#1BANK OF GEORGIA GROUP PLC INVESTOR PRESENTATION 2Q22 and 1H22 Performance 16 August 2022 www.bankofgeorgia group.com#2Disclaimer - forward looking statements This presentation contains forward-looking statements, including, but not limited to, statements concerning expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, competitive strengths and weaknesses, plans or goals relating to financial position and future operations and development. Although Bank of Georgia Group PLC believes that the expectations and opinions reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations and opinions will prove to have been correct. By their nature, these forward-looking statements are subject to a number of known and unknown risks, uncertainties and contingencies, and actual results and events could differ materially from those currently being anticipated as reflected in such statements. Important factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, certain of which are beyond our control, include, among other things: macro risk, including domestic instability; regional instability risk; credit risk; liquidity and funding risk; capital risk; market risk; regulatory and legal risk; financial crime risk; information security and data protection risks; operational risk; human capital risk; COVID-19 pandemic risk; model risk; climate change risk; and other key factors that could adversely affect our business and financial performance, as indicated elsewhere in this document and in past and future filings and reports of the Group, including the 'Principal risks and uncertainties' included in Bank of Georgia Group PLC's Annual Report and Accounts 2021 and in 2Q22 and 1H22 results announcement. No part of this document constitutes, or shall be taken to constitute, an invitation or inducement to invest in Bank of Georgia Group PLC or any other entity within the Group, and must not be relied upon in any way in connection with any investment decision. Bank of Georgia Group PLC and other entities within the Group undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required. Nothing in this document should be construed as a profit forecast. 2#3Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY 2022 and 1H22 RESULTS APPENDICES 3#4-5.1% -11.5% Jan-21 Feb-21 Mar-21 Source: GeoStat. Strong growth momentum in 1H22 Real GDP y-o-y growth: preliminary estimate 25.8% 18.7% 44.8% 1Q21 2Q21 3Q21 4Q21 2021 1Q22 2Q22E 1H22E Key drivers: -4.1% 28.9% 9.1% 8.8% 10.4% 14.9% 7.2% 10.5% 18.0% 14.6% 12.0% 11.6% 10.3% 10.6% 6.9% 4.0% 9.9% 6.9% 9.6% 7.2% 2.6% Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Continued recovery of tourism revenues, resilient inflows from exports and remittances Increased activity in the transportation, real estate, and hospitality sectors In 2Q22: Export of goods - up 29.8% y-o-y (35.7% y-o-y growth in 1H22) Remittances up 112.7% y-o-y (65.0% y-o-y growth in 1H22) Tourism revenues recovered to 85.3% of the 2019 level (78.5% recovery in 1H22)#5о 100 600 500 400 300 200 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 -100 Jan-21 Feb-21 Mar-21 Apr-21 Max-21 May-21 Goods exports, US$ m --% change y-o-y 600 448.6 500 400 300 200 100 о Remittances Nov-21 Dec-21 C Jan-22 Jan-22 O Feb-22 Feb-22 C Mar-22 Apr-22 May-22 Jun-21 Jun-21 LC-Isr Jul-21 Aug-21 Aug-21 Sep-21 Sep-21 Remittances inflow, US$ m Jun-22 Strong external inflows underpinning growth momentum Exports of goods Imports of goods Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 40% 27.9% 20% 100 0% -400 -20% 427.4 200% 400 150% 300 O 111.7% 100% 200 50% 100 0% O Jan-21 C Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jun-21 Jul-21 Jul-21 Aug-21 Aug-21 500 009 100% 80% 60% 1,600 1,100 I Goods imports, US$ m--% change y-o-y 1,047.0 Jan-21 Feb-21 Sep-21 Oct-21 Nov-21 Dec-21 Tourism inflows I International visitor trips, 000' persons -Tourism revenues, % of 2019 level Son-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 387.8 Jan-22 Feb-22 120% 100% O 88.7% 80% 60% 40% 20% 0% Source: GeoStat, NBG, GNTA. Mar-22 Apr-22 May-22 Jun-22 60% 40% 21.2% 20% 0% -20% 5#6Reasonably optimistic economic outlook Georgia's economic growth forecast 7.4% 6.4% 10.4% 9.2% 4.8% 4.8% 5.0% 4.4% 3.6% 3.0% 2.9% 5.0% -6.8% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022F2023F Source: GeoStat, Galt & Taggart. Considering stronger-than-expected growth in the first half of the year and promising preliminary data, Galt & Taggart has revised 2022 real GDP growth forecast up to 9.2% Ongoing war in Ukraine and global recession fears remain downside risks to growth 6#7Feb-14 Jul-14 Dec-14 May-15 Oct-15 Source: GeoStat, NBG. Mar-16 Monetary policy remains tight to curb inflation pressures 16% Monetary policy rate 16% Annual CPI inflation 14% Inflation is high, largely driven by global commodity price pressures 14% 5-year Annual May-22 Jun-22 average 12% Headline CPI 6.4% 13.3% 12.8% 12% Core CPI 4.4% 5.9% 5.8% 10% 10% 8% 6% 4% 2% 0% -2% 8% 6% 4% 2% 0% -2% Aug-16 Jan-17 Jun-17 Nov-17 Apr-18 Sep-18 Feb-19 Jul-19 Dec-19 May-20 Oct-20 Mar-21 Aug-21 Jan-22 Jun-22 Although current inflation is mainly driven by globally elevated food and energy prices, demand-side price pressures have also intensified. To curb inflation expectations, the NBG maintains tight monetary policy with the refinancing rate at 11% since March 2022 Inflation is expected to moderate in the second half of 2022 7#8GEL supported by sustained FX inflows and tight monetary policy Currency movements vs. US$, Jan 2022 - Jul 2022 20.7% 18.0% 12.0% 0.1% -7.9% -8.8% -10.1% -25.4% -25.8% RUB AMD GEL AZN MDL KZT EUR UAH TRY GEL real effective exchange rate 120 REER (Jan 2014 = 100) 110 22 100 90 80 Feb-14 Jun-14 Oct-14 Feb-15 Jun-15 Oct-15 Feb-16 Jun-16 Oct-16 Feb-17 Jun-17 Source: Bloomberg, NBG. Note: +/- means appreciation/depreciation. 120 REER 3-year moving average +2.4% 110 YTD Oct-17 Feb-18 Jun-18 Oct-18 Feb-19 Jun-19 Oct-19 Feb-20 Jun-20 Oct-20 Feb-21 Jun-21 Oct-21 Feb-22 Jun-22 100 90 80 GEL continues to appreciate on the back of strong external inflows, tight monetary policy and improved sentiments. As of 31 July 2022, the Georgian currency gained 12.0% against the US Dollar year-to-date Given strong external inflows and tight monetary policy, GEL is expected to remain stable in the medium term 8#9Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY 2022 and 1H22 RESULTS APPENDICES#10Bank of Georgia Group at a glance BANK OF GEORGIA GROUP PLC RETAIL BANKING Mass Retail Premium Banking MSME CORPORATE AND INVESTMENT BANKING Leader in payments and financial mobile app 52.3% of total volume of POS payment transactions in Georgia executed in BOG's POS terminals in 2Q22 (vs 48.0% in 2Q21) Number of monthly active digital users increased from 729k to 959k y-o-y and the share of monthly active digital users in total active individual clients increased y-o-y by 8.3 ppts to 64.3% 53.9% of total transactions in the second quarter went through mBank/iBank, up 8.3 ppts y-o-y Strongest retail banking franchise 42.4% market share in deposits of individuals* 39.0% market share in loans to individuals* Most trusted bank and top of mind bank in Georgia** NPS of 52% in June 2022*** Robust profitability Sustainably delivering ROAE above 20% *Based on data published by the National Bank of Georgia as at 30 June 2022. **Based on spring 2022 external research by IPM Georgia. ***Based on 2Q22 external research by IPM Georgia. 