Emirates NBD Bank : Integrated report for the year 2021

Creating Opportunities to Prosper

for our Customers, People, and Communities

ESG Report 2021

2	TABLE OF CONTENT

Table of Contents

3	TABLE OF CONTENT

1. Message from the Group CEO	5
2. Our Approach	6
2.1. About this Report	6
2.2. Scope of this Report	7
2.3. Materiality Analysis	8
2.3.1. Materiality Matrix	9
2.3.2. Stakeholder Engagement	10
2.4. ESG Reporting Framework	11

3. Key Highlights	12
3.1. Dubai Chamber CSR Label	15
4. Creating opportunities to	17
prosper for our customers,
people, and communities
5. Expo 2020 Dubai	18
Official Banking Partner
6. Overview of Emirates NBD	21
Group entities
6.1. Emirates Islamic	21
6.2. International offices	22
6.2.1. Egypt	24
6.2.2. Kingdom of Saudi Arabia	24
6.2.3. Singapore	25
6.2.4. United Kingdom	26
6.2.5. India	26
6.2.6. China	26
6.3. DenizBank	27
6.3.1. Focus on Women	28
6.3.2. SME	30
6.3.3. Renewable Energy Financing	31
6.3.4. Agricultural Segment	32
6.3.5. Disability Friendly Branches	38
6.3.6. Syndicated ESG/Sustainability Loans 38
6.3.7. Digitalisation	39

7. Responsible Banking and	41
Investment
7.1. Products and Services	41
7.1.1. Products for Small and	42
Medium Enterprises (SMEs)
7.1.2. Liv.	43
7.1.3. Green Products	44
7.1.4. Enhanced Digital Services	45
7.1.5. Emirates Islamic Products	46
and Services
7.2. Responsible Finance and	47
Investment
7.3. Emirates NBD Asset Management	47
7.3.1. United Nations Principles for	47
Responsible Investment (UN PRI)
7.3.2. Masdar Green REIT	49
7.4. Emirates NBD Capital	50
7.4.1. EmCap's Sustainable Solutions	50
Offering
7.4.2. Sustainable Debt Capital Market	52
Transactions
7.4.3. Sustainable Loan Capital Market	53
Transactions
7.4.4. Debt Capital Markets Study	55
7.4.5. Loan Capital Markets Study	55
7.5. Wealth Management	56
7.5.1. First Phase of our Sustainable	56
Investment Framework
7.5.2. Enhancing Products and	57
Creating Awareness
7.6. CBUAE Consumer Protection	57
Regulation
7.7. Customer Experience	60
7.7.1. Customer Communication	61
Pathways
7.7.2. Multiplier Effect Framework	62
7.7.3. Service Accessibility	62
and #TogetherLimitless
7.7.4. Customer Journeys	63
7.7.5. COVID-19 - Customer Support	64
7.7.6. Customer Engagement and Net	65
Promoter Score (NPS)
7.7.7. Customer Experience Month	66
7.7.8. Customer Experience at	68
Emirates Islamic

8. Environment	70
8.1. LEED Certified Premises	70
8.2. Resource Use	71
8.2.1. Energy Consumption and Efficiency	71
8.2.2. Fuel Consumption	72
8.2.3. Water Consumption and Efficiency	72
8.2.4. Waste Management and Recycling	73
8.2.5. Paper Consumption	74
8.3. Emissions	78
8.3.1. Greenhouse Gas (GHG) Emissions	78
8.3.2. ISO 14001	78
8.4. Innovation	79
8.4.1. Charging stations	79
8.4.2. Internal #SayNoToPlastic Initiative	79
9. Social	81
9.1. Employees	81
9.1.1. Benefits	81
9.1.2. Health & Wellbeing	84
9.1.3. Workforce Management	88
9.1.4. Training & Development	89
9.1.5. Diversity & Inclusion	96
9.1.6. Employee Engagement	104
& Satisfaction / Recognition
9.1.7. Our Employees in Numbers	109
9.2. Community	119
9.2.1. Social Engagement Framework	119
9.2.2. Philanthropy	121
9.2.3. Volunteering - Exchangers	122
9.2.4. Financial Wellness - #moneywise	125

10. Governance	129
10.1. Board and Board Committees	129
10.2. Emirates Islamic - Internal Shariah	130
Supervisory Committee
10.3. Responsibility	131
10.3.1. Code of Conduct	131
10.3.2. Cyber Security	131
10.3.3. Group Policies related to Fraud	132
10.3.4. Business Continuity	134
10.3.5. Sustainable Procurement Policy	134
10.4. Sustainability	136
10.4.1. Sustainability Reporting	136
10.4.2. UN SDGs	137
10.4.3. Global Sustainability	139
Commitments
11. GRI Standards Content	140
Index

4

MESSAGE FROM THE GROUP CEO

5

MESSAGE FROM THE GROUP CEO

1. Message from the Group CEO

Emirates NBD is proud to present its sixth Annual ESG Report (formerly Sustainability Report,) reflecting our Environmental, Social, and Governance (ESG) performance and achievements in 2021. Despite the challenges posed by the ongoing COVID-19 pandemic, 2021 was an eventful and rewarding year for the Group as we navigated the changing global economic landscape. We were able to increase our business activities and net profit by 34% to AED 9.3 billion, demonstrating the resilience of the Group's diversified business model.

Throughout the year, we continued to support our customers impacted by COVID-19 with timely financial relief measures to help ease their burdens and avoid credit issues developing in the future. In total, we provided 27,929 customers with deferrals amounting to AED 1.5 billion.

