Investor Presentaiton

4 ... despite real exchange rate appreciation; large international reserve buffers are a significant external backstop. Real Effective Exchange Rate of Uruguay (1) (Index base 100 = average 2017) 140 -Multilateral excluding Arg and Bra 130 -Multilateral -Regional 120 110 100 90 80 My 96.5 International reserves in Latam (2) (As of end 2023Q2, in % of GDP)* 30 20.2 20 87.7 10 79.9 70 Jun-17 Jun-18 Jun-19 Jun-20 Jun-21 Jun-22 Jun-23 (1) Source: Central Bank of Uruguay. (2) Source: International Monetary Fund. Reserves of Brazil and Mexico correspond to May 2023. Reserves of Peru correspond to July 2023. The GDP used is an average of the nominal GDP 2022 and 2023 from WEO April 2023. 22

View entire presentation