Investor Presentaiton

P&C insurance business | segment results in 2019 Well-diversified business model Motor(²) Property(3) Credit life(4) Liability(5) GEL 105mln GEL 63mln GEL 33mln GEL 30mln 30% Key Segments Market size (3Q19) (1) Aldagi market share (1) # of Clients 25% Corporate 1,322 Retail -27,183 profit, net Underwriting Earned premiums, gross GEL 31.8 GEL 98.3 սլա սյա 37% Corporate-993 Retail 11,049 Retail -3 channels 36% Corporate-984 Retail - 794 GEORGIA CAPITAL Other (6) GEL 23mln 18% Corporate-973 Retail 16,143 2014-2019 CAGR 28% 40% 60% (1) Sources: Insurance State Supervision Service of Georgia. Market shares by earned premium gross. (2) Motor own damage, motor third party liability insurance. (3) Contractor's all risks insurance (CAR), Commercial property, Household Property, Machinery breakdowns insurance. (4) Loan-linked life insurance. (5) Financial risk, employer's liability, professional indemnity, General third party liability insurance (GTPL), Freight Forwarders' liability (FFL), Household GTPL, Product liability insurance. (6) Cargo, Contractor's Plant And Machinery insurance (CPM), Livestock, Bankers blanket bond insurance (BBB), Directors and officers liability Insurance (D&O), Agro insurance. 2014-2019 2014-2019 2014-2019 2014-2019 CAGR 14% CAGR 4% CAGR 29% 0% CAGR 14% 22% 20% 38% 100 62% 78% 80% % GEL 35.0mln GEL 24.6mln GEL 12.8mln GEL 11.2mln GEL 14.8mln 2014-2019 2014-2019 2014-2019 CAGR 14% CAGR 16% CAGR 32% 0% 2014-2019 CAGR 18% 2014-2019 CAGR 24% 38% 42% 34% 36% 62% 58% GEL 34.8mln 2014-2019 CAGR 13% GEL 12.0mln 2014-2019 CAGR 3% 35% 39% 65% 61% 100 % GEL 12.7mln GEL 7.2mln 66% 64% GEL 8.7mln GEL 11.1mln 2014-2019 2014-2019 2014-2019 CAGR 10% 0% CAGR 14% CAGR 33% 44% 40% 56% 60% 100 % GEL 4.0mln GEL 4.7mln 2014-2019 CAGR 16% GEL 5.4mln GEL 6.8mln 2014-2019 2014-2019 20% CAGR 6% CAGR 11% 0% 2014-2019 CAGR 20% 2014-2019 CAGR 49% 39% 45% 50% 50% 55% 61% 100 % GEL 2.7mln GEL 3.2mln 80% GEL 3.8mln GEL 3.3mln Loss ratio: 42% Combined ratio: 82% Corporate-60% Retail -48% Corporate-96% Corporate-35% Retail - 62% Retail - 16% Corporate - 81% Retail - 84% Retail - 89% Retail - 78% Corporate-20% Retail - 15% Corporate -75% Retail - 51% GEL 5.3mln Corporate-13% Retail - 0% Corporate - 60% Retail - 52% Corporate Retail Page 83

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