Investor Presentaiton

2 Uruguay has become an attractive destination for foreign direct investment Progress on UPM investment is already showing up on FDI inflows Key Components of Net Capital Inflows (1) (Rolling 4-quarters, in % of GDP) FDI Inflows in LatAm in 2020 (2) (In % of GDP) 5.0 8 Portfolio Other Investments FDI 5 4 -4 4 3 2 1 -1 -8 -2 2016Q4 2018Q1 2019Q2 2020Q3 2021Q1 (1) Source: Central Bank of Uruguay. "Others" includes Other Investments and Financial Derivatives from the Financial Account of the Balance of Payments. Changes in Central Bank reserve assets are not included. (2) Source: World Investment Report 2021, United Nations and WEO April 2021 (in the case of Uruguay it uses GDP data as published by the Central Bank). 18

View entire presentation