Q3 2009 Results Overview

Lending Opportunities in Corporate Sector in Georgia On the back of deleveraging in 2009, we expect lending to pick-up in 2010 We see following opportunities in corporate sector in Georgia: Underleveraged utility sector (circa 9% loans to sector GDP) * Underleveraged healthcare sector, which is under privatization and needs to be rebuilt (circa 2% loans to sector GDP) * Food processing and agribusiness, substituting imported goods (circa 3.5% loans to sector GDP) Hydropower sector, which is gearing for exports to Turkey While BoG has significant market share in the retail and corporate banking segments, SME is still underpenetrated BoG's SME loan portfolio is only GEL 70 mln (circa 4% of BoG loan book) or estimated market share of circa 15% BoG can leverage its corporate banking business to grow its market share in SME segment Lobko BANK OF GEORGIA www.bog.ge/ir Page 37 January 2010 Page 37

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