Investor Presentaiton

2021 state budget to resume gradual fiscal consolidation FY 2020 (Act.) FY 2021 (Plan) Key indicators of 2021 State budget: Total revenues: UAH 1,098bn (+2%) Total expenditures: UAH 1,335bn (+4%) Budget deficit²: 2021 vs 2020 state budget revenues split¹ ■VAT 2021 vs 2020 state budget expenditures split¹ 2021 state budget revenues: UAH 1,098bn 2021 state budget expenditures: UAH 1,335bn 13% FY 2020 (Act.) FY 2021 (Plan) ■Social welfare 5%2% 5% Security and defense 1% 4% 24% 21% 7% 25% ■Interbudgetary transfers ■Personal income tax UAH 246.6bn / 5.1% of GDP in 2021 (per government's forecast 13% 37% UAH 1,076 bn UAH 1,288 bn 20% 44% ■Corporate income tax 12% 10% of UAH 4,809bn GDP in 2021) UAH 1,098 bn UAH 1,335 bn 21% Other tax revenues 9% 22% 21% 11% 10% 10% 12% 13% ■Non-tax revenues Debt service Health Economic activity Education Public administration 13% 12% Notes 1 According to State Budget Law 2021 (as of May 2021) and Actual Annual State Budget Execution 2020 2021 State Budget Law: general fund financing, UAHbn 12.7 3.4 98.9 369.5 Other 7.6 0.7 24.4 17.8 6.2 0.4 USDbn³ 220.9 20.0 709.3 517.3 245.8 raised4 180.0 2 Budget deficit defined as 12.0 revenues minus expenditures and minus net lending 3 Translated at the 2021 budgeted avg 29.1 UAH per 1 USD Domestic debt repayment External debt repayment 4 As of June 29, 2021 State budget general fund deficit Other5 Gross general fund financing needs Domestic debt issuance 36.9 raised4 External debt issuance Privatization proceeds June 2021 14

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