UAE Economic and FY 2012 Financial Results Update

2012 Strategic Imperatives (cont) Emirates NBD 2 2012 Objectives 1 Drive Profitability • Revenue growth - - Increase cross-sell and bolster fee based business within the Consumer Banking and Wealth Management segment; e.g. FX, bancassurance, investments, etc. Roll out sales effectiveness program across branches and direct sales force Extend key account management model across wholesale banking segment; e.g. drive treasury sales and investment banking services to existing corporate relationships • Cost management Continue to focus on cost and operate in a revised target cost income ratio of 34% to 35% Efficiency gains through merging operational activities into Tanfeeth, and centralising procurement activities Evidence of Success Roll out of sales effectiveness program and revised front-line incentive scheme, inter alia, drove CWM fee income and net interest income growth of 23% and 8% respectively in 2012 • Standalone EIB underlying revenues grew 23% through roll out of sales force effectiveness program and revamp of customer product and services offerings = Developed a strategic pian and roadmap for the wholesale bank to transform into a regional powerhouse; the strategic plan involves a large scale transformation of the wholesale banking unit encompassing among others: - - - - Detailed Key account planning which will be extended across all key accounts over 2012 - 2013 Enhancement of our transaction banking capabilities Renewed focus on offering leading investment banking services Increased investments in treasury and expanding our solution offerings Vigorously pursuing international expansion plans Development of superior credit processes Enhancement of operational efficiencies • Ran a Group wide cost optimisation program; Q4 2012 cost base AED 909 million (excluding integration costs) which is AED 116 million or 11% below Q4 2011 cost base 32 32

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