Roadshow Presentation (June 2020) Agenda

 Overview of MCB Group

 Strategic orientations

 Economic outlook

 Impact of COVID-19 on our business

 Financial performance

 Appendix

2 Overview of MCB Group

3 Snapshot

Established some 181 years ago…

MCB Group is an integrated banking and financial services player

No. 1 on local bourse Market capitalisation Broad & diversified base Market share ~ 26% USD 1.3 billion > 21,000 shareholders

Total assets Workforce Customers USD 13 billion > 3,600 > 1 million

4 Credentials

Rankings The Banker Top 1000 World Banks (July 2019)

Financial soundness

613th Return on assets: 49th 19th 1st Capital assets ratio: 108th Profit on capital: 109th Among the In Africa In East Africa Top 1000 Banks (in terms of Tier 1 Capital) Credit Ratings Best rated MCB Ltd commercial Agency Long term/Short term Outlook bank in Africa Moody’s Investor Service Baa2/P-2 Negative Fitch Ratings BBB-/F3 Negative in terms of long-term deposit rating (Moody’s Investors Service)

5 Group structure

MCB GROUP LTD

BANKING* NON-BANKING FINANCIAL* OTHER INVESTMENTS*

100% MCB INVESTMENT HOLDING LTD (100%) MCB Capital Markets Ltd 57.73% Fincorp Investment Ltd

100% MCB Equity Fund Ltd 100% MCB Ltd

100% MCB Leasing Ltd (formerly Finlease) 49.99% Banque Française Commerciale Océan Indien (Associate) 100% MCB Properties Ltd 100% MCB Factors Ltd 35% Société Générale Moçambique 80% International Card Processing Services Ltd (Associate) 100% 100% MCB Microfinance Ltd MCB Consulting Services Ltd 10% 80% MCB Madagascar SA 80% MCB Institute of Finance Ltd 40% Credit Guarantee Insurance Co. Ltd 100% (Associate) MCB Seychelles Ltd 100% MCB Group Corporate Services Ltd

100% MCB Real Assets Ltd 100% 100% MCB (Maldives) Private Ltd Mascareignes Properties Ltd

100% MCB International Services Ltd

* Relate to clusters 100% MCB Forward Foundation

5% 95% Blue Penny Museum

6 Strategic orientations

7 Strategic orientations of the Group

Strengthen our domestic position Expand our non-bank activities Grow our international footprint

Embedding sustainability as a key value driver

Our main areas of strength and differentiation

Governance Client Technology & Human Operational Sustainable & Centricity Innovation Capital Excellence Approach Risk Management

8 Strengthen our domestic banking position

Our positioning Key strategic focus areas

• Enhancing value proposition across market segments & deepening of customer

Domestic loans and deposits > 305,000 relationships and services 40 Comprehensive branches/ registrations distribution channels • Widening the use of digital technology for simplified customer experiences Market share: >40% kiosks for ‘Juice’ • Underpinning the development of small and medium enterprises > 235,000 ~ 9,100 IB customers; Cards in circulation POS 177 ATMs market share Recent developments Terminals ~ 45% Market share: ~ 52% ~ 40% of national • Accompanying our clients to help them navigate through the Covid-19 crisis through park adapted solutions • Enriched our service offerings through the upgrading and promotion of our digital channels, further boosted with the outbreak of the Covid-19 pandemic • ‘Green’ credit program of up to Rs 1 billion annually over three years for corporate customers • Strengthening of the SMEs ecosystem through an adapted value proposition; ‘Lokal is Beautiful’ scheme and the banking app ‘Juice Pro’

Release of ‘Juice Pro’, a banking • Bolstering of our private banking and wealth management services, backed by a new app for SMEs who will be able to operating model and a refined client segmentation check their balance and last transactions and perform basic • Enhanced client interactions vis-à-vis global business entities, trusts and foundations transfers • Extension and modernisation of channel capabilities and pursuit of digital transformation

