Investor Presentaiton

17 Private large portfolio companies EXTERNALLY VALUED HEALTHCARE SERVICES BUSINESS OVERVIEW (CONT'D) HOSPITALS Bed occupancy rate CLINICS Number of referral hospitals Average length of 4.9 5.2 5.5 stay 19 15 5.4 5.2 5.6 5.2 6.4 Number of community clinics -3.3ppts +3.6ppts 2,596 80% 63.0% 353 Number of referral hospital beds 61.6% 59.3% 60.1% 56.4% 56.5% 54.7% 60% 53.1% KGEL 89.5 Number of community clinics beds 40% Revenue per referral bed 20% 2015 2016 2017 2018 2019 2020 4Q19 4Q20 FY20 CASH FLOW HIGHLIGHTS GEL 81.0m +35.7% y-o-y Operating cash flow¹ 130.9% +51.1ppts y-o-y EBITDA to cash conversion¹ GEL 83.5m +258.6% y-o-y Free cash flow¹ GROSS REVENUE² EBITDA¹ GEORGIA CAPITAL Number of polyclinics 518,000 Number of registered patients Gross profit margin (%) 43% 46% 42% 42% 43% 39% 43% 37% EBITDA margin (%)¹ 27% 30% 26% 25% 26% 22% 28% 24% CAGR 7.9% 305.6 350 293.0 300 2.9 285.8 GEL million 5.1 265.4 38.3 246.1 14.5 +13.4% 44.4 250 46.7 200 -17.2% 195.0 -1.6% 74.9 85.0 268.3 150 7.8 248.5 232.3 1.7 100 74.3 70.1 76.0 74.7 13.6 53.5 61.8 11.9 21.0 20.7 66.1 63.1 50 2015 2016 2017 2018 2019 2020 4Q19 4Q20 ■Hospitals Clinics Diagnostics 0 2015 2016 2017 2018 2019 2020 4Q19 4Q20 Georgia Capital PLC | General note: 2019 and 2020 numbers are adjusted to exclude HTMC hospital, sold in August 2020. 1.Excluding IFRS 16 impact. 2. Sum of segments revenue does not reconcile to total revenue due to eliminations. 44

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