Redemption of JSC Bank of Georgia’s US$ 100 million AT1 notes

On 22 May 2024, Bank of Georgia Group PLC’s banking business subsidiary, JSC Bank of Georgia (the “Bank”) issued a notice that it will redeem all of aggregate principal amount of the outstanding Notes equal to US$ 100,000,000 on 28 June 2024 (the “First Reset Date”). The Issuer will redeem the Notes for cash at the redemption price, being the sum of the outstanding principal amount of the Notes and an amount equal to the accrued and unpaid interest for the current interest period to (but excluding) the First Reset Date (the “Redemption Price”). There will not be any partial redemption of the Notes.

The redemption of outstanding AT1 notes highlights the Bank’s strong capital position and high levels of internal capital generation, reflecting its robust financial health.