Investor Presentaiton

Operating costs and Efficiency Highlights • • Cost to Income Ratio improved by 7.3% q-o-q to 31.5% Costs increased by 14% y-o-y but decreased by 14% q-o-q due to a number of one-off costs booked in Q4 2013 but not replicated in Q1 2014. Excluding Egypt, costs decreased 14.4% q-o-q and increased 5% y-o-y. Lower absolute costs in Q1 2014 compared to Q4 2013 due to one off costs not being repeated and due to lower staff and marketing costs and reduced legal and professional fees. The longer term management target for cost to income ratio is 33% We will invest more in the future, within this parameter, on systems and people to help support business growth Operating Cost Trends (AED Mn) Cost to Income Ratio Trends Emirates NBD 35.2 38.8 35.4 34.5 34.1 33.9 33.5 31.5 Q1 13 Q2 13 CI Ratio (YTD) Q3 13 Q4 13 Q1 14 CI Ratio Operating Cost Components (AED Mn) 1,228 (95) +14% (2) 1,228 925 1,013 1,053 93 1,050. -14% (68) 1,050 "(14)" 0 =43= C81- -79- 715 586 613 614 620 83 81 62 77 81 88 -88 -86 111 94 190 192 192 226 176 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q4 13 Staff Occupancy Other Egypt Cost cost Cost Q1 14 Egypt Staff Cost Occupancy cost Other Cost Depr & Amort 19

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