#1ACCESS BANK PLC Q1'15 Results Presentation to Investors & Analysts April 2015#2Disclaimer access >>> The information presented herein is based on sources which Access Bank Plc (the "Bank") regards dependable. This presentation may contain forward looking statements. These statements concern or may affect future matters, such as the Bank's economic results, business plans and strategies, and are based upon the current expectations of the directors. The information is subject to a number of risks and uncertainties that might cause actual results and events to differ materially from the expectations expressed in or implied by such forward looking statements. Factors that could cause or contribute to differences in current expectations include, but are not limited to, regulatory developments, competitive conditions, technological developments and general economic conditions. The Bank assumes no responsibility to update any of the forward looking statements contained in this presentation. The information should not be interpreted as advice to customers on the purchase or sale of specific financial instruments. Access Bank Plc bears no responsibility in any instance for loss which may result from reliance on the Information. Access Bank Plc hold copyright to the Information, unless expressly indicated otherwise or this is self-evident from its nature. Written permission from Access Bank Plc is required to republish the information on Access Bank or to distribute or copy such information. This shall apply regardless of the purpose for which it is to be republished, copied or distributed. Access Bank Plc's customers may, however, retain the Information for their private use. Transactions with financial instruments by their very nature involve high risk. Historical price changes are not necessarily an indication of future price trends. Investors are encouraged to acquire general information from Access Bank Plc or other expert advisors concerning securities trading, investment issues, taxation etc in connection with securities transactions. The Information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by the Bank. Any person at any time acquiring the securities must do so only on the basis of such person's own judgment as to the merits of the suitability of the securities for its purposes and only on such information as is contained in public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained herein. The information is not tailored for any particular investor and does not constitute individual investment advice. ©2015 ACCESS BANK PLC#3Outline > Overview of Access Bank ➤ Operating Environment ➤ Group Financial Performance Review > SBU Performance Review > Outlook for Q2'15 ©2015 ACCESS BANK PLC access>>>> 2#4The Bank at a Glance Parent Access Bank Plc is licensed by the Central Bank of Nigeria as an International Bank Subsidiaries 7 Banking Subsidiaries Channels access>>>> Number of Employees 3,572 Professional staff Credit Rating nga STANDARD & POOR'S RATINGS SERVICES AA- Fitch Ratings A- Agusto & Co A+ GCR A+ 367 1,108 9,269 Branches ATMs POS Awards & Recognition Total Equity 22.9bn Ordinary shares in issue of 50 kobo each Listings Nigerian Stock Exchange London Stock Exchange (Eurobond) Risk Management Award 2013 African Banker's Award 2013 The Banker DEALS OF THE YEAR 2012 M&A Winner in Africa 2012 FT IFC FINANCIAL TIMES International Finance Corporation Morel Blank Ga FT/IFC Sustainable Bank of the Year 2011 ©2015 ACCESS BANK PLC 3#5Geographical Distribution Sierra Leone Ownership interest: 97% • PBT: N61mn Branches: 4 ROE: 18% Equity:N1.4bn Gambia . Ownership interest: 64% • PBT: N73mn United Kingdom • • • Ownership interest: 100% PBT: N455mn Branches: 2 • ROE: 11% Equity:N16.9bn • Branches: 5 • ROE:16% Equity:N1.9bn Ghana • Ownership interest: 92% • PBT: N1.8bn • Branches: 34 • ROE: 43% • Equity:N16.6bn ©2015 ACCESS BANK PLC Congo • • • • Ownership interest: 74% PBT: N99mn Branches: ROE:12% Equity:N3.2bn