X0306 4 2020-11-02 0 0001743725 GRID DYNAMICS HOLDINGS, INC. GDYN 0001805694 Zhang Shuo C/O GRID DYNAMICS HOLDINGS, INC. 5000 EXECUTIVE PARKWAY, SUITE 520 SAN RAMON CA 94583 1 0 0 0 Common Stock 2020-11-02 4 A 0 1747 0.00 A 20551 D Common Stock 139655 I See footnote These securities are fully vested restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Common Stock. As previously reported, these restricted stock units were granted in lieu of individual quarterly cash retainer payments for Board service for the Issuer that the Reporting Person would have otherwise received pursuant to the Issuer's Outside Director Compensation Policy. The shares are held of record by Renascia Fund B LLC, for which the Reporting Person serves as a managing partner and chief executive officer. /s/ Anil Doradla, by power of attorney 2020-11-04