1 Q 2018 Investors Analysts Presentation 2 May

1 Q 2018 Investors & Analysts Presentation 2 May 2018

AUM Assets Under Management NIM Net Interest Margin CAR Capital Adequacy Ratio NPL Non Performing Loan CIR Cost to Income Ratio CRB OPEX Commercial & Retail Banking Operating Expenditure CRR Cash Reserve Ratio FCAM First City Asset Management Ltd FCMB CM FCMB Capital Markets Ltd PAT Profit After Tax PBT Profit Before Tax Qo. Q Quarter-on-Quarter ROA Return on Average Assets FCY Foreign Currency FX Foreign Exchange ROE Return on Average Equity LCY Local Currency SME Small & Medium Enterprises N/A Not Applicable/ Not Available Yo. Y Year-on-Year NII Non Interest Income YTD Year to Date

AGENDA 1 Q 2018 Results Overview Group Performance Review: • Commercial & Retail Banking v Performance Review v Risk Management Review • Asset & Wealth Management • Investment Banking Looking Ahead to HY 18

Performance Overview

1 Q 18 Results Overview Group Performance Highlights Performance Index Return on Average Equity Return on Average Assets Loan/Deposit Ratio Loan/Funding Ratio Cost/Income Ratio Operating Net Interest Margin NPL/Total Loans Coverage Ratio 1 NII/Operating Income Financial Leverage Cost of Risk Capital Adequacy Ratio Capital & Liquidity Ratio Share Price NAV Investment Dividend EPS Opex (N‘B) Others Risk Assets (net) (N‘B) Customer Deposits (N‘B) Note: 1. Inclusive of regulatory risk reserve. 1 Q 17 4 Q 17 3. 5% 0. 5% 95. 5% 94. 2% 70. 8% 72. 5% 70. 3% 57. 2% 6. 8% 9. 6% 4. 3% 4. 9% 110. 2% 120. 6% 32. 8% 39. 4% 6. 5 6. 4 2. 8% 5. 3% 17. 2% 16. 9% 31. 9% 36. 6% 1. 21 1. 48 181. 0 189. 0 n/a 10 k 31. 9 47. 5 16. 3 19. 4 656. 1 649. 8 687. 2 689. 9 1 Q 18 %Δ Qo. Q %Δ Yo. Y 5. 7% 61. 0% 0. 8% 57. 2% 79. 7% -15. 4% -16. 5% 61. 1% -15. 7% -13. 7% 68. 6% 20. 0% -2. 4% 7. 5% -22. 4% 9. 7% 5. 3% 7. 2% 22. 0% 135. 7% 12. 6% 23. 1% 31. 2% -20. 7% -4. 8% 6. 7 4. 3% 2. 4% 2. 8% -46. 4% 0. 2% 17. 1% 1. 2% -0. 7% 46. 6% 27. 2% 46. 1% 2. 38 60. 8% 96. 7% 176. 5 -6. 6% -2. 5% n/a n/a 52. 2 9. 9% 63. 6% 17. 7 -8. 9% 595. 8 -8. 3% -9. 2% 747. 7 8. 4% 8. 8% 5

FCMB’s Operating Companies Contribution to Profitability: 1 Q 18 Results Overview Commercial & Retail Banking was the dominant contributor, but there’ll be growing contribution from Asset & Wealth Management during the course of 2018. N’m PBT PAT Revenue ROAE NAV Commercial & Retail Banking 1 FCMB Ltd 2 2, 200 2, 199 1, 747 40, 131 40, 112 4. 1% 171, 619 171, 529 % Contribution to Group PBT 68% Asset & Wealth Management Legacy Pension Managers 2 FCAM CSL Trustees 508 427 40 41 357 299 29 29 982 835 80 67 32. 8% 40. 8% 14. 6% 22. 1% 4, 134 2, 734 847 552 16% 13% 1% 1% Investment Banking CSL Stockbrokers (ex FCAM) FCMB Capital Markets Ltd 148 201 -53 82 135 -53 485 414 71 9. 9% 26. 4% -18. 1% 3, 318 2, 145 1, 172 5% 6% -2% FCMB Group Plc (Separate) 401 633 n/a 130, 045 12% 3, 256 2, 586 42, 171 5. 7% 176, 532 100% FCMB Group Plc (consolidated) Notes: 1. Includes FCMB Microfinance Bank Ltd. 2. Includes Credit Direct Ltd and FCMB (UK) Ltd. 6

