Investor Presentaiton

UAE economy rebounding with 5.7% growth expected in 2022 Highlights 8 % y/y 4 0 -4 3.4 2.4 1.2 UAE GDP growth -6.1 2.5 • 5.7 6.1 -8 2017 2018 2019 2020 2021e 2022f 2023f 50 % y/y 40 30 20 10 0 Dubai property prices growth -Villas Apartments Income Expenses Risk Capital Liquidity Macro Divisional Key Highlights The UAE economy enjoyed a strong finish to 2021, with Expo 2020 and increased tourism boosting domestic demand ENBD Research expects UAE GDP to grow by 5.7% and the non-oil economy to grow by 4.0% in 2022 Dubai's average sale price for villas up 27% and apartments up 10% y/y in 2021 The UAE was a global leader in vaccination and one of the first economies to fully reopen UAE's Covid-19 response 5,000 300 Daily New COVID-19 Cases Vaccination Doses adminstered per 100 people 250 4,000 3,000 96% of population fully vaccinated 2,000 1,000 200 150 100 -10 50 -20 0 0 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Jan-20 Jun-20 Nov-20 Apr-21 Sep-21 Feb-22 Source: UAE Central Bank, Bloomberg, UAE Ministry of Health, Asteco 22

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