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Government Securities Market BULGARIAN NATIONAL BANK www.bnb.bg/fiscal services June 22 Primary Market of Government Securities ISSUES IN JULY Auction date 1.7.22 8.7.22 15.7.22 Treasury Treasury Treasury Government securities type bills bonds bonds 3-month 5-year 7-year Payment date 3.7.22 1.7.22 17.7.22 AUCTIONS OF TREASURY BILLS IN JUNE 3-month 12-month date 5.6.22 26.6.22 Maturity 5.9.22 26.6.23 Auction date 3.6.22 24.6.22 Bids (BGNí) 12. 2. Minimum price per BGN nominal value 99.2 94.45 Average price per BGN nominal value 99.6 95. Average annual yield 3.71 5.19 AUCTIONS OF TREASURY BONDS IN JUNE 3-year* 1-year* Interest coupon 6.5 7.5 date 13.3.22 17.4.22 Maturity 13.3.25 17.4.212 Auction date 1.6.22 17.6.22 Payment date 12.6.22 19.6.22 Bids (BGNí) 44 151. 42 338.5 Bids (BGNí) 25. 25. Minimum price per BGN nominal value** 11.3 95.33 Average price per BGN nominal value** 11.68 95.92 Interest accrued 1.62 1.29 Average annual yield 5.88 8.1 * Tap issue. ** Minimum and average prices per BGN nominal value for tap issues do not include interest accrued as of payment date. Auctions for Sale of Five-year Treasury Bonds Auctions for Sale of Three-month Treasury Bills 12 8 6 4 2 VII VIII IX X XI XII I II IV V 21 22 Bids Bids Average annual yield (right scale) 1 9 8 7 6 5 4 3 2 1 35 3 25 2 15 1 5 VII VIII IX X XI XII I II III IV VI 21 22 Bids Bids Average annual yield (right scale) 6 5 4 3 2 1 Investment in Target Government Securities Earmarked for Sale to Physical Persons 45 4 35 3 25 2 15 1 5 XII VI XII VI XII VI XII VI XII I II III IV V VI VII VIII IX X XI XII I II III IV 1996 1997 1998 1999 2 21 22 Total Sold by the BNB V VI Debt structure Debt on government securities issued for budget deficit financing total including target bonds earmarked for physical persons Government Securities Debt d in Domestic Market * Debt on government securities issued for structural reform (nominal value in BGNí) Debt amount 1997 85 198 86 632 1 971 829 2 822 27 1998 784 959 15 338 1 512 287 2 297 246 1999 881 799 21 546 1 191 928 2 73 727 2 961 132 31 411 811 162 1 772 294 21 1 84 73 32 513 776 61 1 861 34 June 22 1 278 232 29 42 676 82 1 955 34 * Lev equivalent of government securities denominated in foreign currency is based on BNB central exchange rate valid for the last working day of corresponding period.

Secondary Market of Government Securities Government Securities Traded in Domestic Market, Circulating as of 3 June 22 Interest Pending Government securities Currency Total volume rate interest held by number maturity of the issue payment foreign investors BG 2 36 113 BGN 3.7.22 5. 7. 3.7.22 - BG 3 14 29 BGN 3.7.22 12. - - - BG 3 15 26 BGN 3.7.22 12. - - - BG 3 117 3 BGN 8.8.22 2. - - - BG 3 16 24 BGN 5.9.22 12. - - - BG 2 38 119 BGN 2.1.22 5. 7. 2.1.22 - BG 3 124 9 BGN 14.11.22 2. - - - BG 2 3 1114 BGN 1.1.23 5. 6.5 1.7.22 - BG 2 31 114 BGN 5.2.23 5. 9. 7.8.22 - BG 3 13 21 BGN 27.3.23 2. - - - BG 2 32 111 BGN 11.4.23 5. 6.5 11.1.22 - BG 2 35 115 BGN 16.4.23 3. 8. 16.1.22. BG 2 37 98115 BGN 24.4.23 1. 8. 24.1.22 - BG 2 39 98111 BGN 22.5.23 2. 8. 21.11.22 - BG 2 42 96225 BGN 28.5.23 857 142. BIR 27.11.22 - BG 2 43 96223 BGN 1.6.23 95 531. BIR 4.12.22 - BG 2 45 96228 BGN 19.6.23 113 296. BIR 19.12.22 - BG 2 311 98117 BGN 26.6.23 2. 7. 26.12.22 - BG 3 17 22 BGN 26.6.23 2. - - - BG 2 34 1116 BGN 11.7.23 5. 6. 11.7.22 - BG 2 37 111 BGN 16.7.23 3. 8. 17.7.22 - BG 2 36 1111 BGN 1.1.23 5. 6. 1.1.22 - BG 2 31 115 BGN 15.1.23 3. 7.5 16.1.22 - BG 2 36 99115 BGN 24.3.24 2. 9. 25.9.22 - BG 2 39 99119 BGN 22.4.24 1 19. 9. 24.1.22 - BG 2 443 97227 BGN 9.8.24 12 677 99. BIR 12.8.22 - BG 2 473 97224 BGN 13.1.24 1 398 314. BIR 16.1.22 - BG 2 475 97229 BGN 13.1.24 4 555 872. BIR 16.1.22 - BG 2 476 97227 BGN 27.1.24 6 29 865. BIR 3.1.22 - BG 2 31 211 BGN 13.3.25 5. 