Georgia Capital Investor Day

% 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 GEORGIA CAPITAL Jan-08 May-08 Sep-08 Jan-09 May-09 Sep-09 % 20.0 15.0 10.0 5.0 0.0 -5.0 Jan-08 Apr-09 Georgian lari remains stable compared to other regional currencies Monetary policy focuses on price stability Average inflation remains close to target Jul-10 Neutral monetary stance is expected in 2019 Jan-10 May-10 Sep-10 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Dec-10 May-11 Oct-11 Mar-12 Aug-12 Headline Inflation Inflation Target 3% inflation target from 2018 Jan-13 Jan-13 May-13 Jun-13 Sep-13 Nov-13 Jan-14 May-14 Apr-14 Sep-14 Sep-14 Jan-15 Feb-15 May-15 Jul-15 Sep-15 Dec-15 Jan-16 May-16 May-16 Sep-16 Oct-16 Jan-17 Mar-17 May-17 Sep-17 Jan-18 May-18 Sep-18 Aug-17 Jan-18 Jun-18 Nov-18 Jan-19 May-19 Data sources: Geostat, NBG 11 6.50 Apr-19 4.7

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