Management Target for 2010 Summary

Strategic objectives: grow at the right price More efficient Deposit funding Lending machine International operations, Divesting of non-core assets Lon www.bog.ge/ir BANK OF GEORGIA 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, c. 8% of total deposits 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% Lending rates decreased from 16-18% to 14.5-16.5% as lending stepped up to top borrowers in Georgia Emphasis on micro loans, SMEs, consumer loans and mortgages in Georgia 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 First stage of restructuring of equity investment business completed Controlling stake in investment management company sold in Oct '09 Challenges in 2010: Cost control combined with Loan book growth May 2010 Page 22

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