Investor Presentaiton

Steady improvements in the inflation outlook enabling the central bank to continue cutting interest rate Inflation and monetary policy rate -Monetary policy rate Annual CPI inflation -Inflation target 16% 16% Annual 14% 5-year average Jan-24 Feb-24 14% Headline CPI 6.8% 0.0% 0.3% 12% 12% Core CPI 4.7% 1.2% 2.4% 10% 10% 8% 6% 4% 2% 0% -2% Mar-14 Jul-14 Nov-14 Mar-15 Jul-15 Nov-15 Mar-16 Jul-16 Nov-16 Mar-17 Jul-17 Nov-17 Mar-18 Jul-18 Nov-18 Mar-19 Jul-19 Source: Geostat, NBG Nov-19 Mar-20 Jul-20 Nov-20 Mar-21 Jul-21 Nov-21 Mar-22 Jul-22 Nov-22 Mar-23 Jul-23 Nov-23 Mar-24 8% 8.25% 6% 4% 2% 0% -2% Inflation is expected to remain low amid and decreasing domestic price pressures falling import prices The National Bank of Georgia cut the policy rate by 0.75 percentage points on 13 March 2024, thereby reducing the refinancing rate to 8.25% Additional interest rate cuts are expected in 2024 amid improved inflation outlook 7

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