Investment and Growth Strategy

LEVERAGE OVERVIEW OF OUR PRIVATE BUSINESSES TOTAL NET DEBT/EBITDA DEVELOPMENT OVERVIEW ➤ Despite headwinds from COVID-19, leverage profile across our private portfolio companies improved over the last 2 years. GEORGIA CAPITAL 5.5x 5.3x 4.6x 3.9x 3.7x 3.7x 3.5x 3.3x 3.3x 3.0x 189 1,039 200 1,062 225 1,025 268 998 258 913 255 946 238 927 244 814 245 803 242 723 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Mar-22 Jun-22 Sep-221 Dec-22 Mar-23 Total LTM EBITDA Total Net debt -Total Net debt/EBITDA Georgia Capital PLC | General note: Figures for Hospitals, Retail (Pharmacy), Clinics and Diagnostics are given excluding IFRS 16 effects. Net debt Includes the application of the minority buyout agreement in the retail (pharmacy) business and assumes the conversion of the loans issued to our real estate and beverages businesses into equity. 1. Renewable energy business net debt, excluding US$ 10 million quasi equity. 20 20

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