Renewable Energy Business Overview

NAV PER SHARE (GEL) MOVEMENT IN 3Q21 NAV PER SHARE CHANGE % NAV PER SHARE GEORGIA CAPITAL +2.6% +7.3% -0.4% +0.1% +0.4% -0.3% NMF +9.7% 3.98 0.05 0.22 0.00 59.77 1.42 (0.20) (0.19) 54.48 • • • (GEL) UP 9.7% IN 3Q21 NAV per share (GBP) up 13.7% in 3Q21 9.7% growth in 3Q21 NAV per share (GEL) mainly reflects value creation across our resilient private portfolio and a 15.6% increase in BoG share price. 354,000 shares with a total value of US$ 3.0 million were repurchased in 3Q21 289,582 shares with a total value of US$ 2.4 million were repurchased in 4Q21 as of 12 November 2021 NAV per share 30-Jun-21 BOG Large portfolio companies Investment stage portfolio companies Other portfolio Buybacks companies Operating expenses Liquidity manag./FX/ Other NAV per share 30-Sep-21 32

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