Investors Presentation | October 2015 www.bankaudigroup.com - - PowerPoint PPT Presentation

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Investors’ Presentation | October 2015

www.bankaudigroup.com

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CONTENTS

| Group Overview 4 | Major Entities 11 | Consolidated Financial Standing 15 | Main Strategic Orientations 22 | Share Information 23 | Appendix 25

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3 contained herein are subject to change without notice. None of Bank Audi

• r any of its subsidiaries or affiliates accepts any obligation to update or otherwise

revise any such information to reflect information that subsequently becomes available or circumstances existing or changes occurring after the date hereof. This presentation may not and will not be made directly or indirectly and may not be and will not be distributed in any jurisdiction in which it is unlawful to make such presentation or distribution under applicable laws and regulations. Persons who attend any meeting at which this presentation is used or distributed or who otherwise receive this presentation are required to make themselves aware of and adhere to any and all restrictions applicable to them. In particular, this presentation may not be made in, and may not be and will not be distributed, directly or indirectly, in or into the United States or to any U.S. Person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended “S”), other than as permitted by Regulation S, or to qualified institutional buyers as defined in and in accordance with Rule 144A under the U.S. Securities Act of 1933, as amended, and this document is not to be distributed, directly or indirectly, in Canada, Australia or Japan or to any citizen or resident of Canada, Australia or Japan. This presentation may only be attended by, and this document may only be distributed to, persons in member states of the European Economic Area who are qualified investors within the meaning of Article 2(1)(E) of the Prospectus Directive (2003/7/EC) (including any amendments thereto, including Directive 2010/73/EU, and including any relevant implementing measure in each relevant member state of the EEA) (“Qualified Investors”) and persons who (i) are outside the United Kingdom, (ii) who have professional experience in matters relating to investments, i.e. investment professionals within the meaning of Article 19(5) of the Financial Services an Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), and (c) are high net worth companies, unincorporated associations and other bodies to whom it may otherwise lawfully be communicated in accordance with Article 49 (2)(a) to (d) of the Order (all such persons, together with Qualified Investors, being referred to as “relevant persons” ). This presentation must not be acted on or relied on by persons who are not relevant persons and any investment or investment activity to which this presentation relates is available only to relevant persons and will be engaged in only with relevant persons. The information contained herein must be kept strictly confidential and may not be reproduced or redistributed in any format to any person other than the initial direct recipient hereof without the express written approval of Bank Audi. This presentation has been prepared by Bank Audi s.a.l. (“Bank Audi”); is for information purposes only and is intended only for the initial direct recipient hereof. It may not be reproduced or redistributed to any other person. It shall not and does not constitute either an offer to purchase or buy or a solicitation to purchase or buy or an offer to sell or exchange

• r a solicitation to sell or exchange any securities of Bank Audi and neither this presentation

nor anything contained herein shall form the basis of any contract or commitment whatsoever. Certain statements in this presentation may constitute “forward-looking statements”. These statements appear in a number of places in this presentation and include statements regarding Bank Audi’s intent, belief or current expectations. These forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “is expected to”, “will”, “will continue”, “should”, “approximately”, “would be”, “seeks” or “anticipates”; or similar expressions or comparable terminology, or the negatives thereof. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and actual results, performance or achievements of Bank Audi may differ materially from those expressed or implied in the forward-looking statements as a result of various factors. There are many factors which could affect Bank Audi’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. In addition, even if Bank Audi’s results of operations and financial condition and the development of the industry in which it operates are consistent with forward-looking statements contained herein, those results, condition or developments may not be indicative of results or developments in subsequent periods. Bank Audi does not undertake to update any forward-looking statements made herein. Past results are not indicative of future performance. While the information contained in this presentation and document has been prepared in good faith, no representation or warranty, express or implied, is or will be made and no responsibility or liability is or will be accepted by Bank Audi or any of its subsidiaries or affiliates or by any of their respective directors, officers, employees or agents as to or in relation to the accuracy or completeness thereof or for any loss arising from any use thereof and any and all such liability is expressly disclaimed. This document is not to be relied upon as such in any manner as legal, tax or investment advice and shall not be used in substitution for the exercise of independent judgment and each recipient hereof shall be responsible for conducting its own investigation and analysis of the information contained

• herein. Except where otherwise indicated, the information provided in this document is

based on matters as they exist as of the date stated or, if no date is stated, as of the date of preparation and not as of any future date, and the information and opinions

DISCLAIMER

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Group Overview: Covering the Europe – MENAT Corridors

CONNECTING CUSTOMERS TO OPPORTUNITIES – US$ 126 billion of inter –Arab trade turnover in 2014 – US$ 45 billion of Turkish Arab trade turnover in 2014

CORPORATE VALUES

Innovation

Transparency

Heritage Civic Role

Human Capital

Quality

11 BANKS & 3 FINANCIAL INSTITUTIONS IN 12 COUNTRIES

Lebanon Bank Audi Lebanon Audi Investment Bank Lebanon Audi Private Bank Jordan Bank Audi - Jordan Network Syria Bank Audi Syria Egypt Bank Audi Egypt Arabeya On-Line Sudan National Bank of Sudan Saudi Arabia Audi Capital Qatar Bank Audi Switzerland Banque Audi (Suisse) France Bank Audi France Monaco Audi Capital Gestion Turkey Odea Bank UAE Representative Office

Ranking by Assets

• No. 1 in Lebanon
• No. 19 in MENA

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FINANCIAL HIGHLIGHTS

Sep-15

• .w. Share
• f Lebanon
• .w. Share of

Investment grade countries

US$ Million

Assets 42,358 52.0% 32.1% Footings 61,127 41.7% 43.5% Customers’ deposits 35,829 54.7% 29.5% Loans to customers 17,015 35.3% 49.6% Assets Under Management 9,582 25.0% 59.3% Shareholders’ Equity 3,174 Net profits (9M-15) 304 53.9% 15.1% Branches 214 Staff 6,807 Universal Banking Profile Revenues breakdown Corporate / Commercial Banking 28% Retail / Personal Banking 26% Private Banking 10% Treasury & capital markets 33% Others 3%

