INVESTOR BRIEFING FY 2020 PERFORMANCE Plc Investor Briefing

FY 2020 PERFORMANCE

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Equity Group’s Philosophies

Our Purpose: Our Mission: Transforming lives, giving dignity and expanding We offer integrated that socially and opportunities for wealth creation economically empower consumers, businesses and communities

Our Vision: Positioning Statement: To be the champion of the socio-economic We provide inclusive financial services that transform prosperity of the people of Africa livelihoods, give dignity and expand opportunities

Our Core Values:

Respect and Dignity Integrity Teamwork for the Customer

Effective Corporate Professionalism Creativity & Innovation Unity of Purpose Governance

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Governance and Organizational Structure

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Governance and Organizational Structure

Structured Entity Business Communications Transition, Capital Raising Strategy & & Corporate Leadership & & Investment Investor Customer Governance Affairs Experience & Relations CEO's Office Innovation

Banking Subsidiaries

Equity Investment Bank Equity Bank () Limited

Equity Insurance Agency Equity Bank PLC

Equity Bank () Limited Finserve Africa

Equity Bank Limited

Equity Bank S. Sudan Limited

EquityBCDC S.A. Cyber & Fraud Risk

Equity Bommerciale du Congo IT and MIS Risk

Compliance

Risk Support

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Group Executive Management

Dr.,CBS Mary Wamae Polycarp Igathe OlanrewajuDavid Ngata Bamisebi Group Managing Director & Group Executive Director Group Chief Commercial GroupGroup ChiefFinance Information Director Chief Executive Officer Officer Officer

Sam Gitwekere Christine Browne Brent Malahay Gloria Byamugisha David Ngata Group Director Credit Risk Group Director Legal Group Director Strategy, Group Chief Human Group Finance Director Services and Company Strategic Partnerships and Resources Officer Secretary Investor Relations

James Mutuku Elizabeth Gathai John Wilson Joy DiBenedetto Bildard Fwamba Group Director, Treasury Director Digitization and Group Chief Risk Officer Group Director Chief Internal Auditor and Trade Finance Automation Communications

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Group Executive Management

Gerald Warui Emmanuel Deh Samuel Kirubi Anthony Kituuka Addis Ababa Othow Managing Director, Executive Director, Equity Managing Director, Executive Director, Managing Director, Equity Bank Kenya Bank Kenya Equity Bank Uganda Equity Bank Uganda Equity Bank

Hannington Namara Robert Kiboti Esther Kitoka Célestin Muntuabu Jean-Claude Tshipama Managing Director, Managing Director, Executive Director, Managing Director, Deputy Managing Director, Equity Bank Rwanda Equity Bank Tanzania Equity Bank Tanzania EquityBCDC S.A. EquityBCDC S.A

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Group Board of Directors

Prof. Isaac Macharia Dr. James Mwangi Mary Wamae Non-Executive Chairman Managing Director and Executive Director Chief Executive Officer

Dr. Edward Odundo Evelyn Rutagwenda Vijay Gidoomal Non-Executive Director Non-Executive Director Non-Executive Director

Dr. Helen Gichohi Christopher Newson Christine Browne Non-Executive Director Non-Executive Director Company Secretary

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The Great Multi Crises - COVID-19

Global Health crisis Humanitarian crisis - A new virus, COVID-19, detected in • December 16, 2019 IMF - Approximately 107 million people will fall below Wuhan, China and spread rapidly across the globe in 2020 the poverty line by 2021 due to COVID-19 • November 9, 2020 - COVID-19 vaccines announced. Currently more than 50 COVID-19 vaccine candidates are in trials World Food Programme estimates that 271.8 million q COVAX to distribute 2 Billion vaccines globally by end of 2021 people are acutely food insecure or directly at risk of q 8.3 Million people already fully vaccinated worldwide becoming so due to the aggravating e ect of the • December 14, 2020 - New COVID-19 variants reported in the COVID-19 UK and later December 18 in fuelling a second - The World has lost 5 years in its wave which is said to be more contagious. World Data Lab e orts to end extreme poverty because of COVID-19 • Cases reported as at March 5, 2021 q Global; 116 Million Cases, 2.6 Million deaths World Health Organisation- 45% of the countries in q Africa; 3.9 Million Cases, 105 thousand deaths the world have postponed at least 1 vaccination Source: John Hopkins, Africa CDC & WHO campaign due to COVID-19 $ Global Economic crisis 2021 GDP Growth forecasts optimistic after vaccinations begin; Significant job losses predicted • ILO projects a continued loss in working hours of 3.0 per • Global GDP growth expected at 5.5% cent in 2021 relative to the fourth quarter of 2019, which • Advanced economies expected GDP growth at 4.3% corresponds to 90 million full-time equivalent (FTE) jobs. • Emerging and developing economies expected growth at 6.3% • Sub-Saharan Africa expected GDP growth at 3.2% • In 2020, 8.8 per cent of global working hours were lost relative to the fourth quarter of 2019, equivalent to 255 million full-time jobs Source: IMF Source: International Labour Organisation (ILO)

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COVID-19 Management and Responses

• Encouraged nancial institutions to accommodate loan restructuring for their clients • Promotion of the use of e-payments to reduce risk of contaminated bank Key government and notes banks’ regulator • Reduced the Cash Reserve Ratio (CRR) to boost banks’ liquidity interventions across the region • Enacted legislations aimed at giving relief to aected populations e.g. tax reliefs • Drawn FY2020/21 budgets aiming to support recovery of critical sectors

Country Amount Approved Date of Approval

DRC US$ 363 million April 22, 2020 Regional COVID-19 Financial Assistance Kenya US$ 739 million May 6, 2020 (Rapid Financing Rwanda US$ 220 million April 2 & June 11, 2020 Instrument) from IMF South Sudan US$ 52 million Nov 11, 2020 Uganda US$ 492 million May 6, 2020

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Regional CBR and Currency Depreciation

Dec-19 % 5 Dec-20 18 . 0% YOUR HEA DLIN E . 15.0% 15.0% 1 4

Regional CBR % % % %

WILL9.0 SIT HERE 8.3% % 7.0 7.0% 7.0 7.0 5.0 4.5%

Kenya Uganda Tanzania Rwanda DRC South Sudan

-0.1% Dec-19 +1% 3

Dec-20 .

