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Investor Presentaiton

Intended debt management strategies for 2018 1) Continue developing the local currency bond market by: Extend duration in nominal peso yield curve through issuance of longer-dated global bonds and liability management operations. Continue to target index-eligibility in primary issuances to enhance liquidity, while ensuing the right incentives for banks to increase trading in secondary markets and dollar/peso hedging. instruments. Increasing share of peso debt through dollar/peso cross- currency swaps. Aligning custody and settlement process in domestic markets to international standards. 29 29

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