10 10#11Track record of strong performance ROAE 20%+ 31.8% 26.4% 26.1% 25.8% 13.0% 2018 2019** 2020 2021 1H22 11 27.0% 21.4% 18.9% 19.8% Loan book YoY growth 17.8% 22.0% c.10% 19.0% 13.9% 10.2% 10.2% 2018 2019 2020 2021 1H22 Nominal Constant currency basis CAPITAL DISTRIBUTION Our policy is to maintain regular progressive semi-annual dividend payouts: aiming at a 30-50% dividend/share buyback payout ratio Total dividend of GEL 3.81 per ordinary share paid in respect of the Group's 2021 earnings (dividend payout ratio of 25%). In addition, on 30 June 2022, the Board announced the commencement of a GEL 72.7 million share buyback and cancellation programme, bringing the total payout ratio to 35% The Board has declared an interim dividend of GEL 1.85 per ordinary share in respect of the period ended 30 June 2022. In addition, after the completion of the current share buyback and cancellation programme, the Board will extend the programme by a further GEL 40 million Adjusted for GEL 30.3m demerger-related costs, a GEL 8.0m demerger-related corporate income tax gain, a GEL 30.3m one-off impact of re-measurement of deferred tax balances and a GEL 3.9m (net of income tax) termination costs of former CEO.. Adjusted for GEL 14.2m (net of income tax) termination costs of former CEO and executive management. Dividend yield for 2013-2021 is calculated based on the closing price of shares immediately prior to ex-dividend date. PAYOUT RATIO: 30% 36% 33% 34% 32% 30% 30% 35% GEL 72.7m 6.7% 4.0% 4.2% 2.4% 3.2% 3.1% 2.7% 3.1% 72 551 22 184 122 124 98 102 80 2013 2014 2015 2016 2017 2018 Total dividend paid (GEL million) 2019 2020 2021 Dividend yield*** Share buyback#12Strategic focus DATA-DRIVEN ORGANISATION Mobile app CUSTOMER Payments SATISFACTION Loyalty STRONG FRANCHISE PROFITABILITY EMPLOYEE EMPOWERMENT 12#13Fulfilling the needs of customers digitally and increasing engagement 13 MBANK/IBANK* Number of monthly active users** Number of transactions MILLIONS 9:41 Search Total Available Amount 4,652.23 Operations Visa Gold 2,744.00 0000 THOUSANDS +31.6% +57.0% +7.5% +17.2% 9:41 41.3 959 892 853 766 729 35.4 35.3 Categories 30.2 26.3 64.3% 61.2% 62.4% Payments 58.8% 56.0% 65.600 Jun-21 VISA . Payments Transfer to Own Accounts PLUS 8,744 MR Poets 26,744 Deposits and Liabilities Lubdres 9,744.000 Deposts 7,060.000 Best Mobile Banking App in Central and Eastern Europe (Global Finance, 2022) Sep-21 Dec-21 Mar-22 Jun-22 2Q21 3Q21 4Q21 1Q22 2Q22 Google play App store Number of monthly active users mBank iBank 4.7 4.8 Share in monthly active customers (individuals) Daily active users/ 45.8% monthly active users +5.6 ppts y-o-y Average number of transactions per month in mBank Customer Satisfaction 13.4m +58.7% y-o-y Score 91% * Information on this slide depicts the use of mobile and internet banking platforms by individual clients. ** Monthly active user - at least one login within the past month in mBank or iBank.#14Increasing the share of mBank/iBank transactions* NUMBER OF TRANSACTIONS MILLIONS Offloading rate 96.2% 96.5% 96.0% 96.6% 96.5% +32.7% +16.6% 76.6 69.6 2.7 65.7 61.7 2.8 11.2 2.2 57.7 2.2 10.2 9.0 2.2 9.7 9.1 21.4 27.9% 21.1 30.3% 19.1 29.0% 19.6 31.7% 20.1 34.7% 41.3 53.9% 35.4 50.8% 53.7% 35.3 30.2 48.9% 26.3 45.6% 2Q21 3Q21 iBank/mBank Information on this slide depicts the use of channels by individual clients. 4Q21 Express pay terminals ■ ATMs 1Q22 2Q22 Branches Other 14#15Good progress in product offloading to digital channels PRODUCT OFFLOADING* THOUSANDS 299 390 367 374 213 29.1% 28.4% 21.7% 2Q21 35.0% 33.8% 3Q21 4Q21 1Q22 2Q22 I Number of products activated digitally Offloading rate * Mainly comprises card, deposit, and loan activations in digital channels. Continuously developing our digital products and refining end-to-end digital journeys. The functionalities of our digital channels are updated every two to three weeks Redesigned deposit activation flow launched at the end of 2021 Offers Hub added to our mobile app at the end of 2021, with personalised offers driven by our recommendation engine Insurance marketplace launched in the first quarter of 2022 Product 15 Planned product 34% offloading rate (c.36%) offloading rate by in 2Q22 the end of June 2022#16Full digital experience for our business customers BUSINESS MBANK/IBANK STATISTICS* Number of monthly active users** THOUSANDS +31.7% +9.1% 47 41 43 39 36 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 0 Οι 0 (1,065k) Average transactions per month 80% Customer Satisfaction Score * Information on this slide depicts the use of internet and mobile banking platforms by legal entities. **Monthly active user - at least one login within the past month in Business mBank or iBank. Number of transactions in Business mBank/iBank has been corrected for 3Q21, 4Q21, and 1Q22. Number of transactions MILLIONS +39.5% +24.8% 3.7 3.3 2.9 2.8 2.6 2Q21 3Q21 4Q21 1Q22 2Q22 1324,147,437.080 224,994.00 www कक W ๆ 157k Average transactions per month 82% Customer Satisfaction Score 16#17Payments - our daily touch point with customers NUMBER OF PAYMENT TRANSACTIONS MILLIONS 36 +60.5% +29.4% VOLUME OF PAYMENT TRANSACTIONS GEL MILLIONS +63.4% +26.4% 1,650 58 1,386 1,270 1,305 42 45 45 42 1,010 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 (54.7%) Share by number of POS payment transactions in BOG's POS terminals | 2Q22* +4.4 ppts YoY *Based on the National Bank of Georgia and Bank of Georgia data. (52.3%) Share by volume of POS payment transactions in BOG's POS terminals | 2Q22* +4.3 ppts YoY 17#18Loyalty programme - one of the strengths of Bank of Georgia GEL 1.4m +54.0% y-o-y -6.1% q-o-q 225k +75.1% y-o-y +3.8% q-0-9 Average monthly value of loyalty points exchange operations Average monthly loyalty points exchange operations in 2Q22 ADVANCED ANALYTICS for partner merchants * Members with at least one active product. in 2Q22 PERSONALISED CAMPAIGNS 1.5m +9.3% y-o-y active Loyalty programme members* June-22 18#19Customer satisfaction FOCUS ON INCREASING CUSTOMER SATISFACTION BY: Engaging with customers proactively and responding in real time Anticipating customer needs, wants, and future behavior Harnessing strong human relationships with data analytics for dynamic customer insights Investing in technology to deliver seamless customer experience MEDALLIA salesforce NPS* 49% 47% 46% 43% 42% 39% 38% 37% 34% 33% 33% COVID-19 27% pandemic impact 55% 54% 52% Mar-17 Oct-17 May-18 Sep-18 Jun-19 Nov-19 Feb-20 Aug-20 Dec-20 Mar-21 Jun-21** Sep-21 Dec-21 Mar-22 Jun-22 *Based on external research by IPM Georgia. ** NPS of all major banks decreased due to monetary policy rate hike. 19#20Employee empowerment Re-design of employee experience New talent development strategy Employees feel more engaged and enabled 73% High-Performing Organisations Benchmark 73% 2021 70% 2022 67% Banking Industry Benchmark Based on the KORN FERRY survey. High-trust environment Values-based organisation ENPS 60% 61% 58% 73% High-Performing Organisations Benchmark 50% 46% 74% 2021 73% 2022 68% Banking Industry Benchmark Nov-19 Nov-20 Apr-21 Nov-21 Apr-22 20#21Data-driven organisation >100 Data models, covering different business processes 88% Automation rate in the retail lending process in 2Q22 38% Contribution to sales, powered by data- driven models in 2Q22 DATA IN BANKING Use of data analytics to cover core banking processes with impact on decision making, automation, sales, customer satisfaction, efficiency DATA BEYOND BANKING Use of data analytics for data monetisation and to create additional value for customers, the Bank, and the ecosystem 21#22ESG scores from independent rating agencies ISS‣* ENVIRONMENT 3 SOCIAL 2 GOVERNANCE 2 MSCI ** Bank of Georgia falls into the highest scoring range relative to global peers CCC B BB BBB A AA AAA LAGGARD AVERAGE FTSE4GOOD Index INCLUDED IN THE GLOBAL RESPONSIBLE INVESTMENT INDEX FTSE4GOOD SINCE 2017 ** LEADER 22 22 ISS uses 1-10 scale. 