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DRAFT QBR # 1 14 Feb , 2012

DRAFT QBR # 1 14 Feb , 2012. Kiev. Plans with our main banks & partners. Retail non-USB banks+ CSC Budget 2012 – in details. * GWP 2010-2011 per banks are not included Agency network credit –linked sales. CSC (retail + corporate) Fact 2011 details. Sales : Banks + CSC.

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DRAFT QBR # 1 14 Feb , 2012

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  1. DRAFTQBR #114 Feb, 2012 Kiev

  2. Plans with our main banks & partners

  3. Retail non-USB banks+ CSC Budget 2012 – in details * GWP 2010-2011 per banks are not included Agency network credit –linked sales QBR #1 14.02.2012

  4. CSC (retail + corporate)Fact 2011details QBR #1 14.02.2012

  5. Sales: Banks + CSC KEEP or APPENDIX??? * GWP 2010-2011 per banks are included Agency network credit –linked sales Total sales 2011, including corporate and credit linked CSC – 251MUAH( 234 MUAHin 2010) Top 20, as shown above, gives228,3MioUAH – or 93% of the portfolio Top 10gives 206,23MioUAH – 90% of Top 20and 84% of the portfolio Total sales CSC in 2011 – 109 MUAH (69M UAH in 2010) BUDGET 2012 Non USB banks +CSC (corporate + retail) 272 MUAH

  6. Bank sales shortage main causes First of all, the prohibition of lending in foreign currency (the President signed a law in October 2011) decreased number of loans taken by legal entities working with currency. However the impact of this prohibition on individual loans market was insignificant. Second: increase of hryvniaresources value, which finally led to increase of interest rates on loans · Reduction the mass of the National Bank hryvnia (an attempt to fight inflation) · The liquidity crisis in Q4 Banks to show good performance at the end of the year, but having no hryvnia were forced to buy resources at any cost. That made market rates on deposits became very high, in consequence of which the interest rates on loans also grew - which led to a massive decrease in the volume issued credits To visualize the impact of the second cause let’s look at the AXA business changes in Q3 Main banks-partners of AXA strongly decreased the amount of extended loans: USB, UkrSotsBank, Pravex Bank, OTP Bank, FUIB (PUMB) Some of them also stopped to participate in centralized parterships – Pravex and UkrSotsBank Some programs planned to start (with all preparations ready) were suspended – e.g. OTP Bank “Change the Car”, Plus Bank (now IdeaBank) – “Used Car Loans – Best Conditions” Some banks, such as IdeaBank and AstraBank, didn’t cut fully their loan operations but decided to stay with a very limited number of cars of very certain importer (UkrAvto). There’s no option to cooperate with this importer for any IC in Ukraine, except of “Express Insurance” and “GarantAvto” which are owned by UkrAvto. QBR #1 14.02.2012

  7. Opportunities for 2012Porsche Finance Group Main details Cooperation agreement is signed – we’ve started at 19.12.2011 Cooperation process is defined and approved АХА is considered in PFG as the preferred partner Latest: due to the creation of Porsche Insurance Agency – the internal insurance broker – we will resign Cooperation Agreement but there’s no major changes in process Cooperation information We insure Volkswagen, Audi, Porschecars (85%), and also other brand cars purchased via credit or leasingby financing programs of the Porsche Finance Group We insure leasing cars (Porsche Leasing) and credit cars (Porsche Mobility) Leasing cars insurance is performed only by HQ of the AXA in Ukraine In the credit cars insurance process we also will use our regional personnel The program opens the opportunity to insure cash cars in dealer ships QBR #1 14.02.2012

  8. Opportunities for 2012 RCI Renault &Nissan Insurance Main changes • Swithing a broker – instead of Willis RCIBanque introduces Gras Savoye. The role of the new broker is not yet defined and is a matter of negotiation. There is no option to cooperate directly with RCI without any broker. • All conditions remains the same • Main task of the cooperation scheme with GS shall be cash cars insurance and renewals • We started pilot program of insurance of the used cars should be sold on Renault dealerships • The program of extended warranty for used (trade-in) Renault/Nissan cars is on development. QBR #1 14.02.2012

  9. Opportunities for 2012 Changes in cooperation with CA Bank We’ve defined several main priorities 1st priority • Penetration rate АХА inCA Bank • Changes has to be made in: • Renewals • Paid-off credit customers retention • Standalone insurance sales • Activities to initiate changes • Change of script of the Bank call-centrer • Change the communication process with client • Create bundled products designed to be offered to paid-off credit customers – containing of both banking and insurance products and using positive experience of Bank and AXA in sales to such customers • Create and set KPI for Bank employees aimed on standalone sales.Bank shall use existing database of customers who owns banking product(s) other than loan. • Create and implement motivation and animation system for Bank employees. • Created a team that meets once a week to coordinate and set short-term (weekly) goals. 2nd priority • Agricultural risks insurance – Bank is specialized on A-C • Consumer loans – product to be defined (about 5000 customers/month) • Property (mortgage): potential portfolio is 200M UAH QBR #1 14.02.2012

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