Investor Presentaiton

GEL mln Distribution business GDL SALES & PROFITABILITY DYNAMICS 3.8X HIGHER REVENUE IN 2020 VS 2018 Revenue 94.9% CAGR 94.6 24.9 80.3 13.8% 47.4 41.6 2018 2019 2020 H1 2020 H1 2021 IMPROVING GP AND EBITDA MARGINS +0.6ppts -6.4ppts 21.1% 17.3% 14.7% 14.8% 16.6% 2.5% 3.1% 0.4% 2.7% 3.6% EBITDA % Gross Profit % 2018 2019 2020 EH1 2020 E H1 2021 GEL mln PRODUCT PORTFOLIO ENHANCEMENT DRIVES EBITDA GROWTH IN 2021 EBITDA 52.1% GEORGIA CAPITAL 3.0 1.7 1.1 0.6 0.3 2018 2019 2020 H1 2020 H1 2021 Significant increase of GDL revenue (74.6% CAGR in 2018-LTM) was driven by portfolio expansion and addition of beer category in 2019 Fast EBITDA margin recovery in 2020 through addition of high profitability products, after decrease in 2019 due to increased share of lower margin beer sales 115

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