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Investor Presentaiton

GEORGIA'S ECONOMIC OUTLOOK IN 2021 GEORGIA'S ECONOMIC GROWTH FORECAST 12% 10% 7.4% 8% 6.4% 6.2% 6% 4% 2.4% 2% ovo ovo 0% -2% -4% -3.7% -6% Source: Geostat, Galt & Taggart 4.8% 4.8% 5.0% 4.4% 3.6% 3.0% 2.9% 8.6% -6.2% 7 5.7% Our brokerage and investment arm, Galt & Taggart's revised 2021 growth forecasts upwards to 8.6% from the previous forecast of 7.0%. Government and International Monetary Fund revised Georgia's real GDP growth projection upwards to 7.7%, expecting GDP growth in 2021 to exceed pre-pandemic level. The National Bank of Georgia forecasts real GDP growth at 8.5% in 2021. Downside risks remain - delays in the vaccination progress, as well as the potential appearance of new COVID-19 variants may require tightening of restrictions and may increase Lari volatility. If the risks do not materialise, there is a likelihood of higher real GDP growth of 11.2% in 2021. -8% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021F 2022F
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