1 Q 18 Results Overview Group Statements of Comprehensive Income PBT at Group Level rose 64% Yo. Y driven by stronger Net Interest Margin, Trading Income and Fees and Commissions. However, PBT fell 29. 5% Qo. Q as a result of decline in FX (revaluation) income FCMB: Statements of Comprehensive Income (Extracts) - (1 Q 17 vs. 4 Q 17 vs. 1 Q 18) N’m 1 Q 17 1 Q 18 42, 171 32, 649 (14, 898) 17, 751 %Δ Qo. Q -17. 5% -9. 5% -3. 6% -13. 9% 38, 462 29, 861 (14, 323) 15, 538 42, 171 32, 649 (14, 898) 17, 751 %Δ Yo. Y 9. 6% 9. 3% 4. 0% 14. 2% 13, 381 4, 485 673 7, 691 532 34, 004 (19, 436) 8, 058 4, 788 1, 754 941 576 25, 810 (17, 700) -39. 8% 6. 8% 160. 6% -87. 8% 8. 2% -24. 1% -8. 9% 7, 580 3, 453 416 813 2, 898 23, 118 (16, 251) 8, 058 4, 788 1, 754 941 576 25, 810 (17, 700) 6. 3% 38. 6% 322. 1% 15. 7% -80. 1% 11. 6% 8. 9% (9, 033) (982) (4, 598) (255) -49. 1% 74. 0% (4, 751) (207) (4, 598) (255) -3. 2% 23. 3% 9 0 n/a 0 0 n/a 58 4, 621 (680) 3, 941 0 3, 256 (670) 2, 586 n/a -29. 5% -1. 4% -34. 4% 75 1, 984 (403) 1, 581 0 3, 256 (670) 2, 586 n/a 64. 1% 66. 3% 63. 6% 4 Q 17 1 Q 18 Revenue Interest Income Interest Expense Net Interest Income 51, 123 36, 080 (15, 457) 20, 623 Non Interest Income - Net Fees & Commissions - Trading Income - FX Income - Others Operating Income Operating Expenses Net impairment loss on loans Other impairment loss Net gains/(losses) from fin. instruments at fair value Share of Post tax result of Associate PBT TAX PAT 7

