Bank of Georgia Financial Analysis

RESILIENT LOAN PORTFOLIO QUALITY Loan loss reserve and NIM NPL composition Banking Business NPL Banking Business coverage ratio 83.4% 86.7% 92.7% 90.5% 7.7% 7.4% 7.3% 500 400 8% 4.3% 5% 4.2% 6.5% 3.8% 400 3.3% 4% 300 5.0% 5.1% 4.7% 4.9% 6% 318 295 301 300 27 241 3% 38 49 200 4% 35 159 200 2% 279 288 256 202 185 100 201 2% 161 100 1% 133 0% 45 55 68 О 0% 2015 2016 2017 2018 2015 2016 2017 2018 Loan loss reserves (LLR), GEL mln Net Interest Margin Risk Adjusted NIM INPLS RB, GEL mln NPLs Other, GEL mln NPLS CIB, GEL mln NPLs to gross loans Cost of Credit Risk Cost of Risk Banking Business -100bps -90bps 2.2% 1.6% Banking Business -60bps -3.9% -4.2% 3.0% 180 160 2.5% 2.1% 2.0% 2.0% 1.5% 1.1% GEL millions 140 120 100 80 1.0% 60 48 41 42 40 0.5% 20 0.0% O 4Q17 3Q18 4Q18 2017 2018 4Q17 3Q18 4Q18 2017 2018 167 160 -15.2% BANK OF GEORGIA 19

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