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Switching focus to UAH-denominated issuances on domestic market UAH-denominated issuances grew at 72% CAGR over 2017-2021 • After a major 3.5x 2019 y-o-y volume Domestic government bonds placements by currency Funds remitted to State Budget UAHM UAH-denominated issuances 287,896 227,552 258,829 18% 65,128 55% 30% 72% 6,922 93% 46% 36% 2018 2019 2020 2021 YTD'221 US$-denominated issuances Year 2021 kept the positive growth tendency with an increase, 2020 saw further growth of 14% y-o-y in UAH- US$m denominated securities 3,478 4,331 3,857 3,096 46% 19% 33% 70% 67% 54% 81% 30% 2018 2019 2020 2021 148 increase of 11% y-o- YTD'221 EUR-denominated issuances y for UAH- EURM 845 783 denominated 503 9% 387 30% issuances 56% 91% 70% 96% 44% 2018 In line with MTDS objectives, FX- denominated issuances are kept relatively stable Share of UAH-denominated debt in total state debt 2019 ■up to 1 year 2020 2021 YTD'221 1-3 years ■3-5 years ■over 5 years February 2022 33.4% 41.0% 38.2% 40.0% Dec 31, 2018 Dec 31, 2019 Dec 31, 2020 Dec 31, 2021 Source Ministry of Finance Note 1 As of February 1, 2022 BA 21

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