Fiscal and Loan Portfolio Analysis

Total Recurring Costs Recurring operating costs GEL m In 250 Employees Q4 2009 4,781 Operating 621 2,674 costs decreased 200 190.9 4,798 Q3 2009 182.9 617 2,669 by 2.0 y-o-y in 4,914 Q2 2009 2,665 707 2009 150 86.5 Q1 2009 4,964 2,692 117.4 92.7 757 1 4,977 Q4 2008 2,741 Non Net Non- 786 100- 41.8 6,196 Recurring Q3 2008 3,853 842 63.5 Costs of GEL Q2 2008 5,911 50 38.5 104.4 836 3,619 30.2 90.3 108.6 mln 75.6 15.3 4,926 Q1 2008 8241 3,056 driven by 33.3 23.2 4,459 0 Q4 2007 2,692 goodwill write- 821 down 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 associated with 2005 2006 2007 2008 2009 Personel costs. Other Recurring Operating Costs BG Bank BoG Standalone Group Consolidated BG Bank (GEL68 mln) and mark down Recurring operating costs Net non-recurring costs of real estate and GEL mln 60 GEL m In 20 4.7 investments 48.9 49.7 47.9 47.0 0 (2.0) 50 44.5 44.7 46.3 45.0 2005 2006 2007 2008 2009 -20 40 21.6 21.3 (20.7) 18.7 24.8 23.1 24.2 22.7 22.6 00 -40 30 20 20 -60 25.7 27.3 28.4 23.1 10 22.0 23.2 22.3 22.8 -80 -100 0 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Personnel Costs ■Other Recurring Operating Costs Lobko BANK OF GEORGIA www.bog.ge/ir Page 28 -120 (111.0) March 2010 Page 28

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