#1Al Rajhi Bank Results Presentation 3Q 2022 Earnings Conference Call and Webcast مصرف الراجحي alrajhi bank#23Q 2022 Earnings Call 3Q 2022 Results Presentation 2 03 Strong Results for the 9 months of 2022 04 Bank Of The Future - Strategy update 05 3Q 2022 Financial Highlights 17 FY 2022 Guidance 21 ESG Highlights 23 KSA's Macro-Economic Environment 26 IR Contact Information 8#3ARB had a strong set of results in the first nine months of 2022 | Results are in line with or ahead of expectations 23.1% Growth in financing driven by all lines of business 17.6% Growth in liabilities LDR below regulatory minima 19% YTD Balance Net Financing Total Liabilities Sheet Growth 452.8bn +23.1% 557.5bn 556.4bn FY 21 9M 22 Loan to Deposit Ratio +17.6% 654.5bn FY 21 9M 22 82.3% FY 21 10.4% Net yield income growth, impacted by lower NPM 23.3% Non yield income growth Solid 19% net income growth YoY Net Yield income Non Yield Income +10.4% +23.3% 15,037mn 9M 21 16,594mn 3,824mn 4,717mn 9M 22 9M 21 9M 22 17 bps COR reduction Stable credit quality Cost of risk 0.60% FY 21 1.6 ppt better operating efficiency Key Ratios Cost to income ratio 27.2% 9M 21 3 Q 2022 Results Presentation 13.0% Operating income growth 88.4% 9M 22 Operating Income 18,862mn +13.0% 21,311mn 9M 21 9M 22 10 bps improvement in NPL ratio from strong loan growth NPL coverage remained strong NPL 0.43% 9M 22 0.65% FY 21 25.6% 9M 22 Improved capital position Total Capital Adequacy Ratio 17.9% 9M 21 3 NPL Coverage 0.55% 9M 22 19.6% 9M 22 306% FY 21 272% 9M 22 Lower NPM NPM 4.32% 9M 21 3.66% 9M 22 இ#4In strong position to deliver the "Bank of the Future" | Good progress made on strategy implementation Bank Build on our core OF Outperform our competition The Transform technology Future Focus on new client needs Grow Retail including Private Sector Retail financing growth SAR 251 Bn. FY 2020 Customer Experience Customer NPS 70% SAR 425 Bn. 66% 3Q 2022 FY 2020 Expand Corporate Corporate financing growth SAR 53 Bn. FY 2020 102% Bank of Choice for SMEs SME Financing growth SAR 10 Bn. FY 2020 Digital Core Banking Platform Digital / Manual ratio +9% 75% 3Q 2022 83/17 FY 2020 Preferred Employer Employee Engagement Index SAR 108 Bn. 70% 3Q 2022 FY 2020 +1% Market Share Market share of KSA banking assets +5% 136% SAR 23 Bn. 16.9% 3Q 2022 FY 2020 Grow Demand Deposits Demand Deposits growth SAR 333 Bn. FY 2020 14% Preferred Loyalty Program Loyalty program customers enrolled 129% SAR 379 Bn. 3Q 2022 2.4mm FY 2020 Improve Revenue Mix Non-yield Income to Operating Income 18.4% FY 2020 +4% 3Q 2022 Results Presentation Leader in Financial Conduct ESG Rating Become Leading Finance Company Emkan financing total (SAR) +9% 92/8 3Q 2022 SAR 3.2 Bn. FY 2020 106% SAR 6.6 Bn. 3Q 2022 Data Leader for Customer Insights Active Digital Customer penetration Develop Best Payments Solution POS Market Share 71% 7.9mm 3Q 2022 FY 2020 36% Modernize our technology Number of Robots 21.5% 310 2Q 2022 FY 2020 10.8mm 3Q 2022 28.4% FY 2020 +6% 34.3% Aug 2022 Grow Private Bank New Private Banking products 59% 494 3Q 