Sample presentation for purchasing of stock shares of Joint-Stock Bank “TURON BANK” for strategic foreign investors

Realization of shares Joint-Stock Commercial Bank "TURON BANK“ for foreign investors 63,15% - state share29,9 mln. US dollars

Reviews by International Institutions WORLD ECONOMIC FORUM ► Uzbekistan is in Top 5 Fastest Growing Economies in the World M OODY ’ S CORPORATION STANDARD & POOR’S FitchRatings ► Uzbekistan's banking system outlook remains stable Top 3 in the world for law enforcement & security -4 The. World r * Justice Project GALLUP 4aAbay str. Tashkent, Uzbekistan, Tel.: ( ) , Fax: (371)

Banking system of Uzbekistan.Urgench Samarkand Gulistan Uzbekistan has traditional two level banking system, headed by the Central Bank of the Republic of Uzbekistan and commercial banks. Main functions and objectives of the Central Bank are defined in the Law on Central Bank, issued in December At present, the CB is fulfilling functions of central monetary- lending institution. As of today, Uzbekistan's banking system has 26 commercial banks, which include 3 state banks, 11 joint- stock commercial banks, 5 commercial banks with a share of foreign capital, and 7 private banks.

Macroeconomic Stability: Sustainable Banking and Financial System 35 % 30 % 25 % 20% 15 % 10 % 5%5% 0% Average annual growth rates of main banking indicators during % 28 % 31 % Capital Assets Loans Credit portfolio of commercial Banks (min. USD) ( 46 %) 1378 ( 54 %) Domestic sources Foreign debt

JOINT-STOCK COMMERCIAL BANK "TU RON BANK" Year of establishment: November 6,1990. As of Decemer 31, 2015 № SALES NETWORK Total 1Branch Offices17 2Mini - Banks27 3Operational cash offices61 4Money Transfer Offices28 5Employees1 076

SHAREHOLDERS OF THE BANK 7,07% 8,16% 1, 02 % 1, 20 % 1,41% 1,82% 3,52% 4,06% 4,48% 63,15% _ The state committee of the Republic of Uzbekistan ® for privatization, demonopolization and development of competition ■ LLC "ZIKOS INVEST" ■ JV LLC "RUGGED STEEL" | Specialised association "Uzsuvenergo” ■ LLC "PROSPERITY INVESTMENT" ■ LLC "PRIME INDUSTRIES GROUP" The state joint-stock insurance company «Uzagrosugurta» LLC"USUB" Other legal entities Individuals The state share in the amount of 63.1% (29,9 min. USD) in the authorized capital of the joint-stock commercial bank'Turonbank" offered to strategic foreign investors.

Key Financial Indicators of JSC Turonbank (in min. USD) Indicators December 31,2014 December 31,2015 Changes (%) Assets243,9252,43,5 Capital25,532,728,2 Charter capital20,117,8-11* Loan portfolio163,9154,9-5,5* Net profit7,35,7-21,9 * Exchange rate as of December 31, is 1 USD = 2 422,40 UZS (2014), 1 USD = 2 809,98 UZS (2015).

Key Financial Ratios of JSC Turonbank as of December 31, 2015 Indicatorsln% Market position (in 26 Banks) Minimum requirements of CB of UZB (%) ROA2,3% 6 - ROE32,3%4 - Liquidity Ratio37% - 30 Capital Adequacy Ratio 13,9% - 10

Loan Portfolio as of December 31, 2015 Loans and Leases by the Sectors of the Economy Loans and leases by the types of clients ■ Small and medium enterprises Individuals ■ Corporate clients ■ Others 9,5% ■ Housing and utility services ■ Industry ■ Agriculture ■ Transport and communications ■ Construction ■ Trade and public catering Procurement and marketing ■ Other sectors

CLIENT BASE Small and medium enterprises; В Trade; В Agriculture; В Construction and Industry; В Others; 21, 0 % □ Individual clients _3,5% ■ Corporate clients

