1. Shekhar Krishnamurthy Emirates NBD Remittance Business

2. Remittances continues to rise steadily across the world regardless of cycles and led by increasing migration (US$ billion)

3. GCC remittance corrdiors are top recipients of worldwide migrant remittances (€ billion, 2012e) Source: The migrants market, EFMA 2014

4. Immigrants have almost doubled from 2010 to 2013. Saudi Arabia and United Arab Emirates concentrates ~80% of them Source: Remittance Business in GCC, Oliver Wyman 2016

5. Immigrants mostly come from India, Bangladesh and Pakistan Source: Remittance Business in GCC, Oliver Wyman 2016

6. Players in the market believe volumes for remittances business will be impacted by the economic turbulences in the region, but not immediately Source: Remittance Business in GCC, Oliver Wyman 2016

7. Cost of remittances continue to remain high especially for the smaller tickets, much higher than the targeted 5%

8. Players in the market believe prices for remittances business will be constant – fintech and electronic channel’s trend may push prices down Source: Remittance Business in GCC, Oliver Wyman 2016

9. Remittances are typically carried out once a month across nationalities  Overall, about three in four customers remit money at least once a month.  Remittance frequency is relatively higher amongst Pakistanis, Bangladeshis, Sri Lankans and Filipinos. Interestingly, one in five Westerners also claim remitting money two to three times a month or more often  More than one third Arab Expats send money less often than once a month. Frequency of remitting Arab ExpatIndianPakistaniBangladeshiSri LankanFilipinoWesterner Base 99199483224**5148 Two to three times a month or more 2010 9171219 Once a month4263737871 58 Once in two/ three months201912681620 Two to three times a year171046422 Source: Internal research, Emirates NBD

10. 50% remit AED 500-3000 while 25% remit AED 3000-10000 per transaction All figures in %s 50% 25%  About 50% of those surveyed claim they remit between AED 500 and AED 3000 per transaction.  And another 25% between a larger range of AED 3001 to AED 10,000 16% DECLINED TO PROVIDE AMOUNT REMITTED PER TRANSACTION Source: Internal research, Emirates NBD

11. Preferences for remittances between banks and exchange houses vary by corridor All figures in AED Arab ExpatIndianPakistani Sri Lankan/ Bangladeshi FilipinoWesterner Base: Those who specified Frequency of transaction and average remittance per transaction thro’ bank only 17**345**29**-26** Through Bank in AED 5769192725002908-4576 Base: Those who specified Frequency of transaction and average remittance per transaction thro’ exchange house only 561133621**4214** Through Exchange House in AED 262829031912172618211720  Indians remit higher amounts through exchange houses (to benefit from better exchange rates)  Results indicative (given the low base sizes) that Expat Arabs and Westerners remit higher amounts through banks.. Note: results are directional in most cases as outliers impact the averages significantly Source: Internal research, Emirates NBD

12. All figures in %s  Nearly 50% claim that remittances are used to meet the needs of immediate family members. And another one in five also remit for personal investment purposes.  Parents are the main beneficiaries of the remittances for a slight majority and as also seen from the reasons for remitting, money is also directed to one’s personal account etc. Retail customers remit mainly for family support…. Source: Internal research, Emirates NBD Mass Retail Customers

13.  Arab Expats, Indians, Pakistanis and Bangladeshis remit money mostly for their family members financial needs and hence parents and spouse are the main beneficiaries.  On the other hand the Sri Lankans and Westerners are more likely to remit money for financial/ property investment purposes and therefore more likely to be main beneficiaries as well. Parents5972574884546727 Self2630258963650 Spouse123162934182 Children1071117-4206 TotalArab ExpatIndianPakistaniBangladeshSri LankaFilipinoWesternerBase:50199199483224**5148 Immediate family member’s use 49 623973698 27 Personal financial/ property investments 26 2326412831048 Other family member’s use 17 19 8224254 Deposit Schemes 5 676---4 Business investments 4 54464-10 Children’s education 4 53431742 …with parents and spouse being main beneficiaries Source: Internal research, Emirates NBD

14. All figures in %s  More than 50% claim that remittances are used to meet the needs of family members. And another one fourth also remit for personal investment purposes.  However the money is remitted mostly to one’s personal account (47%) or directed to family members (parents, children, spouse). …while affluent customers remit also for investments back home Affluent Customers Source: Internal research, Emirates NBD

