Investor Presentaiton

Water utility and renewable energy businesses | snapshot Water utility business Providing Renewable energy business Commissioned (91MW) Pipeline (172MW) Water production and supply services Wastewater collection and treatment services Electricity generation and sale 50MW Mestiachala HPPS At a glance Serving c. 1.4m population 46MW Zoti HPP 17.5MW Darchi HPP 20MW Hydrolea HPPS c. 36,000 commercial customers H 54MW Tbilisi WPP H 21MW Qartli WPP c. 3,700km of water network H 54MW Kaspi WPP Owning & operating 149MW HPPs linked to water utility services Key highlights • Natural monopoly with full asset ownership of water and wastewater network in the capital city of Georgia and surrounding areas Regulated business with fair returns - current regulatory WACC set at 15.99% Outstanding cash collection rates of 95%+ Self-sufficient in terms of electricity consumption by operating 149MW installed capacity hydro power plant Opportunity to establish one of the largest renewable energy platforms (c. 412MW) and capitalize on favorable electricity market conditions Build cheaply (below USD 1.5m per MW) due to underinvested hydro and wind potential in Georgia High cash-flow visibility, as operational and pipeline projects benefit from long- term fixed price PPAs formed with the Government-backed entity The natural hedge of FX risk from USD denominated electricity sales, as the whole electricity market operates in US dollars Note: In July 2020, holding company of water utility business and operational/commissioned renewable energy assets issued USD 250m green bonds 3

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