CORPORATE HIGHLIGHTS

 185 years of banking tradition and experience  Rated by Moody’s, S&P and Fitch  First GDR issue in the MENA region in 1995  Wide and well diversified shareholders’ base  Accessed 15 times international markets through debt and equity issues  86.9% of university graduates staff of total staff in banking entities  Abiding by the Beirut and the London Stock exchanges regulations  Applying high corporate governance, compliance and AML standards

Group Overview: Corporate and Financial Highlights

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Notes to shareholders structure: 1 Percentage ownership figures represent Common Shares owned by the named Shareholders and are expressed as a percentage of the total number of Common Shares issued and outstanding. As at the date hereof, the Bank (and its affiliates) is the custodian of Shares &/Or GDRs representing 70.22% of the Bank’s common shares; 2 Excluding members of the Audi Family accounted for in a separate row appearing above; 3 As at the date hereof, Deutsche Bank Trust Company Americas, in its capacity as depositary under the Bank’s GDR Program, owned 116,238,117 Common Shares represented by GDRs; the Bank (and its affiliates) is the custodian of GDRs representing 64.40% of the total GDRs.

COMMON SHAREHOLDING STRUCTURE (30 September 2015)

Shareholders / Groups of Shareholders Country Percentage Ownership 1 FRH Investment Holding s.a.l. Lebanon 9.65% Audi Family Lebanon 6.90% Sheikha Suad Hamad Al Saleh Al Homaizi Kuwait 5.94% Sheikh Dhiab Bin Zayed Al-Nehayan UAE 4.97% Levant Finance 2 Limited Lebanon 4.74% Al-Sabbah Family Kuwait 4.71% Investment and Business Holding s.a.l Lebanon 3.44% Al-Hobayeb Family KSA 2.55% International Finance Corporation I.F.C 2.50% Ali Ghassan El Merhebi Family Lebanon 2.35% Said El-Khoury Family Lebanon 2.22% Kel (Cayman) Limited Lebanon 2.15% Executives & Employees 2 Lebanon 4.36% Others 14.44% Deutsche Bank Trust Company Americas 3 29.08% Total Shareholding 100.00% Common shares outstanding 399,749,204

More than 1,500 common shareholders (including GDRs holders)

Group Overview: Governance of Holding Bank

CORPORATE GOVERNANCE

BOD Structure 10 Members 5 Executive directors 1 Shareholders representative 4 Independent directors BOD Committees Group Executive Committee Group Audit Committee Corporate Governance & Nomination Committee Group Risk Committee Remuneration Committee Management Committees Credit Committee Asset-Liability Committee Information Technology Strategic Committee Anti-Money Laundering Committee Disclosure Committee Set of Charters Corporate Governance Guidelines Chart of Authorities Committees Charters

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Group Overview: Corporate and Social Responsibility (CSR) Pillars

Ethical conduct Compliance Anti-corruption Risk management Non-discrimination Product portfolio Economic performance Indirect economic impacts Procurement practices Market presence Local community development Local community support Employment practices Diversity & equal

• pportunity

Training, education, talent development External human development Emissions Effluents & waste Energy consumption ESMS

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www.bankaudigroup.com GROSS DOMESTIC PRODUCT In US$ Billion 2015F 10Y Growth 5Y Forecast MENA 2,452.5 4.7% 3.7%

• .w. Lebanon

54.4 4.9% 2.9%

• .w. Egypt

314.4 4.3% 4.5%

• .w. Syria

31.5 N/A N/A

• .w. Jordan

38.2 5.4% 4.0%

• .w. Sudan

84.3 3.5% 4.5%

• .w. Iraq

165.1 5.3% 6.1%

• .w. KSA

632.1 5.8% 2.9%

• .w. Qatar

192.1 13.4% 4.1%

• .w. UAE

339.1 4.4% 3.3% Turkey 722.2 4.8% 3.3% Total 3,174.8 4.7% 3.6% POPULATION In Million 2015F 10Y Growth GDP per Capita MENA 363.5 2.2% 6,747

• .w. Lebanon

4.6 1.3% 11,944

• .w. Egypt

88.4 2.3% 3,556

• .w. Syria

18.0 N/A 1,749

• .w. Jordan

6.8 2.2% 5,599

• .w. Sudan

38.4 N/A 2,194

• .w. Iraq

35.2 2.5% 4,694

• .w. KSA

31.4 3.0% 20,139

• .w. Qatar

2.4 11.5% 78,817

• .w. UAE

9.6 8.8% 35,391 Turkey 77.7 3.0% 9,290 Total 441.2 2.3% 7,195 ASSETS In US$ Billion Dec-14 Aug-15 Change MENA 2,903.5 2,971.6 68.1

• .w. Lebanon

175.7 181.6 5.9

• .w. Egypt

275.4 287.8 12.5

• .w. Syria

44.6 44.6

• .w. Jordan

63.3 65.9 2.6

• .w. Sudan

15.5 18.0 2.5

• .w. Iraq

115.8 115.8

• .w. KSA

568.7 588.9 20.2

• .w. Qatar

276.0 291.1 15.1

• .w. UAE

627.6 662.0 34.4 Turkey 859.9 809.2

• 50.7

Total 3,763.3 3,780.8 17.4

Figures in italic are the latest available (Egypt: Jul-15, Syria: May-11, Sudan: Jul-15, Iraq: Dec-13)

Group Overview: MENAT Operating Environment

LOANS In US$ Billion Dec-14 Aug-15 Change MENA 1,425.4 1,490.7 65.4

• .w. Lebanon

50.9 52.4 1.5

• .w. Egypt

88.0 94.0 6.0

• .w. Syria

14.1 14.1

• .w. Jordan

27.2 29.1 1.9

• .w. Sudan

7.4 8.4 0.9

• .w. Iraq

20.2 20.2

• .w. KSA

321.3 343.1 21.8

• .w. Qatar

178.6 196.2 17.6

• .w. UAE

375.2 398.7 23.4 Turkey 535.5 502.8

• 32.8

Total 1,960.9 1,993.5 32.6

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Group Overview: Business Segmentation

