Investor Presentaiton

8 In 2021, Uruguay's bond issuance has been mostly in local currency, with a growing relevance of the domestic market Emerging Markets: Sovereign International Bond Issuances during 2021 (*) (1) (In US$ million, as of December 9th, 2021) Chile Indonesia Bahrain Peru China Turkey Philippines Ghana Romania Colombia Saudi Arabia Abu Dhabi United Arab Emirates Uruguay: Treasury Notes Issuances in Domestic Market (2) (In US$ million equivalent) 2,500 Joint operations with Central Bank Regular calendar issuances 2,000 Hong Kong Panamá Mexico Oman I Foreign currency 1,500 Pakistan Serbia Ivory Coast Local currency 1,000 Maldives Croatia Paraguay Brazil Uruguay Malaysia Rep. of Benin Sharjah (UAE) Georgia Dom. Rep. Armenia Korea Russia Ukraine Kenya Guatemala Senegal Gabon North Macedonia О 5,000 10,000 15,000 20,000 (*) For countries with several transactions in multiple currencies during the year, it shows the sum of total amount issued. Excludes European EM countries that have issued in Euros. (1) Source: Bloomberg/(2) Source: Debt Management Unit, Ministry of Economy and Finance of Uruguay. 500 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 36 1,944

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