Investor Presentaiton

RESPONSE TO COVID-19 ECONOMIC AND SOCIAL SUPPORT MEASURES • Supporting liquidity provision to businesses - Loans to SMEs in certain affected sectors, to finance employee-related expenses, tax, duties and mandatory payments, purchase of raw materials or equipment, utility services payments Interest rate subsidies for agricultural loans/lease and co-financing Interest rate subsidies for loans that finance employee-related expenses, tax, duties and mandatory payments, purchase of raw materials or equipment, utility services payments, food ■ Eligible loans (up to AMD 500 million) Eligible co-financing/refinancing (up to AMD 250 million) ■ Maturity: 2 years with a 1 year grace Lump sum financing aimed at preserving jobs for businesses with 2-50 employees (approximately one-fifth of total employee's wages) • Direct social assistance transfers to the vulnerable Lump-sum transfers to the vulnerable, including: Families with children under 14 and children under 18: AMD 100,000 and AMD 26,500 per child, respectively ■ Micro-enterprises: 10% of the turnover in the first 3 months of 2020 or up to AMD 136,000 • ■ or AMD 68,000 if not activating cash-register machine with State Revenue Committee IT businesses: (1) grants for innovation - up to AMD 10 million per project, (2) grants for sustainable companies - up to AMD 20 million per project, (3) 100% co-financing grants not exceeding AMD 30 million Individuals made redundant due to Covid-19: AMD 68,000 Pregnant women who faced difficulties due to Covid-19: AMD 100,000 Tuition subsidies and subsidizing student loans Subsidies for utility services (gas and electricity) • Investments to support post crisis recovery From USD 0.5 million to USD 4.0 million of equity per project in sectors of strategic importance (via Entrepreneur + State Anti-Crisis Investments Fund) Corporate Income Tax Reform Government has implemented a deferral in corporate income tax advance payment for the second quarter of 2020 and, also allowed the CIT payers to choose an alternative method of calculating the tax advance payment, based on the turnover over the previous quarter. Fiscal Response to COVID-19 Crisis, AMD bln Measures in 2020 2.7% of GDP in total 70.0 19.4 13.0 26.0 36.4 Measures in Jan-Aug 2021 0.3% of GDP* in total 13.1 ■ Economic measures ■Social measures ■ Health-care measures ■Lending operations (Below the line measures) ■CIT Reform * Calculated using projected GDP of 2021, based on 2022 Budget Draft Forecasts 5.9 7

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