3Q23 & 9M23 Performance Overview

NAV STATEMENT | 9M23 2a. GEL thousands unless otherwise noted 31-Dec-22 1.Value Creation Investments and Divestments 2b. Buybacks 2c. Dividends 3.Operating Expenses 4. Liquidity Management/ FX / Other 30-Sep-23 Change % Listed and Observable Portfolio Companies BOG Water Utility 830,463 387,939 (126,193) 1,092,209 31.5% 155,000 Listed and Observable Portfolio Value 985,463 4,000 391,939 159,000 2.6% Listed and Observable Portfolio value change % 39.8% 0.0% 0.0% (126,193) -12.8% 1,251,209 27.0% 0.0% 0.0% 27.0% Private Portfolio Companies Large portfolio companies 1,437,610 33,610 (70,355) 2,059 1,402,924 -2.4% Retail (pharmacy) 724,517 5,000 (50,904) 632 679,245 -6.2% Hospitals 433,193 (45,937) (6,018) 632 381,870 -11.8% Insurance 279,900 74,547 (13,433) 795 341,809 22.1% Of which, P&C Insurance 228,045 47,389 (8,418) 795 267,811 17.4% Of which, Healthcare Insurance 51,855 27,158 (5,015) 73,998 42.7% Investment stage companies 501,407 13,029 16,253 (5,187) 2,306 527,808 5.3% Renewable energy 224,987 33,507 5,718 (5,187) 1,785 260,810 15.9% Education 164,242 (4,302) 10,535 381 170,856 4.0% Clinics and diagnostics 112,178 (16,176) 140 Others 274,147 18,808 32 4,278 96,142 297,265 -14.3% 8.4% Private Portfolio Value 2,213,164 65,447 16,285 (75,542) 8,643 2,227,997 0.7% Private Portfolio value change % 3.0% 0.7% 0.0% Total Portfolio Value 3,198,627 457,386 16,285 Total Portfolio value change % 14.3% Net Debt (380,905) of which, Cash and liquid funds 411,844 0.5% (19,422) (19,422) 0.0% (53,994) (53,994) -3.4% (201,735) -6.3% 201,735 201,735 0.0% 0.4% 0.7% 8,643 3,479,206 8.8% 0.0% 0.3% 8.8% (16,327) (25,272) (294,185) -22.8% (16,327) (423,480) 100,356 -75.6% of which, Loans issued of which, Gross Debt Net other assets/ (liabilities) Share based compensation Net Asset Value NAV change % Shares outstanding 26,830 (17,925) 8,905 -66.8% (819,579) 416,133 (403,446) -50.8% (331) 3.137 (11,647) 11,500 2,659 NMF (11,647) 11,647 0.0% 2,817,391 457,386 16.2% 0.0% 42,973,462 (53,994) -1.9% (2,151,848) (27,974) (5,129) 3,187,680 13.1% 0.0% -1.0% -0.2% 13.1% 580,136 Net Asset Value per share 65.56 10.64 0.00 2.13 0.00 (0.65) (0.70) 41,401,750 76.99 -3.7% 17.4% NAV per share change % 16.2% 0.0% 3.3% 0.0% -1.0% -1.1% 17.4% Net Asset Value per share (GBP) 20.12 3.21 0.00 0.64 0.00 (0.20) (0.33) 23.44 16.5% NAV per share (GBP) change % 15.9% 0.0% 3.2% 0.0% -1.0% -1.7% 16.5% GEORGIA CAPITAL 95

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