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 Rwanda 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 Loans 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 Kigali areas measured by the World Bank Doing Business Index. Today, Rwandan Franc (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%, financial services 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: National Bank of Rwanda 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 loan 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 Crane Bank 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.