Investor Presentaiton

Reconciliation of management accounts to IFRS Income statements reconciliation, FY19 GEORGIA CAPITAL GEL '000, unless otherwise noted GHG BOG Water Utility Housing P&C Development Insurance Renewable Energy Hospitality and Commercial RE Beverages Auto Service Digital Services Other Corporate Center Inter- Business Eliminations/ Consolidations Group Total Total investment return (203,109) 140,240 52,953 (23,630) 34,399 9,918 (15,017) 17,056 (659) 81,349 93,500 Net foreign currency loss/ non-recurring expenses (21,949) (21,948) Net Income (Investment Basis) (203,109) Difference between Shareholder return and IFRS profit of portfolio companies 226,430 140,240 52,953 (140,240) (17,483) (23,630) 6,834 34,399 9,918 (15,017) 17,056 (659) 59,400 71,551 (16,119) 2,796 5,932 (10,884) (23,625) 264 2,558 36,463 Profit attributable to non-controlling shareholders 38,229 833 (28) (4,782) (160) 125 787 35,004 Gain on change in Investment entity status Reversal of intragroup dividend income Reversal of Hotel revaluation gains for Group consolidation purposes Reversal of Fair valuation of Debt securities measured at FVOCI Reversal of gains on intragroup sale of assets Other Profit for the period (IFRS Consolidated) 588,830 588,830 (97,268) (97,268) (16,517) (16,517) (6,231) (6,231) (3,425) (3,425) (4,141) (4,141) 61,550 35,470 (16,796) 18,280 3,629 15,822 (30,683) (6,729) 389 2,686 648,230 (127,582) 604,266 Balance sheet reconciliation, 31 December 2019 GEL '000, unless otherwise noted GHG BOG Water Utility Housing P&C Development Insurance Energy Renewable Hospitality and Commercial RE Beverages Auto Service Digital Services Other Corporate Center Inter- Business Eliminations/ Consolidations Group Total Fair Value FS Other Transfer of Market value of 19.9% in BoG to Corporate Center Total equity attributable to shareholders of Georgia Capital (IFRS) 430,079 597,735 483,970 43,853 164,923 106,800 245,558 (597,735) 87,119 25,757 8,790 58,499 (499,215) 1,753,868 597,735 (1,847) (1,847) 430,079 483,970 43,853 164,923 106,800 245,558 87,119 25,757 8,790 58,499 98,520 (1,847) 1,752,021 Page 79

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