Debt Investor Presentation May 2020 Disclaimer Comparative figures - - PowerPoint PPT Presentation

Debt Investor Presentation

May 2020

2

Disclaimer

The information contained herein has been prepared by First Abu Dhabi Bank P.J.S.C (“FAB”). FAB relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. This presentation has been prepared for information purposes only and is not and does not form part of any offer for sale or solicitation of any offer to subscribe for or purchase or sell any securities nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. Some of the information in this presentation may contain projections or other forward-looking statements regarding future events or the future financial performance of FAB. These forward-looking statements include all matters that are not historical facts. The inclusion of such forward- looking information shall not be regarded as a representation by FAB or any other person that the objectives or plans of FAB will be achieved. FAB undertakes no obligation to publicly update or publicly revise any forward-looking statement, whether as a result of new information, future events

• r otherwise.

Please note that rounding differences may appear throughout the presentation.

Comparative figures have been reclassified where appropriate to conform to the presentation and accounting policies adopted in the consolidated financial statements.

Economic and banking sector review

A cosmopolitan country

~10.4Mn people (2018e)1

Expatriates ~85%

2nd largest economy in GCC

(30th largest in the world)

USD 414Bn 2018e Nominal GDP1 USD 39,709 GDP per capita

6th largest proven oil reserves

~98Bn boe (~8% of global oil reserves)2

~3.0Mn barrels/day (2018 crude oil production)

One of the highest rated sovereigns

Aa2 (Moody’s)

GDP growth expectations Diversified & competitive economy

4

UAE economic overview

1 IMF World Economic Outlook - October 2019 3 IMF World Economic Outlook – April 2020 5 Federal Competitiveness and Statistics Authority, 2018 Nominal GDP

UAE

74%

non-oil sector contribution to nominal GDP5

16th

ease of doing business rankings, 11th in 20196

UAE federation established in 1971 comprising 7 Emirates One of the 6 GCC (Gulf Cooperation Council) states

2 OPEC Annual Statistical Bulletin 2019; boe (barrel of oil equivalent) 4 WAM (Emirates News Agency) 6 World Bank’s Ease of Doing Business Rankings 2020

0.5% 1.7% 1.3%

• 3.5%

3.3% 2017 2018 2019e 2020f 2021f Real GDP Growth3

• The UAE’s policy response to the COVID-19 pandemic

was proactive and decisive in the form of fiscal and monetary stimulus packages, including a AED 256Bn (USD 69.7Bn) stimulus plan launched by the UAE Central Bank (more details on slide #8)

• According to the IMF, UAE real GDP is expected to

contract by 3.5% in 2020 before rebounding 3.3% in 2021 as the COVID-19 situation is expected to normalise and lead to a strong recovery in key economic sectors including transportation, logistics, tourism and hospitality

5

Abu Dhabi - the capital

Ajman

Umm al Quwain Ras al Khaimah Fujairah Ajman Dubai Sharjah

87% of UAE land area4

Estimated population4: 2.9 Mn

1 National Accounts (SCAD) website as of 3rd May 2019, preliminary estimates 2 After Luxembourg - IMF World Economic Outlook, October 2019; GDP per capita based on 2019e Nominal GDP, 2016 Population (SCAD) 3 Fitch Ratings (31 October 2019) 4 Abu Dhabi 2019 Bond Prospectus

Highest sovereign ratings in MENA

Aa2 / AA / AA

Moody’s / S&P / Fitch

Major contributor to UAE GDP

USD249Bn 2019e Nominal GDP1

61% of UAE’s 2018 Nominal GDP

2nd highest GDP per capita in the world

USD 85,6842

Strong fiscal position

Sovereign foreign assets – 185% of GDP3 Government debt – only 11% of GDP3

On clear path to economic diversification

60% non-oil sector contribution to

nominal GDP1 , up from 45% in 2013

Abu Dhabi

AA credit rating was reaffirmed by S&P on 26 March 2020 with a stable outlook: Extract from S&P report: “Abu Dhabi's net asset position (…) alongside proactive policymaking comfortably cushions it from the sharp fall in oil prices and other external shocks.” “The stable outlook reflects our expectation that Abu Dhabi's fiscal position will remain strong over the next two years, although structural and institutional weaknesses will likely persist.”

Dubai

In the context of COVID-19, Abu Dhabi announced that previously budgeted capital expenditure plans would be maintained, and that oil production would be proactively managed to stabilise oil prices and revenues

Long term vision to transform the Emirate into a knowledge-based economy and reduce its dependence on the oil sector (2030 Economic Vision, Ghadan 2021)

10.4 4.2 3.2 1.5 0.3 (2.2) UAE Oman Saudi Arabia Bahrain Kuwait Qatar 5 10 15 20

Q1'16 Q1'17 Q1'18 Q1'19 Q1'20

Abu Dhabi Dubai Other Emirates

6

UAE - other indicators

UAE PMI indicates a contraction in the private sector economy3

2019e Nominal GDP

(USD Bn)

2020f Fiscal Balance1B

(% GDP)

2019e Gross Debt

(% GDP)

A robust and diversified economy1A Uptick in projects awarded, led by Govt4

(USD Bn)

779 406 192 138 77 38

Saudi Arabia UAE Qatar Kuwait Oman Bahrain

(12.6) (11.1) 5.2 (11.3) (16.9) (15.7) 23.2 20.1 53.2 15.2 59.9 101.7

UAE remains top FDI destination in GCC2

44.1 40 45 50 55 60

Apr-15 Apr-16 Apr-17 Apr-18 Apr-19 Apr-20 1 IMF World Economic Outlook 1A - October 2019 , 1B – April 2020 2 World Investment Report 2019 - UNCTAD Federal Competitiveness and Statistics Authority 3 Markit Economics-PMI (Purchasing Manager Index), Bloomberg (Apr 2020) 4 Meed Projects, Apr 2020 5 Abu Dhabi, Department of Culture and Tourism ; Dubai, Department of Tourism and Commerce Marketing

(USD Bn)

• Projects awarded in Q1’20 jump 91% QoQ (based on

value) led by Government of Abu Dhabi

Hotel guests + occupancy - Abu Dhabi & Dubai5

90 79 72 69 73 120 108 104 96 85 75% 73% 72% 72% 73% 77% 78% 78% 76% 75%

• 50

100 150 2015 2016 2017 2018 2019

RevPAR - Abu Dhabi (LHS) RevPAR - Dubai (LHS) Occupancy rate - Abu Dhabi (RHS) Occupancy rate - Dubai (RHS)

17.5% 8.1% 9.3% 3.7% 2.1% 7.6% 4.7% 6.2% 0.8% 5.1%

Abu Dhabi Tourist Growth(YoY) Dubai Tourist Growth(YoY) (USD)

• Subdued economic growth and COVID-19 push PMI

to an all-time low

14% 40% 7% 6% 8% 24% Construction and Real Estate Mining and quarrying Manufacturing Trade, Restaurants & Hotels Finance Others

14% 26% 9% 13% 9% 29%

• 8.8%
• 6.8%
• 20%
• 10%

0% 10% 20% 30% 40% 50%

Mar'14 Mar'15 Mar'16 Mar'17 Mar'18 Mar'19 Mar'20

Abu Dhabi - All Properties (YoY Change) Dubai - All Properties (YoY Change)

7

UAE - other indicators (continued..)

