Investor Presentaiton

Strong labor market indicators reflected in an upturn in real wage growth, boosting private consumption. Employment and real wages (1) Employment rate (average of last 12 60 months) Real wage (YoY % change) Household consumption (2) (YoY real change, in %) 10 4.6 5 5 4 4.8 تباس 58 -5 3 -10 57.72 56 -15 56 Mar-17 Jun-18 Sep-19 Dec-20 Mar-22 Jun-23 1 Consumer confidence index(3) (Global) 54 70 -1 60 -2 Moderate optimism 51.4 52 50 -3 Moderate pessimism 40 50 -4 30 May-17 Aug-18 Nov-19 Feb-21 May-22 Aug-23 Apr-17 Nov-18 Jun-20 Jan-22 Aug-23 (1) Source: National Institute of Statistics. 6 (2) Source: Central Bank of Uruguay. (3) Source: Equipos Consultores and Universidad Católica del Uruguay.

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