#1im OUR BRAND PROMISE We Are On Your Side Our Core Values * INTEGRITY TRUST RESPECT INNOVATION COURAGE#2Disclaimer & Forward-looking statements The contents herein have been presented in good faith. The information, statements, and opinions set out in this presentation and subsequent discussion do not constitute a public offer for the purposes of any applicable law or an offer to sell or solicitation of any offer to purchase any securities or other financial instruments or any advice or recommendation in respect of such securities or other financial instruments. The information contained in this presentation and subsequent discussion, which does not purport to be comprehensive nor render any form of financial or other advice, has been provided by the Bank and has not been independently verified by any other party. 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Any such future outlook may involve significant assumptions and subjective judgments which may or may not prove to be correct and there can be no assurance that any of the matters set out are attainable, will actually occur or will be realized or are complete or accurate. The assumptions may prove to be incorrect and involve known and unknown risks, uncertainties, contingencies and other important factors, many of which, are outside the control of the Bank. Any such future outlook is based on the beliefs, expectations and opinions of the Bank at the date the statements are made, and the Bank does not assume, and hereby disclaims, any obligation or duty to update, revise or supplement them if circumstances or management's beliefs, expectations or opinions should change. The Financial results of the Bank can be sourced from the link: https://www.imbankgroup.com/rw/about-us/annual-reports/ I&M Rwanda - H1 2022 Earnings Presentation 2#3Today's speakers ROBIN C. BAIRSTOW MANAGING DIRECTOR I&M Rwanda - H1 2022 Earnings Presentation DEDERI WIMANA CHIEF FINANCE OFFICER 3#4Index 1 Operating context & Business Highlights 2 Financial Review 3 Strategy Update & Outlook I&M Rwanda - H1 2022 Earnings Presentation Account Opening 05 Teller 04 Teller 07 Teller 06 M#5Rwanda | Operating Context mm Outlook Review on Rwanda • GDP growth of 7.9% (Q1-2022) - (10.3% in Dec 2021) Rebound of business & economic activities: following the lifting of all COVID-related restrictions. COVID vaccinations at +80% in the country. (1) Resumption of MICE and tourism promotion. Macroeconomic pressures • • • Currency depreciation by 3.78% YoY against the US Dollars (2) (slower than 5.34% recorded by June 2021) Inflation rate: + 16.1% YTD in June 2022 (3) (0.1% overall CPI increase recorded by June 2021) 25% increase YoY in food & non-alcoholic beverages prices (3) - (0.2% YoY increase recorded by June 2021) 15% avg. increase YoY in Housing water, electricity, gas and other fuels prices (3) - (1.8% YoY increase recorded by June 2021) Efforts to boost economic growth & recovery Increase of lending rate to 6% by the National Bank of Rwanda & managing exchange rates adjustments Acceleration of the vaccination campaign across the country • Subsidies cushioning against food & energy prices. I&M Rwanda - H1 2022 Earnings Presentation Vaccination data: "Our World in Data" Source: 1. 2. 