Nigeria • • • • Parent Company PBT: N14bn Branches: 307 ROE: 19% Equity:N295bn Zambia • Ownership interest: 92% Rwanda Ownership interest: 75% • PBT: N16mn • Branches: 5 • ROE: 2% • Equity:N2.9bn access>>>> China . PBT: N83mn Rep Office • Branches: 7 • ROE: 12% • Equity: N2.6bn#6Outline Overview of Access Bank ➤ Operating Environment ➤ Group Financial Performance Review > SBU Performance Review > Outlook for Q2'15 ©2015 ACCESS BANK PLC access>>>> 5#7Domestic Operating Environment access>>> Mar 14 June 14 Sept 14 Dec 14 Mar 15 6.5 6.2 6.2 5.94 GDP Growth 5.26f Rate (%) 8.5 8.2 8.0 8.0 Inflation Rate 7.8 Y/Y (%) 113.1 110.2 115.0 Crude Oil Price 63.1 57.5 USD/Barrel FX Rate 159.8 164.9 162.9 192.1 197.0 Interbank (#/$) 15.1 13.2 13.0 11.1 11.3 Average 30-Day NIBOR Rate (%) 12.7 13.1 10.8 10.5 10.0 Money Market Rate¹ (%) Note: Call rate was used as an indicator for the Money Market Rate Source: CBN, Nigerian Bureau of Statistics (NBS), Financial Derivatives, Trading Economics, BMI ©2015 ACCESS BANK PLC The Nigerian Economy GDP growth declined to 5.9% in Q4'14, from 6.2% in Q3'14. Slowed growth resulted mainly from non-oil sector which grew by 6.44% in Q4 compared to 8.78% in Q3'14. GDP is expected to increase by 5.26% in Q1'15 Inflation rate increased for the fourth consecutive month to 8.5% in March 15 largely due to rise in the prices of food. Core sub index increased by 50bps to 7.5% y/y while food index was 9.4% ➤ Average Bonny Light oil price declined to $57.5/barrel from $63.1/barrel in FY 2014 due to increase in shale production in the US leading to a supply glut in the international market >> FX rate at the interbank market increased from N192.1 in Dec 2014 to N197 due to the devaluation of the naira and significant reduction in foreign inflows Banking Industry MPC unanimously agreed to retain MPR at 13%; CRR on private sector deposits at 20%; CRR on public sector deposits at 75%; and liquidity ratio at 30% CBN released FX prudential guidelines, adjusted Bank's allowable Net open FX position and closed the RDAS windows resulting in a tacit devaluation in order to stabilize the naira by Due to pressure from the drop in crude oil prices, the Naira depreciated by 7.9% in Q4 2014, from N155.3/$ to N168/$ despite the Central Bank's effort to defend the naira 6#8Outline Overview of Access Bank ➤ Operating Environment > Group Financial Performance Review > SBU Performance Review > Outlook for Q2'15 ©2015 ACCESS BANK PLC access>>>> 7#9Key Messages Strong earnings growth access >>> Significant increase in gross earnings from N57.3bn in Q1'2014 to N76.8bn in Q1'2015 largely driven by strong contribution of non interest income Cost efficiency Cost to Income Ratio (CIR) improved to 62.2% in Q1'15 from 64.9% in Q4'14 (Q1'15: 64.6%) largely driven by revenue uplift. The bank will continue to optimize its resource base while growing revenue Asset quality NPL ratio reduced from 2.2% in Dec'14 to 2.1% in Mar'15, reflecting the bank's continued improvement in assets quality Improved profitability ratios Improved profitability across key metrics. Return on Equity (ROE) increased to 19.2% in Q1'15 (Q4'14: 11.3%) while Return on Asset (ROA) also increased by 110 bps to 3.1% Improvement in bottom line reflects revenue growth and effective cost control ©2015 ACCESS BANK PLC 8#10Key Performance Highlights 1 2 access>>>> Q1'15 Q1'14 %A Gross Earnings (N'bn) 76.8 57.3 34.0 Operating Income (N'bn) 54.0 42.3 27.7 Profitability Impairment Charges (N'bn) (3.9) (1.5) 155.5 PBT (N'bn) 16.5 13.4 23.0 EPS (kobo) 60 53 17.1 Cost to Income (%) 62.2 64.6 Mar'15 Dec 2014 %A Total Assets (N'bn) 2,136 2,104 2 Shareholders' Fund (N'bn) 291 277 5 Balance Sheet Customers' Deposits (N'bn) 1,395 1,454 -4 Loans & Advances (N'bn) 1,153 1,123 3 Q1'15 FY'14 A 3 Capital Adequacy (%) 19.6 18.4 +1.2 Prudential & Liquidity Ratio (%) 34.5 36.0 -1.5 Performance Ratios Loans to Deposit (%) 73.7 71.4 +2.3 After tax ROAE (%) 19.2 16.5 +2.7 ©2015 ACCESS BANK PLC 