3Q23 & 9M23 Performance Overview

INCOME STATEMENT | 3Q23 & 9M23 Income statement GEORGIA CAPITAL GEL '000, unless otherwise noted 3Q23 Dividend income 41,876 3Q22 32,019 Change 9M23 9M22 Change 30.8% 128,379 66,440 93.2% Buyback dividend 11,785 NMF 73,356 NMF Interest income 4,304 8,165 -47.3% 14,296 26,315 -45.7% Realised/unrealised gain/(loss) on liquid funds (3,430) (1,719) NMF (2,348) (13,154) NMF Interest expense (12,031) (16,573) -27.4% (38,782) (54,253) -28.5% Gross operating income/(loss) 42,504 21,892 94.2% 174,901 25,348 NMF Operating expenses (8,802) (9,821) -10.4% (27,973) (29,521) -5.2% GCAP net operating income/(loss) 33,702 12,071 NMF 146,928 (4,173) NMF Fair value changes of portfolio companies Listed and observable portfolio companies 209,363 142,450 47.0% 265,746 (69,409) NMF Bank of Georgia Group PLC Water Utility 209,363 142,450 47.0% 261,746 (83,017) NMF NMF 4,000 13,608 -70.6% Private portfolio companies Large Portfolio Companies (88,102) (4,563) NMF (10,095) (292,391) -96.5% (94,155) (25,140) NMF (36,745) (189,065) -80.6% Of which, Retail (pharmacy) (44,619) 6,209 NMF (45,904) (33,147) 38.5% Of which, Hospitals (44,549) (45,819) -2.8% (51,955) (141,588) -63.3% Of which, Insurance (P&C and Medical) (4,987) 14,470 NMF 61,114 (14,330) NMF Investment Stage Portfolio Companies (8,955) 5,965 NMF 7,842 (13,254) NMF Of which, Renewable energy 12,989 1,768 NMF 28,320 (234) NMF Of which, Education (13,473) 7,286 NMF (4,302) 28,028 NMF Of which, Clinics and Diagnostics (8,471) (3,089) NMF (16,176) (41,048) -60.6% Other businesses 15,008 14,612 2.7% 18,808 (90,072) NMF Total investment return 121,261 137,887 -12.1% 255,651 (361,800) NMF Income/(loss) before foreign exchange movements and non- 154,963 149,958 3.3% 402,579 (365,973) NMF recurring expenses Provision (103) 1,113 NMF Net foreign currency loss/(gain) (6,067) 11,024 NMF Non-recurring expenses (439) (82) NMF (145) 6,605 (1,759) 402 NMF 26,183 -74.8% (278) NMF Net income/(loss) (adjusted IFRS) 148,354 162,013 -8.4% 407,280 (339,666) NMF 96 96

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