Portfolio Overview & Capital Allocation

AGGREGATED EBITDA DEVELOPMENT ACROSS PRIVATE PORTFOLIO IN 4Q20 AND FY20 GEORGIA CAPITAL AGGREGATED EBITDA UP 1.0% Y-O-Y IN 4Q20 AND UP 4.1% IN FY20 CHANGE (Y-O-Y) +16.4% -2.9% +4.5% +1.0% GEL MILLION 87 82 61 8 192 61 13 13 133 12 280 +4.1% 292 5 32 17 53 44 62 60 60 259 219 1Q20 2Q20 3Q20 4Q20 FY19 FY20 41 ■Large portfolio companies Investment stage portfolio companies Other portfolio companies Total 34

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