9#11Statement of Comprehensive Income Underlying in N'M Q1'15 Q1'14 Q1'13 y/y %A Gross Earnings 76,780 57,319 52,538 34 Interest Income 46,414 39,627 33,936 17 Interest Expense 22,822 15,228 16,946 50 Net Interest Income 23,592 24,399 16,990 (3) Non-Interest Income 30,366 17,639 18,406 72 Operating Income 53,958 42,038 35,396 28 Impairment Charges (3,868) (1,514) 417 155 Operating Expenses 33,573 27,149 24,849 24 Profit Before Tax 16,517 13,428 11,150 23 Profit for the period 13,667 12,118 9,621 13 ©2015 ACCESS BANK PLC access>>>> Comments Gross earnings increased y/y by 34% to N76.8bn in Q1'15 (Q1'14: N57.3bn) Interest income increased by 17% y/y to N46.4bn, largely driven by the size of the loan portfolio and improved yield on fixed income securities Interest expense increased to N23bn (Q1'14 N15bn) due to increased regulated interest payments on deposits, reduced market liquidity and impact of the Eurobond on the overall funding cost ➤ Net interest income reduced by 3% to N23.6bn in Q1'15 due to significant growth in interest expense > Non-interest income grew by 72% to N30.4bn as a result of increased net gains in financial instruments classified as held for trading Profit before tax increased significantly by 23% to N16.5bn in 2015 largely due to strong contribution of interest income and non- interest income 10#12Profitability In N'bn 19.4% 19.5% 17.0% access>>>> 19.2% 16.5 15.0 11.3% 13.4 13.7 10.3 2.9% 2.8% 2.9% 3.1% 2.0% Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 PBT ROAA ROAE Comments PBT increased 23% y/y and 61% q/q to N16.5bn in Q1'15 Key drivers: 17% growth in interest income from loans and advances due to the size of the loan portfolio and improved yield on fixed income securities 72% growth in non interest income resulting from increased net gains in financial instruments classified as held for trading and fixed income securities Improvement in ROE and ROA q/q to 19.2% and 3.1% respectively ©2015 ACCESS BANK PLC 11#13Revenue Gross Earnings y/y (N'bn) access>>>> 76 76 Gross Earnings Distribution by Geography 64 64 60 58 39% 30 25% 16 30% 19 27% 16 31% 18 69% 40 73% 44 75% 48 70% 45 61% 46 Q1'14 Q2'14 Q3'14 Interest Income Q4'14 Non Interest Income 2% Q1 '15 7% 2% 5% 6% 1% Q1 '14 88% 89% Q1'15 ■■ Nigeria Ghana UK ■■Rest of Africa Gross Earnings Distribution by Business Segment Q1'15 38% 38% 9% 6% Q1'14 15% 15% 41% 38% ■■CIBD ■■CBD BBD ■■ PBD ©2015 ACCESS BANK PLC Comments Gross earnings increased significantly by 34% y/y to N76bn in Q1'15 driven largely by 72% growth in non interest income ➤ Earnings from Access Bank UK and Ghana grew by 138% and 93% respectively Contribution to gross earnings from the business banking division increased from 6% in Q1'14 to 9% in Q1'15 12#14Earings Mix Net Interest Income (N'bn) 12.3% 12.9% 11.7% 11.4% 11.5% 7.0% 6.8% 7.3% 6.1% 5.9% 4.7% 3.9% 4.8% 4.7% 5.1% 24 24 27 24 24 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Net Interest Income COF -NIM -YOA Non Interest Income (N'bn) 40% 31% 29% 31 27% 4 24% 18 18 17 4 3 10 Q1'14 Q2'14 5555 735 9 15 1 17 11 10 6 Q3'14 Q4'14 Q1'15 Fees and Commission Other Income ©2015 ACCESS BANK PLC Trading income ⚫NIR/Revenue access>>>> Comments Net interest income at N24bn (Q1'14: N25bn) Net interest income declined by 3% y/y and 2% q/q to N24bn in Q1'2015 Net Interest Margin (NIM) reduced by 20bps to 5.9% in Q1'15 from 6.1% in Q4'14 Key drivers: Increase in the funding cost due to interest payments on the Eurobond and increase in money market rates on deposits Increase in the volume of lower yielding foreign currency loans in the portfolio Non interest income (NII) contributed significantly to the earnings mix with a 63% increase q/q and 72% increase y/y to N30.4bn in Q1'2015 Key drivers: Significant improvement in foreign exchange income from N3.1bn in Q1'14 to N15.2bn Q1'15 driven by gains on fair value valuation of the derivative instruments Improved yield from fixed income securities 13#15Operating Expenses & Impairment