Investor Presentaiton

Aldagi - P&C insurance business performance highlights Profit (GEL '000) Earned Premium, gross (GEL '000) Earned Premium, gross | Composition +7.7% y-o-y GEL 20 mln 21,891 18,520 19,950 8,478 6,921 8,027 40% Government, 2% Other, 12% Credit Life, 13% Motor, 37% Liability, 12% Retail, 40% 11,599 13,413 11,924 60% Corporate, 58% 1Q17 4Q17 1Q18 Property, 26% Corporate Retail Total Combined Ratio ROAE flat y-o-y 73% -6ppt y-o-y 31% 78% 73% 72% 37% 35% 31% 1Q17 4Q17 1Q18 35% 34% 32% 39% 43% 41% 1Q17 4Q17 1Q18 ■Loss Ratio Expense Ratio Combined Ratio Stable dividend payout within 40% -60% range GEORGIA CAPITAL +4.1% y-o-y GEL 3.9mln 3,750 4,169 3,902 1,283 1,955 1,982 51% 2,467 2,214 1,920 49% 1Q17 4Q17 1Q18 Corporate Retail Total 1Q18 Retail segment growth (premiums earned) Retail Segment Concentration in portfolio Retail profit growth 16% 40% (+3ppt y-o-y) 54% Market Share 38% (+3ppt y-o-y) Corporate 81% Renewal Ratio Retail 57% Page 51

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