0.1 +17% 66 4 6 3 , 3 , 1.5 8.0 7 3 2 Regional 2 9

+5% 64 . 2 , 5.0 2 , , 9

Currency 1 6 8 +105%

+8% 1 ,

Depreciation to 2.5 3.0 9 7 9 2 USD 3.0 3 . 0.0 5 3 1.4 2 6 10 9 1 0

KES UGX TZS RWF CDF SSP

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GDP Growth Projected to improve across the Region

2020 Estimate IMF 2021 Projection YOUR HEA DL6.3%INE 4.7% 4.9% 4.1% GDP growth WILL SIT3.6% HERE 3.6% 1.9% 2.0% 1.1% 0.3%

-2.2% -2.3% Kenya Uganda Tanzania Rwanda DRC S.Sudan

Inflation Dec-19 0% . Inflation Dec-20 6 9 0% . 5 8 0% Inflation rates . % 2 9 % 11 . 6 . 5.8% 5 3.9% 3.9% 3.8% 3.6% 3.2% 3.0%

Kenya Uganda Tanzania Rwanda DRC S.Sudan

Source: IMF & CBK

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Equity Boosts Government Efforts against COVID-19 Pandemic

Kes 4.1 billion to complement Government’s health and social responses as well as support our customers

Health Response Social Response Loan restructuring Capital bu ers Risk management Liquidity bu ers Waived fees on Equity Group In response to the In response to the In response to a In response to the mobile banking Foundation, challenging operating global and regional challenging potential liquidity transactions to Mastercard environment for uncertain operating operating outlook risk arising from discourage use of Foundation and customers, we have environment, we we partnered with accommodation of cash and leveraged Dr. James Mwangi identied borrowers have enhanced development our customers and o our health clinics family impacted by COVID-19 core capital bu ers institutions to the challenging to support contribution to who account for 32% by withdrawal of obtain partial credit environment, the educational the COVID-19 fund of our loan portfolio. 2019 dividend guarantee on select Group secured DFI awareness. totalling Kes 1.7 Loan restructuring amounting to Kshs borrowers and funding amounting Transaction fee Billion fees waived 9.5 Billion and enhanced our to USD 350m in the foregone amounted amounted to Kes 1.2 raised USD 100 provisioning year to strengthen to Kes 1.2 billion. billion. million of Tier 2 intensity to liquidity; liquidity capital proactively manage levels now rising to emerging risks 59% from 52%

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Equity Bank Business Model and Strategy

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Equity Bank Business Model and Strategy Focus

1. Non-Funded Income Growth

2. Treasury

3. Geographical and Business Diversification

4. Balance Sheet Agility

5. Innovation and Digitization

6. Asset Quality

7. Efficiency and Cost Optimization

8. Impact Investment & Social Brand Development

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Focus Area 1: Non-Funded Income Growth

Kes Billion Loan Interest Income Total Interest IncomeY OURNon-Funded Income Contribution to Total Income Growth Trend Growth Trend Growth Trend +24%

92.9 +12% +24% 74.8

73.8 66.5 +26% +12% 55.1 (59%) 21.5 59.7 +14% 52.3 (29%) 45.0 53.2 (60%) 18.1 +27% Net Interest 41.4 41.6 (30%) Treasury Interest 16.7 Income (62%) 36.5 +19% Income (31%) 37.8 29.8 52.3 25.1 41.6 (71%) 37.8 Loan Interest 36.5 (70%) 29.8 (41%)) Income (69%) Non-Funded 25.1 (40%) Income (38%)

FY 2018 FY 2019 FY 2020 FY 2018 FY 2019 FY 2020 FY 2018 FY 2019 FY 2020 FY 2018 FY 2019 FY 2020

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Focus Area 1: NFI Contribution

NFI contribution back to pre-covid-19 level; Equity Group still more diversi ed than the sector average as at Q4 2020

Equity Group 45 Tier 1 Banks (ex Equity Group) 42% 41% 41% 41% 41% 40% 40 38% 38% 38% 37% 37% 36% 37% 37% 37% 36% 35 35%

31%

30

Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020

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Focus Area 2: Treasury

KES Billion Government Securities Treasury Gross Income Contribution Treasury Income Mix Yield on Government Securities & Portfolio YOUR HEA DLIN E Capital Gains +24% +36% Improving yields and mark-to-market +26% gains on Government Securities 30.7 217.4 WI112LL.2 SIT HERE 0.5 increasing 3.0 30.7 Yield on Mark to 90.5 Market (In Bn) 172.2 (27%) Govt securities 6.2 22.7 Treasury Income Interest Income 22.7 (20%) 10.7% (25%) 10.1% Placements 1.2 Bond Trading 1.1 Income 3.5 FX Income (15%)

81.5 67.8 (73%) 16.9 21.0 +117% All Other Income (75%) (74%) (68%) Interest Income 7.4 Gov. Securities 3.4

FY 2019 FY 2020 FY 2019 FY 2020 FY 2019 FY 2020 FY 2019 FY 2020 FY 2019 FY 2020

Note: Income calculation above is before funding costs

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Focus Area 3: Subsidiaries Performance and Contribution

