Investor Presentaiton

Beer business BEER MARKET OVERVIEW GEORGIA HAS SIGNIFICANT ROOM TO GROW BEER CONSUMPTION PER CAPITA VS. PEER COUNTRIES Ranking by absolute growth of per capita consumption 2010-2019 #7 #39 #8 #16 #6 #99 #96 #68 #97 #18 #75 #54 GEORGIA CAPITAL GEORGIAN BEER MARKET IS GROWING ON THE BACK OF INCREASED CONSUMPTION AND PREMIUMIZATION TREND Volume Value Liters per capita 94 24 99 89 Poland Romania Croatia 77 71 69 59 Spain Hungary Estonia Russia Belarus Ukraine Georgia 62 62 54 50 42 25 11 63 24 Turkey Azerbaijan 6 Eastern Europe Global average HL '000 2015 987 1.9% CAGR 2020 1,083 GEL mln 2015 147 Georgia has lower beer consumption per capita at 25 liters per year, compared to peer countries, indicating that there is a room for further growth ➤ Consumption per capita in Georgia has been growing at 3.8% CAGR '2010-2019, while global consumption has been flat for the same period making Georgia #18 fastest growing market in the world in terms of beer consumption per capita ➤ Georgian beer market is dominated by locally produced Georgian and licensed international beer brands, holding 90%+ of total local beer market 9.5% CAGR 2020 231 95 Source: Euromonitor; Revenue Services Georgia

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