Bank of Georgia Financial Overview

Improving efficiency Cost/Income ratio, annual Cost/Income ratio, quarterly 70.0% 66.1% 65.0% 57.6% 55.5% 51.0% 60.0% 55.0% 48.3% 49.1% 49.3% 44.4% 50.0% 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 10.0% 15.0% 0.0% 5.0% -10.0% -5.0% 2009 2010 2011 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Cost/Income Ratio Cost/Income Ratio BANK OF GEORGIA www.bogh.co.uk www.bankofgeorgia.ge/ir May 2012 Page 13

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