6.5 13.9.22 - BG 2 39 117 BGN 5.1.25 4. 9. 9.1.22 - BG 2 31 1112 BGN 24.1.26 6. 9. 24.7.22 - BG 2 33 1118 BGN 25.4.26 6. 8. 25.1.22 - BG 2 35 1113 BGN 25.7.26 6. 7. 25.7.22 - BG 2 37 1119 BGN 24.1.26 6. 7. 24.1.22 - BG 2 3 2112 BGN 9.1.27 9. 7. 9.7.22 - BG 2 4 1211 BGN 31.1.28 3. 7.5 31.1.22 - BG 2 4 2219 BGN 16.1.29 8. 7.5 16.7.22 - BG 2 41 2217 BGN 2.5.29 9. 7. 2.11.22 - BG 2 1 92224 BGN 1.1.211 2 476 56.1 BIR+1 1.7.22 - BG 2 42 2215 1 BGN 17.4.212 65. 7.5 17.1.22 - BG 2 99 93226 BGN 1.7.217 2 34 932.31 BIR 1.7.22 - BG 2 98 93228 BGN 1.1.218 7 335 866.31 BIR 1.1.22 - BG 2 96 93222 BGN 1.12.218 785 475.6 BIR 1.12.22 - BG 2 97 94228 USD 1.1.219 198 888 356.86 LIBOR 1.7.22 8 11 49.87 lev equivalent 2 389 966 367.95 15 92 482.76 BG 2 4 99223 EUR 1.1.219 126 536 961.59 EURIBOR 1.7.22 35 236 426.1 lev equivalent 2 247 484 785.59 68 916 459.8 in BGN, total: 1 925 991 916.22 84 819 41.85 1 Tap issue. Total volume was not entirely sold. 2 Lev equivalent of government securities denominated in foreign currency is based on BNB central exchange rate of foreign currencies against the Bulgarian lev valid for 3 June 22. Government Securities in Foreign Markets as of 3 June 22 Government Interest Maturity Next Number of Nominal value of the debt securities rate date interest interest payments equivalent in million payment in the year EUR BGN USD Number of the issue XS138976385 euro bonds (EUR 25 million) 7.25 1.3.27 1.3.23 1 25. 489. 249.4 Number of the issue XS145624432 global bonds in EUR (EUR 835.5 million) 7.5 15.1.213 15.1.23 1 835.5 1 634. 833.4 Number of the issue XS145623624 global bonds in USD (USD 511.5 million) 8.25 15.1.215 15.7.22 2 512.8 1 2.9 511.5 TOTAL 1 598.2 3 125.9 1 594.3 Note: USD and BGN equivalent is based on BNB central exchange rates of foreign currencies against the Bulgarian lev valid for 28 June 22. 7 6 5 4 3 2 Volume and Structure of Frozen Government Securities XII I II III IV V VI VII VIII IX X XI XII I II III IV 2 21 22 Frozen government securities on registered pledges Frozen government securities as security on budget funds Note: Lev equivalent of government securities denominated in foreign currency is based on BNB central exchange rate valid for the last working day of corresponding period. V VI 2 6/22 ï Government Securities Market

Secondary Market of Government Securities Volume of Transactions in Tradeable Government Securities 115 15 95 85 75 65 55 45 35 25 15 5 I II III IV V VI VII VIII IX X XI XII I II III IV V VI 21 22 Repo agreements Outright sales Transactions on behalf of clients Notes:1. Including for participation in government securities auctions on behalf of nonprimary dealers, companies and individuals. 2. Repo agreements include reverse repo agreements and those concluded during the current day. 3. Transactions in government securities denominated in foreign currency are in BGN at BNB exchange rate of the respective currency on the day of transaction. Term Structure of Transactions in Government Securities Interbank Market 16 14 126.9 137.4 12 11. 96.6 83. 8 6 4 2 17.4 7.8 4. 5.6 5.6 3-month 12-month 2-year up to 7 years up to 25 years June 21 June 22 Note: Transactions in government securities denominated in foreign currency are in BGN at BNB exchange rate of the respective currency on the day of transaction. Volume of Transactions in Government Securities d for Budget Deficit Financing in June Holders of Government Securities d for Budget Deficit Financing as of 3 June 22 Transactions between government securities primary dealers and their clients BGN 17.27 million (46.56%) Local nonbank financial institutions, companies and individuals BGN 179.99 million (14.8%) Insurance companies and pension funds BGN 89.5 million (6.97%) Foreign investors BGN.1 million (.%) Transactions between government securities primary dealers BGN 195.42 million (53.44%) Government banks BGN 312.48 million (24.45%) Notes: 1. Including frozen government securities. 