In US$ Million ASSETS LOANS NET PROFITS

BY GEOGRAPHY

Dec-10 Dec-14 Sep-15 Dec-10 Dec-14 Sep-15 2010 2014 9M-15 Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share

Lebanon1

20,403 71.1% 22,084 52.6%

22,006 52.0%

5,099 59.7% 5,768 33.6%

6,014 35.3%

265 75.2%

205 58.4% 164 53.9% Europe

2,005 7.0% 2,307 5.5%

2,518 5.9%

868 10.2% 1,124 6.5%

1,116 6.6%

10 2.8%

20 5.8% 18 5.8% Turkey

11,065 26.4%

10,825 25.6%

7,755 45.2%

7,193 42.3% 16 4.5% 24 7.9% MENA

6,281 21.9% 6,505 15.5%

7,009 16.5%

2,580 30.2% 2,524 14.7%

2,691 15.8%

77 21.9%

109 31.2% 99 32.5% Total

28,688 100.0% 41,961 100.0% 42,358 100.0% 8,548 100.0% 17,171 100.0% 17,015

100.0%

352 100.0%

350 100.0% 304 100.0% BY DEVELOPMENT PILLARS

Dec-10 Dec-14 Sep-15 Dec-10 Dec-14 Sep-15 2010 2014 9M-15 Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share

Lebanese Entities1

17,954 62.6% 20,688 49.3%

20,597 48.6%

4,735 55.4% 5,587 32.5%

5,835 34.3%

247 70.1% 184 52.7%

148 48.8% Turkey

11,065 26.4%

10,825 25.6%

7,755 45.2%

7,193 42.3%

16 4.5%

24 7.9% Egypt

2,717 9.5% 4,348 10.4%

4,961 11.7%

1,227 14.4% 1,775 10.3%

2,049 12.0%

27 7.5% 58 16.4%

56 18.3% Private Banking Entities

3,814 13.3% 3,104 7.4%

3,264 7.7%

861 10.1% 979 5.7%

984 5.8%

29 8.3% 44 12.5%

35 11.3% Other Entities

4,204 14.7% 2,755 6.6%

2,712 6.4%

1,723 20.2% 1,075 6.3%

954 5.6%

49 14.0% 49 13.9%

42 13.7% Total

28,688 100.0% 41,961 100.0% 42,358 100.0% 8,548 100.0% 17,171 100.0% 17,015

100.0%

352 100.0% 350 100.0%

304 100.0% BY COUNTRY RATING

Dec-10 Dec-14 Sep-15 Dec-10 Dec-14 Sep-15 2010 2014 9M-15 Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share Vol. Share

Sub-investment grade1

26,399 92.0% 28,321 67.5%

28,745 67.9%

7,593 88.8% 8,152 47.5%

8,578 50.4%

337 95.7% 305 87.0%

258 84.9% Investment grade

2,289 8.0% 13,640 32.5%

13,613 32.1%

955 11.2% 9,019 52.5%

8,436 49.6%

15 4.3% 46 13.0%

46 15.1% Total

28,688 100.0% 41,961 100.0% 42,358 100.0% 8,548 100.0% 17,171 100.0% 17,015

100.0%

352 100.0% 350 100.0%

304 100.0%

1 Including consolidation adjustments

Lebanese entities include: Bank Audi Lebanon, AIB, Solifac, Gamma, other Lebanese entities and consolidation adjustments Private Banking entities include: APB, BAS, Audi Capital Gestion , BAQ and AC-KSA, Other entities include: BAF, other European entities, BASY, BAJO, BASU, Aolb and other MENA entities

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2003

Group Overview: The Diversification Trend

REVENUES BREAKDOWN Interest Income Non-Interest Income EARNINGS BREAKDOWN Domestic Foreign ASSET BREAKDOWN Domestic Foreign 65% 35% 98% 2% 85% 15% 62% 38% 58% 42% 53% 47% 65% 35% 56% 44% 52% 48% 55% 45% 75% 25% 71% 29%

2010 2014 2015 E

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Opportunity Strategy Delivery

• n Strategy

 More than 700,000 accounts for 900,000 households in Lebanon  Largest commercial and corporate loans portfolio in Lebanon  Sustained improvement in retail cross selling from 3.4 product per customer in 2010 to 4.4 at end-September 2015  Strong economic and banking upside potential tied to improvement in regional prospects  Wide output gap providing pent up growth and financing opportunity  Favorable long term outlook, as the extraction of oil and gas is expected to put an end to the fiscal conundrum, expanding rapidly output levels and income per capita

The Largest Bank in Lebanon

1 Net of consolidation adjustments 2 Holding Bank

 Reinforce existing corporate and SMEs relationship while capturing growth opportunities  Focus on customer-centric retail model supported by the launch of innovative technologies, products and services  Pursue asset utilization optimization while reinforcing operational efficiency

Major Entities: Lebanon

ASSETS EQUITY EARNINGS US$ Million Sep-15 Sep-15 9M-15 Bank Audi 23,706 2,7192 141.2 Audi Investment Bank 400 212 5.9 Audi Private Bank 1,409 157 15.4 Solifac 174 27 1.4 Total Lebanon 1 22,006 3,174 163.8

Footprint

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 Europe out of recession on the back of improving economic outlook and export based recovery  Reduced market uncertainties and robust wealth pools fostering need for wealth and asset management services  Growing economic and financial ties between Europe and the Middle East

Long standing Presence in Europe

 Capitalizing on both ends of the commercial trade corridors between Europe, the Mena region and Turkey  Leveraging cooperation and synergies across private banking entities while transforming the wealth management

• perating model and enlarging the range of products and services

 Seek a presence in the United Kingdom to support the private banking development strategy and future expansion to Sub – Saharan Africa and Latin America

Major Entities: Europe

 US$ 438 million of outstanding loans and close to US$ 487 million of yearly trade finance turnover at Bank Audi France  Rising share of non Lebanese – non Arab customers at Banque Audi Suisse  US$ 3.9 billion of AUMs booked in Europe at end-September 2015 ASSETS EQUITY EARNINGS US$ Million Sep-15 Sep-15 9M-15 Bank Audi France 928 93 3.3 Banque Audi Suisse1 1,580 184 14.7 Total Europe 2,518 286 17.6

