FY20 Results and Strategy Overview

NAV PER SHARE (GEL) MOVEMENT IN FY20 GEORGIA CAPITAL NAV PER SHARE CHANGE % -3.8% 13.6% 13.7% 5.6% -12.4% 0.1% -1.8% -12.3% 2.7% 2.7% NAV PER SHARE GROWTH 2.64 6.40 6.39 46.84 • 7.7 million CGEO shares were issued (1.77) as part of GHG Externally valued transaction 0.06 (5.80) (0.86) 48.12 (5.78) NAV per share 31-Dec-19 BOG GHG transaction impact Large portfolio companies1 Investment stage portfolio Other portfolio companies Buyback Operating expenses Liquidity manag./FX/ Other NAV per share 31-Dec-20 companies Georgia Capital PLC | 1. Subsequent revaluation of GHG businesses in 4Q20 is included in "large portfolio companies". 29 29

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