2022 FY 2020 Leverage our Infrastructure Alrajhi Banking App Rating 5.5mm 4.8 3Q 2022 FY 2020 Adopt Agile Delivery Transactions per month average 22.1% BB +1 BBB 295mm 3Q 2022 FY 2020 3Q 2022 FY 2020 4 126% Expand our customer reach Number of Active customers 4.7 9.6mm 3Q 2022 FY 2020 32% 17 3Q 2022 12.7mm 3Q 2022 Deepen Relationships via X-Sell 360-degree system to serve clients 668mm 3Q 2022 FY 2020 100% 3Q 2022 8#53Q 2022 Financial Highlights مصرف الراجحي alrajhi bank#6Balance Sheet Trends (1) | Strong 19% YTD balance sheet growth driven by Financing and Investments Total Assets (SARbn) SAR (mn) 3Q 22 2Q 22 QoQ 4Q 21 YTD +27.1% Cash & balances with SAMA 43,995 37,714 +17% 40,363 +9% Due from banks & other Fl 14,744 29,412 -50% 26,065 -43% 741 710 658 Investments, net 101,808 96,618 +5% 84,433 +21% 624 583 Financing, net 557,498 519,701 +7% 452,831 +23% Other assets, net 22,583 26,334 -14% 19,979 +13% Total assets Due to banks & other Fl Customers' deposits Other liabilities 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 Total liabilities Total equity 740,627 709,779 71,828 42,532 555,767 552,957 26,930 32,377 654,525 627,866 86,101 81,913 +4% 623,672 +19% +69% 17,952 +300% +1% 512,072 +9% -17% 26,339 +2% +4% +5% 556,363 +18% 67,309 +28% Movement in Assets (SARbn) 623.7 3.6 (11.3) +18.8% Movement in Funding (SARbn) +18.8% 104.7 2.6 740.6 43.7 0.6 12.3 6.5 740.6 53.9 17.4 623.7 4Q 21 Cash & Interbank Investments, Financing, SAMA net Net Other Assets, Net 3Q 22 4Q 21 Interbank Customers' Other shareholders' T1 Sukuk Deposits Liabilities equity 3Q 22 3Q 2022 Results Presentation 6 8#7Balance Sheet Trends (2) | Financing growth across all lines of business Financing, Net (SARbn) +32.4% Movement in Financing (SARbn) +23.1% 557.5 23.3 36.9 7.4 0.9 557.5 452.8 421.0 15.9 1.1 107.9 15.9 14.5 43.6 70.9 0.3 65.5 452.8 0.3 340.6 365.7 425.2 3Q 21 4Q 21 3Q 22 4Q 21 Mortgage Other Retail Corporate SME ■Retail Corporate Financial institutions SME Financial institutions 3Q 22 Total Customers' Deposits (SARbn) Movement in Total Customers' Deposits (SARbn) +16.2% +8.5% 555.8 35.5 4.1 555.8 512.1 478.3 512.1 4.1 107.3 130.3 165.8 7.1 11.2 6.8 364.3 374.7 378.8 3Q 21 4Q 21 3Q 22 4Q 21 Demand Time Other 3Q 22 Demand deposits Other customer accounts Customers' time investments 3Q 2022 Results Presentation 7 8#8Net Income Trends | Solid net profit growth of 19% YoY for the first nine months Net Income For The Period After Zakat (SARmn) +14.8% SAR (mn) 9M 22 9M 21 YoY 3Q 22 3Q 21 YoY 3,794 4,012 4,134 4,258 4,355 Net financing & investment income Fee from banking services, net Exchange Income, net 864 Other operating income, net 407 Fees and other income Total operating income Operating expenses Pre-provision profit Total impairment charge 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 Net income for the period after Zakat +22% 1,135 570 +52% 320 436 -7% 65 4,717 3,824 +23% 1,519 21,311 18,862 +13% 7,206 -5,450 -5,136 +6% -1,861 15,861 13,726 +16% 5,345 -1,649 -1,755 -6% -490 -594 -17% Net income for the period before