3. Depreciation sourced from the National Bank of Rwanda (BNR) Inflation rate, prices and GDP sourced from the National Institute of Statistics (NISR) Abbreviations: *YOY: year-on-year * CPI: Overall Consumer Price Index#6Business Highlights | Delivered strong half-year results 00Û Growth Profitability Strength . Customer base: +62 K, up by 31% YoY. Customer deposits of RWF 352Bn, up by 8% YTD. Loan book of RWF 237Bn, up by 7% YTD. Revenue growth: Net Interest Income +17% YoY and Non-funded Income +35% YoY. • Headline earnings +16% YoY. Cost discipline leading to an efficiency ratio of 57.8% Profit before tax of RWF 6.5 Bn: +25% YoY NPL Ratio of 1.58% Strong capital adequacy position: Tier I CAR of 17.36%; Tier II of 19.35% Healthy funding & liquidity positions: LCR of 170% I&M Rwanda - H1 2022 Earnings Presentation#7Index 1 2 3 Operating context & Business Highlights Financial Review Account Opening Strategy Update & Outlook I&M Rwanda - H1 2022 Earnings Presentation 05 Teller 04 07 Teller Teller 06 M#8H1-2022 Financial highlights - ongoing execution of our iMara 2.0 strategy Rwf 'Millions Jun-22 Jun-21 Jun-20 Cost-to-Income Ratio % YoY Var. -4% Net interest income 15,572 13,309 11,230 17.0 59.9% Net fee income 1,075 857 768 25.4 57.8% Trading and other income 2,965 2,134 2,067 38.9 Total operating income 19,616 16,300 14,065 20.3 Jun-21 Jun-22 Operating expenses -11,335 -9,769 -9,144 16.0 Net operating income 8,277 6,531 4,921 26.7 Net Impairment Charge -1,772 -1,342 -1,582 32.0 Profit Before Tax 6,505 5,189 3,339 25.4 Tax Expense Profit After Tax -2,277 -1,816 -1,169 4,229 3,373 2,170 Key take-aways H1-2022 performance reflects the continued benefits of our diversification strategy. NII increased on the back of the loan book growth, revenues from investment securities and cost of funds management. Non-Funded Income grew on the back of investments made on our digital platforms and various revenue-generating initiatives put in place by the Bank. I&M Rwanda - H1 2022 Earnings Presentation 8#9Well-funded, diversified, and highly liquid balance sheet (large % contribution from deposits from customers & other financial institutions) Rwf 'Billions Jun-22 Dec-21 Dec-20 % Var. Dec-21 Credit Quality indicators Jun-22 Dec-21 Dec-20 222.4 205.2 7% Loans & Advances 237.1 Financial Investments 113.3 91.5 100.9 24% NPL Ratio 1.58% 3.45% 3.51% Other Assets 146.0 153.0 111.1 -5% Total Assets 496.5 466.9 417.2 6% Deposits from customers 300.3 266.5 248.4 13% Key take-aways • Deposits from Banks 51.8 60.4 49.8 -14% . Borrowings 59.6 61.0 49.1 -2% Other Liabilities 18.3 16.8 15.4 9% Deposit liabilities increased on the back of growth in customer base by 31% YoY Loans & Advances reflects refocused business environment & improvement in credit quality. 66.5 62.2 54.5 7% Shareholders' Equity Total Liability & Equity 496.5 466.9 417.2 6% I&M Rwanda - H1 2022 Earnings Presentation 9#10Strong capital levels & liquidity Ratios 350 340 19.65% 330 Capital Adequacy Ratio 20.75% Liquidity Coverage Ratio 22.00% 344 600% 542% 21.00% 500% 20.00% 317 19.35% 19.00% 400% 320 18.00% 16.45% 17.36% 310 18.08% 300% 17.00% 300 297 290 280 270 Dec-20 Dec-21 Jun-22 RWAS (RWF Bns) Tier 1 CAR Tier 2 CAR Regulatory requirement: Tier I CAR: 13% Tier II CAR: 15% I&M Rwanda - H1 2022 Earnings Presentation 16.00% 200% 15.00% 100% 14.00% 504% 170% 13.00% 0% Dec-20 Dec-21 Jun-22 ■LCR Regulatory requirement: LCR: minimum of 100% 10#11Key ratios reflects the business growth and tangible momentum behind our strategy execution. Dec-20 Dec-21 Jun-22 Return on Equity (ROAE), % 10.9 15.7 13.1* Return on Assets (ROAA), % 1.39 2.1 1.8* Liquidity Coverage Ratio, % 542 504 170 Cost/ Income Ratio, % 57.1 62.1 57.8 Net Loans to Deposit Ratio, % 68.8 68.0 67.4 Tier I Capital Adequacy Ratio, % 16.45 18.08 17.36 Tier II Capital Adequacy Ratio, % 19.65 20.75 19.35 Earnings Per share, RWF *June-2022 data computed based on annualized PBT I&M Rwanda - H1 2022 Earnings Presentation 4.72 6.61 5.60 11#12Index 1 Operating context & Business Highlights 2 Financial Review Account Opening 3 Strategy Update & Outlook I&M Rwanda - H1 2022 Earnings Presentation 05 Teller 04 07 Teller Teller 06 M#13Continue to be