Emirates NBD Q1 2023 Earnings Report

Costs firmly controlled with focus on future growth Cost to Income Ratio (%) 30.8% 30.8% 29.1% 28.7% 28.2% 28.5% 27.4% 25.3% 26.7% 25.3% Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 CI Ratio (YTD) -CI Ratio (QTD) Upper Guidance range Operating expenses trends (AED bn) 34% 2,858 2,642 2,327 857 620 2,078 1,965 499 457 219 219 Other Cost 400 177 268 236 156 175 255 IT & Commun. 217 208 Dep. & Amort. Staff Cost 1,192 1,238 1,396 1,514 1,567 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 • Key Highlights Q1-23 cost to income ratio at 25.3% within guidance reflecting stronger income enabling continued acceleration of investment for growth Staff costs increased y-o-y on incentives to drive underlying earnings and investment in human capital for future growth in digital and international Higher depreciation and amortization costs reflect increased investment in digital platforms Other costs decreased q-o-q on service, legal and professional fees and lower marketing costs due to seasonality Operating expenses composition (%) Breakdown as of 01-23 0 Staff 59% Depreciation 8% Amortization 1% Other 15% IT 5% Occupancy 3% Equip. & Supp. 2% Commun. 3% Service & Legal 2% Marketing 1% 7

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