Investor Presentaiton

ALDAGI POTENTIAL CONCERNS 5 POTENTIAL CONCERNS (Cont.) ALDAGI RESPONSE Government becomes major buyer in healthcare market • Aldagi healthcare has most balanced portfolio, Government spending comprising only 20% As universal healthcare covers limited number of treatments, out-of pocket and private insurers spending will still remain high 6 Healthcare expenditure already comprises 10% of GDP, leaving small room for health Market expansion above GDP growth . Pharmacy comprises 38% of total healthcare expenditure, Far above than that in developed countries, the result of irrational pharmacotherapy, rare prescription of generic drugs etc. Thus in & outpatient share of GDP is still low in Georgia Improved regulations on pharmacy sector will result in decreased expenditure leaving room for in & outpatient expansion Source: Syreon Research Institute 2009 | Figure for Georgia represent Y2012 data % of Pharmacy in Total HC Expenditure Georgia 38.0% Greece 24.8% Estonia 23.4% Poland 22.4% Czech 19.4% Slovenia 18.8% Germany 14.9% US 12.0% UK 10.1% 22 22

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