1 indicates lower governance risk, while 10 indicates higher governance risk versus its index or region. 1 indicates higher E&S disclosure, while 10 indicates lower E&S disclosure. Scores are as of 1 August 2022. MSCI score is as of 26 July 2022.#23Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY 2Q22 and 1H22 RESULTS APPENDICES 23 23#242Q22 and 1H22 financial highlights Resilient loan portfolio Strong top-line Outstanding profitability quality and focus on efficiency Solid portfolio growth Operating income Profit Cost of credit risk ratio Loans 30 Jun 2022 GEL 495m GEL 275m +47.7% y-o-y +25.0% q-o-q 2Q +36.3% y-o-y +14.5% q-o-q 2Q 0.6% 2Q GEL 16.3bn GEL 891m 1H +39.5% y-o-y GEL 516m +51.3% y-o-y 1H 0.7% 1H +10.2% y-o-y +0.1% q-o-q* * Share of non- interest income Cost to income ROAE Deposits 30 Jun 2022 43.2% 2Q 32.8% 2Q 32.5% 2Q GEL 15.1bn +8.3% y-o-y ** 37.9% 1H 31.8% 1H 33.6% 1H +4.0% q-o-q ** * Growth on a constant currency basis was 17.8% y-o-y and 4.3% q-o-q. ** Growth on a constant currency basis was 16.0% y-o-y and 9.1% q-o-q. 24 Robust capital base and liquidity position CET 1 capital 30 Jun 2022 14.0% Minimum requirement 11.7% Liquidity coverage 30 Jun 2022 113.5% Minimum requirement 100%#25Robust underlying performance OPERATING INCOME +47.7% +25.0% 495 +39.5% 891 396 379 338 348 214 639 335 109 124 105 198 107 553 270 271 281 441 228 243 2Q21 3Q21 4Q21 Net interest income 1Q22 2Q22 1H21 1H22 Net non-interest income 25 All currency data are in GEL m unless otherwise stated NET NON-INTEREST INCOME +100.2% +71.9% 214 7 +70.7% 338 8 190 126 198 124 1 107 105 109 51 222 557 9 11 27 64 33 34 41 22 140 57 62 44 64 59 59 81 106 2Q21 3Q21 4Q21 1Q22 2Q22 1H21 1H22 Net fee and commission income Net foreign currency gains Net other income Strong y-o-y top-line results in 2Q22 and 1H22 across revenue lines, and the q-o-q performance particularly robust on net fee and commission income and net foreign currency gain side, reflecting higher client-related volumes on the back on increased tourism and migrant flows and higher spreads due to exchange rate volatility#26Investing in strategic areas and focusing on efficiency OPERATING EXPENSES +32.1% +16.3% +30.6% 26 All currency data are in GEL m unless otherwise stated COST TO INCOME RATIO 299 2 161 151 51 52 1 138 229 122 2-23 128 2 28 1 1 25 25 45 224 39.8% 71 23 37 36.4% 36.8% 44 34 54 54 30 32 174 95 81 69 72 78 129 2Q21 35.9% 35.0% 33.6% 32.5% 3Q21 4Q21 1Q22 Other operating expenses 2Q22 1H21 Depreciation, amortisation and impairment 1H22 2Q21 3Q21 4Q21 1Q22 2Q22 1H21 1H22 Administrative expenses Salaries and other employee benefits Growth in operating expenses driven by strong business growth and continuing investments in IT and other strategic areas, in the inflationary environment Positive operating leverage in 2Q22 and 1H22 c.35% Medium-term guidance#27Solid loan and deposit growth LOAN PORTFOLIO +10.2% +17.8% +0.1% +4.3% 16,169 16,289 15,579 14,789 16,300 DEPOSIT PORTFOLIO 27 All currency data are in GEL m unless otherwise stated +8.3% +16.0% +4.0% +9.1% 15,100 13,944 14,038 14,517 13,313 8,820 8,715 8,347 8,611 54% 51% 8,351 55% 55% 8,190 8,612 8,765 9,243 61% 56% 59% 8,334 63% 60% 61% 6,438 44% 6,969 45% 7,349 45% 7,574 46% 7,953 49% 5,755 41% 4,979 37% 39% 5,426 5,752 40% 5,857 39% Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Net Loans GEL Net Loans FC Jun-21 Sep-21 Dec-21 Client deposits and notes GEL Growth on a constant currency basis Mar-22 Jun-22 Client deposits and notes FC#28Focusing on profitability, while maintaining strong competitive positions MARKET SHARE-GROSS LOANS MARKET SHARE-CUSTOMER DEPOSITS 38.1% 38.4% 38.8% 38.9% 39.1% 40.1% 40.4% 40.3% 40.7% 38.9% 35.6% 36.0% 35.7% 36.0% 36.2% 37.8% 37.8% 37.5% 36.1% 36.4% Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 BOG Peer bank BOG Peer bank MARKET SHARE-LOANS TO INDIVIDUALS MARKET SHARE - DEPOSITS OF INDIVIDUALS 42.4% 38.4% 39.0% 39.0% 39.1% 39.0% 40.3% 40.2% 40.3% 41.2% 40.0% 38.3% 38.2% 38.6% 38.6% 38.5% 39.6% 40.3% 39.6% 39.2% Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 BOG Peer bank BOG Peer bank Market data based on standalone accounts as published by the National Bank of Georgia. 28 28#29Net interest margin – broadly stable going forward NET INTEREST MARGIN LOAN YIELD, COST OF FUNDS, COST OF DEPOSITS 10.4% 10.6% 11.0% 11.1% 11.4% 11.3% 10.4% 5.3% 5.3% 5.3% 5.3% 5.2% 5.0% 4.8% 5.0% 5.1% 4.5% 4.7% 4.5% 4.7% 4.6% 3.5% 3.6% 3.5% 3.7% 3.7% 3.6% 3.7% 2Q21 3Q21 4Q21 1Q22 2Q22 1H21 1H22 2Q21 3Q21 4Q21 1Q22 2Q22 1H21 1H22 The y-o-y increase in NIM driven primarily by higher loan yield coupled with the successful deployment of excess liquidity, partly offset by increased cost of funds Loan yield Cost of funds Cost of client deposits and notes 29#30Healthy loan portfolio COST OF CREDIT RISK RATIO 0.8% 0.2% 30 All currency data are in GEL m unless otherwise stated LOAN PORTFOLIO QUALITY 0.7% NPL coverage 73.1% 90.9% 0.6% 0.1% 2Q21 3Q21 4Q21 1Q22 2Q22 1H21 1H22 -0.2% -0.6% Cost of credit risk down in the second quarter of 2022 vs 1Q22, with RB's cost of credit risk stabilised during 2Q22, as expected NPLs to gross loans broadly stable 95.5% 97.3% 89.6% NPL coverage adjusted for collateral value 122.2% 140.9% 147.7% 153.0% 138.0% 3.5% 2.6% 2.5% 2.6% 2.4% 525 414 424 437 395 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 INPLS, GEL millions NPLs to gross loans#31Strong bottom-line growth and robust profitability PROFIT +36.3% +14.5% +51.3% 275 241 202 201 185 ROAE 31 All currency data are in GEL m unless otherwise stated 32.8% 30.7% 29.4% 26.4% 25.7% 516 341 25.6% 31.8% 2Q21 3Q21 4Q21 1Q22 2Q22 1H21 1H22 2Q21 3Q21 4Q21 1Q22 2Q22 1H21 1H22#32Strong capital position, with ratios comfortably above minimum requirements Capital adequacy ratios and minimum requirements 32 19.7% 19.1% 19.2% 19.3% 19.8% 17.7% 17.7% 17.6% 17.3% 16.4% 17.5% 14.4% 14.6% 15.0% 15.4% 13.7% 14.0% Buffer 13.2% 12.5% 12.8% 14.1% 14.0% 13.4% 13.2% 13.6% 11.1% 11.0% 11.5% 11.8% 11.7% Minimum requirement Capital adequacy ratio Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 ■CET1 capital Tier1 capital Total capital Capital distribution: On 30 June 2022, the Board announced the commencement of a GEL 72.7 million share buyback and cancellation programme which, on top of the total dividends paid in respect of the Group's 2021 earnings, increased the total dividend/share buyback payout ratio, relating to 2021 earnings, to 35.0%. This amount is fully deducted from regulatory capital as at 30 June 2022 Considering the Group's strong performance during the first half of 2022, the Board has decided to declare an interim dividend of GEL 1.85 per ordinary share in respect of the period ended 30 June 2022, payable to ordinary