BK Group Plc Investor Presentation Q1 2020

Page 1 Agenda

1. Key Investment Highlights

2. Country Overview Information

3. Banking Sector Overview

4. Overview

5. Corporate Governance

6. Business Overview

7. Review of Financial Performance

8. Strategic Outlook

9. Contact Information

Page2 2 Key Investment Highlights

Best Bank in 2019 Politically stable country with sound governance; Very attractive demographic profile: population of 12.4 Million; Sound Macro Robust economic growth averaging 8% pa in the last 5 years, expecting double digit GDP growth into 2020; Fundamentals Moderate inflation with rate of 13.1% as at March 2020; The 2019 World Bank Doing Business Report ranked Rwanda as the 38th out of 190 economies in terms of ease of doing business and 2nd in Africa

Euromoney Award for Excellence 2019 Well regulated banking sector: fairly conservative regulator relative to other regulators in the EAC; Significant Significant headroom for growth given under-banked and excluded population; Banking Sector Potential Number of financially excluded population reduced from 11% in 2016 to only 7% in 2020; Total assets/GDP of 38.2% as at 31st December 2019.

Strong Market positioning & sustainable leadership; Total assets FRw 1,1 billion, 29.9% market share as at March 31st, 2020; Market Net FRw 678.6 billion, 33.3% market share as at March 31st, 2020; AA+/A1+ Credit Rating Leadership Customer Deposits FRw 685.1 billion, 30.2% market share as at March 31st, 2020; Shareholders’ Equity FRw 224.9 billion, 34.3% market share as at March 31st, 2020.

Relatively high capital adequacy ratios since 2010 averaging > 20%; The rating reflects the Bank’s established domestic franchise value, Conservative Manageable level of non-performing 5.7% of gross loans as at March 31st, 2020; strong capital position, its systemic Business Liquid assets holding of 48.1% (minimum requirement 20%) at March 31st, 2020; importance, strong asset quality and Model financial performance. Liquidity Coverage Ratio stood at 147.1 (minimum requirement 100%) as at March 31st, 2020.

Best Financial Reporting Company - Experienced Management team with significant banking sector experience; Rwanda 2019 Management Complemented by an experienced and diversified Board of Directors; Team Track record of producing stellar results.

Profitable Robust asset growth at a CAGR of 17.7% (2014 - 1Q 2020); FRw 1,1 billion as at March 31st, 2020; Growth ROAA ranging from 2.4% - 4.4% between 2014 and 1Q 2020.

Page3 3 COUNTRY OVERVIEW INFORMATION

Page4 4 Rwanda - Country Profile

National Facts Business Environment

Area 26,338 sq km Ranked Second after Mauritius as the best destination to do business in Population 12.4 Million Africa in the World Bank 2019 Doing Business Report. Official Languages Kinyarwanda, French, English Rwanda has implemented over 22 business regulation reforms in the Capital areas measured by the World Bank Doing Business Index. Today, (FRw) 930.7FRw = 1 US$ as entrepreneurs can register a new business online in 6 hours. Currency at March 31st, 2019 Rwanda maintains its position as East Africa’s most competitive economy Credit Rating B+ S&P Global Ratings February 2020 and second in Africa by Global Competitiveness Index Report 2017/18. Nominal GDP 2019 US $10 Bn Nominal GDP Per Capita 2019 US $800 Rwanda has championed the establishment of the Single Africa Nominal GDP 2020P US $11 Bn Air Transport. To this effect, the construction Nominal GDP Per Capita 2020P US $900 of Bugesera International Airport has been prioritized. Qatar Airways has agreed to take 60% stake in airport.​ Macro Economic Indicators International Congress and Convention Association (ICCA) - a global

Real GDP Growth rate - 2019 9.4% meeting industry network - ranked Rwanda as the 2nd most popular destination for international conferences and events on the continent. Real GDP Growth rate - 2020P 2.3% Inflation Rate - March 2020 13.1% Private Sector Growth - 2019 27.0% Private Sector Credit % GDP - 2019 21.5% Net Debt / GDP - 2019 47.9%

Currency Depreciation against USD - March 2020 0.9%

Foreign Reserves 2019 4-4.5 Months of Imports

Source: BNR, S&P Report, EIU

Page5 5 Sound Macro Fundamentals

GDP per Capita continues to grow Population Pyramid for Rwanda

Healthy GDP growth with moderating inflation

60% of the population is under 24 years. 93% of the population is under 54 years. 2.4% of the population over 65 years.