9 Expand our non-bank activities

Our positioning Key strategic focus areas

• Widening our market involvement Major player in leasing MCB Capital Markets MCB Consulting and factoring • Enriching and adapting our value proposition across segments 22 dedicated funds & services Ltd structured products • Leveraging brand franchise and distribution capacity ICPS Ltd (cards Providing business AUM: ~ Rs 33 billion outsourcing services) solutions in (~USD 800 million) operating in around 37 countries 16 countries Recent developments

Involvement in micro-finance services • Reinforced positioning of MCB Capital Markets Ltd in Mauritius and in the region in recent years

MCB Institute of Finance offering training in the banking and financial field  Diversified product offerings  Established itself as a leading finance transaction advisor and arranger in respect of corporate finance on the domestic scene

 Continued build-up of assets under management

• Enhanced relationships and customised solutions for MCB Microfinance clients while currently looking at ways to assist them to overcome the impact of Covid-19

• Finlease rebranded as ‘MCB Leasing’ with a new vision, encompassing a more customer centric The Group’s leasing arm, Finlease, MCB Capital Markets acted as sole unveiling its new logo and visual identity Transaction Advisor to Teyliom approach in October 2019 International in April 2019

10 Grow our international footprint

Our positioning Key strategic focus areas

• Energy & Commodities • Bank of Banks strategy Presence Correspondent banks ‘Bank of Banks’ initiative o Platform for providing trade finance services • Structured project finance o Provision of cards outsourcing and consulting 10 countries > 775 ~ 91 Financial Institutions • Private Banking & Wealth Management services including some 150 in Africa outside Mauritius assisted and partnered with • Enrichment of our offerings in foreign o Payment services for banking counterparts in FY 2019 (SWIFT) banking subsidiaries

Recent developments

As highlighted below, the Group continued its business expansion until the outbreak of the Covid-19 pandemic, with the loan book of the Energy and Commodity business lines and International Structured Finance, however, remaining resilient. • Increased market coverage of the Energy and Commodities business, with inroads notably made in upstream oil and gas business in Africa • Broadened and diversified our portfolio of international structured finance across Africa and beyond, spanning various sectors • Further business development by the Group’s foreign banking subsidiaries • Pursuit of business expansion by MCB Consulting Ltd in terms of new countries, clients and economic sectors • Widened footprint of ICPS Ltd in Africa and Asia; providing an end-to-end integration of its payment solutions and functionalities • Further progress made to expand private banking into Africa and beyond through reinforced networking and Overseas subsidiaries/ Countries in which relationship building MCB associates Rep. Offices MCB is involved • Increased on-the-field visibility with the opening of a new representative office in Dubai

11 Economic outlook

12 The COVID-19 outbreak has hogged headlines during the past months ...

• The authorities have deployed a number of sanitary and quarantine measures since the detection of the first case • The lockdown and curfew order imposed in the country between 20 March and 30 May have successfully curbed the spread of the virus, with no new local positive case having been recorded during the past 2 months. Currently: 5 active cases (imported) from repatriation of Mauritians abroad • Commercial flights by National carrier scheduled to resume on 1 September 2020 subject to all conditions, including opening of borders and lifting of travel restrictions, being met

Main economic relief initiatives deployed to support businesses and households

Wage support Dedicated Initiatives by scheme / Self- COVID-19 Act/ support to the Bank of employed Quarantine Act SMEs/MMEs scheme Mauritius

13 National Budget 2020-2021

14 The Budget attempts to steer the country forward in the wake of the COVID-19 pandemic

Key thrusts of the Budget, titled ‘Our New Normal: The Economy of Life’

Rolling out the ‘Investment Engaging in Major Securing Sustainable and and economic recovery plan’ Structural Reforms 3 Inclusive Development 1 2 • Waste management • Give a boost to the construction sector; • A revamped pension system • Invest in smart agriculture; • Air quality • Improving our doing business environment • Rebuild the local manufacturing fabric; • Drainage infrastructure • Opening to the world • Support the tourism industry; • Energy • Public sector transformation strategy • Consolidate the financial services sector; • Wastewater • Ensure social justice through fiscal policies • Develop the data economy; • Social housing • Solidarity levy • Diversify and deepen the blue economy value-chain • Community development • Corporate tax • Build a strong biomedical and pharmaceutical • Access to water industry; • Income exemption thresholds for the middle class • Advanced Healthcare system • Reinforce regional partnerships; and • Education • Foster entrepreneurship and protect the livelihood • Social integration and social security of SMEs.

