Directors’ Remuneration Report continued Percentage change in remuneration of CEO As the Company listed during 2018, there is no disclosure of remuneration relating to prior years. Accordingly, this report does not set out the percentage change in remuneration as there is no prior year comparator which can be shown. Details of fixed and discretionary contingent deferred share remuneration granted during 2018 Mr Kiknavelidze was granted 35,000 nil-cost options (deferred share salary) and 33,500 nil-cost options (discretionary deferred shares remuneration) over BGEO Group PLC shares in respect of 2017 work year. Single total figure of remuneration for Non-Executive Directors (audited) The table below sets out the remuneration received by each Non-Executive Director in 2018. The Group has only been publicly listed since 21 May 2018. However, a number of Non-Executive Directors served as Non-Executive Directors of BGEO Group PLC prior to the Demerger and the remuneration for the 2018 FY period includes remuneration for pre and post Demerger including JSC Bank of Georgia fees for the whole period. The information provided does not include any directors of BGEO Group PLC who subsequent to the Demerger became a Director of Georgia Capital PLC. Bank of Georgia JSC Bank of Georgia BGEO Limited Total fees Group PLC fees (US$) fees (US$) fees (US$) (US$) 2018 2018 2018 2018 Neil Janin 63,264 210,313 40,323 313,900 Alasdair Breach 37,851 94,973 24,126 156,950 Tamaz Georgadze 40,735 102,384 24,235 167,354 Hanna Loikkanen 41,195 104,593 24,235 170,023 Véronique McCarroll 13,085 – – 13,085 Jonathan Muir 39,991 94,446 21,666 156,103 Cecil Quillen 52,497 61,836 – 114,333 Andreas Wolf 13,852 6,844 – 20,696 TOTAL 302,470 675,389 134,585 1,112,444 Notes: 1.Neil Janin, Alasdair Breach, Tamaz Georgadze, Hannah Loikkanen and Jonathan Muir were appointed to the Board and its Committees on 24 February 2018. They also served as Non-Executive Directors of BGEO Group PLC until BOGG listed on 21 May 2018. The BGEO Group PLC Non-Executive Directors waived their entitlement to the Bank of Georgia Group PLC fees up until the listing date, receiving BGEO Group PLC fees to that date. 2.Cecil Quillen was appointed as a member of the Board on 24 February 2018 and to the Audit, Remuneration and Nomination Committees on the same dates. 3.Véronique McCarroll and Andreas Wolf were appointed as members of the Board on 1 October 2018 and to the Risk and Nomination Committees on the same date. 4.Andreas Wolf was appointed to the Audit on 1 October 2018. 5.Tamaz Georgadze stepped down from the Audit Committee on 1 October 2018. In 2018, no payments were made to past Directors, nor payments were made for loss of office. Previous Directors Prior to the Demerger Levan Dadiani and Levan Kulijanishvili were directors of BOGG until 24 February 2018. Mr Dadiani and Mr Kulijanishvili did not receive remuneration from BOGG. 144 Annual Report 2018Bank of Georgia Group PLC