BK Group Plc Investor Presentation Q1 2021

Page 1 Agenda

1. Key Investment Highlights

2. Country Overview Information

3. Banking Sector Overview

4. Bank 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 13.0 Million; Sound Macro Robust economic growth averaging 6.2% pa in the last 5 years Fundamentals Moderate urban inflation with rate of 2.0% as at March 31st, 2021; 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 45.8% as at December 31st, 2020.

Strong Market positioning & sustainable leadership; Total assets FRw 1,388.0 billion, 30.8% market share as at March 31st, 2021; Market Net FRw 897.7billion, 36.2% market share as at March 31st, 2021; AA+/A1+ Credit Rating Leadership Customer Deposits FRw 843.4 billion, 30.1% market share as at March 31st, 2021; Shareholders’ Equity FRw 264.9 billion, 34.8% market share as at March 31st, 2021;

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 8.0% of gross loans as at March 31st, 2021; strong capital position, its systemic Business Liquid assets holding of 41.8% (minimum requirement 20%) at March 31st, 2021; importance, strong asset quality and Model financial performance. Liquidity Coverage Ratio stood at 241% (minimum requirement 100%) as at March 31st, 2021

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 16.8% (2016 - 2020); FRw 1,388.0 billion as at March 31st, 2021; Growth ROAA ranging from 3.3% - 3.9% between 2016 and Q1 2021.

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 13.0 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) 979.28 FRw = 1 US$ as Currency at March 31st, 2021 entrepreneurs can register a new business online in 6 hours. Credit Rating B+/B S&P Global Ratings August 2020 Rwanda maintains its position as East Africa’s most competitive economy Nominal GDP 2020 US $10.3 Bn and second in Africa by Global Competitiveness Index Report 2019/2020. Nominal GDP Per Capita 2020 US $812 Rwanda has championed the establishment of the Single Africa Nominal GDP 2021P US $10.5 Bn Air Transport. To this effect, the construction Nominal GDP Per Capita 2021P US $808 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 - 2020 -3.4% meeting industry network - ranked Rwanda as the 2nd most popular destination for international conferences and events on the continent. Real GDP Growth rate - 2021P 5.0%

Urban Inflation Rate - March 2021 2.0%

Private Sector Growth - 2019 27.0%

Private Sector Credit % GDP - 2020 21.8%

Gross Debt / GDP - 2021P 70.4%

Currency Depreciation against USD - March 31st, 2021 -0.7%

Foreign Reserves June 2020 6.3 Months of Imports

Source: BNR, IMF, EIU, Renaissance Capital Report

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: NISR, Renaissance Capital Report

Page6 6 Macroeconomic Indicators

GDP Breakdown By Economic Activity 2020 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 7%, public administration 6%, 3% 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: Renaissance Capital, BNR, IMF, EIU, Word Bank

Page7 7 Review of the Macro Economic Environment

Macro Economic Review 2020 Inflationary Environment

In 2020, GDP at current market prices was estimated to be Frw 9.746 billion, up from Frw 9.315 billion in 2019. Services sector contributed 46% of GDP, Agriculture sector contributed 26% of the GDP, Industry sector contributed 19% of GDP while 8% was attributed to adjustment for taxes less subsidies on products.

In 2020, estimates calculated in 2017 prices show that GDP decreased 3.4% compared to 2019. This reflects the ongoing public health catastrophe of covid19.

The Agriculture Sector increased by 1% and contributed 0.2% age points to the overall GDP drop.

Activities in the Industry sector decreased by 4% and negatively Exchange Rate Developments contributed 0.8% age points to the GDP drop.

The Service sector decreased by 6% and negatively contributed 2.6% age points to the GDP drop.

In 2020, private final consumption expenditure was 76% of the GDP while government final consumption expenditure was 16%.

Gross capital formation was estimated at 25% of GDP.

In this year, imports of goods and services decreased by 3% at constant 2017 prices; exports of goods and services decreased by 9%.

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$) Rwanda’s economy is moving away from being cash-based through the various initiatives undertaken by financial institutions including the untapped opportunities within the agency banking model and mobile money transfer services. The overall gender gap in financial inclusion among men and women of Rwanda has decreased from 4% in 2016 to 1% in 2020; representing to 93% male and 92% women,

Source: Finscope Rwanda 2020

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 urban inflation rate stood at 2.0%, while the FRw depreciation against the USD stood at -0.7 %.

