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Investor Presentaiton

Electricity market liberalization Georgia is on track to the harmonization of current energy market structure with EU directives leading to liquid, competitive and transparent market Deregulation of electricity market by moving large industrial customers out of regulated scheme to free market 1H19 Adoption of new Electricity Market Model Concept 2H19 1H20 Foundation of Georgian Energy Exchange, which will operate on Nord Pool Consulting's trading platform Already implemented To be implemented Launch of Day-Ahead Market and Balancing Market platform 2H20 2H21 2H22 Introduction of feed-in tariff mechanism. Adoption of rules for day- ahead, intraday markets, balancing and ancillary services Launch of Intraday Market platform 9
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