Tracking Georgia's Economic Recovery

0% 1Q16 2Q16 10% 3Q16 4Q16 1Q17 2Q17 3Q17 20% 30% 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 SAVINGS AND INVESTMENT TO GDP 40% ■Savings Investments 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 Jan-19 Feb-19 1Q18 2Q18 3Q18 4Q18 1Q19 RECENT TREND - REAL GDP AND ITS COMPONENTS REAL GDP GROWTH BY QUARTER, % CHANGE YOY CONTRIBUTION TO REAL GDP GROWTH Source: Geostat 12% 10% 6.8% 7.2% 4.5% 4.4% 6.0% 5.0% 5.8% 5.1% 9% 5% 6% 2.2% 2.2% 4.5% 3.4% 4.1% 3.6% 4.6% 3% 3.2% 0% 1.8% -3.8% 0% -3% -5% -6% -10% -9% -12% -12.3% Consumption Net export Investment Real GDP growth -15% -15% Mar-19 Apr-19 May-19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 Source: Geostat REAL GDP GRWOTH BY MONTH, % CHANGE YOY 12% Source: Geostat's rapid estimates 6.1% 6.4% 8% 3.5% 4% 6.0% 4.7% 5.2% 5.1% 2.2% 4.6% 5.1% 5.0% 5.8% 5.7% -0.7% 3.8% 0% -5.3% -2.7% -5.5% -4% -7.7% -8% -12% -13.5% -16% -20% -16.6% Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 Source: Geostat, Galt & Taggart 99

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