1 Q 18 Results Overview Group Statements of Financial Position FCMB: Statements of Financial Position (Extracts) – (1 Q 17 vs. 4 Q 17 vs. 1 Q 18) N'm Cash and cash equivalents Restricted reserve deposits Loans and advances Derivative assets held Non Pledged trading assets Investments Assets pledged as collateral Investment in associate Intangible assets Deferred tax assets Other assets Fixed assets Total Assets LIABILITIES: Trading Liabilities Derivative liabilities held Customer deposits Deposits from banks Other liabilities Borrowings On-lending facilities Debt securities issued Shareholders' funds Liabilities and Shareholder Equity Acceptances & Guarantees 1 Q 17 101, 630 148, 449 656, 138 940 5, 979 137, 326 54, 530 922 10, 121 7, 972 21, 179 32, 150 1, 177, 335 4 Q 17 103, 888 109, 639 649, 797 0 23, 936 153, 429 61, 330 0 14, 921 8, 234 27, 604 33, 402 1, 186, 179 1 Q 18 172, 785 118, 710 595, 823 0 32, 600 190, 340 57, 496 0 14, 797 8, 234 34, 796 33, 333 1, 258, 914 % Δ Qo. Q 66. 3% 8. 3% -8. 3% n/a 36. 2% 24. 1% -6. 3% n/a -0. 8% 0. 0% 26. 1% -0. 2% 6. 1% % Δ Yo. Y 70. 0% -20. 0% -9. 2% n/a 445. 2% 38. 6% 5. 4% n/a 46. 2% 3. 3% 64. 3% 3. 7% 6. 9% 0 701 687, 219 6, 205 69, 130 128, 067 43, 388 61, 634 180, 991 1, 177, 335 21, 617 0 689, 861 6, 355 72, 718 109, 435 42, 534 54, 692 188, 968 1, 186, 179 24, 840 0 747, 694 14, 487 82, 689 109, 830 46, 054 56, 788 176, 532 1, 258, 914 14. 9% n/a 8. 4% 127. 9% 13. 7% 0. 4% 8. 3% 3. 8% -6. 6% 6. 1% n/a 8. 8% 133. 5% 19. 6% -14. 2% 6. 1% -7. 9% -2. 5% 6. 9% 134, 646 164, 901 58, 142 -64. 7% -56. 8% 8

Group Performance Review: Commercial & Retail Banking - Mr. Adam Nuru (Managing Director: FCMB Ltd)

CRB Performance Review Commercial & Retail Banking Performance Review: 1 Q 17 vs. 4 Q 17 vs. 1 Q 18 N’billion %Δ Qo. Q %Δ Yo. Y 20. 1% increase in PBT to N 2. 2 bn for 1 Q 18 from the N 1. 8 bn in Q 117; 1 Q 17 4 Q 17 1 Q 18 Revenue 37. 0 Net Interest Income 15. 2 Non Interest 7. 3 Income Net impairment (4. 7) loss on loans Operating Expenses (15. 7) 47. 4 20. 2 38. 7 17. 4 -18. 50% 4. 65% -13. 85% 14. 25% Revenue increased 4. 65% through a 14. 25% increase in net-interest income. 11. 7 6. 3 -45. 86% -13. 05% (8. 8) (4. 6) -47. 70% -3. 22% Net interest income increased by 14. 25% Yo. Y, largely due reduction in Cost of Funds and growth in Retail and SME deposits. This increased net interest margin to 8. 8% from 7. 2%. (18. 5) (16. 7) -9. 85% 6. 05% 3. 6 2. 2 -39. 73% 20. 1% 595. 35 -8. 3% -9. 2% PBT Risk Assets 1. 8 655. 90 649. 38 Non interest income declined 13. 05% Yo. Y to N 6. 3 bn for 1 Q 18 from the N 7. 3 bn in 1 Q 17, due to non-occurrence of one-off income earned in 1 Q 17. Overhead costs increased by 6. 05% Yo. Y from ongoing investments in digital transformation and automation. CAR and liquidity remain strong and above regulatory thresholds at 16. 27% and 46. 6% respectively. Deposits 693. 32 692. 39 749. 36 8. 23% 8. 1% CIR 69. 8% 58. 0% 70. 3% 21. 2% 0. 6% NIM 7. 2% 9. 3% 8. 8% -5. 8% 22. 5% Cost of Funds 6. 3% 6. 7% 6. 4% -4. 1% 1. 5% Loans to Deposits 89. 0% 88. 4% 74. 8% -15. 3% -15. 9% Loans to Funding 70. 1% 71. 5% 60. 8% -15. 0% -13. 3% Liquidity 31. 9% 35. 3% 46. 6% 32. 09% CAR 16. 0% 16. 88% 16. 27% -3. 61% 46. 1% 1. 6% NPL 4. 3% 4. 7% 5. 6% 18. 4% 28. 7% Risk assets declined by 9. 2% Yo. Y and 8. 3% Qo. Q. With comfortable capital and liquidity, growth to resume in 2 H 18 Deposits grew 8. 1% Yo. Y and 8. 2% Qo. Q respectively, driven by low cost deposits. 10

