#1Banking Asset Management Managers Pension Payments GTCO March 2022 2021 Full Year Investors/Analysts Presentation Guaranty Trust Holding Company plc#2GTCO Outline Macro-economic Review for FY 2021 Regulatory Overview of FY 2021 FY 2021 Performance Review Business Segments and Subsidiary Review Guidance for FY 2022 Same Orange MORE RANGE#3GTCO Same Orange MORE RANGE Macro-economic Review for FY 2021#4Sub-Saharan Africa Interest Rate and Inflation Highlights Interest Rate In line with major global economies, most African countries cut interest rates to spur growth to aid faster recovery from covid-19 induced economic slowdown. Inflation Most countries experienced record high inflation levels in 2021 driven by lingering supply chain disruptions. Inflation is expected to remain elevated in 2022. 30.00 25.00 20.00 15.00 10.00 5.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 Jan. Feb. 21 21 Mar. 21 Apr. May. Jun. Jul. 21 Aug. Sep. Oct. Nov. Dec. Jan. 21 21 21 21 21 21 21 21 22 Ghana Liberia Cote D'voire Gambia Siera Leone 21 21 21 21 21 Jan. Feb. Mar. Apr. May. Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. 21 21 21 21 22 21 21 21 Uganda Tanzania 20.00 18.00 16.00 14.00 12.00 10.00 8.00 6.00 4.00 2.00 4.50 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 Jan. Feb. Mar. 21 21 21 21 Apr. May. Jun. Jul. 21 Aug. Sep. Oct. Nov. Dec. Jan. 21 21 21 21 21 21 21 22 Ghana. Liberia Cote D'voire Gambia Siera Leone 21 Jan. Feb. 21 Mar. Apr. May. Jun. Jul. 21 Aug. 21 21 21 21 21 Sep. Oct. Nov. Dec. Jan. 21 21 21 21 22 Uganda Tanzania 04#5Sub-Saharan Africa Currency Review Whilst currencies in East Africa remained relatively stable throughout the year, most west African countries recorded a marked devaluation in their currencies with the second half of the year witnessing stronger depreciation against the Dollar relative to the first. 60 gg 58 56 54 52 50 48 46 44 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 USD/GMD ■USD/GHS 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 USD/TZS ■ USD/RWF ■ USD/KES 05#6Macro-economic Review (Nigeria) As the Russia-Ukraine war continues to drive crude oil prices northwards, Nigeria's oil production is expected to rise gradually in line with OPEC production agreement and minimal production interruptions. The recent CBN policies on FX repatriation for exporters is expected to improve FX liquidity and preserve external reserves in the medium to long-term. Yields improved in the first half of 2021 despite its downward trend in 2020. We do not expect a marked increase in yields on fixed income securities from 2021 levels despite government's plans to borrow more to finance it budget deficit. We also expect the CBN to continue to focus on alternates to improve FX inflows. 15 10 4253225050 12.00% 140 10.00% HY 120 8.00% 100 6.00% 80 4.00% 60 2.00% 40 20 0.00% Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 0 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Average 91 days T/Bills yield Average 182 days T/Bills yield Average 1-year T/Bills yield Oil Production (mbpd) LHS External Reserves (US$' Bn) LHS Oi Prices (US$ per barrel) RHS Headline inflation is expected to trend upwards as campaign spending commences and supply chain challenges continues to drive increase in food inflation and general price levels. Increased government spending and positive contribution of select non-oil sectors is expected to improve economic activities and spur positive economic growth. The apex bank adopted NAFEX as the official exchange rate in the first half of 2021. This, coupled with the recent increase in oil prices and projected improvement in FX inflow into the country should result in a relatively stable naira in 2022. 15.75% 13.71% 18.17% 17.75% 500 16.63% 15.63% 400 300 200 5.01% 4.03% 3.98% 100 0.11% 0.51% Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 0 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Feb. 2022 -3.62% Inflation ■GDP NAFEX CBN/INTERBANK 06#7Macro-economic Review and Outlook Global West Africa East Africa After rebounding to an estimated growth of 5.5% in 2021, Global economic growth is projected to slow down to 4.1% in 2022 on the back of lingering supply chain bottlenecks and decelerating fiscal support. The downside to this projection includes possible escalation of the Russia- Ukraine war and the resulting economic and humanitarian crisis amidst prolonged violence in Europe. Real GDP is projected to grow by 4.4% in 2022, which represents a 50 bps increase from 3.9% growth recorded in 2021. Although most countries in the region are expected to witness divergent recovery paths, the interplay of resurging commodities prices, tourism as well as rising food inflation and increase in general price levels, is projected to be net positive for economic growth in the region. The East African region is projected to grow by 4.9% in 2022, consolidating on the positives recorded in 2021; the region is expected to have grown by 4.1% in 2021. Despite the political fragility in some countries in the region, increasing poverty and limited economic diversification efforts, the region is expected to welcome more tourists in 2022. 40 07#8GTCO Same Orange MORE RANGE Regulatory Overview of FY 2021#9Regulatory Overview - Nigeria 2021 The Central Bank of Nigeria (CBN) directs lending institutions to obtain borrowers' credit report from credit bureaus as part of their due diligence Q1 process in granting loans. CBN directs banks to open dollar bank accounts automatically for customers to facilitate remittances. CBN prohibits deposit money banks (DMB), non-banking institutions and other financial institutions from trading and dealing in cryptocurrency. CBN extends discounted interest rate for its intervention facilities by 12 months. CBN introduces "CBN Naira 4 Dollar" scheme to provide Nigerians in the diaspora with cheaper and more convenient means for remittances to Nigeria. CBN and Nigerian Communications Commission (NCC) announce a flat rate fee of N6.98 per transaction for USSD services. CBN launches a new forex repatriation scheme known as RT200 FX Programme (Race to