Charges access >>> 1. Operating Expenses (N'bn) 64.6% 64.9% 62.2% 62.1% 57.0% 34 28 27 25 22.3 24 14.0 17.6 15.2 15.7 4.2 2.4 2.1 2.2 2.3 7.5 7.9 9.6 8.9 6.4 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Personnel Depreciation Other Expenses 1 Impairment Charges (N'bn) Cost to Income 1.6% 1.4% 1.2% 1.0% 0.2 0.3 0.5 0.9 0.1% 4.5 3.2 3.0 3.0 1.2 0.3 Q1'14 Q2'14 Impairment on Loans Cost of Risk Q3'14 Q4'14 Q1'15 Impairments on other Assets Comments Operating expenses grew by 21% q/q and 24% y/y to N33.6bn Key drivers y/y: 19% increase in personnel expenses due to increase in the number of staff across branches to ensure effective customer engagement in the retail segment Increase in the AMCON surcharge due to increase in asset base Increase in branding and communications expenses to support our retail business Increase in software maintenance, e-channels maintenance and communication expenses to improve service delivery Naira devaluation and depreciation Cost to Income Ratio (CIR) improved to 62.2% in Q1'15 from 64.9% in Q4'14 largely driven by revenue uplift. The Bank will continue to optimize its resource base while growing revenue Impairment on loans declined by 34% q/q to N3.0bn in Q1'15 from N4.5bn in Q4'14 leading to a 60bps reduction in cost of risk to 1.0% The Bank will continue to monitor and improve quality of its risk assets to minimize impairment loss Other operating expense includes: Professional fees, Insurance, General administrative expenses, Other premises and equipment costs etc ©2015 ACCESS BANK PLC 14#16Group Statement of Financial Position Underlying in N'B Mar'15 Dec'14 Mar'14 ytd% Cash and Cash Equivalents 382 405 494 (6) Trading & Pledged Assets 186 140 96 32 Loans & Advances 1,148 1,123 872 2 Investment Securities 231 270 273 (14) Fixed Assets & Intangibles 76 75 70 1 Deferred Tax Assets 11 11 11 (1) Other Assets 102 80 93 28 Total Assets 2,136 2,104 1,910 2 Deposits from Banks 169 119 72 42 42 Deposits from Customers 1,395 1,454 1,404 (4) Interest Bearing loan 82 80 119 3 Debt Securities 145 138 56 5 Other liabilities 54 35 60 55 Total Liabilities 1,845 1,827 1,654 1 Equity 291 277 256 5 Total Equity & Liabilities 2,136 2,104 1,910 2 ©2015 ACCESS BANK PLC Comments access>>> > Loans and Advances stood at N1.15 trillion in March 15 (Dec'14: N1.12 trillion) ➤ Trading assets grew by 32% ytd to N186bn in the period driven by significant investments in high yield government securities > Investment securities declined by 14% ytd due to the disposal of a significant portion of securities classified as available for sale Deposits from banks increased by 42% largely driven by outstanding trade-related obligations to foreign banks Customers deposits reduced by 4% to N1.4 trillion largely due to the replacements of expensive deposits to reduce overall funding cost 15#17Asset Quality Loans & Advances (N'bn) access>>>> Loan Analysis by Currency (N'bn) 71.4% 73.7% 67.7% 59.1% 61.5% 25% 44% 46% 45% 44% 1,080 1,123 1,153 949 75% 872 56% 54% 55% 56% Mar'14 Jun'14 Sep'14 Loans and Advances (bn) Assets Quality (N'bn) Dec'14 Mar'15 Jun'13 Dec'13 Jun'14 Dec'14 Mar'15 LDR ■LCY FCY 165% 27.3 154% 139% 116% 114% 25.3 24.6 24.3 23.5 2.7% 2.5% 2.5% 2.2% 2.1% Mar'14 Jun'14 Sep'14 Dec'14 Mar'15 NPL (N'bn) NPL Coverage NPL % ©2015 ACCESS BANK PLC Comments LDR increased to 73.7% in March 2015, up 230bps from 71.4% in Dec'14. Increase in LDR was driven by the 4% reduction in customer deposits in the period as loan grew marginally by 3% Sustained reduction in NPL ratio to 2.1% driven by the Banks enhanced facility monitoring system and quality obligors Foreign currency exposure reduced to 44% of the total loan exposure Coverage Ratio (with regulatory risk reserve) increased to 165% in Mar'15, adequate provisions are made on classified assets 16#18Assets Diversification and Quality Loans NPL Loan distribution by Sector Sector Mar'15 Dec'14 Mar'15 Dec'14 15.3% 11.1% Oil & Gas- Downstream 11.1% 11.3% 34.6% 35.1% 5.9% 5.2% 