Investor Presentaiton

Interest Payments Development ARDAL Interest payments are at historical lows as a percentage of GDP and have been declining since 2014 even in nominal terms In 2022 interest payments expected at similar level to 2021 in nominal terms and with further drop as a % of GDP ECB's PSPP helped in decreasing interest payments Interest Payment Dynamics for Slovakia (accrual) 1.4 1.2 1 0.8 0.6 0.4 0.2 0 2013 2014 2015 2016 2.00% 1.50% 1.00% 0.50% 0.00% 2017 2018 2019 2020 2021 2022 Interest payments in % of GDP (rhs) Interest payments in EUR bn (Ihs) キ Source: ARDAL, data as of August 2022; 2022 is estimate for whole year 32

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