shareholders of Bank of Georgia Group PLC on 20 October 2022. In addition, after the completion of the current GEL 72.7 million share buyback and cancellation programme, the Board will extend the programme by a further GEL 40 million#33Evolution of capital ratios and update on minimum capital requirements EVOLUTION OF CAPITAL RATIOS DURING 2Q22 Capital 31 March 2Q22 2022 profit Business Currency Capital growth impact distribution 30 June facility Potential impact of a 10% GEL 2022 impact devaluation CET1 capital adequacy ratio 13.7% 1.0% -0.4% 0.5% -0.8% 0.0% 14.0% -0.9% Tier I capital adequacy ratio 15.4% 1.0% -0.5% 0.5% -0.8% 0.8% 16.4% -0.8% Total capital adequacy ratio 19.7% 1.0% -0.6% 0.4% -0.8% 0.1% 19.8% -0.7% EXPECTED MINIMUM CAPITAL REQUIREMENTS FOR 2022-2023 Bank of Georgia's minimum capital requirements, reflecting the full loading of Basel III capital requirements, to be completed in 2023, which remain subject to ongoing annual regulatory reviews, are currently expected to be as follows: Dec-22 Dec-23 requirement requirement CET1 capital 11.8% 12.1% Tier I capital 14.1% 14.5% Total capital 17.6% 17.6% 33#34Strong capital adequacy position 34 All currency data are in GEL m unless otherwise stated BOG EQUITY VS. CET1 REGULATORY CAPITAL- JUN-22 RISK-WEIGHTED ASSETS +11.3% % of RWAS +0.6% 14.0% 1.6% 0.7% 1.6% 17.9% 301 3,312 130 16,599 17,248 17,978 18,372 18,482 288 2,594 2.3% NBG CET1 capital Loan IP Other provisioning provisioning deductions* methodology methodology difference difference BOG equity (IFRS) Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 * Revaluation reserve, investments in non-financial subsidiaries and intangible assets. Existing additional capital buffer (2.3% of risk-weighted assets) reflects the differences in provisioning methodology between IFRS 9 and the NBG The NBG is currently transitioning to IFRS-based financial reporting#35Strong liquidity and funding positions LIQUIDITY COVERAGE AND NET STABLE FUNDING RATIOS JSC Bank of Georgia standalone (Basel III liquidity) 136.8% 132.5% 129.7% 124.5% 124.0% 112.7% Dec-21 Jun-21 Sep-21 ■Liquidity coverage ratio 130.7% 130.6% 116.2% Mar-22 113.5% NET LOANS TO CUSTOMER FUNDS AND DFIs 117.0% 115.2% 112.2% 107.9% 106.1% 102.1% 100.0% 97.9% 95.5% 93.2% Jun-22 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Net loans to customer funds Net stable funding ratio Net loans to customer funds and DFIs 35#36Diversified funding structure * INTEREST-BEARING LIABILITIES 36 All currency data are in GEL m unless otherwise stated BORROWED FUNDS MATURITY PROFILE (US$, million)* 21,419 20,610 455.2 19,875 18,685 18,888 12.9% 10.8% 9.1% 4.7% 9.9% 8.1% 7.6% 6.9% 6.1% 8.1% 10.6% 11.9% 190.6 12.6% 12.6% 11.5% 74.6% 70.6% 70.4% 70.5% 70.5% 264.6 112.4 101.6 82.9 Jun-21 Sep-21 150.6 147.0 41.8 15.1 9.3 3.6 3.6 Dec-21 Mar-22 Jun-22 2022 2023 2024 Bonds 2025 2026 2027 2028 2029 Senior Loans 2030 ■Subordinated loans Borrowings Client deposits and notes Debt securities issued Due to credit institutions Converted at GEL/US$ exchange rate of 2.9289 at 30 June 2022. c.GEL 688 million undrawn long-term facilities attracted from DFIs as at 30 June 2022 Strong long-term funding pipeline to secure resources needed for the next 12 months US$111.1 million Eurobonds due 2023 repurchased#37Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY 2022 and 1H22 RESULTS APPENDICES: ADDITIONAL INFORMATION AND SEGMENT RESULTS 37#38Well-diversified loan book 38 All currency data are in GEL m unless otherwise stated GROSS LOAN PORTFOLIO BREAKDOWN | JUN-22 Breakdown by segment Bank of Georgia standalone Total: GEL 16,091 RB loan portfolio breakdown by product Bank of Georgia standalone Total: GEL 11,171 Other, 2.6% CB loan portfolio breakdown by sector* Bank of Georgia standalone Total: GEL 4,920 Corporate Banking, 4,920,30.6% Retail Banking, 11,171,69.4% Credit cards and overdrafts, 1.9% General consumer loans, 25.3% Mortgage loans, 35.7% Micro and SME loans, 34.5% Other, 24.1% Manufacturing, 15.6% Electricity, gas and water supply, 8.2% Agriculture, hunting and forestry, 11.5% Trade, 8.6% Hospitality, 14.9% Real estate, 17.1% Top 10 CB borrowers 21.6% of CB gross loan book * Sectors that represent more than 1% of CB gross loan portfolio: service, construction, mining & quarrying, transport & communication, financial intermediation, health & social work. Starting from 3Q21, Wealth Management has been reclassified from Corporate and Investment Banking to Retail Banking. Top 20 CB borrowers - 32.6% of CB gross loan book#39Borrowers and FX risk % is given for Bank of Georgia standalone gross loan portfolios FC loans exposed to FX risk* (% of segment portfolio) FC loans with minimal exposure to FX risk (% of segment portfolio) Retail Banking Mortgages 31.1% 12.2% 5.6% 4.0% Consumer loans** 3.0% 1.1% MSME 16.0% 0.5% Corporate Banking Total 38.3% 39.9% 33.3% 16.1% *Loans disbursed in FC when a borrower's income is in GEL **Includes credit cards. Starting from 3Q21, Wealth Management has been reclassified from Corporate and Investment Banking to Retail Banking. The comparative periods have been restated accordingly. 39#40Retail Banking – loan and deposit portfolio - Net loans 40 All currency data are in GEL m unless otherwise stated +17.9% Deposits +1.7% +17.0% +26.7% +4.1% +24.0% +10.0% +4.9% 10,260 10,740 10,925 9,175 9,558 9,858 10,350 8,768 9,791 9,265 3,865 42% 3,944 40% 4,148 40% 4,249 40% 4,058 37% Growth on a constant currency basis 6,337 72% 6,568 72% 6,653 70% 6,911 70% 7,091 69% 5,400 58% 5,847 60% 6,201 60% 6,491 60% 6,867 63% 2,431 28% 2,608 28% 2,905 30% 2,947 30% 3,169 31% Jun-21 Sep-21 Net Loans GEL Dec-21 Mar-22 Jun-22 Net Loans FC Jun-21 Sep-21 Client deposits and notes GEL Dec-21 Mar-22 Jun-22 Client deposits and notes FC Loan yield Cost of client deposits and notes 15.2% 15.3% 15.6% 15.9% 16.1% 11.1% 11.4% 11.7% 11.9% 12.3% 15.2% • 11.1% 16.0% 7.4% 7.2% 6.8% 7.5% 6.3% 12.1% 5.9% 5.9% 5.9% 5.7% 5.8% 5.8% 6.1% 6.0% 6.0% 2.6% 2.5% 2.5% 2.6% 2.6% 2.7% 2.6% 2Q21 3Q21 4Q21 1Q22 2Q22 1H21 1H22 Loan yield Loan yield (GEL) Loan yield (FC) 1.4% 1.5% 1.1% 2Q21 3Q21 4Q21 0.8% 0.6% 0.5% i 1Q22 2Q22 0.5% 1H21 1H22 Cost of deposits Cost of deposits (GEL) Cost of deposits (FC) Starting from 3Q21, Wealth Management has been reclassified from Corporate and Investment Banking to Retail Banking. The comparative periods have been restated accordingly.#41- Corporate and Investment Banking – loan and deposit portfolio Net loans Deposits 41 All currency data are in GEL m unless otherwise stated +0.6% +11.6% -10.2% -6.5% +1.8% -0.7% +5.9% 5,056 5,101 4,784 4,847 4,814 +4.6% 4,752 4,195 4,270 4,015 1,396 29% 3,831 3,789 79% 3,976 79% 3,987 78% 3,792 78% 3,754 78% Growth on a constant currency basis 1,363 36% 1,456 36% 1,272 30% 1,511 35% 3,356 71% 2,468 64% 2,559 64% 2,922 70% 2,759 65% 995 21% 1,080 21% 1,114 22% 1,054 22% 1,061 22% Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Net Loans GEL Net Loans FC Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Client deposits and notes GEL Client deposits and notes FC Loan yield Cost of client deposits and notes 14.1% 14.3% 14.7% 14.9% 14.8% 13.3% 9.4% 9.2% 12.8% 8.9% 8.4% 8.1% 7.7% 7.4% 8.5% 8.7% 9.2% 9.1% 9.0% 9.1% 6.3% 6.2% 8.5% 5.6% 5.6% 6.2% 5.0% 5.3% 7.8% 7.3% 7.6% 7.4% 7.5% 7.5% 7.2% 0.6% 0.7% 0.4% 0.3% 0.0% 0.0% 0.0% 2Q21 3Q21 4Q21 1Q22 -Loan yield 2Q22 1H21 Loan yield (GEL) 1H22 2Q21 3Q21 Loan yield (FC) Starting from 3Q21, Wealth Management has been reclassified from Corporate and Investment Banking to Retail Banking. The comparative periods have been restated accordingly. 