Emirates NBD Earnings Presentation

Higher NIM guidance as interest rates rises feed through Net Interest Margin (%) Quarterly NIM -- YTD NIM 4.40- 3.57 3.43 3.09 2.82 2.89 2.47 2.59 2.60 3.10 2.65 2.86 2.53 2.60 1.5% 2.5% 1.75% 0.25% 0.25% 0.50% 1.75% Fed Funds Upper Bound 3.25% 4.50% 2017 2018 2019 2020 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 NIM drivers FY22 vs FY21 (%) 3.43 (0.22) 2.53 (0.25) 0.26 1.12 Key Highlights FY22 NIM improved 90 bps y-o-y due to interest rate rises and higher DenizBank NIMS Q4-22 NIM up 83 bps q-o-q on improved loan and deposit mix and higher interest rates 2023 guidance set at 3.8-4.0% as impact of recent rate rises flows through, offset by anticipated CASA migration and lower expected DenizBank's NIMS NIM drivers Q4-22 vs Q3-22 (%) 3.57 (0.38) (0.23) 0.30 1.14 4.40 FY 21 Loan Yield Deposit Cost Treasury & Other DenizBank FY 22 Q3 22 Loan Yield Deposit Cost Treasury & Other DenizBank Q4 22 20

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