Investor Presentaiton

GBP 15.0 13.0 11.0 9.0 7.0 5.0 May-18 Includes both vested and unvested awarded shares Historical GCAP share price Jun-18 Jul-18 Aug-18 Aug-18 Aug-18 Sep- Oct- Nov- Nov- Dec- CGEO:LN performance LSE premium listed, with more than 90% institutional shareholder base GCAP shareholders allocation by geography 30.2% O 5.9% 5.5% 7.6% Number of outstanding shares as at 31-Dec-19 39,384,712 (2,650,375) 3,435,438 37,441,971 (2,727,804) ■ USA 28.7% ■ UK/Ireland ■Luxembourg ■Scandinavia Number of shares Shares cancelled Unawarded shares, issued in May 2018 management trust Shares issued* Number of shares outstanding ■Management* 22.1% ■ other GEORGIA CAPITAL As of 26 February 2020 Average daily trading volume - GBP 1.0 (million) Market Capitalization - GBP 298 (million) * In December 2019 GCAP issued 3.4 million new shares for acquisition of 13.6% equity stake in GHG Feb-1 Mar-19 Mar-19 Apr- May-1 Jun-1 Jul-19 Jul-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 GCAP top shareholders | 31-Dec-2019 Rank Shareholder name Ownership 1 M&G Investment Management Ltd 7.53% 2345 Schroder Investment Management Ltd 4.73% LGM Investments Ltd 3.40% Consilium Investment Management LLC 3.38% Vanguard Group Inc 3.12% 6 Norges Bank Investment Management 3.12% 7 Dunross & Co AB 2.85% 8 9 10 Van Eck Global T Rowe Price Total 2.68% Firebird Management LLC 2.39% 2.18% 35.38% Page 4

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