30-June-2020

INVESTOR PRESENTATION Content

Ameriabank at a Glance

2020 Q2 Snapshot

2020 Q2 Financial Results

Strategy Highlights

Appendices

1 The Leading in Armenia

Overview

Assets 14.8% The largest in Armenia, offering corporate, investment and services. Loans 15.8% 1st in the market by key financial indicators: assets, liabilities and equity Liabilities 15.3% Major contributor to Armenian banking sector development

Ongoing appreciation and quality recognitions by reputable global Equity 11.9% institutions Net Profit Highest possible credit ratings within current sovereign rating constraints. 11.3%

Ameriabank Market Share

Ratings Ownership structure S&P Long-term B+ EBRD 17.76% Short-term B Outlook stable ESPS SACP bb- 19 1083 45 Imast Group Holding Ltd Branches Employees Terminals (CY) Ltd* 11.83% Moody's 48.95% Bank Deposits (LC) Ba3/NP ADB Bank Deposits (FC) B1/NP 13.94% BCA ba3 Afeyan Foundation 146 2847 515 CRA Ba3(cr)/NP for Armenia Inc. ATMs POS Virtual POS 7.53% Outlook stable Terminals Terminals * Ameria Group (CY) Ltd was renamed to Imast Group (CY) Ltd 2 Investment Highlights

The Leading Bank in Armenia

1st in the market by key financial Omni channel indicators since Distribution Stable and 2015 resilient emerging Platform with economy, with Focus on Digital high GDP growth, 88% offloading low inflation and ratio stable exchange rates Attractive Macro Superior customer Fundamentals service, proven Best practice corporate governance leadership not only by system and principles, professional financials but also by and experienced management culture and values team Innovator and Strong Team and Trend Setter Corporate Culture

3 Content

Ameriabank at a Glance

2020 Q2 Snapshot

2020 Q2 Financial Results

Strategy Highlights

Appendices

4 2020 Q2 Achievements

Assets of AMD 885 B 1st

Liabilities of AMD 780 B 2nd

a leader Loans* of AMD 597 B 2nd per 2020 Q2 results Equity of AMD 106 B 1st

Profit of AMD 4.6 B 3rd

S&P re-affirms Ameriabank’s ‘B+’ Rating with Stable Outlook.

Moody's re-affirmed Ameriabank’s Ba3 long-term local currency deposit rating with a stable outlook. The offloading ratio reached 88% with online banking penetration rate of 43%.

Board renewal with three new Independent NEDs joining the Board – Kaha Kiknavelidze, Richard Ogdon and Tigran Davtyan; replacing Resigning Board members – Ruben Vardanyan, Noubar Afeyan and Pierre Gurdjian. 5 * net of impairment allowances and including TF COVID-19 in Armenia

First registered case of COVID-19 in Armenia on March 1. State of Emergency declared on March 16, with almost total lockdown and closure of all non-essential business. Gradual lift of restrictions starting from May 1, with almost all business activities restored as of June 1, with the exception of the services that imply large gatherings (cinema, theatre, museums, schools, etc). Public transport and public kindergartens now fully operational with certain restrictions and strict control. Stricter social distancing and limitations rules enforced starting from May 18, as COVID-19 registered cases started to surge after mid May. COVID-19 cases reached the peak in the end of June with slow down of infection rates starting from July.

Government Response Central Bank of Armenia Response • The Government has presented its anti-crisis • The refinancing rate was cut by 50 bps reaching program that will be not only supporting both 4.5%. businesses and households to survive the crises, • Basel III related additional buffers requirements but will also ensure competitiveness of the post- are postponed till 2021 and thresholds for the crises economy. CAR are reduced (Tier 1 threshold reduced from • The first anti-crises package has been introduced 10% to 9%). for AMD 150bn+ (2.3% of GDP) which includes • Basel III related liquidity requirements - LCR & nine support to business programs, mostly to NSFR, are postponed till Jan 1, 2021 too. SMEs and companies from the sectors that are hit harder, and thirteen social support and • are offered an unlimited repo window and allowance programs. 2 to 6 month FX swap operations. Ameriabank COVID-19 Response

