#1A AMERIABANK e#bankab Investor Presentation bankab eople#bDecember 31, 2023 eople#bankaboutpeople #bankaboutpeople #bankabou#21. Ameriabank at a Glance 2. 2023 Q4 Snapshot 3. 2023 Q4 Financial Results 4. Strategy Highlights 5. Appendices 01 Investor Presentation | Ameriabank.am Λ#3Improving the quality of life 1 A leading bank in Armenia A leader in the market by key financial indicators 4 for almost a decade, offering a window onto the whole Armenian Economy 2 Omni channel distribution platform with focus on digital products and ecosystems 5 Offloading rate* of 98%, cash offloading rate** of 85%, online banking penetration rate of 72%, rapidly increasing number of monthly active users 3 Superior customer and employee experience High service quality and customer satisfaction scores, high employee satisfaction and engagement levels, proven leadership by culture and values 6 02 2 Best in class ESG practices Doing business responsibly and promoting ESC culture, first Green Bond issuer in the country, best practice corporate governance, professional Board and experienced management team Robustness and resilience with significant growth potential Sustaining decent performance during challenging times, post-pandemic accelerated growth and enhanced financial performance, with record high profitability Attractive macro fundamentals Emerging economy, with proven resilience towards crises and external shocks, double digit GDP growth, lowest inflation in the region Investor Presentation | Ameriabank.am * Offloading rate or Branch offloading rate - share of transactions performed via distance and digital channels in the total number of bank's transactions. "Cash offloading rate share of cashless transactions performed via distance and digital channels (IB, MB, POS/VPOS) in the total number of transactions Λ#4The Leading Bank in Armenia Overview • The leading universal bank in Armenia, offering corporate, investment and retail banking services • Major contributor to the Armenian banking sector development • Ongoing appreciation and quality recognitions by reputable global institutions Highest possible credit ratings within current sovereign rating constraints largest ATM network in the capital 26 branches 1,812 employees largest network of VPOS terminals in the country one of the largest networks of POS terminals in the country Ownership Structure Afeyan foundation for Armenia inc. ESPS Holding LTD 12.1% 7.5% har gemakers aboutch ersbankab kaboutch angemake sbankab tchangemakersbankaboutchand makaboutchangem sba aboutch akkabokabou banchang gougemangem nger ersb about ADB 13.9% ano EBRD 17.7% sbankab 03 Investor Presentation | Ameriabank.am Imast Group (CY) LTD 48.8% NPS 79.0% S&P BB- CEI* 9.8 Moody's Ba3 Liabilities 15.7% Market share Assets 15.3% Market share Equity 13.2% Market share Loans 19.6% Market share Net Profit 18.0% Market share * Client Experience Index with max possible value of 10 Λ#51. Ameriabank at a Glance 2. 2023 Q4 Snapshot 3. 2023 Q4 Financial Results 4. Strategy Highlights ம் 5. Appendices 04 40 Investor Presentation | Ameriabank.am Λ#62023 Q4 Achievements as of 2023 Q4 985 B Loans* of AMD 1,410 B Assets of AMD 1,214 B Liabilities of AMD 1,026 B 196 B 46.1 B Deposits** of AMD Equity of AMD Profit of AMD Named Best Bank for Digital Solutions in Armenia for 2023 by Euromoney • High profitability with ROE of 25.6% and RoA of 3.5%. High growth of loan portfolio (up by 33% YoY) with steadily robust asset quality (NPL ratio of 1.9%). . Online banking penetration rate reached 72%, up by 9pp YoY. NPS reached 79.0%, while CEI*** comprised 9.8. EUROMONEY AWARDS FOR EXCELLENCE 2023 05 Investor Presentation | Ameriabank.am * net of impairment allowances and including TF ** Current Accounts, Time Deposits and Bonds *** Client Experience Index with max possible value of 10 Λ#7Strategic Milestones Ameriabank set to join Bank of Georgia Group PLC, an LSE listed financial group BANK OF GEORGIA GROUP PLC . An agreement has been reached for Ameriabank to join Bank of Georgia Group PLC ("BOGG" or the "Group"), with the latter conditionally purchasing 100% of shares of Ameriabank (the "Transaction"). 