guided by our iMara 2.0 strategy & maintain a strong underlying performance across all business segments Strategy Highlights Executing our MSME strategy; +2,247 new businesses (50% YoY growth) Revenue diversification Strategic initiatives continue to gain strength with a 10% contribution to the total net revenue of the bank with outstanding results from MSME buildout, Bancassurance business line, and digital channels. Implementation of enterprise risk management systems automation and digitization of key customer processes with I&M Leading with an end-to-end digital customer online onboarding. Roll-out of AML platform, IFRS 9 modelling system & Corporate loan origination system Net promoter Score: 93% YTD Digital Channels: 75% of the Bank's transactions are done on alternative channels 400+ Merchant acquiring terminals SPENN: 370K users (as of end June 2022) on the platform SPENN: 3000+ loans disbursed through SPENN micro-lending product. Corporate Banking Business Banking Retail Banking 125.2 33.8 80.3 129.1 131.4 215.9 240.8 Loans Deposits ■Dec-21 ■Mar-22 ■Jun-22 34.0 34.7 26.3 25.5 Loans Deposits ■Dec-21 ■Mar-22 ■Jun-22 79.6 78.4 65.4 63.4 Loans ■Dec-21 Deposits ■Mar-22 Jun-22 257.8 28.4 65.9 I&M Rwanda - H1 2022 Earnings Presentation 13#14We reiterate our 2022 main targets Portfolio Growth; Diversifying loan book with focus on MSMEs and Retail Banking and maintaining good asset quality. Revenue diversification; Leverage on strategic partnerships to capitalize on market opportunities. Digital & Customer Experience; leverage our digital channels to enable more complex sales and service capabilities Cost management Roll out cost containment initiatives I&M Rwanda - H1 2022 Earnings Presentation 14#15Outlook: What Success will look like in 2022 70,000 Customers Portfolio structure 52% Active customers on digital channels: from 70% to 73% USD 5.5 Mn PBT: Fees & Commission Income USD 13Mn Card uptake: from 55% to 66% TNR Market share 10.9% Dormancy: from 25% to 15% NFR Ratio: from 31% to 33% 13% 12% 33% 8% Retail ISME Return on Equity Corporate 15% I&M Rwanda - H1 2022 Earnings Presentation 2020 2021 2022 15#16APPENDIX I&M Rwanda - H1 2022 Earnings Presentation Account Opening 05 Teller 04 Teller 07 Teller 06 M#171963 I&M Rwanda' JOURNEY 2003: The Government of Rwanda increased the share capital to Frw 7.6 Bn and BCR became 86.8% owned by the Government of Rwanda. 2004: Actis acquired 80% share in BCR after a recapitalization. Banque Commerciale du Rwanda (BCR) was incorporated as the first commercial Bank in Rwanda. 2003-4 I&M Rwanda - 2021 Earnings Presentation 2012 I&M Bank enters Rwanda with the acquisition of a majority shareholding in BCR, in consortium with Proparco and DEG. I&M Bank Rwanda is listed on the Rwanda Stock Exchange (RSE) 2017 2018 Digitalization journey - Launch of new core banking systems. 17#18The I&M Group PLC | Our organization structure I&M Realty Ltd 100% I&M Group PLC I&M Burbidge Capital Ltd 65% I&M Capital Ltd 100% Investment & Mortgages Nominees Ltd 100% Bank One Ltd 50% I&M Bank Ltd 100% Kenya Tanzania Rwanda Mauritius Uganda I&M Burbidge Capital (U) Ltd 100% I&M Group Plc is listed on the Nairobi Securities Exchange (NSE) and I&M Bank (Rwanda) Plc is listed on the Rwanda Stock Exchange Limited (RSE) I&M Bank (T) Ltd 77.80% I&M Foundation Youjays Insurance Brokers Ltd 100% I&M Rwanda - H1 2022 Earnings Presentation BCR Investment Co. Ltd 100% Giro Ltd 100% I&M Bank (Uganda) Ltd 90% I&M Bank (Rwanda) Plc 54.47% I&M Bancassurance Intermediary Ltd 100% 18#19in Thank you I&M Bank (Rwanda) PLC KN 03 Ave, 9 P.O. BOX 354 Kigali, Rwanda E: [email protected] T: +250 788 16 2040 Classification: Public Account Opening 05 Teller 04 T 07 Teller Teller 06