Investor Presentaiton

1 Despite solid q/q real GDP growth in 2023Q1, leading indicators anticipate slower economic growth in 2023, weighed down by a severe drought and lower regional and global demand. Exports of goods (1) (YoY change in dollar amount, in %) 70 Industrial Production (2) (YoY real change, in %) 40 10 -20 -50 Oct-20 Jun-21 Tax revenue collection (3) (YoY real change, in %) 20 10 -10 Nov-20 Jul-21 20 י TT 5 TT -39.7 -10 Feb-22 Oct-22 Jun-23 Oct-20 Mar-22 Nov-22 Jun-21 Feb-22 0.6 Oct-22 Jun-23 Uruguay's Average Annual Rainfall (4) (Annual country average accumulated rainfall in mm) 2000 1500 1000 500 -2.5 Jul-23 2000 2006 2012 (1) Source: Ministry of Economy and Finance calculations based on data from the BCU. (2) Source: Ministry of Economy and Finance calculations based on data from the National Institute of Statistics. Data does not include production from the state-owned refinery. (3) Source: Tax Collection Office, Ministry of Economy and Finance. (4) Source: Inumet Historical Average 2018 2022 9

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