BONOS SOBERANOS EMERGENTES

viernes 13 de julio de 2018 BONOS SOBERANOS EMERGENTES 5,00 18/07/2018 Rating USD REPUBLIC OF ARGENTINA Sovereign - - - 9,000% 102,800 103,150 29/11/2018 0,329% 10.000 USD REPUBLIC OF ARGENTINA Sovereign B2 Bu B+ 6,250% 100,809 103,086 22/04/2019 2,135% 150.000 USD REPUBLIC OF ARGENTINA Sovereign - - - 8,000% 105,125 108,125 08/10/2020 4,131% 10.000 USD REPUBLIC OF ARGENTINA Sovereign B2 Bu B+ 6,875% 102,000 104,250 22/04/2021 5,198% 150.000 USD REPUBLIC OF ARGENTINA Sovereign B2 - - 5,625% 94,455 97,120 26/01/2022 6,553% 10.000 USD REPUBLIC OF ARGENTINA Sovereign - WD - 8,750% 105,250 107,750 07/05/2024 7,094% 10.000 USD REPUBLIC OF ARGENTINA Sovereign - - B+ 5,750% 90,875 95,875 18/04/2025 6,863% 10.000 USD REPUBLIC OF ARGENTINA Sovereign B2 Bu B+ 7,500% 109,500 112,000 22/04/2026 5,572% 150.000 USD REPUBLIC OF ARGENTINA Sovereign B2 - - 6,875% 105,750 109,250 26/01/2027 5,501% 10.000 USD REPUBLIC OF ARGENTINA Sovereign B2 - B+ 6,625% 87,759 90,035 06/07/2028 8,101% 150.000 USD REPUBLIC OF ARGENTINA Sovereign - WD B+ 8,280% 96,250 99,000 31/12/2033 8,396% 10.000 USD REPUBLIC OF ARGENTINA Sovereign - WD - 8,280% 92,244 95,129 31/12/2033 8,864% 10.000 USD REPUBLIC OF ARGENTINA Sovereign - WD - 4,950 7,150 15/12/2035 10.000 USD REPUBLIC OF ARGENTINA Sovereign - - - 5,052 7,668 15/12/2035 10.000 USD REPUBLIC OF ARGENTINA Sovereign B2 - B+ 7,125% 99,750 102,750 06/07/2036 6,856% 150.000 USD REPUBLIC OF ARGENTINA Sovereign - WD B+ 2,500% 59,775 62,125 31/12/2038 7,646% 10.000 USD REPUBLIC OF ARGENTINA Sovereign B2 Bu B+ 7,625% 104,750 107,750 22/04/2046 6,988% 150.000 USD REPUBLIC OF ARGENTINA Sovereign - - B+ 7,125% 79,625 82,275 28/06/2117 8,660% 10.000 EUR REPUBLIC OF ARGENTINA Sovereign - - B+ 3,875% 95,733 98,647 15/01/2022 4,296% 100.000 EUR REPUBLIC OF ARGENTINA Sovereign - - B+ 5,000% 86,795 89,637 15/01/2027 6,614% 100.000 EUR REPUBLIC OF ARGENTINA Sovereign B2 - - 6,250% 80,956 83,929 09/11/2047 7,629% 100.000 Provincias USD PROV OF TIERRA DEL FUEGO Municipal B3 - - 8,950% 93,224 94,400 17/04/2027 9,918% 10.000 USD PROVINCIA DE MENDOZA Municipal B2 - B+ 5,500% 98,350 102,350 04/09/2018-12,348% 10.000 USD PROVINCIA DE BUENOS AIRE Regional(state/pro B2 - B+ 9,375% 100,040 101,772 14/09/2018-1,920% 100.000 USD PROVINCIA DE BUENOS AIRE Regional(state/pro B2 - B+ 9,950% 104,000 107,000 09/06/2021 7,219% 150.000 USD PROVINCIA DE BUENOS AIRE Regional(state/pro B2 - B+ 6,500% 93,000 96,000 15/02/2023 7,548% 10.000 USD PROVINCE OF NEUQUEN Regional(state/pro - - B 7,875% 103,300 108,800 26/04/2021 4,461% 150.000 USD PROVINCIA DE BUENOS AIRE Regional(state/pro B2 - B+ 9,125% 98,900 101,970 16/03/2024 8,672% 150.000 USD PROVINCE OF SALTA Municipal - B B 9,125% 87,931 96,833 07/07/2024 9,838% 150.000 USD BONO GAR PROV DEL CHUBUT Regional(state/pro B2 B - 7,750% 79,100 82,000 26/07/2026 11,209% 150.000 USD PROVINCIA DE BUENOS AIRE Regional(state/pro B2 - B+ 9,625% 94,003 98,306 18/04/2028 9,895% 100.000 USD PROVINCE OF NEUQUEN Regional(state/pro - B - 8,625% 91,500 94,000 12/05/2028 9,578% 150.000 USD PROVINCIA DE BUENOS AIRE Regional(state/pro B2 - B+ 4,000% 67,250 70,250 15/05/2035 7,045% 10.000 EUR PROVINCIA DE BUENOS AIRE Regional(state/pro B2 - B+ 4,000% 97,822 100,820 01/05/2020 3,520% 10.000 EUR PROVINCIA DE BUENOS AIRE Regional(state/pro B2 - B+ 4,000% 73,100 76,138 15/05/2035 6,324% 10.000

USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 8,875% 106,000 107,400 14/10/2019 2,752% 10.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 12,750% 114,345 116,880 15/01/2020 1,288% 10.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 4,875% 102,200 104,500 22/01/2021 3,001% 100.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 2,625% 92,450 94,850 05/01/2023 3,893% 200.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 8,875% 120,000 123,000 15/04/2024 4,308% 10.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 8,750% 120,700 123,700 04/02/2025 4,525% 10.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 4,250% 96,650 98,950 07/01/2025 4,438% 200.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 6,000% 104,500 107,000 07/04/2026 4,899% 200.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 10,125% 129,750 132,750 15/05/2027 5,407% 10.000 USD FED REPUBLIC OF BRAZIL Sovereign - BB- BB- 4,625% 92,800 95,000 13/01/2028 5,302% 200.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 12,250% 151,000 154,500 06/03/2030 5,756% 10.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 8,250% 118,170 120,920 20/01/2034 6,139% 10.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 7,125% 108,550 111,250 20/01/2037 6,102% 10.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 5,625% 91,405 93,780 07/01/2041 6,139% 100.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 5,000% 83,250 85,750 27/01/2045 6,090% 200.000 USD FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 5,625% 89,250 91,700 21/02/2047 6,251% 200.000 EUR FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 2,875% 103,890 106,365 01/04/2021 0,501% 100.000 BRL FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 12,500% 113,640 116,305 05/01/2022 7,105% 250.000 BRL FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 8,500% 96,005 98,990 05/01/2024 8,735% 350.000 BRL FED REPUBLIC OF BRAZIL Sovereign Ba2 BB- BB- 10,250% 104,000 106,350 10/01/2028 9,230% 250.000 EUR BULGARIA Sovereign Baa2 BBB BBB- 2,000% 107,090 107,400 26/03/2022-0,006% 100.000 EUR BULGARIA Sovereign Baa2 BBB BBB- 1,875% 107,510 108,095 21/03/2023 0,137% 100.000 EUR BULGARIA Sovereign Baa2 BBB BBB- 2,950% 114,525 117,025 03/09/2024 0,156% 100.000 EUR BULGARIA Sovereign Baa2 BBB BBB- 2,625% 110,176 112,807 26/03/2027 1,077% 100.000 EUR BULGARIA Sovereign Baa2 BBB BBB- 3,000% 112,821 115,470 21/03/2028 1,294% 100.000 EUR BULGARIA Sovereign Baa2 BBB BBB- 3,125% 107,615 110,080 26/03/2035 2,389% 100.000 USD REPUBLIC OF CHILE Sovereign Aa3 A A+ 3,875% 101,700 104,200 05/08/2020 1,776% 100.000 USD REPUBLIC OF CHILE Sovereign Aa3 A A+ 3,250% 99,900 102,400 14/09/2021 2,454% 100.000 USD REPUBLIC OF CHILE Sovereign Aa3 A A+ 2,250% 95,500 98,100 30/10/2022 2,722% 150.000 USD REPUBLIC