Investor Presentaiton

Operating costs and Efficiency Emirates NBD Highlights • Costs increased by AED 161 million or +5% y-o-y to AED 3,669 million in FY 2012 resulting from: - Increase of AED 229 million Dubai Bank related costs including AED 49 million of integration costs incurred in Q4 2012. AED 59 million increase in other costs mainly service and legal fees, computer costs and marketing expenses Offset by AED 78 million decrease in staff costs, AED 38 million decrease in occupancy costs and AED 11 million decrease in depreciation charges Excluding Dubai Bank costs dropped 2% y-o-y The Cost to Income ratio for FY 2012 stood at 35.9% The Cost to Income ratio will be managed to the longer term target range of c.34%-35% Cost to Income Ratio Trends 38.5 37.637.4 35.8 34.9 33.7 32.7. 32.9 32.2 32.2 30.7 31.4 CI Ratio (YTD) 35.9 35.7 35.335.135.435.2 33.8 33.4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 08 08 08 08 09 09 09 09 10 10 10 10 11 11 11 11 12 12 12 12 Operating Cost Trends (AED million) 3,508 (78) 229 (38) 59 (11) 3,669 FY 11 Staff Cost Occupancy Depreciation Other Cost Dubai Bank FY 12 cost Operating Cost Components (AED million) +4% 3,508 3,656 3,053 0 93 322 -2% 2,197 1,878 2,119 275 265 227 232 285 275 669 667 714 FY 10 FY 11 FY 12 Dubai Bank Staff Cost Occupancy cost Depreciation Other Cost 20 20

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