Public Sector The PSIP reaffirms the authorities’ intention of upgrading the infrastructure set-up across areas, notably spanning road, airport, sea port and utilities, alongside Investment promoting inclusive development with sizeable investment in social housing and social protection as well as health. As per the authorities, total public Programme investment is estimated at around Rs 158 billion over the 2020/2021 to 2024/2025. For FY 2020/21, total public investment is set to amount to Rs 40 billion

Source: Ministry of Finance and Economic Development 15 Several interesting measures have been announced, although some areas warrant attention

• Some announced measures can be viewed positively as they attempt to support the economic recovery in the wake of the COVID-19 pandemic and boost

socio-economic development. These include measures to stimulate nationwide investment encourage local production, support the development of

SMEs, develop the pharmaceutical industry, enhance the blue economy value-chain and promote the use of digital practices and innovative technologies

Main areas warranting attention

Need to ensure the effective and comprehensive operationalisation of measures

Need to guard against the potentially distortionary outcomes of some policy measures

Need to uphold sound, sustainable and credible fiscal and public debt management

16 Official Medium Term Macroeconomic Framework

Selected indicators Units 2019/20 2020/21 2021/22 2022/23 Estimates as per Budget 2020-2021 Output and prices GDPmp Rs bn 467.6 452.3 486.8 526.5 Real GDP Growth Rate - market prices % -5.8 -7.0 4.5 5.0 Investment Rate % of GDP 18.6 18.9 19.7 21.2 Inflation Rate % 2.2 4.0 2.5 2.5 Public Finance Recurrent Revenue % of GDP 20.8 29.4 26.3 24.6 o/w Taxes % of GDP 19.0 20.0 22.3 22.2 Recurrent Expenditure % of GDP 30.3 29.4 26.3 24.6 Recurrent Balance % of GDP -9.5 0.0 0.0 0.0 Capital Revenue % of GDP 1.0 6.6 0.6 0.1 Capital Expenditure % of GDP 5.1 6.6 3.6 3.1 Capital Balance % of GDP -4.1 0.0 -3.0 -3.0 Total Expenditure % of GDP 35.3 36.0 29.9 27.7 Budget Balance - Surplus (+)/Deficit(-) % of GDP -13.6 0.0 -3.0 -3.0 Primary Balance % of GDP -10.7 2.8 -0.4 -0.5 Public debt Budgetary Central Government Debt % of GDP 75.0 76.0 72.7 70.1 Public Sector Debt * % of GDP 72.7 78.2 77.7 75.3 External Sector Current Account - Surplus (+)/Deficit (-) % of GDP -10.1 -12.7 -7.7 -6.9 Exports of Goods and Services 1 % of GDP 33.1 28.6 32.5 33.8 Imports of Goods and Services 1 % of GDP 51.8 47.4 45.8 45.7 Gross Official International Reserves Rs bn 270.0 231.0 239.6 248.5

Note: 1 Exports and imports of services are as per National Accounts, i.e. Bank of Mauritius figures adjusted for Financial Intermediation Services Indirectly Measured (FISIM).

* Based on the new definition as provided for in the amended Public Debt Management Act i.e. public sector gross debt minus cash and cash equivalent and equity investment held by Government and public sector bodies in private entities. This figure is not strictly comparable to debt figures for previous years which are in gross terms.