US$200 billion in FX Repatriation) anchored on reaching a goal of US$200 billion in non-oil exports to improve FX repatriation over the next 3-5 years via non-oil exports revenue. CBN launches the digital currency project of the naira; e-Naira. CBN commences the Implementation of Basel III; the third set of regulations of the Basel Accord to guide reporting for Banks and will run concurrently with the existing Basel II for six (6) months period. Global financial markets transition from using LIBOR -the interest rate benchmark used in pricing - to Secured Overnight Financing Rate (SOFR). Q4 " " " " CBN plans to include sugar and wheat to the list of commodities banned from accessing foreign exchange (FX) from the official market. CBN licenses 10 additional International Money Transfer Operators (IMTO). CBN removes N379/USD rate from its website and makes NAFEX the default exchange rate, signalling gradual harmonisation of rates. CBN sets new capital requirements of N2 billion for Fintechs. CBN sets new standard and regulatory framework for non-bank acquirers. CBN halts FX sale and issuance of new licenses to Bureau De Change (BDC) operators, directs DMBS to sell FX directly to customers. CBN warns micro-finance banks (MFBS) against wholesale and FX transactions. President Buhari signs the Petroleum Industry Bill (PIB) into law, weeks after the Senate approved it. CBN directs DMBS to publish the names and BVN of customers who engage in fraudulent FX practices. CBN appoints Bitts Inc. as technical Partner for its proposed digital currency project; e-naira, set to be launched in October 2021. Q2 Q3 09#10GTCO Same Orange MORE RANGE FY 2021 Financial Performance Review#11Key Performance Ratios Net Interest Margin Cost to Income Ratio December 31, 2020 9.26% 38.24% December 31, 2021 6.74% 42.28% Capital Adequacy Ratio 25.90% 23.80% Liquidity Ratio 38.91% 38.26% Loans to Deposits and Borrowings (Bank) 44.64% 42.08% Return on Equity (post tax) 26.83% 20.60% Return on Assets (post tax) 4.63% 3.37% NPL to Total Loans Cost of Risk Coverage (with Reg. Risk Reserve) 128.73% 6.39% 6.04% 1.18% 0.47% 150.39% 11#12Group Balance Sheet Snapshot (N 'Billions) 9.9% Total Assets 5,436.0 FY 2021 4,944.7 FY 2020 Gross Loans and Advances 1,886.4 FY 2021 8.2% 1,743.9 FY 2020 10.2% Total Liabilities 4,552.8 FY 2021 4,130.3 FY 2020 Net Loans and Advances 1,802.7 FY 2021 8.4% 1,662.8 FY 2020 15.7% Investment Securities 1,206.1 FY 2021 1,042.4 FY 2020 (13.6%) Earnings Per Share (EPS) 614 Kobo FY 2021 711 Kobo FY 2020 8.5% Total Equity 883.2 FY 2021 814.4 FY 2020 Total Deposits 4,130.3 FY 2021 14.4% 0% 3,610.8 FY 2020 Total Dividend 300 Kobo FY 2021 300 Kobo FY 2020 12#13Balance Sheet (Group) Group In thousands of Nigerian Naira Dec-21 Dec-20 %y-o-y change In thousands of Nigerian Naira Dec-21 Group Dec-20 %y-o-y change Assets Liabilities Cash and bank balances 933,591,069 745,557,370 25% Financial assets held at fair value through profit or loss 104,397,651 67,535,363 55% Deposits from banks Deposits from customers Derivative financial liabilities 118,027,576 4,012,305,554 101,509,550 3,509,319,237 16% 14% Derivative financial assets Investment securities: 24,913,435 1,206,142,774 - Fair Value through profit or loss 3,904,458 26,448,550 -6% 1,042,428,640 16% 3,273,771 19% Other liabilities 1,580,971 231,519,271 2,758,698 -43% -35% 356,222,575 - Fair Value through other comprehensive income 276,041,190 693,371,711 -60% - Held at amortised cost 846,923,215 283,582,832 199% Current income tax liabilities Other borrowed funds Deferred tax liabilities Total liabilities Equity 22,676,168 21,592,016 5% 153,897,499 113,894,768 35% 12,800,866 4,552,807,905 24,960,772 -49% 4,130,257,616 10% Assets pledged as collateral Loans and advances to banks 79,273,911 62,200,326 27% 115,014 Loans and advances to customers 1,802,587,381 Restricted deposits & other assets 1,137,554,208 99,043 16% 1,662,731,699 8% 1,226,481,116 -7% Share capital Share premium Treasury shares Retained earnings 14,715,590 123,471,114 (8,125,998) 14,715,590 0% 123,471,114 0% (6,928,103) 17% 198,358,025 193,921,810 2% Other components of equity 535,938,145 473,434,457 13% Property and equipment, and Right-of- Use Assets 203,971,924 148,782,835 37% Total equity attributable to owners of the Parent 864,356,876 798,614,868 8% Intangible assets Deferred tax assets 19,573,604 3,187,937 19,872,523 -2% Non-controlling interests in equity 4,716,154 -32% Total equity Total assets 5,436,034,997 4,944,653,293 10% Total equity and liabilities 18,870,216 883,227,092 5,436,034,997 15,780,809 20% 814,395,677 8% 4,944,653,293 10% 13#14Balance Sheet Composition The Group closed FY 2021 with Total Assets of N5.44tn representing a growth of 9.9% from FY 2020 N4.95tn position. Across all its Banking jurisdictions in West Africa, East Africa and United Kingdom, the Group continues to maintain a well-structured and diversified Balance Sheet with Earning Assets constituting 63.2% of Total Assets whilst Loans and Advances, Fixed Income Securities and Money Market Placements accounted for 33%, 24% and 6% of Total Assets respectively. Earning Assets increased by 17% to N3.437tn in FY 2021 from N2.939tn in FY 2020. This strong growth is underpinned by the Group's well diversified and improved Funding base which comprises Customer Deposits, Customers' Escrow Balances and Equity. The improved funding was deployed across all the key Earning Asset Lines resulting in a growth in Loans and Advances by 8.4% (N139.9bn) and growth in Fixed Income Securities (FIS) by 18.1% (N199.9bn). The reduction in Non-earning Assets to N1.999tn in FY 2021 from N2.006tn in FY 2020 was due to an increase in the Special T-Bills position credited by the CBN from the Bank's CRR position leading to a net decrease of N56.5bn in the sterilized Naira deposits. Consequently, CRR closed at N952.3bn in FY 2021 from N1.009tn in FY 2020, resulting in effective CRR ratio of 37.6% from 44.33% in FY 2020 (with Special Bills, CRR closed 59.7%). Special Bills priced at 0.5% closed at N560.8bn in FY 2021 from N411.08bn in FY 2020, representing 43% and 61% of the