BGEO Group Financial Update

GHG | Maintain dominant market share in hospitals by capacity and revenue Hospital Competition Key takeaways:(1) • GHG is more than four times larger than next largest competitor Highly fragmented with top 5 players having 40% market share and average number of beds per hospital at 45 84% of national bed capacity is privately owned 64% of beds are renovated in Georgia, compared to 86% of GHG's beds that are renovated National bed capacity, % breakdown (¹) Soviet-era legacy 36 % 490 % 64 ■Renovated beds Soviet-era beds 86% of GHG beds are renovated (2) Renovated Key Georgian Hospitals (1) National bed capacity (# of Beds, # of Hospitals) (¹) EVEX Medical Corporation Vienna Insurance Group 449 Gudushauri-Chachava 483 Aversi 225 PSP 216 Other Revenue market share growth drivers: • c.30% market share by capacity to be achieved after renovation of Deka and Sunstone (additional c.500 beds) increasing presence in Tbilisi hospital market (from 24.0% to 30.2% by beds) that has 1.9x higher hospitalization rate vs Georgian average. Continuing to optimise service mix at recently acquired, less efficient hospitals (Avante, Traumatology, Sunstone, Deka, HTMC) by adding higher revenue generating services Holding company of BANK OF GEORGIA BGEO www.bgeo.com Sources: (1) November 2015 (2) GROUP #1 2,670 36|75 27% 15 30 4% 3|161 5% 5145 2% 2|108 2% 6,012 160|37 60% Market share X Number of hospitals X Average number of beds at hospital Market share by number of beds. Source: NCDC, data as of December 2014, updated by company to include changes before 30 June 2015 GHG internal reporting page 42

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