Source: Ministry of Finance and Economic Development 17 MCB forecasts

18 Main economic indicators

Unit 2016 2017 2018 2019(1) 2020(2) Real sector GVA at basic prices Rs bn 386 403 422 438 402 GDP at market prices Rs bn 435 457 481 499 457 GVA growth (at basic prices) % 3.6 3.6 3.6 3.1 -11.2 GDP growth (at market prices) % 3.8 3.8 3.8 3.0 -10.9 Gross Domestic Saving % GDP 11.0 10.0 8.9 8.8 5.5 Gross Fixed Capital Formation % GDP 17.2 17.4 18.8 20.0 17.4 Private sector investment % GDP 12.8 13.3 14.2 14.6 12.5 Public sector investment % GDP 4.4 4.1 4.5 5.4 4.9 Headline inflation Dec, % 1.0 3.7 3.2 0.5 4.3 Unemployment rate average, % 7.3 7.1 6.9 6.8 - Fiscal sector Budget balance FY, % GDP -3.5 -3.5 -3.2 -3.2 -13.6 Public sector debt Dec, % GDP 64.2 63.5 64.9 65.5 75.8* External sector Balance of visible trade Rs bn -81.0 -100.2 -112.1 -120.1 -123.1 Current account balance % GDP -4.0 -4.3 -5.8 -5.7 -14.1 Overall balance of payments % GDP 6.0 6.2 3.5 6.6 -8.0 Memorandum item: Per capita GDP USD 9,598 10,407 11,124 11,060 9,142

(1) Revised estimates (2) MCB forecasts *Based on the new definition as provided for in the amended Public Debt Management Act i.e. public sector gross debt minus cash and cash equivalent and equity investment held by Government and public sector bodies in private entities. This figure is not strictly comparable to debt figures for previous years which are in gross terms.

Sources: Statistics Mauritius, Ministry of Finance & Economic Development, Bank of Mauritius & MCB staff estimates 19 Zoom on specific metrics (i)

Economic growth (at market prices) National investment Distribution of GDP, 2019

Manufacturing 6.0 24 Wholesale & retail trade 4% 3% 12% 4.0 3% Financial and insurance activities 22 4% Accommodation and food service activities 2.0 4% Transportation and storage 20 Public administration and defence 0.0 12% 5% Real estate activities -2.0 18 Professional, scientific and technical activities 5%

Construction % of GDPof % -4.0 16 5% Education 12% % % real GDP growth -6.0 Human health and social work activities 14 5% Information and communication -8.0 Art , entertainment and recreation 6% 7% 12 -10.0 6% 6% Agriculture, forestry and fishing Administrative and support service activities -12.0 10 Others 2016 2017 2018 2019(e) 2020(f) 2016 2017 2018 2019(e) 2020(f)

(e) Revised estimates (f) MCB forecasts 20 Sources: Statistics Mauritius and MCB staff estimates Zoom on specific metrics (ii)

Current account & Overall BOP Headline inflation 2

8 6

4 5

0 4

-4

3

% % % of GDP -8 2

-12 1 -16 2016 2017 2018 2019(e) 2020(f)1 0 Current account balance Balance of Payments 2016 2017 2018 2019(e) 2020(f)

1 Excluding bilateral loans currently under negotiation 2 Headline inflation figures are as at December Public sector debt Evolution of rupee vis-à-vis main currencies 4 90 125

85 120

80 115

75 110

% of GDPof % 70 105 Index: 05 Jan 2018 = 100 2018 Jan 05 Index:

65 100

60 95

55 90

Dec 2016 Dec 2017 Dec 2018 Dec 2019(e) Dec 2020(f)3

Jul-19 Jul-18

Jan-19 Jan-18 Jan-20

Jun-18 Jun-19 Jun-20

Oct-18 Oct-19

Apr-18 Apr-20 Apr-19

Sep-18 Feb-19 Feb-18 Sep-19 Feb-20

Dec-19 Dec-18

Aug-19 Aug-18

Nov-19 Nov-18

Mar-19 Mar-18 Mar-20

May-18 May-20 3 May-19 Based on the new definition as provided for in the amended Public Debt Management Act. This figure is USD EURO not strictly comparable to debt figures for previous years which are in gross terms. 4 An increase/decrease in the index corresponds to a depreciation / appreciation in the Mauritian rupee

(e) Revised estimates (f) MCB forecasts 21 Sources: BoM, Mofed, Statistics Mauritius and MCB staff estimates EU list of high risk third-countries

22 Zoom on Mauritius’ inclusion on the EU list

The country’s inclusion on the European Commission’s list of High Risk Third Countries with deemed strategic deficiencies in their AML/CFT regimes warrants attention as it can exert adverse strains on the reputation and attractiveness of the Mauritius IFC. In the June 19th 2020 edition of the Official Journal of the European Union, the Delegated Regulation approving Article 2, i.e. the list of High-Risk Third Countries, including Mauritius was adopted. Article 2 will take effect as from October 1st 2020.

