Q1 2010 Financial Overview

Q1 2010 Net remittances increased by 24.4% y-o-y Q1 2010-selected macro economic data Quarterly net remittances 300 250 US$ mln 236 225 273 228 216 Exports and imports of goods US$ mln 2,000 1,792 1,611 1,497 1,405 1,500 1,000 182 1,263 1,130 965 1,020 1,020 Trade balance 200 deficit decreased 184 by 8.7% compared to Q1 150 2009 and 37% compared to Q1 100 2008 146 176 467 443 500 329 257 295 307 314 339 219 Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 (500) 50 (1,000) (746) (724) (681) (823) (1,076) (949) (1,500) 0 (1,325) Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009. Q2 2009 Q3 2009 Q4 2009 Q1 2010 (1,168) Export (1,240) Import TBD Q1 2010 tax revenue increased by CPI 13% y-o-y 12% Q1 2010 VAT 11.0% revenue 10.0% increased 15% 10% 9.2% 9.2% 8.8% y-o-y 8.2% 8% 6.2% 5.5% 6% 4% 2% 0% 2005 2006 2007 2008 ■CPI (e-o-p) ■CPI (average) Source: National Statistics Office of Georgia, Government of Georgia LOLO BANK OF GEORGIA www.bog.ge/ir 3.0% Quarterly tax revenue by categories GEL mln 1200 1,123 81 1,130 65 1,000 1000 116 105 44 100 5.8% 192 188 800 171 275 600 259 252 2.2% 400 1.7% 475 200 433 497 2009 Mar-10 0 Q1 2008 VAT PIT Q1 2009 CIT Q1 2010 Excise Other May 2010 Page 5

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