2. Including target issues earmarked for individuals. 3. Preliminary data. Private banks BGN 696.7 million (54.51%) Volume of Transactions in Government Securities Denominated in Foreign Currency d for Structural Reform in June Holders of Government Securities Denominated in Foreign Currency d for Structural Reform as of 3 June 22 Transactions between government securities primary dealers and their clients BGN 44.48 million (4.13%) Local nonbank financial institutions, companies and individuals BGN 79.28 million (12.44%) Foreign investors BGN 84.82 million (13.31%) Private banks BGN 26.47 million (4.86%) Transactions between government securities primary dealers BGN 66.37 million (59.87%) Insurance companies and pension funds BGN 115.22 million (18.7%) Government banks BGN 97.67 million (15.32%) Note: Transactions in government securities denominated in foreign currency are in BGN at BNB exchange rate of the respective currency on the day of transaction. Notes: 1. Including frozen government securities. 2. The lev equivalent is based on BNB exchange rate valid for 3 June 22. 3. Preliminary data. 3 6/22 ï Government Securities Market

Secondary Market of Government Securities Volume and Yield on Deposits in the Interbank Market and Repo Agreements in Government Securities 3.6.22 Deposits 92 25 11.31 1 2.5 1 1.9 94 25 Repo agreements 14 478 1.22 14 478 4.6.22 Deposits 55 262 2.5 2 48 3.5 57 67 Repo agreements 2 2.33 433 3.4 2 433 5.6.22 Deposits 58 6 1.77 1 2 3. 59 62 Repo agreements - 6.6.22 Deposits 67 2 1.53 1 8 2.37 69 Repo agreements 465 3.24 465 7.6.22 Deposits 51 83 1.71 1 1.7 52 83 Repo agreements - 1.6.22 Deposits 52 4 1.72 8 2.2 3 3.27 56 2 Repo agreements - 11.6.22 Deposits 53 8 2.13 2 48 3.5 1 3.7 57 28 Repo agreements 1 25 1.62 292 3.8 1 317 12.6.22 Deposits 52 6 2.57 1 3.1 4 2 3.41 1 3.7 1 3.35 59 62 Repo agreements 2 1 3.4 2 1 13.6.22 Deposits 81 937 2.91 2 3 3.22 84 237 Repo agreements - 14.6.22 Deposits 71 823 9.11 11 5.68 2 7.5 83 23 Repo agreements 693 8.62 3 246 7.72 3 939 17.6.22 Deposits 79 27 9.98 3 9.24 9 6.5 2 4.3 93 27 Repo agreements 2 13.38 2 18.6.22 Deposits 65 9 22.52 7 58 14.66 2 6.5 74 598 Repo agreements 2 2 24.89 3 284 9.6 5 484 19.6.22 Deposits 56 7 11.78 3 8. 59 7 Repo agreements 2 12.17 1 121 1.14 3 121 2.6.22 Deposits 51 75 6.71 2 6.25 53 75 Repo agreements 1 18 9.13 4 7.35 1 418 21.6.22 Deposits 55 74 7.36 4 7. 59 74 Repo agreements 2 59 7.51 1 223 8.62 3 732 24.6.22 Deposits 55 65 7.73 2 2 7.66 7 8. 64 95 Repo agreements 5 143 8.84 5 143 25.6.22 Deposits 5 5 9.6 1 1.5 9 392 8.75 6 992 Repo agreements 1 442 9.13 2 12.17 1 735 9.69 1 7 9.89 6 877 26.6.22 Deposits 57 25 8.66 2 1. 1 6.25 6 25 Repo agreements 3 1.14 3 9.8 1 65 9.63 662 9.63 8 312 27.6.22 Deposits 5 596 6.83 2 194 7.67 1 145 5.28 53 935 Repo agreements 1 96 5.68 1 96 28.6.22 Deposits 53 17 3.43 5 5 5.74 58 67 Repo agreements - Monthly, total Deposits 98 225 242 997 69 15 7 145 12 7 1 312 217 Repo agreements 32 36 8 22 16 858 2 827-6 193 (thousand BGN) 1 day from 2 to 3 days from 4 to 7 days from 8 to 3 days over 3 days Total Volume Yield Volume Yield Volume Yield Volume Yield Volume Yield Volume Notes: 1. Reverse repo agreements excluded from repo agreements volume. 2. Yield is calculated on an annual basis. 3. Transactions in government securities denominated in foreign currency are in BGN at BNB exchange rate on the day of transaction. Yield on Repo Agreements in Government Securities and Interest Rate on Interbank Deposits on a Monthly Basis (June) 1..9.8.7.6.5.4.3.2.1..91.59.8.48.3 1 day up to 3 days up to 7 days up to 1 month Yield on repo agreements Yield on interbank deposits Monthly average-weighted base interest rate.6.58.67.34 4 6/22 ï Government Securities Market

