Portfolio Valuation and Ameriabank Acquisition Update

LIQUIDITY OUTLOOK LIQUIDITY DEVELOPMENT OVERVIEW (US$ MILLION) GROSS DEBT (US$ million) 300 GEORGIA CAPITAL 300 365 365 300 150 150 Cash receipt from the water utility business sale Cancellation of US$ 65 million GCAP Eurobond 234 Redemption of GCAP Eurobonds *LIQUIDITY UP BY 7.1% Q-O-Q IN 4Q23, REFLECTING THE NET EFFECT OF DIVIDEND INFLOWS AND SHARE BUYBACKS DURING THE QUARTER **LIQUIDITY DOWN BY 73.7% Y-O-Y, MAINLY REFLECTING THE REDEMPTION OF GCAP'S EUROBONDS IN 2023, WHICH WAS PARTIALLY FINANCED BY GCAP'S EXISTING LIQUID FUNDS BALANCE 88 152 +7.1% ... 74 54 38 Dec-19 Dec-20 Dec-21 Jun-22 Dec-22 Sep-23 40 Dec-23 36 I I 1 I I I I

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