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Investor Presentaiton

GROWTH-ORIENTED REFORMS ECONOMIC FREEDOM INDEX | 2022 Estonia Lithuania. Source: Heritage Foundation EASE OF DOING BUSINESS | 2020 New Zealand 1 Singapore Denmark USA Georgia UK Norway Lithuania Estonia 6189 11 18 Source: WB-IFC Doing Business Report #1 in Europe and Central Asia Latvia Czech Rep. UK USA Georgia Bulgaria Poland Latvia Germany Kazakhstan Russia Turkey Azerbaijan Poland Czech Rep. Armenia Ukraine 19 22 25 28 33 34 40 41 47 Romania Hungary France Italy Armenia Kazakhstan Azerbaijan Turkey Russia Ukraine 64 7 17 18 16 24 25 26 29 39 47 18 52 48 18th among 45 countries in the European region 57 58 64 75 107 113 130 42 GLOBAL CORRUPTION BAROMETER | 2017 Germany Georgia Poland Czech Rep. Slovakia Latvia Montenegro Bulgaria Turkey Lithuania Armenia Bosnia & Herz. Romania Kazakhstan Russia Ukraine Azerbaijan Moldova 3% Source: Transparency International 7% 7% % admitting having paid a bribe last year 9% 19 12% 23 15% Georgia is on par with 24 BUSINESS BRIBERY RISK | 2021 Norway 2 Sweden UK Estonia Singapore USA Lithuania 3 97 11 Source: Trace International 16% the EU member states France 26 17% Georgia 29 18% Latvia 31 24% Czech rep. 39 Poland 24% 46 Armenia 67 47 27% Bulgaria 71 29% 29% 34% 38% Ukraine Kazakhstan Turkey Russia 104 127 129 134 38% Azerbaijan 140 42% Uzbekistan 147
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