CRB Performance Overview CRBG 2018 Segment & Subsidiary Highlights [CELLRANGE]; [PERCENTAGE[CELLRANGE]; 11% ] [CELLRANGE]; 17% [CELLRANGE]; 2% [CELLRANGE]; [PERCENTAGE ] [CELLRAN GE]; 29% [CELLRANGE]; 9% Personal , 38% [CELLRANGE]; 26% Contribution to Revenue [CELLRANGE]; [PERCENTAGE ] SME 26% contribution to net revenue and also recorded 4. 8% improvement Yo. Y, driven majorly by improvements in non-interest income and reduced impairment charge on legacy loans; In 1 Q 18, 10, 179 new to bank SME customers were acquired adding a balance of N 7. 1 billion to low cost deposits. Corporate Banking contributed 17% to net revenue with decrease of 3. 1% Yo. Y; Grew its low cost deposit volume by 23. 8% and total deposit by 18. 5%. Subsidiaries Performance Personal Banking Improved performance across the subsidiaries within the The segment continues to be the major banking group: contributor to revenue at 38%, as our retail-led v CDL recorded 55% growth Yo. Y in PBT from N 444 m in strategy continues to yield positive results; 1 Q 17 to N 690 m in 1 Q 18; signaling business 66. 7% decline in impairment charge from improvement in the subsidiary. N 388 m recorded in Q 1 2017 to N 129 m in 1 Q 18. v FCMB UK had 41% growth Yo. Y in PBT from N 62 m in 1 Q 17 to N 87 m in 1 Q 18. 11

CRB: Non-Interest Income Analysis: 1 Q 17 vs. 4 Q 17 vs. 1 Q 18 N’m 1 Q 17 4 Q 17 1 Q 18 %Δ Qo. Q %Δ Yo. Y Non Interest Income 7, 297. 67 11, 692. 41 6, 345. 08 -45. 7% -13. 1% Net Fees & Commissions 3, 248. 34 3, 702. 01 3, 575. 71 -3. 4% 10. 1% Trading Income 639. 91 59. 66 1, 747. 12 2828. 7% 173. 0% Dividend Income - - 76. 67 100. 0% 551. 35 7, 483. 70 898. 91 -88. 0% 63. 0% 2, 858. 06 447. 05 46. 67 -89. 6% 98. 4% FX Revaluation Gain Others Net fees and commissions grew Yo. Y by 10. 1%, as we have witnessed increased throughput on our alternate channels and service touch points. However, 3. 4% reduction Qo. Q was recorded. Trading income recorded Yo. Y growth of 173% which was propelled by FX trading income. 63% increased in FX revaluation gain Yo. Y due to adoption of NIFEX exchange rate. FX revaluation gain in 4 Q 17 was substantially higher than gain recorded in 1 Q 18. Other non-interest income Yo. Y declined by 98. 4% due to non-reoccurrence of AMCON recoveries and gain from asset disposal recorded in Q 1 2017. 12

CRB: Earning Assets Interest Income & Earnings Assets N'million 1 Q 17 % DISTR. 4 Q 17 % DISTR. 1 Q 18 Interbank placements 11, 745 1. 33% 18, 483 2. 05% 28, 069 3. 07% 51. 87% 138. 98% Loans and advances to customers (gross) 682, 169 77. 51% 674, 684 75. 01% 641, 322 70. 14% -4. 94% -5. 99% Investments in government 186, 182 & corporate securities 21. 15% 206, 349 22. 94% 244, 903 26. 79% 18. 68% 31. 54% 1. 64% 3. 89% Total Earning Assets % DISTR. % Δ Qo. Q % Δ Yo. Y 880, 096 100. 00% 899, 516 100. 00% 914, 294 100. 00% Overall , total earning assets increased by 1. 64% and 3. 89% Qo. Q and Yo. Y. Improved liquidity profile saw 18. 68% growth in government securities and 51. 87% growth in interbank placements, Qo. Q. Loans and advances was the highest contributor in Q 1 218 with a book size of N 640 billion, representing 70. 14%. However, % contribution declined 4. 94% and 5. 99% Qo. Q and Yo. Y respectively, as the bank experienced significant pay-downs in oil and gas and power sectors. 13