OF CHILE Sovereign Aa3 A A+ 3,125% 97,650 99,950 27/03/2025 3,133% 200.000 USD REPUBLIC OF CHILE Sovereign Aa3 A A+ 3,125% 96,550 98,950 21/01/2026 3,284% 200.000 USD REPUBLIC OF CHILE Sovereign Aa3 A A+ 3,240% 96,400 98,900 06/02/2028 3,376% 200.000 USD REPUBLIC OF CHILE Sovereign Aa3 A A+ 3,625% 94,750 97,250 30/10/2042 3,799% 150.000 USD REPUBLIC OF CHILE Sovereign - A A+ 3,860% 97,000 99,600 21/06/2047 3,883% 200.000 EUR REPUBLIC OF CHILE Sovereign Aa3 A A+ 1,625% 105,175 107,771 30/01/2025 0,418% 100.000 EUR REPUBLIC OF CHILE Sovereign Aa3 A A+ 1,750% 105,227 107,781 20/01/2026 0,685% 100.000 EUR REPUBLIC OF CHILE Sovereign Aa3 A A+ 1,875% 103,644 106,265 27/05/2030 1,303% 100.000

USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 7,375% 103,200 105,350 18/03/2019-0,619% 100.000 USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 11,750% 113,350 115,650 25/02/2020 1,798% 10.000 USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 4,375% 102,650 105,150 12/07/2021 2,570% 200.000 USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 2,625% 95,750 98,250 15/03/2023 3,030% 15/12/2022 3,052% 200.000 USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 8,125% 121,550 124,275 21/05/2024 3,494% 10.000 USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 4,000% 100,750 103,250 26/02/2024 3,359% 26/11/2023 3,332% 200.000 USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 4,500% 103,350 106,100 28/01/2026 3,569% 28/10/2025 3,541% 200.000 USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 8,375% 113,000 119,000 15/02/2027 5,558% 10.000 USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 10,375% 155,000 158,000 28/01/2033 4,788% 10.000 USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 7,375% 128,650 131,650 18/09/2037 4,825% 100.000 USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 6,125% 115,500 118,500 18/01/2041 4,775% 100.000 USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 5,625% 109,650 112,650 26/02/2044 4,764% 26/08/2043 4,756% 200.000 USD REPUBLIC OF COLOMBIA Sovereign Baa2 BBB BBB- 5,000% 101,350 104,350 15/06/2045 4,713% 15/12/2044 4,710% 200.000 USD DOMINICAN REPUBLIC Sovereign Ba3 BB- BB- 7,500% 106,050 108,300 06/05/2021 4,317% 100.000 USD DOMINICAN REPUBLIC Sovereign Ba3 BB- BB- 5,500% 100,875 103,375 27/01/2025 4,889% 100.000 USD DOMINICAN REPUBLIC Sovereign Ba3 BB- BB- 5,950% 102,000 104,750 25/01/2027 5,251% 100.000 USD DOMINICAN REPUBLIC Sovereign Ba3 BB- BB- 6,850% 103,500 106,500 27/01/2045 6,340% 100.000 USD DOMINICAN REPUBLIC Sovereign Ba3 BB- BB- 6,500% 99,750 102,750 15/02/2048 6,293% 150.000 USD REPUBLIC OF EL SALVADOR Sovereign B3 B-u CCC+ 7,375% 103,750 106,000 01/12/2019 2,872% 100.000 USD REPUBLIC OF EL SALVADOR Sovereign B3 B-u CCC+ 5,875% 97,000 100,000 30/01/2025 5,875% 10.000 USD REPUBLIC OF EL SALVADOR Sovereign B3 B-u CCC+ 6,375% 98,150 100,150 18/01/2027 6,352% 10.000 USD REPUBLIC OF EL SALVADOR Sovereign B3 B-u CCC+ 7,650% 103,250 105,500 15/06/2035 7,086% 10.000 USD REPUBLIC OF ECUADOR Sovereign - B B- 10,500% 105,650 107,850 24/03/2020 5,541% 200.000 