01 02 Governance 03 04 Further details of fixed and discretionary contingent deferred share compensation granted during 2018 (audited) The following table sets out details of the nil-cost options over GHG shares which have been granted to Mr Gamkrelidze in 2018 in respect of the year ended 31 December 2017. Deferred share salary Discretionary deferred share compensation Number of underlying shares and basis on175,000 granted on the basis described in the122,900 granted on the basis described in the which award was made table in section 4.2 and section 4.2(a) of the table in section 4.2 and section 4.2(b) of the 2016 Policy available at. 2016 Policy available at. http://ghg.com.ge/annual-reports. http://ghg.com.ge/annual-reports. Type of interest Nil-cost option Nil-cost option Cost to Group US$202,6991 US$575,3692 Face value US$452,0221 US$575,3692 Cash payments equal to the dividends paid on the underlying shares will be made upon vesting (if applicable). Percentage of award receivable 100% of the award will be receivable, since 100% of the award will be receivable, since the if minimum performance achieved the award is part of an Executive Director’s award is based on 2017 performance (and this is salary set out in the service contract and not a LTIP award) and accordingly is not subject accordingly is not subject to performance to performance measures or targets over the measures or targets over the vesting period. vesting period. Exercise price Nil. The options form part of the Executive Nil. The options form part of the Executive Director’s salary under the policy and so no Director’s salary under the policy and so no payment is required upon exercise. payment is required upon exercise. Vesting period 20% in each of 2019, 2020 and 2021 and 33% in each of 2019, 2020 and 2021. 40% in 2022. Performance measures None. See section 4.2(a) of the 2016 Policy See section 3.2 above and section 4.2(b) available at http://ghg.com.ge/annual-reports. of the 2016 Policy available at http://ghg.com.ge/annual-reports. Notes: 1 Cost to the Group is calculated using the value of US$1.16 per GHG share based on the EY valuation report dated 1 April 2015. For face value, the value attached to each GHG share is the share price as of 12 November 2015, the date of admission to listing, as described in Note 2 to the table in section 3.1 of the 2016 Annual Report available at http://ghg.com.ge/annual-reports. 2 Figures calculated as described in Note 3 to the table in section 3.1 of the 2017 Annual Report available at: http://ghg.com.ge/annual-reports. Percentage change in the remuneration of the Chief Executive Officer The following table sets out details of the percentage change in the remuneration awarded to the CEO between 2017 and 2018, compared with the average percentage change in the per capita remuneration awarded to the Group’s employees as a whole between 2017 and 2018. See section 3.1 for an explanation of cash salary, deferred share salary, taxable benefits and discretionary deferred compensation of Mr Gamkrelidze. Average percentage change for the Group’s employees Percentage change as a whole (excluding for the CEO between Mr Gamkrelidze) between 2017and 2018 2017 and 2018 Total cash salary 0% 4.9% Total deferred share salary 0% 0% Taxable benefits -82.9% -8.4% Total bonus (discretionary deferred share compensation, in the case of Mr Gamkrelidze, and deferred discretionary share compensation plus cash bonus, in the case of other employees of the Group) -41.2% 16.2% 103