Key arguments in support of the Mauritius IFC • Mauritius, was not given an opportunity to provide any explanation or make any representation to the Commission prior to its inclusion on the list. Mauritius was furthermore neither consulted nor heard, let alone informed that a new methodology had come into effect (against Article 41 of the EU Charter of Fundamental Rights) • Furthermore, in contravention with its own procedures, the Commission replicated the findings of the Financial Action Task Force (FATF) without considering the intrinsic and fundamental differences between countries that form part of the FATF blacklist as compared to other countries like Mauritius, that are on the monitoring list. In so doing, the Commission amalgamated Mauritius with countries that are traditionally classified as blacklisted by the FATF. Main realisations • It is also worth noting that Mauritius has, in recent years, revised the fiscal regime applicable to global business companies and introduced enhanced substance requirements in adherence with international norms and standards. The Mauritian jurisdiction is now considered as being fully compliant with EU and OECD standards. Furthermore, the country has been rated compliant or largely compliant with 35 out of 40 FATF Recommendations, after having addressed 53 out of the 58 actions identified in the FATF Mutual Evaluation Report. Dedicated moves include adoption of new laws and regulations, formulation of a comprehensive National AML/CFT Strategy, development of an AML/CFT risk-based supervision framework for financial institutions. Commitments by the authorities • Additionally, the Mauritian authorities have already engaged with the EC and FATF to reiterate the country’s high-level political commitment to the effective and timely implementation of the prescribed FATF action plan by addressing the remaining 5 actions by September 2020. It can be noted that a first progress report was sent to the FATF on the agreed date, but the process has been halted due to the COVID-19 situation and the progress report could not be assessed by the FATF. • As announced in the Budget, a new AML/CFT (Miscellaneous Provisions) Bill was introduced to complement existing legislative framework. The aim is to bring further fundamental reforms in the financial services sector, thereby ensuring closer compliance with recommended international best practices and norms of the Financial Action Task Force. As per the Bill, various enactments are being amended with a view to reinforcing the existing legal provisions to further combat money laundering and the financing of terrorism, and to provide for matters related thereto.

23 Impact of COVID-19 on our business

24 MCB Group Exposures | On and off Balance sheet

As at 31 March 2020

(as atRs 31 344 Mar bn 2020)

Foreign subsidiaries Non-Banking entities Rs 15 bn, 4% Rs 4 bn, 1%

MCB Ltd Rs 325 bn, 95% o/w Non-Funded Rs 82 bn

Note: Excludes Corporate Notes 25 MCB Ltd Exposures by LoBs | On and off Balance sheet

MCB Ltd (asAs aatt 31 MarMarch 2020) 2020 Rs 325 bn Rs 325 bn

Individuals SMEs Rs 20 bn, 6% Rs 7 bn, 2% Private Banking & Wealth Management Rs 20 bn, 6%

Global Business Rs 1 bn, 0%

Financial Institutions Rs 19 bn, 6%

Corporate Rs 123 bn, 38%

Energy & Commodities Rs 101 bn, 31%

International Structured Finance Rs 34 bn, 11%

26 Energy & Commodities

As at March 2020

Rs 101 bn

Commodity Trade Finance - Unfunded 31%

Structured Debt 31% Commodity Trade Finance - Funded 30% of Structured Debt portfolio insured 38%

47,362

27 Sectorwise distribution of corporate exposures

Domestic & international corporates, structured finance & SME (non-individuals) As at 31 March 2020 Rs 164 bn

Information & Communication Rs 5 bn, 3% Others Tourism & Rs 16 bn, 10% Textile Hospitality, Manufacturing Rs 3 bn, 2% Rs 28 bn, 17% Rs 8 bn, 5%

