FOR THE NINE MONTHS AND THIRD QUARTER ENDED 30 SEPTEMBER 2026

Mashreq’s Nine-Month Pre-Tax Profit Rises 18% to a Record AED 7.3 Billion

Assets surpass AED 400 billion as customer lending grows 33% year-on-year and the non-performing loan ratio improves to 0.7%

Dubai, UAE: Mashreq Bank PSC (MASQ) today reported record nine-month profit before tax of AED 7.3 billion for the period ended 30 September 2026, up 18% year-on-year. Operating income increased 11% to AED 10.4 billion, with growth in operating profit and an improvement in impairments supporting the increase in earnings. Customer lending expanded 13% during the third quarter, while the non-performing loan ratio improved to 0.7% and the Capital Adequacy Ratio stood at 16.7%.

9M 2026 Key Financials

H.E. Abdul Aziz Al Ghurair Chairman of Mashreq "The global economy is undergoing a period of significant transformation, as evolving trade patterns, investment flows and geopolitical dynamics reshape the international economic landscape. For the region, this presents an opportunity to deepen economic diversification, strengthen global partnerships and build new avenues for sustainable growth. The UAE has continued to demonstrate the strength of its economic model, combining policy stability, international connectivity and sustained investment to reinforce its position as a leading global business and financial centre. The UAE banking sector has been instrumental in supporting this momentum, facilitating economic activity while maintaining strong financial fundamentals. Against this backdrop, Mashreq delivered operating income of AED 10.4 billion in the first nine months of 2026, reflecting the strength of its diversified franchise and the confidence of its clients. As a Domestic Systemically Important Bank, our responsibility extends beyond financial performance. The Board remains committed to ensuring that growth is supported by sound governance, disciplined risk management and responsible capital allocation. These principles will continue to guide Mashreq as we support the UAE's economic ambitions, strengthen international connectivity and create sustainable value for our shareholders and the wider economy." Ahmed Abdelaal Group Chief Executive Officer “Mashreq’s first nine months of 2026 demonstrate our ability to grow the franchise while maintaining strong returns and credit quality. We delivered record nine-month profit before tax of AED 7.3 billion, up 18% year-on-year, and return on equity of 20.4%. Customer lending grew 33% year-on-year, while our non-performing loan ratio improved to 0.7%. Our priority is to translate this growth into deeper client relationships and sustainable shareholder value. Supporting UAE companies and businesses contributing to the UAE economy remains central to our lending and trade finance activities, alongside serving the needs of our retail and SME clients. Across our international network, we are deepening relationships and connecting clients to financing, trade and investment opportunities. Selective capital allocation and a diversified funding base will continue to guide how we grow. As we scale, our investment in AI and digital capabilities is directed at faster service, simpler customer journeys and greater productivity. Newton, our award-winning GenAI platform for financial crime investigations, has already lifted investigator productivity by around 40% while improving the quality and speed of our investigations. We are focused on embedding these capabilities across the business, supported by strong controls and clear accountability for the value they deliver. We enter the final quarter focused on profitable growth, disciplined execution and strengthening the capabilities that will sustain Mashreq’s performance over the long term. I thank our colleagues for their commitment and our clients for their continued trust.”

Performance Review: 9M 2026

“Record nine-month profitability, 33% year-on-year growth in customer loans and improving asset quality, supported by disciplined capital management.” Operating income grew 11% year-on-year to AED 10.4 billion in 9M 2026, supported by net interest income on a substantially expanded loan book and 18% growth in non-interest income. Profit before tax rose 18% to a record AED 7.3 billion, with the third quarter contributing AED 2.5 billion, 19% more than in Q3 2025. Total assets grew by AED 100 billion year-on-year to AED 405.6 billion, with customer lending growth of 33% and deposit growth of 27%. Customer deposits increased by AED 32.2 billion year-to-date, exceeding the AED 26.3 billion increase in customer loans. The Bank also raised term funding in the international capital markets during the third quarter. Asset quality strengthened further, with a non-performing loan ratio of 0.7% and coverage of 311%, while the Capital Adequacy Ratio stood at 16.7%. The nine-month cost-to-income ratio was 31.4%, with continued investment in the Bank's digital and AI capabilities.