USD REPUBLIC OF ECUADOR Sovereign - B B- 10,750% 106,250 109,250 28/03/2022 7,812% 200.000 USD REPUBLIC OF ECUADOR Sovereign - B B- 8,750% 98,250 101,250 02/06/2023 8,428% 200.000 USD REPUBLIC OF ECUADOR Sovereign - B B- 7,950% 93,550 96,550 20/06/2024 8,705% 200.000 USD REPUBLIC OF ECUADOR Sovereign - B B- 8,875% 94,150 97,150 23/10/2027 9,337% 200.000 USD REPUBLIC OF ECUADOR Sovereign - B B- 7,875% 89,250 91,750 23/01/2028 9,194% 200.000 USD REPUBLIC OF ECUADOR Sovereign C WD - 10,000% 43,125 57,460 15/08/2030 19,144% 15/02/2019 139,726% 10.000 USD ARAB REPUBLIC OF EGYPT Sovereign B3 B B 5,750% 101,488 103,925 29/04/2020 3,455% 100.000 USD ARAB REPUBLIC OF EGYPT Sovereign B3 B B 5,875% 95,319 98,138 11/06/2025 6,210% 200.000 USD ARAB REPUBLIC OF EGYPT Sovereign B3 B B 6,875% 89,951 93,019 30/04/2040 7,531% 100.000 USD REPUBLIC OF KOREA Sovereign Aa2 AA- AA 7,125% 103,065 105,217 16/04/2019 0,112% 100.000 USD REPUBLIC OF KOREA Sovereign Aa2 AA- AA 5,625% 113,539 116,178 03/11/2025 3,126% 100.000 USD REPUBLIC OF KOREA Sovereign Aa2 AA- AA 4,125% 106,251 109,402 10/06/2044 3,566% 200.000 EUR REPUBLIC OF KOREA Sovereign Aa2 AA- AA 4,250% 114,060 114,614 07/12/2021-0,061% 50.000 EUR REPUBLIC OF KOREA Sovereign Aa2 AA- AA 2,125% 107,355 109,015 10/06/2024 0,568% 100.000

USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 8,125% 108,170 110,500 30/12/2019 0,825% 10.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 3,500% 99,750 102,150 21/01/2021 2,609% 10.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 3,625% 99,400 101,800 15/03/2022 3,100% 10.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 8,000% 119,250 121,750 24/09/2022 2,491% 10.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 4,000% 100,750 103,000 02/10/2023 3,366% 10.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 3,600% 97,350 99,650 30/01/2025 3,661% 200.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 11,500% 148,500 153,500 15/05/2026 3,594% 10.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 4,125% 100,200 102,650 21/01/2026 3,717% 200.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 8,300% 139,000 142,000 15/08/2031 4,114% 10.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 7,500% 127,500 131,000 08/04/2033 4,581% 10.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 6,750% 117,000 120,750 27/09/2034 4,880% 10.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 6,050% 112,550 115,000 11/01/2040 4,912% 10.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 4,750% 96,595 99,095 08/03/2044 4,811% 10.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 4,600% 94,850 97,350 23/01/2046 4,774% 200.