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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of March 14, 2018 No. 186

About bond issues of external state loans

(as amended of the Resolution of the Cabinet of Ministers of Ukraine of 28.04.2021 No. 414)

According to Article 16 of the Budget code of Ukraine and the Law of Ukraine "About securities and the stock market" the Cabinet of Ministers of Ukraine decides:

1. To the Minister of Finance or person who fulfills its duties to perform in case of need annually within amount of the state borrowings determined by the law on the Government budget of Ukraine and with limiting observance of amount of public debt for the end of budget period bond issues of external state loans, namely: short-term bonds of external state loans, medium-term bonds of external state loans, long-term bonds of external state loans - with the main conditions of releases and procedure approved by this resolution.

2. Approve such which are applied:

main conditions of releases and procedure for placement of short-term bonds of external state loans;

main conditions of releases and procedure for placement of medium-term and long-term bonds of external state loans.

3. To the Ministry of Finance depending on market conditions:

To determine 1):

time of implementation and amounts of release, including additional bond issue of external state loans;

final repayment date, the repayment schedule, settlement currency on bonds of external state loans and currency of bond issue of external state loans;

the income (discount) according to short-term bonds of external state loans by results of pricing;

interest rate of medium-term and long-term bonds of external state loans by results of pricing;

conditions of bond issues of external state loans which are not determined by the main conditions of releases and procedure approved by this resolution affirm the order of the Ministry of Finance;

2) to create the prospectus of the issue of bonds of external state loans based on offers of the ministries and other authorities, the memorandum of placement or other documents which are used for implementation of any bond issue of external state loans;

3) to approve the main conditions of transactions with public debt which are performed by the Minister of finansovila person fulfilling its duties according to the Budget code of Ukraine;

To provide 4) annually in the bill on the Government budget of Ukraine the means necessary for servicing and bond redemption of external state loans;

5) in case of need:

hold the exit presentations (road show) for the purpose of provision of information to investors in the bond of external state loans and/or forming of demand for bonds of external state loans, including with participation of representatives of the ministries, National Bank (in coordination);

attract subjects of managing to provision of underwriting, agency services, services lead managers, services in trust management, services in ensuring implementation of listing on the stock exchanges, the financial, rating, information, consulting, legal, payment and other services necessary for implementation of bond issues of external state loans, at the expense of means of the government budget within budget settings on servicing of public debt.

4. Authorize the Minister of Finance or person fulfilling its duties, to sign the relevant contracts and to sign other documents connected with implementation of the state external borrowings by bond issue of external state loans and/or implementation of transactions with public debt.

Prime Minister of Ukraine
V. Groysman

Approved by the Resolution of the Cabinet of Ministers of Ukraine of March 14, 2018 No. 186

Main conditions of releases and procedure for placement of short-term bonds of external state loans

1. Nominal value of one short-term bond of external state loans can be expressed in national or foreign currency in the amount which is integer, to multiple $1 thousand monetary units.

2. According to short-term bonds of external state loans the interest rate of the income is not established.

3. Short-term bonds of external state loans according to the decision of the Ministry of Finance can be placed by public or private placement. Within the existing series additional short-term bonds of external state loans can be placed. Short-term bonds of external state loans can join in the register of foreign stock exchange.

4. Short-term bonds of external state loans are discount bonds and are placed among physical persons and legal entities at the price below their nominal value. The difference between the price of acquisition and nominal value of the bond is paid to the owner of the short-term bond during its repayment and constitutes the income (discount) according to the short-term bond. The price and other commercial conditions (the nominal main amount, currency of nominal and payment, the income (discount) and final repayment date) of each new series of short-term bonds are determined by the Ministry of Finance by results of pricing taking into account, in particular, such factors: dynamics of trade, the prices and profitability of the market concerning repayment period of outstanding series of the Ukrainian debt securities; the demand for each new series of short-term bonds stated by investors during collection of requests or otherwise; dynamics of trade, prices and market profitability of debt securities of other sovereign issuers; dynamics of trade, price and profitability of the market of debt

securities with the rating comparable to the rating of Ukraine; the planned amount of release and coefficient of excessive subscription which exceeds the planned amount of release; and also information provided lead managers and/or financial advisers.

5. Payments on repayment and payment of short-term bond yield of external state loans are performed at the expense of the means provided by the law on the Government budget of Ukraine for repayment and servicing of public debt in non-cash form into accounts of the payment agent, trustee or into accounts of clearing systems according to the signed agreements.

6. Other conditions of releases of short-term bonds which are not determined by these main conditions are determined by the Ministry of Finance and affirm its orders, are established by the conditions stated in the prospectus of the issue of the corresponding short-term bonds of external state loans and other documents, effectual in law.

Approved by the Resolution of the Cabinet of Ministers of Ukraine of March 14, 2018 No. 186

Main conditions of releases and procedure for placement of medium-term and long-term bonds of external state loans

1. Nominal value of one medium-term and long-term bond of external state loans (further - bonds of external state loans) can be expressed in national or foreign currency in the amount which is integer, to multiple $1 thousand monetary units.

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