Investor Presentaiton

5 Moderate current account deficit and large international reserves Mild deterioration in CAB, on the back of lower service exports and higher foreign dividend payments; sizable international reserves provide large external buffer Current Account Balance of Uruguay (1) (Rolling 4-quarters, in % of GDP) 2.0 International Reserves in Latam (2) (In % of GDP, as of end-March 2021) 40 1.5 1.0 0.5 -0.5 -1.0 -1.5 וון 29.6 30 20 T -1.5 -2.0 2016Q4 2018Q1 2019Q2 2020Q3 2021Q1 10 (1) Source: Central Bank of Uruguay. (2) Source: Official National Statistics and International Monetary Fund. Note: Regional and country specific information is as aggregated or reported, as applicable. 29 20

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