Source: Finscope Rwanda Report Source: Ministry of Finance and Economic Planning, NISR, S&P Rating

Page6 6 Macroeconomic Indicators

GDP Breakdown By Economic Activity 2019 Trade Structure

Rwanda’s exports are dominated by coffee, tea and minerals (tin, coltan and wolfram). The country remains a net importer. Major imports include fuel and oils, intermediary goods especially construction materials, consumer goods, and capital goods driven by ongoing infrastructure projects. Other services include Real estate activities 8%, public administration 15%, 9% to mention but a few. “Made in Rwanda” has sought to improve the perceptions of Rwandan products within Rwanda, promote nascent industries, and boost the productivity of exporting sectors.

Source: BNR Monetary Policy Statement, NISR, International Growth Centre/MINEACOM Trade Deficit as a % of GDP Current Account Deficit as a % of GDP

Source: BNR, IMF, EIU

Page7 7 Review of the Macro Economic Environment

Macro Economic Review 2019 Inflationary Environment

In the fourth quarter of 2019, GDP at current market prices was estimated to be Frw 2,290 billion, up from Frw 2,130 billion in Q4 2018. In this quarter, services sector contributed 49 percent of GDP, agriculture sector contributed 25 percent of the GDP, Industry sector contributed 17 percent of the GDP and 9 percent was attributed to adjustment for taxes and subsidies on products.

Industry growth was 14% and contributed 2.5 percentage points to GDP growth. The main contributors in the industry sector were Construction activities which grew by 33% and Manufacturing activities which grew by 9%. Mining and Quarrying activities however decreased by 12%. Within Manufacturing, Metal products, machinery & equipment increased by 23%, and Chemicals and plastic products increased by 19% boosted mainly by the production of paints, plastic construction materials and Soaps. Exchange Rate Developments Agriculture growth was 5% and contributed 1.1 percentage points to overall GDP growth. Within agriculture, food crops production was 4% and did not change compared to the same quarter of 2018. Export crops decreased by 4% mainly due to the decrease of 11% in the production of Coffee. However other cash crops (incl. flowers, pyrethrum & sugar cane) also increased by 9%.

The service sector grew by 8 percent and contributed 3.7 percentage points to overall GDP growth. The growth in Services sector is due to an increase of 14% in wholesale & retails trade activities of locally made and imported products, 12% in transport services, 25% in Information and telecommunication, 13% in financial services, 12% in Hotel & restaurant services, 9% in Professional, scientific & technical activities, 8% in Administrative & support service activities, while Human health & social work activities decreased by 1%.

Source: BNR, NISR

Page8 8 BANKING SECTOR OVERVIEW

Page9 9 Significant Banking Sector Potential

Banking Assets/GDP Banking Assets Per Capita Large Unbanked Population

(US$) Economy is moving away from being cash-based through the various financial inclusion initiatives being undertaken by financial institutions including the launch of agency banking and mobile money transfer services. Approximately 70% of the population have or use financial products or mechanisms including those offered by non- bank formal financial institutions such as SACCOs

Source: Finscope Rwanda

Interest Rate Analysis

(1) Source: Exotic Frontier Equities (2) Source: Monetary Policy Statement (3) Source: Population stats by World Bank

10Page 10 Financial Sector Overview

Rwanda Banking System Total Assets Rwanda Insurance Sector Total Assets

Source: BNR Sectors Review

The Financial sector is expected to remain sound and stable. The annual Inflation rate stood at 13.1%, while the FRw depreciation against the USD stood at 0.9%.

Banking assets registered annual growth rate of 4.8% to FRw 3,643 trillion in March 2020 from FRw3,476 trillion in December 2019.

Profitability indicators in March 2020 stood at 2.0% and 12.0% for Return on assets (ROA) and return on equity (ROE) from 2.1% and 12.0% respectively, in the same period in 2019.

The asset quality of the industry is generally improving; non-performing ratio (NPL ratio) stood at 5% as at March 2020 compared to 6.8% in March 2019.

