Investor Presentaiton

Beer business GBG CSD EXPORT POTENTIAL GEORGIAN CSD EXPORT DOUBLE-DIGIT GROWTH DRIVEN BY ITS INCREASED POPULARITY GLOBALLY Volume - CSD Export 27% CAGR'16-20 Value - CSD Export 28% CAGR'16-20 GEORGIA CAPITAL GBG TARGETS SIGNIFICANT GROWTH IN CSD EXPORT SALES GBG export share in relevant CSD categories (75% of total CSD exports from Georgia) 141% growth I 20.0% 131.8 I 000, ΤΗ 523 30.9 452 26.6 26.7 14% 419 16% 8% 13% 9% 10% 274 10% 15% 20% USD mln 11% 17.0 9% 10% 15% 19% 199 14% 11.7 13% 40% 22% 43% 23% 10% 13% 12% 13% 22% 31% 19% 35% 46% 43% 32% 40% 37% 42% 31% 31% 33% 34% 24% 24% 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 ■Russia Azerbaijan Armenia Ukraine Kazakhstan Other HL '000 4.4% 2.4% 16.4 6.8 2019 2020 2025F CSD EXPORT SALES SHARE IN GBG REVENUE TO INCREASE 5X TO 23% 5% 2020 95% CSD export Other 77% 2025 23% Georgian CSD products are prominent and hold historical and cultural value in CIS countries. CSD exports from Georgia grew 2.6x over the last 5 years GBG targets to reach 132k HL sales by 2025, translating into c.20% market share in CSD exports vs. current 4.4% Through CSD sales growth, GBG will increase the utilization of its existing CSD production capacity and diversify its revenue streams on international markets 102 Source: Geostat

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