1 Assets and assets under management booked in Banque Audi Suisse reached US$ 5,429 million

Opportunity Strategy Delivery

• n Strategy

Footprint

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 Recent trends toward political normalization in Egypt enhancing banking environment and outlook  Ongoing economic diversification in GCC providing financial intermediation prospects  Rapid accumulation of regional private wealth and growing mass affluent segment  Preserve the franchise in countries facing political uncertainties while reinforcing a stringent risk policy  Capture opportunities to develop customer base thru the development of activities and branch rollup  Actively grow wealth management franchise  Resilient franchise in Egypt, managed through a network of 34 branches  US$ 1.4 billion of assets under management in Saudi Arabia  Sustained revenue generation of US$ 333 million in 9M-15 annualized

Present in 6 Countries of the MENA Region (excluding Lebanon)

1 Assets and assets under management booked in Audi Capital (KSA) reached US$ 1,485 million

Major Entities: Middle East and North Africa

ASSETS EQUITY EARNINGS US$ Million Sep-15 Sep-15 9M-15 Bank Audi - Jordan Branch Network 1,406 150 13.4 Bank Audi Syria 260 54 21.7 Bank Audi (Egypt) 4,961 354 55.7 National Bank of Sudan 86 60 1.6 Audi Capital (KSA)1 43 38 2.7 Bank Audi (Qatar) 227 55 1.7 Total MENA 7,009 725 98.7

Opportunity Strategy Footprint Delivery

• n Strategy

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 Service growing middle corporate segment offering large potential for financial services  Increased focus on developing value-added SMEs and consumer lending segment leveraging on the wide footprint in the MENA region to capture cross-border financing opportunities  Build a franchise ranking second to Lebanon in term of size and earnings  Rapid account franchise build up exceeding 800,000 accounts in just 35 months of operation  Profitable after 19 months since launch  1,506 staff count and 54 branches (including kiosk branches)  Turkey is a sizeable emerging country with a population of 78 million inhabitants and a GDP of US$ 722 billion, within a track record of sustained economic growth, reaching on average 5.4% per annum over the last 5 years  Despite current volatility, medium term economic prospects for Turkey are still promising especially within the context of the strong domestic growth drivers supported by the significant benefits from the decline in oil prices  Increasing yearly trade turnover with the Arab world, reaching around US$ 45 billion in 2014, an important share of which being with the countries of presence of Bank Audi

Ranked 10th among Non-state Conventional Deposit Taking Banks

Major Entities: Turkey

ASSETS EQUITY EARNINGS US$ Million Sep-15 Sep-15 9M-15 Odeabank 10,825 798 24.0

Opportunity Strategy Delivery

• n Strategy

Footprint

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www.bankaudigroup.com ASSETS & FOOTINGS INCOME STATEMENT

Consolidated Financial Standing: 9M-15 Performance Highlights

YTD In US$ Million Dec-14 Sep-15 Change % Primary liquidity 13,124 13,031

• 93
• 0.7%

Portfolio securities 10,100 10,710 610 6.0% Loans to customers 17,171 17,015

• 156
• 0.9%

Other assets 862 902 40 4.7% Fixed assets 703 700

• 3
• 0.4%

Assets= Liabilities 41,961 42,358 398 0.9% Bank deposits 1,475 1,869 394 26.7% Customers’ deposits 35,821 35,829 9 0.0% Other liabilities 1,317 1,486 169 12.8% Shareholders' equity 3,348 3,174

• 173
• 5.2%

AUMs + fid. dep. + cust. acc. 9,734 9,582

• 152
• 1.6%

Assets + AUMs 51,694 51,940 246 0.5% YOY In US$ Million 9M-14 9M-15 Vol. % Interest income 592.5 669.1 76.6 12.9% Non interest income 363.6 360.2

• 3.4
• 0.9%

Total income 956.0 1,029.2 73.2 7.7% Operating expenses 533.7 548.9 15.2 2.9% Credit expense 71.0 98.2 27.2 38.3% Net other provisions

• 0.3
• 0.1

0.1

• 53.9%

Income tax 71.7 78.1 6.3 8.9% Total expenses 676.2 725.0 48.9 7.2% Profit after tax 279.9 304.2 24.3 8.7%

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16 1,966 2,193 2,420 2,357 2,670 2,696 3,348 3,174 2008 2009 2010 2011 2012 2013 2014 Sep-15 6,129 6,747 8,548 8,594 10,428 14,713 17,171 17,015 2008 2009 2010 2011 2012 2013 2014 Sep-15 20,385 26,486 28,688 28,737 31,304 36,191 41,961 42,358 2008 2009 2010 2011 2012 2013 2014 Sep-15

ASSETS CUSTOMERS’ DEPOSITS LOANS TO CUSTOMERS SHAREHOLDERS‘ EQUITY CAGR 11.4% CAGR 11.4% CAGR 16.3% CAGR 7.4%

17,337 22,985 24,848 24,798 26,805 31,095 35,821 35,829 2008 2009 2010 2011 2012 2013 2014 Sep-15

In US$ Million In US$ Million In US$ Million In US$ Million

Steady and Resilient Growth

Consolidated Financial Standing: Activity Growth

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17 280 304 238 289 352 365 384 305 350 2008 2009 2010 2011 2012 2013 2014 2015 9M FY

1

KEY PERFORMANCE METRICS CAGR 11.4% CAGR 8.3%

1 Reflecting the initial stages of the launch of the fully-owned green field subsidiary in Turkey

2010 2011 2012 20131 2014 9M-15 Spread 1.78% 1.91% 2.05% 2.00% 2.10% 2.14% +Non interest income/ AA 1.43% 1.54% 1.80% 1.18% 1.31% 1.15% = Asset Utilization 3.21% 3.46% 3.85% 3.18% 3.41% 3.29% * Net operating margin 39.82% 36.77% 34.14% 28.44% 26.48% 29.55%