1 Bloomberg OPCRUAE Index 2 Federal Competitiveness and Statistics Authority 3 Others include Agriculture, Utilities, Transportation, Communication, Government and Other activities 4 REIDIN, UAE Monthly Report Apr 2020

Oil Production and Price1 Sale prices - mainstream residential market property4 Rental prices - mainstream residential market property4

• 5.2%
• 9.2%
• 20%
• 10%

0% 10% 20% 30%

Mar'14 Mar'15 Mar'16 Mar'17 Mar'18 Mar'19 Mar'20

Abu Dhabi - All Properties (YoY Change) Dubai - All Properties (YoY Change)

2018 Nominal GDP breakdown2

3.7 27 20 40 60 80 100 2.0 2.5 3.0 3.5 4.0

Oil Production (Mn bl/day) (LHS) Brent Monthly Average (USD/bl) (RHS)

UAE

USD 414Bn

Abu Dhabi

USD 254Bn

• Oil production cuts from OPEC+ agreement to come into effect starting May 2020, with

additional voluntary cuts of 100k bl/day from June 2020 committed by UAE

93% 93% 90% 87% 87% 88%

8

Sound and highly capitalised banking sector

• UAE banking sector : 21 Local and 38 Foreign banks (Incl. 11 wholesale banks)
• FAB is one of the 4 Domestic Systematically Important Banks (DSIBs) in UAE

Key Highlights UAE Banking Sector Key Indicators1 Loan and deposit growth trend1 Market Share (UAE listed banks & FIs)4

LDR1

8.0% 5.8% 1.7% 4.3% 5.7% 4.9% 3.5% 6.2% 4.1% 7.9% 6.5% 5.9%

2015 2016 2017 2018 2019 Mar'20

Credit growth, net (YoY) Deposits growth (YoY)

As of 31 Mar’20

• Credit growth yoy (Mar’20) led by Govt sector (+16%) and GREs (+17%)
• Deposit growth yoy (Mar’20) led by GREs (+34%) and Private sector (+4%)

31% 29% 28% Assets Gross Loans Deposits

1 Source: UAE Central Bank, UAE Banking Indicators 2 Net of provisions 3 Total advances (net lending + net financial guarantees & stand-by LC+ Interbank placements more than 3 months)/ sum of (net free capital funds + total other stable resources) 4 Source: Bloomberg, data available for 9 listed banks as of 12 May 2020

FAB

733 Listed Banks total

USD Bn

438 476 Figures in USD Bn Mar’20

YTD YoY

Total Assets, net2 813

1.3% 7.8%

Loans and Advances, net2 443

0.3% 4.9%

Customer Deposits 504

• 1.0%

5.9%

LDR2 88%

+113bps

• 84bps

Lending to Stable Resources Ratio3 82%

+130bps

• 40bps

CAR(Basel III) 16.9%

• 70bps
• 100bps

CET1 (Basel III) 13.9%

• 70bps
• 70bps

Monetary measures by UAE Central Bank

• AED 50Bn (USD 13.6Bn) TESS facility to provide zero interest rate

collateralised loans to banks (until 31 Dec 2020) – 77% utilised by banks as of 16th May 2020

• AED 61Bn (USD 16.6Bn) from reduction in cash reserve requirements ratio
• n demand deposits to 7% from 14%
• AED 95Bn (USD 25.9Bn) Liquidity Buffer - flexibility to maintain a minimum

LCR of 70% (reduced from 100%) and a minimum ELAR of 7% (reduced from 10%)

• AED 50Bn (USD 13.6Bn) Relaxation in capital buffers – 60% of CCB (capital

conservation buffer) and 100% of D-SIB buffer (until 31 Dec 2021)

• Application of prudential filter by banks to incremental IFRS9 expected loss

provisions (5-year phasing period ending 31 Dec 2024)

AED 256Bn (USD 69.7Bn)

9

FAB is taking decisive actions in response to COVID-19

We activated a robust Business Continuity Plan, enabling the bank’s functions to operate with speed and efficiency while limiting exposure

• Activation of Work From Home in UAE and across international

locations for 80% of our staff (ex critical functions)

• Use of cloud based virtual desktop capabilities
• Restrictions on travel
• Limiting physical meetings, availing video and tele-conferencing
• IT infrastructure scaled up to accommodate WFH
• Enhanced cybersecurity, fraud prevention and monitoring

We took care of our employees, to safeguard their health and safety

• Extensive internal communication, health tips reminders
• Tele/Video doctor consultations
• Employee wellbeing programmes
• Medical/testing support for reported cases
• Extensive sanitisation measures across our facilities
• Front line staff provided with masks, gloves, thermal

scanning, etc

As the leading UAE Bank, it is our duty to support our customers and communities through these challenging times

• Financial relief measures for individual, SME and corporate

customers inline with TESS1 (payment deferments, reductions of charges, fee waivers etc.)

• Leveraging our digital platform to deliver uninterrupted banking

services, with a multitude of products and services accessed through online and mobile channels and available 24x7

• 31 branches (40% of UAE network) remained open with reduced

hours for essential banking needs

• Continued to actively engage with clients and support their

specific needs while conservatively managing liquidity

• Facilitated UAE’s first ever virtual General Assembly

Meetings (6 conducted so far)

• AED 1Mn to the Emirates Foundation to provide food boxes

to people in need during the Holy Month of Ramadan

• AED 2Mn to Emirates Red Crescent (ERC) to provide meals

for frontline health professionals and meal boxes to support people in need to safely break their Ramadan fasts

• AED 5Mn to provide laptops to students for distance

learning, in partnership with the Ministry of Education

1 TESS – Targeted Economic Support Scheme by UAE CB, April 2020

FAB in Brief

11

 The largest bank in the UAE by total assets and market capitalisation, with the strongest combined credit ratings

• f any other bank in MENA

 A dominant and diversified banking franchise with market-leading corporate and personal banking businesses, and a presence across 5 continents  Robust foundation with a strong balance sheet and solid fundamentals  On a clear path to deliver superior and sustainable shareholder returns

227

USD Bn Assets

29

USD Bn Market Cap

13.0

per cent RoTE

29.1

per cent CI ratio

(ex-integration costs)

12.2

per cent CET1

AA-

and equivalent by Moody’s/ S&P / Fitch

1 #22 - Safest commercial banks worldwide ranking by Global Magazine; #86 - Tier 1 capital strength ranking by The Bankers’ 2 All figures as on 31 March 2020

One of the safest and strongest banks globally1

12

Strong overall profile

• 1. Most important D-SIB in Abu Dhabi & UAE financial landscape

 Prime banker of Abu Dhabi Government  ADIC & Mubadala Devt Co. (100% owned by Govt of Abu Dhabi) have a combined shareholding of 37%  The largest bank1 in the UAE by total assets and market capitalisation