Kes Billion Other Subs Other Subs Equity Group Dec 2020 EBTL EBRL EBUL EBSS EIA EIB Finserve Other Subs Total EBKL Contribution Contribution BCDC (% Contribution) (% Contribution) (% growth) Dec 2020 Dec 2019

Deposit 17.8 27.0 48.4 5.68 234.0 332.9 496.7 740.8 40% 27% YoY Growth 12% 24% 41% 9% 265% 40% 60% 53% Loan 15.2 21.3 37.7 0.1 90.5 164.8 313.1 477.8 34% 24% YoY Growth 16% 24% 35% 8% 189% 34% 66% 30%

Assets 28.5 38.8 61.8 9.8 285.1 0.5 0.5 2.2 427.2 667.6 1,015.1 39% 27% YoY Growth 20% 28% 37% 12% 256% 50% -20% 11% 39% 61% 51%

Revenue 2.3 4.0 7.1 2.4 12.6 0.9 0.0 1.4 30.7 63.3 92.9 33% 28% YoY Growth 38% 21% 44% 38% 72% -4% -88% -5% 33% 67% 24%

Cost before provisions 1.7 2.0 4.0 1.2 10.0 0.3 0.1 1.0 20.2 26.3 45.1 44% 37% YoY Growth -9% 24% 34% 11% 89% 25% 17% -29% 44% 56% 18%

PBT before -0.1 0.5 provisions 0.6 2.0 3.1 1.1 2.6 0.6 10.5 37.0 48.1 22% 19% YoY Growth 511% 18% 59% 89% 30% -15% -198% 210% 22% 78% 34%

-0.1 0.4 PBT -0.4 1.7 2.3 1.1 1.6 0.6 7.2 14.2 22.2 34% 18% YoY Growth 4% 11% 55% 76% -2% -12% -184% 441% 34% 66% -30%

0.0 0.3 PAT -0.3 1.2 1.7 0.9 1.3 0.4 5.4 14.0 20.1 28% 18% YoY Growth -10% 11% 62% 84% 4% -6% -140% 871% 28% 72% -11%

RoAE -7.9% 22.0% 22.0% 10.6% 8.8% 260.5% -7.3% 22.2% 14.0% 17.9% 15.3% 14.0% 15.3% Cost of Capital 20.0% 19.0% 19.0% 22.0% 22.3% 18.0% 18.0% 18.0% 20.5% 18.0% 19.0% 20.5% 20.5%

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Focus Area 3: Geographical and Business Diversification Ratios-Banking Subsidiaries

RoAE RoAA Subsidiary FY 2019 FY 2020 Subsidiary FY 2019 FY 2020 EBKL 28.7% 17.9% EBKL 4.0% 2.4% EBUL 19.0% 22.0% EBUL 2.6% 3.1% EBRL 24.9% 22.0% EBRL 3.6% 3.4% EBTL -13.1% -7.9% EBTL -1.3% -1.1% EquityBCDC 17.0% 8.8% EquityBCDC 1.8% 0.8% EBSSL 14.4% 10.6% EBSSL 5.4% 9.3%

Cost-to-Assets Ratio Cost-to-Income Ratio Subsidiary FY 2019 FY 2020 Subsidiary FY 2019 FY 2020 EBKL 4.6% 4.5% EBKL 46.4% 41.5% EBUL 6.4% 7.5% EBUL 60.5% 56.5% EBRL 4.8% 5.7% EBRL 48.5% 49.6% EBTL 6.9% 6.4% EBTL 109.3% 72.1% EquityBCDC 7.0% 6.2% EquityBCDC 72.3% 79.2% EBSSL 12.2% 13.4% EBSSL 65.0% 52.1%

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Focus Area 3: Geographical and Business Diversification

• Present in 6 countries and a commercial representative o ce in EthiYOopia UR • We are a Top 2 bank in our twWo larIgeLLst mar kets and in the Top 10 in three other markets • Population of ~367 Million • Nominal GDP of ~USD 314 Bn

• BCDC acquisition completed on 7 August 2020. EBC and BCDC operations merged eective 31 December 2020 to create Equity BCDC • BCDC contributed 200,000 customers and 26 branches to our DRC operations

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Focus Area 3: Geographical and Business Diversification

BRANCHES 336 CAPITAL CITY 124

AGENT OUTLETS 53, 151 POINT OF SALE TERMINALS (POS) 34, 862 ATM 725

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Focus Area 4: Balance Sheet Resilience and Agility

KES Billion Funding Split Asset Split Group Group YoY Growth YoY Growth 1,015.1 YO3U8.6 R HEA DLINE 1,015.1 (4%) 72% 72.8 9W7.1 ILL SIT HERNet Loans E (7%) 50% Deposits (10%) 71% Gross Loans 217.4 138.6 (21%) +53% (14%) 24% 26% Other 673.7 673.7 48.7 740.8 Liabilities 22.4 Other Assets 56.7 (3%) (7%) 247.1 Borrowed (8%) (24%) 186% +14% Funds +30% Government 172.2 111.8 Securities (26%)

Shareholders’ +23% 0.1 482.8 (17%) 7.8 Funds 5 3 422.8 Cash & Cash 86.4 53% 4 7 (13%) 740.8 7.3 Equivalents 6.4

(73%) 3 8 0.5 3 6 7.2 3 1 2 9 477.8 30% Deposits 366.4 (47%) Net Loans 482.8 (54%) (72%)

FY FY FY FY FY FY 2018 2019 2020 FY 2019 FY 2020 2018 2019 2020 FY 2019 FY 2020

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Focus Area 5: Innovation and Digitization