Source : BNR

11Page 11 Timeline of Foreign Investment In The Rwandan Banking Sector

80% stake in BCR I &M Bank acquires 40% stake in Cogebanque 80% stake in BCR

2004 2007 2008 2009 2010 2011 2012 2014 2015 2016 2017

30% 70% stake in stake in 90% stake in CBA Acquires 100% Agaseke Bank C Rwanda BPR FINA Bank

2015 2016 2017 2018 2019 1Q 2020

Bank of Kigali Market Share by Total Assets 26.3% 26.8% 27.1% 28.4% 29.3% 29.9%

* Market share among banking sector

12Page 12 Market Share Dynamics

Market Share for Banking Sector Bank of Kigali vs. Banking Sector’ Growth, CAGR 2014 - 1Q 2020

Selected Indicators 1Q 2020 Market Share for Commercial 1Q 2020

Source: BNR, Published results for commercial banks

13Page 13 Strong Market Leadership - 1Q 2020

1 36.5% 41.6% 36.1% 45.6%

2 12.0% 12.3% 10.9% 9.2%

3 11.7% 10.3% 10.9% 9.0%

4 10.0% 9.8% 10.7% 8.9%

5 8.0% 9.0% 8.1% 6.2%

6 6.6% 8.4% 6.3% 5.9%

7 5.1% 2.5% 6.3% 4.6%

8 3.6% 2.2% 4.3% 4.0%

9 3.1% 1.5% 3.8% 3.1%

10 1.8% 1.2% 1.5% 1.8%

11 1.5% 1.2% 1.1% 1.6%

Source: 1Q 2020 Published Results

14Page 14 BANK OVERVIEW

15Page 15 Background and History

16Page 16 A Snapshot of Bank of Kigali

Key Facts

BK Group Plc is a holding company with 4 subsidiaries: Bank of Kigali Plc, BK General Insurance, BK TecHouse and BK Capital Ltd. The Group has 1,276 employees. Its largest subsidiary, Bank of Kigali Plc, is the leading bank in Rwanda by Total Assets with 29.9% market share as at March 31st, 2020. It offers a wide spectrum of commercial banking services to Corporate, SME and Retail customers. As at December 31st, 2019 the Bank had: 24,551 Corporate clients 337,211 Retail clients 68 Branches 94 ATMs and 2,341 POS 1,812 Agents Western Union, Money Gram services for International Transfers Branch Network Evolution

Growth in ATMs, POS Terminals and # of Retail Clients

17Page 17 CORPORATE GOVERNANCE

18Page 18 Shareholding Structure & Corporate Governance

Shareholding Structure as at March 31st, 2020 Corporate Governance

Corporate Governance is the backbone to any organization’s strategy and success. It provides a framework within which corporate objectives are set and performance monitored, as well as providing assurance to investors that they will receive a return on their investment. The Board is composed of eight directors; 7 non-executive and Independent directors, 1 non-executive and non independent director that represent shareholder’s interests. The Board of Directors is appointed by the shareholders and approved by the and meets on a quarterly basis or more frequently as the business demands. The Board is committed to having a great ‘mix’ of qualified individuals appointed to the Board, as diversity is not only a strength but also provides a great competitive edge. The Board sets the strategy and retains full responsibility for the direction and control of the Bank as spelled out in the Memorandum and Articles of Association, the Board Charter and the BNR Corporate Governance guidelines. The Board sub-committees have clear TORs which underscore the scope and context of their mandate and performance as approved by the Board & the BNR Corporate Governance regulation. The Board receives detailed financial information and regular presentations from the management on the Bank’s business performance; this enables the Free float- 60% Directors to make informed decisions on governance, strategic, financial and operational issues.

