Investor Presentaiton

1. Economy and Tax Revenue Tax revenue breakdown by taxes (as of 2014) Income taxes make up significant part of Mongolia's Budget Revenue (21%). CIT: There are 94 thousand private companies currently residing in Mongolia: VAT 30.0% ☐ 9% is foreign invested Capital tax 0.5%. Other 22.0% ◉ Top 100 tax payers make up about 80% of the total CIT revenue. ☐ 591 registered non profit PES PIT 8.1% Excise Tax PIT: Registered workforce - 1.4 million (as of Jan 2015) ☐ CIT 12.7% Customs 7.3% Mining 7.6% ☐ Royalty 11.8% Public servants - 12.55% Private 66.5% - Foreign residents - 0.5% Nomadic herders - 20.5% 4

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