INVITATION FOR EXPRESSIONS OF INTEREST IN THE ACQUISITION OF AN 85% EQUITY INTEREST IN JSC GUDAURI

The Government of Georgia (the “Government”) invites international and local investors to submit expressions of interest for the purchase of 84.7% equity interest in JSC Gudauri (“Gudauri”), the owner of a ski-in/ski-out hotel, located in the Kazbegi region of Georgia, 120 km away from Tbilisi international airport, at the altitude of 2,000-3,275 meters from the sea level. The Gudauri hotel is located in the heart of the eponymous ski resort in Georgia, which is set in a spectacular location high in Greater Caucasus. Southern exposure of Gudauri resort ensures plenty of sunshine and its altitude and location offer great snow conditions from November through May. The Greater Caucasus is the highest mountain range in Europe. Heliskiing is one of most distinctive offerings in Gudauri, that provides skiers with access to some of the finest powder-snow in the Caucasus.