1Q 2026 Results Media Briefing

Good morning, everyone. We have our media friends with us here and we have some of our analysts are virtual. First in the room is somewhere and of course from the various offices. So we are going to go through our results for first quarter this year and because of the HSBC Indonesia international wealth and premium banking business that we are buying is under a non-disclosure agreement. So many of the numbers we would not be able to share and we ask for your understanding on that. So with that I will now pass the time to Chiniz and take us through the results. Good morning everyone. Thank you for joining OCBC's first quarter, 2026 results with it. OCBC delivered strong performance for first quarter of 2026. Group net profit was 1.97 billion Singapore dollars, up 13% Q on Q and 5% year on year. On the back of record, total income. ROE was 13% on an annualized basis.

Net interest income decline amid lower interest rates, partly cushioned by growth in assets, and will cover more in the later slides. The NII decline was more than compensated by record non-interest income, led by strong growth of our wealth management franchise. Non-interest income grew more than 20%, Q1Q and year on year, with broad-based double-digit increased cross-fee trading and insurance income. Despite the escalation of conflict in the Middle East during the quarter, wealth management fees recorded robust growth and our customer flow treasury income reached a new high. We continue to be disciplined in expenses with cost to

income ratio at 39.3%. Low-end deposit growth momentum was sustained up 9% and 10% year-on-year respectively. Our asset quality remained resilient, with NPL ratio stable at 0.9%. Factoring in the heightened macro uncertainties, additional management overlays were prudently taken this quarter with total credit costs at 23 basis points on annualized basis. NPA which grows to 163%. Our capital position remains strong. We fully face in CET1 capital-end-equacy ratio at 15.2%.

Moving on to our performance by Key Business Pillars on slide five. We continue to deliver resilient growth across our diversified franchise of banking, wealth management and insurance. Banking operations profit was up 9% Q on Q and 6% year on year driven by strong fee and trading income. Wealth management income rose 14% Q on Q and 11% year on year to 1.48 billion billion, comprising 39% of the group's total income. This was supported by growth across all segments from private to premier banking to insurance. Our wealth management franchise continues to attract net new money, with 5 billion of inflows for the quarter. Banking AUM moved 12%

year-on-year to $342 billion and was broadly unchanged Q&Q due to a decline in market valuations. For insurance, profit contribution from GEH was $323 million, up 44% Q&Q and generally steady year-on-year. Underline insurance performance was strong, partly offset by a lower valuation of investments, including those from shareholders' funds. Total weighted new sales and new business embedded value grew 16% and 31% year-on-year respectively, led by strong sales from Singapore across both agency and B

and B. margin improved to 48.6% moving on to more details about good performance trends something with net interest income on slack 8. NII for first Q of 26 was 2.22 billion Singapore dollars 5% down year on year and 3% below fourth Q of 25. On a day adjusted basis, NII was slightly lower by 1% Q on Q. To highlight, SORA dropped more than 160 basis points, high ball more than 120 basis points, and SOFR more than 60 basis points from a year ago. These key benchmark rates were also down Q1Q. The impact of lower interest rates was partly cushioned by average asset growth