Latvia Economic and Defence Update

32 FUNDING INSTRUMENTS ARE CUSTOMIZED TO ACTUAL SITUATION Demand in the domestic auctions continues to be supportive in 2023 In 2022 the emphasis has been on the domestic market by borrowing largest ever volumes in relatively short period (millions, EUR) Domestic market continues to perform strongly in domestic auctions (BIDS/Sold amount ratio) 1400 1200 4.50 1195 3.67 4.00 3.89 3.39 3.50 3.00 680 622 2.50 567 573 535 2.00 1.45 422 385 385 1.50 1.96 1.68 1.00 0.50 0.00 2019 2020 Gross issuance 2021 2022 2023* * Issued till March 22, 2023 Apr May June July Aug Sept Oct Nov Jan Feb Mar 2022 2023 1000 800 600 330 400 150 200 107 46 0 2017 -200 -422018 ■Net issuance 1.67 * Source: The Treasury as of 22.03.2023. Last disbursement under EU SURE facility In December 2022 Latvia received the last tranche from EC SURE facility in amount of 167 million EUR Total amount of tranches Latvia has disbursed under EU SURE instrument is EUR 472 million Source: The Treasury as of 22.03.2023. Primary dealers group and auctions Primary dealer system in Latvia operates since 11 February 2013 Enlargement of Primary dealer group took place on 19 January 2021 when Erste Group Bank joined Citadele banka AS, Luminor Bank AS, SEB bankas, Swedbank AS ■ Since 14 October 2020 GMTN programme XS ISIN Eurobonds TAPS are offered in auction in domestic market only (via Primary dealers) ■ The Treasury holds regular auctions and offers tenors to address investor demand NOTE: SURE - EU coordinated response to the Covid-19 for temporary support to mitigate unemployment risks in an emergency

View entire presentation