1Q23 Performance Overview

AGGREGATED LEVERAGE OVERVIEW ACROSS OUR LARGE AND INVESTMENT STAGE PORTFOLIO COMPANIES GEORGIA CAPITAL ADJUSTED¹ NET DEBT/EBITDA DEVELOPMENT OVERVIEW LTM EBITDA up 10.5% as at Mar-23 from Dec-19; Excluding the minority buyout agreement at Retail (pharmacy), adjusted net debt of large and investment stage portfolio companies was down 25.3% as at Mar-23 from Dec-19. GEL MILLION 3.2x 3.1x 2.8x 2.6x 2.6x 2.6x 2.5x 2.6x 2.7x 2.4x 623 624 603 552 89 528 539 124 131 92 92 93 92 184 598 186 586 197 516 224 534 235 472 238 499 223 535 218 460 206 435 203 447 Dec-19 Jun-20 Dec-20 Jun-21 Dec-212 Mar-222 Jun-222 Sep-222,3 Dec-222 Mar-232 LTM EBITDA Adjusted Net debt 1 - Adjusted Net debt/EBITDA Minority buyout agreement at Retail (Pharmacy) Georgia Capital PLC | General note: Figures for Hospitals, Retail (Pharmacy), Clinics and Diagnostics are given excluding IFRS 16 effects. 1. Adjusted for capital commitments. 2. Includes the application of the minority buyout agreement in the retail (pharmacy) business. 3. Renewable energy business net debt, excluding US$ 10 million quasi equity. 21

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