Investor Presentaiton

Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 4.8% 2.4% 1.6% 1.5% GEL supported by sustained FX inflows Currency movements vs. US$, 12/31/2022 - 2/29/2024 -0.2% -2.4% -3.5% -11.2% -23.6% -29.7% -66.7% GBP KZT GEL EUR AZN AMD UAH UZS RUB BYN TRY GEL real effective exchange rate 140 140 REER (Jan 2014 = 100) 130 REER 3-year moving average 130 120 120 110 110 100 100 90 90 80 80 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Source: NBG Note: +/- means appreciation/depreciation of the corresponding currencies. Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Oct-23 Jan-24 Despite some interim volatility, GEL remained broadly unchanged against USD in 2023, after a 12.5% appreciation in 2022 In the medium term, GEL is expected to remain stable backed by resilient external inflows and a positive growth outlook Previous real appreciation versus trading partners started to reverse due to lower inflation in Georgia 8

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