#1BANK OF GEORGIA GROUP PLC RESULTS CALL PRESENTATION 4Q21 and FY21 Financial Results 22 February 2022 www.bankofgeorgiagroup.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: macroeconomic risk, including currency fluctuations and depreciation of the Lari; regional and domestic instability; loan portfolio quality risk; regulatory risk; liquidity risk; capital risk; financial crime risk; cyber-security, information security and data privacy risk; operational risk; COVID-19 pandemic impact risk; climate change risk; and other key factors that indicated could adversely affect our business and financial performance, which are contained elsewhere in this presentation and in our 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 2020 and in 2Q21 and 1H21 results announcement. No part of this presentation 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 presentation should be construed as a profit forecast. 2#3CONTENTS COVID-19 PANDEMIC AND MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY Q44921 4Q21 AND FY21 RESULTS 3#4COVID-19 STATISTICS IN GEORGIA COVID-19 STATISTICS IN GEORGIA at 12:00, 21 February 2022 2,000 COVID-19 STATISTICS IN GEORGIA, 000' PERSONS Source: NCDC 1,553,668 129,978 1,407,776 43.2% Confirmed cases Active cases Recovered Of adult population fully vaccinated 1,500 1,000 Total cases (LHS) Total recoveries (LHS) 500 O Feb-20 Mar-20 Apr-20 May-20 Jun-20 Daily new cases (RHS) Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Jan-22 Feb-22 30 10,000 25 9,000 8,000 5 250 so 7,000 6,000 15 5,000 4,000 10 3,000 2,000 O Source: NCDC at 12:00, 21 February 2022 COVID-19 ACTIVE CASES PER 100,000 PERSONS Source: Johns Hopkins, Worldometers at 12:00, 21 February 2022 64 1,000 14 19 53 80 165 299 370 556 875 1,4271,5551,565 1,821 India Uzbekistan Saudi Arabia Belarus Kazakhstan Azerbaijan Iran Armenia Turkey Israel Poland 4,335 3,498 Ukraine Russia Georgia Germany Estonia 9,299 4#5SOLID ECONOMIC GROWTH IN 2021 REAL GDP GROWTH IN 2021 EXCEEDING 2019 LEVEL Source: Geostat 70% Real GDP growth in 2021: 10.6% y-o-y 3.1% compared with 2019 60% 44.8% 50% 40% 30% 20% 25.8% 20.8% 18.7% 8.8% 9.9% 10.3% 12.0% 9.6% 9.5% 6.9% 6.9% 10% 4.0% -3.0% 0% -7.0% 1.2% 3.8% 4.5% 6.1% 2.7% 3.4% 0.9% -10% -5.1% -11.5% -20% -30% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Real GDP growth, 2021 vs. 2020 Real GDP growth, 2021 vs. 2019 GDP contracted by 6.8% in 2020 and by 4.1% in 1Q21, mainly due to the COVID-19-related restrictions As restrictions were gradually lifted, the economy has gained momentum since 2Q21, with real GDP up 28.9% y-o-y in 2Q21, up 9.1% y-o-y in 3Q21 and up 9.5% y-o-y in 4Q21 Estimated real GDP growth was 10.6% y-o-y for full year 2021, exceeding the 2019 pre-pandemic level by 3.1% Robust growth in remittances and exports, and a faster than expected rebound in tourism, together with fiscal stimulus and accelerated banking sector lending, have supported the recovery In 2021: Exports were up 26.9% y-o-y and up 11.7% compared with 2019 Remittances were up 24.6% y-o-y and up 35.6% compared with 2019 Tourism revenues were at 38.1% of the 2019 level, with tourism arrivals accelerating since April 2021 5#6TRACKING GEORGIA'S