1.9% 6.4% 6.8% 15.8% 3.1% 8.9% Oil & Gas - 5.6% 5.6% 5.6% 7.8% Upstream Oil & Gas - 6.2% 7.8% 7.9% 4.1% 4.3% Services Other 6.2% 6.7% 1.7% 1.6% Manufacturing Gen. Commerce 15.8% 15.1% 18.2% 18.0% Info & Com. 8.9% 9.9% 27.7% 27.5% NPL distribution by Sector 1.1% Government 3.1% 4.9% 8.4% Real Estate 6.8% 5.9% 0.9% 0.9% 18.2% 3.3% Construction 6.4% 5.8% 3.3% 3.3% 0.9% Finance & 1.9% 2.0% Insurance 34.6% Transportation 5.2% 4.2% 1.1% 1.1% 1.7% 27.7% Steel 5.9% 5.9% Others1 15.3% 14.8% 8.4% 8.2% ©2015 ACCESS BANK PLC access >>> Comments > NPL reduced to 2.1% in Mar'15 The top 3 segments that contribute to NPL are Oil & Gas downstream, General Commerce and Info. & Communications > The Bank remains focused on continuous mitigation of its exposure to unforeseen shocks by prioritizing asset quality through our diligent and systematic approach to risk management 1 Included in others are: Capital Market, Agriculture etc. 17#19Deposit Mix Customer Deposits (N'bn) 1,404 1,451 1,479 1,454 1,395 39% 544 42% 618 40% 592 43% 629 40% 555 8% 113 8% 8% 111 117 9% 129 9% 131 53% 746 50% 722 52% 769 48% 696 51% 709 Mar'14 Comments Deposits by Region 3% 2% 5% Q1'15 2% 2% Dec '14 access>>> 91% 91% Jun'14 Sep'14 Dec'14 Mar'15 Nigeria ■■ UK Ghana Rest of Africa ■ ■ Demand ■■Savings Term Customer deposits reduced by 4% to N1.4 trillion largely due to the replacement of expensive deposits to reduce funding cost Deposits mix improved with low cost deposits accounting for 60% of the total deposits base (Dec'14: 56% low cost deposits) Improved deposits contribution from subsidiaries with Ghana and Rest of Africa contributing 5% and 3% respectively in Q1'2014 ©2015 ACCESS BANK PLC 18#20Capital Base Risk Weighted Assets (N'bn) 37% 37% 34% 36% 35% 20% 21% 20% 18% 20% Liquid Assets access>>>> Q1'15 33% 31% 20% 22% Dec '14 16% 7% 1,245 1,369 1,519 1,687 1,616 33% 38% T Mar'14 Jun'14 Sep'14 Dec'14 Mar'15 ■■Cash & Equivalent ■■ Treasury Bills Government Bonds Other RWA Capital Adequacy -Liquidity Comments ➤ Liquidity ratio declined marginally by 140bps to 34.6% in Mar'15 from 36% in Dec'14 Risk weighted assets (RWA) declined by 4.3% y/y to N1,616bn, reflecting the Bank's focus on optimizing balance sheet Capital Adequacy Ratio (CAR) of 19.6% in the period (Dec, 2014: 18.4%). Capital Adequacy is well above the minimum requirement. The Bank has taken necessary steps to enhance capital in order to exploit market opportunities in key sectors of the economy ©2015 ACCESS BANK PLC 19#21Outline Overview of Access Bank ➤ Operating Environment ➤ Group Financial Performance Review > SBU Performance Review > Outlook for Q2'15 ©2015 ACCESS BANK PLC access>>>> 20 20#22Business Segmentation Corporate & Investment Segments focus Multinational and well-structured large companies (turnover > N20 billion) Comprised of nine segments Cement and Construction Segment Highlights • Over 500 Customers Banking Division Commercial Banking Division Business Banking Division Communications Manufacturing Financial Institutions access>>>> Loans N518bn Deposit PBT N293bn N11.8bn • Oil & Gas Loans: N518bn Transportation Upstream Oil & Gas Agriculture • Deposit: N293bn • PBT:N11.8bn Dec'14: N568bn Dec'14: N305bn Q1'14:N5bn Incorporated companies with turnover of N1 billion and above Customer segments include: Federal, State and Local Government MDA's Corporate and Investment Banking Value Chain Asian Companies Local corporates Companies, and Small and Medium Enterprises ("SMES") with annual turnover < N1 billion Products tailored to cater to small and other types of fairly unstructured businesses Personal Banking Division The division focuses on the following customer segments Affluent professionals Employees in the value chain Informal traders High Net-worth Individuals (HNI) Ultra-High Net-worth Individuals (UHNI) ©2015 ACCESS BANK PLC N558bn N582bn N6.7bn Over 170,000 Customers • Loans: N558bn • Deposit: N582bn 00 • PBT:N6.7bn Dec'14: N483bn Dec'14: N638bn Q1'14: N6bn Over 300,000 