Georgia Capital Portfolio Overview

CGEO:LN performance 6.1% 6.5% LSE premium listed, with more than 90% institutional shareholder base GCAP shareholders allocation by geography 22.6% O 7.8% ■ USA 27.7% ■ UK/Ireland 29.4% ■Luxembourg ■Scandinavia Number of outstanding shares as at 30-Jun-19 39,384,712 2,000,000 1,423,309 35,961,403 GEORGIA CAPITAL As of 14 August 2019 Cancellation of Unawarded shares, Number of shares shares Average daily trading volume - GBP 1.2 (million) Market Capitalization GBP 377.2 (million) Number of shares issued in May 2018 management trust outstanding ■Management* ■ other Rank GCAP top shareholders | 30-Jun-2019 Shareholder name Ownership 1 M&G Investment Management Ltd 8.17% Includes both vested and unvested awarded shares GBP 22.00 Average analyst value per share 18.83 17.62 17.00 17.12 GCAP share price 12.00 7.00 GCAP share price May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 2 Schroder Investment Management Ltd 4.94% Historical GCAP share price vs. Average analyst value per share 3 Aberdeen Standard Investments 4.85% 4 LGM Investments Ltd 4.09% 5 Norges Bank Investment Management 3.43% 16.59 17.00 6 Consilium Investment Management LLC 3.36% 16.70 16.79 16.53 7 Vanguard Group Inc 3.20% 8 Dunross & Co AB (including UBS) 3.01% 9 Van Eck Global 2.96% Jul-19 Aug-19 10 Dimensional Fund Advisors 2.81% Total 40.82% Average analyst value per share Page 5

View entire presentation