Within it comprehensive Business Continuity Plan (BCP) Ameriabank took a number of steps and pre-cautionary actions in order to ensure safety of both employees and clients, continuity of operations and mitigate operational and financial risks. We follow strict social distancing rules within the team and when interacting with clients, with physical split of working desks, only online meetings and certain rules of conduct in the office. 70% of non-client facing staff and 40% of client facing staff have been working remotely from home since March. We implement bi-weekly shifts for the teams that cannot shift fully to remote work. Considering the expected impact on our borrowers, we have granted grace period on principal and interest payments to all retail clients and to those corporate clients who operate in the hardest hit sectors (HORECA, transportation, etc.) We have tightened risk parameters, have been working on cost-cutting and are keeping excessive liquidity and capital adequacy buffers to secure our resilience in the currently unfolding situation. Content

Ameriabank at a Glance

2020 Q2 Snapshot

2020 Q2 Financial Results

Strategy Highlights

Appendices

8 Core Business

HIGHLIGHTS Loan portfolio Loan portfolio breakdown . Increased share of retail and SME loans 6.5% 1.1% Loans to (51%) in line with the Bank’s strategy to individuals move to more universal banking 578 584 and SME model. The latter also explains 15% 543 51% growth of Retail lending with slightly 120 178 205 decreasing corporate loan book. 48% 15% . 44% increase as of Q4 2019 and 15% bln AMD bln Loans to decrease in 2Q2020 of total deposits 422 -5% -5% 400 379 corporates and bonds portfolio is mainly due 49% seasonality. Time deposit portfolio of both Corporate and Retail slightly 2018 2019 2Q2020 increased despite COVID-19 economic Corporate loans Retail loans impact. . Leading the local corporate bond market with 23% market share.

Deposit & bonds Corporate deposits & bonds Retail deposits & bonds

44% -15% 69% -33% 26% 3% 330 643 306 317 3 50 547 82 244 39 43.0 445 60.2 221 255 195 46 8 36 3 259 83 173 176

191 33% 1% 57 43% 1% 29% 2%

bln AMD bln AMD bln

bln AMD bln 134 245 63% -33% 82% -47% 27% 4% 338 228 134 130 208 74 93 97

2018 2019 2Q2020 2018 2019 2Q2020 2018 2019 2Q2020 Demand deposits Time deposits Bonds in local market Demand deposits Time deposits Bonds in local market Demand deposits Time deposits Bonds in local market 9 Asset and Liabilities Structure

Assets Liabilities and equity HIGHLIGHTS . 10% YoY decrease in liabilities is -9% 24% -9% 24% due to seasonal outflow of some corporate accounts. 968 885 780 101 . Diversified balance-sheet structure 968 106 with 79% interest earning assets to 885 90 780 total assets and 70% customer

13% 4% funds to total liabilities. bln AMD bln bln AMD bln 867 780 690 26% -10% . Maintaining exceptional sectorial diversification of loan portfolio, with balanced exposure to all 2018 2019 2Q2020 2018 2019 2Q2020 industries. TOTAL LIABILITIES EQUITY

Loan portfolio structure by sector Structure of assets Structure of liabilities Real estate Loans from Loans from Power 4% Communication Cash and IFIs Government generation Retail trade services Other cash 20% 2% 5% 6% 1% assets equivalent Bonds Manufacturing Food and 4% 17% 8% beverage 1% Securities Transportation Time Subordinated 6% 7% 6% deposits debt 5% Agriculture, Other 33% forestry and 2% Other timber Interbank liabilities 3% loans and 2% Construction REPO Deposits and 6% balances Loans to retail Loans to 5% Demand Hotel service from banks customers customers deposits 6% 29% 1% 30% 67% Mining/Metallurgy 5% Finance and Wholesale investment trade 1% 18% 10 Corporate and Retail Banking