• 2. Well-diversified and leading banking franchise

 A diversified franchise with market-leading corporate and personal banking businesses in UAE, and a global presence across 5 continents  Strong Board composed of prominent figures of AD public and private community

• 3. Solid capital and earnings profile, and stable asset quality metrics

 Net profits of USD 656Mn in Q1’20 and Revenue of USD 1.2Bn  Industry-leading cost-income ratio (ex-integration costs) of 29.1%  Q1’20 CET1 of 12.2% and Tier-1 of 14.3%, ahead of minimum CET1 regulatory requirement of 11%  Industry-leading NPL ratio of 3.5% and a provision coverage of 95%  Cost of risk (on loans and advances) of 70bps for Q1’20

• 4. Diversified funding profile and robust liquidity

 Enhanced platform for further diversification of deposit base and wholesale funding  Liquidity coverage ratio of 110% as at March-end 2020

(1) #1 UAE Bank, #2 Bank in MENA based on Q1’20 total assets of USD 227Bn (2) All figures as of 31 March 2020 / Q1’20 financials, unless stated otherwise * Moody’s/S&P/Fitch

AA-

FAB has the strongest combined* credit rating amongst any

• ther bank in

MENA

* or equivalent

13

FAB at a glance

All figures as on 31 March 2020 ӏ 1 Full Time Employees, excludes outsourced staff ӏ 2 includes Ratibi (Wages Protection System) and E-dirham customers The above map summarises market presence for FAB and its subsidiaries, where the Group currently has active operations; For information about legal presence please refer to Notes #3 and #29 of March-end 2020 financial statements

Europe, Americas, Middle East & Africa (EAMEA)

France UK Switzerland USA Brazil

Asia Pacific (APAC)

China/Hong Kong India Labuan (Malaysia) Singapore South Korea UAE Bahrain Egypt Kuwait Libya Oman Saudi Arabia

FAB is the result of the historic merger between two iconic Abu Dhabi-based franchises (FGB and NBAD) in 2017 Largest UAE bank and one of the largest in MENA by total assets (AED 835Bn, USD 227Bn) and market capitalisation (AED 105Bn, USD 29Bn) Offers an extensive range of products and services via market-leading Corporate and Investment Banking (CIB) and Personal Banking (PB) franchises

5

Continents

75 528 5,345 >3 Million

Global presence Branches/ Cash offices in UAE ATMs/CDMs in UAE Employees globally (FTEs1) UAE Customers2

LT Aa3 AA- AA- ST P-1 A-1+ F1+ Outlook Stable Negative Stable

14

The safest and strongest bank in the Middle East

Strongest combined credit ratings amongst any other bank in MENA Recognised as one of the safest and strongest banks worldwide

in UAE & Middle East in Emerging Markets Safest Commercial Bank Worldwide

#1 #4 #22

1 Global Finance Magazine safest bank rankings, September 2019 2 The Banker’s 2019 Top 1000 World Banks Rankings, July 2019

#1

in UAE

by Tier 1 capital strength

#86

Worldwide

by Tier 1 capital strength

Safest banks’ rankings by Global Finance

1

Top 1000 banks’ rankings by The Banker

2

#2

in Middle East

by Tier 1 capital strength

#108

Worldwide

by Total Assets

A+ AA- AA

15

Globally outstanding rating and returns

Notes: Based on the available financials on Bloomberg, RoTE for peer banks are estimated as: {net attributable profit less Tier-1 interest or Coupon payable on capital securities} / [average tangible equity]; ^Banks in the above peer group have different financial year endings; FY ending other than 31-Dec are highlighted with special characters: * for 31-Mar; ** for 30-Jun; *** for 30-Sep & **** for 31-Oct; Source: Bloomberg

FAB is amongst the most profitable AA- rated banks globally

AA+ A A- BBB+ BBB BB+ BBB- BB

Composite Rating Return on Tangible Equity (%)

Western banks GCC banks APAC banks

ADIC PJSC, 33.36% Mamoura Diversified Global Holding PJSC, 3.68% Other UAE companies and individuals, 46.24% GCC (ex-UAE) 1.34% Foreigners (ex-GCC) 15.43%

Mubadala Investment Company 37.04%

16

Share Profile

Strong shareholding3

• Listed on Abu Dhabi Securities Exchange (ADX)
• Symbol: FAB, ISIN: AEN000101016
• Market cap: AED 105Bn (USD 29Bn)
• No. of shares issued: 10,920Mn
• Foreign Ownership Limit (FOL): 40%
• Free Float2: 43%
• Valuation multiples (based on Q1’20 financials)

P/TE 11.8x P/TB 1.7x D/Y 7.7% (2019 dividend)

Overview1

Abu Dhabi Securities Market Index ADSMI 38.99% Bloomberg EMEA Banks Index BEUBANK 2.84% MSCI EM MXEF 0.15% MSCI EM Banks MXEF0BK 0.95% FTSE Emerging Index FTAG01 0.26% MSCI EM ESG Leaders5 M1EFES 0.43%

Index Weightings1 :

4 1 Based on closing prices as of 31 March 2020 and Q1’20 financials 2 Free float designates FAB shares available for purchase in public equity markets which are not strategic in nature 3 Shareholding percentage based on outstanding shares (net of 18.7Mn treasury shares) as of Mar-end 2020 4 Through its 100% owned subsidiaries ADIC PJSC and Mamoura Diversified Global Holding PJSC (formerly known as Mubadala Development Company PJSC); MIC is 100% owned by the Emirate of Abu Dhabi 5 As of Nov 2019

FAB is the largest constituent on ADX, contributing 22% of turnover on ADX & DFM (combined) in 2019

17

Leading UAE and regional bank

1 Central Bank information as of 31 March 2020; as of 29 Feb 2020 for Bahrain 2 Company information as of 31 March 2020, except as stated otherwise 3 Defined as the largest bank in the country by total assets 4 Based on 31 March 2020; Source Bloomberg

852 724 432 232 208 93

UAE Qatar KSA Kuwait Oman Bahrain

Banking sector assets1

(USD Bn)

National champion2,3 0.66 0.75 0.97 1.32

(FY’19)

0.73

(FY’19)

0.09 Q1’20 Net Profit2

(USD Bn)

227 142 262 97

(FY’19)

32 25.6 17.3 24.1 14.1

(FY’19)

4.9 Total Assets2

(USD Bn)

Equity2

(USD Bn)

Market Cap4

(USD Bn)

28.7 27.6 42.2 15.6 6.5 2.7 Credit Ratings4

(Moody’s/S&P/Fitch)

Aa3 / AA- / AA- A1 / BBB+ / A- Aa3 / A / A+ Aa3 / A / AA- NA / BBB / BBB- Ba2 / BB- / BB 40

(FY’19)

5.4

(FY’19)

