FY20 Results and Strategy Overview

DIVERSIFIED FOREIGN TRADE Goods' Trade Deficit Source: GeoStat In 2020, the trade deficit fell by 18.5%, as exports were cut by 12% and imports contracted by 15.9% on the back of the pandemic 0 -100 -200 -300 -400 -500 009- -700 Jan-17 May-17 Mar-17 Jul-17 Sep-17 Nov-17 Jan-18 Mar-18 May-18 Jul-18 Sep-18 Nov-18 Jan-19 Mar-19 Trade Deficit, US$ mn, LHS Electricity generation and trade, GWH Source: ESCO Jan-17 Feb-17 1400 1200 1000 800 59% 600 400 200 0 45% 73% 88% Hi 99% 99% 99% Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 May-19 Jul-19 % change y/y, trade deficit, RHS Sep-19 Nov-19 Jan-20 Mar-20 May-20 Jul-20 Sep-20 Nov-20 Oil imports Source: GeoStat 1,200 50% 1,000 40% 30% 800 20% 10% 600 0% -10% 400 -20% 200 -30% -40% -50% (200) (400) (600) WPPS TPPS HPPS Imports Exports Domestic Supply 63% 68% 67% 64% 78% 93% 99% 99% 91% 96% 84% 70% 86% Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 80% 74% 59% 63% 71% 54% 55% Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 83% 99% 99% 99% 86% 74% 73% Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 2008 Oil imports, US$ mn Oil imports, % change, y/y 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 56% 60% Oct-19 Nov-19 Dec-19 46% 54% 55% 52% 81% 83% Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 98% 99% 95% 90% 72% Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 77 GEORGIA CAPITAL 90% 70% 50% 30% 10% -10% -30% -50%

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