Group's and Bank's Fixed Income Securities Portfolio respectively. The N149.7bn increase did not have any material impact on the Interest income line owing to its sub-optimal pricing; whereas the cost of funds of the underlying deposits far outweighs the yield on this Special Instrument issued to boost the Bank's Liquidity position. The Group's net Loans of N1.803Trn benefited from the depreciation of the naira, however, the growth in the Naira Loan book (with a gross increase of N113.1bn) exceeded the N26.7bn increase recorded on the FCY Loan Book. The increase in the LCY loan book was principally driven by increased credit flows to the Corporate (Manufacturing, Telecoms & Oil & Gas) and Retail Sectors. The LCY Loan growth and the impact of Management's decision to de-risk the FCY component of its Loan book (in view of the difficulty experienced by one key Obligor in meeting its repayment obligation) was significant to improve the LCY/FCY Loan mix to 51%:49% from 45%:55% recorded in FY 2020. Customer Deposit Liabilities grew by 14.3% (N503.0bn) from N3.509tn in FY 2020 to N4.012tn in FY 2021. Low cost funds increased by 10.2% (N318.2bn) from N3.120tn in FY 2020 to N3.438tn in FY 2021 resulting in Low cost deposit mix of 86% from 89% in FY 2020. The growth was underpinned by the articulate execution of the Group's Retail strategy in the face of a challenging operating environment and increased competition from Fintechs and Tier 2 Banks who offered higher interest rates. In response to the intense competition, the Group grew its Time Deposit Portfolio moving its contribution to 14.3% from 11.1% in FY 2020 (Bank - 13.3% from 9.5% in FY 2020). In spite of the challenges and head winds presented by the operating and regulatory environments in FY 2021 which affected businesses and households, the Group was able to navigate efficiently, deploying appropriate strategies to deliver Post-tax Return on Average Assets of 3.37% and Post-tax Return on Average Equity of 20.60%. Loans, Deposits & Total Assets (N'Bn) 1,449 4,945 3,759 3,351 3,287 3,611 2,147 2,357 2,640 1,262 1,502 1,663 Dec-17 Dec-18 ■Total Loans and Advances Funding Mix ('Bn) 2,147.48 5,436 4,130 1,803 Dec-19 Dec-20 Dec-21 ■Total Deposits Total Assets 4,130.33 3,610.83 2,640.06 2,356.71 814.40 883.23 619.40 224.12 312.62 576.28 140.45 178.57 Dec-18 687.34 233.43 163.00 Dec-19 356.22 113.89 Dec-20 231.52 153.90 Dec-21 Other Liabilities ■ Equity ■Total Deposits Dec-17 ■Debt Securities & Other Borrowed Funds Components of Asset Base (N'Bn) 1,502.09 1,206.14 1,802.70 1,662.83 1,042.43 1,449.28 1,262.01 67.54 104.40 672.94 592.86 745.56 933.59 73.49 23.95 11.31 641.97 676.99 593.55 1,426.30 562.96 642.93 767.72 Dec-17 Dec-18 Dec-19 Dec-20 1,389.20 Dec-21 Other Assets Cash & Equivalents Financial assets held for trading Investment Securities Net Loans#15Group Income Statement Snapshot (N'Billions) (1.6%) Gross Earnings 447.8 FY 2021 455.2 FY 2020 Non-Interest Income 180.9 (7.0%) FY 2021 (11.3%) 17.1% 154.5 FY 2020 Interest Expense 46.3 (1.7%) FY 2021 47.1 FY 2020 Profit Before Tax 221.5 FY 2021 238.1 FY 2020 Interest Income 226.9 FY 2021 300.7 FY 2020 Operating Expense 162.3 10.1% FY 2021 147.4 FY 2020 (13.2%) (0.5%) Profit After Tax 174.8 FY 2021 201.4 FY 2020 Operating Income 383.8 FY 2021 385.5 FY 2020 (56.4%) Loan Impairment 8.5 FY 2021 19.6 FY 2020 15#16Income Statement - Group In thousands of Nigerian Naira Dec-21 Group Dec-20 % Change Interest income calculated using effective interest rate Interest income on financial assets at fair value through Profit or loss Interest expense Net interest income Loan impairment charges Net interest income after loan impairment charges Fee and commission income 251,466,260 288,278,670 -13% 15,427,483 12,458,918 24% (46,281,121) (47,069,441) -2% 220,612,622 (8,531,155) 212,081,467 253,668,147 -13% (19,572,893) -56% 234,095,254 -9% 74,123,774 53,179,802 39% Fee and commission expense (8,472,981) (6,244,554) 36% Net fee and commission income 65,650,793 46,935,248 40% Net gains on financial instruments classified as held for trading 22,390,669 24,486,177 -9% Other income 84,402,399 76,826,192 10% Net impairment reversal/(loss) on financial assets (760,795) 3,190,517 -124% Personnel expenses (33,430,007) (37,606,138) 11% Right-of-use asset amortisation 0 (2,108,645) 100% Depreciation and amortization (35,300,097) (29,046,513) 22% Other operating expenses (93,536,753) (78,677,022) 19% Profit before income tax 221,497,676 238,095,070 -7% Income tax expense (46,658,189) (36,655,130) 27% Profit for the year from continuing operations 174,839,487 201,439,940 Profit for the year 174,839,487 201,439,940 -13% -13% 16#17PBT Trend ⚫ The Group's Gross Earnings dipped marginally by 1.6% to N447.8bn in FY 2021 from N455.2bn in FY 2020 primarily as a result of a reduction in Interest Income from N300.7bn to N266.9bn (11.3%), which was in turn partly offset by growth in Fees and Commissions (N74.1bn vs N53.2bn) and Other Income (N84.4bn vs N76.8bn) during the same period. .. The reduction in the Interest Income line was largely due to yield compression on the Earnings Assets portfolio notwithstanding the growth in average volumes of Earning Assets to N2.48tn from N2.22tn during the same period. Yields dropped to 8.0% in FY 2021 from 11.1% in FY 2020 on the back of a reduction in the yield earned on the Investment Securities Portfolio to 4.5% in FY 2021 from 12.8% in FY 2020 leading to a significant decrease of 39% (N42.7bn) in Interest earned on FIS to N67.7bn in FY 2021 from N110.4bn in FY 2020. The 8.2% growth in Gross Loans offset the 0.5% decline in yields on same (10.5% in FY 2021 vs 11.0% in FY 2020) resulting in a 5.1% growth in Interest income on Loans and advances to N195.02bn in FY-2021 from N185.5bn in FY 2020 which was not adequate to completely mitigate the impact of the 39% fall in Interest income on FIS, therefore culminating into 11.3% reduction in the total Interest Income earned in FY 2021. ⚫ The Group effectively improved its Cost of Funds to 0.9% from 1.2% during the same period to douse the impact of Earning Assets yield compression