Renewable Energy Business Overview

ENHANCEMENT OF OUR STRATEGY AS ANNOUNCED ON 2020 INVESTOR DAY We will be investing in the sectors/opportunities with potential to be GEL 0.5bln in equity value in the next 3-5 years' time Q GEORGIA CAPITAL Larger companies will be attractive for international strategic and financial buyers, which will increase the liquidity of our portfolio companies Management time will be used more efficiently for large opportunities LARGE COMPANIES ATTRACTIVE FOR INTERNATIONAL BUYERS Increased liquidity SMALLER COMPANIES ATTRACTIVE FOR LOCAL & REGIONAL BUYERS Lower liquidity, as access to capital is limited in the region 18

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