Investor Presentaiton

The Main Fiscal Reform of Managing Public Finance 2ARDAL 2003 Agentúra pre riadenie dlhu a likvidity 2023 Dobi and Liquidity Management Agency In 2023 the Parliament approved ceilings on public expenditure for 2023-2025. The ceilings now serve as a main operation tool to achieve long-term fiscal sustainability starting from 2023 and thereafter for whole election period as from 2024 ✓ Calculation of expenditure limits is based on risks of long-term sustainability indicator and executed and updated by independent Council for Budget Responsibility ✓ Required structural consolidation of 0.5% of GDP in case of high/medium risks and 0.25% in case of low risks Expenditure ceilings incorporate escape clauses that can be triggered in circumstances of economic ✓ downturn of 0% or -3%, or one-off measures related to extraordinary events ✓ Ceilings are also tied to EU general escape clause (still active in 2023) Amendment of debt brake rule that would strengthen waiting for final approval by Parliament ✓ Main changes come with substituting indicator from gross to net debt ✓ Rationalizing of sanctions while enhancing their enforcement ✓ Modification of escape clauses to ensure flexibility キ 26

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