3Q 2023 Investor Presentation

FY 2023 Assumptions and Outlook | High interest rates is expected to weigh on credit demand • IMF revised down Saudi GDP growth forecasts to 0.8% in 2023 and revised up 2024 to 4.0% • Saudi economy declined by 4.6% in 3Q23, driven by 17.3% contraction in oil activities and 3.6% growth in non-oil activities Economy • Consumer spending increased by 7.2% in 9M 2023 on the back of improved economic activities • Mortgage growth impacted due to the recent subsidy program changes while non-retail growth remains healthy • Interest rates are expected to stay flat for the remaining of the year • Higher interest rates is expected to weigh on credit demand and deposits mix in 2023 Interest Rates • Strategy & Execution يو 3 Q 2023 Investor Presentation Gross yields trend is expected to continue improving during the year reducing cost of funding pressure SRC benchmark rate increased slightly in August 2023 • "Bank of the Future" strategy delivery is in-line or ahead of expectations • 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 35 8

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