Investor Presentaiton

600 400 200 0 -200 -400 009- -800 Jan-19 Feb-19 Mar-19 Oct-19 Trade deficit, US$ mn 500 400 300 200 100 0 -100 -200 -300 -400 Jan-19 Feb-19 Mar-19 Apr-19 STRONG GROWTH OF EXPORTS EXPORTS UP 25.2% Y-0-Y IN 1H21 Dec-19 Jan-20 Feb-20 Exports, US$ mn % change y/y TRADE DEFICIT UP 14.5% Y-o-Y IN 1H21 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jan-19 Feb-19 IMPORTS UP 18.9% YoY IN 1H21 Source: Geostat Source: Geostat 80% 1,000 75% 800 60% 60% 600 45% 40% 400 37.5% 30% 200 O 0% -200 -20% -400 -40% -600 15% 0% -15% -30% -45% Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Source: Geostat 43.3% 60% 40% Imports, US$ mn EXPORTS BY COMMODITY, 1H21 Copper 20.7% % change y/y 20% Other 37.0% 0% -20% Cars 10.9% -40% -60% Nuts 1.9% Ferro-alloys -80% 9.9% Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 T-shirts 1.9% Wine Pharm. 2.3% Mineral waters 5.5% 3.5% % change y/y Fertilizers 2.7% Spirits 3.7% Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Source: Geostat 59

View entire presentation