Bank of Georgia Financial Analysis

Ukraine BANK OF GEORGIA 2003 2004 2005 2006 2007 2008 DIVERSIFIED RESILIENT ECONOMY Gross domestic product Diversified nominal GDP structure, 9M18 2009 Nominal GDP, US$ mn 2010 2011 Source: Geostat 210 20 16% 12.6% Hotels & restaurants 3.0% Other 10.1% Industry 17.2% 15 11.1% 9.6% 12% Financial interm. 7.2% 4.5% 10 9.4% 6.2% 6.4% 8% 4.6% 4.8% 4.8% 5 5.8% 2.4% 2.9% Healthcare 6.0% 4% 3.4% 2.8% Real estate о -3.7% 0% 7.1% -5 -4% 2012 2013 2014 2015 2016 2017 2018 Comparative real GDP growth rates, % (2010-2018E average) Azerbaijan Russia Bulgaria Czech rep. Latvia Romania Lithuania Poland Estonia Armenia Moldova Real GDP growth, % Public administration 7.4% Agriculture 8.1% Source: IMF, GeoStat 7% 6.5% 12,000 6% Source: IMF, GeoStat 11,600 10,742 5% 4.8% 10,000 4.5% 4.4% 9,2399,63010,043 4% 8,544 3.3% 3.4% 3.5% 8,008 3% 2.7% 3.0% 8,000 7,287 2.2% 2.3% 1.8% 2% 1.4% 6,000 5,791 6,127 6,0276,567 4,945 4,331 1% 4,000 3,4403,784 0% -1% -0.2% 2,000 1,010 1,305 1,6432,000 2,635 3,326. 2,8233,073 3,8444,250 4,3414,438 3,755 3,857 4,047 4,363 Georgia Turkey O Transport & Construction 9.1% commun. 10.6% GDP per capita Nominal GDP per capita, US$ ■GDP per capita, PPP, US$ 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018E 39 Trade 17.0% Source: Geostat

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