Bank Dhofar Business Performance Update

Operating Expenses 55.0% 49.6% 2018 2019 USD million Cost to Income Ratio 50.1% 2020 57.2% 49.1% 2021 Q2 2022 -Operating Expenses/Operating Income Operating Expenses Breakdown 169 188 89 18 18 9 34 44 21 9 9 4 108 117 55 2020 2021 Q2 2022 Staff Costs ■Occupancy Costs ■Other Operating Costs Depreciation بنك ظفار Bank Dhofar The improvement in cost to income ratio is primarily attributable to increased operating income and active cost management. The bank has made significant investments in technology and streamlining operational process in the bank to improve controls and improve efficiency. The benefit of these investments will accrue in the coming years and is expected to further bring down the cost to income ratio. 22 22

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