3Q23 & 9M23 Performance Overview

PORTFOLIO VALUE AS OF 30-SEP-23 91% OF OUR PORTFOLIO IS VALUED EXTERNALLY1 % SHARE IN TOTAL PORTFOLIO VALUE: 31% GBP 36.90 9% 36% GEORGIA CAPITAL BGEO PRICE ON LSE 5% OPTION VALUATION² 20% 11% 10% 7% MULTIPLE: 9.1x LTM EV/EBITDA³ 12.5x LTM EV/EBITDA³ 11.8x-9.3x LTM P/E4 12.5x EV/EBITDA5 5% 16.5x6 LTM EV/EBITDA 3% 12.8x7 EV/EBITDA³ 9% 1,092 297 679 15% 528 1,251 GEL MILLION 382 342 297 261 PORTFOLIO 171 BREAKDOWN 159 96 GEL 3,479 MILLION Q & 00 Ⅲ BOG Water Utility Retail (Pharmacy) Hospitals Insurance (P&C & Medical) Renewable Energy Education Clinics and diagnostics Other 1,403 40% LISTED AND OBSERVABLE LARGE PORTFOLIO COMPANIES INVESTMENT STAGE PORTFOLIO COMPANIES Listed and observable Investment stage ■Large Other Georgia Capital PLC | 1. The independent valuations of the large and investment portfolio companies are performed on a semi-annual basis. In 3Q23, our private large and investment portfolio companies were valued internally by incorporating 3Q23 results, in line with IPEV guidelines and methodology deployed in 1H23 by a third-party independent valuation firm. 2. The valuation of Water Utility in 3Q23 reflects the application of the put option valuation to GCAP's 20% holding in the business. 3. LTM EV/EBITDA multiples for Retail (Pharmacy), Hospitals and Clinics & Diagnostics are presented including IFRS 16 as of 30-Sep-23. 4. LTM P/E multiple of 11.8x for P&C insurance and LTM P/E multiple of 9.3x for medical insurance business as at 30-Sep-23. 5. Blended multiple for the operational assets of Renewable Energy is 12.5x, while other pipeline projects are stated at cost. 6. The forward-looking implied valuation multiple is estimated at 11.2x for the 2023-2024 academic year. 7. The forward-looking implied valuation multiple for Clinics & Diagnostics is estimated at 10.1x. 45

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