Investor Presentaiton

Externally valued¹ HEALTHCARE SERVICES BUSINESS VALUATION OVERVIEW VALUE DEVELOPMENT OVERVIEW | 2Q21 (GEL MILLION) Change q-o-q 899 Enterprise value 31-Mar-21 555 65 +7.3% 964 -6.4% +2.8% +13.3% 686 (241) (37) IMPLIED LTM EV/EBITDA² DEVELOPMENT (incl. IFRS 16) 12.5x 10.6x Increase in EV Enterprise value 30-Jun-21 Net debt inc. Lease liabilities Minority interest Equity value 30-Jun-21 31-Mar-21 30-Jun-21 VALUATION HIGHLIGHTS GEL million, unless noted otherwise Valuation method 30-Jun-21 31-Mar-21 Change 31-Dec-20 Change Combination of income approach (DCF) and market approaches1 Enterprise value 964.0 898.8 65.2 836.9 127.1 LTM EBITDA² 90.7 71.9 18.8 63.6 27.1 Implied EV/EBITDA multiple 10.6x 12.5x -1.9x 13.2x -2.5x Net debt incl. lease liabilities Equity value (240.6) (257.1) 16.5 (230.1) (10.5) 723.4 641.7 81.7 606.8 116.6 Equity value of GCAP's share 685.8 605.1 80.7 571.7 114.1 Georgia Capital PLC | 1. The independent valuations of the large portfolio companies are performed on a semi-annual basis. Our private large portfolio companies were valued externally as of 30-Jun-21 by a third-party independent valuation firm. 2. LTM EBITDAS are presented excluding HTMC. GEORGIA CAPITAL Agu. Sap. Oct. Nov. Dec. LVL 36 aVL SUP aVF 54 54

View entire presentation