3Q20 Financial Performance

PROFITABILITY COMING BACK TO TARGETED LEVEL 15 3Q20 PERFORMANCE HIGHLIGHTS Bank of Georgia's performance has been very strong in the third quarter: The balance sheet has remained strong with better than expected levels of growth Revenue growth has been excellent. Net fee and commission income increased by 38.4% quarter-on-quarter, with net interest income growing at 16.6% q-o-q Net interest margin increased by 60 basis points, to 4.8%, in 3Q20 Asset quality has remained robust. Our lending portfolio has performed better than expected Costs have been well-managed with a 2.4% quarter-on- quarter reduction in operating expenses, following a review of our variable cost base. Our capital ratios have remained robust and comfortably above our minimum regulatory requirements Delivering superior levels of profitability - annualised return on average equity was 26.0% in 3Q20 ROAE 29.9% 26.8% 24.5% 26.0% 22.9% 24.7% 21.8% 18.8% 20% 9.9% 1Q19* 2Q19* 3Q19 4Q19 1Q20 2Q20 3Q20 9M19*9M20** -18.6% ■ROAE ROAE normalised** * 1Q19 and 2Q19 ROAE are adjusted for termination costs of former CEO and executive management ** 9M20 ROAE normalised for cost of credit risk (1.2% for RB and 0.8% for CIB), one-off modification losses incurred on loan restructurings and COVID-19 related other one-off costs

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