Investor Presentaiton

2010 2011 2012 Debt to GDP (SNA 2008) Data Sources: NBG, GeoStat, IMF 2013 2014 2015 2016 Debt to GDP (SNA 1996) 2017 Methodological changes led GDP and external measures to improve Nominal GDP and GDP Per Capita 50 40 G Gel bn After transition, 2018 GDP increased by 8.6%, out of which 3% was due to methodological changes, and 5.6% due to improved sources US$ GEORGIA CAPITAL CA and FDI 6,000 20% CAB (SNA 1993) ■CAB (SNA 2008) FDI (SNA 1993) FDI (SNA 2008) 4,722 500 5,000 15% 10% 30 7.8% 7.2% 4,346 5% 4,000 20 10 10 21 22 24 25 26 27 27 29 29 31 32 34 34 36 38 41 41 45 3,500 0% 3,000 -5% 2,500 -10% -6.8% -7.3% 0 2010 2011 2,000 2012 2013 2014 2015 2016 2017 2018 -15% Public Debt GDP (SNA 1993) GDP Per Capita (SNA 2008) 36.5% 34.8% 34.7% 35.7% GDP (SNA 2008) -20% GDP Per Capita (SNA 1993) 2010 2011 2012 2013 2014 2015 2016 2017 2018 70% 42.4% 44.4% 44.9% 43.9% 41.4% 50% 60% 40% 50% 30% 40% 30% 40.3% 38.8% 42.2% 41.7% 40.4% 20% 34.8% 33.5% 20% 10% 32.6% 33.4% 10% 0% 0% Methodological changes and improved sources Methodological changes mainly concern FISIM*, R&D expenditures, and imputed rent of occupied dwellings. Improved sources include the shadow economy, illegal activities, and intermediate consumption. * Financial intermediation services indirectly measured. 2018 Page 57

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