ECONOMIC RECOVERY EXPORTS, REMITTANCES, IMPORTS AND TOURISM REVENUES SHOWING STRONG REBOUND Remittances Exports 150% 120% 90% 60% 33.2% 28.8% 30% Imports Trade deficit 2021 vs. 2020 2021 vs. 2019 26.9% 11.7% 25.1% 5.8% 23.8% 1.9% 24.6% 35.6% 129.8% -61.9% Exports Imports Trade deficit Remittances Tourism 26.3% 24.6% 5.9% 14.9% 0% 6.7% 7.2% -30% -60% % change, 2021 vs. 2020 ――% change, 2021 vs. 2019 6 Source: Geostat, NBG, GNTA Tourism revenues, 2021 as % of 2019 level 58.0%#7Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 14% 12% 10% 8% 6% 4% 2% 0% -2% Jan-14 May-14 Sep-14 Jan-15 May-15 Oct-15 Feb-16 Jun-16 Oct-16 Feb-17 Jul-17 Nov-17 Headline inflation MONETARY POLICY RATE ANNUAL INFLATION FISCAL AND MONETARY POLICY Mar-18 Jul-18 Nov-18 Apr-19 Aug-19 Dec-19 Apr-20 Aug-20 Jan-21 May-21 Sep-21 Jan-22 © Core inflation 11% NBG increased policy rate by 250bps to 10.5% in 2021 (+50bps in March, +100bps in April, +50bps in August and 3.5 10.5% 11% 3.0 +50bps in December) 10% 10% 2.5 9% 9% 2.0 8% 8% 1.5 7% 7% 1.0 0.5 6% 6% 0.0 5% 5% Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Jan-14 May-14 Sep-14 Source: NBG Jan-15 May-15 Oct-15 Feb-16 Jun-16 Oct-16 Feb-17 Jul-17 Source: Geostat 13.9% 14% 12% 130 10% 120 8% 110 6% 100 5.6% 4% 90 2% 0% 80 -2% 70 Jan-14 Apr-14 Aug-14 Nov-14 Mar-15 Jun-15 Oct-15 Jan-16 May-16 Real effective exchange rate INTERNATIONAL RESERVES 4.0 International reserves at US$ 4.1bn in Jan-22 Nov-17 Mar-18 Gross international reserves, US$ mn Jul-18 Jul-18 Nov-18 Nov-18 Apr-19 Apr-19 Aug-19 Dec-19 Dec-19 Apr-20 Apr-20 Aug-20 Aug-20 Jan-21 May-21 Sep-21 Jan-22 Aug-16 Dec-16 Apr-17 Jul-17 NOMINAL AND REAL EFFECTIVE EXCHANGE RATE (JAN2014=100) Nov-17 Feb-18 Jun-18 Sep-18 Jan-19 Apr-19 Aug-19 Dec-19 Mar-20 Jul-20 Oct-20 Feb-21 May-21 Sep-21 Dec-21 Nominal effective exchange rate Source: NBG Source: NBG 130 120 +17.9% y/y 110 +20.4% y/y 70 08 06 100 7#8-8% -4% -2% 0% 10% 12% GEORGIA'S ECONOMIC OUTLOOK IN 2022 GEORGIA'S ECONOMIC GROWTH FORECAST Source: Geostat, Galt & Taggart 7.4% 8% 6.4% 6.2% 6% 4% 2.4% 2% -6% -3.7% 2008 2009 2010 2011 2012 2013 2014 2015 2016 4.8% 4.8% 5.0% 4.4% 3.6% 3.0% 2.9% 2017 -6.8% 2020 2021E 2022F 5.0% 10.6% Our brokerage and investment arm, Galt & Taggart, forecasts a 5.0% real GDP growth in 2022, driven by a continued recovery in tourism Downside risks to growth are the ongoing COVID-19 pandemic and regional instability 8#9CONTENTS COVID-19 PANDEMIC AND MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY Q921 4Q21 AND FY21 RESULTS#10BANK OF GEORGIA GROUP AT A GLANCE BANK OF GEORGIA GROUP PLC RETAIL BANKING Mass Retail SOLO MSME CORPORATE AND INVESTMENT BANKING Leader in payments and financial mobile app 51% of total POS payment transactions executed in BOG POS terminals c.11.4 mln transactions executed in mobile app per month, up 76% y-o-y 96% of transactions of individuals executed through digital channels Strongest retail banking franchise 40% market share in deposits of individuals* ☐ 39% market share in loans to individuals* Most trusted bank and top of mind bank in Georgia** NPS of 55% in December 2021*** Sustainable high profitability ROAE of 20%+ over the last five years (pre-COVID-19) ROAE