on Net Interest Income; improving Interest Expense by 1.7% (N788.3mn) from N47.1bn in FY 2020 to N46.3bn in FY 2021 to achieve Net Interest Margin (NIM) of 6.74% in FY 2021 from 9.26% in FY 2020. ⚫ In further response to the yield compression, the Group grew the volume of its fee based transactions resulting in a 39.4% (N20.9bn) growth in Fee and Commission Income to N74.1bn in FY 2021 from N53.2bn in FY 2020. Fees and Commissions growth can be attributed to NIP volume expansion and other digital related transactions resulting in a 79% increase in e- Business related income to N21.1bn in FY 2021 from N11.7bn in FY 2020 and 34% growth noted on Current Account Maintenance Charge (CAMF) from N12.5bn to N16.7bn on the back of 38% growth in Turnover Volumes to N24.8trn from N17.9trn during the same period. Trading efficiencies sustained Trading gains at N22.4bn in FY 2021 from N24.5bn in FY 2020 whilst revaluation gains from the Group's US$1.2bn long position and Income on forward transactions; which comprised principally of Derivative gains, added N45.0bn to Other Income in FY 2021. This is however a drop from N56.6bn in FY 2020 due to the difference in the closing Naira Exchange rate against the US Dollars at the I&E Window in FY 2021 relative to FY 2020. ⚫ Loan Impairment charges decreased by 56.4% from N19.6bn in FY 2020 to N8.5bn in FY 2021 due to the level of Risk reserves built up from previous years, improvement in the outlook of macro-economic variables used in the predictive ECL impairment model amidst waning effect of the Covid-19 pandemic and improvement in the quality of the loan book. The Group's total Operating expense (OPEX) grew by 10.1% (N14.8bn) from N147.4bn in FY 2020 to N162.3bn in FY 2021 primarily from increased regulatory cost associated with Balance Sheet size i.e. AMCON levy and NDIC premium, incremental depreciation charge arising from Capital spend and impact of adverse exchange rate movement against the US Dollars across our jurisdiction of operations in FY 2021. ⚫ PBT contributions from outside Nigeria improved from 15.3% in FY 2020 to 23.5% in FY 2021. • Overall, the Group closed FY 2021 delivering a PBT of N221.5 bn representing a dip of 7.0% from N238.1 bn posted in FY 2020. As the Financial Holding Company takes shape, we expect that the revenue base will be further expanded and strengthened with income from Non-Banking Subsidiaries (i.e. Payments, PFA and Asset Management) with resultant improvement in profitability metrics. PBT (NBN) 231.71 238.10 221.50 215.59 197.69 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Return on Average Assets and Equity 29.96% 30.90% 31.16% 26.83% J 5.19% Dec-17 5.56% 5.59% 4.63% 3.37% Dec-18 ■Return on Average Assets (ROAA) 20.60% Dec-19 Dec-20 Dec-21 ■Return on Average Equity (ROAE) 17#18. Revenue Generation Revenue continued to be challenged as Gross earnings which comprises Funded and Non-Funded Income dipped by 1.6% from N455.2bn in FY 2020 to N447.8bn in FY 2021. Yield compression on Earning assets impacted the Funded Income component causing a 11.3% reduction in earnings from this income line to #266.9bn in FY 2021 from N300.7bn in FY 2020. Consequently, its contribution to Gross earnings dropped to 59.6% in FY 2021 from 66.1% in FY 2020. Non-Funded Income (NFI) however grew by 17.1% to 180.9bn in FY 2021 from N154.5bn in FY 2020. NFI performance was boosted by Increased transactional volumes in the Digital and Non-Digital space stemming from the re- opening of the economy post Covid-19 induced lockdowns across all our jurisdictions. This was positive as e- Business income and Account maintenance charges improved by N9.3bn and N4.2bn respectively. Credit Related Fees, Income from Financial guarantees (i.e. LC commissions, BC commissions and commissions on Accepted guarantees) and commissions on other Account Services Fees also grew during the same period. Reduced spread on FIS trades resulted in 8.6% dip in Net gain on Trading of Financial Instruments during the period (N22.4bn in FY 2021 vs N24.5bn in FY 2020). Other Income benefited from the growth in Loan Recoveries (N9.6bn in FY 2021 vs #4.1bn in FY 2020) and non- recurrence of the modification loss of N3.0bn booked in FY 2020 in compliance with the requirement of the IFRS Standards. It was further enhanced by growth in Discounts and Recoverable earnings to N23.1bn in FY 2021 from ¥13.6bn in FY 2020 owing to improved income from non-vatable digital transactions and offshore rebates from correspondent banks. The growth in Other Income was however curtailed by reduced FX revaluation & Derivative gains (#45.0bn in FY 2021 vs N56.6bn in FY 2020) largely as a result of the impact of the relative changes to Naira/USD exchange rate i.e. N435/$1 in 2021, N410.25/$1 in 2020 and N364.51/$1 in 2019) used in revaluing the Bank's US$1.2bn long position and the forward rate applied to value the US$613mm Swap positions. Interest Income (\'Bn) 203.23 190.80 195.02 181.62 185.53 Revenue Mix (N'Bn) 91.89 327.33 Dec-17 306.96 296.20 300.74 266.89 180.92 154.49 139.10 127.74 Dec-18 Dec-19 Dec-20 Dec-21 Non Interest Income Interest Income Non-Interest Income (\'Bn) 62.42 55.79 50.78 52.37 42.92 37.63 84.40 76.83 74.12 53.18 10.29 24.58 24.49 20.89 22.39 11.34 113.82 104.53 103.69 110.44 67.70 Dec-17 Dec-18 11.63 10.89 4.76 4.17 Other income Dec-17 ■Placements Dec-18 Dec-19 ■Investment Securities Dec-20 Dec-21 Loans and Advances Dec-19 Dec-20 Dec-21 ■Net gains/(losses) on financial instruments classified as held for trading ■Fee and Commission Income 18#19Margin Metrics Sustained Competitive Margins ⚫ NIM under pressure at 6.74% in FY 2021 as against 9.26% as of FY-2020 due to declining Asset Yields. Sound Treasury Management weighed positively and limited Asset yields compression by 302 bps to 8.05% in FY 2021 from 11.06% in FY 2020. ⚫ The Group continues to implement its well-articulated retail strategy, diversified its funding base and played to the strength of its brand to gain enough market share in the retail space and maintain its strong low-cost mix position. • Cost of Funds (COF) improved by 31bps (from 