90% of the shares is being purchased immediately, with the European Bank for Reconstruction and Development ("EBRD") retaining their 10% shareholding in Ameriabank. The Transaction is subject to approval by the shareholders, as well as regulatory bodies, including the Central Bank of Armenia. Following the closing of the Transaction and with Ameriabank on board, BOGG will be rebranded to mark a new chapter in its development. Ameriabank will operate as a stand-alone entity within the Group, maintaining its brand and corporate identity. Rationale Access to capital Access to international capital markets with a FTSE 250 constituent as a parent company Upside potential An upside potential by leveraging BOGG's experience in the future growth Regional synergies An affiliate company in a neighboring country opening prospects for regional projects and business development 06 Investor Presentation | Ameriabank.am Λ#850 07 1. Ameriabank at a Glance 2. 2023 Q4 Snapshot 3. 2023 Q4 Financial Results 4. Strategy Highlights 5. Appendices Investor Presentation | Ameriabank.am Λ#9Core Business Loan portfolio bln AMD 949 Loans to +33% +10% 714 649 419 corporates 39% +27% 262 +26% 330 +38% 530 -1% 387 384 2021 2022 2023 Retail loans Corporate loans Deposits and bonds* bln AMD Loan portfolio breakdown Loans to Highlights The bank is the largest lender to the Armenian economy, with 33% YoY growth of loan book. Total loans' market share reached 19.6%, up by 2pp. Both Corporate and Retail loan portfolios registered strong growth, increasing by 38% and 27% YoY respectively. High share of retail and SME loans (61%) in line with the Bank's universal banking model. individuals Total deposits and bonds increased by 17% YoY due to both time and demand deposits growth. Retail deposits and and SME bonds increased by 29% despite uncertainties deriving from 61% current geopolitical situation. Corporate deposits and bonds bln AMD Retail deposits and bonds bln AMD 359 366 +2% 629 1,026 +25% 2 +17% 286 +23% 876 118 9 89 +29% 85 16 +52% 134 +25% 488 54 712 92 -16% 392 253 387 105 61 111 297 +30% 209 +21% +2% +12% 291 186 261 +59% -12% 230 +29% +57% 486 +7% 520 164 291 +55% 225 309 145 2021 Demand deposits Bonds in local market 2022 2023 Time deposits 2022 2023 2021 2022 2023 2021 Time deposits Demand deposits Time deposits Demand deposits Bonds in local market Bonds in local market 08 Investor Presentation | Ameriabank.am * Bonds in the local market include bonds issued in the local market and sold to Retail and Corporate clients, as well as Fls Λ#10Assets and Liabilities Structure Assets bln AMD Liabilities and equity +13% +14% bln AMD 1,410 +13% 1,252 +14% 1,097 196 172 +14% 129 +33% 1,410 1,252 1,097 1,080 +12% 1,214 968 +12% 2021 2022 2023 2021 2022 2023 TOTAL LIABILITIES EQUITY Structure of assets 4% 7% 9% 10% Loans to customers. Securities Cash and cash equivalent Interbank loans and REPO Other Structure of liabilities .3% 2% 2% 4% 4% 10% 70% 32% 09 Investor Presentation | Ameriabank.am Highlights • Total assets increased by 13% YoY, while equity increased by 14% YoY. Diversified balance-sheet structure with 88% interest earning assets to total assets and 85% customer funds to total liabilities. Maintaining exceptional sectorial diversification of loan portfolio, with balanced exposure to all industries. Loan portfolio stucture 404% 2%1% 1% 4% 4% 43% 4% 5% 8% 38% Demand deposits Time deposits Bonds Loans from IFIS Other liabilities Subordinated debt Loans from CBA Deposits and balances from banks 11% Loans to retail customers Construction 13% Retail trade Real estate Agriculture, forestry and timber Wholesale trade Other Mining-Metallurgy Energy Food and beverage Hotel service Communication. services Transportation Λ#11Corporate and Retail Banking Corporate loans bln AMD Retail loans bln AMD 530 +38% 419 -1% 387 384 162 330 +27% . +26% 124 +41% 262 109 +6% 115 91 +36% +15% 62 • 79 53 +17% +27% +37% 368 41 278 -3% +25% 270 233 +32% 186 141 2021 2022 2023 2021 2022 Large loans | SME loans (Medium business) Mortgages Retail business loans 2023 Consumer loans Finance Lease bln AMD +63% Trade finance (balance / off balance) bln AMD 81 +18% 46 43 +87% -6% 68.5 38.3 23.9 +128% +26% 30.1 23.5 19.9 11 -19% 9 11 -59% 4 +25% -62% 11 2 2021 2022 2023 2021 2022 2023 Finance lease Off-Balance sheet LC's Factoring Off-Balance sheet guarantees Balance sheet LC 10 Investor Presentation | Ameriabank.am • Highlights Corporate loans portfolio registered strong growth of 38% YoY due to both SME and Large loan portfolios. Total SME portfolio reached AMD 224b, increasing by 33.4% YoY. Trade finance total portfolio (balance and off balance) increased by 87% YoY due to high growth of off balance guarantees. Retail loan portfolio recorded 27% growth YoY, with significant growth by all Retail loan types. AMD 419 b retail loans AMD 530 b corporate loans Λ#12Loan Portfolio Quality NPL (Stage 3) Coverage ratio (Stage 3) 84% 3.2% 2.4% 1.9% 77% 83% 2021 2022 2023 2021 2022 2023 Cost of credit risk 11 0.9% 2021 Investor Presentation | Ameriabank.am 0.7% 0.6% 2022 2023 Highlights NPL ratio has improved and dropped to 1.9%. • Cost of credit risk has improved and reached 0.6% 1.9% NPL 0.6% Cost of credit risk 83% Coverage ratio Λ#13Capital Tier 1 Ratio 12 15.2% 14.1% 12.5% Risk Weighted Assets bln AMD • 1,242 971 908 2021 2022 2023 2021 2022 2023 Total Capital Adequacy Ratio 15.3% 17.4% 16.8% 2021 2022 2023 Investor Presentation | Ameriabank.am Highlights Capital adequacy ratios are comfortably above the minimum regulatory requirements. The Bank is committed to maintaining high capital standards in line with the increasing capital buffers timeline. 16.8% CAR Λ#14Funding and Liquidity Sub-debts bln AMD +6% +3% Loans to deposits and borrowings ratio Highlights Loans to deposits and borrowings ratio reached 88%, up by 14pp. are required • Liquidity ratios (LCR & NSFR) comfortably above thresholds (100%). the 27 22 30 28 88% 75% 74% 2021 2022 2023 2021 2022 2023 LCR (Liquidity Coverage Ratio) NSFR (Net Stable Funding Ratio) 148.4% 151.9% 117.4% 143.3% 129.3% 125.5% 13 2021 2022 2023 2021 2022 2023 Investor Presentation | Ameriabank.am * Loans from a pool of designated funds aimed at supporting Armenian private sector (MSME) and channeled through banking system Λ#15Income Interest income bln AMD +18% +33% 86.1 114.8 73.1 +11% +9% 39.7 32.7 35.7 Interest income 2021 Interest expense 2022 2023 Non interest income bln AMD +237% -22% 16.0 14 54.0 42.1 Non interest income 2021 Investor Presentation | Ameriabank.am +25% +49% 75.0 50.5 40.5 Net interest income . • Highlights Net interest income increased by an impressive 49% YoY due to both loans and securities portfolios. The Bank's NIM outperformed the market average by 0.6pp and reached 6.6%, up by 1.2pp. Net non interest income decreased by 33% YoY mainly because of the high base effect due to the one-off exceptionally high income from FX operations in the first half of 2022. +354% -33% NIM (Net Interest Margin) 6.6% +35% +41% 46.1 31.0 5.4% 5.1% 7.9 11.1 10.2 5.9 Non interest expense 2022 Net non interest income 2021 2022 2023 2023 Λ#16Efficiency and Profitability Net profit bln AMD 19.4 +128% +4% CIR (Cost to income ratio) 44.3 46.1 40.6% 40.8% 38.3% 2021 2022 2023 2021 2022 2023 • Highlights Net profit increased by 4% YoY despite unprecedentedly high net profit of 2022. The main drivers were net interest income, as well as fees and commissions. Continuous YoY significant growth of net profit shows the sustainability of underlying factors. Strong profit generation resulted in high profitability ratios, with ROE and ROA standing at 25.6% and 3.5% respectively. The slight increase of the cost to income ratio was mainly due to the growth in personnel expenses, stemming from variable performance-related remuneration accruals.. ROA (Return on Assets) 15 1.8% ROE (Return on Equity) 3.9% 3.5% 16.3% 29.8% 25.6% 2021 2022 2023 2021 2022 2023 Investor Presentation | Ameriabank.am AMD 46.1 b Net profit Λ#171. Ameriabank at a Glance NM 2. 2023 Q4 Snapshot 3. 