HIGHLIGHTS Corporate loans Trade finance and Leasing . Retail loan portfolio registered robust growth of 15% YoY, with -5% -5% 2% 17% 422 growth registered by all retail loan 400 379 25 products. 76 22 78 21 90 . Trade Finance and Leasing portfolio 2.3 8.2 5.9 recorded 17% growth with 157% 38%

10.7 significant growth in all product bln AMD bln bln AMD bln 347 11.3 2% 322 16% 289 0% 10.7 6% portfolios. -7% -10% 8 -39% 17% 5 6 . Large loans portfolio decreased by 10% YtD mainly due to limitations 2018 2019 2Q2020 2018 2019 2Q2020 Large loans SME loans ( Medium business) Balance sheet LC Factoring Finance lease on large corporate lending, in line with the Bank’s strategy to move to more universal banking model, while SME loans portfolio grew by Retail loans 16%

48% 15%

205 178 74.9 120 27% 72.8 3% 32.0 bln AMD bln 57.5 51% 26.8 19% AMD 379b 17.8 98.6 75% 78.4 26% corporate loans 44.8

2018 2019 2Q2020 Mortgages Retail business loans Consumer loans AMD 205b retail loans 11 Loan Portfolio Quality

HIGHLIGHTS Coverage ratio (Stage 3) NPL (Stage 3) . NPL ratio and Cost of credit risk increased by 1.3pp and 0.6pp 4.2% 86% respectively, mainly due to 81% additional provisioning in some 3.3% loan buckets, considering COVID- 2.9% 19 related uncertainty and possible 49% negative impact.

2018 2019 2Q2020 2018 2019 2Q2020

Cost of credit risk

1.9% 1.7% 4.2% 1.3% NPL 1.9% Cost of credit risk 2018 2019 2Q2020 49% Coverage ratio 12 Capital

HIGHLIGHTS Risk Weighted Assets Tier 1 Ratio . CBA has encouraged to utilize 12.0% 814,589 Basel III buffers (1%) to support lending. 11.4% 759,973 . CBA has postponed Basel III related additional buffers implementation 10.8% 694,651 and decreased Tier 1 CAR threshold from 10% to 9%.

. Additionally, Tier 2 limit was increased from 20% to 30% of Tier 2018 2019 2Q2020 2018 2019 2Q2020 1 capital.

Capital Adequacy Ratios

14.7%

13.7% 13.4%

2018 2019 2Q2020 13.4% CAR

13 Funding and Liquidity

HIGHLIGHTS Attracted funds Sub-debts . The bank attracted more than USD 30M new funds from IFIs in 2020. -2% 7% -28% 0%

169 . Sub-debts remained flat in 163 159 2Q2020, however the CBA 14.3 7.1 13.1 increased Tier 2 to Tier 1 limit from 20% to 30% which gives more 50 room for sub-debt attractions.

85% 10% AMD bln bln AMD bln 155 146 155 36 37 -6% 6%

2018 2019 2Q2020 2018 2019 2Q2020 Loans from IFIs State Stimulus funds channeled via CBA *

Loans to deposits and borrowings ratio LCR (Liquidity Coverage Ratio) NSFR (Net Stable Funding Ratio)

178.3% 143.3% 86% 81% 125.4% 72% 144.2% 147.5% 130.7%

2018 2019 2Q2020 2018 2019 2Q2020 2018 2019 2Q2020

14 * Loans from State owned funds to support Armenia private sector (MSME) channeled through banking system. Income

HIGHLIGHTS Interest income . Net interest income increased by 8% YoY, mainly due to 16% 8% 12% 8% 21% 8% significantly higher interest 31.8 income, which is a result of 29.4 increased share of Retail and 25.3 SME loans in total portfolio.

14.6 15.7 14.9 16.1 13.0 12.3 . Net interest margin decreased bln AMD bln by 0.2pp comprising 4.6% mainly due to credit vacations granted to customers and additional liquidity buffers amid Interest income Interest expense Net interest income COVID-19. 2Q2018 2Q2019 2Q2020 . Net non interest income remained stable in 2Q2020.

