Investor Presentaiton

EMIRATES NBD CHAIRMAN'S MESSAGE ANNUAL REPORT 2021 H.H. SHEIKH AHMED BIN SAEED AL MAKTOUM CHAIRMAN EMIRATES NBD Emirates NBD delivered a solid set of financial results for 2021 reporting a 34% increase in net profit to AED 9.3 billion. Demonstrating the resilience of the Group's diversified business model and the strong recovery as economic growth rebounded in 2021, the Group's balance sheet strengthened with further improvements in deposit mix, core capital and liquidity while credit quality remained stable. The speed and efficiency with which the UAE rolled out coronavirus vaccines in 2021 put the economy in a strong position to benefit from the global rebound in activity during the year. Emirates NBD research estimates the UAE's non- oil sector grew 3.5% in 2021, underpinned by recovering domestic demand along with a surge in global trade volumes and a modest rebound in international tourism. We remain grateful to the UAE government for their visionary leadership and unwavering proactive actions to safely reopen the economy that has placed the nation at the forefront of worldwide recovery efforts. The successful opening of Expo 2020 Dubai led to firm growth and facilitated economic recovery, while raising international competitiveness and reaffirming Dubai's status as a global trade and investment hub. Additionally, structural reforms implemented over the last couple of years such as the expansion of longer-term residency visas, allowing 100% foreign ownership of onshore companies and the alignment of the UAE's working week with that of larger developed economies will help boost investment and drive growth over the medium term. These measures will also serve to attract more human and financial capital to the UAE over the coming years. The nation's strong and diversified economic fundamentals safeguard against future challenges and the knowledge and experience we acquired have helped us navigate the effects of the pandemic and take advantage of further economic recovery. Optimism has also been lifted by the approval of Dubai's budget for 2022-2024. The total planned expenditure of AED 181 billion will support the Emirate's efforts to stimulate its broad economy and deliver the goals of the Dubai Strategic Plan 2030. Our focus remains on keeping our customers, colleagues, stakeholders and the community safe. With increasing customer digital adoption during the COVID-19 pandemic, we have accelerated the pace of investment in technology and in our international network to support future growth. Our efforts as an early adopter of banking digitalisation and innovation, and best practice, have ensured that the Group continued to receive international recognition. In 2021 Emirates NBD was named Best Bank in the UAE for the seventh consecutive year and Best Bank in the Middle East at the Euromoney Awards for Excellence 2021. Our International offices also received accolades and our KSA branches won the Best Foreign Bank in KSA award from International Finance for 2021. Meanwhile, our investment banking arm, Emirates NBD Capital, was named Sukuk Lead Manager of the year at the Global Islamic Finance Awards 2021 in recognition of its track record in arranging several landmark Sukuk transactions. In 2021, Emirates NBD issued a USD 1,750 million ESG-linked syndicated loan with pricing linked to further improvements in water utilisation and the percentage of women in senior management - the first such loan issued from a bank in the Gulf region. Emirates NBD was actively involved in community initiatives, maintaining our focus on Corporate Social Responsibility as detailed in our ESG Report. Our people remain our greatest asset and in 2021, we introduced a dedicated Diversity and Inclusion department to further enhance and celebrate the Group's diversity, which already boasts 81 nationalities working across 13 countries. We are proud that 40% of the workforce of Emirates NBD Group operations are female, which is well above the global benchmark for financial services. We continued our long-standing commitment to hiring People of Determination (PWD) with new 49 PWD hired in 2021, backing them with access to extra leave, equipment and wellbeing support. Emirates NBD is deeply committed to supporting the economic growth of the UAE in line with the ambitions of our nation's wise leadership. Emiratisation remains a top priority and, in response to the government's federal NAFIS programme, announced as part of the UAE's "Projects of the 50" to help integrate Emiratis within the private sector, we launched our new elite graduate programme called "Ruwad" to build the Group's future C-suite. It is the largest investment the Group has ever made in a single talent management programme. We are proud to be among the UAE's largest employers of Emiratis. Looking forward, we maintain a positive outlook for growth and remain confident that we will continue to deliver a robust performance in the year ahead. Emirates NBD research expects non-oil sector growth in the UAE to climb further to 4.0% in 2022. Customer and community stand at the core of our growth strategy, and we will continue to pioneer strategic initiatives that deliver superior products and services, while increasing shareholder value. In conclusion, I would like to thank Emirates NBD Group's Board of Directors, members of the Executive Committee and our employees for their dedicated contribution towards our success. I also extend our deepest gratitude to our customers and shareholders for their continued support and trust. 7 8

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