Investor Presentaiton

Argentina remains the main source of inbound tourism, yet the weight of other services has increased recently Tourist Arrivals and Receipts (Last 12 months) Foreign Visitors (in million) 5 4 3 2 1 Exports of Services (Last 12 months, in USD millions) Tourism Receipts (in USD billion) 2.5 6,000 Others Argentine Tourism exports 5,000 4,000 2 3,000 1.5 2,000 1,000 1 0 2010 2012 2014 2016 2018Q2 2010 Source: Ministry of Tourism 1/ ■Tourism Other 2012 2014 2016 2018Q2 1/ Software, transport and logistics Source: Central Bank of Uruguay 14

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