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UZBEKISTAN 620 Number of SOEs to be privatized by 2025 447 400 SQ KM Resource rich Geography larger than Japan Germany the UK or California Most populous Central Asian Country 35M age dependency 29 Median ratio trending down 97 5 8 Literacy rate and highly qualified work force World Bank GDP forecast of 2023 highest in Central Asia IMF projects 5 for same period 130 BCE Heart of the Silk Road for millennia TOP 10 82 Global rank Manufacturing for gold and uranium production as percent of total industrial output There is genuine enthusiasm for what is happening in Uzbekistan now It is clear that the environment has completely changed that reform is indeed irreversible EBRD Uzbekistan s progress has been impressive and as a late reformer it can benefit from the lessons learned by other transition economies The World Bank President Mirziyoyev has improved relations with Uzbekistan s neighbors and introduced wide ranging economic judicial and social reforms U S CIA If you missed out on investing in Russia in the early 1990 s you have the equivalent opportunity in Uzbekistan 2023 but with a focus to create long term fairness more like Poland s experience It s a once in ageneration opportunity for investors Sergei Zamascikov MOSAIC FINANCIAL UZBEKISTAN No other country travelled as far as Uzbekistan in 2019 The Economist when naming Uzbekistan the Country of the Year INSTITUTIONAL ACCESS TO GROWTH OPPORTUNITIES IN UZBEKISTAN mosaic financial uz mosaic financial uz

WHY UZBEKISTAN Emerging Markets was coined in 1981 Uzbekistan has a similar profile today to those countries at that time Reforms have taken hold generating strong economic growth Capital Markets have lagged but are now poised to explode as stock market liquidity grows listings increase and international capital inflows pick up steam WHY MOSAIC FINANCIAL Mosaic provides a bridge for institutional investors looking for an in country firm to provide developed market experience to the investment process Uzbek talent fills the Tashkent office with dedicated professionals focused on developing capital markets MoFi manages public and private equity funds while functioning as an investment bank participating in the privatization of the country s crown jewels OPPORTUNITIES ASSET MANAGEMENT Uzbek Capital Markets Fund has a two year track record with significant frontier market outperformance Uzbek Opportunities Fund uses a PIPE strategy to build roll up plays in certain sectors INVESTMENT BANKING Mandates for IPOs to list on TSE as well as privatization opportunities of state owned companies PRODUCT CREATION Exchange listed gold fund asset backed securities mutual funds for private equity projects BROKERAGE Local accounts for foreign investors seeking attractive IPOs and stock market opportunities RESEARCH Highly qualified internationally educated MBAs producing company specific and macro research Additional support from experienced staff in Mosaic Alliance U S offices EXECUTIVE TEAM ROBERT JENSEN Managing Director 30 years international financial markets Focus on strategic growth in Uzbekistan HAITHAM HUSSEIN Director of Strategy 17 years in major industrial sector development Focus on strategic business development ALISHER SAMATOV CEO 10 years in Uzbekistan Financial Markets Focus on brokerage growth and research coverage SHERZOD BADALBOEV COO State Assets Management Agency Focus on Privatization opportunities and brokerage operations NATHAN BELL Manager of Direct Investments 35 years private equity investment Focus on Private Equity opportunities in Uzbekistan BRAD JENSEN CEO of Mosaic Alliance 35 years in global financial markets Focus on asset management