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Investor Presentation

ALDAGI Healthcare expenditure 3Y CAGR 12.2 % Total healthcare expenditure | GEL min 1,819 2,096 2,569 2,292 HEALTHCARE MARKET IN GEORGIA Less than 6% of GDP on in- &-outpatient spending Healthcare expenditure as % of GDP 10.1% 10.1% 9.4% 9.8% 925 871 839 3.6% 646 4.0% 3.6% 3.5% 1,071 1,090 1,284 1,490 6.0% 5.3% 5.3% T T ! 2009 L 2010 In & outpatient L2011 Pharmacy 2012E__ I 2009 L Other 99% of hospitals privately owned entities Number of beds 13,600 * Includes, 996 beds of penitentiary institutions 2010 L 5.7% I 2011 2012E L ■In & outpatient ■Pharmacy ■Other Spending per capita still very low Spending per Capita | GEL 12,800 12,100 11,500* 571 511 471 419 2009 2010 2011 2012 Source: Ministry of Labor, Health and Social Affairs of Georgia | Aldagi estimate 2009 2010 2011 2012E 11 |
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