Update on Wind Power Plants

Georgia Capital PLC (the "Group" or "Georgia Capital") announces that the Government of Georgia has approved the concept of the Group’s renewable energy business’s Wind Power Plant (“WPP”) projects near Tbilisi and Kaspi. The approval represents a significant milestone to obtain Power Purchase Agreements (“PPAs”) from the Government, and these are expected to be finalised in the near future. The Tbilisi and Kaspi Wind Farms, with 108MW installed capacity in aggregate, are expected to have an average capacity factor within the 35% - 40% range. Both projects are planned to be constructed in parallel with expected commissioning date in 2H22.