1. Joint-Stock Commercial Mortgage Bank ”IPOTEKA BANK”

2. General Information 38branches 116mini banks 515retail service offices 80international money transfer points 33exchange offices Clients: 78,7 ths. 1 673 ths. legal entities and entrepreneurs individuals Ratings: B+/B/stableStandard and Poor’s B2/B2/stableMoody’s JSCMB “IPOTEKA BANK" 2

3. Corporate Governance Structure General Meeting of Shareholders External Audit Management Board Supervisory Board Supervisory Board affirms Revision Commission selects reports Audit Committee appoints Human Resources Commission Human Resources Commission appoints selects recommendations, reports Risk Management Committee appoints recommendations, reports Department of Internal Audit Department of Risk Management reports recommendations, reports 3 JSCMB “IPOTEKA BANK"

4. The List of Shareholders Structure of Shareholders (as of 1 st August 2015, in %) Direct share of the State: The Ministry of Finance of the Republic of Uzbekistan The State Committee of the Republic of Uzbekistan for Privatization, Demonopolization and Development of Competition 25,02 23,65 1,37 «UzGazOil» Ltd.25,00 JSC «UzTransGaz»5,80 JSC «Uzmetkombinat»5,64 JSC «AMMC»4,90 JSC «Uzbekistan Railways»4,74 UC «Chinobod Neft Bazasi»4,40 The Department for Investments of Tashkent city municipality3,57 JSIC «Uzagrosugurta»3,20 JSC «Uzbekenergo»3,05 JSIC «Kafolat»1,50 SIC «Uzbekinvest Hayot»1,09 Other less than 1 %: Individuals Corporate entities 12,09 5,41 6,68 4 JSCMB “IPOTEKA BANK"

5. Supervisory Board First Name, NamePosition Date of Appointment to the Board The Chairman of the Board Batir Hodjaev The First Deputy Minister of Economy of the Republic of Uzbekistan 2013 Ahadbek Haydarov Deputy Chairman of the Central Bank of the Republic of Uzbekistan 2013 Ayubhon Kamalov Head of the Unit for coordination of the state shares in the banks’ capital, Ministry of Finance of the Republic of Uzbekistan 2010 Akromjon Abduhamidov Chief of Department of the Center for management of state assets, The State Committee of the Republic of Uzbekistan for Privatization, Demonopolization and Development of Competition 2014 Botirjon TurayevHead of «UzGazOil» Ltd.2012 Yulchi ShakirovFirst deputy Head of «UzGazOil» Ltd.2012 Larisa ZubrilovaChief Accountant of «UzGazOil» Ltd. 2012 Giyosiddin NajmiddinovHead of legal department of «UzGazOil» Ltd.2014 The independent Board member Igor Butikov Director of Center for Research of Problems of Corporate Governance and the Securities Market 2011 5 JSCMB “IPOTEKA BANK"

6. Growth Dynamics in 2012-2014 (in bill.UZS) 55% 26% 44% 45% 66% 21% 32% 2%2% 11% 6 JSCMB “IPOTEKA BANK"

7. Market Position * Source: The Analytical Report of the Uzbekistan’s Rating Agency «Ahbor-Rating» 7 JSCMB “IPOTEKA BANK"

8. The main Market Positions 2010 2011 201220132014 Total Assets 6=6 4=45 Loan Portfolio 6 5=5=5=5 Investment Portfolio 4 7=765 Employees 5 4=4=4=4 Customer deposits 6= 6 5=5=5 Deposits of Individuals 9 7 6=65 Share Capital 7 8 7=7=7 Branches 7=7=7=7=7 Place among commercial banks of Uzbekistan 8 JSCMB “IPOTEKA BANK" * Source: The Analytical Report of the Uzbekistan’s Rating Agency «Ahbor-Rating»

