Investor Presentaiton

Current account deficit down to historic lows Current account balance (% of nominal GDP) Sources: NBG Exports and Re-exports, US$ billion Source: NBG 30% 20% 10% 0% -10% -20% -9.8% -12.2% -30% -40% Double digit shrinking in the trade deficit helped CAB to improve to a historic low of under 3% in 9M19 10.0 20% 10% 8.0 0% 6.0 -10% -2.7% 40 4.0 -11.4% -5.6% -10.2% -8.1% -6.8% -6.1% -20% -11.8% -12.5% -30% 2.0 -40% 0.0 2010 2011 2012 2013 2014 2015 2016 2017 2018 9M2018 9M2019 20 00 Goods, net Services, net Investment income, net Current transfers, net Current account FDI FDI and capital goods import Source: GeoStat 20.0% 15.0% GEORGIA CAPITAL ■Service exports Goods exports, geo-originated 0.8 1 ■Re-exports 0.5 1.1 0.9 0.5 0.7 0.9 0.4 0.3 3.6 0.7 3.1 2.7 2.9 0.3 0.5 3.1 3.1 2.6 2.5 0.2 2000 2001 2002 8158 2007 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.6 0.7 2004 2005 2006 R 20 0.2 2.5 2.5 1.9 1.6 2.6 3.0 3.0 3.1 3.3 4.0 4.5 3.5 3.6 1.1 1.3 1.6 2.0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 ------ 9M2018 9M2019 11.1% 11.7% 10.3% 10.3% 10.0% 6.9% 7.5% 7.2% 8.1% 8.7% 7.9% 8.5% 8.4% 8.6% 5.7% 6.2% 5.9% 6.5% 7.2% 7.6% 7.2% 8.0% 7.1% 5.0% 0.0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 9M2018 9M2019 FDI, % of GDP ■Capital Goods Import, % of GDP Page 61

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