• .w. cost to income

47.28% 44.71% 45.96% 56.07% 55.08% 53.33%

• .w. provisions

3.63% 9.20% 10.78% 8.38% 10.52% 9.53%

• .w. tax cost

9.27% 9.32% 9.12% 7.11% 7.92% 7.58% =ROAA 1.28% 1.27% 1.32% 0.91% 0.90% 0.97% * Leverage 11.96 12.28 11.54 12.64 13.55 12.94 =ROAE 15.27% 15.61% 15.18% 11.44% 12.23% 12.58% ROACE 16.02% 16.73% 16.51% 12.59% 13.63% 13.84%

1 Reflecting the initial stages of the launch of the fully-owned subsidiary in Turkey

EARNINGS PER COMMON SHARE GROWTH In US$

Consolidated Financial Standing: Earnings Growth

NET EARNINGS GROWTH In US$ Million

YoY change 19% 21% 22% 4% 5% -21% 15% 9%

423 424 490 550 598 673 815 895 239 313 394 443 503 398 508 482

200 400 600 800 1,000 1,200 1,400 1,600

2008 2009 2010 2011 2012 2013 2014 9M-15 A

Interest income Non-interest income

35.0% 38.4% 37.2% 45.7% 44.7% 44.6% 42.5% 36.1%

10.0% 20.0% 30.0% 40.0% 50.0% Non-interest income / Total income

737 884 993 662 1,071 1,101 1,323

EVOLUTION OF REVENUES

In US$ Million

1

0.65 0.80 0.96 1.00 1.01 0.80 0.86 0.92

2008 2009 2010 2011 2012 2013 2014 9M-15 A

Basic YoY change 23% 23% 20% 4% 1% -21% 8% 7%

1,376

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USD, 46.4% TRY, 21.1% EUR, 12.3% EGP, 8.3% LBP, 7.9% JOD, 2.3% OTHER, 1.4% SYP, 0.2% Corporate & commercial clients, 62.4% SMEs & small business

• wners,

13.2% Private & personal clients, 6.4% Retail & consumer clients, 18.1% Short-term facilities, (<1 year), 30.4% Medium-term facilities, (1-3 years), 19.4% Long-term facilities, (>3 years), 50.2%

LOANS BREAKDOWN BY CUSTOMER’S TYPE LOANS BREAKDOWN BY MATURITY LOANS BREAKDOWN BY COLLATERAL LOANS BREAKDOWN BY BOOKING ENTITY LOANS BREAKDOWN BY CURRENCY LOANS BREAKDOWN BY ECONOMIC SECTOR

Consolidated Financial Standing: Loan Portfolio Breakdown (40% of total assets)

Manufacturing, 16.2% Transportation & communication 5.2% Consumer loans, 18.1% Contractors, 5.9% Trade, 11.3% Real estate services & developers, 16.3% Financial intermediaries, 10.7% Other loans, 16.4% Cash and bank guarantee, 13.7% Real estate mortgage, 23.8% Securities, 4.0% Personal guarantee, 32.3% Unsecured 26.1%

LBP= Lebanese Pound JOD= Jordanian Dinar SYP= Syrian Pound TRY= Turkish Lira EUR= Euro EGP= Egyptian Pound USD= US Dollar

Loans booked in Lebanon for non-residents, $657mn 3.9% Cash collaterals & bank guarantees against Lebanese risk, $877mn 5.2% Net Lebanese risk, $4,480mn 26.3% Loans booked in foreign subsidiaries, $11,001mn 64.7%

1

1Loans granted to private banking customers and customers represented by

non-bank holding companies

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19 In US$ Million GAL APB BAF BAJO BASY BAEGY ODEA OTHER TOTAL

September 2015 Gross DLs 249.0 12.2 16.0 69.5 17.6 52.2 116.4 35.5 568.4 Specific provisions1 199.2 11.9 10.4 53.5 13.2 33.6 49.4 34.0 405.2

• .w. Corporate

163.5 11.9 10.4 30.6 9.8 32.1 31.1 34.0 323.4

• .w. Retail

35.7 23.0 3.3 1.5 18.3 81.8 Collective provisions 60.5 0.6 2.0 19.3 17.0 12.5 25.0 4.2 141.0

• .w. Corporate

44.1 0.6 2.0 12.7 16.4 11.3 17.4 4.1 108.6

• .w. Retail

16.4 6.6 0.6 1.3 7.6 0.0 32.4 Total provisions 259.6 12.5 12.4 72.8 30.1 46.1 74.4 38.2 546.2

• .w. Corporate

207.6 12.5 12.4 43.3 26.2 43.3 48.5 38.2 431.9

• .w. Retail

52.1 29.5 4.0 2.8 25.9 0.0 114.2

1 As compared to an average of 3.9% in the MENA region, 7.2% in emerging markets and 6.6% in the world.

Consolidated Financial Standing: Asset Quality

In US$ Million Dec-14 Sep-15 Change Gross DLs 539.8 568.4 28.6

• .w. Corporate

439.6 458.9 19.2

• .w. Retail

100.2 109.6 9.4 Gross SLs 5.2 42.0 36.7 Net loans 17,171 17,015

• 156
• .w. Corporate

14,326 13,979

• 348
• .w. Retail

2,845 3,036 191 Specific provisions 1 386.7 405.2 18.4

• .w. Corporate

313.0 323.4 10.4

• .w. Retail

73.8 81.8 8.0 Collective provisions 138.9 141.0 2.0

• .w. Corporate

112.9 108.6

• 4.3
• .w. Retail

26.1 32.4 6.3

1 Including interest in suspense. 1 Including interest in suspense.

Dec-14 Sep-15 Change Gross SLs / gross loans 0.03% 0.24% 0.21% Gross DLs / gross loans 1 3.05% 3.24% 0.19%

• .w. Corporate

2.98% 3.18% 0.20%

• .w. Retail

3.40% 3.48% 0.08% Net DLs / gross loans 0.86% 0.93% 0.06%

• .w. Corporate

0.86% 0.94% 0.08%

• .w. Retail

0.90% 0.88%

• 0.01%

Coverage (specific) 71.64% 71.28%

• 0.37%
• .w. Corporate

71.18% 70.47%

• 0.71%
• .w. Retail

73.67% 74.65% 0.98% Collective prov / net loans 0.81% 0.83% 0.02%

• .w. Corporate

0.79% 0.78%

• 0.01%
• .w. Retail

0.92% 1.07% 0.15%

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www.bankaudigroup.com BREAKDOWN OF PLACEMENTS WITH BANKS1

