Emirates NBD Investor Presentation

Acquisition of Dubai Bank ◉ Highlights As per the decree issued by the Ruler of Dubai on 11 October 2011, Emirates NBD acquired a 100% stake in Dubai Bank 2,588 158 The consideration was AED 10 which equates to the fair value of net assets acquired 930 ■ As on the date of acquisition, there was a zero NPL and P&L impact by virtue of the transaction structure and the fair value process of assets and liabilities upon initial consolidation ■ The fair value of the assets and liabilities was determined by an external expert 1,500 Strategy and integration plan for Dubai Bank in process of being finalised As at 31st December 2011, Dubai Bank added the following to the Group: 21 Branches 42 ATMs and 15 CDMs and 688 employees Emirates NBD Financial Impact Upon Acquisition (AED million) 2,698 -110 1,201 543 0 768 Tier 1, Tier 2 & Reserves Credit & other loss Net Equity Position Fair value adjustments, FV of MOF Deposit* FV of Govt Guarantee** Upon credit & reserve Sept. 2011 Acquisition other losses FV of net assets acquired * In connection with the transaction, the Group has received a deposit from the UAE Ministry of Finance amounting to AED 2.8 billion at a discount comparable to market rates. This liability was recognised at fair value resulting in a fair value gain of AED 543 million and will be amortised over the term of the deposit (8 years) ** In connection with the transaction, the Government of Dubai has provided a guarantee for any losses at the date of acquisition and any future losses relating to the assets and liabilities on the date of acquisition for the next 7 years; an amount of AED 768 million represents the fair value of the Guarantee as at the date of acquisition 27 27

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