4Q21 1Q22 2Q22 Cost of deposits Cost of deposits (FC) 1H21 1H22 Cost of deposits (GEL)#42Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY 2022 and 1H22 RESULTS APPENDICES: MACROECONOMIC OVERVIEW 42#43Diversified and resilient economy 25 Gross domestic product 20 15 7.4% 6.4% 10 5 о -5 -10 -15 Nominal GDP, US$ bn 15% Nominal GDP by sector, 2021 Other 12% 10.4% 9% Accom. & food service 3.3% 10.7% Trade 16.6% Entertainment 4.0% 4.8% 4.8% 5.0% 6% 4.4% 3.6% 3.0% 2.9% Education 4.2% 3% Healthcare 4.8% 0% Financial & insurance -3% 5.2% Transport & -6% -6.8% storage 6.2% -9% Public admin. 6.5% Construction Agriculture 7.0% 8.0% 2011 2012 2013 2014 Source: GeoStat. 2015 2016 2017 2018 2019 2020 2021 Source: GeoStat. 43 Manufacturing 13.4% Real estate 10.2%#44One of the fastest-growing economies in the region Comparative real GDP growth rates, 2011-2021 average Real GDP growth projections 0.0% 1.2% 1.7% 1.7% 1.8% Ukraine Azerbaijan Russia Bulgaria Czech Rep. Source: IMF. 5.7% 12% 10% 4.2% 8% 3.3% 3.4% 3.6% 3.6% 4.5% 3.8% 6% 2.8% 4% 2% 0% -2% -4% Latvia Poland Romania Lithuania Estonia Armenia Moldova Georgia Turkey -6% -8% Emerging and developing Europe -South Caucasus Georgia Source: World Bank - Global Economic Prospects, June 2022. 44 12% 10% 8% 6% 4% 2% 0% -2% -4% -6% -8%#45600 1,183 1,212 Unemployment down as the economy opened up Employed and unemployment rate 1,198 Composition of employment Employed, 000' persons 1,400 27.2% Unemployment rate, % 30% 100% 11.3% 100% 26.7% 26.4% 1,200 25% 31.9% 23.0% 80% 80% 18.9% 21.9% 21.7% 21.6% 20.6% Industry 1,000 19.2% 18.5% 20% 17.6% 60% 800 15% 60% ■Agriculture 400 200 O Source: GeoStat. 1,255 1,308 1,295 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1Q22 40% 10% 69.8% ■Services (incl. construction) 20% 5% 20% 0% 0% 40% ■ Hired 68.1% 0% 2021 2021 Source: GeoStat. Self- employed 45#46Fiscal consolidation – high on the agenda - Fiscal deficit and public debt Consolidated budget tax revenues, GEL m 2020 2021 2022 -Fiscal balance as % of GDP -Total public debt as % of GDP 1,800 +33.9% y-o-y growth in 1H22 60.2% Public debt/GDP capped at 60% 1,600 40.3% 38.9% 49.5%44.6% 42.5% 1,400 36.7% 28.3% 29.5% 45.3% 43.7% 39.4% 40.4% 1,200 31.9% 31.0% 28.8% 1,000 800 -2.0% -1.9% -2.4% -2.7% -2.1% -1.7% -2.6% -2.8% -2.3% -2.8% -2.3% 600 -2.3% -3.6% 400 -5.3% -6.1% -9.3% 200 2010 2011 2012 2013 2014 2015 2016 2017 2018 Source: MOF, GeoStat, forecasts as of 2022 budget law. Note: Deficit calculated as net lending / borrowing minus budget lending. 2019 2020 2021 2022F 2023F 2024F 2025F Source: MOF. Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 46#47O Feb-14 1 2 3 International reserves at adequate levels International reserves Gross international reserves, US$ bn 5 Reserve adequacy: 3 months of goods and services imports line 5 4 International reserves remain adequate - sufficient to cover over 3 months of goods and services imports for most of the time 4 Jun-14 Oct-14 Feb-15 Jun-15 Oct-15 Feb-16 Source: NBG, BOG. سهرا Jun-16 Oct-16 Feb-17 Jun-17 Oct-17 Feb-18 Feb-16 Jun-18 Oct-18 Feb-19 reb-19 Jun-19 Oct-19 Feb-20 Jun-20 Jun-20 Oct-20 Oct-20 Feb-21 Jun-21 Oct-21 Feb-22 Jun-22 1 2 3 Central bank's interventions, net sales in US$ m NBG's net FX sales stood at $354.9m in 2021, while there was $31.6m net FX purchase in 1H22 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 0.0 080 0.0 100.0 24.8 40.5 55.7 60.0 Aug-20 60.0 Sep-20 145.0 Oct-20 204.6 Nov-20 175.8 Dec-20 49.8 Jan-21 80.0 Feb-21 40.0 Mar-21 44.4 Apr-21 83.7 May-21 0.0 Jun-21 ■9.3 Jul-21 3.7 Aug-21 29.8 Sep-21 60.0 Oct-21 2.0 Nov-21 -0.5 Dec-21 Jan-22 -0.7 Feb-22 -11.5- Mar-22 38.7 Apr-22 -3.4 May-22 -31.3 Jun-22 -23.4 Source: NBG Note: Negative sign means net FX purchase. 47#4830% 25% 20% 15% 10% 5% 0% -5% Feb-14 Jun-14 Oct-14 Feb-15 Source: NBG. Growing banking sector Corporate loans, % change y-o-y Loan book growth: corporate vs. retail (exc. FX effect) Banking sector corporate & retail loans to GDP Retail loans, % change y-o-y 100% 100% 30% ■Retail loans to GDP Corporate loans to GDP 25% 80% 80% 20.4% 20% 60% 15% 16.9% 10% 40% 60% 39% 33% 37% 36% 35% 33% 27%30% 40% 23% 20% 5% 17% 11% 12% 13% 20% 0% 17% 17% 18% 19% 21% 24%26%25%27%31% 20% 38%35%33%31% Jun-15 Oct-15 Feb-16 Jun-16 Oct-16 Feb-17 Jun-17 Oct-17 Feb-18 Jun-18 Oct-18 Feb-19 Jun-19 Oct-19 Feb-20 Jun-20 Oct-20 Feb-21 Jun-21 Oct-21 Feb-22 Jun-22 -5% 0% 2010 2011 2012 2013 2014 2015 2016 2017 Source: NBG, GeoStat. 2018 2019 2020 2021 1Q22 2Q22E 0% 48#49Dollarisation down, low NPLs Loan and deposit dollarisation Non-performing bank loans to total gross loans (2019-2020 average) Bank loan dollarisation Bank deposit dollarisation Lithuania 1.0% 75% 75% Czech Rep. 1.8% Estonia 1.8% 70% 70% Georgia 2.1% 65% 65% Hungary 2.7% Poland 3.7% 60% 60% Romania 4.0% Latvia 4.0% 57.9% 55% 55% Turkey 4.5% Belarus 4.7% 50% 50% Armenia 6.0% 48.4% Bulgaria 6.2% 45% 45% Bosnia & Herz. 6.8% Croatia 7.1% 40% 40% Feb-14 Jun-14 Oct-14 Feb-15 Jun-15 Oct-15 Feb-16 Jun-16 Oct-16 Feb-17 Jun-17 Oct-17 Feb-18 Jun-18 Oct-18 Feb-19 Jun-19 Oct-19 Feb-20 Jun-20 Oct-20 Feb-21 Jun-21 Oct-21 Feb-22 Jun-22 Moldova Russia 7.9% 8.5% Source: NBG. Source: IMF. 49#50Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY 2022 and 1H22 RESULTS APPENDICES: CORPORATE GOVERNANCE 50#51Strong institutional investor base TOP INSTITUTIONAL INVESTORS 30 June 2022 Shareholder name 1 JSC Georgia Capital* Ownership 19.90% STRUCTURE BY COUNTRY 30 June 2022 4% 2 Harding Loevner LP 3.77% 3 Van Eck Associates Corporation 3.54% 21% 40% 4 Fidelity Investments 3.49% 5 Dimensional Fund Advisors (DFA) LP 3.42% 6 GLG Partners LP 3.29% 29% 7 M&G Investment Management Ltd 3.17% 3% 2% 8 Vanguard Group Inc 2.88% 9 BlackRock Investment Management (UK) 2.17% I Unvested and unawarded shares for management and employees 10 Standard Life Investments 1.98% UK and Ireland Scandinavia ■Luxembourg USA Other** * JSC Georgia Capital will exercise its voting rights at the Group's general meetings in accordance with the votes cast by all other Group shareholders, as long as JSC Georgia Capital's percentage holding in Bank of Georgia Group PLC is greater than 9.9%. ** Includes the 19.9% shareholding of JSC Georgia Capital. 