Zakat 14,212 11,971 +19% 4,855 4,230 +15% Zakat -1,466 -1,237 +18% -501 -436 +15% 12,746 10,734 +19% 4,355 3,794 +15% 16,594 15,037 +10% 5,687 5,215 3,445 2,819 +9% 976 +16% 210 +52% 177 -63% 1,363 +11% 6,578 +10% -1,754 +6% 4,824 +11% Net Income After Zakat Growth Drivers By Type (SARmn) 4,258 120 +2.3% (62) (41) 90 4,355 (12) Net Income After Zakat Growth Drivers By Type (SARmn) +18.7% 892 1,557 106 10,734 (315) 12,746 (228) 2Q 22 Yield Non-Yield Expenses Impairments Zakat 3Q 22 9M 21 Yield Non-Yield Expenses Impairments Zakat 9M 22 3Q 2022 Results Presentation 8 8#9Operating Income Trends | Strong income growth reflecting successful strategy execution Total Operating Income (SARmn) +9.6% 6,578 6,855 6,957 7,148 7,206 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 Net Profit Margin (%) 4.32% 4.21% 3.80% 3.76% 3.66% Total Operating Income Growth Drivers By Type (SARmn) +13.0% 626 1,557 295 21,311 18,862 (28) 9M 21 Net Yield Fee banking services, net Exchange income, net Other income, 9M 22 net NPM Drivers (%) 4.32% -0.47% -66 bps 0.13% 0.11% 0.06% 3.66% -0.49% 9M 21 FY 21 1Q 22 1H 22 9M 22 9M 21 Retail Corporate Treasury COF Mgmt Actions 9M 22 3Q 2022 Results Presentation 9 6 8#10Expenses Trends | Cost efficiencies resulted in higher positive jaws Operating Expenses (SARmn) +6.1% 1,754 1,791 1,769 1,820 1,861 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 Cost To Income Ratio (%) 27.2% 26.9% 25.4% 25.4% 25.6% Operating Expenses Growth Drivers By Type (SARmn) +6.1% 129 219 5,136 5,450 (34) 9M 21 Salaries & Benefits Depreciation Other G&A expenses 9M 22 Cost to Income Ratio Drivers (%) 27.2% -1.9% -1.1% -1.7 ppt 0.6% 1.0% 25.6% -0.2% 9M 21 FY 21 1Q 22 1H 22 9M 22 9M 21 Yield Income Non-Yield Income Staff Depreciation G&A 9M 22 3Q 2022 Results Presentation 10 8#11Net Impairment & Cost of Risk | Lower net impairment resulted in cost of risk improvement Net Impairment Charges (SARmn) -17.5% 594 590 578 580 490 Cost of Risk (%) 0.62% 0.60% 0.48% 0.47% 0.43% 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 9M 21 FY 21 1Q 22 1H 22 9M 22 Movement in Net Impairment (SARmn) 1,755 -6.0% 1,649 (106) (0) Movement in Net Impairment by Group (SARmn) 1,755 (640) -6.0% 534 1,649 9M 21 Gross charges Recoveries 9M 22 9M 21 Retail Non-Retail 9M 22 3Q 2022 Results Presentation 11 8#12Asset Quality Trends (1) | Asset quality remains healthy and NPL coverage remains strong. Movement in NPL (SARmn) 114 3,010 +3.6% 3,118 (6) 4Q 21 Retail Non-Retail 3Q 22 NPL Ratio (%) 1.89% 1.66% 1.66% 1.37% 1.10% 0.67% 0.65% 0.62% 0.57% 0.55% NPL Formation (SARmn) +3.6% 3,522 3,118 3,010 (3,413) 4Q 21 Write off Netflow 3Q 22 NPL coverage ratio (%) 307.5% 305.6% 307.8% 293.0% 272.3% 0.38% 0.40% 0.36% 0.35% 0.38% 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 Retail Non-Retail Group 3Q 2022 Results Presentation 12 8#13Asset Quality Trends (2) | Healthy stage coverage reflecting prudent risk management ECL by Stage (SARmn) 8,885 9,198 8,491 2,857 3,159 2,969 2,440 2,326 1,924 3,588 3,713 3,598 3Q 21 4Q 21 3Q 22 ■Stage 1 Stage 2 ■Stage 