Georgia Capital Financial Highlights

Beverages business financial highlights Income statement Balance sheet (Wine business) GEORGIA CAPITAL Balance sheet (Beer business) GEL thousands, unless otherwise noted FY19 FY18 Change GEL thousands, unless otherwise noted Dec-19 Dec-18 change GEL thousands, unless otherwise noted Dec-19 Dec-18 change Wine Business 45,115 31,104 45.0% Cash and cash equivalents 5,230 Beer Business 55,901 29,288 90.9% Amounts due from financial institutions 994 Distribution Business 23,689 15,822 49.7% Accounts Receivable 14,269 Revenue 124,705 76,214 63.6% Prepayments & Other Assets 2,748 Wine Business Beer Business (38,271) (23,553) (15,199) (19,190) 55.0% Inventory 28,174 8,380 -37.6% 930 6.9% 12,409 15.0% 985 18,979 Cash and cash equivalents 2,543 1,244 NMF Amounts due from financial institutions 8 NMF Accounts Receivable 7,912 2,161 NMF 99.4% Intangible Assets, Net 270 Distribution Business (18,525) (12,571) 47.4% Goodwill 10,803 333 3,136 NMF 48.4% -18.9% Prepayments & Other Assets 4,489 4,998 -10.2% Inventory 12,113 6,618 83.0% Intangible Assets, Net 8,722 631 NMF NMF Goodwill 2,226 2,226 NMF COGS Gross Profit (80,349) (46,960) 71.1% Property and Equipment, Net 44,356 29,254 51.6% Total Assets Gross Profit Margin 35.6% 38.4% -2.8ppts Accounts Payable Salaries and other employee benefits (21,598) (14,195) 52.2% Borrowings 57,138 119,626 77,385 4,342 49,373 32,233 77.3% Property and Equipment, Net 70,249 98,267 -28.5% 54.6% 5,894 -26.3% Total Assets 108,254 116,153 -6.8% Accounts Payable 10,491 9,530 10.1% 49,857 -1.0% Borrowings 88,973 68,096 30.7% Sales and marketing expenses (4,178) (6,426) -35.0% Other Current Liabilities General and administrative expenses (8,268) (7,913) 4.5% Total Liabilities Distribution expenses (6,749) (4,883) 38.2% Total equity Other operating expenses (1,141) (2,278) -49.9% Total liabilities and equity 4,188 3,658 57,903 59,409 61,723 17,976 119,626 77,385 14.5% Other Current Liabilities 2,933 2,310 27.0% -2.5% Total Liabilities 102,397 79,936 28.1% NMF 54.6% Total equity 5,857 36,217 -83.8% Total liabilities and equity 108,254 116,153 -6.8% EBITDA 2,422 (6,441) NMF wine EBITDA 8,731 7,151 22.1% beer EBITDA (6,450) (13,754) -53.1% distribution EBITDA 335 625 -46.4% Net foreign currency gain (loss) (3,418) (1,879) 81.9% Depreciation and amortization (16,327) (11,882) 37.4% Net interest income/expense (12,856) (7,085) 81.5% Net non-recurring items (25,717) (1,886) NMF (Loss) profit before income tax (Loss) Profit (55,896) (29,173) 91.6% (55,896) (29,173) 91.6% Page 92

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