Investment and Growth Strategy

Private investment stage portfolio companies EXTERNALLY VALUED RENEWABLE ENERGY BUSINESS OVERVIEW (CONT'D) PERFORMANCE HIGHLIGHTS RENEWABLE ENERGY PROJECTS OVERVIEW | 31 MARCH 2023 GEORGIA CAPITAL Generation, 1.5 1.6 6.7 13.2 20.8 19.1 28.9 33.9 GWh Commissioned Installed capacity projects Gross PPA (MWs) capacity factor (P50) expiration PPA tariff, US$/KWh Generation in deficit months Revenue, $ '000 2,068 1,805 Mestiachala HPP 30.0 40% 1,349 1,241 Hydrolea HPPS 1H34 5.5 72% 20.4 70% 1H22-2H28 5.5-5.6 79% 738 373 83 89 Qartli Wind Farm 20.7 47% 2H29 6.5 85% Total operating 71.1 Mestiachala Hydrolea Qartli WPP Total Note: Mestiachala HPP was commissioned in 1H19; Qartli Wind Farm and Hydrolea HPPS were acquired in 2H19 by GCAP. 1Q23 ■1Q22 FINANCIAL HIGHLIGHTS 1Q23 1Q23 EBITDA (US$ million) 0.9 Change (y-o-y) -24.9% Cash flow from operations (US$ million) Change (y-o-y) 0.6 -49.0% EBITDA margin, % 49.7% Average sales price in (US$/MWh) 62.4 Change (y-o-y) -8.1ppts Change (y-o-y) +2.4% Dividend payment (US$ million) 2.0 Change (y-o-y) NMF 63

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