BGEO Group Financial Update

GEL millions 140 120 100 80 40 Banking Business | Resilient loan portfolio quality Cost of Credit Risk | nine-month Banking Business Cost of Credit Risk | quarterly Banking Business +184.0% 116.3 17.9 60.9 55.7 43 40.9 +140.2% 98.4 y-o-y 20 0 2012 2013 2014 9M14 9M15 Devaluation effect Like-for-like GEL millions -14.7% 50 45 40.8 40.8 40 35 11.9 34.8 6.0 30 22222 no 8.2 15 10 20.7 14.9 5 -29.4% like-for-like 28.8 0 3Q14 1Q15 2Q15 3Q15 Devaluation effect Privatbank Like-for-like Cost of Risk | nine-month Banking Business Cost of Risk quarterly Banking Business +160 bps 4.0% 4.0% -20 bps 3.5% 3.5% 3.1% 2.7% 2.8% 3.0% 3.0% 2.5% 0.4% 0.9% 2.5% 2.5% 0.4% 2.0% 2.0% 1.6% 0.6% -60 bps 1.5% +120 bps 1.3% 1.3% 1.5% 1.2% 1.2% like-for-like 2.1% y-o-y 2.4% 1.6% 1.0% 1.0% 0.5% 0.5% 0.0% 2012 2013 2014 9M14 9M15 0.0% 3Q14 1Q15 2Q15 Devaluation effect Like-for-like Holding company of BANK OF GEORGIA BGEO www.bgeo.com GROUP November 2015 3Q15 Devaluation effect Privatbank Like-for-like page 22

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