NCB QNB NBK AUB Bank Muscat FAB

18

Key financials at a glance

Balance sheet & Income Statement

TOTAL ASSETS (USD Bn) LOANS & ADVANCES (USD Bn) CUSTOMER DEPOSITS (USD Bn) TANGIBLE EQUITY1 (USD Bn) OPERATING INCOME (USD Bn) NET PROFIT (USD Bn)

1 Post-dividend

182.1 202.5 223.8 Dec'17 Dec'18 Dec'19

CAGR 2017-2019: 11%

90.0 96.1 111.1 Dec'17 Dec'18 Dec'19

CAGR 2017-2019: 11%

107.8 126.7 141.3 Dec'17 Dec'18 Dec'19

CAGR 2017-2019: 15%

19.3 19.4 21.1 Dec'17 Dec'18 Dec'19

CAGR 2017-2019: 4%

Dividends

USD Bn

2.20 2.20 2.08

5.3 5.3 5.5 Dec'17 Dec'18 Dec'19

CAGR 2017-2019: 2%

3.0 3.3 3.4 Dec'17 Dec'18 Dec'19

CAGR 2017-2019: 7%

19

Key financials at a glance

Key ratios

NIM - YTD (%) NPL RATIO1 (%) PROVISION COVERAGE1 (%) COST-TO-INCOME RATIO - YTD (%)

(EX-INTEGRATION COSTS)

ROTE3 - YTD (%) RORWA - YTD (%) NON-INT INC / REVENUES (%) CET1 & CAR2 (%)

1 2017 figures are pre-IFRS9 implementation 2 Capital ratios are post dividend as per UAE CB’s Basel III framework 3 Return on Average Tangible Equity, annualised; based on attributable profit to equity shareholders' excl Tier 1 notes coupon Ratios annualised, based on actual/365 day count, where relevant

2.48 2.36 2.11 FY'17 FY'18 FY'19 12.8 12.4 13.5 16.2 15.7 16.9 Dec'17 Dec'18 Dec'19 CET1 CAR 3.09 3.15 3.23 Dec'17 Dec'18 Dec'19 120 110 93 Dec'17 Dec'18 Dec'19 27.7 25.8 26.8 FY'17 FY'18 FY'19 32.9 33.0 36.9 FY'17 FY'18 FY'19 14.6 16.2 16.1 FY'17 FY'18 FY'19 2.26 2.46 2.56 FY'17 FY'18 FY'19

20

Our strategy is based on 5 pillars

1 2 3 4 5

Mobile-centric digitisation Growth and leadership in PBG Regional dominance and international relevance in CIB Talent mobilisation Drive value from scale

• Digitise customer

journeys

• Launch digital

ventures and new business models

• Become a data-driven

company through advanced analytics, AI

• Build a modern and

flexible technology foundation

• Enhance value

proposition across key segments and products

• Digital investments:

acquisition and servicing capabilities

• Accelerate

international growth (KSA, Egypt, private banking)

• Strengthen leadership

position in UAE

• International: grow in

KSA and Egypt, dominate MENA trade flows

• Expand product
• ffering, focus on flow

business and cross-sell

• Elevate customer

convenience through digital

• Strengthen and evolve

unified culture

• Acquire new talent to

support transformation and cultural shift

• Enable employees to

acquire new skills and capabilities

• Drive organic growth

across segments and geographies

• Opportunistically

pursue transactions that create significant value

“Creating value for our customers, employees, shareholders and communities to grow stronger through differentiation, agility and innovation”

Our Vision

21

Our CIB franchise

CIB contribution to Group FY’19 metrics

Client led franchise with global connectivity Market leading capabilities Preferred banking partner for Govt/GREs/Corporates Strong and diversified liability franchise

63% 55%

Profit After Tax Revenue

81% 76%

Customer Deposits Loans & advances

Dominant CIB franchise

Best Investment Bank in the UAE 2018, 2019 Best Bank for Cash Management in the UAE 2019 Best Bank for Financing in the MEA 2019 Middle East’s Best Banks for Asia 2018, 2019 Best Loan Arranger in the ME 2019

22

Our PBG franchise

branches and pay offices in UAE with a presence across all 7 emirates

3Mn

PBG contribution to Group FY’19 metrics

Largest bank in the UAE

75

More than Customers1 Serve all types of customers Full suite of products Large distribution network Trusted brand Strong Government Relationships

28% 37%

Profit After Tax Revenue

19% 24%

Customer Deposits Loans & advances

1 includes Ratibi (WPS) and E-dirham customers

23

Our commitment to sustainability

Voluntary initiatives and public commitments in alignment with national and global frameworks FAB’s robust framework is anchored on 4 strategic pillars

Note: Please refer to the Sustainability section of our corporate website to learn more about FAB’s sustainability practices and disclosures (including FAB’s Corporate ESG, Green Bond and Equator Principles Reports)

Governance, Integrity and Risk Management Sustainable Banking Responsible Employer Positive Societal Impact

In 2016, we committed to facilitate financing USD 10 Billion of sustainable projects over 10 years

Exceeded in 2019, 6 years ahead of schedule

24

Our commitment to sustainability

Our Green Bond Framework

Our ESG Ratings

Note: Please refer to the Sustainability section of our corporate website to learn more about FAB’s sustainability practices and disclosures (including FAB’s Corporate ESG, Green Bond and Equator Principles Reports)

A

MSCI ESG Carbon Disclosure Project (CDP) Score

B

With the FAB Green Bond, we are playing a key role in developing the green bond market in the Middle East and helping drive the UAE toward achieving its national sustainability targets and its intentions to be a leader in renewable energy through sustainable environment and infrastructure.

Our latest published reports

To access our latest reports, please refer to the sustainability section of our corporate website: https://www.bankfab.com/en-ae/about- fab/sustainability/reports

2019 Highlights

1st Financial Institution in the MENA region to commit to implementing the recommendations of the Task Force on Climate Related Financial Disclosures (TCFD) In 2019 we trialed our financial literacy pilot with People of Determination. We strive to be a respected community partner that continues to improve the financial wellbeing of our customers, our employees, our stakeholders and our communities. Sole mandated lead arranger, lender and facility agent for the MENA region’s first SDG loan and the first SDG facility availed by a commercial airline globally, providing funding to Etihad in support of their long term lease of the Etihad Eco-Residence located in Masdar City FAB issued the first Green bond from the MENA region in 2017; followed with 1st two private placements from the MENA in 2019 Drafted one of the first Group Policies for the removal

• f single use plastics within the region to support our

commitment on becoming single use plastic free FAB is the highest scoring bank in the region, strengthening our commitment to continue to improve our position in the years ahead.

