Financial and Operating Performance

Income Q4 2010 NIM of 2.41%; -10bps from 2.51% in Q3 2010: Net Interest Margin Trends (%) 3.01 Negative mix impact of declining loan balances and rising customer deposits with deployment of increased liquidity in lower yielding assets ■ 2010 NIM of 2.52%; -29bps from 2.81% in 2009: - Negative mix impact of declining loan balances and rising customer deposits with deployment of increased liquidity in lower yielding assets Increased deposit funding costs Partly offset by increased loan spreads due re-pricing of loans Qtrly NIM 2.85 2.76 2.65 2.60 2.59 2.54 2.51 2.41 2.21 2.01 2.05 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Note: Net interest margin is calculated based on Average Interest Earning Assets (AIEA) ■ Core gross non-interest income increased by AED 44m or 1% from 2009: Non-interest Income Trends (AED million) Movement in Core Gross Non-Interest Income (AED million) +23 -28 +20 +84 -54 - 12% growth in acquiring income - 2% growth in fee income, despite lower origination volumes 3% growth in forex and rates income - 5% decline in trade finance income - 27% drop in brokerage and asset management fees 3,333 3,377 2009 Fee Income Acquiring business Forex & Rates Trade finance Brokerage & AM fees 2010 Note: Core gross non-interest income excludes the impact of Investment Properties, Investment/CDS income and 'Other' income Emirates NBD 14

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