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 4,600% 95,200 97,200 10/02/2048 4,778% 200.000 USD UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 5,750% 101,600 104,100 12/10/2110 5,522% 10.000 EUR UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 5,500% 108,750 109,000 17/02/2020-0,183% 10.000 EUR UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 1,875% 104,023 105,678 23/02/2022 0,287% 100.000 EUR UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 2,750% 107,500 110,250 22/04/2023 0,565% 100.000 EUR UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 3,375% 110,980 113,650 23/02/2031 2,133% 100.000 EUR UNITED MEXICAN STATES Sovereign A3 BBB+ BBB+ 4,000% 92,122 94,957 15/03/2115 4,216% 100.000 USD REPUBLIC OF PANAMA Sovereign Baa2 BBB BBB 10,750% 113,000 115,000 15/05/2020 2,305% 10.000 USD REPUBLIC OF PANAMA Sovereign Baa2 BBB BBB 5,200% 103,535 105,825 30/01/2020 1,349% 100.000 USD REPUBLIC OF PANAMA Sovereign Baa2 BBB BBB 9,375% 121,545 125,460 16/01/2023 3,242% 10.000 USD REPUBLIC OF PANAMA Sovereign Baa2 BBB BBB 4,000% 102,250 104,750 22/09/2024 3,147% 22/06/2024 3,116% 200.000 USD REPUBLIC OF PANAMA Sovereign Baa2 BBB BBB 3,750% 100,250 102,750 16/03/2025 3,286% 16/12/2024 3,271% 200.000 USD REPUBLIC OF PANAMA Sovereign Baa2 BBB BBB 7,125% 121,750 124,250 29/01/2026 3,442% 100.000 USD REPUBLIC OF PANAMA Sovereign Baa2 BBB BBB 8,875% 136,250 138,750 30/09/2027 3,835% 10.000 USD REPUBLIC OF PANAMA Sovereign Baa2 BBB BBB 3,875% 100,000 102,500 17/03/2028 3,566% 17/12/2027 3,560% 200.000 USD REPUBLIC OF PANAMA Sovereign Baa2 BBB BBB 9,375% 142,500 145,500 01/04/2029 4,083% 10.000 USD REPUBLIC OF PANAMA Sovereign Baa2 BBB BBB 8,125% 134,250 138,250 28/04/2034 4,671% 10.000 USD REPUBLIC OF PANAMA Sovereign Baa2 BBB BBB 6,700% 125,975 128,695 26/01/2036 4,344% 10.000 USD REPUBLIC OF PANAMA Sovereign Baa2 BBB BBB 4,300% 99,150 102,150 29/04/2053 4,182% 200.000 USD REPUBLIC OF PERU Sovereign A3 BBB+ BBB+ 7,125% 103,250 105,250 30/03/2019-0,358% 10.000 USD REPUBLIC OF PERU Sovereign A3 BBB+ BBB+ 7,350% 123,250 125,750 21/07/2025 3,217% 100.000 USD REPUBLIC OF PERU Sovereign A3 BBB+ BBB+ 4,125% 104,150 106,650 25/08/2027 3,274% 10.000 USD REPUBLIC OF PERU Sovereign A3 BBB+ BBB+ 8,750% 149,150 152,150 21/11/2033 4,127% 10.000 USD REPUBLIC OF PERU Sovereign A3 BBB+ BBB+ 6,550% 128,000 130,750 14/03/2037 4,163% 10.000 USD REPUBLIC OF PERU Sovereign A3 BBB+ BBB+ 5,625% 119,500 122,250 18/11/2050 4,338% 10.000

EUR REPUBLIC OF PERU Sovereign A3 BBB+ BBB+ 2,750% 109,500 112,125 30/01/2026 1,070% 100.000 EUR REPUBLIC OF PERU Sovereign A3 BBB+ BBB+ 3,750% 119,500 122,000 01/03/2030 1,660% 100.000 USD REPUBLIC OF PARAGUAY Sovereign Ba1 BB BB 4,625% 103,250 105,500 25/01/2023 3,305% 200.000 USD REPUBLIC OF PARAGUAY Sovereign Ba1 BB BB 5,000% 104,500 106,000 15/04/2026 4,087% 200.000 USD REPUBLIC OF PARAGUAY Sovereign (P)Ba1 BB BB 4,700% 102,500 104,250 27/03/2027 4,113% 200.000 USD REPUBLIC OF PARAGUAY Sovereign Ba1 BB BB 6,100% 108,500 110,500 11/08/2044 5,348% 200.000 USD REPUBLIC OF PARAGUAY Sovereign #N/A N/A BB BB 5,600% 102,748 105,783 13/03/2048 5,214% 200.000 USD REPUBLIC OF PHILIPPINES Sovereign Baa2 BBB BBB 9,875% 103,430 104,970 15/01/2019-0,222% 10.000 USD REPUBLIC OF PHILIPPINES Sovereign Baa2 BBB BBB 4,000% 101,250 103,625 15/01/2021 2,490% 100.000 USD REPUBLIC OF PHILIPPINES Sovereign Baa2 BBB BBB 9,500% 131,719 134,300 21/10/2024 3,373% 10.000 USD REPUBLIC OF PHILIPPINES Sovereign Baa2 BBB BBB 10,625% 139,844 142,375 