Non interest income NIM (Net Interest Margin)

-5% 2% 35% 12% -19% -4%

5.9 5.6 5.7 4.8% 4.8% 4.3 4.6% 3.5 3.4 2.3

bln AMD bln 2.1 1.6

Non interest income Non interest expense Net non interest income 2018 2019 2Q2020 2Q2018 2Q2019 2Q2020 15 Efficiency and Profitability

Net profit CIR (Cost to Income ratio ) HIGHLIGHTS . Net profit decreased by 18% YoY -6% -18% mainly due to additional provisioning costs amid COVID-19 to tackle possible negative impact. Net Profit before provisioning totaled AMD 9.5B recording 15.5% 42.0% YoY growth. 5.9 bln AMD bln 5.6 40.4% 4.6 38.2% . The latter also affected key performance ratios such as ROA and ROE which recorded 0.5pp and 2Q2018 2Q2019 2Q2020 2018 2019 2Q2020 4.0pp decrease respectively.

. The bank managed to generate higher operating profit, combining with YoY lower admin expense, which resulted in CIR ratio ROA (Return on Assets ) ROE (Return on Equity ) improvement by 1.6pp.

12.6% 12.8% 8.8% 1.5% 1.5%

1.0%

2018 2019 2Q2020 2018 2019 2Q2020

16 Content

Ameriabank at a Glance

2020 Q2 Snapshot

2020 Q2 Financial Results

Strategy Highlights

Appendices

17 Strategic Objectives

Enhanced Absolute efficiency and Leadership service quality position in Armenia Drivers00

Strong and resilient track record of growth and profitability Digital Diversification transformation

18 Mid-term Targets

Mid-term Actual target performance

ROE > 15% 8.8%

CIR < 40% 40%

Loan Book double Growth* digit 6.3%

Retail + SME Share > 40% 51%

Retail + SME > 15% Growth* 35.5%

NPL < 5% 4.2%

*YoY growth rates 19 Omni channel Distribution Platform with Focus on Digital

Omni-channel distribution platform, with enhanced distance banking capabilities 94% yoy 172% yoy Internet Banking Users Internet Banking Transactions 0.5% 11.9% Branches

59.9% Internet banking 27.7% Self service channels 33% yoy 27% yoy Payment Terminal Transactions vPOS Transactions Other

Online banking penetration rate Offloading ratio*

43% 34% 88% 24% 82% 77%

2018 2019 2020H1 2018 2019 2020H1 20 * Share of transactions performed via distance and digital channels in total number of bank's transactions. Omni channel Distribution Platform with Focus on Digital

Fully automated scoring based Fully automated scoring based online loans implemented for online loans implemented for consumer loans SME loans

of of 89% which 52% 68% which 24%

Share of SME scoring loans in Share of scoring based loans in Share of web based Share of web based total number of business loans total number of consumer loans scoring loans SME scoring loans ≤ AMD 10 mn

of of 66% which 40% 56% which 43%

Share of scoring loans in total Share of web based Share of SME scoring loans in Share of web based volume of consumer loans based scoring loans total volume of business loans SME scoring loans ≤ AMD 10 mn

* Data are for the first half of 2020 21 Innovator and Trend Setter

Best customer Online market Doing business experience and high platforms/ecosystems responsibly and giving satisfaction scores back to community

current progress

֏124mn allocated in 2019 launching ecosystems for CSR purposes NPS – 72% cultural and educational . car market projects, children’s health . CEI* – 9.5 mortgage market care programs, community . SME ecosystem development programs

mid term targets

Following and ecosystems market implementing best NPS ≥ 70% penetration rate practice international ESG standards CEI ≥ 9.3 ≥ 50% Green bonds issuance

22 * Client Experience Index with max possible value of 10 Content

Ameriabank at a Glance

2020 Q2 Snapshot

2020 Q2 Financial Results

Strategy Highlights

Appendices: External Environment

23 Armenia: country overview

General High average GDP growth and low inflation 2013-2020, 1st half GDP: 13.7 bln (2019, current $) GDP per capita: 4,615 (2019, current $) 5.8% 7.5% 7.6% 5.2% Average real GDP growth (2013-2019):4.4% 3.6% 3.7% 3.3% 2.5% 1.4% 0.5% Moody’s: Ba3 (stable) 3.0% 3.2% 0.2% Fitch: BB- (negative) 1.0% -1.4% -5.7%

