Georgia Capital Regulatory News (CGEO)

London, 3 March 2023

Education business continues to expand

Georgia Capital PLC (the "Group" or "Georgia Capital") announces the expansion of its K-12 education business through two investment projects: (1) the acquisition of a new campus in the affordable segment, and (2) the signing of a binding agreement for the acquisition of a land plot for the expansion of an operational campus in the premium and international segment.

(1) The new campus in the affordable segment has a capacity of 1,200 learners and currently provides education to 310 learners. Following the planned rebranding, starting from the 2023-2024 academic year, it will operate under the existing affordable brand in the Group's portfolio - "Green School". The project is in line with Georgia Capital's capital allocation programme, targeting the expansion of the affordable segment in the education business.

The new campus is located in Saburtalo district, one of the densely populated urban areas in central Tbilisi with a considerable surrounding residential area. It has c.6,000 sq.m. building facilities and a 1.1ha land plot.

With this investment, the education business will expand from its current built capacity of 5,650 learners to 6,850 learners, while the built capacity of the affordable segment will increase from 3,500 learners to 4,700 learners. The number of "Green School" campuses will increase from 3 to 4.

(2) The land plot is located adjacent to the operational campus of our premium and international schools. This acquisition, once completed, will increase the total pipeline capacity for 2025 by 350 learners, in total from 2,410 learners to 2,760 learners, of which, the pipeline capacity of the premium and international schools will increase from the current 1,200 learners to 1,550 learners.

Irakli Gilauri, Georgia Capital Chairman and CEO commented: "I am pleased to announce these successful projects in Georgia Capital's education business. With these acquisitions, we are further expanding our private K-12 education business, where we see attractive opportunities for a scaled player. I look forward to working with our management teams to make our top-class educational services accessible on a larger scale."

Name of authorised official of issuer responsible for making notification: Giorgi Alpaidze, Chief Financial Officer

About Georgia Capital PLC

Georgia Capital is a platform for buying, building and developing businesses in Georgia with holdings in sectors that are expected to benefit from the continued growth and further diversification of the Georgian economy. The Group's focus is typically on larger-scale investment opportunities in Georgia, which have the potential to reach at least GEL 300 million equity value over 3-5 years from the initial investment and to monetise them through exits, as investments mature. Georgia Capital currently has the following portfolio businesses: (i) a retail (pharmacy) business, (ii) a hospitals business, (iii) an insurance business (P&C and medical insurance); (iv) a clinics and diagnostics business, (v) a renewable energy business (hydro and wind assets) and (vi) an education business; Georgia Capital also holds other small private businesses across different industries in Georgia; a 20.0% equity stake in the water utility business and a 20.6% equity stake (at 31-Dec-22) in LSE premium-listed Bank of Georgia Group PLC ("BoG"), a leading universal bank in Georgia.

 For further information, please visit www.georgiacapital.ge or contact:

This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities