Investor Presentaiton

THE GOVERNMENT OF THE GRAND-DUCHY OF LUXEMBOURG Ministry of Finance ASW 80 60 70 60 50 40 40 30 Love 20 20 10 0 06/11 Source: Bloomberg 7: DEBT MANAGEMENT Spread LGB vs DBR LGB 5/20 vs. DBR 7/20 LGB 3/22 vs. DBR 7/22 س 09/11 12/11 03/12 06/12 09/12 12/12 03/13 06/13 Investor Presentation, June 2013 34 of 40

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