of 20%+ for the seventh consecutive quarter during the pandemic * Based on data published by the National Bank of Georgia as at 31 December 2021 **Based on autumn 2021 external research by IPM Georgia *** Based on December 2021 external research by IPM Georgia 10 10#11STRATEGIC FOCUS BANK OF THE FUTURE CUSTOMER SATISFACTION DATA-DRIVEN ORGANISATION Mobile app Payments Loyalty STRONG FRANCHISE PROFITABILITY EMPLOYEE EMPOWERMENT 11#12GEORGIA'S MOST POPULAR FINANCIAL MOBILE APP MBANK/IBANK STATISTICS* Number of active users** THOUSANDS +21.2% MILLIONS +10.8% Number of transactions +71.9% 9:41 Operations +17.4% Categories 35.4 30.2 921 26.3 Payments Transfer to Own Accounts 22.2 20.6 831 787 795 760 Payments 34.3 29.1 25.3 19.5 21.2 1.1 0.9 1.0 1.0 1.1 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 4Q20 1Q21 2Q21 3Q21 4Q21 iBank mBank Daily active 44.2% users/monthly active users Dec-21 NEXT STEP: BUILDING THE SUPER APP * Information on this slide depicts the usage of internet and mobile banking platforms by individual customers ** Active user - at least one login in the past three months 9:41 Search Total Available Amount 4,652.230 Visa Gold 2,744.00 0000 PLUS Point 8,744 Deposits and Liabilities Lubines 9,744.00€ VISA M 26,744 Deposts 7,060.000 12 c.11.4mln Transactions per month 86.0% Customer Satisfaction Score ANDROID APP ON Google play 4.8 Download on the App Store 4.8#13STRONG TRANSACTIONS OFFLOADING TO DIGITAL CHANNELS* NUMBER OF TRANSACTIONS 13 MILLIONS Share of 93.5% 94.2% 96.0% 95.1% 96.1% 95.9% 96.2% 96.5% 96.0% digital transactions +34.2% 69.6 0.1 61.7 2.8 57:7 Q.1 10.2 52.5 51.9 51.9 2.2 0.1 46.8 0.1 0.1 48.3 2.2 9.7 3.4 2.5 2.0 0.1 9.1 0.1 8.7 2.7 35.8 8.5 8.2 20 21.1 30.3% 7.3 7.4 0.1 19.6 31.7% 14 20.1 34.7% 6.1 22.5 43.3% 21.0 40.5% 16.8 34.7% 27.4 52.3% 22.9 49.0% 13.8 38.7% 18.3 35.2% 20.6 39.7% 22.2 45.9% 26.3 45.6% 30.2 48.9% 35.4 50.8% 1 12.8 24.4% 13.6 29.0% 14.3 40.0% 4Q19 1Q20 2Q20 iBank/mBank 3Q20 4Q20 1Q21 Express Pay terminals ATMs 2Q21 Branches Other ☐ Strong presence in Georgia with our self-service Express Pay terminals 3Q21 Continuous migration of customers' activity to mBank/iBank from Express Pay terminals - c.26% of customers' activity migrated to mBank/iBank during the past two years Information on this slide depicts the usage of channels by individual customers 4Q21 ** Includes representative offices of the Wealth Management business, which was reclassified from Corporate and Investment Banking to the Retail Banking segment in 3Q21 *** Active user - at least one login in the past three months 3,134 Express Pay terminals +3.8% y-o-y +0.1% q-o-q 211 Branches** Flat y-o-y -0.5% q-0-9 921k mBank/iBank active users*** +21.2% y-o-y +10.8% q-o-q 989 ATMs +3.0% y-o-y +0.4% q-o-q#14140 COVID-19 pandemic 120 impact 100 80 60 40 42° 20 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Numbers of activated products * Mainly comprises cards, deposits and loans offloading to digital channels SIGNIFICANT UPSIDE IN PRODUCT OFFLOADING TO DIGITAL CHANNELS HAVING ACHIEVED HIGH TRANSACTIONS OFFLOADING RATE TO DIGITAL CHANNELS, OUR AIM NOW IS TO INCREASE PRODUCT OFFLOADING RATE PRODUCT OFFLOADING* THOUSANDS 14 