51#52Board of Directors - overseeing sustainable value creation 52 Mel Carvill, Independent Non-Executive Chairman Experience: formerly Chief Risk Officer, Head of Corporate Finance and M&A, and of Strategic Planning at the Generali Group; Senior Independent Director of Sanne Group plc; President of PPF Partners; Non-Executive Director at Home Credit N.V., Chair of Aviva Life UK. Hanna Loikkanen, Senior Independent Non-Executive Director Experience: Non-Executive Director of FinnFund, Non-Executive Director of VEF Ltd; formerly Non-Executive Director of PJSC Rosbank, Senior Executive at East Capital, FIM Group, Nordea Finance and SEB. Véronique McCarroll, Independent Non-Executive Director Experience: 30 years of experience in financial services; currently Deputy CEO at Orange Bank. Formerly Executive Director at Crédit Agricole CIB, Partner at McKinsey & Company, Oliver Wyman and Andersen/ Ernst & Young. Tamaz Georgadze, Independent Non-Executive Director Experience: Executive Director and founder of Raisin GmbH; formerly Partner at McKinsey & Company in Berlin and aide to the President of Georgia. Mariam Megvinetukhutsesi, Independent Non-Executive Director Experience: 20 years of experience in financial services; formerly Head of Georgia's Investors Council Secretariat, Deputy CEO at TBC Bank, banking appointments at the EBRD. Al Breach, Independent Non-Executive Director Experience: Executive Director and co-founder of Gemsstock Ltd, co- founder and Director of The Browser and Furka Advisors AG, and advisor to East Capital; formerly: Head of Research, Strategist & Economist at UBS Russia and CIS, economist at Goldman Sachs. Cecil Quillen, Independent Non-Executive Director Experience: Partner at Linklaters LLP and leader of the firm's U.S. securities practice, with nearly 30 years of experience working on a broad spectrum of securities and finance matters. Officer of the Securities Law Committee of the International Bar Association. Jonathan Muir, Independent Non-Executive Director Experience: CEO of LetterOne Holdings SA and of LetterOne Investment Holdings; formerly CFO and Vice President of Finance and Control of TNK-BP and Partner at Ernst & Young. Archil Gachechiladze, Chief Executive Officer Experience: with the Group since 2009; originally joined as Deputy CEO, Corporate Banking and has since held various roles including as CFO. Formerly CEO of Georgian Global Utilities (formerly part of BGEO Group PLC). Over 17 years of experience in the financial services.#53Diverse and experienced management team creating opportunities Archil Gachechiladze, Chief Executive Officer With the Group since 2009, serving in various senior positions, including as Deputy CEO/CB, Deputy CEO/IM, CFO of BGEO Group, Deputy CEO/CIB. Over 20 years of banking and financial services experience locally and internationally, including at Lehman Brothers Private Equity, Salford Equity Partners, KPMG, World Bank, EBRD. Holds an MBA with honors from Cornell University and is a CFA charterholder. Sulkhan Gvalia, Deputy CEO, Chief Financial Officer With the Group since 2004, serving in various senior positions, including as Chief Risk Officer and Head of Corporate Banking. Prior to joining the Group, he served as Deputy CEO of TbilUniversalBank. Holds a law degree from Tbilisi State University. 53 Eter (Etuna) Iremadze, Deputy CEO, Premium Banking With the Group since 2006, serving in various senior positions, including as Head of SOLO and Head of Blue Chip Corporate Banking Unit. Prior to becoming Head of SOLO, served as Head of Strategic Projects Department in Georgian Global Utilities (formerly part of BGEO Group). Holds an MBA from Grenoble Graduate School of Business. Mikheil Gomarteli, Deputy CEO, Mass Retail With the Group since 1997. Mikheil is a textbook professional growth story made possible in our Group - he developed his way from selling debit cards door-to-door to successfully leading our Retail Banking franchise for over ten years now. Holds an undergraduate degree in Economics from Tbilisi State University. David Chkonia, Deputy CEO, Chief Risk Officer (subject to regulatory approval) With the Group since 2021. Mr Chkonia will be appointed as Deputy CEO, Chief Risk Officer, subject to necessary regulatory approval. Held senior positions in local and international organisations, including TBC Bank, BlackRock and PIMCO. Holds a BSc from San Jose State University and an MBA from the Wharton School of the University of Pennsylvania. Levan Kulijanishvili, Deputy CEO, Operations With the Group since 1997. Held various senior positions - Deputy CEO/CFO, Head of Internal Audit, Head of Financial Monitoring, Head of Strategy and Planning, and Head of Financial Analysis. Holds an MBA from Grenoble Graduate School of Business. Zurab Kokosadze, Deputy CEO, Corporate and Investment Banking With the Group since 2003, serving in various senior positions, including as Head of Corporate Banking, Deputy Head of Corporate Banking, FMCG sector head. Holds an MBA from Grenoble Graduate School of Business. David Davitashvili, Deputy CEO, Data Analytics and Information Technology (subject to regulatory approval) With the Group since 2006. Mr Davitashvili will be appointed as Deputy CEO in charge of data analytics and information technology, subject to necessary regulatory approval. Held various senior positions, including as Deputy Chief Operating Officer and Head of Internal Audit. Holds an undergraduate and master's degrees in management and microeconomics from Tbilisi State University and an Executive MBA from Bayes Business School.#54Diverse and experienced management team creating opportunities 54 Ana Kostava, Chief Legal Officer With the Group since 2018. Prior to her recent appointment, Ms Kostava served as Chief Legal Officer of the Bank under the direct supervision of the Deputy CEO, Chief Risk Officer, since June 2020. Before joining the Bank, held various positions in local and international companies. Ms Kostava is an Associate Lecturer at Free University of Tbilisi. Holds an LLM from the University of Cambridge. Levan Kobakhidze, Chief Digital Officer With the Group since 2018. Prior to joining the Bank, held various positions, including as Chief Digital Officer at a telecommunications company and as head of business development at a venture capital firm. Holds an undergraduate and master's degrees from Tbilisi State University and an master's degree in global strategy and leadership from Hult International Business School. Nutsa Gogilashvili, Head of Customer Experience and HCM With the Group since 2016. Previously, Head of Strategic Processes of Corporate and Investment Banking and Head of Customer Experience Management at the Bank. Prior to joining the Group, held various senior positions in local and international financial institutions. Holds an MSc in Finance from Bayes Business School (formerly Cass) in London. Zurab Masurashvili, Head of SME Business Banking With the Group since 2015. Previously, Head of Express Business, Head of MSME Business, Head of Retail Business at the Bank. Prior to joining the Group, held several positions in international organisations - EBRD, the World Bank, GTZ, served as Deputy Chairman of the Board of Directors at Privat Bank. Holds a degree in Geology from Georgian Technical University. Levan Gomshiashvili, Chief Marketing Officer With the Group since 2019. Founder of HOLMES&WATSON, a creative agency, where he served as Account Manager for clients in banking and other sectors. Founder of Tbilisi School of Communication. Started his career at the Georgian Railway, covering advertising and project management. Holds an MSc in Management from the University of Edinburgh. ** Andro Ratiani, CEO of Digital Area With the Group since 2018. Previously, Head of Innovations at Bank of Georgia, Global Head of Product Management at IHS Markit. Has experience working in various global companies, including UBS AG Investment & Wealth Management Bank in New York, Wells Fargo. Holds an master's degree in technology management from Columbia University.