2023 Q4 Financial Results 4. Strategy Highlights 5. Appendices 16 Investor Presentation | Ameriabank.am Λ#18Strategic Objectives Enhanced efficiency and Absolute Leadership outstanding performance position in Armenia Digital transformation 17 Investor Presentation | Ameriabank.am Drivers Best experience: customer satisfaction and employee happiness Diversification Λ#19Mid-term Targets Mid-term target Actual performance ROE ≥ 18% 25.6% CIR < 40% 40.8% Loan Book YoY Growth double 33.2% digit Market share > 20% 19.6% (by loans) Retail SME YoY Growth double digit 30.6% 18 Investor Presentation | Ameriabank.am Λ#20Customer centric digital ecosystems Omni Channel Distribution Platform with Focus on Digital SME platform sme.ameriabank.am people people about bout people bank bank bank bank about people bank out people bout people people bank people bank bank eople bank about E-commerce people about pe Dant ple bank Housing market estate.ameriabank.am about about about about a people abo yueq Yueq edoad a Yueq about people people ba people bank People b bank about bank bank Automarket automarket.ameriabank.am Online banking penetration rate ↑ 57% YoY ↑ 110% YOY Monthly active users by login 51% Share of Digital sales Cash offloading rate** Mobile and Internet Banking Transactions 98% Offloading rate* 85% 74% 72% 70% 63% 62% 56% 46% 2020 2021 19 Investor Presentation | Ameriabank.am 2022 2023 2020 2021 2022 2023 Share of transactions performed via distance and digital channels in the total number of bank's transactions ** Share of cashless transactions performed via distance and digital channels (IB, MB, POS/VPOS) in the total number of transactions. Λ#21Superior Customer and Employee Experience Best customer experience and high satisfaction scores Digital transformation Current Progress Mid term targets 79.0% ≥ 70% Net Promoter Score (NPS) 9.8 ≥ 9.5 Client Experience Index (CEI) 72% ≥ 75% Online banking penetration rate 85% ≥ 80% Cash offloading rate Employee happiness and well-being 84% Employee satisfaction / happiness index 20 Investor Presentation | Ameriabank.am ≥ 80% Λ#22Best in Class ESG Practices Our Sustainability Strategy Long-term commitment to creating a sustainable environment and supporting customers' transition towards a carbon neutral economy 7 AFFORDABLE AND CLEAN ENERGY Green Bonds Issuance First Green bond issuer in Armenia USD 62 mn* Green bonds issued in total SME solar projects 24% Doing business responsibly and giving back to community Best practice E&S risk management AMD 270 mn allocated in 2023 for CSR purposes Children's healthcare and wellbeing Educational Infrastructure and community development INDUSTRY, INNOVATION AND INFRASTRUCTURE 11 SUSTAINABLE CITIES AND COMMUNITIES 13 CLIMATE ACTION Allocation char nkab utchan gemankaboutchang ngemakersban emakersoutos sbankabo nkabout aboutcha tchan gemak rsban batchangemaker emakers rsbankab Keaboutchan rsbar about Solar stations 47% SHPP 29% 83,172 tons eCO2 emissions avoided Impact** 201,716,237 kwh Estimated annual total clean electricity production 21 Investor Presentation | Ameriabank.am * EUR 42m, AMD 3b, USD 8m **Green Bonds impact for 2023 Λ#231. Ameriabank at a Glance 2. 2023 Q4 Snapshot 3. 2023 Q4 Financial Results 4. Strategy Highlights 5. Appendices: External Environment 22 22 Investor Presentation | Ameriabank.am Λ#24Armenia Country Overview General GDP: 24.2 bn (2023, current $) High Average GDP Growth and Low Inflation 2013-2022 5.8% GDP per capita: 8.17K (2023, current $) 3.6% 3.7% Moody's: Ba3 (stable) 3.3% 3.0% 5.2%→ Fitch: BB- (stable) S&P: BB- (stable) Well Diversified Economy GDP Structure by production* 23.6% 12.7% 12.6% 7.5% 7.6% 7.20% 8.70% 5.2% 8.60% 2.5% 1.4% 1.2% 2.00% 0.2% 5.2% 1.0% -1.4% 2013 2014 2015 2016 2017 2018 2019 2020 GDP real growth, % Inflation, 12m YoY Most Stable Currency in the Region (regional currencies vs USD FX rate dynamics)** 950% 11.1% 850% 750% 650% 5.4% 5.5% 10.7% 550% 450% 8.4% 350% 6.9% 250% 7.4% 8.3% 150% Wholesale and retail trade Manufacturing Financial and insurance activities Construction 50% Net Taxes on products Information and communication. Agriculture, forestry and fishing. Real estate activities Human health and social work activities Other 23 Investor Presentation | Ameriabank.am * most recent 4 quarters Jan-14 May-14 Sep-14 Jan-15 May-15 Sep-15 Jan-16 May-16 Sep-16 