Well Diversified Economy 2013 2014 2015 2016 2017 2018 2019 1H2020 GDP real growth, % Inflation, 12m YoY GDP Structure by production*

Most Stable Currency in the Region 21.3% 18.5% (regional currencies vs USD FX rate dynamics)** 320 300 11.9% 5.8% 280 260 6.4% 240 11.3% 220 6.6% 200 7.3% 10.7% 180 160 Industry Agriculture, hunting, forestry and fishing 140 Wholesale and retail trade 120 Taxes on products (minus subsidies) 100 Real estate activities 80 Arts, entertainment and recreation Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Financial and insurance activities Construction AMD RUB KZT AZN GEL TRY Other * *daily rate changes with 2014 January as basis. 24 *most recent 4 quarters, as of Q2 2020 Source: Bloomberg Armenia macro indicators

AMD/USD (daily average) AMD/EUR (daily average) AMD/RUB (daily average) HIGHLIGHTS

484.1 483.4 583.8 8.1 . EAI (GDP proxy) for the first six 482.1 7.4 7.0 546.9 532.5 months comprised -4.7% amid COVID-19 related State of 0.4% -0.1% -6.3% -2.6% -8.8% -5.7% Emergency.

Jan - Jun Jan - Jun Jan - Jun Jan - Jun Jan - Jun Jan - Jun Jan - Jun Jan - Jun Jan - Jun . 12-month cumulative CPI 2018 2019 2020 2018 2019 2020 2018 2019 2020 comprised 0.5% (Jun-20) vs 2.0% YoY CPI. Import and export Current account (BOP)* . Armenian dram slightly (0.2%) appreciated vs US dollar over 6m -0.19 -0.20 2.31 1.18 2.32 1.17 2.03 1.11 2020. Exchange rate fluctuations

-0.23 USD bln have been within 1-2% range

bln USD bln -0.92 -1.13 -1.15 during the last 5 years. Jan - June Jan - June Jan - June 2020 1Q2018 1Q2019 1Q2020 2018 2019 . Current account deficit slightly Import Export Net export improved in the first half of 2020 vs the same period of previous year. International Reserves Remittances** . International reserves increased by 19% YoY. 13% 11% 19% 2.65 -22%

1.99 2.22 623 705 546 mln USD mln bln USD bln . Remittances dropped by 22% YoY as of May vs 13% increase a year 30-Jun-2018 30-Jun-2019 30-Jun-2020† Jan - May Jan - May Jan - May 2020 earlier – largely driven by overall 2018 2019 economic situation in the world amid Covid-19 crisis . CPI (12m) Economic Activity Index (IEA 12m) 102.4 102.0 108.7 106.4 100.5 95.3

Jun-2018 Jun-2019 Jun-2020 June-2018 June-2019 June-2020

Source: Statistical Committee of Armenia, *Updated information is not available yet. †Data are preliminary. The CBA closing entries are not included. Central Bank of Armenia **Remittances include total commercial and non-commercial transfers of physical persons through the banking system. 25 Armenian Banking Sector Highlights

Top 5 banks by assets (AMD B) HIGHLIGHTS . A competitive market, with top five 5,996 banks representing 56% and 60.6% of the total banking system assets and loans respectively. . The top three banks account for 14.8% 14.4% 13.4% 7.6% 5.9% 43% of the total assets and 46% of the total loans.