16/03/2025 3,449% 10.000 USD REPUBLIC OF PHILIPPINES Sovereign Baa2 BBB BBB 7,750% 132,688 135,268 14/01/2031 4,111% 100.000 USD REPUBLIC OF PHILIPPINES Sovereign Baa2 BBB BBB 6,375% 123,643 126,195 23/10/2034 4,144% 100.000 USD REPUBLIC OF PHILIPPINES Sovereign Baa2 BBB BBB 5,000% 108,351 110,974 13/01/2037 4,144% 200.000 USD REPUBLIC OF PHILIPPINES Sovereign Baa2 BBB BBB 3,700% 94,074 96,554 01/03/2041 3,931% 200.000 USD RUSSIAN FEDERATION Sovereign Ba1 BBB- BBB- 11,000% 100,130 100,500 24/07/2018-17,956% 10.000 USD RUSSIAN FEDERATION Sovereign Ba1 BBB- BBB- 3,500% 100,003 101,425 16/01/2019 0,609% 200.000 USD RUSSIAN FEDERATION Sovereign Ba1 BBB- BBB- 5,000% 102,672 105,201 29/04/2020 2,010% 100.000 USD RUSSIAN FEDERATION Sovereign Ba1 BBB- BBB- 4,500% 102,857 105,322 04/04/2022 2,974% 200.000 USD RUSSIAN FEDERATION Sovereign Ba1 BBB- BBB- 4,875% 105,230 107,550 16/09/2023 3,272% 200.000 USD RUSSIAN FEDERATION Sovereign Ba1 BBB- BBB- 12,750% 164,655 167,285 24/06/2028 4,339% 10.000 USD RUSSIAN FEDERATION Sovereign Ba1 BBB- BBB- 7,500% 110,955 113,375 31/03/2030 5,900% 10.000 USD RUSSIAN FEDERATION Sovereign Ba1 BBB- BBB- 5,625% 108,804 111,425 04/04/2042 4,811% 200.000 USD RUSSIAN FEDERATION Sovereign Ba1 BBB- BBB- 5,875% 112,064 114,507 16/09/2043 4,868% 200.000 EUR RUSSIAN FEDERATION Sovereign Ba1 BBB- BBB- 3,625% 106,940 107,940 16/09/2020-0,047% 100.000 USD REPUBLIC OF SOUTH AFRICA Sovereign Baa3 BB+ BB 6,875% 102,876 105,280 27/05/2019 0,693% 100.000 USD REPUBLIC OF SOUTH AFRICA Sovereign Baa3 BB+ BB 5,500% 103,058 105,492 09/03/2020 2,078% 100.000 USD REPUBLIC OF SOUTH AFRICA Sovereign Baa3 BB+ BB 5,875% 105,909 108,387 30/05/2022 3,534% 100.000 USD REPUBLIC OF SOUTH AFRICA Sovereign Baa3 BB+ BB 4,665% 100,187 102,670 17/01/2024 4,117% 100.000 USD REPUBLIC OF SOUTH AFRICA Sovereign Baa3 BB+ BB 5,875% 105,270 107,770 16/09/2025 4,588% 200.000 USD REPUBLIC OF SOUTH AFRICA Sovereign Baa3 BB+ BB 6,250% 102,819 105,410 08/03/2041 5,816% 100.000 USD REPUBLIC OF SOUTH AFRICA Sovereign Baa3 BB+ BB 5,375% 93,040 95,625 24/07/2044 5,699% 200.000 EUR REPUBLIC OF SOUTH AFRICA Sovereign Baa3 BB+ BB 3,750% 106,925 109,613 24/07/2026 2,423% 100.000

USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 7,000% 101,000 102,565 11/03/2019 2,961% 100.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 7,500% 102,165 104,625 07/11/2019 3,820% 100.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 7,000% 101,625 104,120 05/06/2020 4,682% 10.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 5,625% 98,490 101,050 30/03/2021 5,200% 100.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 5,125% 95,544 98,108 25/03/2022 5,699% 200.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 7,375% 101,250 103,750 05/02/2025 6,658% 10.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 6,125% 90,691 93,331 24/10/2028 7,047% 200.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 11,875% 133,315 136,190 15/01/2030 7,193% 10.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 8,000% 102,545 105,455 14/02/2034 7,403% 10.