CRB: Loans & Advances Loans dropped 6% Yo. Y & 5% Qo. Q through a reduction in FCY loan book and cautious growth the LCY loan book focusing on Agriculture, Manufacturing and Consumer Finance. CRB: Gross Loan Distribution by Segment 1 Q 17 vs. 4 Q 17 vs. 1 Q 18 460, 5 23, 6 457, 7 642. 7 34, 0 % Contr. 3% 68% 432, 6 %Δ Qo. Q %Δ Yo. Y Personal Banking -3. 4% -10. 1% SME Banking -16. 2% -17. 0% Corporate & Commercial Banking -5. 5% -6. 1% Institutional Banking 44. 1% 77. 2% Comments 84, 6 83, 8 70, 2 117, 8 109, 7 105, 9 1 Q 17 4 Q 17 1 Q 18 Personal Banking SME Banking Corporate & Commercial Banking Institutional Banking 12% 16% Retail Loans Balance (N’bn) 682. 2 19, 2 674. 8 Segment v Retail loan book dropped 13% Yo. Y and 9% Qo. Q. The Qo. Q drop stems from the impact of previously tightened RAC and FCY loan repayment in SME. Loan growth is expected to gain momentum in 2 H 18. v Corporate and Commercial banking dropped largely from FCY loan repayment to reduce concentration in this portfolio. v FCMB UK accounts largely for the Yo. Y and Qo. Q movement in Institutional banking. 14

CRBG: Deposit Analysis Qo. Q & Yo. Y growth in deposits across most segments. Total deposits increased by N 56 billion Qo. Q with SME and Personal Banking contributing 73% and 18% respectively to Q 1 2018 deposit growth in 1 Q 18. CRBG: Deposit Distribution by Segment - (1 Q 17 vs. 4 Q 17 vs. 1 Q 18) 692. 4 8, 3 50, 3 693. 3 11, 9 40, 1 112, 8 142, 9 41, 8 22, 2 227, 9 749. 4 16, 9 47, 8 1 Q 18 % Distri. 2. 3% 6% 133, 6 18% 16, 6 2% 36% 71% 252, 2 244, 5 262, 8 35% %Δ Yo. Y 4. 0% SME Banking 15. 1% 16. 1% -33. 7% -151. 8% -7. 0% 15. 6% 16. 1% -5. 2% 29. 6% 50. 9% 7. 6% 7. 4% Commercial Banking Corporate Banking Institutional Banking 271, 7 230, 7 Personal Banking %Δ Qo. Q 7. 0% Treasury & Financial Markets/ Others Total 1 Q 17 Personal Banking Commercial Banking Institutional Banking 4 Q 17 1 Q 18 SME Banking Corporate Banking Treasury & Fin Mkts/ Others 15

CRB: Deposit Analysis Total deposits grew 8% Yo. Y and 8% Qo. Q respectively, driven by 9% Yo. Y and 13% Qo. Q growth in CASA deposits as a result of our continued focus on retail banking. 1 Q 18 Low-Cost Deposit ratio is 70: 30 CRBG: Deposit Distribution by Type (1 Q 17 – 1 Q 18) 749. 4 692, 4 693. 3 640. 6 645. 4 225, 6 219, 2 203, 8 220, 4 High cost 30% 236, 4 164, 9 157, 5 150, 2 140, 9 153, 6 Low cost 70% 316, 6 286, 5 284, 1 302, 4 1 Q 17 2 Q 17 3 Q 17 4 Q 17 Current Savings 358, 9 1 Q 18 Fixed 16

