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Investor Presentaiton

Debt portfolio cost-risk indicators improving Weighted average maturity of debt, years 10 8,0 7,4 Cost of public debt, % 4,5% 8 - 7,0 6,4 4,0% 4,2% 9 4,5 4 22 5,9 4,9 4,3 3,0 2,7 3,5% 3,0% 3,0% 2 2,5% 2,6% 0 2,4% 2,3% 2,3% 2012 2014 Total debt 2016 Marketable debt 2018 May-2019 2,0% 2,2% 2012 2013 2014 2015 2016 2017 2018 Interest rate distribution of debt, % Evolution of government liquidity buffer, EUR mn 4000 ▲ 133 150 120 90 ▲ 60 ▲ 63 60 52 44 41 30 100% 12 3000 80% 42 46 46 38 34 12% 2000 60% 88 40% 58 62 66 54 1000 88% 20% 0% 7 0 2012 2013 ESM-IMF loans Other 2012 2014 2016 2018 May-2019 Floating-rate debt Fixed-rate debt Source: Public Debt Management Office; Note: "e" denotes estimates by the Ministry of Finance 2014 2015 0 2016 2017 2018 Next 12 months debt redemptions ▲ Next 12 months debt redemptions cover ratio (rhs) % 27
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