Investor Presentaiton

Dubai: Positioning for future growth Key contributors to Dubai GDP (Jan-Sep 2021) Hospitality 4.3% % of total Other 15.1% ICT Trade 25.4% 4.3% Government 5.0% Construction 6.6% Financial Services 10.8% Manufacturing Real Estate Services 9.2% 9.7% Transport 9.6% 1200 in thousand tourists 1000 910 800 865 600 491 400 400 200 Top visitors by nationality 444 420 392 296 Highlights Income Expenses Risk Capital Liquidity Macro Divisional Key Highlights • ENBD Research expects Dubai's economy to grow by 4.0% in 2022 • Visitor numbers expected to grow from 7.3 million in 2021, towards 2019 level of 16.7 million • Hotel occupancy and RevPAR expected to continue to improve in 2022 • Dubai rapidly established itself as a leading hub for fintech start-ups in MENA • UAE Net Zero by 2050 strategic initiative provides exciting ESG opportunities Dubai occupancy rates and RevPAR 100 150 2020 2021 80 60 120 90 90 40 76.9 77.2 75.3 74.6 60 60 65.6 47.2 30 20 311 291 280 240 247 0 191 212 166 2016 0 India KSA Russia UK USA France Oman Pakistan Source: STR Global, Bloomberg, DTCM, Dubai Statistics 2017 2018 2019 2020 0 2021 USD Average hotel occupancy rates (LHS) -Average revenue per available room RevPAR (RHS) 23

View entire presentation