Investor Presentaiton

NAV STATEMENT | 2Q21 1.Value GEL thousands unless otherwise noted 31-Mar-21 Creation 2a. Investments 2b. Buybacks 2c. Dividends 3.Operating Expenses 4. Liquidity Management/ FX / Other 30-Jun-21 Change % Listed Portfolio Companies BOG 505,106 70,288 575,394 13.9% Listed Portfolio Value 505,106 70,288 575,394 13.9% Listed Portfolio value change % 13.9% 0.0% 0.0% 0.0% 0.0% 0.0% 13.9% Private Portfolio Companies Large portfolio companies 1,870,709 218,776 (4,959) 250 2,084,776 11.4% Healthcare Services Pharmacy and Distribution Water Utility 605,084 80,737 685,821 13.3% 535,586 44,816 580,402 8.4% 456,880 91,100 250 548,230 20.0% P&C Insurance 273,159 2,123 P&C Insurance 204,618 6,692 Healthcare Insurance 68,541 (4,569) Investment stage companies 309,717 37,247 2,287 Renewable energy 206,501 17,804 1,287 (4,959) (4,959) (4,732) (4,732) 270,323 -1.0% 206,351 0.8% 63,972 -6.7% 249 344,768 11.3% 249 221,109 7.1% Education 103,216 19,443 1,000 123,659 19.8% Others 236,190 5,601 100 497 242,388 2.6% Private Portfolio Value 2,416,616 261,264 2,387 (9,691) 996 2,671,932 10.6% Private Portfolio value change % 10.8% 0.1% 0.0% -0.4% 0.0% 0.0% 10.6% Total Portfolio Value 2,921,722 331,912 2,387 (9,691) Total Portfolio value change % 11.4% 0.1% 0.0% -0.3% 0.0% Net Debt (760,081) (2,387) (1,487) 9,691 (5,430) 996 0.0% 45,629 3,247,326 11.1% 11.1% (714,065) -6.1% of which, Cash and liquid funds of which, Loans issued 339,361 128,027 (2,387) (1,487) 9,691 (5,430) (55,851) 283,897 -16.3% 30,164 158,191 23.6% of which, Gross Debt (1,227,469) 71,316 (1,156,153) -5.8% Net other assets/ (liabilities) 4,450 (3,792) 3,617 4,275 -3.9% Share based compensation (3,792) 3,792 0.0% Net Asset Value 2,166,091 331,912 (1,487) (9,222) 50,242 2,537,536 17.1% NAV change % 15.3% 0.0% -0.1% 0.0% -0.4% 2.3% Shares outstanding 46,279,963 (52,453) 348,434 17.1% 46,575,944 0.6% Net Asset Value per share 46.80 7.18 0.00 0.03 0.00 (0.20) 0.66 54.48 16.4% NAV per share change % 15.3% 0.0% 0.1% 0.0% -0.4% 1.4% 16.4% GEORGIA CAPITAL 156

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