Ameriabank at a Glance 2021 Q1 Snapshot 2021 Q1 Financial Results Strategy Highlights Appendices Investor Presentation 01 Ameriabank.am The Leading Bank in Armenia 1 1st in the market by key financial indicators since 2015, offering a window onto the whole Armenian Economy Omni channel Distribution Platform with Focus on Digital 2 92% offloading ratio* Innovator and Trend Setter Superior customer service, proven leadership by culture and 3 values, doing business responsibly and promoting ESG culture in Investment the country, first Green Bond issuer in the country. Best in class Governance Practices Best practice corporate governance and unique culture, Highlights 4 professional and experienced management team Robustness and Resilience with Significant Growth Potential Sustaining decent performance during challenging times, post- 5 pandemic accelerated growth and enhanced profitability. Attractive Macro Fundamentals Emerging economy, with proven resilience towards crises and 6 external shocks, high average economic growth, low inflation and stable exchange rate. Investor Presentation 02 Ameriabank.am * Share of transactions performed via distance and digital channels in total number of bank's transactions. The Leading Bank in Armenia 20 1,132 43 Overview The largest universal bank in Armenia, offering corporate, investment and retail banking services. 654 151 3,106 1st in the market by key financial indicators: assets, liabilities, loans, deposits, profit and equity Major contributor to Armenian banking sector development Ongoing appreciation and quality recognitions by reputable global institutions Ratings Ownership Highest possible credit ratings within current sovereign rating Structure constraints. S&P EBRD B+ Long-Term 17.74% B Assets 15.2% Short-Term negative EPS Holding LTD Outlook 11.92% Loans 17.1% SACP bb- Imast Group (CY) LTD 48.9% Liabilities 15.6% ADB Bank deposits Ba3/NP 13.93% Equity 12.5% BCA B1 Ba3(cr)/NP Afeyan foundation for Net Profit 20.2% CRA Armenia inc. Outlook negative 7.51% Ameriabank Market Share Investor Presentation 03 Ameriabank.am Ameriabank at a Glance 2021 Q1 Snapshot 2021 Q1 Financial Results Strategy Highlights Appendices Investor Presentation 04 Ameriabank.am 2021 Q1 Achievements 1st 1,010 B 1st 897 B 1st 692 B Liabilities Loans** leader per Assets 2021 Q1 results* 1st 114 B 1st 4 B Equity Profit Global Finance Names Ameriabank the Best Bank and Best Investment Bank of the year 2021 in Armenia. The offloading ratio reached 92% with online banking penetration rate at 48%. Investor Presentation 05 Ameriabank.am * all amounts are in AMD ** net of impairment allowances and including TF Ameriabank at a Glance 2021 Q1 Snapshot 2021 Q1 Financial Results Strategy Highlights Appendices Investor Presentation 06 Ameriabank.am Core Business Highlights Loan portfolio Loan portfolio breakdown • Increased share of retail and SME loans (50%) in line with the strategy to move to more universal 18% -1% Loans to banking model. 683 678 individuals 578 • 12% decrease of total deposits and bonds was due to and SME 233 234 outflow of several planned short-term large corporate 50% 178 31% 1% transactions. • Retail deposits and bonds registered 5% growth in Q1 bln AMD 400 450 444 Loans to 2021. 13% -1% corporates • The Bank is the leader in the local corporate bond 50% market with 26% market share. 2019 2020 1Q2021 Corporate loans Retail loans Corporate deposits & bonds Deposit & bonds Retail deposits & bonds 6% 5% 9% -12% 4% -30% 704 643 110% 616 342 340 105 330 306 38% 324 12% 50 8% 113 3 13 238 39 54 61 255 -3% 246 82 7% 88 3% 8% 15 254 -8% 0% 159 bln AMD 173 159 bln AMD 95 bln AMD 4% -1% -29% 245 241 -47% 338 352 19% 8% 249 129 93 111 120 2019 2020 1Q2021 2019 2020 1Q2021 2019 2020 1Q2021 Demand deposits Time deposits Bonds in local market Demand deposits Time deposits Bonds in local market Demand deposits Time deposits Bonds in local market Investor Presentation 07 Ameriabank.am Assets & Liabilities Structure Assets Liabilities and equity Highlights 13% -7% . 7% and 9% decrease in total assets and liabilities 13% -7% in 1Q2021 is due to outflow of several planned 1,091 short-term large corporate transactions. 968 1,011 110 • Diversified balance-sheet structure with interest 101 114 earning assets to total assets at 80% and 1,091 8% 4% customer funds to total liabilities ratio at 69%. 968 1,011 bln AMD 867 981 897 • Maintaining exceptional sectorial diversification bln AMD of loan portfolio, with balanced exposure to all -9% 13% industries. 