1Q20 Results Discussion

Sovereign ratings with favourable macro fundamentals Rating Agency Key Ratings Highlights General Facts Rating Outlook Affirmed wwwwww MOODY'S Ba2 Stable September 2019 S&P Global BB Stable October 2019 Fitch Ratings BB Negative April 2020 Georgia is favorably placed among peers Fitch Rating Country Country Rating Outlook Armenia BB- Negative Azerbaijan BB+ Negative Belarus B Stable Czech Republic AA- Stable Georgia BB Kazakhstan BBB Stable Turkey BB- Stable Ukraine B Stable LIGYA 4144 Georgia KARACHISTAN LON 16031 Fecativa Negative Area: 69,700 sq. km Population (2018): 3.7 million Capital: Tbilisi; Economy Life expectancy: 73.5 years Official language: Georgian Literacy: 100% Currency (code): Lari (GEL) Nominal GDP (Geostat) 2019: GEL 50 billion (US$17.7 billion) Real GDP growth rate 2019: 5.1% Real GDP 2010-2019 annual average growth rate: 4.8% GDP per capita 2019 (PPP, international dollar) IMF: 12,227 Annual inflation 2019: 4.9% External public debt to GDP 2019: 32.4% GEORGIA CAPITAL RUSSIA Page 61

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