Transformation from a place you go to; to something you do. Digitized Banking - Moving from xed cost to variable cost Transaction numbers in millions YOUR HEA DL IN E 880 874.2 Transactions in millions Digital banking 870 WILL SIT HERE (Eazzy banking suite 710 705.4 Agency and Merchants) 700 609.4 610 600

430 429.4 420

180 172.5 170 85.3 80 70 60 54.4 49.1 51.6 52.0 51.0 50 38.5 40 Legacy banking 30 (Branch & ATM) 20 15.4 7.9 10.4 Diaspora remittances 10 0.4 0.4 2.1 0 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020

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Focus Area 5: Innovation and Digitization

Transformation from a place you go to; to something you do. Digitized Banking - Moving from xed cost to variable cost

Volumes in Kes Billions 3,100 YOUR HEA DL IN E 3,050.6 Volumes in Billions Digital banking 2,713.9 2,700 (Eazzy banking suite WILL SIT HERE Agency and Merchants) 2,600

2,500 2,484.9

2,300 2,274.4 2,202.4 2,211.7 Legacy banking 2,200 1,636.8 (Branch & ATM) 1,591.7 1,579.6 1,600

1,300 1,284.5

700 642.5 600

400 315.8 279.4 300 Diaspora remittances 200 111.7 136.9 100 39.7 12.1 17.1 0 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020

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Focus Area 5: Innovation and Digitization

Transformation from a place you go to; to something you do. Digitized Banking - Moving from fixed cost to variable cost

Transaction numbers in millions

775 Transactions in millions Mobile and 770 770.5 589.6 internet banking 590 512.6

346.4 345 97.8 87.1 85 79.3 80 70.3 75.7 Agency 70 65.1 65 51.6 Merchants & 28.6 27.3 27.6 28.2 26.2 27.9 Eazzypay & 24.9 26.6 27.0 27.0 25 25.6 Eazzybiz 26.4 25.4 21.5 24.1 22.2 24.4 24.0 20 20.8 ATM Branch 12.6 17.5 17.7 10 9.6 7.4 9.6 5 3.8 1.3 2.0 0 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020

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Focus Area 5: Innovation and Digitization Migrating from Fixed to Variable Cost Delivery Infrastructure

Variable cost channels Fixed cost channels +54% Transaction numbers in millions

+2% 495.9 267.7 274.0 -13% * 321.5 87.1 -23% -26% +21% +56% 75.7 +78% +97% -17% 27.0 24.0 20.8 17.7 3.5 0.6 23.1 3.5 2.9 5.3 0.4 19.2 2.0 2.7

FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020

Equitel EazzyApp Eazzy Fx EazzyBiz EazzyPay EazzyNet Agency Merchants ATM Branch

-19% Transaction value in KES billion 2,422.9 +16% +50% -17% 1,969.1 929.3 291.0 934.2 +58% 799.9 -23% 242.6 +77% +158% 622.9 713.8 +88% +80% 118.9 452.1 92.0 299.9 33.6 169.9 28.8 18.9 13.0 15.3 10.5

FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020

* Eazzy Fx transaction numbers in thousands

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Focus Area 5: Fintech Innovation and Digitization 98% of our Transactions outside the branch

%

85 84.4% YOUR HEA DL IN E Mobile and 84 internet banking 78.0% 78 77.5%WILL SIT HERE

72.0% 72

15 14.6% 12.0% 12 11.5% 8.3% 5.4% Agency 5 5.3% 4.2% 3.8% 4 3.7% 3.6% 3.1% Others 3 2.7% 2.6% 3.2% 2.3% ATM 2 1.9% Branch 1 0 FY 2017 FY 2018 FY 2019 FY 2020

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Focus Area 5: Fintech Innovation and Digitization 60 % of our Transactions Value outside the branch

Branches now handling high value transactions for SME, corporates, wealth management & advisory services % 58 YOUR HEA DLIN E 57.2% 54 53.4%WILL SIT HERE 50 49.3% 37.4% Branch Mobile and 37.4% 26 25.5% internet banking 20.2% 20 18.2% 17.7% 18 17.1% 16.3% Agency 16 15.9%

6.7% 6.9% 6 5.9% 4.6% ATM 4 2.9% 2.0% 2.4% 3.0% Others 2 0 FY 2017 FY 2018 FY 2019 FY 2020

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Focus Area 5: Fintech Innovation and Digitization 91% of our Loan Transactions via Mobile Channel

FY 2020 Transaction count FY 2020 Transaction value

Branch Lending Mobile Lending 9% 16%

84% 91%

Mobile Lending Branch Lending

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Focus Area 5: Fintech Innovations in Digital Payments Steady adoption of Eazzy banking solutions

Quarterly No of Transactions (Millions) Cumulative No. of Transactions (Millions)

242.2 779.2

199.8 +31% 182.5 595.1 154.6 161.1 154.8 136.4 143.0

FY 2019 FY 2020 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020

Cumulative Transactions Volume (Bn) Quarterly Transaction Volumes (Billions) 769.8 1,995.7

+58% 496.4 1,266.6 390.9 343.4 349.2 338.7 274.4 299.5

FY 2019 FY 2020 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020

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Focus Area 5: Fintech Innovations in Diaspora Remittances

+104% 279.4

136.9

1.5

+76%

0.9

FY 2019 FY 2020

Transaction Volumes in Kes Bn Diaspora Commissions in Kes Bn

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Focus Area 5: Fintech Innovations in Fx Trading

Kes BillioYn OUR • The diaspora ows account for 32% Hof allE clienAt FxD voluLmesI N E

WILL SIT+51 %HERE Fx Trading Income 863.2

570.5 +77% 583.8 (68%) 6.2

Other FX 433.6 Flows (76%) 3.5

279.4 (32%) Diaspora 136.9 Flows (24%)