885 863 806 . The banking system total assets and 454 353 loans increased by 4.2% and 6.4% respectively in the first half of 2020. Banking System

Top 5 banks by loans* (AMD B)

3,771

16.0% 15.8% 14.5% 8.4% 5.9%

602 597 548 316 223

Banking System

26 *net of impairment allowances Content

Ameriabank at a Glance

2020 Q2 Snapshot

2020 Q2 Financial Results

Strategy Highlights

Appendices: Historic Milestones

27 Our road to success

From advisory to banking

USD 30mln equity investment by EBRD.* 1st bank acquisition USD 50mln sub debt st deal in RA : acquired 1 banking merger from IFC.* shares of one of the deal in RA : Ameria Advisory st oldest yet smallest Ameriabank and 1 published was founded by banks in RA Cascade bank signed international credit local and Diaspora merger deal. rating (B+ rating with investors Stable Outlook by Fitch)

1998 2000-2007 2007 2008 - 2009 2010 2011 - 2014 2015 2017 - 2019

Ameria became a Became the leading rebranded to Absolute leader in RA by GROUP of companies bank in RA. Ameriabank. key financial indicators with expanded business USD 30mln equity lines: Legal and Tax Strategic decision to Unprecedented investment by ADB in early Advisory, Business become a universal growth amid global 2018** Advisory, Investment bank, significantly crisis Banking, Asset increasing Retail Ba3 rating with stable Management Banking share outlook by Moody’s B+ rating with stable outlook by S&P

* The largest deal with a FI in Armenia ** the first equity investment of ADB in Armenia 28 Our Shareholders

2007-2013 2015 2016 2018 2020

AmeriaGroup (CY) Ltd, ESPS Holding Limited Afeyan Foundation for with prominent EBRD became the has been established ADB made its first equity Armenia Inc. has investment banker Ruben first international for holding shares of investment in Republic become shareholder of Vardanyan and venture institution to Ameriabank’s of Armenia, joining Ameriabank cjsc in the capitalist Noubar Afeyan become a management team Ameriabank’s result of redemption of as main beneficiaries, shareholder with vested by the shareholders with Noubar Afeyan's shares became the 100% investment of USD Employee Share another USD 30 mn in Ameria Group (CY) shareholder of 30 mn Ownership Plan. investment Ameriabank CJSC Ltd.

EBRD 17.76% EBRD 17.8% ESPS Imast Group Holding Ltd Ameria Group Ameria Group EBRD Ameria Group EBRD Ameria Group (CY) Ltd * 11.83% (CY) Ltd 100% (CY) Ltd 20.7 (CY) Ltd 20.7 (CY) Ltd 48.95% 79.3% % 65.8% % 56.5% ESPS ADB Holding 13.94% Ltd ESPS ADB 11.7% Afeyan Foundation Holding 14.0% for Armenia Inc. Ltd 7.53% 13.5%

* Ameria Group (CY) Ltd was renamed to Imast Group (CY) Ltd 29 Recognition and honors for achievements

2019, 2018, 2017, 2016, 2014, 2012, 2011

2017, 2016, 2015, 2014, 2019, 2017, 2016, 2013 , 2012 2015, 2013, 2010 Best Bank in Armenia Numerous awards and recognitions from global institutions, agencies and IFIs in trade finance, , capital markets and custody services.

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

30 Content

Ameriabank at a Glance

2020 Q2 Snapshot

2020 Q2 Financial Results

Strategy Highlights

Appendices: Corporate Governance

31 Strong Team and Corporate Culture

Best practice corporate governance system and principles

Most experienced and internationally accomplished board members in the market

32 Our Board of Directors

Andrew Lindsay M. Philip Robert von Richard P. Kaհa Tigran Mkrtchyan Forbes Lynch Rekowsky Ogdon Kiknavelidze Davtyan Non-executive Non-executive Non-executive Chairman of the Non-executive Non-executive Non-executive Independent Board Independent Board Independent Board Independent Board Independent Board Board Board Member Member Member Member Member Member Over 20 years of Over 35 years of Over 30 years of Around 30 years More than 30 More than 25 About 30 years of experience in experience in experience in of experience in years of years of experience experience in the investment and commercial and finance, including global asset experience in the in commercial and financial system, management investment more than 20 management, financial sector, investment with senior advisory by banking, including years with Lehman specialized in with senior banking, has been executive standing at the more than 20 Brothers in senior emerging positions in a long time NED positions at the roots of investment years with positions. Was CEO markets funds, a investment banks, and later CEO of commercial banking European Bank of of Middle East, former vice- asset Bank of Georgia banks, of which establishment in Reconstruction Asia Pacific and president at management and Group, the leading more than 8 years Armenia, board and Development Africa business at Emerging advisory financial institution as CEO. Held member in a (EBRD). Before Nomura, is Markets Strategy companies (UBS in Georgia. Held senior positions at number of joining EBRD, Mr. currently the and portfolio Warburg, Uralsib executive and top the Central Bank private/public Forbes spent 13 founding partner manager for and other Fis), managerial of Armenia and organizations. years with the of Stem Capital Fidelity serves as the CEO positions at UBS, Eurasian British Linen Bank, Partners - an Investments. of TRDATA Rioni Capital and Economic the Investment independent direct software other FIs. Commission Bank subsidiary of investment company. Bank of Scotland. company.