By Rating By Region

LIQUIDITY PORTFOLIO SECURITIES

Consolidated Financial Standing: Liquidity and Portfolio Securities (56% of total assets)

US$ Million LBP US$ EUR SYP EGP TRY JOD Other TOTAL Central Banks 661 6,872 630 36 329 651 188 189 9,555

• .w. Reserves requirements

237 3,680 7 5 267 630 180 2 5,008

• .w. Cash deposits

424 3,192 623 31 62 21 8 187 4,547 Placement with banks 50 1,875 419 6 5 917 7 196 3,476

• .w. Deposits with banks

25 833 391 6 5 2 7 196 1,466

• .w. Reverse repurchase

agreements 24 1,042 28 916 2,009 Total liquidity 711 8,747 1,049 42 335 1,568 195 384 13,031

BREAKDOWN OF PORTFOLIO SECURITIES BY CURRENCY & TYPE

Baa1 to Baa3, 8.8% Ba1 to B3, 2.4% Not Rated, 44.7% Aaa to Aa3, 9.3% Below B3, 1.7% A1 to A3, 33.1% G10 Countries, 46.4% MENA, 50.9% Other Europe, 1.9% Other, 0.8%

US$ Million LL US$ TRY EGP Other TOTAL Central Banks certificates of deposits 2,513 1,078 3,591 Treasury Bills & Eurobonds 1,469 202 179 2,002 1,128 4,979 Risk ceded Lebanese Eurobonds 1,540 1,540 Equity instruments 41 66 3 18 128 Fixed income instruments 139 332 472 Total portfolio securities 4,023 3,025 179 2,005 1,478 10,710

CB CDs, 33.5% TBs in LL, 13.7% Eurobonds in US$, 1.9% TBs in TRY, 1.7% TBs in EGP, 18.7% Bonds in other FCY, 10.5% Risk ceded leb eurobonds, 14.4% Equity instruments, 1.2% Fixed income intruments, 4.4%

1 Including reverse repurchase agreements

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US$ Million Dec-14 Sep-15 E 2015 Regulatory Requirements Risk-weighted assets 24,366 24,513

• .w. Credit risk

22,137 22,280

• .w. Market risk

451 405

• .w. Operational risk

1,778 1,828 Regulatory capital (net of deductions) Core common tier one capital1 2,140 2,142 Tier one capital 2,643 2,520 Tier two capital 532 673 Total capital 3,176 3,193 Excluding Revaluation on Real Estate Core common tier one ratio 8.8% 8.7% 8.0% Tier one ratio 10.8% 10.3% 10.0% Tier two ratio 2.2% 2.7% 2.0% Total ratio 13.0% 13.0% 12.0% Including Revaluation on Real Estate2 Core common tier one ratio 8.8% 8.7% 8.0% Tier one ratio 10.8% 10.3% 10.0% Tier two ratio 2.6% 3.2% 2.0% Total ratio 13.5% 13.5% 12.0%

10.3%

Dec-14 Sep-15 E

RWAs CTier I RTier I Tier II 13.0% -0.1% 0.0% - 0.5 % 0.6% 13.0%

Core common Tier I Residual Tier I Tier II

8.7% 10.8% 8.8%

BASEL III CAR YTD Change

1 Including profits after indicative dividend distribution 2 In accordance with BDL Intermediary circular No. 44 and awaiting regulatory approval expected shortly.

Consolidated Financial Standing: Capitalization

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MEDIUM TERM EXPANSION PLANS UNDER CONSIDERATION:

 United Kingdom,  Sub-Saharan Africa,  Latin America

US$ 1.1 billion of turnover in Lebanon, France and Switzerland

Main Strategic Orientations: Position the Group as a Leading MENAT Bank

 Consolidating and strengthening its leadership in Lebanon  Achieving its market positioning in Turkey  Reaching its newly set targets in Egypt  Expanding private banking & wealth management activities  Enhance the Group legal and organization structure

CURRENT STRATEGY SUPPORTED BY ACTUAL PERFORMANCE

US$ 2.5 billion of turnover in Lebanon, France and Switzerland

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www.bankaudigroup.com COMMON DIVIDEND PER SHARE COMMON BOOK PER SHARE COMMON EARNINGS PER SHARE PAYOUT RATIO

$0.23 $0.35 $0.40 $0.40 $0.40 $0.40 $0.40 2008 2009 2010 2011 2012 2013 2014 Audi GDR’s Program GDR Ticker AUSR CUSIP 60572112 ISIN US0605721127 Ratio 1 To 1 Depositary Deutsche Bank Americas Effective Date 24/10/97 Underlying ISIN LB0000010415 SEDOL 6116407 LB Audi Ordinary’s program Ordinary Ticker Audi.BY CUSTODIAN Midclear ISIN LB0000010415

• Nom. Value

1,650 LBP Effective Date 20/10/06 Underlying ISIN LB0000010415 SEDOL 6113407 LB Country Lebanon Industry Banks $4.85 $5.71 $5.90 $5.85 $6.30 $6.25 $6.95 $6.87 2008 2009 2010 2011 2012 2013 2014 Sep-15 $0.65 $0.80 $0.96 $1.00 $1.01 $0.80 $0.86 $0.92 2008 2009 2010 2011 2012 2013 2014 Sep-15

Share Information: Investment Considerations

USEFUL SHARE INFORMATION

40.1% 45.0% 43.5% 43.0% 42.4% 54.4% 54.3% 35.1% 43.1% 41.0% 40.2% 38.7% 50.2% 49.9% 2008 2009 2010 2011 2012 2013 2014

Total payout ratio (incl. preferred share dividends) Total payout ratio on common shares

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1On the basis of a Bank Audi GDR price of US$ 5.94 on the Beirut Stock

Exchange as at 09/10/2015. Sources: Bloomberg, Zawya Investor, Citigroup, IMF, Beirut Stock Exchange, Bank Audi’s Group Research Department

