Investor Presentaiton

Distribution business GDL INCOME STATEMENT INCOME STATEMENT CAGR GEL thousands; unless otherwise noted 1H20 1H21 Change FY18 FY19 FY20 '18-20 Revenue 41,606 47,350 13.8% 24,896 80,254 94,581 94.9% COGS (35,439) (39,513) 11.5% (19,644) (66,397) (80,709) NMF Gross Profit 6,167 7,837 27.1% 5,252 13,857 13,872 62.5% Gross Profit Margin 14.8% 16.6% 1.7 ppts 21.1% 17.3% 14.7% -6.4 ppts Salaries and other employee benefits (2,761) (3,873) 40.3% (2,506) (7,242) (6,326) 58.9% Sales and marketing expenses (30) (40) 33.3% (190) (128) (128) 17.9% General and administrative expenses (990) (713) -28.0% (1,027) (1,334) (1,769) 31.2% Distribution expenses (1,220) (1,488) 22.0% (968) (3,427) (2,581) 63.3% Other operating expenses (51) (27) -47.1% 64 (1,391) (95) EBITDA 1,115 1,696 52.1% 625 335 2,973 NMF 118.1% EBITDA margin 2.7% 3.6% 0.9 ppts 2.5% 0.4% 3.1% 0.6 ppts Depreciation and amortization (871) (859) -1.4% (791) (1,635) (1,750) 48.7% Net interest income/expense (166) (124) -25.3% (1) (160) (235) NMF Net foreign currency gain (loss) (122) 70 NMF (30) (5) (153) 125.8% Net non-recurring items NMF NMF Net profit/(loss) before income tax (44) 783 NMF (197) (1,465) 835 NMF Net profit/(loss) (44) 783 NMF (197) (1,465) 835 NMF GEORGIA CAPITAL 117

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