Investor Presentaiton

September 2019 Solid economic recovery track (3/3) Comments Investment demand is another driver of economic recovery Industrial output grew by 0.4% (y-o-y) in 7m 2019 predominantly owing to the increased production in pharmaceuticals (11.3%), food, beverages and tobacco production (3.1%), and mining industry (2.6%) Gross fixed capital went up by 17.4% in Q1 2019 indicating increased investment activity of Ukrainian enterprises Capital investments witnessed 12.3% growth (y-o-y) in H1 2019, thus solidifying further economic growth prospects Industry has been the major contributor to capital investments in 2018 accounting for c.40% followed by construction and agriculture with 11% and 10% shares, respectively H1 2019 capital investments split by sector, % Gross fixed capital accumulation, % (y-o-y) 5.4% 17.9% 27.4% 24.0% 21.3% 18.2% 14.5% 12.8% 20.3% 17.6% 13.2% 10.2% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 '16 '16 '16 '16 '17 '17 '17 '17 '18 Source State Statistics Service of Ukraine Capital investments dynamics 17.4% Q2 Q3 Q4 Q1 '18 '18 '18 '19 ■Industry 17% ■Construction ■Agriculture 6% 40% 8% US$ 8.7bn ■Transport ■Trade 8% (1.7%) 10% 11% State administration and security Other UAH bn 273 359 413 526 207 26.5% 234 22.1% 19.3 18.0% 14.1 15.5 12.5 سلات 12.3% 16.4% 8.7 7.7 2015 2016 2017 Capital investments, US$ bn 2018 H1 2018 H1 2019 Real growth, % Source State Statistics Service of Ukraine Source State Statistics Service of Ukraine Note 1 To the corresponding period of the previous year on a cumulative basis 7

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