Agriculture & Fishing Rs 9 bn, 6%

Property Development & Construction Power & Logistics Rs 28 bn, 17% Rs 14 bn, 8%

Wholesale & Retail Holding companies, Conglomerates, Rs 13 bn, 8% Financial & Insurance Rs 40 bn, 24%

28 Financial performance

29 Analysis of the nine months results to March 2020

30 Profitability Profitability

8 6.7 6.1 6 5.4 5.2 2.4 0.8 4.7 1.8 4 1.8 Rs billion Rs 1.6

5.3 2 4.3 3.1 3.4 3.6

0 9-mths to 9-mths to 9-mths to 9-mths to 9-mths to Mar 16 Mar 17 Mar 18 Mar 19 Mar 20

6 months to December Quarter to March

31 Operating income (i)

20 180

16.0 16 14.6 160 12.5 11.8

12 10.6 140 Rs Rs billion

8 120

mths to Mar Mar 16 to = mths 100 -

4 100 Index: 9 Index: 0 80 9-mths to 9-mths to 9-mths to 9-mths to 9-mths to Mar 16 Mar 17 Mar 18 Mar 19 Mar 20

Net interest income Non-interest income Net interest income Growth Index Non-interest income Growth Index

32 Operating income (ii)

17,500 +674 -301 +159 15,973 +954 +3,542 15,000 5,028 12,500 10,945 10944.90 3541.60 10,000 954.00 674.10 -301.00 5,686 5,686 7,500 159.80 15973.40

Rs million Rs 5,000

2,500 5,259 5,259

0 Operating income Net interest income Net fee and Profit from forex Net gain/(loss) on Other income Operating income 31 Dec 19 commission income dealings/Net gain on equity instruments 31 Mar 20 financial instruments *

Q1 - 3-mths to Sep 19 Q2 - 3-mths to Dec 19 Q3 - 3-mths to Mar 20

*Excludes fair value gain/(loss) on equity instruments 33 Net interest income

12 240 10.7 9.6 9 200 7.8 7.1 6.6

6 160

Rs Rs billion mths mths to Mar 16= 100

3 120 - Index: 9 Index: 0 80 9-mths to 9-mths to 9-mths to 9-mths to 9-mths to Mar 16 Mar 17 Mar 18 Mar 19 Mar 20 MUR FCY MUR Growth Index FCY Growth Index

34 Gross loans

Gross loans

300 281 225 260 144 250 126 200 218

200 179 101 175 174 71

150 67 150 Rs billion Rs 134 137 100 125 117 Jun Index:17 100 = 108 107 50 100

0 75 Jun 16 Jun 17 Jun 18 Jun 19 Mar 20

MUR FCY MUR Growth index FCY Growth index

35 Note: Figures for Gross loans include Corporate Notes. Deposits

Deposits 400 389 220

350 200 332 173 298 300 275 132 180 255 111 250 105 160 103

200 140 Rs billion Rs

150 120

216 Index:Jun 16 100= 100 187 200 100 152 170 50 80

0 60 Jun 16 Jun 17 Jun 18 Jun 19 Mar 20

MUR FCY MUR Growth Index FCY Growth Index

36 Evolution of T-Bills rate v/s savings rate

5

4

3 %

2 1.90% 1.75%

1.25% 1 0.78%

0.25%

0

Jul-18 Jul-19

Jan-19 Jan-20

Jun-19 Jun-18 Jun-20

Oct-18 Oct-19

Apr-18 Apr-19 Apr-20

Feb-19 Feb-20

Sep-18 Sep-19

Dec-18 Dec-19

Aug-18 Aug-19

Nov-18 Nov-19

Mar-19 Mar-20

May-19 May-18 May-20

Overall weighted yield MCB Savings rate

37 Note: Overall weighted yield relates to weighted average yields on Government of Mauritius Treasury Bills/Bank of Mauritius Bills from Bank of Mauritius Margin

