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Investor Presentaiton

Teliani financial highlights Balance Sheet Change Change GEL thousands unless otherwise noted Cash and cash equivalents Amounts due from financial institutions Trade and other receivables Inventory Mar-18 Mar-17 y-o-y Dec-17 q-o-q 9,055 17,085 (47.0%) 17,455 (48.1%) 3,330 6,742 (50.6%) 4,381 (24.0%) 10,714 5,112 109.6% 12,179 (12.0%) 18,961 11,189 69.5% 17,454 8.6% PPE and intangible assets, net 109,801 81,058 35.5% 104,671 4.9% Goodwill 5,186 2,836 82.9% 2,836 82.9% Prepayments and other assets 5,747 16,355 (64.9%) 4,472 28.5% Total assets 162,794 140,377 16.0% 163,448 (0.4%) Trade and other payables 13,249 15,763 (15.9%) 14,335 (7.6%) Borrowings 66,738 57,588 15.9% 71,430 (6.6%) Short term borrowings 7,134 8,020 (11.0%) 9,948 (28.3%) Long term borrowings 59,604 49,568 20.2% 61,482 (3.1%) Other liabilities 2,710 1,369 98.0% 1,776 52.6% Total liabilities 82,697 74,720 10.7% 87,541 (5.5%) Share capital 5,200 3,688 41.0% 5,200 0.0% Additional paid-in capital 92,877 59,793 55.3% 84,465 10.0% Retained earnings (16,081) 3,829 NMF (11,976) 34.3% Revaluation and other reserves (1,899) (1,653) 14.9% (1,782) 6.6% Total equity 80,097 65,657 22.0% 75,907 5.5% Total liabilities and equity 162,794 140,377 16.0% 163,448 (0.4%) GEORGIA CAPITAL Page 56
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