Investor Presentaiton

VALUE CREATION IN PRIVATE PORTFOLIO | 4Q20 & FY20 GEORGIA CAPITAL VALUE CREATION IN 4Q20 VALUE CREATION IN FY20 Portfolio Businesses Operating Performance Greenfields Multiple Change and FX Value Creation in 4Q20 Portfolio Businesses GEL thousands Operating Performance (1) Greenfields (2) Multiple Change and FX (3) Value Creation in FY20 (1)+(2)+(3) GEL thousands (1) (2) (3) (1)+(2)+(3) BOG (66,177) BOG 171,458 GHG (as listed) (195,347) Total Listed Portfolio Companies 171,458 Total Listed Portfolio Companies (261,524) Large Portfolio Companies 234,485 92,685 327,170 Large Portfolio Companies 89,997 620,003 149,545 859,545 Healthcare Services 40,279 57,877 98,156 Healthcare Services 40,279 295,641 57,877 393,797 Retail (Pharmacy) 53,276 24,469 77,745 Retail (Pharmacy) 53,276 296,577 24,469 374,322 Water Utility 126,107 (57,493) 68,614 Water Utility (7,153) 7,586 433 Insurance (P&C & Medical) 14,823 67,832 82,655 Insurance (P&C & Medical) 3,595 27,785 59,613 90,993 Investment Stage Portfolio Investment Stage Portfolio 24,688 (4,207) 20,481 35,292 57,067 6,371 98,730 Companies Companies Renewable Energy 11,713 (3,528) 8,185 Renewable Energy 22,399 32,720 7,050 62,169 Education 12,893 24,347 Education 12,975 (679) (679) 36,561 12,296 Other Portfolio Companies (15,749) 584 6,185 (8,980) Other Portfolio Companies (187,419) (1,001) (28,846) (217,266) Total Private Portfolio Companies 243,424 584 94,663 338,671 Total Private Portfolio Companies (62,130) 676,069 127,070 741,009 Total Portfolio 243,424 584 94,663 510,129 Total Portfolio (62,130) 676,069 127,070 479,485 89

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