• 70% yoy increase in mobile registrations and engagement
• Consistently high NPS scores and usage of our mobile app
• Successful migration of key services to mobile – c.90%

transactions performed digitally for migrated services

For eg. All card activations migrated to mobile banking channel

• New functionalities introduced on our mobile app and digital

wallet (Pay-it)

• Customers can now join FAB and open an account or credit card

though our mobile app without visiting Branch

• Substantial increase in clients adopting electronic channels in

GTB: (>90% vs. ~60% a year ago), introduction of Blockchain for Trade Finance (UAE trade connect)

• Process efficiencies through RPA implementation, AI
• Leveraging data analytics to offer value-add solutions to clients
• Instilling a tangible culture of innovation through various

initiatives

25

Significantly progress in digital transformation

Q1’20 financial performance review

We have witnessed unprecedented market disruption due to the COVID-19 pandemic We delivered a resilient performance in Q1’20 with a net profit of USD 656Mn, despite rate cuts, adverse market conditions and prudent provisioning We maintained a strong balance sheet, with solid liquidity, funding, capital and healthy asset quality As the leading UAE bank, FAB is taking decisive actions in order to support its employees, customers, and communities navigate challenging times Our competitive strengths and strategy, position us well to continue to deliver sustainable returns to our shareholders

27

Q1’20 performance key highlights

846

656

+13 (102) (11) (90) Q1'19 NPAT Operating Income Operating Costs Impairment charges,net Taxes & Minority Interest Q1'20 NPAT

28

We delivered a resilient performance in Q1 2020

Net profit bridge (USD Mn)

Q1’20 1,243 368 201 18 656

YoY change

• 8%

+3% +81%

• 41%
• 22%

QoQ change

• 10%
• 4%

+48%

• 22%
• 22%

NPAT was lower 22% yoy due to:

• Lower revenue on the back of rate cuts

and adverse market conditions, partly

• ffset by continued momentum in PBG,

and positive underlying trends in strategic areas, particularly fee-generating businesses and flow products

• Higher impairment charges include

management overlays in light of a more challenging operating environment

• Cost discipline despite ongoing

investments in key strategic initiatives

29

Flight-to-safety benefits FAB in the current environment

1 Excluding short-term government outflows early in the quarter, deposits grew 2% qoq 2 Rated Aa3 / AA-/ AA- by Moody’s / S&P / Fitch 3 USD or equivalent

Strong Liquidity & Funding profile

AA- rating2

Deposits up 2% qoq1

Int’l franchise provides liquidity diversification

LCR > 100%

LDR < 80%

Strong cash balances and liquid assets

HQLAs of USD 65Bn

UAE CB TESS facility and liquidity relief measures

FAB was allocated USD 2.2Bn

USD 1.2Bn3 maturities remaining in 2020

USD 1.8Bn3 Matured in Q1’20

USD 2Bn3 wholesale funding raised in Q1’20

44.0 47.1 48.0 47.4

49.3

73.8 78.7 81.8 94.0

86.1

117.8 125.8 129.8 141.3

135.3

Mar'19 Jun'19 Sep'19 Dec'19 Mar'20 Notice, Time & Others CASA

30

Underlying business momentum continues

Loans and advances, net (USD Bn) Customer deposits (USD Bn)

QoQ↓4%, YoY↑15% 71.6 73.4 76.8 84.4

77.6

25.8 26.0 26.0 26.6

26.3

0.3 0.2 0.03 0.04

97.7 99.7 102.8 111.1

104.0

Mar'19 Jun'19 Sep'19 Dec'19 Mar'20 Others PB CIB LCR (%) 117 137 146 129

110

LDR (%) 83 79 79 79

77

Minimum regulatory LCR requirement is 100% effective Jan’19; relaxed to 70% until 31 Dec 2020 under TESS by UAE CB

QoQ↓6%, YoY↑6%

• Loans and advances (net) were up 6% yoy (+6Bn), down

6% qoq due to a large short-term facility which was fully repaid in early January. Excluding this one-off, loans and advances are up 1% reflecting continued momentum across core businesses, despite COVID-19 disruption

• Customer deposits were up 15% yoy (+18Bn). They

were down 4% sequentially due to short-term government outflows earlier in the quarter, however up 2% (+2Bn) on an adjusted basis driven by strong increase in corporate and private sector deposits

• FAB’s International network is a key differentiator to

source liquidity and funding; international deposits were up 13% (+4Bn) qoq, and up 21% yoy

• FAB continued to attract liquidity from its global client

franchise, owing to its safe haven status and flight-to- safety in periods of market turmoil

• CASA balances grew 4% (+2Bn) sequentially and 12%

(+5Bn) yoy to USD 49Bn, representing 36% of customer deposits

10%

46%

16% 7% 21%

31

A high-quality and diversified asset mix

Total Assets - Mar’20

USD 227.4Bn

44% of Assets in cash & liquid assets

Cash & CB Balances Due from Banks and Reverse Repos Investments

Loans and Advances, net

Other Assets

• USD 39Bn – cash and balances with CBs1
• 82% of investments are investment-grade



28% exposure to high quality Government & GREs

with minimal or no default history



Another 3% of corporates closely linked or backed by the Government



8% short-term trade loans



Diversified economic sector exposure

1 excluding cash reserve deposits

FAB is in a unique position in the UAE banking landscape with a loan portfolio geared towards high-quality assets in light of the bank’s privileged position as the strategic partner to the Abu Dhabi government and related entities

111 127 128 136

201

50 49 50 48

70

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Net impairment charges CoR (L&A) (bps) 3.3 3.1 3.3 3.7

3.8

3.5 3.5 3.6 3.4

3.6

Mar'19 Jun'19 Sep'19 Dec'19 Mar'20 NPLs Provisions

32

A more challenging credit environment

106 111 109 93

95

3.3 3.1 3.1 3.2

3.5

Provision Coverage (%) NPL Ratio (%)

Impairment charges, net (USD Mn) & CoR1

1 Annualised 2 For further details, refer to note #4 of Q1’20 financial statements Use of estimates and judgements – Impact of COVID-19 Note: Gross loans and advances and NPLs are net of interest in suspense; see Note #5 Credit Risk in financials for more details on IFRS9 exposures and ECL

NPLs and Provisions(USD Bn)

• NPLs = Stage 3 exposure + adjusted POCI (Purchase or originally impaired credit) of

USD 1,271Mn as of Mar’20 considered as par to NPLs, net of IIS

• ECL/ Provisions = ECL on loans & advances (USD 3.2Bn) + ECL on unfunded exposures

(USD 170Mn) + IFRS9 impairment reserve (USD 261Mn)

• NPLs were USD 3.8Bn compared to USD 3.7Bn as of end-Dec’19, with

no material deterioration in asset quality during the period

• Asset quality remained healthy with NPL ratio at 3.5%, stable

sequentially, when adjusting for the large short-term facility in Q4’19

• Impairment charges of USD 201Mn include management overlays

reflecting prudent provisioning in light of a more challenging

• perating environment
• Assessment of COVID-19 impact on SICR and ECL is ongoing in light of

the high degree of uncertainty surrounding recent events2

• Annualised CoR stands at 70bps, up from 48bps in FY19; with

provision coverage at 95%

• Our high quality portfolio, in addition to regulatory relief measures,

underpin the resilience of our risk metrics in the current environment

Key highlights

33

Cost discipline maintained

Opex drivers yoy (USD Mn)

339 354 365 368 349 6 6 5 5 7 12 12 13 13 12 358 372 382 385

368

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Amortisation of intangibles (merger-related) Integration costs Operating expenses (BAU)