Secondary Market of Government Securities Investments of Nonbank Financial Institutions, Companies and Individuals in Government Securities d for Budget Deficit Financing and for Structural Reform 8 7 6 5 4 3 2 31.XII 3.VI 31.XII 3.VI 31.XII 3.VI 31.XII 3.VI 31.XII 31.I 28.II 31.III 3.IV 31.V 3.VI 31.VII 31.VIII 3.IX 31.X 3.XI 31.XII 31.I 28.II 31.III 3.IV 31.V 1996 1997 1998 1999 2 21 22 Government securities issued for budget deficit financing Government securities issued for structural reform 3.VI Note: Government securities denominated in foreign currency are recalculated at BNB central exchange rate valid for the last working day of corresponding period. Government Securities in Foreign Investor Portfolio 5 45 4 35 3 25 2 15 5 31.XII 3.VI 31.XII 3.VI 31.XII 3.VI 31.XII 3.VI 31.XII 3.VI 31.XII 31.I 28.II 31.III 3.IV 31.V 1996 1997 1998 1999 2 Government securities issued for budget deficit financing (including target issues) Note: Government securities denominated in foreign currency are recalculated at BNB central exchange rate valid for the last working day of corresponding period. 3.VI 21 22 Government securities issued for structural reform Bid Quotations of Bulgarian Brady Bonds and USD-denominated Government Securities d under ZUNK (USD) 95 9 85 8 75 7 3 4 5 6 7 1 11 12 13 14 17 18 19 2 21 24 25 26 27 28 June 22 ZUNK DISC FLIRB IAB Source: Reuters. Bid and Offer Quotations of Bulgarian Five-year Eurobonds (EUR) 13 Offer Quotations of Bulgarian Brady Bonds and USD-denominated Government Securities d under ZUNK (USD) 95 12 9 11 85 8 75 99 3 4 5 6 7 1 11 12 13 14 17 18 19 2 21 24 25 26 27 28 June 22 bid offer 7 3 4 5 6 7 1 11 12 13 14 17 18 19 2 21 24 25 26 27 28 June 22 ZUNK DISC FLIRB IAB Source: Reuters. Yield on Five-year Euro bonds 11.9 1.9 9.9 8.9 7.9 6.9 5.9 4.9 3.9 Turkey Romania Bulgaria Lithuania Greece XI.21 Source: Reuters. Spain XII.21 I.22 II.22 III.22 IV.22 V.22 VI.22 14.38 8.85 6.83 5.65 4.73 4.7 Source: Reuters. 1 9 8 7 6 Bulgaria Poland Hungary 5 Germany Source: Reuters. Romania Lithuania Yield on Ten-year Euro bonds 4 III.22 IV.22 V.22 VI.22 8.92 8.27 6.13 5.83 5.39 4.93 5 6/22 ï Government Securities Market

Government Securities Primary Dealers L I S T of Financial Institutions Approved by the Minister of Finance and the Governor of the Bulgarian National Bank to Act as Government Securities Primary Dealers for the Period 1 July 31 December 22 RÂuters page containing Financial institution government securities quotations Website 1. BIOCHIM COMMERCIAL BANK CBBB 1-3 www.biochim.com 2. BNP PARIBAS (BULGARIA) BSBD 1-3 www.iccs.bas.bg/instfr/bnp/bnp.html 3. BULBANK BGTB 1-3 www.bulbank.bg 4. BULGARIA-INVEST COMMERCIAL BANK BGIN 1-3 www.allianz.bg 5. BULGARIAN POST BANK BPBB 1-3 www.postbank.bg 6. CENTRAL COOPERATIVE BANK SCCB 1-3 www.ccbank.bg 7. CITIBANK N. A. Sofia Branch CSOF --- 8. CORPORATE COMMERCIAL BANK BGIB 1-3 --- 9. DEMIRBANK ( BULGARIA) DBBG 1-3 www.demirbank.bg 1. DSK BANK SSBG 1-3 www.dskbank.bg 11. ECONOMIC AND INVESTMENT BANK RIBB 1-3 www.eibank.bg 12. EVROBANK EBSF 1-3 www.eurobank.bg 13. FIRST EAST INTERNATIONAL BANK EIBG 1-3 --- 14. FIRST INVESTMENT BANK BFIB 1-3 www.fibank.bg 15. HEBROS COMMERCIAL BANK Plovdiv AGBG 1-3 www.hebros.bg 16. HVB BANK, BULGARIA HVSO 1-3 --- 17. ING BANK N. V. Sofia Branch INBS 1-3 www.ing.bg 18. MUNICIPAL BANK SMBK 1-3 --- 19. NEFTINVESTBANK OBBG 1-3 www.nib.bg 2. RAIFFEISENBANK (BULGARIA) RBBS 1-3 www.raiffeisen.bg 21. ROSEXIMBANK REBS 1 www.roseximbank.bg 22. SG EXPRESSBANK Varna EBVB 1 www.sgexpressbank.bg 23. UNIONBANK UNBS 1-3 www.unionbank.bg 24. UNITED BULGARIAN BANK UBBB 1-3 www.ubb.bg 25. BULBROKERS BULB 1-3 www.bulbrokers.com 26. ELANA ELAN 1-3 www.elana.net 27. EUROFINANCE EUFI 1-3 www.euro-fin.com 28. SII INVEST SIIB 1 www.dzi.bg NONPRIMARY DEALERS OF GOVERNMENT SECURITIES WITH REGISTERS AT THE BNB UNDER ß 6 OF THE ADDITIONAL PROVISIONS OF REGULATION No. 5 