5

4 3.59 3.41 3.32 3.47 3.33

3 % 2

1

0 Jun 16 Jun 17 Jun 18 Jun 19 Mar 20

Net interest margin to average earning assets

38 Operating expenses & efficiency

Operating expenses Cost to income ratio

8 160 60

6.0 6 5.7 140 5.2 50 4.8 4.3 % 41.0 40.8 41.3

4 120 40 38.8 37.4

Rs Rs billion mths mths to Mar 16 =100 2 100 -

30 Index:9 0 80 20 9-mths to 9-mths to 9-mths to 9-mths to 9-mths to Mar 16 Mar 17 Mar 18 Mar 19 Mar 20 9-mths to 9-mths to 9-mths to 9-mths to 9-mths to Mar 16 Mar 17 Mar 18 Mar 19 Mar 20 Operating expenses Growth Index

39 Share of profit of associates

500 462

400 342 301 301 300 249

Rs Rs million 200 Non-banking PAD Group 100 CGIC

0

-100 9-mths to 9-mths to 9-mths to 9-mths to 9-mths to Mar 16 Mar 17 Mar 18 Mar 19 Mar 20

Non-Banking Banking

40 Credit quality

Credit impairment charges NPL ratios

Credit quality 3.0 3.0 10 2.8

` 2.5 2.5 8 1.5 2.0 2.0 6.2 6.2

6

% % 1.5 1.5 4.5 4.1 4.6 4.1 Rs billion Rs 4.0 1.1 4 1.0 0.4 3.1 1.0 0.8 1.0 2.9 0.7 0.4 0.3 2.6 0.2 0.3 0.5 0.5 2 0.8 0.9 0.5 0.5 0.6 0.0 0.0 0 Mar9-mths 16 toMar 179-mthsMar to 18 9-mthsMar to 19 9-mthsMar 20to 9-mths to Jun 16 Jun 17 Jun 18 Jun 19 Mar 20 QuarterMar 16 to MarchMar 17 MarMar 16 18 Mar 17Mar 19Mar 18Mar 20Mar 19 Mar 20 6 monthsQuarter to December to March Quarter to March Additional ECL Gross NPLs to gross loans and advances Net NPLs to net loans and advances As a % of gross loans and advances6 months (right toscale) December

As a % of gross loans and advances,As excludinga % of gross additional loans and ECL advances (right scale) (right scale) 14

Note: Impairment charges for Mar 20 relate to nine months while the ratio has been annualised. 41 Liquidity

42 Evolution of loans and deposits

400 389

332 298 300 173 258 242 132 111 211 200 125 142 Rs Rs billion 100

216 100 187 200 111 117 116

0 Jun 18 Jun 19 Mar 20

Loans - MUR Loans -FCY Deposits - MUR Deposits - FCY

43 Liquidity position

Liquidity position

240 120 215

200 183 100 83 160 146 145 80 69

125 % 36

120 54 60 Rs billion Rs

50 80 40 132 109 114 92 40 75 20

0 0 Jun 16 Jun 17 Jun 18 Jun 19 Mar 20

Liquid assets - FCY Liquid assets - MUR Liquid assets to deposits ratio (right scale)

Note: Liquid assets comprise cash, balances with BoM, placements, T-Bills, Government securities and bonds. 44 Loans to deposits and funding base ratio - FCY

Liquidity - FCY

100 95.1%

81.9% 80 66.1% 65.0%

60 % 40

20

0 Jun 16 Jun 17 Jun 18 Jun 19 Mar 20

Loans to deposits ratio Loans to funding base ratio

45 Capital

46 Capital adequacy

70 68 22

60 60 20 55 50 50 18 46 17.4% 17.3%

40 16

15.8% 16.0%

% Rs Rs billion 30 14

20 12

10 10

0 8 Jun 12 JunJun 13 12 JunJunJun 1214 13 JunJunJun 1315 14 JunMarJun 14 16 15 JunMar 15 16 Mar 16 Jun 16 Jun 17 Jun 18 Jun 19 Mar 20

Tier 2 TierTier 1 2 BISTierTier ratio 2 1 (right-scale)TierBIS 1 ratio (right-scale)BISTier ratio 1 ratio (right-scale) (right-scale)Tier 1 ratio (right-scale)Tier 1 ratio (right-scale)