Jan-17 May-17 Sep-17 Jan-18 May-18 Sep-18 Jan-19 May-19 Sep-19 Jan-20 AMD, % RUB, % -KZT, % AZN, % GEL, % ** daily rate changes with 2014 January as basis. Source: Bloomberg TRY, % -7.6% 2021 2022 2023 May-20 Jan-21 Sep-20 Sep-21 *May-21 Jan-22 Jan-23 May-22 Sep-22 May-23 Jan-24 Sep-23 Λ#25Armenia Macro Indicators AMD/USD (daily average) AMD/EUR (daily average) 503.8 596.5 435.7 -13.5% 392.4 460.8 -22.7% 424.5 -9.9% -7.9% 2021 2022 2023 2021 2022 2023 CPI (12m) 107.2 2021 6.8 AMD/RUB (daily average) 2021 108.6 2022 -5.3% 24 Investor Presentation | Ameriabank.am 24 6.5 2022 4.7 -28.2% 2023 Economic Activity Index (IEA 12m) 102.0 105.8 114.2 109.5 2023 2021 2022 2023 • Highlights an High economic growth continued throughout 2023, building on extraordinary prior year's growth of 12.6%, with 2023 GDP growth of 8.7% (preliminary data). Economic Activity Index (EAI) reached 9.5% for 2023. The trade and service sectors were primary drivers of this growth, complemented by significant contributions from the industrial and construction sectors. In 2023, inflation decreased significantly, with a notable slowdown beginning in March, with registered deflation for certain months. shifting to deflation from June. After peaking at 8.6 percent at the end of 2022, cumulative inflation fell to 2% during 2023 Core inflation also declined, from an average of 8% in 1Q23 to -0.4% YoY in December. Armenian dram appreciated by 9.9% against US dollar over 2023 vs 2022 (daily average), however, the exchange rate has been stable in recent months Source: Statistical Committee of Armenia, Central Bank of Armenia Λ#26Armenia Macro Indicators International Reserves bln USD Remittances* mln USD +10% +27% -12% 4.11 +146% 5,190 5,696 3.60 3.23 2,109 2021 2022 2023 2021 2022 2023 Current account (BOP)** bln USD Import and export bln USD 12.29 0.36 5.36 3.02 8.77 5.36 8.32 -0.02 -0.05 3Q2021 3Q2022 3Q2023 -2.33 2021 -3.97 -3.41 2022 2023 Import Export Net export 25 Investor Presentation | Ameriabank.am Highlights Foreign trade and remittances increased YoY, with the latter registering moderate growth following last year's surge. The current account deficit increased mostly due to a surge in imports, which is being driven by strong domestic demand, including from international visitors. Source: Statistical Committee of Armenia, Central Bank of Armenia * Remittances include total commercial and non-commercial transfers of physical persons through the banking system. **Updated information is not available yet, *Preliminary results. Λ#271. Ameriabank at a Glance 2. 2023 Q4 Snapshot 3. 2023 Q4 Financial Results 4. Strategy Highlights 5. Appendices: Historic Milestone 26 Investor Presentation | Ameriabank.am Λ#28Our Road to Success 1998 Ameria Advisory was founded by a group of young repatriated professionals 2007 1st bank acquisition deal in Armenia: acquired shares of one of the oldest yet smallest banks in Armenia-Armimpexbank 2010 1st banking merger deal in Armenia: Ameriabank and Cascade bank signed merger deal 2015 USD 30min equity investment by EBRD* USD 50mln sub debt from IFC* 1st published international credit rating (B+ rating with Stable Outlook by Fitch) 2020-2023 1st Green Bond issuer in Armenia BB rating by S&P Total loan book close to AMD 1 tn 2000-2006 Ameria became a GROUP of companies with expanded business lines: Legal and Tax Advisory, Business Advisory, Investment Banking, Asset Management 2008-2009 Rebranded to Ameriabank, unprecedented growth amid global crisis 2011-2014 Became the leading bank in Armenia. Strategic decision to become a universal bank, significantly increasing Retail Banking share 2017-2019 Absolute leader in RA by key financial indicators USD 30min equity investment by ADB in early 2018** Ba3 rating with stable outlook by Moody's B+ rating with stable outlook by S&P 27 Investor Presentation | Ameriabank.am *The largest deal with a Fl in Armenia **the first equity investment of ADB in Armenia Λ#29Our Shareholders 2007-2013 Equity investment from. Diaspora investors to purchase a local bank, as AmeriaGroup (CY) Ltd became the 100% shareholder of Ameriabank CJSC. 2015 EBRD became the first international institution to become a shareholder with investment of USD 30 mn. 2016 ESPS Holding Limited has been established for holding shares of Ameriabank's management team vested by the Employee Share Ownership Plan. 2018 ADB made its first equity investment in Republic of Armenia, joining Ameriabank's shareholders with another USD 30 mn investment. 