OF THE MF AND BNB ENCOURAGEMENT BANK SUMMARIZED QUOTATION PAGES BGTSY= BGZYNK= BGTSYM= BNB pages containing information on interbank government securities market BGBNB 5 BGBNB 6 BGBNB 9 BNB pages containing information on average-weighted prices of traded government securities issues BGBNB 1 BGBNB 11 BGBNB 12 BGBNB 13 www.nasbank.bg Bulgarian National Bank, 22, Fiscal Services Department 1 Alexander Battenberg Square, Sofia This issue includes materials and data up to 4 July 22. Telephone: 9145-1486; Fax: 98 2425, 98 6493 The contents of the Government Securities Market Bulletin may Computer Typeset: Publications Division of the BNB be quoted or reproduced without further permission. Due Printed by BNB Printing Center acknowledgment is requested. 6 6/22 ï Government Securities Market

Primary Market of Government Securities TREASURY BILLS number date maturity Number of days amount offered by the MF GOVERNMENT SECURITIES SOLD AT THE AUCTIONS, CIRCULATING AS OF 3 JUNE 22 Nominal value Price per BGN nominal value Average yield to maturity Amount Discount Average Minimum Maximum Average actually transferred price of price of price of price of Average annual yield Average effective annual yield BG 3 14 29 3.4.22 3.7.22 91 12. 31 83 5. 12. 11 877 481.99 122 518.1 98.93 98.95 99.1 98.98 1.8 1.3 4.28 4.8 4.35 4.14 4.8 BG 3 15 26 3.4.22 3.7.22 91 12. 26 34. 12. 11 882 447. 117 553. 98.96 98.99 99.7 99.2 1.5.99 4.16 3.92 4.22 3.97 3.92 BG 3 16 24 5.6.22 5.9.22 92 12. 26 677. 12. 11 887 114. 112 886. 99. 99.2 99.12 99.6 1.1.95 3.95 3.71 4.1 3.76 3.71 Three-month issues, total 36. 84 847 5. 36. 35 647 42.99 352 957.1 BG 3 117 3 8.8.21 8.8.22 365 2. 39. 2. 19 27 61. 972 39. 94.94 94.97 95.32 95.14 5.33 5.11 5.26 5.4 5.25 5.4 4.59 BG 3 124 9 14.11.21 14.11.22 365 2. 3 3. 2. 19 13 87. 986 13. 94.92 94.85 95.21 95.7 5.35 5.19 5.28 5.11 5.28 5.11 4.63 BG 3 13 21 27.3.22 27.3.23 365 2. 4 42. 2. 19 39 264.2 96 735.98 95.1 95.13 95.65 95.2 5.15 5.4 5.8 4.97 5.8 4.97 4.43 BG 3 17 22 26.6.22 26.6.23 365 2. 21 7. 2. 18 999 2. 1 8. 94.93 94.45 95.2 95. 5.34 5.26 5.27 5.19 5.27 5.19 3.71 One-year issues, total 8. 131 42. 8. 76 79 944.2 3 92 55.98 Base interest rate as of issue date (payment date) Short-term government securities, total 116. 216 267 5. 116. 111 726 987.1 4 273 12.99 Note: Yield on government securities is calculated according to the methodology applied by the MF and yield conventions adopted as of 1 January 21: /36 for treasury bills and / for treasury bonds. 1 6/22 ï Government Securities Market

Primary Market of Government Securities TREASURY BONDS number date maturity Number of days amount offered by the MF Nominal value Amount actually transferred * Tap issue. Notes: 1. Yield on government securities is calculated according to the methodology applied by the MF and yield conventions adopted as of 1 January 21: /36 for treasury bills and / for treasury bonds. 2. Accrued interest as of payment date is not included in Price per BGN nominal value column for all tap issues. Discount Premium Average price of Price per BGN nominal value Minimum price of Maximum price of Average price of Interest accrued per BGN nominal value Annual interest rate Average annual yield *BG 2 31 114 First openinig 9.2.2 5.2.23 1 92 5. 34 765. 5. 5 59 829.98. 59 829.98 98.78.7 11.64 11.2 9. 9.48 8.54 3.4 Second openinig 18.2.2 5.2.23 15. 59 465. 15. 15 22 152.. 187 152. 99.93.69 12.41 11.25.22 9. 9.3 8.52 3.23 Third openinig 25.2.2 5.2.23 15. 48 516 6. 15. 15 139 2.. 8 7. 99.59.25 11.43.54.39 9. 9.16 8.79 3.11 Fourth opening 6.3.2 5.2.23 15. 49 498. 15. 15 181 225.1. 85 225.1 99.72. 11.38.57.64 9. 9.11 8.78 3.3 *BG 2 35 115 First openinig 19.4.2 16.4.23 1 92 1. 44 35. 1. 9 967 649.99 44 35.1 12. 98.58 99.22.4 99.68 8. 8.55 8.12 3.6 Second openinig 17.5.2 16.4.23 1. 42 182 8. 1. 1 88 398.9 64.4 27 462.49 99.59 99.92.59.27.61 8. 