Customers N34bn N182bn (N1.9bn) Loans: N34bn Deposit: N182bn Loss:N1.9bn Dec 14: N32bn Dec 14 N174bn Q1'14:(N2bn) N32bn N338bn (N112mn) • Students Pensioners Over 5.6m Customers Loans: N32bn • Deposit: N338bn Loss:N112mn Dec'14: N27bn Dec'14: N337bn Q1'14:N1bn 21#23Outline Overview of Access Bank ➤ Operating Environment ➤ Group Financial Performance Review > SBU Performance Review > Outlook for Q2'15 ©2015 ACCESS BANK PLC access>>>> 222 22#24Outlook for Q2'15 Enhanced retail franchise access >>> Intensify customer acquisition across retail segments Drive collections across the value chain of top corporates and commercial banking customers Grow low cost deposits to reduce cost of funds Channels optimisation Integrate front-to-back processes to reduce transaction times and improve operational and cost efficiency Entrench digital banking culture to transform customer experience and provide easy access to channels Enhance the bank's market share across ATM, POS, Retail and Corporate Internet banking Operational efficiency Optimise branch processes to improve service delivery and minimize process lead times Improve branch productivity through better customer engagement Continued focus on cost optimization as the Bank seeks to achieve a CIR of < 60% by year- end 2015 Capital raise completion Obtain regulatory approval to complete Right Issue process Distribute share certificates to investors List new shares on the Nigerian Stock Exchange ©2015 ACCESS BANK PLC 23#25Disclaimer access >>> The information presented herein is based on sources which Access Bank Plc (the "Bank") regards dependable. This presentation may contain forward looking statements. These statements concern or may affect future matters, such as the Bank's economic results, business plans and strategies, and are based upon the current expectations of the directors. They are subject to a number of risks and uncertainties that might cause actual results and events to differ materially from the expectations expressed in or implied by such forward looking statements. Factors that could cause or contribute to differences in current expectations include, but are not limited to, regulatory developments, competitive conditions, technological developments and general economic conditions. The Bank assumes no responsibility to update any of the forward looking statements contained in this presentation. The information should not be interpreted as advice to customers on the purchase or sale of specific financial instruments. Access Bank Plc bears no responsibility in any instance for loss which may result from reliance on the Information. Access Bank Plc hold copyright to the Information, unless expressly indicated otherwise or this is self-evident from its nature. Written permission from Access Bank Plc is required to republish the information on Access Bank or to distribute or copy such information. This shall apply regardless of the purpose for which it is to be republished, copied or distributed. Access Bank Plc's customers may, however, retain the Information for their private use. Transactions with financial instruments by their very nature involve high risk. Historical price changes are not necessarily an indication of future price trends. Investors are encouraged to acquire general information from Access Bank Plc or other expert advisors concerning securities trading, investment issues, taxation etc in connection with securities transactions. The Information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by the Bank. Any person at any time acquiring the securities must do so only on the basis of such person's own judgment as to the merits of the suitability of the securities for its purposes and only on such information as is contained in public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained herein. The information is not tailored for any particular investor and does not constitute individual investment advice. ©2015 ACCESS BANK PLC 24#26access>>>>