Note: Capital adequacy ratios are based on Basel III 47 Share price performance

48 Share price performance

130

120

110

100

90

80 Index: 31 Mar 2019 = 2019 31 100 Mar Index: 70

60

Jul-19

Jan-20

Jun-19 Jun-20

Oct-19

Apr-19 Apr-20

Feb-20

Sep-19

Dec-19

Aug-19

Nov-19

Mar-20 Mar-19

May-20 May-19

MCB Group share price index SEMDEX (rebased)

Salient features

As at June 2020 MCB Group Ltd is a constituent of the Stock MCB Group Ltd is a constituent of the Stock Exchange of 13% ~ 48% Exchange of Mauritius Sustainability Index Foreign shareholding Market share for value traded Mauritius(SEMSI*) Sustainability since its launch Index (SEMSI in September)* 2015

* The SEMSI aims at promoting sustainability, good governance and transparent business practices. It tracks the price-performance of companies listed on the Official Market or the Development & Enterprise Market which demonstrate strong sustainability practices and provides a robust measure of listed companies against a set of internationally aligned and locally relevant environmental, social and governance criteria. 49 Investor Relations Unit Kersley GASPARD – IR Officer Tel: (230) 202-5134 /(230) 202-5558 Email: [email protected] Website: www.mcbgroup.com

mcbgroup.com

50 www.mcbgroup.com Appendix

52 Key financial indicators – Income Statement

Income statement Year ended to: Nine months to: 30-Jun-18 30-Jun-19 Growth 31-Mar-19 31-Mar-20 Growth Rs m Rs m % Rs m Rs m % Net interest income 10,729 12,957 20.8 9,628 10,721 11.4 Non-interest income 6,222 7,270 16.8 5,010 5,252 4.8 Non-interest expense 6,802 7,511 10.4 5,683 5,972 5.1 Operating profit before provisions 10,149 12,716 25.3 8,955 10,001 11.7 Net impairment charges 1,330 1,597 20.1 1,077 2,817 161.6 Share of profit of associates 307 404 31.7 249 342 37.1 Income tax expense 1,885 1,930 2.4 1,375 1,398 1.7 Profit attributable to ordinary equity holders 7,221 9,482 31.3 6,713 6,091 (9.3)

53 Key financial indicators – Statement of Financial Position

Balance sheet As at As at 30-Jun-18 30-Jun-19 Growth 31-Mar-19 31-Mar-20 Growth Rs m Rs m % Rs m Rs m % Total assets 386,370 471,161 21.9 443,541 520,472 17.3 Cash & cash equivalents* 49,886 62,040 24.4 57,245 68,506 19.7 Investment securities 88,747 126,204 42.2 109,863 153,929 40.1 Net loans 204,236 234,007 14.6 228,921 247,559 8.1 Total deposits 297,719 331,500 11.3 319,086 389,347 22.0 Equity 51,306 56,254 9.6 55,232 64,646 17.0 * Includes placements

54 Financial soundness indicators

Mar-20 Mar-19 Jun-19

Profitability

Return on average total assets1 1.6 2.2 2.2

Return on average equity1 13.4 16.8 17.6

Return on average Tier 1 capital1 13.8 17.5 18.2

Efficiency

Cost-to-income 37.4 38.8 37.1

Asset quality

Gross NPL/Gross loans and advances 4.0 4.0 4.1

Net NPL/Net loans and advances 2.6 2.8 2.9

Liquidity

Liquid assets2/Total assets 41.4 38.8 38.8

Loans to deposits 66.2 74.1 72.9

Loans to deposits and borrowings 3 58.9 63.6 61.0

Capital adequacy

Shareholders equity to assets 12.4 12.5 11.9

BIS risk adjusted ratio4 17.3 17.6 17.4

o/w Tier 1 4 16.0 16.0 15.8 1 Annualised rate for March figures 2 In the computation, liquid assets comprise cash, balances with BoM, placements, T-Bills, Government securities and bonds 3 Borrowings include debt instruments 4 Based on Basel III 55 www.mcbgroup.com 56