2020 Afeyan Foundation for Armenia Inc. became a direct shareholder of Ameriabank CJSC in the result of redemption of corresponding shares in Ameria Group (CY) Ltd. EBRD 20.7% ESPS Holding LTD 13.5% makerabani bankaboutenan gen boutohangel Takers rebar abou kabou chang make akers rsban utchangemakersbankab angem ken rebon abou inkaboutal chan EBRD 20.7% kabout tchang emakersbankaboutchan angen about utchane akers make Ameria Group (CY) LTD 100% 28 Investor Presentation | Ameriabank.am Ameria Group (CY) LTD 79.3% kab Ameria Group (CY) LTD 65.8% utchan upu ADB 14.0% ESPS Holding LTD 11.7% bank bankaboutchangemake gemake Mankaboutes kersbo ersbankaboka makers outshangh reban Ingema maken nonsmo sponde wabe outch make m gem kabo ກອງວາມ абир noq EBRD 17.8% Afeyan foundation for Armenia inc. ESPS Holding LTD 12.1% 7.5% outch angemaker rsbanka makersbankab angemoemal versbankaboutch Change boutch anger tchan akersbanking and be noc ADB 13.9% иәби Imast Group Ameria Group EBRD 17.7% (CY) LTD 56.5% (CY) LTD* 48.8% * Ameria Group (CY) LTD was renamed to Imast Group (CY) LTD Λ#30Recognition and Honors for Achievements Best Bank in Armenia Numerous awards and recognitions from global institutions, agencies and IFIs in trade finance, investment banking, capital markets and custody services. GLOBAL BEST BANK FINANCE AWARD INVESTMENT GORANCE BANK AWARD GORAKICE 2023, 2022, 2021, 2017, 2016, 2015, 2014, 2013, 2012 EUROMONEY EUROMONEY AWARDS FOR EXCELLENCE ARMENIA 2022 BEST BANK 2022, 2021, 2019, 2018, 2017, 2016, 2014, 2012, 2011 The Banker FT FINANCIAL TIMES Bank of the Year 2022 ARMENIA 2022, 2021, 2017, 2016, 2015, 2014, 2013, 2012 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 GLOBAL FT EUROMONEY EUROMONEY GRACE EUROMONEY GRACE EUROMONEY EUROMONEY EUROMONEY EUROMONEY FT EUROMONEY EUROMONEY GRACE FINANCIAL, TIMES FINANCE GLOBAL FINANCE FT GRANCE FT FINANCIAL TIMES FINANCIAL TIMES GLOBAL GORANCE GORANCE FINANCIAL TIMES FT FINANCIAL TIMES FT FINANCIAL TIMES FINANCIAL TIMES GLOBAL FINANCE GORANCE GRANCE FT FINANCIAL TIMES 29 Investor Presentation | Ameriabank.am Λ#311. Ameriabank at a Glance 2. 2023 Q4 Snapshot 3. 2023 Q4 Financial Results 4. Strategy Highlights 5. Appendices: Corporate Governance 30 Investor Presentation | Ameriabank.am Λ#32Strong Team and Corporate Culture 1 Unique corporate culture driven by a flat organization and a fully merit based compensation structure 4 Experienced board members with diverse international background 2 One of the most professional and talented teams in the local market 5 Best practice corporate governance system and principles 3 31 Fully functioning Board committees as per international best practice of public companies Investor Presentation | Ameriabank.am Λ#33Board of Directors Andrew Mkrtchyan Chairman of the Board About 30 years of experience in commercial and investment banking and management advisory by standing at the roots of investment banking establishment in Armenia, board member in a number of private/public organizations. Richard P. Ogdon Non-executive Independent Board Member More than 35 years of experience in the financial sector, with senior positions in investment banks, asset management and advisory companies (UBS Warburg, Uralsib and other Fis), serves as the CEO of TRDATA software company. Lindsay M. Forbes Non-executive Board Member Over 40 years of experience in commercial and investment banking, including about 30 years with European Bank of Reconstruction and Development (EBRD). Before joining EBRD, Mr. Forbes spent 13 years with the British Linen Bank, the Investment Bank subsidiary of Bank of Scotland. Kaha Kiknavelidze Non-executive Independent Board Member About 30 years of experience in commercial and investment banking, has been a long time NED and later