Investor Presentaiton

Dubai Economic Update (cont) Highlights Dubai is the 3rd largest centre for re-exports in the world which itself represents almost 50% of GDP • Dubai is a strategically located international trading hub with some of the world's best air and sea ports serving over 205 destinations Very large investments in infrastructure will have highly positive effects on the long-run development and productivity of the emirate • Airport passenger arrivals and tourism data show encouraging trends Dubai's Strategic Location Dubai: Air passenger arrivals and tourism trends 140 120 12888 2 100 80 60 40 мин Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 RevPAR (AED 10s) (Ihs) Passenger traffic (mn people) (rhs) Hotel Occupancy (%) (lhs) Source: Emirates NBD Research, Dubai Statistics Centre, Bloomberg Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 2 1 0 4 3 250 5 200 AED Billion Dubai: External trade growth trends 150% 100% 50% 150 0% 100 -50% 50 -100% 0 -150% Imports Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 07 07 07 07 08 08 08 08 09 09 09 09 10 10 10 10 11 11 11 11 12 12 Exports & Re-Exports Source: Emirates NBD Research, Dubai Statistics Centre 7 y-o-y Growth % Emirates NBD

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