Portfolio Valuation and Ameriabank Acquisition Update

Private large portfolio companies EXTERNALLY VALUED HOSPITALS BUSINESS OVERVIEW (CONT'D) CASH FLOW HIGHLIGHTS1 4Q23 FY23 Operating cash flow GEL (3.7)m GEL 10.6m Average length of stay Change y-o-y NMF -66.5% EBITDA to cash conversion -46.8% 23.0% Change y-o-y NMF -32.9 ppts Free cash flow GEL (17.2)m GEL (35.1)m Change y-o-y NMF NMF 7 Number of large and specialty hospitals 27 Number of regional and community hospitals 51 Emergency cars In Tbilisi and regions GEL million BED OCCUPANCY RATE - LARGE AND SPECIALTY HOSPITALS 5.1 55.5% -2.0ppts 4.9 5.0 55.8% 53.5% 2022 2023 NET REVENUE Gross profit margin (%) 36.0% 32.8% 38.7% 28.9% 313.4 +0.1% 313.7 78.7 -1.4% 77.6 2022 2023 4Q22 4Q23 Georgia Capital PLC | 1.Excluding IFRS 16 impact. GEL million -1.2ppts 4.7 54.6% 4Q22 4Q23 EBITDA² EBITDA margin (%)¹ 17.8% 14.5% 19.4% 9.9% -18.7% -49.0% 56.8 46.1 15.5 7.9 2022 2023 4Q22 4Q23 GEORGIA CAPITAL 62 52

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