19Page 19 Share Trading Performance

Analyst Coverage March 31st, 2020 Current price, FRw 260 Market Cap, US$ mln 252.7 Recommendation: BUY Common shares outstanding, mln shares 904.5 Target Price: FRw 311 12-month high 278 Last coverage report: June 2020 12-month low 259 P/E 2019 (based on current price) 6.28x Recommendation: HOLD P/BV 2019 (based on current price) 1.07x Target Price: FRw 271 Dividend yield, 2019 (based on current price) 5.3% Last coverage report: June 2020 EPS, 2019 41.4 Ticker Code BOK Bloomberg BOK Recommendation: BUY Target Price: FRw 309 FRw/USD Exchange Rate of 930.7 at March 31st, 2020 (BNR Middle Rate) Last coverage report: May 2019 *Capital gains on RSE transactions are exempted from Capital Gains Tax

Book Value/Share Earning Per Share (FRw)

Page 20 20 Share Price Performance

Dividends Per Share (FRw) P/E ratio and P/B

21Page 21 BUSINESS OVERVIEW

22Page 22 Overview of the Loan Book

Gross Loan Portfolio Corporate Loan Book 1Q 2020

Total Loan Book 1Q 2020 Loans and Advances to Clients

23Page 23 Overview of Deposit Structure

Total Deposits Growth Funding Structure: FRw 1,090.6 Bn

Total Liabilities: FRw 866.0 Bn Customer Deposits Concentration 1Q 2020 Customer Balances and Deposits

24Page 24 Corporate Banking

Description Corporate Loans: FRw 631.7 Bn Corporate Deposits: FRw 501.2 Bn Clients include large corporates, SMEs and NBAs* Interest rates are in the 16.0% - 18.5% range. Key products: CAPEX loans: long-term loans for investment or expansion of the business Commercial mortgage loans: typical customer participation at 30% of property value, typical tenor of up to 15 years Working capital loans: financing business needs to an agreed limit for a short period (usually <1yr) Overdrafts Strategy: Increase exposure on top corporates with increase in Number of Corporate Accounts obligor limit through capital raise. Exploit cash management platform upgrade for sticky deposits and advantaged pricing for credit products. Hence, increasing both loans and deposits.​ Introduce new services, integrate client coverage Grow and consolidate market share Leverage superior lending capacity Focus on payroll services

Merez *NBAs (Non Business Associations) include Non-Profit Organizations, Petroleum Charities, Religious institutions, Educational Institutions, Cooperatives, etc.

25Page 25 Executing The Retail Strategy

26Page 26 Retail Banking

Description Retail Loans: FRw 105.1 Bn Retail Deposits: FRw 185.4 Bn The Bank’s retail business is primarily focused on mortgages and consumer loans with notable share of salary backed overdrafts Key products: Mortgage loan: up to 15 years with typical customer participation at 30% of property value Vehicle loan: up to 5 years to individual clients Consumer loan: up to 12x monthly salary and 48 months Overdraft: up to 50% of monthly salary (normally repaid in 30-90 days) Other products include credit cards and asset based financing Strategy: Build sufficient channel capacity to be able to service 1,000,000+ clients in 2021 Through BKQUICK, a mobile solution towards savings and small loans, the Bank has been able to tap into the retail market competitively thus Retail Client Accounts increasing loans and deposits in the segment. BK recovered more than 50% of funds in BK Quick NPL in 2 months. Instant issuing of credit/debit cards

Our Products

Source: Bank of Kigali

27Page 27 Growing Our Distribution Network

Ubiquitous footprint Agency Banking

Agency Banking platform BK Yacu began operating in November 2012. Expanded the agency banking network to 1,812 operational agents as at March 31st, 2020. Agents are able to perform cash in and cash out transactions, open customer accounts as well as send and receive money.

28Page 28 Expanding Our Self Service Products

Growing our Card Business Increasing our Mobile Product Offering Key Achievements Enhancing our mobile banking service Our mobile banking service is available through BK Mobile Issuing MasterCard and Visa line of products (USSD code) or BK App allows customers to perform the Launch of e-Commerce acquiring following transactions: Send money to any mobile phone user Over 100,000 Visa cards and 85,000 MasterCards and regardless of whether they operate a bank are currently in circulation account or not; Union Pay and Diners Club Card Acquiring and Amex Purchasing prepaid TV or airtime, payment of utilities, taxes and Government e-services; ATM acquiring Check Balances and Bank information; Order cheque books; Funds transfers including Interbank;

29Page 29 IKOFI

IKOFI wallet is a universal digital financial solution targeting all Rwandans. The initial use case is for the Agricultural ecosystem, whereby Rwandan farmers and agro-dealers will be able to register using their NID or business certificates to start transacting with e-money and giving them the opportunity to create a Digital footprint while doing the very same things they do every day and join the formal banking sector thus having Access to Finance.