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Offloading rate Oct-21 Nov-21 131.4 70% 60% 50% 40% 30% 20% 10% 0% Dec-21 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 digital consumer lending process launched at the end of June 2021 Redesigned deposit activation process launched at the end of 2021 c.30% Product c.36% offloading rate Dec-21 Planned product offloading rate by Jun-22#15REMITTANCES AND POTENTIAL IN GEORGIAN EMIGRANTS MARKET POTENTIAL c.1.3 mln NUMBER OF RECEIVED REMITTANCES AT BOG THROUGH DIGITAL CHANNELS THOUSANDS 300 60% Georgians living abroad in need of daily banking services 49% 46% 250 42% 44% 50% New functionality 200 added in mBank and iBank 38% 35% 32% 40% US$ 2.3 bln Transferred in 2021 150 30% 100 11% 20% 50 3% 10% +24.6% y-o-y 0% c.350 k Received remittances 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 Offloading rate Customers with high potential for loans and deposits* We expect to gain 35%-40% of the potential market in the medium- term BOG MARKET SHARE IN TOTAL REMITTANCE INFLOWS** 36% COVID-19 pandemic impact 35% 35% 35% 32% 32% 32% 31% 27% * More than three transfers in the last 12 months 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 ** Based on the National Bank of Georgia and Bank of Georgia data 15#16PAYMENTS AS A DAILY TOUCHPOINT WITH CUSTOMERS NUMBER OF PAYMENT VOLUME OF PAYMENT TRANSACTIONS TRANSACTIONS IN BOG TERMINALS IN BOG TERMINALS MILLIONS +50.2% GEL MILLIONS +62.9% +63.7% +7.0% 4,371 150 100 45 42 2,671 27 +86.9% +9.1% 1,386 1,270 742 2020 2021 4Q20 3Q21 4Q21 2020 2021 4Q20 3Q21 4Q21 51% Share by number of POS payment transactions in BOG's POS terminals | 2021* +3ppts YoY 49% Share by volume of POS payment transactions in BOG's POS terminals | 2021* +2ppts YoY *Based on the National Bank of Georgia and Bank of Georgia data ** Active individual customer - an individual who used the Bank's any channel at least once, or performed at least one debit transaction, or was a payroll customer, or had at least one active credit product, or had any type of deposit with a balance above a certain threshold during the last three months 16 c.39k Multifunctional POS terminals +41.7% y-o-y#17FULL DIGITAL EXPERIENCE FOR OUR BUSINESS CUSTOMERS BUSINESS MBANK/IBANK STATISTICS* Number of active users ** THOUSANDS +32.0% +6.2% 48 45 41 38 36 17 Number of transactions Transactions offloading rate MILLIONS +44.3% +19.5% 97.4% 97.1% 3.6 96.7% 96.7% 96.5% 3.0 2.5 2.6 24 2.1 4Q20 1Q21 2Q21 3Q21 4Q21 4Q20 1Q21 2Q21 3Q21 4Q21 4Q20 1Q21 2Q21 3Q21 4Q21 -II 이 1,094k Transactions per month 72.9% Customer Satisfaction Score * Information on this slide depicts the usage of internet and mobile banking platforms by legal entities **Active user - at least one login in the past three months 1124347437.080 Financial mobile application launched in 1Q21 104k+ Transactions per month 23699.00 0000 KYLATE 78.7% 00 30108 Customer Satisfaction Score#18CUSTOMER SATISFACTION Engaging with customers proactively and responding in real time FOCUS ON INCREASING CUSTOMER SATISFACTION BY: MEDALLIA 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 experiences NPS* 42% 39% 38% 37% 33% 33% salesforce 27% 34% COVID-19 pandemic impact 