3 Gross Loans by Stage (SARbn) +31.7% 566.0 4.5 462.0 4.2 429.8 4.0 9.7 9.6 8.8 551.8 417.1 448.3 3Q 21 4Q 21 3Q 22 ■Stage 1 ■Stage 2 Stage 3 3Q 2022 Results Presentation 13 Movement in ECL by Group (SARmn) -4.4% 8,885 (511) 117 8,491 3Q 21 Retail Non-Retail 3Q 22 ECL Coverage (%) 75.6% 71.7% 66.1% 27.8% 24.3% 19.8% 0.86% 0.83% 0.65% 3Q 21 Stage 1 4Q 21 Stage 2 3Q 22 Stage 3 8#14Liquidity Trends | Liquidity remains comfortably within regulatory requirements HQLA (SARbn) LCR (%) +21.1% 110.0 112.7 99.4 93.1 94.8 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 125.0% 121.0% 124.2% 121.0% 121.2% Loan to Deposits Ratio (SAMA) (%) 87.9% 88.4% 82.7% 82.3% 83.8% 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 NSFR (%) 112.8% 114.1% 110.1% 109.8% 110.2% Regulatory Minimum 100% 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 3Q 2022 Results Presentation 14 Regulatory Maximum 90% Regulatory Minimum 100% 8#15Capitalization Trends | Capital position well above regulatory minima RWA (SARbn) +21.1% 479.2 37.8 425.6 395.8 37.8 33.3 1.1 2.4 3.6 358.8 385.4 440.3 3Q 21 4Q 21 ■Credit risk Market risk 3Q 22 Operational risk Capital Ratios (%) Total Capital (SARbn) +32.1% 93.8 5.5 75.0 71.0 4.8 4.5 88.3 66.5 70.2 3Q 21 4Q 21 Total tier 1 capital (T1) 3Q 22 Tier 2 capital (T2) Tier 1 Drivers (%) 19.6% 19.3% 19.0% 17.9% 16.5% 17.6% 18.4% 18.1% 17.9% 16.8% 16.5% 0.0% 1.93% 1.5% 3.0% -0.2% -0.2% -2.3% 18.4% 3Q 21 4Q 21 1Q 22 ―――――――T1 ratio 2Q 22 TC ratio 3Q 22 4Q 21 Dividends YTD Profit Other reserves FTA Sukuk RWA 3Q 22 3Q 2022 Results Presentation 15 8#16Return Metrics | Al Rajhi Bank's returns remain industry-leading Return on RWA (%) 3.98% 3.94% 3.79% 3.74% 3.76% 9M 21 FY 21 1Q 22 1H 22 9M 22 Return on Equity (%) 23.62% 23.87% 23.76% 23.43% 23.08% Earnings per Share (SAR) +13.2% 1.00 1.03 1.05 1.07 0.95 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 Return on Assets (%) 2.72% 2.70% 2.59% 2.55% 2.50% 9M 21 FY 21 1Q 22 1H 22 9M 22 9M 21 FY 21 1Q 22 1H 22 9M 22 3Q 2022 Results Presentation 16 8#17FY 2022 Guidance مصرف الراجحي alrajhi bank#18FY 2022 Assumptions and Outlook | Driven by positive economic outlook with focus in delivering efficiencies • IMF maintains a 7.6% and 3.7% GDP growth forecasts in 2022 and 2023, respectively • Saudi economy grew by 12.2% in 2Q 2022, recording the highest growth rate since 2011 Economy • Consumer spending increased by 9.2% August YTD 2022 on the back of improved economic activities Credit growth is expected to continue during 2022 supported by government and PIF initiatives and projects • Interest rates are expected to move higher during 2022 as US inflation staying well above its 2% target • Higher interest rates will continue to add pressure on funding costs Interest Rates • Retail ex-mortgage assets re-pricing is expected to occur in the range of 1-3 years • SRC has revised up the mortgage subsidies cap rate in early October for the third time this year and extended the benchmark tenor to 30 years. Strategy & Execution . • "Bank of the Future" strategy is paving the way