Investor Presentaiton

Beer business BEER LOCAL COMPETITIVE LANDSCAPE GBG N1 IN PREMIUM SEGMENT Prices are RSPs of 0.5L glass bottles Premium 87k HL >GEL 3.2 Upper Mainstream 347k HL GEORGIA CAPITAL GROWING MARKET SHARE WITH FOCUS ON PREMIUM SEGMENT GBG market shares EFES Georgia Zedazeni (GBC) 31% GBG Argo 26% 22% 16% Other 5% 52% 52% Krombacher BERNARD IB STELLA ARTOIS MÜNCHEN Pilsen EFES Corona ✓ ✓ Isner Urquell 30% Heineken 23% 18% 20%21% 20%22% Gulich Warsteiner Staropramen LÖWENBRÄU GEL 2.9 GEL 3.2 Mainstream + Eco 649k HL Mainstream GEL 2.5 - 2.9 NATAKHTARI KARVA Bavaria HOLSTEN ROYAL VIKING DEER RAGNAR รกร 23% KAYAKI AMSTEL KRUŠOVICE 21% RAZBEG აისი 6530 RAVI ICY SVIANI Original OETTINGER Economy < GEL 2.5 BELGIUM KAISER ✓ RSP - retail sales price Market shares HOLLANDIA Premium Upper mainstream Maistream Total I 2019 2020 König Filsener Argo გერმანულ Juman GBG's brands have strong brand equity on Georgian beer market, dominating in premium and upper mainstream segments GBG's portfolio includes leading international beer brands: Heineken, Amstel and Krusovice In addition to international brands, GBG holds N1 craft beer brand in Georgia (Black Lion), the only local upper-mainstream brand (Kayaki) and historic local beer brand, N1 by market share across all segments (Kazbegi) 96 Source: Management estimates

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