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 6,875% 91,870 94,485 17/03/2036 7,440% 10.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 7,250% 94,965 97,725 05/03/2038 7,471% 10.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 6,750% 88,953 91,789 30/05/2040 7,520% 100.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 6,000% 82,321 85,130 14/01/2041 7,363% 200.000 USD REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 5,750% 78,225 80,780 11/05/2047 7,366% 200.000 EUR REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 5,875% 102,485 103,450 02/04/2019 0,955% 50.000 EUR REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 5,125% 103,695 106,150 18/05/2020 1,702% 50.000 EUR REPUBLIC OF TURKEY Sovereign Ba2 *- BB+ - 4,125% 100,340 103,108 11/04/2023 3,407% 100.000 USD UKRAINE GOVERNMENT Sovereign Caa2 B- B- 7,750% 100,295 103,460 01/09/2019 4,538% 100.000 USD UKRAINE GOVERNMENT Sovereign Caa2 B- B- 7,750% 100,715 103,385 01/09/2020 6,020% 100.000 USD UKRAINE GOVERNMENT Sovereign Caa2 B- B- 7,750% 96,841 100,113 01/09/2025 7,727% 100.000 USD UKRAINE GOVERNMENT Sovereign Caa2 B- B- 7,750% 95,835 98,670 01/09/2027 7,956% 100.000 USD UKRAINE GOVERNMENT Sovereign Caa2 B- B- 0,000% 63,780 67,041 31/05/2040 1,837% 10.000 USD REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 8,000% 113,900 115,150 18/11/2022 4,142% 10.000 USD REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 4,500% 104,100 105,635 14/08/2024 3,463% 10.000 USD REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 6,875% 114,795 116,795 28/09/2025 4,149% 10.000 USD REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 4,375% 103,085 104,515 27/10/2027 3,792% 10.000 USD REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 7,875% 134,000 136,000 15/01/2033 4,473% 10.000 USD REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 7,625% 133,265 135,095 21/03/2036 4,683% 10.000 USD REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 4,125% 93,725 95,395 20/11/2045 4,416% 10.000 USD REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 5,100% 103,230 104,730 18/06/2050 4,808% 10.000 USD REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- - 4,975% 100,850 102,600 20/04/2055 4,823% 10.000 EUR REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 7,000% 105,430 106,680 28/06/2019-0,069% 10.000 UYU REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 5,000% 100,220 101,220 14/09/2018-2,762% 10.000 UYU REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 4,250% 105,150 108,400 05/04/2027 3,140% 10.000 UYU REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 4,375% 107,100 110,600 15/12/2028 3,171% 10.000 UYU REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 4,000% 104,500 108,000 10/07/2030 3,191% 10.000 UYU REPUBLICA ORIENT URUGUAY Sovereign Baa2 BBB- BBB 3,700% 102,750 106,500 26/06/2037 3,238% 10.000