CEO of Bank of Georgia Group, the leading financial institution in Georgia. Held executive and top managerial positions at UBS, Rioni Capital and other Fls. Philip Lynch Non-executive Independent Board Member Over 35 years of experience in finance, including more than 20 years with Lehman Brothers in senior positions. Was CEO of Middle East, Asia Pacific and Africa business at Nomura, is currently the founding partner of Stem Capital Partners - an independent direct investment company. Tigran Davtyan Non-executive Independent Board Member More than 30 years of experience in the financial system, with senior executive positions at the commercial banks, of which more than 8 years as CEO. Held senior positions at the Central Bank of Armenia and Eurasian Economic Commission. Robert von Rekowsky Non-executive Independent Board Member Around 35 years of experience in global asset management, specialized in emerging markets funds, a former vice-president at Emerging Markets Strategy and portfolio manager for Fidelity Investments. 32 Investor Presentation | Ameriabank.am Λ#34Management Board Artak Hanesyan CEO, Chairman of the Management Board A distinguished banker with more than 30 years of experience in the banking system of Armenia. Has been the CEO of Ameriabank since 2008. Before that Mr. Hanesyan held key positions in the banking sector of Armenia, including positions of CEO and deputy CEO. Armine Ghazaryan Chief People and Services Officer More than 20 years of experience in the banking sector of Armenia, most of which in human resources management (HRM). Mrs. Ghazaryan had been heading Ameriabank's HRM unit since 2008, prior to becoming CPSO in 2019. Hovhannes Toroyan Chief Financial Officer Around 20 years of experience in the banking system of Armenia, including more than 10 years with Ameriabank, being responsible for strategy, research, assets and liabilities management. He became the CFO of Ameriabank in Q3 2022. Andranik Barseghyan Risk Management Director Around 30 years of experience in financial institutions' risk management and automation technologies. Mr. Barseghyan has been heading Ameriabank's Risk Management Center since 2009. Gagik Sahakyan CIB Director More than 25 years of experience in commercial banking and business advisory. Starting his career in advisory business and leading Ameria advisory services he later moved to corporate banking and has been heading the business line since 2010. Gohar Khachatryan Chief Accountant About 35 years of experience in the banking sector of Armenia, of which 10 years at the Central Bank and about 20 years as the Chief Accountant of Ameriabank. Arman Barseghyan Retail Banking Director A proven career track of more than 25 years in retail banking, of which around 15 years at HSBC bank Armenia. Mr. Barseghyan joined Ameriabank as Retail Banking Director in 2012. 33 Investor Presentation | Ameriabank.am Λ#351. Ameriabank at a Glance 2. 2023 Q4 Snapshot 3. 2023 Q4 Financial Results 4. Strategy Highlights 5. Appendices: Financial Performance Details 34 4 Investor Presentation | Ameriabank.am Λ#36Balance Sheet ITEMS 2023 thsnd AMD 2022 Cash and cash equivalents 133,374,395 112,800,903 Financial instruments at fair value through profit or loss 14,403,924 10,721,168 Available-for-sale financial assets 24,500,236 57,363,607 Money market short-term disbursements 105,493,201 142,051,394 Loans and advances to customers* 984,746,562 735,543,120 Held-to-maturity investments 99,308,586 156,701,885 Property, equipment and intangible assets 27,087,094 22,581,859 Other assets 20,667,219 Total assets 1,409,581,217 14,065,870 1,251,829,806 Financial liabilities at fair value through profit or loss Liabilities to banks Current accounts and deposits from customers Other borrowed funds Sub-debt Other liabilities Total liabilities Share capital and premium Revaluation Reserve Retained earnings Equity 35 Investor Presentation | Ameriabank.am *net of impairment allowances 69,563 71,773,023 66,621,817 907,749,557 784,634,192 34,473,780 58,124,688 29,732,721 28,155,324 170,064,801 142,172,677 1,213,793,882 1,079,778,261 54,741,241 (911,573) 141,957,667 