We further pushed boundaries as a leader in digitisation by offering safe and innovative digital banking services that are both inclusive and environmentally responsible. Our passion for innovation and unlocking opportunities is also aligned with being the Official Banking Partner for Expo 2020. Future Banking exhibits are on display at our onsite branch, demonstrating how advances in technology, robotics, and artificial intelligence will impact the future of the global financial services sector. We have confirmed our engagement as a participant in the United Nations (UN) Global Compact, the world's biggest corporate sustainability project, to reaffirm our strong commitment to adopting and integrating ESG best practises across the Group. Emirates NBD Asset Management has also become a signatory to the United Nations Principles of Responsible Investment (UN PRI). Our advances in ESG finance and investments are based on sustainable finance guiding principles. Notably, we are structuring and managing the first sustainable Real Estate Investment Trust (REIT) in the UAE alongside Masdar, amounting to AED 949 million. In addition, we are developing a Wealth Management and Sustainable Investment

Framework taking into account the long-term impact on future generations. Further, Emirates NBD Capital (EmCap) led 24 landmark offerings such as the debut Sustainability Re-linked Notes from Bank of China, the first sustainable Bond from Axis Bank (India), as well as the debut green loan from the Arab Republic of Egypt.

In our international operations, we are making significant contributions to the agriculture sector in Turkey through DenizBank, who has a 43% market share in agricultural banking. Its nationwide presence allows the Bank to access producers throughout Turkey who require banking services for their operations, with a particular focus on women.

These achievements would not have been possible without the contributions and efforts of our diverse workforce as well as our supportive stakeholders. In particular, our employees have proven essential to our growth, not only through their commitment to developing sustainable and innovative banking, but also through their participation in the Group's activities, such as volunteering at the Expo 2020 Dubai and the Emirates Nature-World Wildlife Fund (WWF) Programme.

As we look forward, we recognise both the challenges as well as the opportunities in integrating ESG into our business. With our long history of being an innovator and staying ahead of the curve as the industry changes, I am optimistic that we will be able to harness this strength to address the many challenges that we face as a global community.

Shayne Nelson

Group CEO, Emirates NBD

• OUR APPROACH

2. Our Approach

The standards established by the GRI Reporting Framework guide our approach to sustainability reporting. We focus on our environmental, social, and governance (ESG) practices, policies, and performance aligned to the UAE Vision as well as the UN Sustainable Development Goals (SDG). Moreover, in accordance with the GRI requirements, we have conducted a materiality assessment aimed to identify the ESG topics that our internal and external stakeholders consider most important.

2.1. About this Report

• OUR APPROACH

2.2. Scope of this Report

Year

The report covers our environmental, social, and governance performance for the year 2021. Unless otherwise stated, all data is as of December 31, 2021.

Entities

The entities included are:

•	Emirates NBD Bank
•	Tanfeeth
•	Emirates Islamic
• Emirates NBD Asset Management

GRI

Accordance

This report has been prepared in accordance with the GRI Standards, Core Option.

Alignments

The report aligns with the United Nations Global Compact (UNGC) Principles, the United Nations Sustainable Development Goals (SDGs), and the Dubai Financial Market (DFM) ESG Reporting Guide.

Comparable

Data

The figures accompanying disclosures showcase our performance across 2021, as well as 2020 and 2019 wherever possible, recognizing both achievements and areas of improvement.

•	Emirates NBD Capital
• Emirates NBD International Offices
•	DenizBank A.S.

Countries

The report covers our operations in the United Arab Emirates only, unless otherwise indicated.

Financial Performance Scope

Contact Point

For any enquiries on this report, please contact:

Patrick Clerkin

Head of Investor Relations

Email: [e-mail]

The Bank's previous sustainability reports can be found on our website at https://www.emiratesnbd.com/en/about-us/.

For the Financial Performance and Economic Impact figures, the report includes all of Emirates NBD Group's subsidiaries. For more information about our financial performance, please check our financial statement.

Monetary Values

All monetary values in this report are expressed in United Arab Emirates Dirhams (AED), unless otherwise specified.

Terminology

The use of the name "Emirates NBD" or "the Bank" in this report refers to Emirates NBD, Tanfeeth, and Emirates Islamic in the UAE, unless otherwise stated. The use of "Emirates NBD Group" refers to the entire group globally, with all its subsidiaries.

8 OUR APPROACH

2.3. Materiality Analysis

Periodically, we conduct a Materiality Analysis exercise to keep up to date on our stakeholders' views of various environmental, social, and governance concerns that may have an impact on the our operations. This practice is not only supported by the GRI Standards, but it also inspires internal- external discussions and emphasizes new and diverse perspectives in order to identify and address issues that are important to us now and in the future.

We re-prioritized the topics in our materiality analysis in 2019. We aim to conduct the materiality assessment once every three years.

• OUR APPROACH

2.3.1. Materiality Matrix

Below is our Materiality Matrix, which reflects the importance of each topic to our stakeholders and our business.

Governance, Compliance

& Ethics

Stakeholders

Privacy & Security

Human Rights &

Labour Conditions

Responsible Finance

Product & Service Responsibility

Exceptional Customer Experience

to

Responsible Procurement

Technology & Innovation

Importance

Climate Change

Economic Value Generated & Distributed

Responsible Waste Management

Community & Social Impact

Social & Economic Inclusion & Diversity

Talent Attraction, Engagement & Retention

Volunteerism

Emiratisation

Importance to Business

The topics in the top right corner of the matrix are determined as our most material topics. Throughout the report, we demonstrate how we are taking action on our commitment to being a sustainable financial institution by creating long-term value.