Strategy & Governance

Strategic objectives: grow at the right price More efficient Deposit funded lending machine Divesting of non-core assets International operations Enhance operational efficiency through technological improvements: Temenos T24, core banking software, acquired in October '09 is in the process of implementation; Deployment of Softscape, talent management solution, and CRIF, credit scoring solution, is under way Wealth Management services launched in Israel and Ukraine Deposits from international clients reach GEL 100 mln in '09 Premier Banking launched for the affluent client base supported by the exclusivity of Amex Card issuing and acquiring business in Georgia Despite high rate of bank debt growth in '05-'09, ample room for growth with total loans/GDP under 30%; retail loans/GDP under 10% First stage of restructuring of equity investment business completed Controlling stake in investment management company sold in Oct '09 Scale down operations of BG Bank; leverage on corporate banking and brokerage to build trade finance business in Ukraine to capture growing (c.U$1 bn) trade between Georgia and Ukraine Focus on high margin, unattended SME sector in Belarus; explore the possibility of third party investor, such as IFIs, in BNB Challenges in 2010: Cost control and Loan book growth Lobko BANK OF GEORGIA www.bog.ge/ir Page 19 March 2010 Page 19

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