Investor Presentaiton

Associates and Joint Ventures Emirates NBD Highlights • De-risking of investment in Union Properties (UP) since 2009: - During 2013, ENBD disposed of 32.6% of UP shares in the market A gain of AED 191 Mn was recorded during 2013 ENBD holds 15% of UP Since percentage of holding is less than 20%, ENBD does not have significant influence in UP UP holding has therefore been accounted as AFS investment from 21 August 2013 Network International accounted for as a jointly controlled entity from the start of 2011 with a carrying value of AED 1.5 Bn Composition of Associates and Joint Ventures Income Statement AED Mn Q1 14 Q1 13 Better/ (Worse) Q4 13 Better / (Worse) National General Insurance 26 12 117% 6 333% Network International 35 35 13 169% 39 (10%) Bank Islami Pakistan 0 Total n/a 0 n/a 61 25 144% 45 36% Balance Sheet AED Mn • 24.8% stake in Bank Islami Pakistan acquired as part of Dubai Bank 31-Mar-14 31-Mar-13 Better / (Worse) 31-Dec-13 Better/ |(Worse) Union Properties 0 532 (100%) 0 n/a National General Insurance 187 145 28% 160 17% Network International 1,486 1,407 6% 1,451 2% Bank Islami Pakistan 16 25 (35%) 20 (18%) Total 1,689 2,109 (20%) 1,631 4% 25

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