Investor Presentaiton

GEORGIAN HEALTHCARE MARKET OVERVIEW GEORGIA CAPITAL Healthcare coverage of Georgia's 3.7m population: UHC UHC was introduced in February 2013 and replaced most of the previously existing state- funded medical insurance plans 2015 Overview ■ The main goal is to provide basic healthcare coverage to the entire population PMI UHC 2014 UHC is fully financed by the government Financing and top-up mechanism UHC doesn't reimburse 100% of costs in most cases, leaving substantial room for out-of-pocket payments by patients PMI SIP UHC 2013 UHC beneficiaries may select any healthcare provider enrolled in the programme PMI SIP OOP Beneficiaries and providers Actual prices charged to patients by healthcare providers are not regulated by the state Any provider, whether private or public, is eligible to participate in the programme 2012 Source: Ministry of Health of Georgia SIP OOP OOP OOP out-of-pocket UHC Universal Healthcare Program PMI Private Medical Insurance SIP State Insurance Program PMI, UHC, SIP include co-payments 163

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