COMPARATIVE P/E RATIOS FOR BANKS1

Audi GDR 6.5x MENA 11.1x KSA 10.6x Qatar 12.6x Audi Listed 6.5x Jordan 12.7x UAE 8.9x Bahrain 9.2x Lebanon 7.2x Egypt 10.1x Kuwait 15.7x Oman 9.0x

STOCK MARKET RATIOS

PEG RATIO AS AT OCTOBER 9th, 2015 PRICE TO ASSETS AS AT OCTOBER 9th, 2015 PRICE TO EARNINGS AS AT OCTOBER 9th, 2015 PRICE TO BOOK AS AT OCTOBER 9th, 2015

1 Prices as at October 9, 2015

Sources: S&P, Bloomberg, Beirut Stock Exchange, Bank Audi’s Group Research Department AUDI1 0.9 MENA AVERAGE 1.6 EMERGING MARKETS AVERAGE 2.7 GLOBAL AVERAGE 1.7 AUDI1 6.5 MENA AVERAGE 11.1 EMERGING MARKETS AVERAGE 12.6 GLOBAL AVERAGE 14.4 AUDI1 5.6 MENA AVERAGE 19.8 EMERGING MARKETS AVERAGE 30.1 GLOBAL AVERAGE 17.2 AUDI1 1.2 MENA AVG. 1.3 EMERGING MARKETS AVG. 2.3 GLOBAL AVERAGE 3.3

Share Information: Stock Market Performance & Ratios

BANK AUDI v/s MENA PEERS

Ahli Bk Qatar QNB Al Ahly Masraf Al Rayan QIIB Ahli Bk Kuwait QNB Bank Audi ADCB Arab Bank SABB Gulf Bank HBTF CBQ CIB Emirates NBD QIB NBAD Kuwait Fin House Rajhi BBK NBK Samba Arab Banking Corp. 0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 2.8 3.0 3.2 3.4 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 24% 26% 28% 30% P/BV (October 09, 2015) ROACE (HI-15) Sources: Bloomberg, Bank Audi's Group Research Department

MENA MENA

Riyadh Bk

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Appendix

www.bankaudigroup.com

SLIDE 26

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www.bankaudigroup.com Assets Dec-13 Dec-14 Sep-15

Cash and balances with Central Banks 6,097,584 8,787,653 9,555,356 Deposits with banks & financial institutions 2,805,676 2,393,959 1,466,211 Loans to banks & financial institutions & reverse repurchase agreements 436,448 1,942,782 2,009,414 Due from head office, sister, related banks & financial institutions Financial assets given as collateral Derivative financial instruments 90,257 130,764 253,844 Shares and participations held at fair value through profit & loss 42,873 38,587 35,886 Debt Instruments & other similar financial assets at fair value through profit & loss 228,492 304,247 310,868 Of which: Net advances and loans designated at fair value through profit and loss 31,737 7,989 Net loans & advances to customers at amortized cost 14,636,698 17,098,069 16,868,9231 Net loans & advances to related parties at amortized cost 76,172 72,973 145,6892 Debtors by acceptances 174,254 225,858 185,918 Debt instruments classified at Amortized Cost 10,628,879 9,667,491 10,271,2173 Shares and participations designated at fair value through OCI 180,746 90,020 92,364 Investments in associates 18,982 18,416 9,123 Assets taken in settlement of debts 9,509 12,279 13,252 Property & equipment 381,981 629,215 621,219 Intangible fixed assets 54,567 61,461 65,574 Non current assets held for sale 3,306 Other assets 184,797 355,908 317,374 Goodwill 140,062 130,994 136,090 Total Assets 36,191,283 41,960,676 42,358,322

Liabilities Dec-13 Dec-14 Sep-15

Due to Central Banks 167,192 290,803 335,890 Deposits with banks & financial institutions & repurchase agreement 1,191,437 1,184,606 1,533,021 Due from head office, sister, related banks & financial institutions Financial assets taken as a guarantee Derivative financial instruments 89,198 77,150 132,082 Financial liabilities at fair value through profit &loss Of which: deposits at fair value through profit and loss Customers deposits at amortized cost 30,592,515 35,431,648 35,390,891 Deposits from related parties at amortized cost 502,547 389,135 438,594 Debt issued & other borrowed funds 59,388 51,106 Engagements by acceptances 174,254 225,857 185,918 Other liabilities 333,515 344,929 360,834 Provisions for risks & charges 88,147 102,130 107,769 Subordinated loans & similar debts 356,286 507,414 647,961 Non current liabilities held for sale Total Liabilities 33,495,091 38,613,060 39,184,066 Shareholders' Equity - Group Share 2,654,426 3,305,652 3,131,354 Capital and issue premium - Common 738,661 1,023,660 1,025,251 Capital and issue premium - Preferred 500,000 500,000 375,000 Share purchase warrant 11,406 11,407 Cash contribution to capital 48,150 48,150 48,150 Reserves 769,847 969,212 904,659 Treasury shares

• 75,839
• 3,270
• 5,414

Retained earnings 292,802 397,604 461,222 Reserve on revaluation of financial assets at fair value through OCI 79,232 18,260 18,933 Results of the period 301,573 340,630 292,146 Non controlling Interest 41,766 41,964 42,902 Total Shareholders' Equity 2,696,192 3,347,616 3,174,256 Total Liabilities & Shareholders' Equity 36,191,283 41,960,676 42,358,322

1 After deduction of provisions amounting to US$ 458 million from loans and advances to customers as per IAS 39, of

which US$ 141 million representing provisions on collective assessment;

2 Loans granted to related parties against cash collateral amounted to US$ 101 million; 3 Includes an amount of US$ 1,539 million whose risk has been ceded to customers.