8.16 7.9 3.48 Third openinig 21.6.2 16.4.23 1. 33 78 5. 1. 1 125 875.1 25 874.99 13 75. 98.15 98.75.39 99.88 1.38 8. 8.72 8.5 4.17 *BG 2 37 111 First openinig 19.7.2 16.7.23 1 92 1. 37 92. 1. 1 66 882.1. 66 882.1.1.18 11.59.67 8. 8. 7.74 3.44 Second openinig 16.8.2 16.7.23 1. 52 9. 1. 1 24 65.99. 143 65.99.8 11.12 12.41 11.43.61 8. 7.7 7.46 3.44 Third openinig 2.9.2 16.7.23 1. 4 63. 1. 1 357 193.5. 219 193.5 11.33 11.86 12.42 12.19 1.38 8. 7.5 7.17 3.93 *BG 2 31 115 First openinig 18.1.2 15.1.23 1 92 1. 42 68. 1. 1 144 39.51. 144 39.51.71 11.2 11.92 11.44 7.5 7.23 6.96 4.13 Second openinig 15.11.2 15.1.23 1. 35 393. 1. 1 21 631.4. 143 631.4.81 11.22 11.94 11.44.58 7.5 7.19 6.96 4.5 Third openinig 2.12.2 15.1.23 1. 32 922. 1. 1 298 642.49. 169 642.49 11.23 11.53 11.84 11.7 1.29 7.5 7.4 6.86 4.54 *BG 2 31 211 First openinig 13.3.22 13.3.25 1 96 25. 72 75. 25. 25 44 6.. 44 6. 11.7 11.27 12.45 11.62 6.5 6.1 5.9 4.43 Second openinig 12.6.22 13.3.25 25. 44 151. 25. 25 823 85.1. 418 85.1 11.35 11.3 12.57 11.68 1.62 6.5 6. 5.88 3.71 Three-year issues, total 19. 671 291 45. 19. 193 283 45.99 7 289.4 2 175 835.39 Base interest rate as of issue date 3 6/22 ï Government Securities Market

TREASURY BONDS number date maturity Number of days amount offered by the MF Primary Market of Government Securities Nominal value Amount actually transferred * Tap issue. Notes: 1. Yield on government securities is calculated according to the methodology applied by the MF and yield conventions adopted as of 1 January 21: /36 for treasury bills and / for treasury bonds. 2. Accrued interest as of payment date is not included in Price per BGN nominal value column for all tap issues. Discount Premium Average price of Price per BGN nominal value Minimum price of Maximum price of Average price of Interest accrued per BGN nominal value Annual interest rate Average annual yield BG 2 37 98115 3.4.1998 24.4.23 1 82 1. 3 65. 1. 871 425. 128 575.. 78.12 83.5 95. 87.14 8. 14.28 11.46 5.37 BG 2 39 98111 28.5.1998 22.5.23 1 82 2. 3 44. 2. 1 695 51. 34 49.. 81.19 83. 87.45 84.78 8. 13.28 12.16 5.12 BG 2 311 98117 2.7.1998 26.6.23 1 82 2. 2 7. 2. 1 523 998. 476 2.. 75.98 7. 81. 76.2 7. 13.83 13.75 5.2 BG 2 36 99115 31.3.1999 24.3.24 1 82 2. 2 795. 2. 1 727 77. 272 923.. 83.68 79.39 99.1 86.35 9. 13.62 12.79 4.79 BG 2 39 99119 29.4.1999 22.4.24 1 82 3. 1 19. 1 19. 932 64. 257 36.. 78.37 69. 89. 78.37 9. 15.37 15.37 4.63 *BG 2 39 117 First openinig 11.1.2 5.1.25 1 82 1. 46 78. 1. 9 878 386. 121 614.. 93.48 97.66 12.21 98.78 9. 1.72 9.31 4.1 Second openinig 8.11.2 5.1.25 15. 35 511 15. 15. 15 47 52.52 56 169.18 171.7 98.88 99.25 11.97 99.63.69 9. 9.28 9.9 4.46 Third openinig 13.12.2 5.1.25 15. 31 74. 15. 15 212 418.5 32 481.5 12 4. 99.37 99.33 11.14 99.87 1.55 9. 9.16 9.3 4.58 *BG 2 31 1112 First openinig 24.1.21 24.1.26 1 826 2. 95 924 14. 2. 2 33 16.1. 33 16.1.78 11.24 13.23 11.65 9. 8.8 8.59 4.29 Second openinig 28.2.21 24.1.26 2. 87 276. 2. 21 92 48.2. 92 48.2 13.64 14.31 15.64 14.6.86 9. 8.1 7.87 4.21 Third openinig 28.3.21 24.1.26 2. 7 43. 2. 21 589 9.1. 1 279 9.1 15.26 15.73 18.7 16.4 1.55 9. 7.71 7.44 4.15 *BG 2 33 1118 First openinig 25.4.21 25.4.26 1 826 2. 55 846. 2. 2 722 374.5. 722 374.5 12.16 12.55 14.37 13.61 8. 7.47 7.13 4.36 Second openinig 23.5.21 25.4.26 2. 6 5. 2. 21 18 29.99. 896 29.99 13.93 14.22 15.3 14.48.61 8. 7.5 6.92 4.47 Third openinig 27.6.21 25.4.26 2. 49 5. 2. 21 24 695.. 932 695. 14.24 14.41 15.15 14.66 1.36 8. 6.98 6.88 4.47 *BG 2 35 1113 First openinig 25.7.21 25.7.26 1 826 2. 51 65. 2. 2 158 465.. 158 465..24.38 12.2.79 7. 6.94 6.81 4.55 Second openinig 22.8.21 25.7.26 2. 41 95. 2. 2 128 33. 22 883.33 43 213.33 98.88 99.24.82.1.54 7. 7.27 6.98 4.75 Third openinig 26.9.21 25.7.26 2. 46 47. 2. 2 321 98. 37. 8 35. 99.77 99.87 11.62.4 1.21 7. 7.6 6.9 4.76 *BG 2 37 1119 First openinig 24.1.21 24.1.26 1 826 2. 43 4. 