33 Our Management Board

Arman Artak Hanesyan Gevorg Tarumyan Gagik Sahakyan Armine Andranik Gohar Barseghyan Ghazaryan Barseghyan Khachatryan

CEO, Chairman of the Deputy CEO, CFO CIB Director Retail Banking Chief People and Risk Management Chief Management Board Director Services Officer Director Accountant

A distinguished Over 25 years of Around 10 years of A proven career Around 20 years of Around 25 years of Around 30 years banker with more experience in the experience in track of more experience in the experience in of experience in than 25 years of banking system of corporate banking than 20 years in banking sector of financial accounting experience in the Armenia, including and around 15 years retail banking, of Armenia, of which institutions’ risk holding key banking system of around 20 years of experience in which around 15 around 15 years in management and positions both at Armenia. Has been experience serving management years at HSBC human resources automation the Central Bank the CEO of as CFO both in advisory. Starting his bank Armenia. management technologies. Mr. of Armenia and Ameriabank since local banks and career at Ameria Mr. Barseghyan (HRM). Mrs. Barseghyan has private banks, of 2008. Before that global banks and leading Ameria joined Ghazaryan had been heading which more than Mr. Hanesyan held represented in advisory services he Ameriabank as been heading Ameriabank’s Risk 10 years as the key positions in the Armenia. Has later moved to Retail Banking Ameriabank’s HRM Management chief accountant banking sector of been the CFO of corporate banking Director in 2012. unit since 2008, Center since 2009. of Ameriabank. Armenia, including Ameriabank since and has been prior to becoming positions of CEO 2012. heading the CPSO in 2019. and deputy CEO. business line since 2010.

34 Content

Ameriabank at a Glance

2020 Q2 Snapshot

2020 Q2 Financial Results

Strategy Highlights

Appendices: Financial Performance Details

35 Balance sheet

thous AMD

ITEMS 2Q2020 2019

Cash and cash equivalents 146,477,925 248,217,495 Financial instruments at fair value through profit or loss 8,095,695 8,255,606 Available-for-sale financial assets 8,278,450 10,848,985 Money market short-term disbursements 47,753,020 50,564,199 Loans and advances to customers* 597,247,962 585,741,899 Held-to-maturity investments 45,850,587 33,510,890 Property, equipment and intangible assets 21,715,729 22,397,513 Other assets 9,973,692 8,544,630 Total assets 885,393,060 968,081,217 Financial liabilities at fair value through profit or loss 466,653 35,314 Liabilities to banks 50,851,499 34,488,813 Current accounts and deposits from customers 486,628,433 593,223,433 Other borrowed funds 123,235,156 126,685,607 Sub-debt 36,673,602 36,495,281 Other liabilities 81,787,759 75,925,691 Total liabilities 779,643,102 866,854,139 Share capital and premium 54,452,244 54,356,760 Revaluation Reserve 504,310 650,042 Retained earnings 50,793,404 46,220,276 Equity 105,749,958 101,227,078

*net of impairment allowances 36 Profit & loss

thous AMD

ITEMS 2Q2020 2Q2019

Net interest income 16,114,415 14,844,489

Net fee and commission income 1,606,219 1,635,174 Net profit/loss from trading operations 2,515,973 2,299,356 Other operating income (expenses) (742,228) (423,567)

