Investor Presentaiton

THE GOVERNMENT OF THE GRAND-DUCHY OF LUXEMBOURG Ministry of Finance 7: DEBT MANAGEMENT LGB 3,375% 2020 ASW compared to other euro-zone sovereign issuers ASW LGB 5/20 - DBR 7/20 RFGB 4/20 NETHER 7/20 RAGB 7/20 150 100 50 -50 жут -100 06/11 12/11 06/12 12/12 06/13 Source: Bloomberg Investor Presentation, June 2013 31 of 40

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