Banking assets registered annual growth rate of 4.5% to FRw 4,502 trillion in March 2021 from FRw 4,310 trillion in December, 2020.

Profitability indicators in March 2021 stood at 2.4% and 14.5% for Return on assets (ROA) and return on equity (ROE) Respectively from 2.0% and 12.0% respectively, in the same period in 2020.

The asset quality of the industry is generally improving; non-performing ratio (NPL ratio) stood at 6.6% as at March 2021, compared to 5% in the same period in 2020. The Insurance Sector registered a growth rate of 3.6%from FRw 591.7 billion in December 2020 to FRw 612.8 billion in March 2021. 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 2020 Q1 2021

Bank of Kigali Market Share by Total Assets 26.3% 26.8% 27.1% 28.4% 29.3% 30.3% 30.8%

* Market share among banking sector

12Page 12 Market Share Dynamics

Market Share for Banking Sector Bank of Kigali vs. Banking Sector Growth, CAGR 2016 - Q1 2021

Selected Indicators Q1 2021 Market Share for Commercial Banks

Source: BNR

13Page 13 Strong Market Leadership - FY 2020

44.2% 36.6% 35.7% 1 45.6%

11.7% 10.7% 11.20 9.6% 2 %

11.4% 9.9% 10.7% 3 9.5%

9.6% 4 9.7% 9.7% 9.3%

8.2% 5 7.6% 7.7% 6.3%

6 7.8% 6.5% 6.4% 5.9%

2.4% 7 4.8% 5.9% 4.5%

2.5% 8 4.1% 5.4% 3.8%

9 3.2% 1.7% 4.0% 3.1%

2.7% 10 1.6% 1.8% 2.1%

11 1.6% 1.5% 1.6% 1.5%

Source: FY 2020 Published Results

14Page 14 BANK OVERVIEW

15Page 15 Background and History

16Page 16 A Snapshot of Bank of Kigali

Key Facts CAGR** 2016 - Q1 BK Group Plc is a holding company with 4 subsidiaries: Bank of Kigali Plc, BK US$ million 2016 2017 2018 2019 2020 Q1 2021 2021 General Insurance, BK TecHouse and BK Capital Ltd. The Group has 1,254 FRw/USD Period End rate 807.0 854.0 892.0 921.5 977.9 987.5 Total Assets 791.0 851.5 983.6 1,105.9 1,333.5 1,405.5 16.8% employees. Its largest subsidiary, Bank of Kigali Plc, is the leading bank in Rwanda Net Loans 478.1 552.3 636.9 735.8 870.4 909.1 18.4% st by Total Assets with 30.8% market share as at March 31 , 2021. It offers a wide Client Deposits 519.2 533.0 596.4 697.4 808.7 854.1 15.0% spectrum of commercial banking services to Corporate, SME and Retail customers. Shareholders' Equity 134.4 143.7 218.3 239.6 265.2 264.9 19.5% As at March 31st, 2021 the Bank had: Net Income 25.7 27.3 30.7 40.5 39.3 40.5 26,155 Corporate clients *Annualised **CAGR figures are calculated on FRw Values 356,958 Retail clients 68 Branches Market Share - Banking Sector 2016 2017 2018 2019 2020 Q1 2021 Total Assets 26.8% 27.1% 28.4% 29.3% 30.3% 30.8% 96 ATMs and 2,895 POS Net Loans 27.5% 29.9% 31.9% 34.0% 35.7% 36.2% 2,589 Agents Client Deposits 27.4% 26.4% 27.1% 29.3% 29.9% 30.1% Western Union, Money Gram services for International Transfers Shareholders' Equity 24.6% 26.8% 37.9% 35.6% 36.3% 34.8% 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 , 2021 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 of BK Group Plc is composed of five directors; 3 non-executive and Independent directors, 2 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