#55Contents MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY 2022 and 1H22 RESULTS APPENDICES: FINANCIAL AND OPERATING INFORMATION 55#56Group income statement Change Change Change GEL thousands, unless otherwise noted Interest income Interest expense Net interest income Fee and commission income Fee and commission expense Net fee and commission income Net foreign currency gain Net other income Operating income Salaries and other employee benefits Administrative expenses Depreciation, amortisation and impairment Other operating expenses Operating expenses 2Q22 2Q21 1Q22 1H22 1H21 y-o-y 9-0-9 y-o-y 553,309 446,636 23.9% 521,294 6.1% 1,074,603 875,216 22.8% (272,139) (218,387) 24.6% (249,844) 8.9% (521,983) (434,635) 20.1% 281,170 228,249 23.2% 271,450 3.6% 552,620 440,581 25.4% 135,127 94,727 42.6% 106,673 26.7% 241,800 171,173 41.3% (54,062) (37,521) 44.1% (47,841) 13.0% (101,903) (65,317) 56.0% 81,065 57,206 41.7% 58,832 37.8% 139,897 105,856 32.2% 125,528 22,082 468.5% 64,484 94.7% 190,012 41,258 360.5% 7,087 27,438 -74.2% 983 621.0% 8,070 50,920 -84.2% 494,850 334,975 47.7% 395,749 25.0% 890,599 638,615 39.5% (95,351) (68,812) 38.6% (78,329) 21.7% (173,680) (129,035) 34.6% (37,420) (30,068) 24.5% (33,702) 11.0% (71,122) (53,631) 32.6% (27,536) (22,354) 23.2% (24,627) 11.8% (52,163) (44,915) 16.1% (592) (160,899) (584) 1.4% (1,697) -65.1% (2,289) (1,596) 43.4% (121,818) 32.1% (138,355) 16.3% (299,254) (229,177) 30.6% Profit/(loss) from associates 250 Operating income before cost of risk 334,201 (4,299) 208,858 NMF 60.0% 126 98.4% 376 (4,132) NMF 257,520 29.8% 591,721 405,306 46.0% Expected credit loss /impairment charge on loans to customers Expected credit loss /impairment charge on finance lease (23,285) 25,140 NMF (29,856) -22.0% (53,141) (3,096) NMF (896) (683) 31.2% (1,284) -30.2% (2,180) (1,614) 35.1% Other expected credit loss and impairment charge on other (1,730) (10,424) -83.4% 38,707 NMF 36,977 (25,374) NMF assets and provisions Cost of risk (25,911) 14,033 NMF 7,567 NMF (18,344) (30,084) -39.0% Net operating income before non-recurring items 308,290 222,891 38.3% 265,087 16.3% Net non-recurring items Profit before income tax Income tax expense Profit Profit attributable to: - shareholders of the Group - non-controlling interests Earnings per share (basic) Earnings per share (diluted) 232 (67) 308,522 222,824 NMF 38.5% 48 NMF 573,377 280 375,222 52.8% (50) NMF 265,135 16.4% 573,657 375,172 52.9% (33,036) 275,486 (20,654) 59.9% (24,563) 34.5% (57,599) (34,078) 69.0% 202,170 36.3% 240,572 14.5% 516,058 341,094 51.3% 274,268 201,239 36.3% 239,715 14.4% 513,983 339,454 51.4% 1,218 931 30.8% 857 42.1% 2,075 1,640 26.5% 5.81 4.21 38.0% 5.06 14.8% 10.87 7.08 53.5% 5.79 4.19 38.2% 5.00 15.8% 10.79 7.04 53.3% 56#57Group balance sheet GEL thousands, unless otherwise noted Cash and cash equivalents Amounts due from credit institutions Investment securities Loans to customers and finance lease receivables Accounts receivable and other loans Prepayments Inventories Right of use assets Investment property Property and equipment Goodwill Intangible assets Income tax assets Other assets Assets held for sale Jun-22 Jun-21 Change y-o-y Mar-22 Change q-o-q 2,834,950 1,719,058 64.9% 1,632,690 73.6% 1,766,529 3,213,917 2,035,487 -13.2% 1,978,568 -10.7% 2,149,725 49.5% 3,174,503 1.2% 16,299,630 14,789,371 10.2% 16,289,380 0.1% 3,479 2,475 40.6% 3,847 -9.6% 53,429 33,903 57.6% 47,277 13.0% 10,940 10,476 4.4% 10,698 2.3% 87,193 81,865 6.5% 85,420 2.1% 188,315 235,649 -20.1% 222,931 -15.5% 389,855 387,014 0.7% 384,828 1.3% 33,351 33,351 0.0% 33,351 0.0% 146,175 138,341 5.7% 145,177 0.7% 816 190 NMF 172 NMF 292,825 189,311 54.7% 215,125 36.1% Total assets Client deposits and notes 43,137 25,364,541 45,294 -4.8% 46,262 -6.8% 21,851,510 16.1% 24,270,229 4.5% Debt securities issued Amounts due to credit institutions Right of use liability 15,100,061 13,944,383 8.3% 14,517,253 4.0% 5,019,370 3,224,577 55.7% 4,676,861 7.3% 1,299,986 1,515,511 -14.2% 1,415,940 -8.2% 91,524 91,670 -0.2% 93,807 -2.4% Accruals and deferred income 77,948 54,626 42.7% 86,154 -9.5% Income tax liabilities 50,420 74,704 -32.5% 49,887 1.1% Other liabilities 292,585 132,678 120.5% 156,488 87.0% Total liabilities 21,931,894 19,038,149 15.2% 20,996,390 4.5% Share capital Additional paid-in capital 1,618 485,723 1,618 0.0% 1,618 0.0% 511,273 -5.0% 478,149 1.6% Treasury shares (62) (52) 19.2% (58) 6.9% Other reserves (48,922) 11,975 NMF (38,626) 26.7% Retained earnings 2,979,248 2,275,882 30.9% 2,818,269 5.7% Total equity attributable to shareholders of the Group 3,417,605 2,800,696 22.0% 3,259,352 4.9% Non-controlling interests 15,042 12,665 18.8% 14,487 3.8% Total equity 3,432,647 2,813,361 22.0% 3,273,839 4.9% Total liabilities and equity 25,364,541 21,851,510 16.1% 24,270,229 4.5% Book value per share 72.74 58.86 23.6% 68.77 5.8% 57#58BNB financial highlights INCOME STATEMENT HIGHLIGHTS Change Change Change 2Q22 2Q21 1Q22 1H22 1H21 GEL thousands, unless otherwise noted y-o-y 9-0-9 y-o-y Net interest income 10,773 9,752 10.5% 10,325 4.3% 21,098 18,099 16.6% Net fee and commission income Net foreign currency gain 2,842 1,622 75.2% 1,054 169.6% 3,896 3,192 22.1% 20,574 3.029 579.2% 11,960 72.0% 32,534 6,575 394.8% Net other income 1,417 53 NMF (3,225) NMF (1,808) (184) NMF Operating income 35,606 14,456 146.3% 20,114 77.0% 55,720 27,682 101.3% Operating expenses (12,575) (9,656) 30.2% (12,263) 2.5% (24,838) (17,998) 38.0% Operating income before cost of risk 23,031 4,800 379.8% Cost of risk Net non-recurring items Profit before income tax 2,206 1,061 107.9% 7,851 (26,367) (8) (277) -97.1% 25,229 5,584 351.8% (21) (18,537) 193.4% NMF -61.9% NMF 30,882 9,684 218.9% (24,161) 306 NMF (29) (343) -91.5% 6,692 9,647 -30.6% Income tax expense (1,288) Profit 23,941 (1,222) 4,362 5.4% 448.9% (1,288) (1,948) -33.9% (18,537) NMF 5,404 7,699 -29.8% BALANCE SHEET HIGHLIGHTS Jun-22 Jun-21 GEL thousands, unless otherwise noted Cash and cash equivalents 370,718 122,271 Amounts due from credit institutions 9,074 56,967 Change y-o-y 203.2% -84.1% Change Mar-22 9-0-9 218,316 69.8% 8,764 3.5% Investment securities 52,074 95,899 -45.7% 50,693 2.7% Loans to customers and finance lease receivables 507,654 657,473 -22.8% 649,218 -21.8% Other assets 46,167 45,624 1.2% 44,484 3.8% Total assets 985,687 978,234 0.8% 971,475 1.5% Client deposits and notes 644,899 493,355 30.7% 556,649 15.9% Amounts due to credit institutions 201,446 329,063 -38.8% 301,572 -33.2% Debt securities issued 11,362 6,583 72.6% 7,772 46.2% Other liabilities Total liabilities Total equity Total liabilities and equity 12,538 15,696 870,245 844,697 115,442 133,537 985,687 978,234 -20.1% 3.0% -13.6% 0.8% 11,171 12.2% 877,164 -0.8% 94,311 22.4% 971,475 1.5% 58#59Key ratios Profitability 2Q22 2Q21 1Q22 1H22 1H21 ROAA, annualised 4.5% 3.6% 4.1% 4.3% 3.1% ROAE, annualised 32.8% 29.4% 30.7% 31.8% 25.6% RB ROAE 31.4% 22.1% 18.0% 24.9% 21.5% CIB ROAE 30.3% 42.6% 63.5% 45.5% 33.6% Net interest margin, annualised 5.3% 4.7% 5.3% 5.3% 4.6% RB NIM 4.6% 4.1% 4.7% 4.7% 4.1% CIB NIM 5.4% 4.9% 5.4% 5.5% 4.6% Loan yield, annualised 11.4% 10.4% 11.1% 11.3% 10.4% RB Loan yield 12.3% 11.1% 11.9% 12.1% 11.1% CIB Loan yield 9.0% 8.5% 9.1% 9.1% 8.5% Liquid assets yield, annualised 4.4% 3.3% 4.3% 4.4% 3.2% Cost of funds, annualised 5.2% 4.5% 5.0% 5.1% 4.5% Cost of client deposits and notes, annualised 3.7% 3.5% 3.7% 3.7% 3.6% RB Cost of client deposits and notes 2.6% 2.6% 2.6% 2.6% 2.7% CIB Cost of client deposits and notes 6.2% 5.0% 6.3% 6.2% 5.3% Cost of amounts owed to credit institutions, annualised 