FY20 Results and Strategy Overview

GEL NAV PER SHARE (GEL) DEVELOPMENT OVERVIEW NAV PER SHARE UP 27.2% TO GEL 48.12 IN 4Q20 AND UP 2.7% IN FY20 % Change q-0-9 -35.6% 46.84 31-Dec-19 +4.9% +19.5% +2.7% RETURNING TO THE PRE-PANDEMIC LEVEL Total NAV per share 37.84 31.67 30.18 CONTROLLABLE (PRIVATE) NAV PER SHARE UP 54% TO GEL 39.32 IN FY20 GEORGIA CAPITAL % Change q-o-q -25.0% +27.2% 48.12 GEL -0.5% +54.4% 25.47 19.11 19.01 +69.3% +22.1% 39.32 32.19 31-Mar-20 30-Jun-20 30-Sep-20 31-Dec-20 31-Dec-19 31-Mar-20 ■Controllable (Private) NAV per share 30-Jun-20 30-Sep-20 31-Dec-20 % share of controllable (private) NAV per share up from 54% at 31-Dec-19 to 82% at 31-Dec-20 Controllable (private) NAV per share adjusted for GHG transfer¹ was up 25.9% to GEL 33.15 in 4Q20 (up 30.2% in FY20) Georgia Capital PLC | 1. Excludes transfer of GHG value from listed to private assets based on GHG's value as of 4-Aug-20. 27

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