Investor Presentaiton

Boubyan Bank (59.9% owned subsidiary) Market share of Total Assets(%) 7.6% 6.5% 5.5% 5.7% 5.1% 2016 2017 2018 2019 2020 Market share of Total Deposits (%) 9.6% 7.9% 8.5% 8.9% 7.4% 2016 2017 2018 Notes: Market share data based on the consolidated data of all banks operating in Kuwait. 2019 2020 Highlights ☐ Islamic banking has been gaining ground in the Kuwaiti market, representing more than 40% of assets and deposits at year-end 2020. After a series of gradual share acquisitions since 2009, NBK's stake in Boubyan bank reached 58.4% in 2012. Through Boubyan, NBK aims at diversifying its income stream, complementing its product offering as well as targeting a new segment of clients. ■ The size and market share development of Boubyan relative to other Islamic banks leaves significant room for repositioning the bank and acquiring market share. ■ As the largest single shareholder, NBK is committed to the future growth and transformation of Boubyan Bank and establishing a strong presence in the growing Islamic banking segment. Leading international consulting firms have assisted Boubyan in developing a new strategy aiming to differentiate the bank from other players with a clear focus on HNWI, affluent and mid/large companies. ■ The Bank's transformation and strategy implementation is led by a highly proficient management team with extensive regional banking experience, with key positions filled by NBK veterans aligned with the NBK culture. National Bank of Kuwait 11

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