49% 47% 46% 43% 18 55% 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 *Based on external research by IPM Georgia ** NPS of all major banks decreased due to Monetary Policy Rate hike#19EMPLOYEE EMPOWERMENT Re-design of employee experiences New talent development strategy Employees feel more engaged and enabled 71% 2020 73% High-Performing Organisations Benchmark 73% 2021 67% Banking Industry Benchmark Based on the KORN FERRY survey High-trust environment Values-based organisation ENPS 73% High-Performing 58% 60% 61% Organisations Benchmark 46% 69% 2020 74% 2021 68% Banking Industry Benchmark Nov-19 Nov-20 Apr-21 Nov-21 19#20DATA-DRIVEN ORGANISATION 127 70% Data models running online, covering different business processes Automation rate in the retail lending process in 2021 40% Contribution to sales, powered by data- driven models in 2021 KEY DATA-RELATED INITIATIVES DURING 2021 Implementing non-financial recommender engine Running data and Al trainings for middle management Improving analytics for business customers Predicting and improving NPS with data-driven models Improving natural language understanding capabilities Improving customer churn analytics 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 20#21CONTENTS COVID-19 PANDEMIC AND MACROECONOMIC HIGHLIGHTS GROUP OVERVIEW AND STRATEGY 4Q21 AND FY21 RESULTS 21#224Q21 RESULTS HIGHLIGHTS 22 22 Outstanding profitability Strong interest and F&C income generation Resilient loan portfolio quality and high cost efficiencies ROAE Operating income 4Q21 26.4% 4Q21 +26.4% y-o-y +9.0% 9-0-9 GEL 379mln Cost of credit risk 4Q21 -0.2% Strong portfolio growth Loan growth 31 Dec 2021 GEL 16.2bln +13.9% y-o-y* +3.8% q-o-q* Strong capital and liquidity positions CET 1 capital 31 Dec 2021 13.2% Minimum requirement 11.5% Net profit 4Q21 GEL 201mln +52.2% y-o-y +8.3% q-o-q +36.5% y-o-y +2.6% 9-o-q Net F&C income 4Q21 Cost to income 4Q21 GEL 64mln 39.8% * Growth on a constant currency basis was 19.8% y-o-y and 4.9% q-o-q ** Growth on a constant currency basis was 12.5% y-o-y and 6.3% q-o-q Deposits growth 31 Dec 2021 GEL 14.Obln +0.1% y-o-y +5.4% 9-0-9 ** Liquidity coverage 31 Dec 2021 124.0% Minimum requirement 100%#23STRONG PROFITABILITY NOTWITHSTANDING THE PANDEMIC 23 23 OUTSTANDING QUARTERLY PERFORMANCE Strong balance sheet growth with better than expected levels of lending in the consumer, micro and SME portfolios Strong operating income performance. Net interest income up 11.0% q-o-q, coupled with strong net fee and commission income generation, up 2.6% q-o-q, on the back of a strong performance in our settlement operations Net interest margin of 5.3%, up 30 basis points q-o-q TRACK RECORD OF STRONG PROFITABILITY 26.0% 21.8% 21.3% 21.5% 20% 29.4% 26.4% 25.7% Cost to income ratio of 39.8%, up from 36.8% in 3Q21, mainly driven by strong business growth, and increased investments in IT- related resources, digitalisation, and marketing Lending portfolio performing well. Annualised cost of credit risk ratio was a net gain of 0.2% in 4Q21. The non-performing loans ratio improved to 2.4% from 2.6% in 3Q21 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 Robust capital adequacy ratios, comfortably