Investor Presentaiton

Boubyan Bank (59.9% owned subsidiary) الوطني NBK Market share of Total Assets(%) 6.5% 5.7% 5.5% 5.1% 4.7% 2015 2016 2017 2018 2019 Market share of Total Deposits (%) 8.5% 8.9% 7.9% 7.4% 6.1% 2015 2016 2017 2018 2019 Notes: Market share data based on the consolidated data of all banks operating in Kuwait Highlights Islamic banking has been gaining ground in the Kuwaiti market, representing close to 40% of assets and deposits at year-end 2019. ■ After a series of gradual share acquisitions since 2009, NBK's stake in Boubyan bank reached 58.4% in 2012. Through Boubyan, NBK aims at diversifying its income stream, complementing its product offering as well as targeting a new segment of clients. ■ The size and market share development of Boubyan relative to other Islamic banks leaves significant room for repositioning the bank and acquiring market share. " ■ As the largest single shareholder, NBK is committed to the future growth and transformation of Boubyan Bank and establishing a strong presence in the growing Islamic banking segment. Leading international consulting firms have assisted Boubyan in developing a new strategy aiming to differentiate the bank from other players with a clear focus on HNWI, affluent and mid/large companies. ■ The Bank's transformation and strategy implementation is led by a highly proficient management team with extensive regional banking experience, with key positions filled by NBK veterans aligned with the NBK culture. 10

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