(US$ thousands) (US$ thousands)

Financial Statements: Consolidated Statement of Financial Position

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www.bankaudigroup.com 2013 9M-14 2014 9M-15

Interest & similar income1 1,825,012 1,669,792 2,282,513 1,887,853 Interest & similar expenses2

• 1,151,746
• 1,077,338
• 1,467,310
• 1,218,782

Net Interest Income 673,265 592,455 815,202 669,072 Non interest income3 398,050 363,544 507,854 360,157 Total Operating Income 1,071,315 955,999 1,323,057 1,029,228 Net provisions for credit losses

• 90,280
• 71,028
• 139,600
• 98,212

Provision on impairment of financial instruments 488 263 464 122 Net Operating income 981,523 885,234 1,183,921 931,138 Personnel expenses

• 337,920
• 308,711
• 419,616
• 307,952

Other operating expenses

• 216,908
• 181,938
• 248,616
• 190,514

Depreciation of property & equipment

• 34,974
• 31,786
• 42,901
• 36,539

Amortization of intangible assets

• 10,675
• 11,233
• 15,656
• 13,894

Impairment of goodwill

• 2,000

Total Operating Expenses

• 600,476
• 533,667
• 728,790
• 548,900

Profit Before Tax 381,047 351,566 455,131 382,238 Income tax

• 76,093
• 71,711
• 104,826
• 78,059

Profit After Tax from Operating Activities 304,954 279,855 350,305 304,179 Net results from discontinued operations

• 398

26 26 = Profit After Tax and Discontinued Operations 304,556 279,882 350,331 304,179 Minority Interest 2,983 8,228 9,701 12,033 Net Profit - Group share 301,573 271,653 340,630 292,146 (US$ thousands)

Financial Statements: Consolidated Profit and Loss Statement

1 Including interest income on forward and swap contracts and financial assets at fair value through profit and loss 2 Including interest expense on forward and swap contracts and financial assets at fair value through profit and loss 3 Excluding net interest income on forward and swap contracts and financial assets at fair value through profit and loss.

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ODEA BANK AS In TL Million Dec-121 Sep-15 Dec-13 Dec-14 Sep-15 /Dec-14 Balance sheet data Assets 3,636 16,115 25,614 32,820 7,206 Deposits 2,517 12,372 21,084 25,930 4,846 Loans 1,732 11,318 17,953 21,808 3,855 Equity 532 1,410 2,147 2,420 273 Cumulative LCs 4 457 1,018 1,495 981 Outstanding LGs 86 754 1,006 1,741 735 Earnings data 2012 2013 2014 9M-15 Net interest income 31.4 160.0 463.2 510.7 + Non interest income 30.4 28.2 123.7 125.0 = Total income 61.8 188.3 586.9 635.7

• General operating expenses

63.1 259.0 401.4 377.5 = Operating profits

• 1.2
• 70.7

185.6 258.2

• Loan loss provision charge

0.0 35.4 137.5 179.0

• Income tax
• 0.2
• 21.2

10.3 15.8 = Net profits

• 1.1
• 85.0

37.7 63.4 Branches 6 37 48 54 6 Staff 399 1,105 1,388 1,506 118 Gross DLs / gross loans 0.4% 1.5% 1.6% 0.1% LLRs on DLs / DLs (excluding real guarantees) 21.0% 40.7% 42.4% 1.7% Gross DLs 46.2 264.2 352.9 88.7 LLRs on DLs 9.7 107.5 149.7 42.2 Collective provisions 25.7 59.8 75.8 16.0 Net DLs (predominantly covered by real guarantees & collective provisions) 36.5 156.6 203.2 46.5 Capital Adequacy Ratio Dec-13 Dec-14 Sep-15 Regulatory Requirement Tier one 9.9% 10.9% 9.3% 6.00% Tier two 5.6% 2.8% 2.9% 6.00% Total ratio 15.6% 13.7% 12.2% 12.00%

1 2 months of activity after the official launch on 1 November 2012

Evolution of Revenues and Net Earnings of Odea Bank (As per IFRS)

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Evolution of Revenues and Net Earnings of Bank Audi Egypt (As per IFRS)

Bank Audi Egypt

In EGP Million Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Sep-15 Sep-15 /Dec-14 Balance sheet data Assets 15,770 17,968 21,194 22,685 31,089 38,832 7,743 Deposits 13,816 15,808 16,353 19,954 27,403 33,956 6,554 Loans 7,124 7,933 9,455 10,846 12,692 16,036 3,344 Equity 1,382 1,385 1,757 2,082 2,696 2,772 76 Cumulative LCs 2,206 1,333 1,244 1,015 1,946 926

• 707

Outstanding LGs 1,538 1,482 1,420 1,443 1,662 1,849 187 Earnings data 2010 2011 2012 2013 2014 9M-15 Net interest income 339.8 429.5 651.5 714.2 819.2 767.5 + Non interest income 145.0 143.0 321.8 279.7 325.0 417.6 = Total income 484.8 572.6 973.3 993.9 1,144.2 1,185.1

• General operating expenses

275.9 402.8 331.1 409.3 473.4 442.1 = operating profits 208.9 169.7 642.2 584.6 670.8 743.0

• Loan loss provision charge

9.0 88.2 100.8 69.0 44.9 81.2

• Income tax

50.1 78.5 186.5 179.6 218.2 236.9 = Net profits 149.8 3.1 354.9 335.9 407.7 424.9 Branches 31 32 32 33 34 34 Staff 827 857 895 951 1,077 1,257 180 Gross DLs / gross loans 2.3% 3.3% 2.2% 2.5% 2.6% 2.5%

• 0.1%

LLRs on DLs / DLs (excluding real guarantees) 73.9% 60.1% 83.8% 70.1% 67.3% 64.3%

• 3.0%

Gross DLs 170.1 263.1 209.7 282.2 335.8 408.8 73.0 LLRs on DLs 125.7 158.2 175.6 197.8 226.0 262.8 36.8 Collective provisions 59.2 149.0 61.9 98.4 95.3 98.0 2.6 Net DLs (predominantly covered by real guarantees & collective provisions) 44.4 104.9 34.0 84.3 109.8 146.0 36.1 Capital Adequacy Ratio Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Sep-15 Regulatory Requirement Tier one 17.1% 14.7% 15.2% 16.3% 15.3% 13.6% Tier two 0.8% 0.6% Total ratio 17.1% 14.7% 15.2% 16.3% 16.1% 14.2% 10.0%

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