FY 2019 FY 2020 FY 2019 FY 2020

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Focus Area 6: Asset Quality

Split by market segmentation Split by economic sectors Building & 100% 100% Mining & Quarrying construction Agriculture 3% 6% Manufacturing Personal 22% 3% Consumer Financial services 4% 3% household 4% Micro 3% 21% 26% 3% Tourism & Hospitality 5% Energy & water SME 5% 59% 51% Food & Agriculture 6% Large 19% 13% Enterprises 7% FY 2019 FY 2020 Transport & 21% Communication Trade Contribution per Subsidiary 16% 66.7% Real estate

Split by currency 18.3% Foreign Currency Local Currency

7.3% FY 2019 36% 64% 100% 4.1% 3.6% 0.0%

EBKL Equity EBUL EBRL EBTL EBSL FY 2020 43% 57% 100% BCDC

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Focus Area 6: Asset Quality

NPL’s –Industry vs EGH Plc as at December 2020 NPL per sector as at December 2020

Industry-Kenya Group 15.5% 13.6% 14.1% 12.7% 13.1% 12.0% 11.0% 10.9% 11.0% 10.7% 10.4% 9.1% 9.0% 4.6% 5.4% 3.2% e e E o al er es es r g t u r M i s i s o t i c a r S T u m L u l p r p r M n s i c e r e r r o g n t n t Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 C A E E

NPL Coverage NPL Ratios NPL per Subsidiary as at December 2020 Group Group 35.4% 86% 89% 73% 64% 10.9% 10.7% 10.4% 11.0% 11.5% 9.0% 4.9% 2.9% 1.2%

L L L C y S t D B T BKL BRL B U B S E E E E B C qu i E

Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2020 E

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Focus Area 6: Asset Quality v Contribution to total provisions as at December 2020 Coverage and provisions as at December 2020

52.3

Stage 1 8% 34.9

Stage 2 13.0

25% 89.4%

4.4 59.7% Provisions (Kes Bn) 16.6%

67% 1.1% Coverage (%) Stage 1 Stage 2 Stage 3 Total Stage 3

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Focus Area 6: Asset Quality

As part of the Group’s commitment to support lives and livelihoods and keeping the lights of the economy on, the Group accommodated Kes 171 billion of loans. The group’s gross loan book is Kes 530 billion, so this represents 32% of the loan portfolio. However, as at the end of the year, Kes 40 billion had resumed repayment and Kes 9 billion had been downgraded to NPL (Stage 3). Kes 122 billion therefore remains under moratorium constituting 23% of the loan book analysed as below:

Overall loan book split in Kes Billion COVID-19 accommodated loans split by economic sector Non-performing 11% Energy & water Manufacturing Food & Agriculture COVID-19 7% 5% Building & construction accommodated 23% 3% Personal household Tourism & Hospitality 8% 2% Financial services 1% 66% 1% Performing Mining & 8% quarrying

COVID-19 accommodated loans split by customer segment Transport & Agriculture Consumer 9% communication 33% 2% Real estate 16% 1% Micro enterprises

23% SME 18% Large 63% Enterprises Trade

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Focus Area 7: Efficiency and Cost Optimization

Kes Billion Staff Cost Trend Other Expenses Trend Cost to Income Ratio Cost to Assets Ratio (Without Loan Loss Provision) (Without Loan Loss Provision) EBKL EBKL EBKL EBKL 16.6 16.5 15.7 47.8% 46.4% 41.5% 5.6% 9.7 8.6 4.6% 4.5% 7.7

FY 2018 FY 2019 FY 2020 FY 2018 FY 2019 FY 2020 FY 2018 FY 2019 FY 2020 FY 2018 FY 2019 FY 2020

Group Group Group Group 29.7 52.4% 51.1% 25.4 48.5% 23.4 6.5% 6.3% 15.4 5.7% 12.8

7.7

FY 2018 FY 2019 FY 2020 FY 2018 FY 2019 FY 2020 FY 2018 FY 2019 FY 2020 FY 2018 FY 2019 FY 2020

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Focus Area 7: Efficiency and Cost Optimization

Group

Net Interest Margin Yield on Interest Earning Assets

% % 8.3 8.0 7.8 10.8 11.2 10.7 7.6 7.5 10.4 10.2 10.0 7.2

Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020

Cost of Funds

% 2.8 2.9 2.8 2.9 2.7 2.8

Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020

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Focus Area 7: Efficient Financial Intermediation

13.0 12.7% 12.6% 12.3% 12.4% 12.5 12.1% Equity Yield on Loans 11.9% 12.1% 12.1% 12.0% 11.9% 12.0 11.7% 11.6% 11.5 11.3% 11.3% 11.1% 11.2% Equity Group’s 11.0% 10.8% 10.7% lending yields 11.0 10.5% Equity Yield on Govt Securities compared to 10.9% 10.3% 10.5 10.0% 10.3% 10.5% 10.4% 10.5% Tier 1 Banks Yield on Loans Kenyan Tier 1 10.0% 10.1% 10.0 9.6% 10.0% 10.0% 10.3% Banks. Lending 9.3% 9.5 10.0% 9.1% yields reflecting 8.9% 9.0% 9.3% 8.9% Tier 1 Banks Yield on efficient asset 9.0 Govt Securities allocation between 8.5 asset classes Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020

4.0 3.7% 3.7% 3.8% 3.6% 3.6% 3.5% 3.5% 3.5% 3.5 Equity Group’s 3.3% 3.4% 3.4% 3.1% 3.2% 3.2% 3.1% 3.0% ability to attract 3.0% 3.1% Tier 1 Banks Cost of Funds cheap deposits 3.0 2.8% 2.9% 2.7% 2.7% 2.7% 2.9% 2.8% Equity Cost of Funds underpinned by its 2.6% 2.8% 2.8% 2.7% 2.7% Tier 1 Banks Cost of Deposits stable deposit 2.5 franchise and 2.4% 2.4% 2.4% 2.4% Equity Cost of Deposits 2.4% 2.4% 2.3% 2.4% 2.3% implied low risk 2.2%

Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Tier 1 Banks excludes Equity Group. Industry data available up toQ 4 2020 for Banks that have published their results as at 26th March 2021.