9. Correspondent Banks Limits of outstanding amounts at the correspondent accounts Limits to conversional operations in mill.USDIn mill.of national currencies in mill.USD or equivalents JP Morgan, New York60 Commerzbank AG, Frankfurt on Main152530 HypoVereinsbank (UniCredit Group), Munich 11 Landesbank Berlin AG, Berlin 11 The Bank of Tokyo-Mitsubishi UFJ Ltd, Tokyo 1100 Raiffeisen Bank International AG, Vienna 3015 Promsvyazbank, Moscow 0,22 Asia Invest Bank, Moscow 84008 ZAO Raiffeisenbank, Moscow 1 National Bank of Uzbekistan, Tashkent 20 5 Asaka Bank, Tashkent 20 5 Uzsanoatqurilishbank, Tashkent 10 9 JSCMB “IPOTEKA BANK"

10. Financial Results (In thousands of Uzbekistan Soums, IFRS) 201220132014 Total Assets2 328 8602 931 9163 262 348 Loan Portfolio1 304 5271 894 9612 493 570 Total Liabilities2 161 4372 731 5793 012 570 Total Equity167 423200 337249 778 Interest income 128 100172 263232 686 Interest expense (52 150)(73 388)(102 989) Net interest income 75 95098 875129 697 Provision for impairment of loans (1 472)(5 087)(27) Fee and commission income 98 909125 259143 043 Fee and commission expense (14 130)(18 729)(22 872) Administrative and other operating expenses(144 091)(171 826)(205 722) Profit before tax40 66545 56164 195 Income tax expense(5 126)(5 164)(11 434) Total comprehensive income for the year 35 55139 33651 122 10 JSCMB “IPOTEKA BANK"

11. Growth of income and expenses 11 JSCMB “IPOTEKA BANK"

12. Key figures31.12.201231.12.201331.12.2014 Total Loan Portfolio (in mill. of UZS) 1 321 6221 927 8832 521 157 Average weighted interest rate (in %) 10,26%10,19%9,94% Average weighted term (in months) 51,2453,4954,04 Total provisions / Total loans (in %) 1,39%1,15%0,71% Impaired loans / Total Loans (in %) 3,38%2,72%2,98% Loan Portfolio: general information 12 JSCMB “IPOTEKA BANK"

13. Diversification of Loan Portfolio by Collateral Collateral Type31.12.201231.12.201331.12.2014 Guaranties810 63561,34%1 092 25656,66%1 243 34349,32% Real estate373 10728,23%547 43728,40%790 74131,36% Transport vehicles110 0008,32%186 2759,66%245 7779,75% Equipment and materials9 0540,69%95 9794,98%173 4616,88% Cash and cash equivalents16 4621,24%4 4650,23%67 1572,66% Unsecured2 3640,18%1 4700,08%0,6740,03% Total 1 321 622100%1 927 882100%2 521 157100% (in mill. UZS) 13 JSCMB “IPOTEKA BANK"

14. JSCMB Ipoteka bank attracted the following lines of financing, which are directed to the realization of important projects: Line funding ICD amounting to 10 million US dollars for the production of building materials Credit line of Landesbank Berlin AG (Germany) in the amount of 50 million Euros to finance small business projects The credit line of Commerzbank AG (Germany) in the amount of 100 million Euros to finance small business projects The credit line of Commerzbank AG (Germany) in the amount of 28 million Euros to finance projects AMMC Line of IDA financing in the amount of 2 million US dollars for the cultivation and processing of fruits and vegetables Line of IFAD financing in the amount of 500 thousand US dollars for the cultivation and processing of fruits and vegetables in Surkhandarya region 14 JSCMB “IPOTEKA BANK"

15. The “Khandiza” mine enriching factory has crushing, flotation, thickening and filtration sections that prepare copper, zinc and lead concentrates. The concentrates are processed in factory’s melting plant and finished products such as copper, zinc and precious metals are prepared from them. JSCMB “IPOTEKA BANK" 15 «Khandiza» mine field enriching factory is located in Sariosiyo district of Surhandarya region and has capacity for processing of 650 thousand tons of ore per year. The plant started its operation in 2010 year. The project cost is 154,3 million USD. The amount of the received bank loan is 100,9 million USD. 922 new job places were created.

16. Angren Pipe Plant is located in a special industrial zone. It was commissioned in December 2013. Cost: 35.5 million USD Bank loan: 25.2 million USD Production capacity: 8 thousand tons of different size copper pipes. As a result of the commissioning of the plant 110 new job places were created and 250 people were provided with jobs. JSCMB “IPOTEKA BANK" 16

17. Jizzakh regional cement plant was commissioned in March 2014. The cost of the plant is 120,3 million USD. The bank provided loan in the amount of 74,2 million USD. The production capacity of the plant is 350 thousand tons of white cement or 760 thousand tons of portland cement. As a result of the project 430 people were employed. The technological part of the plant was constructed by “DAL Teknik” Turkish company on “turn key” basis. JSCMB “IPOTEKA BANK" 17

18. Projects financed at the account of ICD’s funds On November 3rd, 2013 an Agreement was signed between JSCMB “IPOTEKA BANK” and ICD (Islamic Corporation for the Development of the Private Sector) in the amount 10 million USD. The funds of ICD have been fully disbursed (the disbursement was started on January 2014, and completed on December 2014). As a result, 19 projects were financed with funds of ICD and 154 new jobs were created. The following projects in the field of production of construction materials have been selected for financing: - production of non-metallic materials - 8 projects for the total amount of 4.7 million USD; - production of metal goods - 4 projects for the total amount of 1.9 million USD; - production of coating materials (majolica) - 2 projects for the total amount of 930.4 thousand USD; - production of other construction materials - 5 projects for the total amount of 2.4 million USD. JSCMB “IPOTEKA BANK" 18

19. Funding Sources 19 JSCMB “IPOTEKA BANK"

20. Capital Ratios RWA and Capital ratios (in mill. UZS) 201220132014 Risk weighted assets1 446 0172 037 8042 482 793 Tier 1 capital136 910204 637255 422 Tier 2 capital35 55124 34617 079 Total capital172 461228 983272 501 Tier 1 capital ratio (min. 4%)9,47%10,04%10,29% Total capital ratio (min. 8%)11,93%11,24%10,98% 20 JSCMB “IPOTEKA BANK"

21. Dividend policy Dividend per share (in UZS) Nominal price of 1 share (in UZS) 26,8%26,8% 31,3% 31,5% 51,5% 56,3%56,3% 51,8% 26,5% 21 JSCMB “IPOTEKA BANK"

22. Dividends paid to shareholders from 2010 to 2014 №Year results Dividends paid (income, in %) Notes Ordinary sharesPreference shares TotalBreakdownTotalBreakdown 1201040 4 61 25 In form of cash 36 In form of capitalization 2201130 5 50 25 In form of cash 25 In form of capitalization 3201231,5 5 51,5 25 In form of cash 26,5 In form of capitalization 4201331,3 0 56,3 25 In form of cash 31,3 In form of capitalization 5201426,826,8 0 51,8 25 In form of cash 26,8 In form of capitalization JSCMB “IPOTEKA BANK" 22

23. Expected financial results in 2015 1,2 х 3,2 trill.UZS 2014 2015 Above 3,9 trill.UZS Total assets > 1,6 х 249,8 bill.UZS 2014 2015 To 395 bill.UZS Total Equity Loan Portfolio > 1,2 х 2,5 trill.UZS 2014 2015 Above 3 trill.UZS Customer accounts > 1,2 х 1,9 trill.UZS 2014 2015 Above 2,2 trill.UZS 23 JSCMB “IPOTEKA BANK"

24. The main financial ratios until 2016 Net Profit Growth Financial Ratios ROE Cost Income Ratio CAR ≥ 25% per year 2015-2016 2014 22% ≥ 20% 2015-2016 2014 20,5% ≤ 70% 75% 2015-2016 2014 ≥ 12% 10,9%10,9% 2015-20162014 Market shares Total Assets ≥ 8% 6,6% Mortgage Loans ~ 10% 8,9% Retail Services ≥ 12% 9,6% 24 * Source: «Ahbor-Rating» JSCMB “IPOTEKA BANK"

25. Thank you for your attention! JSCMB “IPOTEKA BANK"