Investor Presentaiton

STATE OIL FUND AND SOVEREIGN RATINGS azpromo Export and Investment Promotion Agency of the Republic of Azerbaijan 45.3 BLN.USD - AS OF JULY 1, 2022 SOFAZ'S PORTFOLIO BREAKDOWN BY ASSET CLASS SOVEREIGN RATINGS BY MAJOR RATING AGENCIES Fixed income and money market instruments ■ Equities Real estate Gold 6.5% 13.1% Standard & Poor's BB+, Outlook Stable Moody's Ba1, Outlook Stable 17.9% 62.5% Fitch • BB+, Outlook Positive 5

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