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Focus Area 8: Efficient Financial Intermediation Impact & Social Investment Programs

USD 465 M in Social Investment Programs

YOUR HEA11%DLFinanINcial EduE cation & Entrepreneurship WILL SIT HEREHealth 5%

Equity Leaders Program Agriculture 35% 3% 1% Energy & Environment

45% Wings to Fly Program

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Focus Area 8: Impact Investment Shared Prosperity Business Model and its Social Impact

30,000 26,304 2019 Wings to Fly Graduates 25,000 26,304 • 96% secondary school completion 2M 20,000 • 82% attained university entry Scholarships 16,168 15,168 Farmers impacted 14,168 grades 15,000 12,488 YOUR HEA DL IN E T 10,572 Equity Leaders Program 10,000 8,569 6,557 • 13,775 University Scholars 3,643 WILL SIT HERE 5,000 39,589 1,500 • 633 attending or alumni of global 172 Small and Medium Sized - universities 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 • 6,713 Paid Internships Farmers Supported 3,330,195 Households Reachedw ith Social 3.12 Million 2,182,615 Trees planted Women and Youth Protection Programs Trained in Financial Education KES 77.4B 243,903 Disbursed via Cash Transfers Clean energy products distributed 121,478 33 MSMEs Trained in Entrepreneurship USD Equity Afia Active Facilities KES57.5B 464,512,524 305,560 Disbursed to 141,106 MSMEs under the Total Funds Raised for Programs Cumulative Patient Visits to Young Africa Works Program Equity A a Clinics

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Global Ratings and Accolades

Equity Bank Credit Rating • National Rating: B2 2020 Oslo Business for Peace Award • Global Rating: Aaa.ke/KE-1 Dr. James Mwangi. • Rating Outlook: Negative Same as the sovereign rating

• Position 20 globally on Return on Assets • Position 7 overall • Position 5 on soundness • Position 62 globally on Soundness • Position 9 on growth performance (Capital Assets Ratio) • Position 8 on return on risk • Position 55 globally on Profits on Capital 2020 AFRICAN BANKS 2020 • Position 6 on leverage category • Position 754 largest bank globally • Position 6 on profitability

Africa’s SME Bank of the Year, 2018, • Best Bank in Africa 2019 & 2020 • Best Digital Bank in Africa • Excellence in Leadership in Africa

African Business Leadership Awards 2020 2020 • African CEO of the Year - Dr. James Mwangi

Equity Bank Credit Rating • Long Term Rating: AA- Africa’s top 150 most valuable brands • Short Term Rating: A1 • Position 2 - in Kenya • Rating Outlook: Negative • Position 69 - in Africa

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Global Ratings and Accolades

• Bank of the Year- Kenya 2019 • Bank of the Year - Uganda 2019 • Bank of the Year - Rwanda 2020 • Bank of the Year - DRC 2020 • Bank of the Year- South Sudan 2019 & 2020 • Socially Responsible Bank in Africa, 2020 Bank of the Year 2019 & 2020 • Best Regional Bank - East Africa - Equity Bank 2020 • African Bank of the Year, 2018 • African Banker of the Year, 2018 (Dr. James Mwangi) • Best Retail Bank in Africa, 2017 Customer Satisfactory Survey 2020 • Best Tier 1 (3rd place) - Customer Responsiveness and Satisfactory Digital Experience

Equity Bank has been recognised for the last 13 Years since 2007 as the Top Banking Superbrand in Kenya. Top Acquirer 2019 Award

• EABC Chairman’s Award - Overall Best Regional Company, 2018 • Best East African Company - CSR, 2018 • Best East African Company - Financial services, 2018 (1st Runners up) • Best Overall Winner – 1st Runners Up • Most Innovative Bank – Winner • Best in Sustainable Finance – 2nd Runners Up Dr. James Mwangi, named to the 3rd Annual 2019 Bloomberg 50 list

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2020 National Banking Awards and Accolades

1. Best Overall Bank - 9 years running 2. Best Bank in Tier 1 - 6 years running Brand 3. Best Bank in Sustainable CSR - 4 years running 4. Most customer-centric bank - 3 years running 5. Bank with the lowest charge for individuals - 4 years running

1. Best Bank in SME Banking - 2 years running 2. Best Bank in Retail 3. Best Bank in Agency Banking - 6 years running Franchise 4. Best Bank in Mobile Banking- 3 years running Segment 5. Best in Microfinance - 6 years running 6. Best Bank in Internet Banking 1st Runner Up 7. Best Bank in Corporate Banking 1st Runner Up 8. Bank with the lowest charge for loans 1st Runner Up

1. Best Bank in Mortgage Finance 2. Best Bank in Agriculture and Livestock Financing - 2 years running 3. Special Judges Award for Product Innovation Elimu Scholarship Product 4. Best Bank in Product Marketing 1st Runner Up 5. Best Bank in Product Innovation 1st Runner Up 6. Best Bank in Trade Finance 1st Runner Up - 3 years running

1. CEO of the ear Dr. James Mwangi - 4 years running Leadership 2. Corporate Banker of the ear Moses Ndirangu 3. Outstanding oung Banker Dennis Maranga

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Global Ratings and Accolades

Equity Group’s MD and CEO, Dr. James Mwangi, was honoured in the 2019 Bloomberg 50 list. This is an honorary list of fifty innovators, entrepreneurs, and leaders who have impacted the global business landscape in measurable ways. Dr. Mwangi was lauded for his contribution in steering Equity Bank to have presence in the greater Central and Southern Africa region. He was honored alongside environmental activist Greta Thunberg, New Zealand Prime Minister Jacinda Ardern, CNN President and Warner Media Chairman Jeff Zucker, Singer and entrepreneur Rihanna, among others.