1.19% in FY 2020 to 0.88% in FY 2021) following an improvement in low-cost deposit mix to 86%. This was however not adequate to offset the 302 bps decrease in Asset Yields. . The low-cost deposit mix enabled the Group to navigate the low Interest rate environment and compete effectively on asset pricing and helped moderate the pick-up in cost of funds as the Group strives to sustain its liquidity position amidst intense competition from Fintechs and Tier 2 banks. ⚫ The Group will continue to seek alternative yield optimization opportunities by taking advantage of its transition to a fully-fledged Financial Services Company. Net Interest Margin 10.42% 9.23% 9.28% 9.26% 6.74% Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Cost of Funds Yields on Interest Earning Assets 14.26% 12.33% 11.92% 11.06% 8.05% 3.19% 3.00% 2.30% 1.19% 0.88% Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 19#20Efficient Cost Management OPEX grew by 10.1% from N147.4bn in FY 2020 to N162.3bn in FY 2021 due to the impact of rising headline inflation and exchange rate movement at the official market which precipitated an increase in general prices of goods and services. • OPEX growth of 10.1% was below headline inflation which closed at 15.63% in December 2021. • Operating cost was largely impacted by increased Regulatory Costs - 27.3% growth in AMCON expenses and 21.5% increase in Depreciation Expenses. • 1.7% savings on Interest Expense was primarily driven by changes to interest rate paid on savings account deposit which is indexed to Monetary Policy Rate (MPR). CBN reduced MPR from 12.5% to 11.5% and interest rate paid on savings deposit from 30% to 10% of MPR in September 2020. The Group benefitted from the full impact of this change in FY 2021. Continued utilization of the Group's dollar liquidity enabled seamless repayment of maturing FCY borrowings thereby reducing pressure from exchange rate movement which would have led to increased interest expense from translation impact of depreciation of the Naira against USD as at December 2021. Repayment of FCY borrowings therefore contributed to the sustenance of Cost of Funds (COF) at 0.88% in FY 2021. • Overall, Cost to Income Ratio (CIR) closed at 42.3% in FY 2021 from 38.2% in FY 2020 which is above our 35% guidance owing to pressure on revenue which outweighed the gains from cost efficiency. The Group remains committed to effectively managing its cost despite inflationary and revenue pressures in order to remain within the FY 2022 guidance. Overview of Expenses (N'Bn) Cost to Income (CIR) 38.89% 37.09% 36.11% 38.24% 42.28% Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Operating Expenses (OPEX) (\'Bn) 15.38 17.63 22.69 29.05 35.30 2.19 80.67 125.82 12.17 1.90 127.13 162.27 147.44 128.86 84.53 64.84 4.91 2.98 47.07 46.28 19.57 4.91 6.24 8.47 8.53 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 ■Fee & Commission expense Interest expense Operating expense Loan Impairment 1.60 70.56 76.00 68.88 78.68 93.54 32.83 2.09 36.86 2.11 37.28 2.11 0.00 37.61 33.43 Dec-17 Dec-18 Dec-19 Other Operating Expense Depreciation and Amortization Dec-20 Dec-21 Operating Lease Expense/Right-of-Use Assets Amortization Personnel Expense 20 20#21OPEX In billions of Naira Depreciation and Amortization AMCON Expenses Occupancy Costs and Repairs & Maintenance Deposit Insurance Premium General welfare Expenses Customer Service Related Expenses Communication, Tech. related & Admin. Expenses Advert, Promotion and Corporate Gifts Personnel Expense Group Group FY 2021 FY 2020 Change (Y-o-Y) % Change (Y-0-Y) 35.3 29.0 6.3 21.5% 21.9 17.2 4.7 27.3% 9.6 12.9 (3.2) (25.0%) 12.2 8.5 3.7 43.9% 6.5 0.9 5.6 603.9% 1.7 3.1 (1.4) (44.5%) 18.5 14.3 4.1 28.9% 5.8 5.1 0.7 13.5% 33.4 37.6 (4.2) (11.1%) OPEX Drivers The Group recorded a 10.1% growth in Operating Expenses from N147.4 bn in FY 2020 to 162.3 bn in FY 2021. The growth was primarily driven by the following: a. b. C. d. Depreciation and amortization expenses which grew by 21.5% as a result of incremental charge on Capital spent on IT infrastructure in Q4 2020 as well as capitalization of balances in Work in Progress in respect of amount spent on Furniture & Equipment, Computer Hardware and Software procured for branches in prior year. Increase in Regulatory Charges i.e. AMCON Levy and Deposit and Other Insurance Premium. AMCON levy increased by 27.3% due to the growth in Total Asset and Contingents at Bank level to N4.37trn in FY 2020 from N3.44trn in FY 2019 (AMCON levy is computed as 0.5% on preceding year's Total Asset and Contingents) while Deposit Insurance premium increased by 43.9% (N12.2bn in FY 2021 vs N8.5bn in FY 2020) due to 39% increase in Customers' Deposits to N3.51trn in FY 2020 from N2.53trn in FY 2019 (Deposit Insurance Premium is calculated on preceding year's Customers' Deposits). 59.1% growth in Administrative expenses was due to the impact of rising inflation, increased operational cost (especially cost of moving cash) due to full opening of all the Group's branches in 2021 compared to partial opening of branches in some months in 2020 due to Covid-19 induced lockdowns and the translation impact of Subsidiaries OPEX balances to Naira on the weaker Naira/US$ conversion. 604% growth in General welfare expenses was due to changes in the valuation of loans granted to staff at contractual interest rates below market, increased training expenses and growth in other staff general welfare expenses in our Ghana and Kenya Subsidiaries. 21#22Risk Asset Mix " Well diversified loan book with specific focus on quality risk assets across all our select business segments. Reduced exposure to the manufacturing sector was largely driven by scheduled paydowns and the slow recovery from significant disruptions caused by the impact of the Covid-19 Pandemic on businesses in this sector. Proportional mix of Oil & Gas to the entire portfolio also reduced due to conscious effort at reducing the concentration risk within this Sector. 93% of the exposures in the Oil & Gas sector are USD denominated The total restructured loans stood at N251.95billion constituting 17.9% of the gross loan portfolio. 