March 31st, 2021 Analyst Coverage Current price, FRw 233 Recommendation: BUY Market Cap, US$ mln 215.2 Target Price: FRw 394 Common shares outstanding, mln shares 904.5 Last coverage report: November 2020 12-month high 260 12-month low 225 Recommendation: BUY Target Price: FRw 300 P/E 2020 (based on current price) 4.7x Last coverage report: December 2020 P/BV 2020 (based on current price) 0.8x Dividend yield, 2019 (based on current price) 6.1% Recommendation: HOLD EPS Q1 2021 49.3 Target Price: FRw 309 Ticker Code BOK Last coverage report: August 2020 Bloomberg BOK Recommendation: BUY FRw/USD Exchange Rate of 979.28 at March 31st, 2021 (BNR Middle Rate) Target Price: FRw 332 Last coverage report: April 6th, 2021 *Capital gains on RSE transactions are exempted from Capital Gains Tax

Book Value/Share Earning Per Share (FRw)

Page 20 20 Share Price Performance FRw - Rwanda

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

21Page 21 Share Price Performance KeS - Kenya

Page 22 22 BUSINESS OVERVIEW

23Page 23 Overview of the Loan Book

Gross Loan Portfolio Corporate Loan Book Q1 2021

Total Loan Book Q1 2021 Maturity Profile

24Page 24 Overview of Deposit Structure

Total Deposits Growth Funding Structure: FRw 1,388.0 Bn

Total Liabilities: FRw 1,123.1 Bn Customer Deposits Concentration Q1 2021 Maturity Profile

25Page 25 Corporate Banking

Description Corporate Loans: FRw 877.4 Bn Corporate Deposits: FRw 612.5 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.

26Page 26 Executing The Retail Strategy

27Page 27 Retail Banking

Description Retail Loans: FRw 107.6 Retail Deposits: FRw 231.0 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 BKQuick loans (Mobile loans) were 4.2% of Retail loans Strategy: Build sufficient channel capacity to be able to service 1,000,000+ clients in 2022 Through BKQUICK, a mobile solution towards savings and small loans, Retail Client Accounts the Bank has been able to tap into the retail market competitively thus 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

28Page 28 Growing Our Distribution Network

Ubiquitous footprint Agency Banking

Agency Banking platform BK Yacu began operating in November 2012. Expanded the agency banking network to 2,589 operational agents as at March 31st, 2021. Agents are able to perform cash in and cash out transactions, open customer accounts as well as send and receive money.

29Page 29 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 95,000 Visa cards and 84,000 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;

30Page 30 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 can 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 have a fin-tech 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 262,000 farmers and over minimal hustle by the Agro dealer. 1,800 registered agents as at March 31st, 2021; Both farmers and agro-dealers will build transaction Post covid-19 crisis, the campaign will resume to history that will improve their credit worthiness significantly increase the number of field agents A benefit of free P2P for all customer (increased proximity) and to close the gap on activated Farmers incentive of weekly promotion of 1M RWF for a accounts. period of 30 weeks A benefit of free P2P for all customers Access to stock loans for eligible Agro dealers

Page 31 31 REVIEW OF FINANCIAL PERFORMANCE

32Page 32 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

33Page 33 Asset Quality

Cost of Risk % Improving Coverage Ratio

NPLs by segment Manageable NPLs Ratio

34Page 34 Income Statement Highlights

Total Operating Income Total Recurring Operating Costs Net Profit

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

35Page 35 Competitive Landscape - Rwanda

Source: BK Q1 2021 financials & FY 2020 published financials from other commercial banks

36Page 36 Competitive Landscape - Kenya

3.6%

3.2%

Source: BK Q1 2021 financials & FY 2020 published financials from other commercial banks

37Page 37 STRATEGIC OUTLOOK

38Page 38 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 2022 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

39Page 39 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

40Page 40 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 41 41 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

. Identify Target Markets Theme . 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

42Page 42 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

43Page 43 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

44Page 44 Management Targets

Outlook 2021 Q1 2021 Loan Growth 10% - 15% 5.5% Deposit Growth 15% - 20% 6.7%

Net interest Margin 10.5% - 11% 10.8% Non Funded Income 25% - 30% 18.0% Cost to Income Ratio 35% - 40% 29.2%

Return on Equity 18% - 20% 17.0% Return on Assets 3.5% - 4.0% 3.3%

Cost of Risk < 3.5% 4.7% NPLs ≤ 8% 8.0%

45Page 45 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 46 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 Rwanda Stock Exchange.

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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