Tbilisi Energy

^¹ Prepared before the 2022 restatement that put the parent company's bank loans, serviced by Tbilisi Energy, on its balance sheet; debt, equity and interest are not comparable with later years.

^² Income statement prepared before the 2022 restatement that put the parent company's bank loans, serviced by Tbilisi Energy, on its books; interest is not comparable with 2021 onward.

^³ COGS restated for comparability (2019–2025): Gas transportation costs, which the company reports as a separate operating expense, are included in cost of sales so that gross margin is comparable with other gas distributors.

^⁴ Adj. Operating Profit has been adjusted to exclude non-recurring and one-time items. Adj. EBITDA is calculated by adding back D&A expenses to the adjusted operating profit.

^⁵ Total debt includes lease liabilities, where applicable.