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Global Ratings and Accolades

Dr. James Mwangi honouree, 2020 Oslo Business for Peace Award

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Market Validation

Kes Billion

Market Capitalization

157.9 As at 31st Dec 2020 136.8 135.0 As at 25th Mar 2021 123.4

79.5 73.6

54.6 55.4 51.7 48.6 43.8 37.8 37.1 35.6 33.6 32.5 21.5 19.6

EQUITY KCB COOP STANCHART ABSA NCBA I&M STANBIC DTB

Source: Business Daily January 5thSou andrc eMarch: Bus 25thine ss2021 Daily January 5th 2021 and March 25th 2021

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Intermediation and Financial Performance

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Balance Sheet

KES Billion FY 2019 FY 2020 Growth

Assets Cash & Cash Equivalents 86.4 247.1 186% Government Securities 172.2 217.4 26% Net Loans 366.4 477.8 30% Other Assets 48.7 72.8 50% Total Assets 673.7 1,015.1 51%

Liabilities & Capital Deposits 482.8 740.8 53% Borrowed Funds 56.7 97.1 71% Other Liabilities 22.4 38.6 72% Shareholders' Funds 111.8 138.6 24% Total Liabilities & Capital 673.7 1,015.1 51%

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Income Statement

KES Billion FY 2019 FY 2020 Growth Interest Income HE AD59.7 LI N E7 3.8 24% Interest Expense 14.7 18.7 26% Net Interest Income WILL SIT 45H.0 ERE 55.1 23% Non-Funded Income 29.8 37.8 27% Total Income 74.8 92.9 24% *Loan Loss Provision 4.3 25.9 496% Staff Costs 12.8 15.4 20% Other Operating Expenses 25.4 29.7 17% Total Costs 42.5 71.0 67%

Net Loss on Monetary Assets 0.8 0.9 24% Gain on bargain purchase - 1.2 100% PBT 31.5 22.2 -30 Tax 8.9 2.1 -77 PAT 22.6 20.1 -11% Earnings per share 5.9 5.2 -12%

*Loan loss provision has been presented net of recoveries. In the CBK KES Bn FY 2019 FY 2020 publication Loan Loss Provision is presented as a gross amount. The gross Gross loan loss provision 5.3 26.6 provisions and recoveries are as follows; Loan recoveries 1.0 0.7 Net loan loss provision 4.3 25.9

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RoAE and RoAA Trend

RoAE 28.7%

FY 2019 21.8% FY 2020 17.9% 15.3%

EBKL Group

RoAA 4.0% 3.6%

FY 2019 2.4% 2.3% FY 2020

EBKL Group

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Financial Ratios

EBKL EBKL Group Group FY 2019 FY 2020 FY 2019 FY 2020 Profitability Interest Yield from Loans & Advances 11.6% 11.6% 12.6% 12.4% Interest Yield from Gov’t Securities 10.2% 10.9% 10.1% 10.7% Yield from Earning Assets 11.0% 10.3% 11.2% 10.0% Cost of Deposits 2.2% 2.4% 2.4% 2.3% Cost of Funds 2.8% 2.8% 2.9% 2.8% Net Interest Margin 8.2% 7.5% 8.3% 7.2% Cost to Income Ratio with Provisions 52.2% 77.5% 57.0% 76.4% Cost to Income Ratio without Provisions 46.4% 41.5% 51.1% 48.5% Return on Average Equity 28.7% 17.9% 21.8% 15.3% Return on Average Assets 4.0% 2.4% 3.6% 2.3% Asset Quality PAR 8.1% 11.5% 9.0% 11.0% NPL Coverage 72.1% 99.4% 66.0% 89.4% Cost of Risk 1.3% 7.9% 1.3% 6.1% Leverage Loan / Deposit Ratio 72.7% 63.0% 75.9% 64.5% Capital Adequacy Ratios Core Capital to Risk Weighted Assets 13.1% 12.4% 16.3% 14.8% Total Capital to Risk Weighted Assets 17.4% 16.2% 19.8% 18.9% Liquidity Liquidity ratio 54.7% 73.1% 52.1% 59.3%

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2021 Outlook - Group

2021 Outlook FY 2020 Actual

Loan Growth 25% - 30% 30% Deposit Growth 20% - 25% 53%

Net Interest Margin 7.0% - 8.0% 7.2% Non Funded Income Mix 38% - 43% 41% Cost to Income Ratio 40% - 45% 48.5%

Return on Equity 22% - 27% 15.3% Return on Assets 3.0% - 4.0% 2.3%

Cost of Risk 2.0% - 3.0% 6.1% NPL 7% - 10% 11.0%

Subsidiaries Contribution (Assets) 40% - 45% 39% Subsidiaries Contribution (PBT) 25% - 30% 34%

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Macroeconomic Environment Indicators & Trends - Kenya

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Macroeconomic Environment - Kenya

8.00% 6.00% 4.00% § QUARTERLY GDP GROWTH – The IMF 2.00% projects the economy to grow by 4.7% in 0.00% 2021 but still faces signi cant risks, -2.00% including the uncertainty around the -4.00% 1 201 8 2 201 8 3 201 8 4 201 8 1 201 9 2 201 9 3 201 9 1 202 0 2 202 0 length and severity of the pandemic, -6.00% Q Q Q Q Q Q Q Q Q unpredictable weather conditions and the pace of the global economic recovery.

