Notes to Consolidated Financial Statements continued Thousands of Georgian Lari 2. Basis of Preparation continued Subsidiaries and associates continued Proportion of voting rights and ordinary share capital held 31 December 31 December 31 December Country of Date of Date of Subsidiaries 2018 2017 2016 incorporation Address Industry incorporation acquisition JSC Teliani Valley (c) 75.75% 71.66% Georgia 3 Tbilisi highway, Winery 30/6/2000 28/2/2007 Telavi. Teliani Trading (c) 100.00% 100.00% Georgia 2 Marshal Gelovani Distribution 10/1/2006 27/3/2007 (Georgia), LLC St, Tbilisi Teliani Trading (c) 100.00% 100.00% Ukraine 18/14 Khvoiki St, Kiev Distribution 3/10/2006 31/12/2007 (Ukraine), LLC Le Caucase, LLC (c) 100.00% 100.00% Georgia 2 Marshal Cognac 23/9/2006 20/3/2007 Gelovani St, Tbilisi production Kupa, LLC (c) 70.00% 70.00% Georgia 3 Tbilisi Highway, Oak barrel 12/10/2006 20/3/2007 Telavi production Global Beer (c) 100.00% 100.00% Georgia Vazisubani IV M/R, Production and 24/12/2014 – Georgia, LLC I KV, Building N21, distribution of App. N12, Tbilisi alcohol and non-alcohol beverages JSC Liberty (c) 98.28% 98.25% Georgia 74a Chavchavadze Investments 24/5/2006 – Consumer Ave, Tbilisi, 0162 JSC Intertour (c) 99.94% 99.94% Georgia 49a, Chavchavadze Travel agency 29/3/1996 25/4/2006 Ave, Tbilisi, 0162 JSC Prime Fitness (c) 100.00% 100.00% Georgia 78 Chavchavadze Fitness centre 7/3/2006 – Ave, Tbilisi, 0162 Global Coffee (c) 100.00% – Georgia 29a Gagarini street, Coffee 26/12/2016 15/2/2017 Georgia, LLC Tbilisi distribution New Coffee (c) 100.00% – Georgia Tskneti Highway, Coffee 23/9/2009 15/2/2017 Company, LLC №16/18, app. 36 distribution JSC BG Financial 100.00% 100.00% 100.00% Georgia 79 David Agmashenebeli Investment 7/8/2015 – Ave, 0102, Tbilisi JSC Galt & Taggart 100.00% 100.00% 100.00% Georgia 79 David Agmashenebeli Brokerage 19/12/199528/12/2004 Ave, 0102, and asset Tbilisi management “BG Kapital” JSC 100.00% 100.00% 100.00% Azerbaijan 1C Mikayil Mushvig, Representative 28/12/2013 – Branch Office in Kempinski Hotel office Azerbaijan Badamdar, 6 floor, Yasamal.th AZ1006, Baku Galt & Taggart 100.00% 100.00% 100.00% Cyprus Arch. Makariou III 58, Investments 3/7/2006 – Holdings Limited IRIS TOWER, 8-th floor, Flat/ Office 702 P.C. 1075, Nicosia BG Capital 100.00% 100.00% 100.00% Belarus 5A-3H, K.Chornogo lane, Brokerage 19/2/2008 – (Belarus), LLC Minsk, 220012 JSC Polymath 100.00% – – Georgia 79 David Agmashenebeli Digital 8/6/2018 – Group Ave, 0102, Tbilisi, Georgia Solo, LLC 100.00% 100.00% 100.00% Georgia 79 David Agmashenebeli Trade 22/4/2015 – Ave, 0102, Tbilisi 184 Annual Report 2018Bank of Georgia Group PLC