CRB: OPEX Analysis OPEX recorded 6% increased Yo. Y, but 10% decrease Qo. Q. CRBG: OPEX Analysis by Expense Domain: 1 Q 17 vs. 4 Q 17 vs. 1 Q 18 15, 713 8 581 1 263 18, 483 10 656 16, 656 9 877 Expense Line Staff Costs Depreciation & % Contr. Amortisation Operating Total %Δ Yo. Y -16. 0% -6. 9% -0. 3% 4. 1% -7. 3% -9. 9% 15. 1% 6. 0% 59% Comments 1 318 1 314 8% 5 868 6 509 5 465 33% 1 Q 17 4 Q 17 1 Q 18 Staff Costs %Δ Qo. Q Dep. & Amort. Operating expenses increased by 6. 0% Yo. Y due to investments in business improvement, digital transformation and process automation. However, there was a 10% Qo. Q reduction as a result of the one-off contingency provisions for pending litigations in 4 Q 17. 17

Risk Management Review of Commercial & Retail Banking – Mrs. Toyin Olaiya (Chief Risk Officer: FCMB Ltd)

CRB: Loan & Coverage Analysis Qo. Q drop of 5% in Gross loans was largely from Oil & Gas Upstream, Power & Energy and Commerce. 22% growth in Agriculture as a focused sector for growth FCMB: Analysis of Gross Loans by Sector (Mar. 2017 – Mar. 2018) – N’m Industry Sector Agriculture Commerce Construction Education Finance & Insurance General – Others Government Individual - Bank Individual - CDL Individual - Microfinance Information & Communications Manufacturing Oil&Gas - Downstream Oil&Gas - Upstream Oil&Gas - Services Power & Energy Professional Services Real Estate Transportation & Logistics Mar '17 24, 721 50, 809 2, 764 9, 169 38, 782 11, 895 2, 741 97, 215 20, 617 12 26, 210 53, 249 49, 014 128, 593 18, 648 53, 518 600 86, 668 6, 957 682, 181 June '17 23, 035 50, 473 2, 673 9, 175 39, 768 16, 194 2, 524 95, 770 19, 842 48 22, 824 50, 651 48, 480 129, 486 19, 109 55, 660 68 89, 026 6, 692 681, 498 Sept '17 23, 770 49, 469 2, 776 8, 964 41, 761 16, 154 4, 056 94, 819 15, 134 67 22, 525 46, 268 49, 277 135, 021 19, 578 56, 050 56 88, 491 6, 692 680, 929 Dec '17 16, 376 46, 979 2, 818 8, 974 32, 211 12, 713 4, 168 94, 736 14, 857 1, 700 21, 194 43, 953 50, 022 146, 953 21, 115 56, 750 52 92, 918 6, 288 674, 776 Mar '18 19, 994 42, 570 1, 862 9, 371 42, 629 12, 684 4, 182 89, 176 15, 373 1, 358 22, 252 40, 373 47, 877 120, 701 21, 599 51, 648 46 93, 176 5, 811 642, 679 % DISTR. 3. 1% 6. 6% 0. 3% 1. 5% 6. 6% 2. 0% 0. 7% 13. 9% 2. 4% 0. 2% 3. 5% 6. 3% 7. 4% 18. 8% 3. 4% 8. 0% 0. 0% 14. 5% 0. 9% 100. 0% 19

CRB: NPL by Sector NPL grew 2% Qo. Q largely from Commerce and interest. Improved recoveries in CDL further dropped Individual NPL by 9% Qo. Q. FCMB: NPL Distribution by Sector (Mar. 2017 vs. Dec. 2017 vs. Mar. 2018) – N’m Industry Sector Agriculture Commerce Construction Education Finance & Insurance General – Others Government Individual - Bank Individual - CDL Individual - Microfinance Information & Communications Manufacturing Oil&Gas- Downstream Oil & Gas – Upstream Oil & Gas Services Power & Energy Professional Services Real Estate Transportation & Logistics Total Mar. 2017 NPL% 1, 009. 52 4. 4% 7, 669. 07 15. 1% 194. 23 7. 3% 2, 171. 75 23. 7% 8. 04 0. 0% 451. 20 2. 8% 8. 11 0. 3% 5, 500. 16 5. 7% 8, 398. 86 40. 7% 0. 0% 540. 27 2. 4% 2, 156. 15 4. 3% 278. 47 0. 6% 0. 0% 245. 45 1. 3% 32. 24 0. 1% 121. 89 179. 6% 407. 72 0. 5% 329. 98 4. 9% 29, 523. 13 4. 3% Dec. 2017 NPL% 1, 441. 00 8. 8% 6, 464. 16 13. 8% 295. 82 10. 5% 2, 239. 67 25. 0% 0. 26 0. 0% 359. 38 2. 8% 28. 81 0. 7% 5, 405. 76 5. 7% 2, 754. 39 18. 5% 53. 04 3. 1% 4, 669. 96 22. 0% 1, 680. 68 3. 8% 1, 293. 69 2. 6% 0. 0% 5, 134. 87 24. 3% 0. 0% 42. 92 82. 0% 894. 94 1. 0% 515. 06 8. 2% 33, 274. 40 4. 9% Mar. 2018 NPL% 1, 551. 00 7. 8% 6, 946. 79 16. 3% 313. 53 16. 8% 2, 417. 39 25. 8% 0. 26 0. 0% 533. 04 4. 2% 98. 09 2. 3% 5, 395. 27 6. 1% 2, 017. 36 13. 1% 60. 01 4. 4% 4, 925. 19 22. 1% 1, 647. 30 4. 1% 1, 357. 10 2. 8% 0. 0% 5, 280. 87 24. 4% 0. 0% 3. 78 8. 2% 903. 33 1. 0% 479. 54 8. 3% 33, 929. 83 5. 3% 20

CRB: COR Analysis Cost of Risk improved Qo. Q and Yo. Y due to cushion from higher collective impairment taken in prior period and marginal deterioration in loan book Yo. Y Cost of Risk Trend: March 2014 – March 2018 3, 0% 2, 5% 2, 0% 1, 5% 1, 0% 0, 5% 0, 0% 2, 8% 2, 2% 1, 4% 1, 1% Mar. 14 Mar. 15 Mar. 16 Mar. 17 Mar. 18 Cost of Risk Qo. Q Cost of Risk Trend: March 2017 – March 2018 4, 0% 3, 1% 3, 0% 2, 8% 2, 5% 1, 0% 0, 0% Mar. 2017 Jun. 2017 Sept. 2017 Dec. 2017 Mar. 2018 Cost of Risk 21

Group Performance Review: Asset & Wealth Management – Mr. James Ilori (Chief Executive Officer: FCAM Ltd)

Asset & Wealth Management Performance Overview Asset & Wealth Management Performance Review Our Asset & Wealth Management Business is divided into Pensions, Wealth Management and Collective Investment Schemes 1 Q 17 4 Q 17 1 Q 18 %Δ Qo. Q 146 471 982 108% 573% Net Interest Income 32 79 88 11% 170% Non Interest Income 114 392 894 128% 688% Operating Expenses -59 -294 -474 61% 701% PBT 95 157 508 224% 436% 6% 958% N’millions Gross earnings AUM 25, 987 260, 185 274, 928 %Δ Yo. Y ROAE 12% 30% 33% 10% 171% CIR 41% 62% 48% -23% 19% • The Asset & Wealth Management Division grew AUM by 6% Qo. Q to N 275 bn; • PBT increased by 224%, to N 508 million Qo. Q. Contribution to Group PBT rose from 14%, last quarter, to 16%. • CIR decreased from 62% to 48% Qo. Q. • The significant improvements in both PBT and CIR mainly reflect the positive impact of our Pensions business line on the Division’s performance. 23