195,787,335 54,618,878 (1,473,167) 118,905,834 172,051,545 Λ#37Profit and loss ITEMS 2023 thsnd AMD 2022 75,024,900 50,459,636 Net interest income 13,766,590 9,135,231 Net fee and commission income Net profit/loss from trading operations 24,456,065 41,339,983 Other operating income (expenses) (7,177,554) (4,349,687) 106,070,001 96,585,163 Operating income Impairment losses (5,451,340) (4,699,928) Personnel expenses (32,480,252) (28,327,332) Total administrative expenses (10,827,802) (8,688,985) 57,310,607 54,868,918 Profit/(loss) before tax Profit tax (11,258,774) (10,599,631) 46,051,833 44,269,287 Net profit/(loss) 36 Investor Presentation | Ameriabank.am Λ#38CBA prudential standards CBA ITEMS 2021 2022 2023 Violations requirement Minimum statutory fund (in '000 AMD) Minimum total capital (in '000 AMD) 54,385,935 54,414,765 54,466,380 50,000 No violation 143,832,191 183,483,587 224,093,877 30,000,000 No violation S12_Total capital to risk weighted assets 15.29% 17.40% 16.77% 12.00% No violation S21 High liquid assets/Total assets 31.84% 30.42% 24.60% 15.00% No violation S211 High liquid assets of first group of currency/Total 33.46% 30.91% 28.56% 4.00% No violation assets of first group of currency S22 High liquid assets/Demand liabilities 110.18% 75.48% 74.92% 60.00% No violation S221 High liquid assets of first group of currency / 121.88% 74.41% 75.78% 10.00% No violation Demand liabilities of first group of currency S31_Maximum risk on a single borrower 11.75% 17.36% 16.62% 20.00% No violation S32_Maximum risk on large-scale borrowers 147.15% 95.47% 101.11% 500.00% No violation S41 Maximum risk on bank related person 3.44% 1.62% 2.67% 5.00% No violation S42 Maximum risk on all bank related persons 10.28% 8.25% 10.79% 20.00% No violation Minimum requirement for obligatory reserves allocated with RA CBA: AMD X X X 4% 18% No violation Currency Maximum risk of currency position / Total capital of the bank 0.07% 2.58% 3.58% 10.00% No violation 37 Investor Presentation | Ameriabank.am Λ#39FX Exposure USD 33% Currency structure of loan portfolio Currency structure of deposits EUR 12% 38 Investor Presentation | Ameriabank.am AMD 55% USD 33% Other EUR 12% 2% AMD -53% Λ#40Income Structure Interest income structure Money market 4% Other 1% Securities 11% Loans and advances to customers 84% Non interest income structure Derivatives Fines and Other 4% 2% penalties 0% Fee and commission. income 40% 39 Investor Presentation | Ameriabank.am FX income 54% Interest expense structure Other Due to 4% CBA/banks, Due to IFI 14% 8% Due to .customers 74% Net fee and commission income structure Guarantee and LCs Account service 15% 9% Credit card maintenance 52% Money_ transfers 24% Λ#41P&L Structure 36.63 Profit and loss bln AMD 50.43 15.39 1.61 100.84 33.51 Admin expenses bln AMD +17% +80% 43.3 37.0 Net profit 46% margin 20.5 EBT margin 57% 2021 2022 2023 Structure of admin expenses 1.41 4.33 4.28 57.31 11.26 46.05 Marketing, Rep. costs and CSR 4% Maintenance, communication and utility cost 2% Rent -1% Other 7% OP OP OP Other Total HR CIB RB TD OP Mark & Admin Dep & PR EBT Taxes NET Depreciation 10% exp amor PROFIT 40 Investor Presentation | Ameriabank.am Personnel expenses and Trainings 76% Λ#42Disclaimer The information contained in this presentation has not been independently verified and no representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this information or opinions contained herein. Neither Ameriabank CJSC, nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its content or otherwise arising in connection with this document. This document does not constitute any offer and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation may contain forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Ameriabank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. 41 Investor Presentation | Ameriabank.am Copies of this document are readily available upon request or can be downloaded from ir.ameriabank.am. Λ#4342 Investor Presentation | Ameriabank.am Investor Relations E-mail: [email protected] Tel: +374 10 561111 Web: ir.ameriabank.am Address: 2 V. Sargsyan street, Yerevan, 0010, RA Λ