2019 2020 1Q2021 2019 2020 1Q2021 TOTAL LIABILITIES EQUITY Loan portfolio structure by sector Structure of assets Structure of liabilities 4% 1% Wholesale trade 6% 4% 6% Finance and investment 3% Mining/Metallurgy 6% 2% Cash and cash Hotel service equivalent Demand deposits Construction 22% 5% Securities Agriculture, forestry and timber 17% 13% 2% Time deposits Food and beverage 7% 4% Retail trade Loans from IFIs Interbank loans Power generation 7% 4% and REPO Bonds 5% Real estate 28% Communication services Loans to Subordinated debt 6% customers Manufacturing 69% 28% Transportation Other liabilities 29% Other assets 6% Other 1% 15% Loans to retail customers Investor Presentation 08 Ameriabank.am Corporate & Retail Banking Corporate loans Trade finance and Leasing Retail loans 72% 3% -1% 13% 31% 233 1% 234 450 444 37 39 400 178 96 103 80 -2% 78 78 24% 6% 13 14 9% 22 73 37 121% 10% 36 3% 34% 6 11 11 27 bln AMD bln 354 bln AMD bln AMD bln 322 10% -4% 341 6% 0% 117 120 11 2% 154% 13 0% 13 78 49% 5 2019 2020 1Q2021 2019 2020 1Q2021 2019 2020 1Q2021 Large loans SME loans (Medium business) Balance sheet LC Factoring Finance lease Mortgages Retail business loans Consumer loans Highlights • Corporate loans slightly decreased in Q1 2021 while SME loans increased by 6%, which is in line with the strategy to move to more universal banking model. b • Trade Finance and Leasing portfolio recorded 3% growth due to significant AMD 444b AMD 234 increase in leasing portfolio in Q1 2021. corporate loans retail loans • Retail loan portfolio recorded 1% growth, with slight decrease only in consumer loans. Investor Presentation 09 Ameriabank.am Loan Portfolio Quality NPL (Stage 3) Coverage ratio (Stage 3) Highlights • NPL ratio improved by 0.1pp. Previous YoY increase of 81% 80% 79% risk indicators was because of proactive and conservative approach and extra provisioning 4.2% 4.1% considering COVID-19 related uncertainty and possible negative impact. 2.9% • In Q1 2021 cost of credit risk shows reversion to its historical mean. 2019 2020 1Q2021 2019 2020 1Q2021 Cost of credit risk 4.1% 1.7% NPL Cost of credit risk 2.8% 1.7% 1.3% 80% Coverage ratio 2019 2020 1Q2021 Investor Presentation 10 Ameriabank.am Capital Highlights Tier 1 Ratio Risk Weighted Assets 924,297 920,160 12.0% 12.0% • CBA decreased Tier 1 CAR threshold from 10% to 9%. 11.5% 759,973 • Additionally, Tier 2 limit was increased from 20% to 30% of Tier 1 capital. • CBA has circulated draft amendment to harmonize regulatory requirements with that of Basel III. Subject changes may result in further easing of capital adequacy. 2019 2020 1Q2021 2019 2020 1Q2021 Capital Adequacy Ratios 14.7% 14.1% 13.6% 14.1% CAR 2019 2020 1Q2021 Investor Presentation 11 Ameriabank.am Funding & Liquidity Sub-debts Attracted funds Highlights • The bank attracted USD 10M equivalent new 16% 15% 33% -56% subordinated debt in Q1 2021. 212 • Sub-debt portfolio decreased by 56%: USD 50M of 184 sub-debt was fully per CBA regulations 16 159 and was no longer included in Tier 2 capital 15 calculations. 13 18% 5% 48 bln bln AMD 195 169 146 36 16% 16% bln AMD 21 2019 2020 1Q2021 2019 2020 1Q2021 Loans from IFIs Loans from CBA* Loans to deposits and borrowings ratio LCR (Liquidity Coverage Ratio) NSFR (Net Stable Funding Ratio) 178.3% 167.3% 84% 77% 131.6% 147.5% 72% 133.3% 115.6% 2019 2020 1Q2021 2019 2020 1Q2021 2019 2020 1Q2021 Investor Presentation 12 Ameriabank.am * Loans from State owned funds to support Armenia private sector (MSME) channeled through banking system. Income Interest income 12% 13% 9% 0% 15% 25% Highlights 18.1 16.1 • Net interest income registered YoY increase of 25%, 14.4 mainly due to significantly higher interest income, which is a result of loan book growth and increased 10.4 share of Retail and SME loans in total portfolio. 8.3 7.8 7.7 7.2 7.1 • Net interest margin increased by 0.4pp comprising bln AMD 5.3% mainly due to optimization of funding costs and increased share of Retail and SME loans in total portfolio. Interest income Interest expense Net interest income • Net non interest income increased by 40% YoY 1Q2019 1Q2020 1Q2021 mainly due to higher income from commissions, fees and derivatives gains. Non interest income 1% 26% 80% 8% -27% 40% NIM (Net Interest Margin) 3.5 2.7 2.8 2.0 2.1 5.3% 1.5 1.3 1.4 bln AMD 4.9% 4.9% 0.7 Non interest income Non interest expense Net non interest income 2019 2020 1Q2021 1Q2019 1Q2020 1Q2021 Investor Presentation 13 Ameriabank.am Efficiency & Profitability Net profit Highlights • Net profit increased by 33% YoY due to higher net -4% 33% interest and net non interest incomes. CIR (Cost to Income ratio ) • Significant increase of net profit resulted in the improvement of the key performance ratios such as ROA and ROE which recorded 0.6pp and 5.7pp increase respectively. 4.0 42.0% bln AMD 3.1 3.0 36.0% 35.1% 1Q2019 1Q2020 1Q2021 2019 2020 1Q2021 ROA (Return on Assets ) ROE (Return on Equity ) 14.2% 12.8% 8.5% 1.5% 1.5% 0.9% 2019 2020 1Q2021 2019 2020 1Q2021 Investor Presentation 14 Ameriabank.am Ameriabank