80.2% of the restructured loans relates to two (2) Obligors. Gross Loans by Industry Upstream Oil and Gas Manufacturing December 31, 2021 28% 14% Midstream Oil and Gas 14% Individual 12% Information, Telecoms. and Transport. 8% Government 4% Others* 5% Agriculture 7% Capital Market and Fin. Institutions 3% General Commerce 2% Construction and Real Estate 2% Downstream Oil and Gas Education 0.5% 0.5% * Includes Fashion & Design, Religious Organizations, Hospitality, Clubs, co-operative societies, Unions, Engineering services etc. December 31, 2020 29% 19% 14% 11% 7% 5% 3% 1% 4% 3% 2% 1% 1% 22 22#23Asset Quality The Group improved its asset quality with IFRS 9 Stage 3 loans closing at 6.04% in FY 2021 from 6.39% in FY 2020. The marginal increase in prudential NPLs from 6.86% to 6.92% was as a result of stress noted with certain exposures within the Hospitality, Individuals, Clubs, Co-operative Societies and Unions as the Obligors within these sectors were severely impacted by Covid-19. Downstream sector benefitted from the N7.2billion write-off in FY 2021 as its NPLs improved to 8.6% in FY 2021 from 11.0% in FY 2020. IFRS 9 Stage 3 loans closed at N113.9bn as at FY 2021 increasing by 2.2% from N111.5bn in FY 2020. Balance Sheet Impairment Allowance for Stage 3/Lifetime Credit Impaired exposures closed at N57.5bn representing 50.5% coverage of Loans in this classification. In aggregate terms (including Regulatory Risk Reserves of N87.6bn), the Group has adequate coverage of 150.4% for its Stage 3 names/NPLs, this position is consistent with the Group's plan to maintain 100% coverage for its NPLs. NPL by Industry Others* Individual General Commerce 10.7% 11.3% NPL and Coverage 119.6% 7.66% 105.1% 126.4% 128.7% 150.4% 7.30% 6.53% 6.39% 6.04% JJJJJ 0.76% Dec-17 1.18% 0.50% 0.34% 0.34% Dec-18 Cost of Risk NPL/Loans 27.8% NPL by Currency 27.4% 19.5% 21.2% Dec-19 Dec-20 Dec-21 Coverage ratio 15% Construction & Real Estate 7.8% 8.6% Midstream O&G 8.5% 8.6% Downstream O&G 11.0% 8.6% 8.5% Manufacturing 6.1% 85% 3.7% Info. Telecoms & Transport. 3.4% 0.3% Agriculture 2.8% Education 1.5% Capital Market & Fin. Institution 0.6% 0.5% ■FY 2020 ■FY 2021 ■ FCY ■LCY * Includes Engineering services, Fashion & Design, Religious Organizations, Hospitality, Clubs, co-operative societies, Unions etc.#24Strong Capital Ratios - Group and Parent The Group continued to maintain strong capital positions with Full and Transitional IFRS 9 impact Capital Adequacy Ratio (CAR) of 23.8% and 25.4% respectively, 883bps above the regulatory minimum of 15%. Tier 1 capital remained a very significant component of the Group's CAR standing at 23.0% representing 97% of the Group's Full IFRS 9 impact CAR of 23.8% The robust Capital position provides headroom for the Group to meet future expansion and capacity for additional risk taking. The Group's Capital has been sensitized for Basel III compliance and found robust enough to meet the requirements for additional capital for conservation and Counter cyclical buffers. Capital Adequacy Computation (Basel II) Net Tier 1 Capital Net Tier 2 Capital In Millions of Naira 25.68% 23.39% 22.51% 25.90% 23.83% 25.40% Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-21* Group Transitional IFRS 9 Impact Full IFRS 9 Impact Regulatory Capital (Group) - Tier 1 & 2 (\\'Bn) Dec. 21 Dec. 20 Dec. 21 769,938 785,197 24,239 794,177 24,950 810,147 704,447 24,239 728,686 Dec. 20 702,429 24,950 727,379 CAGR 14.7% 728.6 727.4 554.2 Total Regulatory Capital Risk Weighted Assets for: Credit Risk 2,495,964 Operational Risk 612,312 Market Risk 15,214 Aggregate Risk Weighted Assets 3,123,491 2,272,857 589,712 10,998 2,873,567 2,430,474 612,312 15,214 3,058,000 2,207,366 589,712 10,998 2,808,076 Capital Adequacy Ratio: Tier 1 Risk Weighted Tier 2 Risk Weighted 24.65% 0.78% 27.32% 0.87% 23.04% 0.79% 25.01% 0.89% Dec. 2019 Dec. 2020 Dec. 2021 Total Risk Weighted Capital Ratio 25.43% 28.19% 23.83% 25.90% * Transitional IFRS 9 Arrangement CAR 24#25Liquidity Ratio Strong Liquidity Position •Liquidity ratio closed at 38.26% in FY 2021 (FY 2020: 38.91%) well above the regulatory minimum requirement of 30% •Despite the pressure from intense competition and need to cover for regulatory debits, the Group maintained average liquidity ratio of 40.76%. Liquidity Trend 48.52% 49.33% 41.44% 38.91% 38.26% 11 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 25#26Digital Banking Performance (USSD) Continuous growth in the level of adoption of digital banking both in volume and value. Total number of USSD unique users grew by 4.3% (300,000) from 6.9 million in Dec. 2020 to 7.2 million in Dec. 2021. The introduction of N6.98 flat fee on successful USSD transactions impacted the growth trajectory on this platform as more customers opted for mobile and internet banking platforms for their banking transactions. USSD Value (in billions of Naira) 364.3 333.8 287.9 2691 261 USSD Volume (in millions) 85.9 83.5 84.2 81.8 81.2 82.3 81.4 82.9 78.7 76.3 81.4 72.5 72.4 74.4 70.2 69.2 63. 63.1 59. 55 56.6 51.4 433.0 77.3 391.9 386.0 380.8 379.3 369.9 363.9 367.8 71.5 361.1 355.6 339.1 330.6 335.2 319.0 312.3 280.8 293.2 275.9 212.2 Jan Jan Feb Feb Mar Apr May Jun Mar Jul ■2020 Aug Sep Oct Nov Dec ■2021 Apr May Jun Jul Aug Sep Oct Nov Dec ■ 2020 -2021 Total Value in FY 2021: N4,117.5 billion Total Value in FY 2020: N3,886.03 billion % Growth (y-o-y): 6% Total Volume in FY 2021: 966.9 million Total Volume in FY 2020: 790.0 million % Growth (y-o-y): 22% 26 26#27Digital Banking Performance (Mobile and Internet Banking) " The increase in transactions on the internet and mobile banking platforms was buoyed by the introduction of a Telco charge of N6.98 per successful USSD transaction which resulted in increased adoption of other electronic banking platforms. The 68% year-on-year growth in Mobile banking volumes resulted in a N10.38 trillion growth from N15.21 trillion in FY 2020 to N25.59 trillion in FY 2021. Mobile Banking (Value in Trillions of Naira) Mobile Banking (Volume in Millions) 2.5 28 2.3 2.4 2.2 2.0 2.0 2.0 2.0 2.0 1.8 1.7 1.6 1.7 1.6 1.5 1.5 1.5 1.2 1.0 1.0 1.0 0.9 47.4 37.5 38.9 40.0 41.8 34.7 30.3 31.4 32.7 29.6 25.8 24.0 25. 