for growth opportunities across all business lines Strategy execution is on track to build a financial ecosystem addressing changing customer needs • The focus will continue to improve the bank overall efficiencies through several initiatives • ESG remains a focus for the management to build a sustainable business that contributes to the bottom line 3 Q 2022 Results Presentation 18 8#19FY 2022 Guidance | Continuation of excellent results and strategy execution FY 2022 Guidance 9M 2022 Actual Guidance Revision Balance Sheet Financing Low twenties +23.1% High twenties Net profit margin Profitability Cost to income ratio ROE -55 bps to -65 bps -55 bps Below 26.5% 25.6% No change Below 26.0% 23% -24% 23.08% 22.5% 23.5% Asset Quality Cost of risk 0.40% -0.50% 0.43% No change Capital Tier 1 ratio 17% - 18% 18.4% 3Q 2022 Results Presentation 19 No change &#20Q & A مصرف الراجحي alrajhi bank#21ESG Highlights مصرف الراجحي alrajhi bank#22ESG Highlights | 3Q 2022 SAR 740bn Total Assets SAR 12.7bn Net Profit after Zakat 0% Financing exposure in Tobacco, Alcohol & Gambling Financial Sustainability USD 1.2 bn Green syndicated loan Started using solar energy system in 5 branches to reduce utilities consumption Over USD1bn of financing renewable energy projects ISO Green Certification for the head office building 92:8 Digital to Manual Ratio Environmental SAR 32mn Donation in 2021 SAR 1.5bn Zakat paid SAR 2.5bn in salaries and benefits paid SAR 23.3bn in financing for SMEs 91 kidney transplants through Shifaa platform Social 9 batches of Graduate Development Program since 2015 3,663 Employees volunteered in social programs 18,300+ of volunteering hours Clocked 87,700+ total training days ISO/DIS 37301:2020 Compliance ISO 22301:2019 Business Continuity Management 1,209 Sharia Board Resolutions 137 Policies & Frameworks 5 out of 10 Independent Board Directors Governance 101 women-owned suppliers engaged 69% growth in female employees since 2015 17% of female employees 93% growth in female customers since 2015 Gender Diversity 3Q 2022 Results Presentation 22 3Q 2022 figures இ#23KSA's Macro-Economic Environment مصرف الراجحي alrajhi bank#24KSA Economic Outlook | Improved economic conditions compared to 2021 Highlights GDP Growth/Brent Oil Price 104.2 96.9 • IMF maintains a 7.6% and 3.7% GDP growth forecasts in 2022 and 2023, respectively 71.2 70.9 64.4 • GDP grew by 12.2% in 2Q 2022 driven by higher oil prices and recovery in non-oil activities 7.6 41.7 2.4 0.3 3.3 3.7 • Average inflation estimated to be 2.6% in 2022 and expected to normalize in 2023 to 2.1% Expenditure/Revenue and Asset Reserves (SARbn) 1,862 1,873 1,701 1,708 1,715* 1,079 1,059 1,076 1,039 1,132' 1,222 1,114 1,123 906 927 965 782 2018 2019 2018 2019 -4.1 2020 2021 I GDP Growth, Constant Prices (%) Source: IMF, U.S. Energy Information 3M SAIBOR / Inflation 2022 2023 Brent Crude (USD/bbl) 3.4% 3.3% 2.6% 2.6% 2.1% -0.1% 5.0% 3.2% 2.5% 2.6% 1.2% 0.8% 2020 2021 2022 2023 2018 2019 2020 2021 2022 2023 Government revenue SAMA asset reserves 3M SAIBOR (average %) -Inflation (average consumer prices %) August 2022 figure Source: SAMA, IMF, MOF Government expenditure Source: MoF, SAMA 3 Q 2022 Results Presentation 24 8#25Banking Sector Highlights | Banking system loans growth was broad based • Recent Developments Broad-based loan growth in the banking system during the nine months of 2022 SRC has revised up the mortgage subsidies cap rate in early October 2022 for the third time this year and extended the benchmark tenor to 30 years Consumer spending increased by 9.2% August YoY with continuous migration to cashless payment methods Retail Mortgage (SARbn) 15.3% 59.2% 41.4% 41.4% 30.8% SAMA LDR (%) & Bank Loans and Deposits (SARmn) 79.5% 77.4% 77.1% 75.0% 2,059 2,104 1,943 1,796 1,674 1,783 1,552 1,443 81.5% 2,291 2,241 2018 2019 2020 2021 I Loans to private & public sectors Source: SAMA Total Deposits Aug 22 SAMA LDR POS/ATM & E-Commerce (SARbn) 1,130 1,039 1,025 74 981 10 39 232 288 814 357 473 78 503 367 446 748 741 315 629 582 198 140 370 2018 2019 Retail Mortgage loans (SARbn) 2020 2021 2Q 22 YoY Growth (%) 2018 2019 2020 ATM withdrawls POS spending 2021 Aug 22 YTD ■E-Commerce Spending* Source: SAMA 3 Q 2022 Results Presentation 25 Source: SAMA * E-Commerce started in 2019 8#26IR Contact Information مصرف الراجحي alrajhi bank#27Additional Information | Contact investor relations for more information Rayan Alshuaibi Director of Investor Relations +966 (11) 828 1972 [email protected] Abdulrahman Alyami Assistant Manager Investor Relations +966 (11) 828 3586 [email protected] Visit our website (here) for more Investor disclosers: Annual Report • Factsheet Upcoming Events in 4Q 2022 Merrill Lynch KSA MENA Conference 2022 - Riyadh 31st October - 1st November Awards 2020 ones | 2020 السعودية جائزة أفضل برنامج علاقات مستثمرين Best Investor Relations Program Award مصرف الراجحي Al Rajhi Bank جوائز السوق المالية | Market Awards 2021 lähell جائزة أفضل برنامج علاقات مستثمرين Best Investor Relations Program Award مصرف الراجحي Al Rajhi Bank Financial Statements • Data Supplement Alrajhi Mobile App Alrajhi Business App Alrajhi IR App Investor Presentation • Earnings Release 3Q 2022 Results Presentation 27 Alrajhi Tadawul Mobile App Emkan App urpay App 8#28Disclaimer • AL RAJHI BANK HEREIN REFERRED TO AS ARB MAKES NO REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY REGARDING THIS DOCUMENT OR THE MATERIALS AND INFORMATION CONTAINED OR REFERRED TO ON EACH PAGE ASSOCIATED WITH THIS DOCUMENT. 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IN PARTICULAR, NO WARRANTY IS GIVEN THAT ECONOMIC REPORTING INFORMATION MATERIAL OR DATA IS ACCURATE RELIABLE OR UP TO DATE. ARB ACCEPTS NO LIABILITY AND WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE ARISING DIRECTLY OR INDI-RECTLY (INCLUDING SPECIAL, INCIDENTAL OR CONSEQUENTIAL LOSS OR DAMAGE) FROM YOUR USE OF CONTENTS IN THE DOCUMENT, HOWSOEVER ARISING, AND INCLUDING ANY LOSS, DAMAGE OR EXPENSE ARISING FROM, BUT NOT LIMITED TO, ANY DEFECT, ERROR, IMPERFECTION, FAULT, MISTAKE OR INACCURACY WITH THIS DOCUMENT. 3Q 2022 Results Presentation 28 8