9.4% 6.9% 8.2% 8.8% 6.6% Cost of debt securities issued 6.9% 7.0% 7.0% 6.9% 7.0% Operating leverage, y-o-y 15.6% 23.9% 1.5% 8.9% 15.7% Operating leverage, q-o-q 8.7% -3.1% 12.6% 0.0% 0.0% Efficiency Cost income RB Cost/income CIB Cost/income * For a description of Key Ratios, refer to slide 62 32.5% 36.4% 35.0% 33.6% 35.9% 36.6% 46.0% 41.9% 38.9% 43.9% 21.6% 15.9% 16.7% 19.2% 17.4% 59#60Key ratios 2Q22 2Q21 1Q22 1H22 1H21 Liquidity NBG liquidity coverage ratio (minimum requirement 100%) 113.5% 124.5% 116.2% 113.5% 124.5% Liquid assets to total liabilities 35.6% 31.0% 32.3% 35.6% 31.0% Net loans to client deposits and notes 107.9% 106.1% 112.2% 107.9% 106.1% Net loans to client deposits and notes + DFIs 95.5% 93.2% 97.9% 95.5% 93.2% Leverage (times) 6.4 6.8 6.4 6.4 6.8 Asset Quality: NPLS (GEL thousands) 436,889 524,964 NPLs to gross loans to clients 2.6% 3.5% 424,405 2.5% 436,889 524,964 2.6% 3.5% NPL coverage ratio 89.6% 73.1% 97.3% 89.6% 73.1% NPL coverage ratio, adjusted for discounted value of collateral 138.0% 122.2% 153.0% 138.0% 122.2% Cost of credit risk, annualised 0.6% -0.6% 0.8% 0.7% 0.1% RB Cost of credit risk 1.2% 0.3% 1.9% 1.5% 0.8% CIB Cost of credit risk -0.5% -2.4% -3.3% -1.9% -1.3% Capital Adequacy: NBG (Basel III) CET1 capital adequacy ratio 14.0% 12.5% 13.7% 14.0% 12.5% Minimum regulatory requirement 11.7% 11.1% 11.8% 11.7% 11.1% NBG (Basel III) Tier I capital adequacy ratio 16.4% 14.4% 15.4% 16.4% 14.4% Minimum regulatory requirement NBG (Basel III) Total capital adequacy ratio Minimum regulatory requirement 14.0% 13.4% 14.1% 14.0% 13.4% 19.8% 19.1% 19.7% 19.8% 19.1% 17.5% 17.7% 17.6% 17.5% 17.7% FX rates: 2Q22 2Q21 1Q22 GEL/US$ exchange rate (period-end) GEL/GBP exchange rate (period-end) 2.9289 3.1603 3.1013 3.5662 4.3754 4.0732 * For a description of Key Ratios, refer to slide 62 Shares outstanding Ordinary shares Treasury shares Total shares outstanding 46,983,572 47,578,565 47,396,266 2,185,856 1,590,863 1,773,162 49,169,428 49,169,428 49,169,428 60#61Additional operating data Customers 2Q22 2Q21 1Q22 1H22 1H21 Number of new active RB customers 81,754 43,250 57,743 139,497 78,004 Full time employees (FTE), of which: 7,900 7,633 7,908 7,900 7,633 Full time employees, BOG standalone 6,225 6,050 6,261 6,225 6,050 Full time employees, BNB 642 543 589 642 543 Full time employees, other Number of branches Number of ATMs Cards Number of cards issued Number of cards outstanding Express Pay terminals 1,033 1,040 1,058 1,033 1,040 212 211 211 212 211 999 972 990 999 972 282,833 213,185 276,023 2,477,936 2,079,775 2,342,189 558,856 2,477,936 2,079,775 404,732 Number of Express Pay terminals 3,161 Number of transactions via Express Pay terminals 21,356,749 Volume of transactions via Express Pay terminals (GEL thousands) 3,888,488 3,141 20,052,212 2,847,236 3,122 19,090,517 3,112,873 3,161 3,141 40,447,266 36,836,241 7,001,361 5,169,837 POS terminals Number of desks Number of contracted merchants Number of POS terminals 28,684 24,537 27,706 28,684 24,537 18,212 15,839 17,794 18,212 15,839 41,377 33,772 39,086 41,377 33,772 61#62Definitions 62 " " Cost of funds Interest expense of the period divided by monthly average interest bearing liabilities; Cost of deposits Interest expense on client deposits and notes of the period divided by monthly average client deposits and notes Cost of credit risk Expected loss on loans to customers and finance lease receivables for the period divided by monthly average gross loans to customers and finance lease receivables over the same period; Cost to income ratio Operating expenses divided by operating income; Interest bearing liabilities Amounts owed to credit institutions, client deposits and notes, and debt securities issued; Interest earning assets (excluding cash) Amounts due from credit institutions, investment securities (but excluding corporate shares) and net loans to customers and finance lease receivables; Leverage (times) Total liabilities divided by total equity; Liquid assets Cash and cash equivalents, amounts due from credit institutions and investment securities; Liquidity coverage ratio (LCR) High quality liquid assets (as defined by the NBG) divided by net cash outflows over the next 30 days (as defined by the NBG); Loan yield Interest income from loans to customers and finance lease receivables divided by monthly average gross loans to customers and finance lease receivables; NBG (Basel III) Common Equity Tier I capital adequacy ratio Common Equity Tier I capital divided by total risk weighted assets, both calculated in accordance with the requirements of the National Bank of Georgia; NBG (Basel III) Tier I capital adequacy ratio Tier I capital divided by total risk weighted assets, both calculated in accordance with the requirements of the National Bank of Georgia; NBG (Basel III) Total capital adequacy ratio Total regulatory capital divided by total risk weighted assets, both calculated in accordance with the requirements of the National Bank of Georgia; Net interest margin (NIM) Net interest income of the period divided by monthly average interest earning assets excluding cash for the same period; Net stable funding ratio (NSFR) available amount of stable funding (as defined by the NBG) divided by the required amount of stable funding (as defined by the NBG) Non-performing loans (NPLs) The principal and interest on loans overdue for more than 90 days and any additional potential losses estimated by management; NPL coverage ratio Allowance for expected credit loss of loans and finance lease receivables divided by NPLs; NPL coverage ratio adjusted for discounted value of collateral Allowance for expected credit loss of loans and finance lease receivables divided by NPLs (discounted value of collateral is added back to allowance for expected credit loss); Operating leverage Percentage change in operating income less percentage change in operating expenses; Return on average total assets (ROAA) Profit for the period divided by monthly average total assets for the same period; Return on average total equity (ROAE) Profit for the period attributable to shareholders of the Group divided by monthly average equity attributable to shareholders of the Group for the same period; NMF Not meaningful#63Company information Registered Address 42 Brook Street London W1K 5DB United Kingdom Registered under number 10917019 in England and Wales Secretary Link Company Matters Limited 65 Gresham Street London EC2V 7NQ United Kingdom Stock Listing London Stock Exchange PLC's Main Market for listed securities Ticker: "BGEO.LN" Contact Information Bank of Georgia Group PLC Investor Relations Telephone: +44 (0) 203 178 4052; +995 322 444444 (7515) E-mail: [email protected] www.bankofgeorgiagroup.com Auditors Ernst & Young LLP 25 Churchill Place Canary Wharf London E14 5EY United Kingdom Registrar Computershare Investor Services PLC The Pavilions Bridgwater Road Bristol BS13 8AE United Kingdom Please note that Investor Centre is a free, secure online service run by our Registrar, Computershare, giving you convenient access to information on your shareholdings. Investor Centre Web Address - www.investorcentre.co.uk Investor Centre Shareholder Helpline - +44 (0)370 873 5866 Share price information Shareholders can access both the latest and historical prices via the website, www.bankofgeorgiagroup.com 63