Investor Presentaiton

Kazakhstan Estonia Latvia 3.2% 3.4% 3.6% 3.6% Germany Lithuania Russia Poland Italy Total factor productivity 1.8% REAL GDP GROWTH PROJECTION, 2021 Turkey Spain UK USA Labor force 0.1% CAPITAL AND PRODUCTIVITY HAVE BEEN THE MAIN ENGINES OF GROWTH SINCE 2004 OVERALL CONTRIBUTION OF CAPITAL, LABOR, AND TOTAL FACTOR PRODUCTIVITY (TFP) TO GROWTH, 2010-2020 CONTRIBUTIONS OF CAPITAL, LABOR, AND TFP TO GROWTH DURING PERIODS 45 Source: Geostat, Galt &Taggart Source: Geostat, Galt &Taggart 10% 8% 6% Capital stock 2.0% 4% 2% 0% -2% 2004-2007 Source: IMF 10% 7.7% 8% Georgia 7.0% 7.0% 5.8% 6.2% Middle East & Central Asia 6% 4.4% 4.4% 4.6% 4.9% 4% 2% 0% -2% Emerging & Developing EU -4% -6% Georgia -8% 2010 2011 2012 2013 2014 2015 2016 2017 2018 REAL GDP GROWTH: GEORGIA, MIDDLE EAST AND CENTRAL ASIA, EMERGING & DEVELOPING EU 2019 2020 2021F 2020F 2023F 2024F 2025F 2026F 2008-2009 2010-2015 2016-2020 TFP Labor force Capital stock Source: IMF

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