USD REPUBLIC OF VENEZUELA Sovereign C WD D 13,625% 28,670 35,335 15/08/2018 2129,633% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 7,000% 27,835 33,170 01/12/2018 551,267% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 7,750% 27,150 31,635 13/10/2019 135,845% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 6,000% 26,245 30,760 09/12/2020 68,962% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 12,750% 28,210 32,795 23/08/2022 56,092% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 9,000% 26,995 31,510 07/05/2023 44,725% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 8,250% 27,250 31,750 13/10/2024 36,819% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 7,650% 26,725 31,225 21/04/2025 34,435% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 11,750% 28,230 32,775 21/10/2026 39,940% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 9,250% 28,250 32,750 15/09/2027 32,647% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 9,250% 26,995 31,510 07/05/2028 33,036% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 11,950% 28,590 33,145 05/08/2031 36,911% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 9,375% 28,975 33,530 13/01/2034 28,847% 10.000 USD REPUBLIC OF VENEZUELA Sovereign C WD D 7,000% 27,000 31,500 31/03/2038 22,894% 10.000 USD GOVERNMENT OF JAMAICA Sovereign B3 Bu B 8,000% 101,838 105,525 24/06/2019 1,993% 100.000 USD GOVERNMENT OF JAMAICA Sovereign B3 Bu B 11,625% 123,720 126,408 15/01/2022 3,521% 10.000 USD GOVERNMENT OF JAMAICA Sovereign B3 Bu B 9,250% 127,223 130,186 17/10/2025 4,347% 100.000 USD GOVERNMENT OF JAMAICA Sovereign B3 Bu B 8,500% 118,599 120,879 28/02/2036 6,492% 100.000 Los precios que aquí aparecen son totalmente indicativos, agradecemos se comuniquen con la mesa de operaciones para actualizar los mismos. Al adoptar una decisión de invertir, los inversores deben basarse exclusivamente en su propio análisis de los instrumentos que se les ofrecen, de las características de los mismos y de los riesgos involucrados en su decisión de invertir. El inversor debe tener en cuenta que GBU (Grupo Bursátil Uruguayo) Sociedad de Bolsa no asume responsabilidad alguna por el principal, ni de garantía, por los instrumentos invertidos o a invertir; ni por las amortizaciones anticipadas o casos fortuitos. La documentación presentada es con fines informativos únicamente, y no debe ser considerada como una oferta, recomendación, o solicitud para concluir una transacción, no debiendo ser considerada como asesoramiento financiero. Fuente: Bloomberg

Nota de deuda según calificador Moody`s S&P Fitch Aaa AAA AAA Aa1 AA+ AA+ Aa2 AA AA Aa3 AA- AA- Grado A1 A+ A+ Inversor A2 A A A3 A- A- Baa1 BBB+ BBB+ Baa2 BBB BBB Baa3 BBB- BBB- Ba1 BB+ BB+ Ba2 BB BB Grado Ba3 BB- BB- Especulativo B1 B+ B2 B B B3 B- CCC+ CCC+ Caa CCC CCC Predominantemente Ca CC CC Especulativo, Riesgo C C C Sustancial o en DEFAULT CI DDD DD D D La nota corresponde a deuda de largo plazo nominada en moneda extranjera MAXIMA CALIDAD ALTA CALIDAD FUERTE CAPACIDAD DE PAGO CAPACIDAD ADECUADA DE PAGO PAGO PROBABLE PERO INCIERTO ALTO RIESGO RIESGO SUSTANCIAL CONDICIONES POBRES MUY ESPECULATIVO CASI DEFAULT NO PAGO de INTERES DEFAULT Rincon 531 Primer Piso - C.P. 11.000 Montevideo - Uruguay Tel.: +598 2916 8986 / 87 Fax: +598 2916 9677 www.gbu.com.uy