Renewable Energy Business Overview

SOVEREIGN RATINGS WITH FAVOURABLE MACRO FUNDAMENTALS GEORGIA CAPITAL Key Ratings Highlights Rating Agency Rating Outlook Affirmed MOODY'S Ba2 Stable April 2021 S&P Global BB Negative February 2021 Fitch Ratings BB Stable August 2021 Georgia is favorably placed among peers Aw General Facts TURKEY Georgia KAZAKHSTAN Country Country Rating Fitch Rating Outlook Festiva JAMANIA LABYA Armenia B+ Stable Area: 69,700 sq. km Azerbaijan BB+ Stable Population (2020): 3.7 million Capital: Tbilisi; Belarus B Negative Czech Republic AA- Stable Georgia BB Stable Kazakhstan BBB Stable Turkey BB- Stable Ukraine B Positive Economy Life expectancy: 73.5 years Official language: Georgian Literacy: 100% Currency (code): Lari (GEL) Nominal GDP (Geostat) 2020: GEL 49 billion (US$15.9 billion) Real GDP growth rate 2020: -6.2% Real GDP 2011-2020 annual average growth rate: 3.6% GDP per capita 2020 (PPP, international dollar) IMF: 14,920 Annual inflation 2020: 5.2% External public debt to GDP 2020: 47.5% RUSSIA 75

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