Operating expenses trend (AED Mn) and Cost-income ratio (ex-integration) (%)

26.1 26.1 27.3 27.5 29.1 Change in BAU Opex: Q1’20 vs. Q4’19 – ↓5% Q1’20 vs. Q1’19 – ↑3% C/I ratio (ex-integration)

• xxx

358

368

+6 +16 (12)

Q1'19 Staff Costs Depreciation & Amortisation Other G&A Q1'20

• Operating expenses well under control, down

4% qoq (USD 17Mn), reflecting cost discipline amidst continued strategic and digital investments

• Q1’20 C/I ratio at 29.1% from 26.1% , mainly

due to lower revenue

• USD 408Mn cost synergy run-rate was fully

achieved in January, with further scope for future savings

• Cost discipline to be maintained through the

cycle, with initiatives underway to partially mitigate revenue and risk headwinds

15.2% 13.5%

12.2%

+0.5%

• 1.67%
• 0.38%
• 1.47%

CET1 Dec'19 FY'19 Dividends CET1 Dec'19 (post-dvd) Change in RWA Q1'20 profits Other movements CET1 Mar'20

34

Solid capital position

1 Return on Average Tangible Equity, annualised; based on attributable profit to equity shareholders' excl Tier 1 notes coupon 2 UAE CB has reduced the minimum CET1, Tier 1 and CAR requirement to 8%, 9.5% and 11.5% respectively until 31 Dec 2021 under TESS (previous minima of 11%, 12.5% & 14.5%, respectively) 3 CET1 and capital ratios updated post Q1’20 results announcement to reflect the application of prudential filter (incremental S1 & S2 ECL added back to CET1) in accordance with UAE CB guidelines

CET11 ratio progression qoq

• CET1 was 12.2%, 135bps lower sequentially

mainly due to adverse movement in AFS reserves reflecting market dislocations

• CET1 comfortably above Basel III minimum

regulatory requirement of 11.0%

• Temporary capital relief buffers prescribed

by the UAE CB under TESS, allow banks to use up to 60% of CCB and up to 100% of D- SIB buffers until 31 Dec 2021, freeing up 3%

• f capital ratio requirement, if necessary2

DPS: 20 cents 2.2Bn

Dec’19

YoY change Mar’20 CET1

USD 17.9Bn

• 8.2%

USD 16.5Bn RWAs

USD 132.1Bn

+2.6% USD 135.4Bn Tier 1

15.7%

• 148bps

14.3%2 CAR

16.9%

• 148bps

15.5%2

17.4 17.2 16.7 16.1

13.0

Q1'19 H1'19 9M'19 FY'19 Q1'20

RoTE trend (ytd)

Min req UAE CB2: 11%

• Q1’20 NII was up 1% qoq driven by lower funding costs
• NIM is up 1bps over Q4’19 as headwinds from rate cuts in H2’19

were offset by the positive impact of lower placements with central banks (offering negative interest)

• P&L impact from a +/-25bps parallel movement in interest rates

is estimated at ~+/-USD 74Mn1, if no offsetting action is taken by management

• Rate headwinds to be partly offset by volume growth, loan

repricing in a lenders market, and optimal balance sheet management

35

NII and margin trends

Key highlights

848 899 906 825 833 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20

Net interest income (USD Mn)

QoQ↑1%, YoY↓2%

2.16 2.25 2.17 1.89 1.90 2.21 2.19 2.11 Quarterly YTD 4.80 5.04 4.70 4.37 4.14 4.92 4.84 4.72 1.54 1.47 1.35 1.28 1.12 1.50 1.45 1.41 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20

Note: All percentage figures are annualised

Net interest margin (%) Performing loan yields (%) Cost of customer deposits (%)

FX & investment income down 36% yoy due to lower ALM revenue and negative MTM revaluations on investments and trading portfolios reflecting heightened risks and widening of credit spreads. This was partly offset by higher flow income as significant market volatility led to a spike in demand for hedging solutions across IR, FX and commodity space. Fees & commissions up 3% yoy on the back of higher asset management-related fees; up 7% sequentially as a result of higher loan-related fees

11 11 12 19

12

264 287 241 326

169

222 206 221 213

228

498 504 475 558

410

Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Net F&C income Net FX & Investment inc Other income

36

Non-interest income

Non-interest income (USD Mn)

QoQ↓27%, YoY↓18%

37% 36% 34% 40%

33%

Non-interest income % (of Group revenue) Key drivers

21% 5% 50% 16% 8%

21% 7% 46% 16% 10%

Cash & CB Balances DFB and Reverse Repos Loans and Advances Investments Others

Overdrafts 6% Term Loans 75% Trade related loans 9% Personal Loans 8% Credit Cards 1%

Vehicle financing loans

0.3% Agriculture 0.1% Energy 9% Manufacturing 6% Construction 3% Real Estate 21% Trading 7% Transport and communication 7% Banks 6% Other financial institutions 9% Services 5% Government 9% Personal - Loans & Credit Cards 13% Personal - Retail Mortgage 5%

16% 9% 18% 19% 43% 47% 17% 19% 6% 6% Dec'19 Mar'20 Banks Personal/ Retail Corporate/ Private Public Sector Government

37

Asset & loan mix

USD 108.0Bn Mar’20 USD 104.0Bn Mar’20 USD 108.0Bn Mar’20

108.0 114.8

Asset Mix Gross loans by counterparty (USD Bn) Gross loans by economic sector Net loans by geography2 Gross loans by product

1 1 Real Estate by geography: Abu Dhabi 45%, Dubai 26%, Other UAE 3%, UK 17%, Other Intl 9% 2 Based on loan origination / coverage

Mar’20 USD 227.4Bn

Dec’19 USD 223.8Bn UAE 73% GCC 7% Asia 9% Europe 7% MENA 2% America 2%

FVTPL - Debt 13% FVTPL - Equity & Funds 2% Amortised Cost (Debt Inv) 3% FVOCI - Equity 0.4% FVOCI - Debt 82% Sovereign 47% GREs 18% Covered Bonds (Banks & FIs) 3% Banks 24% Corporate/ Pvt Sector 6% Supranational 2% Europe 20% GCC 15% MENA (ex- GCC&UAE) 3% USA 10% Others incl A&NZ 3% Asia 19% UAE 30% AAA 10% AA 29% A 32% BBB 11% BB & below 10% Unrated - Debt 6% Equity & Funds 2%

38

Investments breakdown

USD 36.1Bn Mar’20 USD 36.1Bn Mar’20 USD 36.1Bn Mar’20 USD 36.1Bn Mar’20

Investments by type Investments by ratings Investments by geography Investments by counterparty

Note: All totals are Gross investments before ECL Sovereign bonds include sovereign guaranteed bonds issued by GREs, banks & FIs

82% of investments are investment grade

FVTPL – Fair value through profit or loss (previously HFT) Amortised cost – previously HTM FVOCI – Fair value through other comprehensive income (previously AFS)

