Investor Presentaiton

FOCUS ON EFFICIENCY AND COST CONTROL COST TO INCOME RATIO OPERATING EXPENSES 39.7% 39.6% 39.8% GEL MILLIONS 37.2% 36.8% +17.4% 508 +26.9% 4 433 5 94 +17.8% 83 151 130 1 128 119 2020 2021 4Q20 3Q21 4Q21 106 1 25 2 23 21 44 Continuing investments in IT-related resources, digitalisation and marketing, in line with strategic priorities, while maintaining focus on efficiency and cost control 32 32 281 240 The impact of cost optimisation measures that were initiated in 2Q20 has been reflected in subsequent quarters c.35% Medium-term guidance 2 72 81 4 64 3Q21 2020 2021 4Q20 4Q21 Other operating expenses Administrative expenses Depreciation, amortisation and impairment Salaries and other employee benefits 29

View entire presentation