MAIN CORPORATE CLIENTS Specialised association «Uzsuvenergo» (Founded in 1995, subdivision of Ministry of Agriculture and Water Resources of the Republic of Uzbekistan) JSC «Uzsuvloyiha» (organizing spend design and survey works in agriculture sector) LLC «UZGIP» (Project Institution) JSC «OhangaronCement» (manufacturing of cement) JSC «QuvasoyCement» (manufacturing of cement) LLC «Tupalangsuv GES Kurilish» Unitary company «Rezaksoy Suv Qurilish» FC LLC «Nokia Solutions and Networks Tashkent» FC LLC «ZTE-INVESTMENT» (a globally-leading provider of telecommunications equipment and network solutions) JV LLC «Peng Sheng» (manufacturing tiles, mobile phones, shoes) FC LLC «Nature Cotton» (manufacturing of yarn) JV LLC «BL Lazeroptika» JV LLC «Elektron Xisoblagich»

The Bank has established correspondent relations with 75 Banks all over the world and open correspondent accounts with such Banks as: Bank of China (China) Agriculture bank of China Korea Exchange Bank (Korea) JSC “Sberbank” (Savingsbank) (Russia) JSC “VTB Bank” (Russia) JSC “Russlavbank” (Russia) JSC “Promsvyazbank” (Russia) Asia-lnvestbank (Russia)

Advantages for "Strategic Investors" of acquisition of State shares of JSC Turonbank Rights to vote and control over the activity one of the stable growing bank in Uzbekistan (63,15% shares). Expanding business network one of the fast developing country in Central Asia with a population over 30 million and legal entities over 250 thousand. Cooperation of “Strategic Investor” with I FI like IFC or ADB makes the bank the best not only in Uzbekistan but in Central Asia. International Agreements for the Avoidance of Double Taxation has been signed with the Republic of Korea.

Liquidation of red tape in work of foreign investors and prevent illegal infringement of controlling and state bodies to activities of the enterprises with foreign investments (The Decree of the President of Uzbekistan #UP-4434, dd ). New privileges and incentives: V The decree has banned and said it is illegal to set additional requirements and limitations to the activities of foreign investors and enterprises with foreign capital by ministries and departments, state bodies in regions, law enforcement and controlling bodies; V The prosecutors entrusted to control over adherence of the state and controlling bodies of current laws on protecting rights and guarantees of foreign enterprises, companies with foreign investors and adopt measures to prevent violations by the state bodies;

The Cabinet of Ministers of the Republic of Uzbekistan was entrusted to provide access to foreign investors to economic information, including on the State budget and its execution, monetary-credit policy, indexes of foreign trade and other information, which are necessary to their investment activities; Government Support; Good conditions to earn maximum profit. Until January 1,2020 freed up from income tax, revenues of foreign investors earned in the form of dividends on shares held by them in joint stock companies. (The Decree of the President of Uzbekistan #UP-2454, dd ).

BUSINESS PARTNERS Turonbank is a member of the following associations, funds and international organizations: The Uzbekistan Banks Association; Guarantee Fund of Deposits of the Population of the Republic of Uzbekistan; The Republican Interbank Foreign Currency Exchange; The Republican Stock Exchange “Tashkent”; Trade and Industry Chamber of the RUz; The International System of Electronic Payments “SWIFT” (Since 2004); The International System of Payments Visa International (Since 2009); The information-dealing system “THOMSON REUTERS” (Since 2007); Systems of international money transfers and money transfer systems for the CIS countries VISA if: THOMSON REUTERS MoneyGram International Money Transfer WESTERNII INION I I ^Золотая Корона

Rating Scores of JSC Turonbank 2011 I 2012 I 2013 I 2014 I 2015 B-/C Stable STAND ARD &POOR'S

PROGRESS WIDELY RECOGNIZED BY LEADING AGENCIES, INTERNATIONAL ORGANIZATIONS AND MEMBERSHIPS: The Golden Award for Quality & Business Prestige 2015 (Geneva) O THER W AYS * MANAGEMENTS CONSULTING The Thomson Reuters awarded Turonbank in nomination the most active bank is recognized as the best for 2013; JiltS Щу THOMSON REUTERS The Bank became the winner in "Best Mobile Banking 2014" award "Global Finance" (USA). Involved and implemented credit lines International Fund for Agricultural Development (IFAD). IFAD INTERNATIONA L FUND FOR AGRICULTURAL DEVELOPMENT Д The Bank became the winner in the "Bank of the Year 2013" award financial magazine The Banker (UK). Involved credit lines of IDA, IBRD and grants of Global Ecological Fund (World Bank Group) THE WORLD BANK

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