Farmers and Agro-dealers will have a fintech product tailored to suit their economic and personal lifestyles and which will open up a path into formal financial inclusion.

Payment of Agro Inputs will be much smoother with IKOFI has registered over 235,000 farmers and over minimal hustle by the Agro dealer. 1,700 registered agents as at March 31st, 2020; Both farmers and agro-dealers will build transaction A campaign is ongoing to significantly increase the history that will improve their credit worthiness number of field agents (increased proximity) and to close A benefit of free P2P for all customer the gap on activated accounts. Farmers incentive of weekly promotion of 1M RWF for a A benefit of free P2P for all customer period of 30 weeks Access to stock loans for eligible Agro dealers

Page 30 30 REVIEW OF FINANCIAL PERFORMANCE

31Page 31 Balance Sheet Highlights

Total Assets Net Loans and Advances Customer Balances and Deposits

Strong Potential For Growth in Customer Deposits Strong Capital And Liquidity Position Shareholder’s Equity

32Page 32 Asset Quality

Cost of Risk % Improving Coverage Ratio

NPLs by segment Manageable NPLs Ratio

33Page 33 Income Statement Highlights

Total Operating Income Total Recurring Operating Costs Net Profit

Net Interest Margin % Cost/Income ratio Returns To Shareholders %

34Page 34 Competitive Landscape - Rwanda 1Q 2020

Source: 1Q 2020 Published Results for Commercial Banks

35Page 35 Competitive Landscape - 1Q 2020

3.6% 3.5%

3.2%

Source: 1Q 2020 Published Results for Commercial Banks

36Page 36 STRATEGIC OUTLOOK

37Page 37 Strategic Outlook Objectives Strategies Outcomes

BK as a group intends to offer under one brand all Number of customers served by the group to reach Become the Universal financial services to its customers 1,000,000 by 2021 Financial Services provider of Choice for all Widen BK group scope of products and services Strengthen BK Brand across all segments of the Rwandans population. Grow Retail business, transactional revenue, Insurance, and brokerage and other services.

Provide main services of BK Group at Branch level Maintain manageable NPLs at less than 5%. Customer service champions to convert customers into digital Reduce concentration, introduce automated scoring models for Control Risk, strengthen systems and consumers personal loans, salary advances and SMEs loans. revolutionize customer Operational and Effective Call Centre Operational risk - enhance internal and external compliance experience solve customers pain points and ensure smooth and enjoyable Develop a business intelligence function to support decision making. customer experience. Provide key indicators in an easy format on a day to day basis.

Automation of processes, Integration of BK group systems to ensure a IT system stabilised at 99% uptime of core banking systems and on all channels Compliance with global IT standards Digital Financial single view of customers, grow the number of digital consumers to at Institution Focus on 4 pillars: Connectivity, Automation, Decision-making, Innovation least 20% of BK Group customers Establish and maintain a centralized data base for the group Digitize Manual processes - Back office functions in BK Bank and BKGI to be digitized Develop new digital channels ( Improve the APP, Prioritize mobile payments Attract and retain best talent in the industry such as mVisa) Targeted training in IT, Operations, Business Intelligence and Risk People Develop online training tools to ensure all BK Staff are regularly trained on Strong performance management systems policies, regulations

38Page 38 BK Digital Transformation Strategy The new digital vision for Bank of Kigali is “Giving anyone, anywhere the best customer experience through digital”

Vision Giving anyone, anywhere, the best customer experience through digital

Wow the customer Improve profitability Diversify Group 1 million new Overall revenue retail and SME increase in Aspirations 70% NPS 28% customers profit before tax 50% increase in score non-funded income Themes A Connectivity B Automation C Advanced Analytics D Innovation

Theme . Highest rated mobile app . Top 10 customer journeys . Cross-selling - 15% . 1 million new retail and Aspirations and critical processes increase in revenue per SME customers from Bk . 70% NPS score in digitized end-to-end customer TecHouse digital customer satisfaction Consumers . 40% reduction in . 20% reduction in churn . 99% system uptime operating costs, 50+% rate . 50% increase in non- across all channels reduction in turnaround funded income times, 40% of sales done . 25% reduction in gross . 50% reduction in queue digitally NPL inflow times

