GGU Energy and Water Utilities Investment Overview

GGU GGU management team Archil Gachechiladze Chief Executive Officer - Joined GGU in November 2016 Previously served as Deputy CEO, Corporate & Investment Banking at Bank of Georgia (BOG), prior to that he served as BGEO Group CFO and Deputy CEO Investment management at BOG. Archil joined Bank of Georgia in October 2009 as Deputy CEO Corporate Banking. - Holds MBA degree from Cornell University and also is a CFA charterholder Giorgi Tskhadadze Head of Water Utility Joined GGU in December 2014 Previously held executive positions at several leading local companies, holding position of CFO at IDS Borjomi and Poti Sea Port. Prior to joining GGU, Giorgi was acting as a partner at Proxima Prime Partners Holds BSc degree in Economics and Engineering from Tbilisi State University Giorgi Bezhuashvili Head of Wind and Solar Power - Joined GGU in July 2016 - Previously held executive positions at several leading local companies, among them serving as General Director at Georgian Energy Development Fund. Before joining GGU, Giorgi served at GRPC as Deputy CEO, wind and solar Holds a master's degree from Paris-Sud University in Economics, Technology and Territories - Giorgi Vakhtangishvili Chief Financial Officer - Joined GGU in April 2015 - Previously held different managerial positions at BGEO Group's companies; before joining GGU, Giorgi served as CEO of m2 Real Estate, the leading real estate development company in Georgia Holds BBA degree from European School of Management (ESM) Zurab Gordeziani Head of Hydropower - Joined GGU in January 2015 - Joined BGEO Group in 2013 to develop hydro projects. Before that, he was involved in the energy sector of Georgia for 14 years and was part of the team that developed current legislative framework for the energy sector in Georgia. He also served on executive positions in JSC Energo-Pro Georgia, Georgian Electrosystem and Ministry of Energy - Holds degrees in Law and Economics from Tbilisi State University Eter Iremadze Head of Strategic Projects Joined GGU in February 2017 Joined BGEO Group in 2006 and held numerous executive positions at Bank of Georgia; among those are head of SOLO (Premium Banking) department and head of Blue Chip Corporate Banking Unit covering structured lending, M&As, significant buyouts in Georgia, and project financing. Overall, Eter has 18 years of experience in banking - Holds Dual MBA degree from Grenoble Graduate School of Business & Caucasus University Jaba Mamulashvili Chief Legal Officer - Joined GGU in February 2016 - Before joining GWP he held a position of a partner at Begiashvili & Co. Limited, one of the leading Georgian law firms. Jaba specializes in commercial law and has a notable experience in equity investments, corporate and project financing, etc. Holds a master's degree in International Business Law from University of Manchester Tina Simonishvili Head of Investor Relations - Joined GGU in February 2016 Previously worked for BGEO Group companies for more than 6 years, namely as an associate in department of DCM at Galt & Taggart leading investment bank in Georgia and as a principal corporate banker at Bank of Georgia Holds BBA degree from Caucasus School of Business and MSc in International Management from King's College London October 2017 page 7

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