1Q20 Results Discussion

Georgia Capital's response to COVID-19 Cash accumulation and preservation is our key priority during the global COVID-19 pandemic Limited capital allocations at GCAP level, only critical investments throughout the remainder of 2020, if any GEORGIA CAPITAL Minimising capital investments at each portfolio company level Optimising Opex expenditures both at GCAP and at portfolio companies level Looking ahead, the range of possible outcomes remains wide and these uncertainties call us to be very disciplined and attentive to developments in our portfolio Page 7

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