29% 21% 17% 18% 32% 41% 16% 16% 6% 4% Dec'19 Mar'20 Government sector Public Sector Corporate / private sector Personal/retail sector Certificates of deposits 59% 59% 32% 34% 2% 2% 6% 4% 1% 1% Dec'19 Mar'20 Notice and time deposits Current Accounts Saving Accounts Certificates of deposits Margin Accounts UAE 75% GCC 4% Asia 2% Europe 10% MENA 2% America 7%

39

Customer deposits

USD 135.3Bn Mar‘20 37% 37% 37% 34% 36% 117.8 125.8 129.8 141.3 135.3 Mar'19 Jun'19 Sep'19 Dec'19 Mar'20 Total Customer Deposits CASA

1 Based on deposit origination / coverage 2 Current, savings and call accounts; prior periods reclassified to include call accounts earlier grouped with notice and time deposits

Customer deposits (USD Bn) Customer deposits by account type (USD Bn) Customer deposits by Counterparty (USD Bn) Customer deposits by geography1

2

141.3 135.3 141.3 135.3

47.9 14.1 29.5 10.1 62.0 39.6 Cash & AAA/AA bonds ST Wholesale Funding

Cash & Bal with CBs AAA & AA bonds DTB & Repos CDs & CPs

40

Liability mix and funding profile

Medium Term Notes 13.1 Sukuks 2.5 Subordinated debt 0.1 Total 15.7 1.2 0.7 2.2 1.5 1.9 0.6 5.1 0.7 1.3 0.5 0.1

2020 2021 2022 2023 2024 2025 2026 & Beyond MTNs Sukuks Subordinated debt

Cash & AAA/AA bonds vs. ST wholesale

Note: Debt at final maturity date rather than next call date

Medium-term wholesale funding (USD Bn)

(USD Bn) * FAB has access to place deposits with ECB & FED

Due to Banks & Repos 15% Commercial Paper 2% Customer Deposits 67% Term Borrowings & Sub Debt 8% Others 8%

Liability Mix

USD 201.8Bn Mar’20

• 30yr multi-callable USD 485Mn

Formosa

• 5yr USD 500Mn public Sukuk at

2.5%

• 5yr AUD 350Mn public

Kangaroo at BBSW +110bps

• 3yr GBP 450Mn public Sterling

at 1.375%

• 2-5yr USD 190Mn equivalent of

private placements Issuances USD equivalent 2.0Bn in Q1’20 Maturities USD equivalent 1.8Bn in Q1’20

• 5yr USD 750Mn public bond at

2.250%

• 5yr USD 900Mn public bond at

2.625%

• USD 150Mn equivalent of private

placements issued 2014-2018

53%

41

Segmental performance (by business)

Corporate & Investment Banking (CIB)

41%

Personal Banking Group (PBG)

• f Group

Revenue

• f Group

Revenue In USD Mn Q1’20 YoY % Revenues 660 (13) Operating expenses (147) 9 Impairment charges, net (48) (47) Profit after taxes 451 (13) Loans (USD Bn) 76.8 8 Deposits (USD Bn) 102.1 20 In USD Mn Q1’20 YoY % Revenues 507 7 Operating expenses (201) 4 Impairment charges, net (96) 169 Profit after taxes 205 (15) Loans (AED Bn) 26.0 2 Deposits (AED Bn) 27.0 (2)

• CIB Revenue delivered a resilient performance during an unprecedented period marked

by heightened volatility that also saw erosion of market liquidity and widening of spreads across asset classes. CIB revenue was down 13% yoy driven by: › Global Markets (-5%), on the back of negative MTM revaluations, offset partially by higher trading gains and increased client activity and cross-sell; GM sales revenue +16% yoy › Global Transaction Banking (-11%), primarily due to rate cuts in H2’19; partly offset by higher CASA balances; non-interest income was nevertheless up 1% yoy › Global Corporate Finance (-16%), performance was impacted by rate cuts, subdued market volumes and margin compression; robust balance sheet growth yoy led by Govt/GRE lending in UAE, and strong liquidity position

• PBG delivered a resilient performance in Q1’20 growing balance sheet and revenue

in a competitive market

• Operating income grew 7% yoy on the back of higher non-interest income, driven by

36% increase in net fees and commissions from higher lending related fees and asset management fees

• Enhanced product offerings, new partnerships and ongoing process improvements

supported business growth in Q1’20, although sales were partially impacted due to COVID-19 towards the end of the month

• Increase in loans and advances yoy in Q1’20 was mainly driven by growth in

mortgages

42

Segmental performance (by geography)

84%

UAE International (Europe, Americas, Middle East & Africa and Asia-Pacific)

• f Group

Revenue

• Revenues were significantly impacted due to rate cuts in H2’19 and negative MTM

revaluations in the AFS portfolio

• Revenues declined 9% yoy, contributing 84% to Group revenue, while operating

expenses were flat you on the back of cost discipline and synergy realisation

• Impairment charges, net increased 86% yoy as the Bank took pre-emptive provisions

in light of a more challenging environment

• Loan book grew faster than market, led by government/ GRE lending and

highlighting FAB’s position as the preferred banking partner to the Abu Dhabi Government and GREs

• Liquidity position remains strong, with customer deposits inflows up 13% yoy
• FAB’s international business remains a key differentiator supporting revenue and

risk diversification, contributing 16% to Q1’20 Group revenue (14% - FY’19)

• International revenue grew 3% yoy, led by higher contributions from Saudi Arabia,

Egypt, Hong Kong and India

• Increase in expenses reflects growth initiatives in targeted markets
• As of end-Q1’20, international loans and deposits represent 27% and 25% of Group

loans and deposits, respectively In USD Mn Q1’20 YoY % Revenues 1,044 (9) Operating expenses (291) ↔ Impairment charges, net (174) 86 Profit after taxes 579 (25) Loans (AED Bn) 75.8 8 Deposits (AED Bn) 101.8 13 In USD Mn Q1’20 YoY % Revenues 199 3 Operating expenses (78) 16 Impairment charges, net (27) 53 Taxes (21) 7 Profit after taxes 74 (18) Loans (USD Bn) 28.2 3 Deposits (USD Bn) 33.5 21

• f Group

Revenue 16%

Despite downside risks in the near term, our strategic actions position us well to continue to maintain balance sheet strength in the current environment, and deliver sustainable returns

43

Looking ahead

Our priorities

• Protect and raise liquidity leveraging our

competitive strengths and flight-to-safety status

• Conservatively manage our balance sheet

and deploy liquidity in a disciplined manner

• Extend support to our customers inline

with CB UAE TESS

• Leverage market-leading product

capabilities to offer best-in-class advice and

execution to clients in a uncertain environment

• Ensure cost and risk discipline, and

prudent provisioning in light of the evolving

dynamics of COVID-19 2020 Outlook Expected outcome

Loan growth Economic slowdown to be mitigated by government spending and a pick- up in demand in a lenders’ market Mid/high single digit