Asset & Wealth Management Performance Overview Asset & Wealth Management’s Outlook for the Rest of 2018 AUM - 1 Q 18 vs. 2018 YE TARGET (%) 100% 90% • Although contribution to AUM from our Collective Investments Schemes line of Business is expected to rise to 8% by the end of 2018, our Pensions Business line will remain the largest contributor to AUM, at 88%. • We expect the launch of 2 Collective Investment Schemes (one local currency and one foreign currency) this year, to broaden product availability and strengthen our competitiveness. • We continue to target a PAT growth of 40%, for our Pensions business line in 2018. 88% 80% 70% 60% 50% 40% 30% 20% 10% 0% 5% Pensions 1 Q 2018 AUM % 4% Wealth Mgt 5% 8% Collective Investment Schemes 2018 YEAR-END AUM TARGET % 24

Group Performance Review: Investment Banking – Mr. Robert Grant (Senior Vice-President: FCMB Capital Markets Ltd)

Investment Banking Performance Review Our Investment Banking comprises FCMB Capital Markets Ltd and CSL Stockbrokers Ltd N’millions Gross earnings Net Interest Income Non Interest Income Operating 1 Q 17 4 Q 17 1 Q 18 % Δ Qo. Q % Δ Yo. Y • 223 722 487 -33% 118% 81 133 154 16% 89% 142 589 333 -43% 135% (303) (358) (337) -6% 11% PBT (69) 377 148 -61% 314% ROAE -11% 55% 10% -82% -193% CIR 130% 49% 70% 43% -46% Expenses Investment Banking recorded gross earnings growth of 118% Yo. Y, however, gross earnings declined Qo. Q by 33% due to a significant transaction in 4 Q 17. PBT was N 148 m from a loss of N 69 m in 1 Q 17, largely driven by CSL Stockbrokers Limited. • Investment Banking accounted for 5% of 1 Q 18 Group profits vs 4% in 4 Q 17. • CSLS’ 1 Q 18 trade value was N 102 billion and it ended the quarter as secondranked broker by transaction size. 26

Investment Banking Performance Review Investment Banking’s Q 1 2018 Performance Highlights • Market rebound as economy recovered from recession. Investors increased exposure to equities both foreign and at local levels due to: • Generally positive results from companies’ full year results; • Stability in the FX rate and rise in the foreign exchange reserve. • CSLS consolidated its position with foreign institutional clients. • CSLS’ local business (retail and institutional) recorded significant growth in 1 Q 18, due to engagement of PFAs and HNIs for portfolio restructuring and increased trading on its online trading platform. • FCMB Capital Markets Limited continues to identify opportunities for businesses to raise capital to pursue their growth and expansion plans, refinance debt etc. in the first half. 27

Looking Ahead at 2018 – Mr. Peter Obaseki (Chief Operating Officer: FCMB Group Plc)

Looking Ahead to HY 18 Economic activities and growth should continue to improve in 2018. Inflation expected to trend downwards. Monetary easing unlikely due to commencement of election cycle in H 2. Oil price and production outlook support a stable exchange rate for 2018. Key sectors of the economy (agribusiness, manufacturing and consumer finance) will continue to enjoy access to long term stable funding from local development finance institutions, including CBN and Bank of Industry. Commercial and Retail Banking core operating performance should continue to improve, due to balance sheet and transactional activity growth, reducing cost of funds and improving subsidiaries’ performance. Cost of risk for the year expected to be c. 2%. Loan growth will resume in the second half of the year. Investment banking profitability will remain stable but modest in contribution. Asset and Wealth Management is expected to surpass our initial target of N 2 billion additional PBT, with FCAM witnessing material profit growth, and the division benefitting from the consolidation of Legacy Pensions.