above the increased minimum regulatory requirements. We no longer use the capital buffers previously released by the NBG Superior levels of profitability. Despite a still challenging operating environment, delivering ROAE of 26.4% in 4Q21, the seventh consecutive quarter of delivering profitability above 20% during the pandemic -18.6%#24STRONG UNDERLYING PERFORMANCE OPERATING INCOME GEL MILLIONS +25.2% NET NON-INTEREST INCOME GEL MILLIONS +31.5% 412 +26.4% 1,366 +10.9% +9.0% 70 313 1,091 412 30% +4.4% 379 348 48 109 313 29% 300 105 30% 109 29% 99 105 109 98 98 33% 11 9 25 954 70% 33 34 778 71% 232 202 67% 243 70% 270 71% 26 166 62 47 49 64 2020 2020 2021 4Q20 3Q21 4Q21 Net non-interest income Net interest income 2021 4Q20 3Q21 4Q21 Net other income Net foreign currency gains Net fee and commission income Strong net interest income and net fee and commission income generation driving robust top-line performance 24#25NET INTEREST MARGIN NET INTEREST MARGIN 4.6% 4.9% 1 I 5.3% 5.0% 4.7% 4.5% 4.4% LOAN YIELD, COST OF FUNDS, COST OF DEPOSITS 10.5% 10.6% 10.4% 10.4% 10.4% 10.6% 11.0% 4.7% 4.6% 4.6% 4.5% 3.6% 3.6% 4.5% 4.7% 4.8% 3.8% 3.8% 3.5% 3.6% 3.5% 2020 2021 4Q20 1Q21 2Q21 3Q21 4Q21 2020 2021 4Q20 1Q21 2Q21 3Q21 4Q21 Loan yield Cost of funds Cost of client deposits and notes NIM UP IN 4Q21 DUE TO Increase in loan yields and successful deployment of excess liquidity during the second and third quarters of 2021 on the back of a rebound in economic activity in 2021 NIM OUTLOOK Broadly stable margin going forward 25#26FOCUS ON EFFICIENCY AND COST CONTROL COST TO INCOME RATIO OPERATING EXPENSES 39.7% 39.6% 39.8% GEL MILLIONS 37.2% 36.8% +17.4% 2020 2021 4Q20 3Q21 4Q21 Continuing investments in IT-related resources, digitalisation and marketing, in line with strategic priorities, while maintaining focus on efficiency and cost control 508 +26.9% 4 433 5 94 +17.8% 83 151 130 119 106 122 128 222 1 25 44 21 32 281 240 64 72 81 The impact of cost optimisation measures that were initiated in 2Q20 has been reflected in subsequent quarters c.35% Medium-term guidance 2020 2021 4Q20 3Q21 4Q21 Other operating expenses Administrative expenses Depreciation, amortisation and impairment Salaries and other employee benefits 26#27RESILIENT LOAN PORTFOLIO COST OF CREDIT RISK RATIO 2.2% Entering the COVID-19 environment with a de-risked banking 1.6% sector 0.9% LOAN PORTFOLIO QUALITY NPL coverage ECL provision created for the full economic cycle in 1Q20 92.7% 90.5% 80.9% 76.3% 95.5% NPL coverage adjusted for collateral value 130.6% 129.9% 139.6% 128.8% 147.7% 1.8% 3.8% 3.3% 3.7% 2.4% 2.1% 546 395 318 301 253 0.0% 2017 2018 2019 2020 2021 Dec-17 Dec-18 Dec-19 INPLS, GEL millions Dec-20 Dec-21 NPLs to gross loans 27#28STRONG LOAN AND DEPOSIT PORTFOLIO GROWTH LOAN PORTFOLIO GEL MILLIONS DEPOSIT PORTFOLIO GEL MILLIONS +13.9% +19.8% 16,169 14,020 +0.1% +12.5% 14,038 14,192 11,931 9,398 10,077 55% 8,820 59% 8,134 8,389 59% 6,985 5,800 62% 61% 61% 8,500 8,612 69% 6,986 5,488 67% 7,349 45% 4,946 5,804 41% 5,521 39% 3,598 38% 41% 5,426 39% 2,646 33% 3,090 31% Dec-18 Dec-19 Dec-20 Dec-21 Dec-18 Dec-19 Dec-20 Dec-21 ■Net loans, GEL Net loans, FC Client deposits and notes, FC