Investor Presentaiton

Operating expenses 41.5 Cost to Income Ratio (%) 35.3 34.0 34.8 30.3 33.8 32.6 33.1 33.5 Q4 20 Q1 21 Q2 21 CI Ratio (YTD) CI Ratio (QTD) Q3 21 Operating expenses trends (AED mn) +11% Guidance Q4 21 • +16% 2,272 2,047 1,868 1,896 1,956 Other Cost 625 513 425 392 410 182 IT & Commun. 155 147 150 150 236 245 240 239 Dep. & Amort. 230 1,134 1.063 1,116 1,157 1,229 Staff Cost Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Highlights Income Expenses Risk Capital Liquidity Macro Divisional Key Highlights YTD Cost to income ratio improved to 33.5% from 33.8% last year supported by positive income momentum Positive jaws as 3% Income growth outpaced 2% increase in costs Operating expenses up as business recovers - 2022 Cl guidance remains within 35% Q4-21 expenses up 11% y-o-y and 16% q-o-q - - Q4-21 CI ratio increased to 34.8% due to seasonality Higher staff cost due to retail incentives and investment for future growth Other costs up due to seasonality, campaigns and IT investment Operating expenses composition (%) Breakdown as at FY-21 Dep. & Amort. 12% Other 12% Staff 57% IT 5% Occupancy 3% Equip. & Supp. 2% Commun. 3% Service & Legal 4% Marketing 2% 18

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