Operating income 19,494,379 18,355,452 Impairment losses (6,041,934) (3,352,891) Personnel expenses (4,653,195) (4,811,045) Total administrative expenses (3,220,327) (3,161,813)

Profit/ (loss) before tax 5,578,923 7,029,703 Profit tax (1,005,795) (1,460,063)

Net profit/ (loss) 4,573,128 5,569,639

37 CBA prudential standards

CBA ITEMS 2018 2019 2Q2020 Violations requirement Minimum statutory fund (in '000 AMD) 37,300,480 37,347,200 37,386,880 50,000 No violation Minimum total capital (in '000 AMD) 97,770,976 115,150,056 112,926,360 30,000,000 No violation S12_Total capital to risk weighted assets 13.7% 14.7% 13.4% 12% No violation S21_High liquid assets / Total assets 21.9% 27.9% 29.3% 15% No violation S211_High liquid assets of first group of currency / Total assets of first group of 11.4% 18.2% 22.6% 4% No violation currency S22_High liquid assets/ Demand liabilities 78.8% 94.5% 112.1% 60% No violation S221_ High liquid assets of first group of currency / Demand liabilities of first 41.5% 63.2% 103.4% 10% No violation group of currency S31_Maximum risk on a single borrower 14.6% 13.7% 15.0% 20% No violation S32_Maximum risk on large-scale borrowers 280.9% 211.7% 238.9% 500% No violation S41_Maximum risk on bank related person 2.7% 1.2% 1.2% 5% No violation S42_Maximum risk on all bank related persons 9.6% 6.3% 7.6% 20% No violation Minimum requirement for obligatory reserves allocated with RA CBA: 2% AMD X X X No violation 18% Currency Maximum risk of currency position / Total capital of the bank 0.0% 0.1% 0.3% 10% No violation

Maximum risk of separate currency positions / Total capital of the bank: -1.29% -2.51% 0.24% USD -0.49% -1.07% -1.78% EUR 7% No violation -0.02% 0.04% 0.00% RUB X X X other

38 FX exposure

Currency structure of loan portfolio Currency structure of deposits EUR 17% EUR 13% Other 2%

USD 50% AMD USD 31% AMD 54% 33%

Currency structure of corporate loans Currency structure of retail loans Currency structure of trade finance EUR USD 22% 21% EUR 5% USD 46% EUR AMD 36% 12%

USD 66%

AMD AMD 74% 18%

39 Income Structure

Interest income structure Interest expense structure Due to customers 60% Loans and Securities advances to 8% customers Money 90% market 2% Other 0% Due to IFI 27%

Due to Other CBA/banks 5% 8%

Non Interest Income structure Net fee and commission income structure Account FX income service 38% 27%

Fee and commission maintenance 44% income Guarantee 41% Fines and and LCs penalties 12% 8% Derivatives Money Other 3% transfers 10% 17%

40 P&L Structure

Profit & loss Net profit margin 34%

EBT margin 41% - - - 2.18 0.84 - - -

bln AMD bln 4.80 7.07 0.46- - 14.31 1.10 - 12.13 13.47 13.47 1.52 - 1.01- 8.66 8.20 7.10 5.07 5.07 5.58 5.58 4.57 4.57 - - - - OP OP OP OP Other Total HR Mark & Admin Dep & EBT Taxes NET CB RB TD IB OP PR exp amor PROFIT

Admin expenses Structure of admin expenses Rent 3% Depreciation 16% -1% 19% Marketing, Rep. costs and CSR 6%

Maintenance, communication and utility cost 8.0 7.9 bln AMD bln 4%

6.9 Other Personnel 9% expenses and 2Q2018 2Q2019 2Q2020 Trainings 59%

41 Disclaimer

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42 Shushanik Hovsepyan Head of Investor Relations E-mail: [email protected] Tel: + 374 10 561111 Web: www.ameriabank.am/ir Address: 2 V. Sargsyan street, Yerevan, 0010, RA