Investor Presentaiton

Source: IMF Global Economy 10 Actual Quarterly GDP growth (% YoY) 8 8.1 6 4 2 0.3 0 -2 -2.9 -4 -4.8 -6 Mar-09 Jun-09 Sep-09 Dec-09 World Adv. economies Emg. and developing economies Mar-10 Jun-10 Global economy remains on recovery path, GDP forecast for 2010 continuously upgraded Annual GDP growth (% YoY) ☐ 7.1 6.8 6.3 6.0 4.9 5.1 4.7 4.6 4.8 4.0 4.2 O 3.9 2.9 3.1 2.5 2.5 2.6 2.7 1.9 2.3 2.1 1.3 0.6 0.0 -0.6 2009 Actual -3.2 Apr-09 60-յոՐ Oct-09 2010 GDP Forecast Dates Jan-10 World Adv. economies --Emg. and developing economies Apr-10 7 Jul-10 Oct-10 JŚW

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