Investor Presentaiton

How would you evaluate the current state of the relationship between Armenia and ...? France 63% 33% Iran 38% 53% 2% 1% 5% 3% 1% USA 21% 67% 7% 2% 2% European Union 18% 68% 8% 3% 3% China 18% 66% 6% 2% 8% Georgia 17% 63% 16% 3% 2% Russia 10% 40% 34% 15% 1% Ukraine 4% 40% 31% 16% 10% Turkey 3% 20% 24% 51% Azerbaijan 22% 7% 89% 2% <1% 0% 20% 40% 60% 80% 100% ■ Very good Somewhat good Somewhat bad ■Very bad Don't know/Refused 50

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