Investor Presentaiton

FOCUS ON EFFICIENCY Cost / Income | quarterly Banking Business 40% Banking Business 40% 39.3% 37.9% 35% 35% 36.9% 30% 25% 20% 4Q18 3Q19 4Q19 30% 25% Cost / Income* | full year 36.7% 20% 2018 37.8% 2019 Operating income and operating expenses | quarterly Banking Business Operating income and operating expenses* | full year Operating Leverage*: -7.3% y-o-y Banking Business Operating Leverage*: -3.2% y-o-y -4.1% q-o-q 400 309.3 285.0 GEL millions 273.1 300 200 100.9 107.9 121.5 100 GEL millions O 4Q18 Operating income 3Q19 4Q19 Operating expenses 1,200 1,030.0 1,000 800 600 378.5 400 200 O 2018 Operating income 1,110.3 419.9 2019 Operating expenses BANK OF GEORGIA * Operating expenses, operating leverage and cost/income ratio are adjusted for one-off costs. Please see details on one-offs on pages 66-67 for all the periods presented. 13

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