Emirates NBD 2014 Achievements and Strategic Update

Operating costs and Efficiency Emirates NBD Highlights Costs increased by 10% q-o-q in Q4, as per previous guidance, and increased by 5% in 2014 Cost to Income Ratio improved by 5% in 2014 to 30.4% YTD due to strong income growth and a control on costs. Adjusted for one-offs, Cost to Income Ratio would be 30.5% for Q4-14 and 31.3% for FY-14 The longer term management target for cost to income ratio is 33% which provides headroom for future investment Cost to Income Ratio Trends 38.8 35.4 33.1 31.5 30.3 30.4 29.5 29.3 27.9 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 CI Ratio (YTD) CI Ratio Operating Cost Trends (AED Mn) Operating Cost Components (AED Mn) 4,389 -4% 1,228 1,177 41 89 93 1,050 1,087 1,075 83+10% 133 (69) -79- C78J 86] 715 677 620 664 656 83 81 81 75 94 -94 111 94 97 -86 226 176 167 172 229 4,194 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 FY 13 Staff Occupancy Other Cost cost Cost Egypt FY 14 Egypt Occupancy cost Other Cost Staff Cost Depr & Amort 19

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