112

110 108 § USD/KES – It is expected that the shilling 106 may weaken in the short term to medium

104 term as the Kenyan economy continues to

102 recover from the eects of the COVID-19 and the global economic slowdown. 100 20 -20 -20 - -20 -19 -20 -20 -20 -19 -20 -20 l r-20 t-20 c c c c g v-20 n p b c p u o e e 6- O 8- S 3-D e 1-D e 14-J u 3- N 28-Ja n 16-J u 21- A 25- F 31-D e 29-D e 11- A 24-Ma r 19-May-20

Source: CBK Rates, foreign exchange rates and the Kenya National Bureau of Statistics, Quarterly GDP rates, IMF.

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Macroeconomic Environment - Kenya (continued)

8.00 7.00 6.00 5.00 4.00 3.00 § Interbank Rates – Government 2.00 1.00 payments and Commercial bank’s 20 -20 -20 - -20 -20 -19 -20 -19 -20 -20 -20 l excess reserves continued to ensure r-20 t-20 c c c c g v-20 n p b c p a r u o e e - M 6- O 8- S 1-D e 3-D e that the market remained liquid 14-J u 3- N 28-Ja n 16-J u 21- A 25- F 29-D e 31-D e 11- A 2 4 19-May-20

10.00 9.50 9.00 8.50 8.00 7.50 § T-Bill Rates – Interest rates seen to 7.00 6.50 be gradually rising across the tenors 6.00 5.50 20 -20 -20 - -20 -19 -20 -20 -20 -19 -20 -20 l r-20 t-20 c c c c g v-20 n p b c p u o e e 6- O 8- S 3-D e 1-D e 14-J u 3- N 28-Ja n 16-J u 21- A 25- F 31-D e 29-D e 11- A 24-Ma r 19-May-20

91 Day 182 Day 364 Day

Source: CBK Statistics, Rates, Interbank rates and Treasury rates.

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Macroeconomic Environment - Kenya (continued)

6.50

6.00 § Inflation – In ation has been on an 5.50 upward trajectory from Q3 2020. It edged up slightly to close at 5.62% in Q4 5.00 2020 on account of a month-to-month 4.50 food and non alcoholic drinks index

4.00 increasing due to an increase in prices 20 -20 -20 -20 -19 -20 -20 -20 -20 - -20 l r-20 t g v-20 of particular food items. n p b c p u o e e J u Ja n J u O A S F De c De c A N Ma r May-20

10,000 6.00

9,500 5.50 9,000 § FX Reserves – Seen a drop on the FX 5.00 8,500 reserves from Q2 2020 as the 8,000 4.50 tries to cushion the local currency from 7,500 4.00 uctuations. 20 -20 -20 - -20 -20 -20 -19 -20 -20 -20 l r-20 t-20 c c c g v-20 n p b c u o e e -A p 2-Jan-20 8- O 5-D e 3-D e 16-J u 5- N 30-Ja n 18-J u 2 3 10- S 27- F 31-D e 13- A 26-Ma r 21-May-20 FX Reserves Months of (USD Mio) Import Cover

Source: CBK Weekly Bulletin Key monetary & financial indicators and the Kenya National Bureau of Statistics, Monthly CPI rates.

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Projected Regional GDP Growths

Forecasts as at November 2020

8.0

6.1 6.3 5.4 5.6 4.7 4.9 3.6 3.6 3.1

0.8

-2.3 Kenya Uganda Tanzania Rwanda DRC S. Sudan

2021 2022

Source: Focus Economics & IMF

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Regional Currencies Depreciation against USD

3,800 3,790.0

3,750 3,730.0 3,715.0

3,700 -1.5% 3,664.3 3,660.1 3,650 USD/UGX 2,315.0 2,317.5 2,320.0 2,321.5 2,298.0 USD/TZS +0.1% 2,300 1,964.7 1,954.5 USD/CDF 1,950 +0.5% 1,909.2 1,700 1,685.0 972.5 956.8 USD/RWF 937.1 +1.6% 950 923.0

900 200 168.0 177.3 161.8 163.8 USD/SSP** +5.5% 150 130.3 108.5 109.3 101.4 105.3 106.7 USD/KES 100 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020

*Regional currencies marginally affected by the US dollar exchange rate. **USD/SSP rates are as per Bank of South Sudan(BOSS)

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Regional Outlook

ganda

§ § §

Tanzania

§ §

Source: IMF, Fitch Ratings & Focus Economics.

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Regional Outlook (continued)

Rwanda

§ § § § §

DR Congo § § §

Source: World Bank, Fitch Ratings & Focus Economics.

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Regional Outlook (continued)

South Sudan

§ §

Source: World Bank, Fitch Ratings & Focus Economics.

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Notes

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Notes

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Notes

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69 Equity Centre P.O. Box 75104–00200, . th EquityTel: 0763063000, Centre, Fax:9 Floor,+ 254-020-2737276, UpperHill [email protected],P.O.Box 75104, www.equitygroupholdings.com Nairobi. @keEquityBankTel: 0763 063 keEquityBank 000 [email protected],www.ke.equitybankgroup.com www.equitygroupholdings.com @keEquitybank @keEquitybank www.ke.equitybankgroup.com

EQUITY GROUP HOLDINGS PLC AND EQUITY BANK (KENYA) LIMITED ARE REGULATED BY THE . EQUITY GROUP HOLDINGS PLC AND EQUITY BANK (KENYA) LIMITED ARE REGULATED BY THE CENTRAL BANK OF KENYA.