2. 2 43 64.. 43 64. 99.74 99.86.88.22 7. 7.6 6.95 4.63 Second openinig 28.11.21 24.1.26 2. 55 4. 2. 2 26 23. 34. 72 57. 99.52 99.91.9.36.67 7. 7.12 6.91 4.79 Third openinig 27.12.21 24.1.26 2. 28 75. 2. 2 285 45. 19 52. 58 97. 99.74 99.4 11.62.2 1.23 7. 7.6 6.95 4.65 *BG 2 3 2112 First openinig 9.1.22 9.1.27 1 826 25. 62 85. 25. 25 176 95.1. 176 95.1.13.4 11.89.71 7. 6.97 6.83 4.78 Second openinig 13.2.22 9.1.27 2. 72 47. 2. 2 53 665.1. 396 665. 11.37 11.65 12.48 11.98.67 7. 6.67 6.53 4.54 Third openinig 1.4.22 9.1.27 25. 47 8. 25. 25 939 22.1. 51 72.1 11.6 11.72 12.62 12.1 1.75 7. 6.62 6.52 4.8 Fourth openinig 8.5.22 9.1.27 2. 36 25. 2. 2 87 825.. 414 825. 11.8 11.83 12.58 12.7 2.28 7. 6.57 6.51 3.92 Five-year issues, total 38. 1 31 761 245. 378 19. 386 58 486.58 1 692 728.1 7 41 714.58 Medium-term government securities, total 87. 2 347 913 195. 868 19. 884 488 544.94 1 763 17.41 12 252 562.36 Base interest rate as of issue date 4 6/22 ï Government Securities Market

Primary Market of Government Securities TREASURY BONDS number date maturity Number of days amount offered by the MF Nominal value Amount actually transferred * Tap issue. ** Tap issue. Total volume was not entirely sold. Notes: 1. Yield on government securities is calculated according to the methodology applied by the MF and yield conventions adopted as of 1 January 21: /36 for treasury bills and / for treasury bonds. 2. Accrued interest as of payment date is not included in Price per BGN nominal value column for all tap issues. Discount Premium Average price of Price per BGN nominal value Minimum price of Maximum price of Average price of Interest accrued per BGN nominal value Annual interest rate Average annual yield *BG 2 4 1211 First openinig 31.1.21 31.1.28 2 557 3. 53 672. 18 93. 18 68 39. 861 961.. 93.7 94.7. 95.45 7.5 8.85 8.37 4.63 Second openinig 5.12.21 31.1.28 11 7. 54 615. 11 7. 1 949 294. 2 41.. 96.74 97.8 99.51 98.19.72 7.5 8.12 7.84 4.65 *BG 2 4 2219 First openinig 16.1.22 16.1.29 2 557 3. 16 295. 3. 3 139 814.98. 139 814.98 99.56.2 12.1.47 7.5 7.58 7.41 4.78 Second openinig 23.1.22 16.1.29 3. 99 331. 5. 5 798 218.49. 728 218.49.98 11.27 12.72 11.46.14 7.5 7.32 7.23 4.78 Seven-year issues, total 11 7. 313 913. 11. 19 955 366.47 1 62 371. 868 33.47 *BG 2 41 2217 First openinig 2.2.22 2.5.29 2 646 3. 63 35. 3. 29 715 665. 284 335.. 98.53 98.85 11.12 99.5 7. 7.26 7.17 4.54 Second openinig 2.3.22 2.5.29 25. 58 812. 25. 25 77 873.2 62 554.2 5 427.4 98.79 99.16 11.1 99.77.54 7. 7.21 7.4 4.43 Third openinig 15.5.22 2.5.29 35. 58 3. 35. 35 368 252.99 195 247.1. 99.3 99.15.27 99.44 1.61 7. 7.17 7.1 3.92 Seven-year and three months issues, total 9. 18 462. 9. 9 161 791.19 542 136.21 5 427.4 **BG 2 42 2215 First openinig 17.4.22 17.4.212 3 653 15. 72 8. 15. 14 72 665.1 279 334.99. 95.24 96.54 11.4 98.14 7.5 8.21 7.77 4.8 Second opening 24.4.22 17.4.212 25. 59 589 6. 25. 24 227 272.51 87 727.49. 95.47 95.94 97.91 96.77.14 7.5 8.17 7.97 4.8 Third openinig 19.6.22 17.4.212 25. 42 338 5. 25. 24 32 575.1 1 19 925.. 94.84 95.33 97.29 95.92 1.29 7.5 8.27 8.1 3.71 Ten-year issues, total 65. 174 8. 65. 63 25 512.53 2 16 987.48. Long-term government securities, total 256 7. 668 383. 265. 263 367 67.19 3 711 494.69 873 46.87 Government securities sold at auctions, total 1 242 7. 3 232 563 345. 1 249 19. 1 259 583 22.14 9 747 525.9 13 126 23.23 Base interest rate as of issue date 5 6/22 ï Government Securities Market