• ex. large one-off in

Q4’19 Revenue Growth Downward pressure from rate cuts and markets, to be partially offset by continued momentum in strategic areas and other initiatives C/I Ratio

(ex-integ. costs)

Cost optimisation initiatives to support operating efficiency <30% Cost of Risk Deteriorating operating environment to put pressure on risk metrics, partly mitigated by regulatory relief measures NPL ratio CET1 CET1 expected to remain above regulatory requirements Reiterating medium term CET1 floor guidance of 13.5% (pre-dividend)

44

Wrapping up

Our Q1’20 performance reflects an unprecedented environment We are focused on maintaining a robust foundation through solid liquidity, funding and capital ratios Our competitive strengths, in addition to the various relief measures implemented by local authorities, underpin our resilient profile in the current environment As the leading UAE bank, FAB will continue to take decisive actions in order to support employees, customers, and communities navigate challenging times Despite significant headwinds in the near term, we remain confident in our ability to deliver sustainable shareholder returns

Appendix

46

Q1’20 Key financials

In USD Bn Mar’20 Mar’19 YoY% Dec’19 YoY% Total assets 227.4 199.6 14 223.8 2 Loans and advances 104.0 97.7 6 111.1 (6) Customer deposits 135.3 117.8 15 141.3 (4) Equity (incl Tier 1 capital notes) 25.5 26.6 (4) 29.3 (13) % Q1’20 Q1’19 YoY% Q4’19 QoQ% C/I ratio (ex-integ costs) 29.1 26.1 299 27.5 159 RoTE 13.0 17.4 (445) 15.5 (258) NPL ratio 3.5 3.3 26 3.2 30 Provision coverage 95 106 lge 93 175 Liquidity Coverage Ratio (LCR) 110 117 (751) 129 lge CET1 ratio (post dividend) 12.2 12.7 (54) 13.5 (135)

P&L summary Key ratios

In USD Mn Q1’20 Q1’19 YoY% Q4’19 QoQ% Revenue 1,243 1,346 (8) 1,383 (10) Operating expenses (368) (358) 3 (385) (4) Impairment charges (201) (111) 81 (136) 48 Net profit (after minority interest) 656 846 (22) 839 (22)

Balance Sheet summary

47

Executed landmark transactions in Q1 2020

Debt Capital Market Loan Capital Market

First Abu Dhabi Bank USD 500 million Senior Sukuk 2.5% due 2025 Jan 2020 Joint Bookrunner Boubyan Bank USD 750 million Senior Sukuk 2.593% due 2025 Feb 2020 Joint Bookrunner First Abu Dhabi Bank GBP 450 million Senior Unsecured 1.375% due 2023 Feb 2020 Joint Bookrunner Gulf International Bank USD 90 million Senior Unsecured 3M Libor + 1.45% due 2025 Jan 2020 Sole Bookrunner Mazoon Electricity Company USD 155 million Bridge Loan Mar 2020 Bookrunner & Mandated Lead Arranger Bajaj Finance Limited USD 575 million equivalent Term Loan Facilities Jan 2020 Bookrunner, Mandated Lead Arranger Topaz Energy & Marine Limited USD 392 million Term Loan Islamic & Conventional Feb 2020 Mandated Lead Arranger , Global and Conventional Facility Agent Bakkavor Finance USD 455 million Term Loan & RCF Mar 2020 Mandated Lead Arranger Islamic Development Bank CNY 1.0 billion Senior Unsecured Sukuk 2.85% due 2023 Feb 2020 Sole Bookrunner Riyad Bank USD 1.5 billion Tier2 Trust certificates 3.174% 10NC5 due 2030 Feb 2020 Joint Bookrunner Novelis Corp USD 1.6 billion Senior Unsecured 4.75% due 2030 Febl 2020 Joint Bookrunner

Tata Steel Netherlands

EURO 1,750 million Term Loan Facility Jan 2020 Bookrunner, Mandated Lead Arranger & Facility Agent ONGC Videsh Limited USD 1 billion Term Loan Facility Mar 2020 Bookrunner, Mandated Lead Arranger & Facility Agent Oman Gas Company USD 800 million Term Loan Facility Feb 2020 Bookrunner & Mandated Lead Arranger Bank Muscat USD 650 million Term Loan Mar 2020 Bookrunner, Mandated Lead Arranger & Facility Agent Telecom Egypt Company USD 428 million Term Loan Jan 2020 Bookrunner, Mandated Lead Arranger, Facility Agent & Security Agent Altitude Borrower USD 621 million Term Loan Jan 2020 Bookrunner, Mandated Lead Arranger, Facility Agent & Security Agent First Abu Dhabi Bank USD 485 million Senior Unsecured Multi-callable Zero Coupon due 2050 Feb 2020 Structuring Agent First Abu Dhabi Bank AUD 350 million Senior Unsecured FRN due 2025 Feb 2020 Joint Bookrunner

48

Prestigious awards highlight FAB’s strength and industry expertise

Euromoney

• Best Investment Bank in the United Arab Emirates
• Best Bank for Transformation in Middle East

The Banker

• Most Innovative Investment Bank from the Middle East

Global Capital

• Best Fixed Income of the Year
• Most Impressive Middle East Bank Issuer

Global Trade Review

• Best Trade Finance Bank in MENA

Global Custodian Magazine

• Best UAE Custodian

Bonds, Loans & Sukuk

• Best FI Deal of the Year 2018
• Financial Institution Funding Team of the year

CMD Portal

• Best Sukuk Issuer

International Finance Magazine

• Best Cash Management Bank in the UAE

Asia Money

• Middle East’s Best Banks for Asia

FinX Awards

• Digital Transformation Leader of the Year

Wealthbriefing GCC AWARDS

• Fund Manager (Regional Reach)

Global Finance

• Best Bank in UAE
• Best Equity Bank in the Middle East 2018-20
• Best Debt Bank in the Middle East
• Best Investment Bank in the UAE 2018-20
• Best FX provider in UAE
• Best Bank for Cash Management in the Middle East
• Best Bank for Liquidity Management in the Middle East
• Safest Bank in the UAE
• Safest Bank in the Middle East
• Top 50 Safest Bank in Emerging Markets
• Top 50 Safest Commercial Bank
• Top 50 Safest Bank in the World
• The Innovators 2019 for Cash Management
• Best Trade Finance Provider in UAE

EMEA Finance

• Best Equity House in the Middle East
• Best M&A House in the Middle East

Seamless

• Best Seamless Government Experience

The M&A Atlas Awards

• Emerging Markets M&A Deal of the Year

The Asian Banker

• Strongest bank in the UAE and Middle East

Asset Asian Awards

• Sukuk House of the Year - UAE
• Best Islamic Deal of the Year
• Best Islamic Structured Trade Finance Deal of the Year

MENA Fund Manager

• Best Fixed Income of the Year
• UAE Asset Manager of the Year

Scan to download

For more information, please visit www.bankfab.com or contact FAB Investor Relations team at ir@bankfab.com You can also download FAB’s Investor Relations App from App Store /Google Play to access latest corporate updates

THANK YOU!