Client deposits and notes, GEL Growth on a constant currency basis 28#29STRONG LIQUIDITY AND FUNDING POSITIONS LIQUIDITY COVERAGE AND NET STABLE FUNDING RATIOS JSC Bank of Georgia standalone (Basel III liquidity) NET LOANS TO CUSTOMER FUNDS AND DFIs 136.7% 138.6% 137.5% 133.6% 118.4% 132.5% 132.5% 115.5% 115.2% 124.0% 120.1% 103.2% 101.2% 99.6% 100.0% 89.4% Dec-18 Dec-19 Dec-20 Dec-21 Dec-18 Liquidiy coverage ratio Net stable funding ratio Dec-19 Dec-20 Net loans to customer funds Net loans to customer funds and DFIs Excess liquidity maintained for risk mitigation purposes, on the back of the COVID-19 crisis, successfully deployed during the second and third quarters of 2021 Strong support from International Financial Institutions Dec-21 29#30STRONG CAPITAL ADEQUACY POSITION 30 NBG'S COVID-19 RESPONSE AND CURRENT UPDATE Release of capital buffers: In April 2020, as part of its updated supervisory plan in response to the COVID-19 pandemic, the NBG released Pillar 2 and conservation buffers, reducing the minimum regulatory capital requirements at the time Capital distribution: During the period that banks partially or fully used the released buffers, banks could not distribute capital in any form General COVID-19-related loan loss provision: The Bank recorded c.GEL 400 million general provision (c.3.3% of the Bank's lending portfolio) under the Bank's local regulatory accounting basis in March 2020, reflecting the NBG's expectations of estimated credit losses on the Bank's lending book for the full economic cycle Subsequently, the NBG has announced a released capital buffers rebuild plan and has updated the timeline for the phase-in of additional Basel III capital requirements for the banking sector Rebuild of capital buffers: As a result of robust operating performance and strong internal capital generation, the Bank has confirmed to the NBG that since May 2021, it no longer uses or expects to use any of the Pillar 2 or conservation buffers that were waived in 2020. Consequently, there is no longer any regulatory restriction for Bank of Georgia on making any capital distributions Capital distribution: In August 2021, the Group declared an interim dividend of GEL 1.48 per ordinary share for the period ended 30 June 2021, paid to shareholders on 5 November 2021. The Board intends to recommended a final dividend for 2021 of 2.33 GEL per ordinary payable in British Pounds Sterling at the prevailing rate. This will make a total dividend paid in respect of the Group's 2021 earnings of GEL 3.81 per share. In addition, the Board aims to implement a share buyback and cancellation programme CAPITAL ADEQUACY RATIOS 18.1% 18.6% 19.1% 19.2% 19.3% 17.4% 17.3% 17.6% 15.3% 13.6% 13.3% 11.5% 10.6% 12.0% 12.0% 9.9% 9.9% 12.4% 14.4% 14.6% 12.8% 12.5% 15.0% 13.2% 11.2% 10.4% 8.3% Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 ■CET1 Capital Adequacy Ratio ■Tier I Capital Adequacy Ratio Total Capital Adequacy Ratio MINIMUM REGULATORY REQUIREMENTS 17.1% 17.7% 17.3% 17.7% 13.3% 13.3% 13.3% 13.8% 13.8% 13.4% 12.2% 11.1% 13.2% 13.6% 11.0% 11.5% 10.1% 9.8% 8.7% 8.7% 8.7% 9.2% 7.4% 7.8% 6.9% 6.9% 6.9% Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 ■CET1 Capital