Bank of Georgia Earnings and Strategy Update

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% 2020 2021 4Q20 3Q21 4Q21 Continuing investments in IT-related resources, digitalisation and marketing, in line with strategic priorities, while maintaining focus on efficiency and cost control 508 +26.9% 4 433 5 94 +17.8% 83 151 130 119 106 122 128 222 1 25 44 21 32 281 240 64 72 81 The impact of cost optimisation measures that were initiated in 2Q20 has been reflected in subsequent quarters c.35% Medium-term guidance 2020 2021 4Q20 3Q21 4Q21 Other operating expenses Administrative expenses Depreciation, amortisation and impairment Salaries and other employee benefits 26

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