Secondary Market of Government Securities Volume of Government Securities Transactions in the Secondary Market and Securities Transactions in the Bulgarian Stock Exchange and Over-the-counter Market Date Transactions between primary dealers Transactions between primary dealers and their clients Transactions Privatization Transactions in securities in government June Repo agreements Outright sales Article 14 Article 15 Article 2 Article 21 transactions Bulgarian Stock Over-the-counter securities, total Exchange market Total 3 27 38 19 4 83 55 12 879 872 4 191 37.23 - - - 48 192 649 29 82.4 12. 29 922.4 4 2 461 19 6 891 995 3 55 3 845 25 55 - - 35 298 21 785 314.1-785 314.1 5-14 57 63 7 72 366 6 3 432 1 269 767 864 6-3 77 173 238 457.36 2 25.4 24 662.76 6 2 929 9 16 317 882 3 784 844 2 679 417-15 - 25 862 43 288 273.2 1 21.25 289 483.45 7-3 83 77 11 359 62 8 59 63 - - - 22 53 2 51 46.12 1 43.5 52 89.62 1-26 6 3 957 61-314 361-5 131 422 171 147.2-171 147.2 11 3 3 7 156 69 4 231 751 4 383 539 2 354 856 - - 21 426 836 285 65.76 4. 285 69.76 12 3 374 8 265 365 5 762 27 1 29 88 555 555 3-28 286 278 4 561 866.78 4 63.18 4 565 929.96 13-3 69 22 9 23 44 3 414 273 - - 15 813 933 562 62.4 546. 562 68.4 14 3 939 146 4 369 548 6 27 532 1 912 415 - - - 16 428 641 1 488 389.11 932.95 1 489 322.6 17 2 693 5 119 981 1 2 5 859 234 3 56 431 - - 17 928 645 1 1 43.35 12 555.74 1 13 599.9 18 7 916 99 1 2 3 17 532 974 539 - - - 13 199 61 37 641.31 12.5 37 761.81 19 7 357 23 11 72 8 664 54 4 591 56 1 533 333 - - 33 866 636 1 165 948. 1 419.2 1 167 367.12 2 3 883 3 533 445 5 91 26 2 539 129 - - - 15 46 834 32.57-32.57 21 7 973 624 5 465 5 625 83 4 769 957 346 182 - - 24 18 593 1 323 363.57 93. 1 324 293.57 24 7 143 6 448 798 2 752 182 7 414 636 - - 16 941 133 45 51.54-45 51.54 25 16 454 5 6 92 328 4 81 65 1 56 311 782 332 - - 29 636 671 19 766 735.56-19 766 735.56 26 1 389 979 12 498 456 5 1 341 745 1 66 694-4 36 874 19 176.9 4 736.8 113 913.7 27 7 36 2 557 1 257 9 4 119 94 837 3 - - 16 77 834 731 553.36-731 553.36 28 3 3 926 1 45 9 371 14 761 579 2 5-2 63 683 738 192.15 5 16.26 743 28.41 Total 135 159 272 126 629 631 13 324 47 93 28 11 14 168 395 4 228 367-476 538 171 33 872 589 143 327 34 15 915 Average volume of government securities transactions* 19 855 757.14 * Volume calculated on the basis of 24 operating primary dealers. Notes: 1. The amount of competitive and noncompetitive on behalf of companies and individuals of BGN 5,632,891 is included. 2. The amount of for participation in government securities auctions on behalf of nonprimary dealers of BGN 1,3, is included. 3. The volume of repo agreements includes reverse repo agreements and repo agreements concluded during the current day. 4. Transfer transactions of government securities to the MF account used as legal tender in privatization are considered to be privatization transactions. 5. Transactions in USD-denominated government securities are in levs at the exchange rate quoted by the BNB for the respective currency on the day of transaction. 6. Banking Department data on the volume of transactions (at market value) in the Bulgarian Stock Exchange and Over-the-counter market. 6/22 ï Government Securities Market

Information on subscription results for the exchange of long-term USD-denominated government bonds of issue No. BG 2 97 94 228 (issued under Article 5 of the Law on Settlement of Nonperforming Credits Negotiated prior to 31 December 199) for long-term euro-denominated government securities of issue No. BG 2 4 99 223: 1. Subscription begins on 3 June 22 2. Deadline of the subscription 12 June 22, 17: 3. Date of the exchange 18 June 22 4. Minimal amount per participant USD 1, face value 5. Divisibility of the face value Divisible by USD 1, 6. Conversion exchange rate 1.6265 7. Face value of the for issue No. BG 2 97 94 228 USD 19,85,. 8. Face value of the by the MF for issue No. BG 2 97 94 228 USD 19,85,. 9. Face value of government securities from issue No. BG 2 4 99 223 EUR 21,93,63. 1. Amount of interest accrued on issue No. BG 2 97 94 228 USD 257,797.32 11. Amount of interest accrued on issue No. BG 2 4 99 223 EUR 367,819.47 Note: Payment on interest accrued is based on exchange rates (USD/BGN, EUR/BGN) valid for the day of exchange. 6/22 ï Government Securities Market