People Risk & Compliance Systems Pillars Training Improve Risk Culture Revamp Core Infrastructure Way of working - Agile Regulatory compliance Data Architecture Performance Management

39Page 39 Digital Initiatives 26 digital initiatives will be delivered over the next 3 years (in no particular order)

Connectivity Automation (cont.) Advanced Analytics

Market leading retail digital platforms (across Term loan for corporate, bank, OFI and SME Customer value retention 1 mobile app, web, USSD) 11 customers 18 Market leading corporate banking and SME 19 Advanced early warning systems 2 Trade finance for corporate, bank, OFI and digital platform (web, mobile) 12 SME customers 20 Cross and up-selling existing customers Account servicing for corporate, bank, OFI Automation 13 and SME customers 21 1-2-1 pricing 3 Account opening for retail customers Asset finance for corporate, bank, OFI and 22 RM Workbench 14 SME customers Collections optimization 4 Payments and transfers for retail customers Cards for corporate, bank, OFI and SME 23 15 customers 5 Mortgages for retail customers Innovation 16 Foreign exchange and money markets for 6 Credit cards for retail customers corporate, bank, OFI and SME customers 24 Agriculture ecosystem 7 Personal loans for retail customers 17 Reconciliation 25 SME ecosystem (incl. education) 8 Account servicing for retail customers 26 Payment ecosystem Account opening for corporate, Bank, OFI and 9 SME customers Cash management for corporate, Bank, OFI 10 and SME customers

Page 40 40 BK Insurance Strategy Plan

BKGI Designed Strategic Objectives

Vision To be a leading provider of innovative, high quality Insurance services.

Staff Up scaling, Profitability: 3Bn Customer Centricity. Enhance Governance Business Growth. Efficiency in Cost Motivation & Overall by 2023. Become a Wow & Controls 15% Annual Turn Management. Retention Aspirations Over. Expense Ratio of Company for customers. 30%.

Themes A Determine Growth Path B Costs Control C Key Structures operational D Skills uplift

Theme . Identify Target Markets . Agreements with Garages & . Credible BOD with governance . Design development plan for Aspirations Spare Parts Shops on prices & Insurance Knowledge key personnel . Design Relevant Products . Prompt investigations on claims . ERM in place with a fully . Fast Track teams with a long . Determine Distribution channels . Outsource skilled Loss functioning Risk Unit term orientation Assessors to mitigate valuation . Enhance Underwriting Skills . Empowerment of key personnel . 90% Retention of Customers risk . Risk surveys for big Risks . Maintain 30% ration of . Enhance Internal Audit Unit . Establish staff recognition . Enhance Banc-assurance operating costs . Determine Risk Apetite schemes . Automate process framework . Clear growth path . Hire Insurance Agents . Digitise channels. Motor & Fire . Management Performance . Staff satisfaction surveys offered digitally Reviews . Meticulous Claims Analysis . Own Risk Registers & train Risk . Prudent risk assessment Champions.

Foundational Key Distribution Channels: Design a Customer Service Charter Issues Direct Sales Put in place Service Delivery Standards Intermediaries Encourage customer Feedback People Digital Channels offerings Design communication strategy Leveraging Banc-Assurance Improve product packaging/offering

41Page 41 BK TecHouse Strategy Plan

The 3 years strategy vision is “ Creating innovative and digital solutions that bring value to BK Group Plc.”

Vision Create innovative and digital solutions that bring value to BK Group Plc.