22. 18.9 19.1 19. 20. 20. 14.5 16. 16.8 14. 13. Jan Feb Mar Apr May Jun Jul ■2020 Aug Sep Oct ■2021 Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ■2020 ■2021 Total Value in FY 2021: N25.59 trillion Total Value in FY 2020: N15.21 trillion % Growth (y-o-y): 68.2% Internet Banking (Value in Billions of Naira) Similarly, the volume of internet banking transactions grew by 1.8% in FY 2021 from 10.9 million to 11.1 million. An 8.7% growth in value also translated to an increase of N221.5 million to N2,559.3 billion in FY 2021 238.0 230.4 236 203.3 216.3 Total Volume in FY 2021: 414.2 million Total Volume in FY 2020: 222.7 million % Growth (y-o-y): 86% Internet Banking (Volume in Millions) 252.9 256.9 230.7 220.4 241.0229.7 220 220.8 222.0 238.4 240.5 249.8 240 Z 219.0 1.09. 185. 195. 206. 1.04 190.4 0.99 1.00 0.96 0.95 0.94 151. 0.89 0.90 0.87 0.91 0.91 0.93 0.87 0.91 0.86 0.82 0.94 0.93 1.02 0.87 0.72 0.65 Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2020 2021 Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Value in FY 2021: N2,779.3 billion Total Value in FY 2020: N2,557.8 billion % Growth (y-o-y): 8.7% 2020 2021 Total Volume in FY 2021 : 11.1 million Total Volume in FY 2020: 10.9 million % Growth (y-o-y): 1.8% 27#28Update on our Holding Company Structure Holding Company Structure We started 2021 with our corporate re- organisation, and finished the year more robust and dynamic to consolidate our lead across the breadth of financial services. As we leverage every single synergy inherent in our Holding Company structure, we are also bolstering our abilities to effectively and efficiently offer all the relevant financial services our customers may need. Transaction Update Re-organization exercise was concluded and became effective August 1, 2021 Guaranty Trust Holding Company Plc is the Parent company of Guaranty Trust Bank Ltd. and its other banking subsidiaries, as well as non-banking subsidiaries Acquisition of 100% stake in Investment One Fund Manager Ltd. and Investment One Pension Managers Ltd were concluded in February 2022 Awaiting regulator's Substantive Approval for the commencement of operations of the payment company following the earlier receipt of the CBN's Approval-in- Principle (AIP) Integration of operations, rebranding and strategic planning exercise for both Pension and Fund Management Businesses currently ongoing 28#29GTCO Same Orange MORE RANGE Business Segments & Subsidiary Review#30Business Segmentation (Group) - FY 2021 Institutional and Wholesale 2,100+ Customers N1,408.1 billion Loans Description N5 billion+ Turnover N1,022.8 billion Deposits Loans Deposits PBT Large Corporates, Multinationals, Energy, Telecoms, Maritime etc. 78.1% 24.8% 63.3% N137.7 billion PBT 75.9%* 24.2%* 69.4%* Commercial 270,250+ Customers N101.5 billion Loans SME 1.29 million+ Customers N31.2 billion Loans 24.2 million+ Customers N192. billion Loans 235 Branches Retail Public Sector FY 2020 above N500 million to N5 billion Turnover Tailor-made Solutions and Flexibility for Middle Market Companies 5.6% 10.4% 4.6% N429.9 billion Deposits N10.1 billion PBT 6.4%* 10.9%* 3.3%* under N500 million Turnover Caters to small, fledging and fairly structured businesses 1.7% 11.7% 2.2% N484.3 billion Deposits N4.8 billion PBT Retail-focused Customer base N2,175.6 billion Deposits 60 GTExpress Outlets 1.7%* 12.0%* 1.9%* Consumer Lending N62.8 billion PBT 10.7% 52.7% 28.9% 33 1,361 e-branches & Cash Centres ATMs 10.0%* 52.5%* 24.1%* Federal, state & local governments N93.7 billion Loans Ministries, Departments. & Agencies (MDAs) N17.7 billion Deposits All segments of government N2.3 billion PBT 3.8% 0.4% 1.1% 6.0%* 0.5%* 1.2%* 30#31Geographical Presence - FY 2021 GTBank Ltd. ⚫ 100% owned by GTCO Established in 1990 235 branches, 16 e-branches, 14 cash centres & 60 GTExpress ⚫N138.19 bn invested by GTCO FY 2021 PBT: N176.12 bn ROE: 20.2% Habari Pay Established in Aug. 2021 100% owned by GTCO ⚫ 1 branch N3.62bn invested by GTCO FY 2021 PBT: Nill United Kingdom • Established in 2008 • 100% owned by GTBank Ltd. ⚫ 1 branch ⚫ N9.60bn invested by GTBank Ltd. • FY 2021 PBT: (N1.16 bn) ROE: 6.3%) Liberia • Established in 2009 ⚫ 99.43% owned by GTBank Ltd. ⚫10 branches ⚫ N1.95bn invested by GTBank Ltd. • FY 2021 PBT: N2.65 bn ⚫ ROE: 19.3% Cote D'Ivoire • Established in 2012 100% owned by GTBank Ltd. ⚫ 4 branches ⚫ N5.08bn invested by GTBank Ltd. • FY 2021 PBT: N2.78 bn ⚫ ROE: 22.3% Sierra Leone Established in 2002 • 83.74% owned by GTBank Ltd. ⚫ 16 branches ⚫N594.11m invested by GTBank Ltd. ⚫ FY 2021 PBT: N3.54 bn • ROE: 19.2% Gambia • Established in 2002 • 77.81% owned by GTBank Ltd. ⚫15 branches & 1 e-branch • N574.28m invested by GTBank Ltd. FY 2021 PBT: N3.75 bn • ROE: 31.6% Ghana • Established in 2006 ⚫ 98.32% owned by GTBank Ltd. • 35 branches ⚫ N18.14bn invested by GTBank Ltd. • FY 2021 PBT: N33.84 bn ⚫ ROE: 27.5% Uganda • Acquired in 2013 • Subsidiary of GTB Kenya .8 branches ROE: 11.9% H Kenya . Acquired in 2013 ⚫ 70% owned by GTBank Ltd. ⚫ 9 branches ⚫ N17.13bn invested by GTBank Ltd. ⚫ FY 2021 PBT: N6.90 bn • ROE: 12.3% (Parent: 5.9%) Rwanda • Acquired in 2013 Subsidiary of GTB Kenya ⚫ 14 branches ⚫ ROE: 201.2% Tanzania • Established in Dec. 2017 • 76.2% owned by GTBank Ltd. ⚫ 1 branch ⚫N3.84bn invested by GTBank Ltd. ⚫ FY 2021 PBT: (N276.94 mn) • ROE: (7.6%) 31#32East Africa West Africa Banking and Non-Banking Subsidiary Overview - FY 2021 Assets Total Deposit Millions of Naira FY 2021 FY 2020 % Change FY 2021 Loans FY 2020 PBT % Change FY 2021 FY 2020 % Change FY 2021 FY 2020 % Change Cote D'Ivoire Gambia Ghana 72,334 54,403 33% 15,666 15,428 2% 56,837 40,218 41% 2,785 1,203 132% 85,857 66,300 29% 8,213 7,598 8% 73,353 55,451 32% 3,749 2,337 60% 370,830 290,757 28% 119,445 75,322 59% 276,090 213,336 29% 33,842 26,356 28% Liberia 74,288 58,483 27% 38,258 29,444 30% 61,502 43,515 41% 2,651 1,764 50% Sierra Leone 70,918 61,982 14% 13,438 13,314 1% 53,189 48,044 11% 3,540 2,880 23% Kenya Group 210,109 182,681 15% 94,334 80,269 