15.  Personal finance/ property investment needs mainly drive remittances for Asian Expats, Westerners and Arab Expats to some extent.  This is followed by the needs of the family members. hence the money is directed to one’s own account or to the family members.  Westerners also fund their retirement plans through remittances. Self (My own account/ joint account) 47 36474952 Parents 36 40384327 Children 17 8202614 Spouse 15 -112918 Other relatives 11 241139 Business partner 6 129-5 TotalEmiratiArab ExpatsAsian ExpatsWesterner Base: 14925**453544 Immediate family member’s use 32 363130 Personal financial investments/ property investment 41 20385743 Other family member’s use 19 32182011 Business investments 13 2011179 Children’s education 13 822147 Retirement purpose 7 --918 …remitting to own accounts back home Source: Internal research, Emirates NBD Affluent Customers

16.  Filipinos followed by Sri Lankans most likely to remit money on special occasions. This practice is seen amongst fewer Indians and Westerners.  The main occasions for remitting money include festivals and birthdays of loved ones BASE: Those who remit for special occasions: 201 FESTIVALS60%BIRTHDAYS58% NEW YEAR 20%WEDDINGS17% Base 99 199 48 32 24 ** 51 49 % CLAIMING THEY REMIT MONEY ON SPECIAL OCCASIONS Remittances also peak on special occasions especially for some corridors Source: Internal research, Emirates NBD

17.  Although remittance is from exchange house, the receiving point is ‘a bank’ for more than 60%. This spells an opportunity for us given a bank to bank transfer could ideally be more convenient and safe.  Other options such as transfer to credit card, prepaid card or mobile wallet very low in adoption. Increasingly, funds are sent to bank accounts with cash reducing and card and wallets gaining usage Source: Internal research, Emirates NBD All figures in %s

18. Remittances Through Exchange Houses 87% remit to single country 13% to more than one country All figures in %s Countries where remittances directed directed DRIVEN PRIMARILY BY RESPONDENT’S COUNTRY OF ORIGIN 13% CITE OTHER COUNTRIES Source: Internal research, Emirates NBD

19. All figures in %s Countries where remittances directed directed DRIVEN PRIMARILY BY RESPONDENT’S COUNTRY OF ORIGIN 17% CITE OTHER COUNTRIES Remittances Through Banks 85% remit to single country 15% to more than one country Source: Internal research, Emirates NBD

20. CONVENIENCE SERVICE & SAFETY FINANCIAL BENEFITS Exchange houses are preferred for a variety of factors All figures in %s Source: Internal research, Emirates NBD Exchange 1 Exchange 2

21. All figures in %s  Small multiple draws appeal mostly Sri Lankans and Pakistanis.  Assured fee waiver preferred by at least two in five Arab Expats.  Westerners on the other hand find appeal in large single prize draws. Arab ExpatIndianPakistaniBangladeshiSri LankanFilipinoWesterner 99199483224**5148 20293831543325 44192519-2510 15221925291833 20311925172431 Appeal of Promotions Source: Internal research, Emirates NBD

22. All figures in %s  Shopping rewards/vouchers appeal to at least a third respondents – most preferred by Sri Lankans followed by Pakistanis and Filipinos.  Future discounts appeal to 29% while Air Miles points liked by 23%. Arab ExpatIndianPakistaniBangladeshiSri LankanFilipinoWesterner 99199483224**5148 28294025754129 263319 82225 3322196-2023 513250131617 Appeal of Loyalty Programs Source: Internal research, Emirates NBD

23. Emirates NBD DirectRemit

24. Transfer funds in 60 seconds free of charge at competitive exchange rates  DirectRemit is Emirates NBD’s flagship retail remittance service offering instant delivery of funds to beneficiary accounts free of charge and at market leading rates.  The service is currently offered to the top 5 corridors – India, Pakistan, Philippines, Srilanka and Egypt.  DirectRemit 2 Mobile enables sending funds to a mobile number  All DirectRemit transfers are subjected to strict compliance controls and regulatory reviews as part of transaction screening to ensure adherence with global payment screening standards.  The service has seen over 6X growth since launch in 2014 and is today the leading bank remittance product from UAE.  As of December 2015, DirectRemit represented ~75% of all individual transfers done by Emirates NBD customers and has started disrupting legacy money transfer services via exchange houses in the UAE, with an estimated 4% market share.

25. 24 Marketing / Launch Campaigns Source: Internal research, Emirates NBD

26. 25 Awards & Recognition DirectRemit was found to be the best way to transfer money by The National, a leading English daily in UAE Source: Internal research, Emirates NBD

27. Questions & Discussions