Scale up existing systems Improve the company profitability Enhance governance and internal Overall and keep increasing the through the Big data Business control systems Aspirations digital users up to 2,000,000 with a positive EBITDA starting from 2020

Themes A Innovative Digital Platforms B Growth Path C Meet the operational best practices Agriculture . Design Big Data Business Module Theme and start monetizing developed . Strong Internal control system; Aspirations . Create new digital solutions that Digital Platforms through below enable BK Group to create digital products portfolio: . Clear KPI management framework & business opportunity through ‒ Data Access Implement the Performance management digital offering in Agriculture; ‒ Software As a Service Framework ; ‒ Data Analytics Education . Maximize profitability and cash . Efficiency in cost management ; . Create new digital solutions that flow while maintaining annual enable BK Group to create business growth to 20%-25% business opportunity through digital offering in Education Sector;

Foundational issues Public Private Partnership with Regulatory and Policy framework on Strong operational structure MINAGRI, RAB & NAEB the Big Data

42Page 42 BK Capital Strategy Plan BK Capital’s mission is to serve as a trusted partner to its clients by responsibly providing financial services and advisory to its clients’ finances

Vision To be the most trusted financial partner offering Innovative financial solutions

Position BK Capital as the Grow Assets Under Adopt flexible financing and Develop teams with leading Advisory & Fund Management to fundraising models, beyond expertise and build a track Overall Manager in Rwanda $50 Million by capital markets to source record of successful deal Aspirations and a major player in 2023 additional capital for execution East Africa opportunities

Wealth & Fund Themes A Strategic Positioning B C Financing & Fundraising D Human Capital Management

Theme . Develop strategic partnerships Develop a diverse suite of Develop a variety of capital raising . Build the human capital that will Aspirations with brokers, fund houses and products: channels through: meet the long term objectives of financial solutions providers • Income fund for sale to local being the “benchmark” in the servicing clients across Africa and International Investors • Private Placements market

. Develop Innovative products for • Exchange Traded Funds (ETF) • Mergers & Acquisitions (M&A) . Develop Risk Management the Rwandan and regional with Investments in a basket of Policies concerning good market securities • Private Equity market practices

. Develop systems & processes • East Africa Equity & Fixed Capital Market Channels through: . Develop In-house proprietary across the products we offer Income fund attracting reporting and Investment International & local Investors to • Corporate Bonds management tools . Market Reports and research focus on blue chips stocks Insights that will drive decision • Etc… • Initial Public Offers (IPOs) making

Foundational Issues Strategic Partnerships Systems & Processes People

43Page 43 Management Targets

2020 - 2021 Outlook 1Q 2020 Actual Loan Growth 10% - 20% 12.5% Deposit Growth 15% - 25% 21.8%

Net interest Margin 10.5% - 11% 11.5% Non Funded Income 20% - 30% 20.1% Cost to Income Ratio 40% - 45% 35.5%

Return on Equity 15% - 20% 11.2% Return on Assets 2.5% - 3.5% 2.4%

Cost of Risk 3% - 5% 7.0% NPLs ≤ 5% 5.7%

45Page 44 Contact Information

For further information please contact:

Marc Holtzman Dr. Diane Karusisi Chairman of the Board Chief Executive Officer Email: [email protected] Email: [email protected] Mobile: +250 788 143 501 Mobile: +250 788 143 501

Emmanuel Batanage Christa Sangwa Company Secretary Investor Relations Manager Email: [email protected] Email: [email protected] Mobile: +250 788 143 506 Mobile: +250 788 143 565

Visit our website, www.bk.rw/investor-relation to access our Investor Presentations, Press Releases and Annual Reports. Telephone number: +250 788 143 000 Address: KN4 Avenue, PO Box 175, Kigali, Rwanda.

Page 45 Disclaimer

This presentation contains statements that constitute “forward-looking statements”, including, but not limited to, statements relating to the implementation of strategic initiatives and other statements relating to our business development and financial performance.

While these forward-looking statements represent our judgments and future expectations concerning the development of our business, a number of risks, uncertainties and other factors could cause actual developments and results to differ materially from our expectations.

These factors include, but are not limited to, (1) general market, macroeconomic, government policies, legislative and regulatory trends, (2) movements in local and international currency exchange rates, interest rates and securities markets, (3) competitive pressures, (4) technological developments, (5) changes in the financial position or credit worthiness of our customers, obligors and counterparties and developments in the markets in which they operate, (6) management changes and changes to the Bank’s structure and (7) other key factors that we have indicated could adversely affect our business and financial performance, which are contained elsewhere in this presentation and in our past and future filings and reports, including those filed with the National Bank of Rwanda and the .

We are under no obligation (and expressly disclaim any such obligations to) update or alter our forward-looking statements whether as a result of new information, future events, or otherwise.

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