Investor Presentaiton

14 12 10 8 6 4 2 0 APPROPRIATE MONETARY POLICY STANCE ENSURING MACROECONOMIC STABILITY Monetary policy rate Sources: NBG NBG further increased the monetary policy rate to 10% in August, as inflation is expected to remain elevated throughout 2021 and the beginning of 2020 Sources: NBG Apr-08 Oct-08 Apr-09 Oct-09 Apr-10 Oct-10 Apr-11 Oct-11 Apr-12 Oct-12 Apr-13 Oct-13 Apr-14 Oct-14 Apr-15 Oct-15 Apr-16 Oct-16 Apr-17 Oct-17 Apr-18 Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 Apr-21 Oct-21 0 1,000 May-05 Dec-05 90-րո 4,000 10.00 2,000 Feb-07 Sep-07 3,000 Nonperforming loans to total gross loans, latest 2021 Sources: IMF Hungary Georgia 0.8% 2.2% Foreign exchange market interventions, $US million Sources: NBG NBG has sold $1.2 billion since March 2020 up to October 2021 on the foreign exchange market US$ Sales Net interventions US$ Purchase 873 Latvia Poland Turkey Romania Belarus Bulgaria Armenia Croatia 3.2% 3.5% 3.6% 3.8% 5.0% 5.4% 6.6% 7.1% Moldova 7.5% 287 300 113 287 280 100 -130 -198 2 -52 -200 -278 -130 -198 873 333 333 Russia 8.1% Kazakhstan 8.4% 86 2014 2015 2016 2017 2018 2019 2020 2021* Apr-08 Nov-08 Jun-09 International Reserves International reserves grew by 4.8% Y-o-Y to reach US$ 4 billion by the end of October 2021, rising as a result of SDR allocation in August after a temporary fall due to closing of NBG swaps Official Reserve Assets, US$ mln Net Foreign Assets, US$ mln Jan-10 Aug-10 Mar-11 Oct-11 May-12 Dec-12 Jul-13 Feb-14 Sep-14 Apr-15 Nov-15 Jun-16 Jan-17 Aug-17 Mar-18 Oct-18 May-19 Dec-19 Jul-20 Feb-21 Sep-21 GEORGIA CAPITAL

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