Retail Banking Financial Update

2010 2011 2012 2013 2014 2015 2010 2011 2012 PUBLIC DEBT • FISCAL DEFICIT 0% -2.0% -1.9% -2.4% -2.7% -2% -1.7% -2.6% -4% -2.3% -2.8% -6% -5.3% -8% -10% -12% 2013 - Fiscal deficit (IMF program definition) Note: Deficit calculated as net lending / borrowing minus budget lending 2017 2018 -9.1% 2019 2020F 2021F -2.1% -7.6% 2022F 2023F 2024F • PUBLIC DEBT AS % OF GDP Source: MoF, 2021 budget 180% 70% 60% 50% 40% 30% 20% 10% 70% Public debt/GDP capped at 60% 150% 60% 50% 120% 40% 90% 30% 60% 20% 30% 10% 0% ―― Total public debt to GDP, % ―― External public debt to GDP, % 2016 2017 2018 2019 2020F 2021F 2022F 2023F 2024F Russia Kazakh... Uzbekis... Moldova Czech. Turkey Source: MoF, 2021 budget • BREAKDOWN OF THE PUBLIC DEBT -3.1% -2.6% -4.4% Multilateral 56% Domestic 21% External 79% Bilateral 17% Eurobond 6% GROSS GOVERNMENT DEBT/GDP | 2019 Latvia Romania Lithuania Belarus Georgia Poland Armenia | 59.9% Slovakia Ukraine Hungary Slovenia Croatia Monten. Canada Spain Singap Italy Source: MoF, as of October 2020 External public debt portfolio weighted average interest rate 1.4% Contractual maturity 21 years Source: IMF, MoF 48

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