18% 157,202 140,919 12% 6,895 4,010 72% Tanzania 10,827 7,008 54% 3,747 2,321 61% 6,618 3,016 119% -277 -416 33% Nigeria 4,357,033 4,061,544 7% 1,475,789 1,410,617 5% 3,236,260 2,881,699 12% 176,121 205,131 -14% United Kingdom 287,667 258,119 11% 33,813 28,458 19% 267,308 235,938 13% -1,158 -1,617 28% Habari Pay Grand Total 3,625 5,436,035 4,944,653 0 0 0 0 0 0 0 10% 1,802,587 1,662,732 8% 4,130,334 3,610,829 14% 221,498 228,095 -3% % Contribution of Subsidiaries to Group West Africa (excluding Nigeria) East Africa N195.0 billion Loans United Kingdom *post elimination entries Loans Deposits PBT N521.0 billion Deposits N46.6 billion 10.8% 12.6% 21.0% PBT N98.1 billion Loans N163.8 billion Deposits N6.6 billion PBT 5.4% 4.0% 3.0% N33.8 billion Loans N267.3 billion Deposits (N1.16 billion) 1.9% 6.5% PBT (0.5%) 32#33Regional Performance - FY 2021 32 branches East Africa FY 2021 Gross Earnings: N23.50 bn (FY 2020: N19.19 bn) FY 2021 PBT: N6.61 bn (FY 2020: N3.59 bn) 84.1% y-o-y ROE: 10.5% (FY 2020: 7.2%) 22.5% y-o-y West Africa (excluding Nigeria) 80 branches, 1 e-branch FY 2021 Gross Earnings: N87.83 bn (FY 2020: N68.04 bn) 29.1% y-o-y FY 2021 PBT: N46.57 bn (FY 2020: N34.54 bn) -35% y-o-y " ROE: 25.7% (FY 2020: 25.7%) 33#34CUSTOMERS Non-Financial Highlights for FY 2021 25.7mm + Customers 30 e-Branches and Cash Centres EMPLOYEES 21,613+ Active POS Terminals 348 International Branch: Network 6,388 55.1% 44.9% Employees Male Female COMMUNITIES Masters Cup 2021 (Season 9) MASTERS CUP 20219 35 Schools participated in the 2021 editions of the Masters Cup ACCOLADES 1,361 Automated Teller Machines 60 GT Express Locations GTWorld 885,570+ Unique Users BANK °737° 500mm+ Unique Transactions OXONOMOMONO MMMMMM 96% of employee received training in FY 2021 I☑ 328,859 Shareholders SHAREHOLDERS 614 Kobo EPS 2nd Most Capitalized Financial Services company and Best-in- Class Returns Guaranty Trust Annual Autism Conference 2021 International Women's Day Campaign 2021 1,619+ Zoom Participants 740+ Physical Attendees 落 TH Annual Autism Programme 14,375+ Youtube views 1,762+ Online Registration What if you could give 1000 women free healthcare coverage for a year? ChoowToCunge 1000+ Self-employed women provided with 1 year free health insurance coverage EUROMONEY AWARDS FOR EXCELLENCE 2021 Africa's Best Bank. ✓ Nigeria's Best Bank WORLD FINANCE DANKING AWARDS 2021 Africa's Most Innovative Bank African Banker of the Year (Segun Agbaje) Nigeria's Best Retail Bank and Banking Group brand AFRICA 100 AFRICA'S D S BEST BRANDS 2021 Africa's Most Admired Financial Services Brand Nigeria's Most Admired Financial Services Brand BEST BAN AWARO 2021 GLOBAL Nigeria's Best Treasury and Cash Management Bank 5.8mm+ active cards RATINGS GTBank Nig. Ltd. Fitch Ratings B S&P Global Ratings B- 2021 Financial Literary Day 405+ Students benefitted from the initiative 19+ Volunteers 4 states visited (Enugu, Plateau, Osun and Niger) WORLD BUSINESS OUTLOOK Nigeria's Best Digital Bank Nigeria's Best Mobile Banking App. 34#35GTCO Same Orange MORE RANGE FY 2022 Guidance#36FY 2022 Guidance FY 2020 FY 2021 PBT Deposit Growth N238.1 bn N221.5 bn FY 2022 Guidance N243 bn 36.8% 14.4% 25% Loan Growth 10.7% 8.4% 10% Coverage (with Reg. Risk Reserve) 128.7% 150.4% 100% Cost of Risk 1.18% 0.50% 1% NPL to Total Loans 6.4% 6.00% 6% Return on average Assets 4.6% 3.4% 5% Return on average Equity 26.8% 20.60% 25% Loans to Deposits and Borrowings (Bank) 49.4% 43.60% 50% Liquidity Ratio 38.9% 38.30% 38% Capital Adequacy Ratio 26.52% 23.80% 23% Cost to Income Ratio 38.2% 42.30% 35% Net Interest Margin 9.26% 6.70% 8% Banking (Nigeria) Contribution to PBT 84.7% 76.5% 70% Banking (Ex-Nigeria) Contribution to PBT 15.3% 23.5% 28% Non-Banking Contribution to PBT 0% 0% 2% 37#37Disclaimer This presentation is based on Guaranty Trust Holding Company Plc ("GTCO" or "Group")'s audited financial results for the full year ended December 31, 2021 prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board (IASB). The Group has also obtained certain information in this presentation from sources it believes to be reliable. Although GTCO has taken all reasonable care to ensure that such external information are accurate and correct, the Group makes no representation or warranty, express or implied, as to the accuracy, correctness or completeness of such information. Furthermore, GTCO makes no representation or warranty, express or implied, that its future operating, financial or other results will be consistent with results implied, directly or indirectly, by information contained herein or with GTCO's past operating, financial or other results. Any information herein is as of the date of this presentation and may change without notice. GTCO undertakes no obligation to update the information in this presentation. In addition, some of the information in this presentation may be condensed or incomplete, and this presentation may not contain all material information in respect of GTCO. This presentation may also contain "forward-looking statements" that relate to, among other things, GTCO's plans, objectives, goals, strategies, future operations and performance. Such forward-looking statements may be characterised using words such as "estimates," "aims," "expects," "projects," "believes," "intends," "plans," "may," "will" and "should" and other similar expressions which are not the exclusive means of identifying such statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause GTCO's operating, financial or other results to be materially different from the operating, financial or other results expressed or implied by such statements. Furthermore, GTCO makes no representation or warranty, express or implied, that the operating, financial or other results anticipated by such forward-looking statements will be achieved. Such forward-looking statements represent, in each case, only one of many possible scenarios and should not be viewed as the most likely or standard scenario. GTCO undertakes no obligation to update the forward-looking statements in this presentation. 38#38Thank You GTCO Same Orange MORE RANGE