Financial and Operating Performance

Dubai Economic Update Highlights Dubai is the 3rd largest centre for re-exports in the world which itself represents 44% 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 ■ In Dubai six 'strategic thrusts' for growth include travel and tourism; financial services; professional services; transport and logistics services; trade and storage; and construction. Very large investments in infrastructure will have highly positive effects on the long run development and productivity of the emirate Lower inflation, stable USD and property market declines have enhanced Dubai's cost-competitiveness Strength in emerging market currencies leaves UAE markets relatively cheap by comparison. Dubai's Strategic Location Dubai 2008 GDP breakdown UAE GDP by Emirate (2008) 100% AED 934b = Others 11% Dubai GDP by Sector (2008) = 100% AED 300b Financial Services. 8% Others 5% Oil 2% Abu Dhabi 57% Dubai 32% Manufacturi ng 14% Construction / Real Estate 24% Trading & Communicat ion 47% Source: UAE Ministry of Economy Dubai Trade in 2010 (AED billion) Emirates NBD 700 600 500 400 300 200 100 יייוון 2005 2006 2007 2008 2009 Q3 2010* Imports Exports & Re-Exports * Annualized. Source: Dubai Statistics Centre; includes Direct Foreign Trade and Free Zone & Customer Warehouse Trade 5

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