Adequacy Ratio ■Total Capital Adequacy Ratio ■Tier I Capital Adequacy Ratio#31EVOLUTION OF CAPITAL RATIOS AND UPDATE ON MINIMUM CAPITAL REQUIREMENTS 31 EVOLUTION OF CAPITAL RATIOS DURING 2021 Capital ratios DEC-20 2021 profit Business growth appreciation GEL Dividend Tier 2 facility impact Capital ratios DEC-21 Potential impact of a 10% GEL devaluation CET1 capital adequacy ratio 10.4% 5.1% Tier I capital adequacy ratio 12.4% 5.1% -2.4% -2.6% 0.5% -0.4% 13.2% -0.8% 0.5% -0.4% 15.0% -0.7% Total capital adequacy ratio 17.6% 5.1% -3.2% 0.4% -0.4% -0.2% 19.3% -0.6% 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 CET1 capital requirement 11.9% 12.2% Tier I capital requirement 14.2% 14.6% Total capital requirement 17.8% 17.8%#32STRONG CAPITAL ADEQUACY POSITION BOG EQUITY VS. CET1 REG. CAPITAL | DEC-21 GEL MILLIONS RISK-WEIGHTED ASSETS GEL MILLIONS +12.1% % of RWAs 13.2% 1.5% 0.7% 1.5% +4.2% 271 3,040 267 121 2,381 16,040 16,516 16,599 17,248 17,978 2.2% NBG CET1 Loan capital Other provisioning provisioning deductions* methodology methodology difference difference IP BOG equity (IFRS) Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 * Revaluation reserve, investments in non-financial subsidiaries and intangible assets Existing additional capital buffers (c.2.2% of risk-weighted assets) reflect the differences in the provisioning methodology between the NBG and IFRS 9 The NBG plans to transition to IFRS-based financial reporting during 2022 32#33TRACK RECORD OF DELIVERING STRONG RESULTS Nominal Constant currency basis 26.4% 26.1% 25.2% 25.8% 27.0% ROAE Loan book YoY growth 21.4% 17.4% 13.0% 18.9% 19.8% 20%+ c.10% 19.0% 22.0% 15.9% 10.2% 13.9% 2017 2018 2019** 2020 2021 2017 2018 2019 2020 2021 33 ROBUST CAPITAL MANAGEMENT TRACK RECORD Maintain regular progressive semi-annual dividend payouts: aiming at a 30-50% dividend/share buyback payout ratio Given higher levels of lending growth in the near-term, the Board currently expects the dividend/share buyback payout ratio to be approximately 35-40% over the next two years Interim dividend of GEL 1.48 per ordinary share paid on 5 November 2021 At the 2022 Annual General Meeting, the Board intends to recommend a final dividend for 2021 of GEL 2.33 per share payable in British Pounds Sterling at the prevailing rate Adjusted for GEL 30.3mln demerger-related costs, a GEL 8.0mln demerger-related corporate income tax gain, a GEL 30.3mln one-off impact of re-measurement of deferred tax balances and GEL 3.9mln (net of income tax) termination costs of the former CEO Adjusted for GEL 14.2mln (net of income tax) termination costs of the former CEO and executive management Dividend yield for 2013-2019 and for interim dividend for 2021 is calculated based on the closing price of shares immediately prior to ex-dividend date. Final dividend yield is calculated based on the closing price of shares on 21 February 2022 REGULAR DIVIDENDS GEL MILLIONS PAYOUT RATIO: 30% 36% 33% 34% 32% 30% 30% 25% 6.3% Final dividend 4.0% 4.2% 3.1% 2.7% 3.1% 3.2% 2.4% Interim dividend 122 124 72 80 98 102 51 72 2014 2015 2016 2017 2018 2019 2020 Total dividend paid during the year 170 2021 2022 Dividend yield*** 2013#34THANK YOU 34