Investor Presentaiton

Proactive debt management reduced FX exposure which mitigates higher volatility risks Central Government (CG) Debt (In % of GDP, end-period) 80 60 60 60 40 40 20 20 Currency and Maturity Composition of CG Debt (End-period) Gross Debt Net Debt 100 80 47.0 60 Debt in Foreign Currency (in % of total) -Average time to maturity (in years) 41.7 40 40 20 20 14.6 15 55 12 112 9 6 2005 2007 2009 2011 2013 2015 2017 2018Q3 2005 2007 2009 2011 2013 2015 2017 2018Q3 Source: Debt Management Unit, Ministry of Economy and Finance 37

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