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Investor Presentaiton

Dubai Economic Update (cont) Emirates NBD Highlights • Tourism continues to be a key driver of Dubai's growth with Dubai International, the world's second busiest international hub enjoying strong passenger growth of 9.2% in Jan-May 2014 over the same period last year,, despite major runway refurbishment in May/June. Growth has been driven by new partnerships (for example with Qantas), network expansion and the opening of new routes to Eastern Europe, North & South America, Australia and Asia. Hotel occupancy averaged 85% in Jan-May 2014, broadly unchanged from the same period last year. Hotels were able to increase rates by more than 7% on average year-to-date, despite a 7.4% increase in the supply of hotel rooms in Dubai. Dubai's non-oil foreign trade value increased 5.9% y-o-y in Q1 2014. Hotel occupancy and RevPAR Mn Dubai Airports passenger traffic TTT 76543210 Jan-12 Mar-12 May-12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13 May-13 Passenger traffic (Mn people) (lhs) Jul-13 Source: Dubai Airports, Emirates NBD Research Sep-13 Nov-13 Jan-14 Mar-14 NU!! 30% 25% 20% 15% 10% 5% 0% -5% -10% -15% May-14 Jul-14 Passenger traffic (% y/y) (rhs) Dubai: External trade growth trends 100% 80% 60% 40% 20% 0% -20% -40% -60% Jan-09 Apr-09 60-յոՐ Oct-09 Jan-10 Apr-10 11 Jul-10 Oct 10 Oct-10 Jan-11 Apr-11 Jul-11 سلسل اساسي Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 RevPAR (% y/y) Hotel Occupancy (%) Source: STR Global, Emirates NBD Research Apr-14 Jul-14 1,000 60% 800 600 400 200 0 ให 40% 20% 0% -20% -40% 2006 2007 2008 2009 2010 2011 2012 2013 Imports (Ihs) Imports (% y/y) (rhs) Source: Dubai Statistics Centre Exports & Re-Exports (lhs) Exports & Re-exports (% y/y) (rhs) 7
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