1. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 1 Investment Attractiveness Index with the support of the InMind research company EBA Investment Attractiveness Index (5th wave) Conducted by EBA with the support of InMind research company

2. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 2 Investment Attractiveness Index with the support of the InMind research company Project summary The results of 5 th wave of investment climate in Ukraine tracking research. Methodology: The EBA Investment Attractiveness Index is assessed as the mean value based on the following five questions:  What do you think about the investment climate in Ukraine?  How would you estimate the investment climate for your company in Ukraine at the moment compared to the previous three months?  What are your expectations of the investment climate in Ukraine over the next three months?  In your opinion, would it be profitable for new entrants to invest in Ukraine over the next three months?  What are your expectations of the business environment of your primary industry over the next three months? Participants: CEOs of EBA members companies Timing: September, 2 – 30, 2009 Survey Implementation: the Survey was conducted by EBA with the support of InMind research company

3. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 3 Investment Attractiveness Index with the support of the InMind research company Key findings

4. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 4 Investment Attractiveness Index with the support of the InMind research company Key findings Investment Climate in Ukraine Investment Climate Dynamics: last 3 months Investment Climate Dynamics Expectations: next 3 months Profitability for new entrants: next 3 months 2,3 2 nd wave 1,8 2,2 2,3 General EBA Index 2,22 Investment Climate of Primary Industry: next 3 months 2,5 3,1 1 st wave 2,8 3,1 3,4 3,3 General EBA Index 3,14 2,0 3 rd wave 2,1 2,2 2,4 General EBA Index 2,22 2,4 2,3 4 th wave 2,7 2,8 2,7 General EBA Index 2,64 2,7 2,2 5 th wave 2,5 2,6 General EBA Index 2,56 2,9

5. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 5 Investment Attractiveness Index with the support of the InMind research company Key findings (September, 3-7) (September, 8-21) (September, 22-28) (September, 29-October,2) N=42N=26N=50 N=33 (October, 23-31) N=53 (January, 19 – February, 12) N=103 (April, 6 – May, 14) N=78 (September, 2-30) N=59

6. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 6 Investment Attractiveness Index with the support of the InMind research company EBA – Index: Components

7. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 7 Investment Attractiveness Index with the support of the InMind research company Investment Climate in Ukraine Mean = 2,3Mean = 3,1 The Investment Climate in Ukraine is… (5 point scale) Mean = 2,0 0 – + Mean = 2,3 Mean = 2,2

8. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 8 Investment Attractiveness Index with the support of the InMind research company Investment Climate Dynamics: last 3 months Mean = 1,8 Mean = 2,8 Mean = 2,1 0 – + The Investment Climate in Ukraine… (5 point scale) Mean = 2,7Mean = 2,5

9. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 9 Investment Attractiveness Index with the support of the InMind research company Investment Climate dynamics expectations: next 3 months Mean = 2,2 Mean = 3,1 Mean = 2,2 0 – + The Investment Climate in Ukraine… (5 point scale) Mean = 2,8 Mean = 2,6

10. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 10 Investment Attractiveness Index with the support of the InMind research company Profitability for New entrants: next 3 months Mean = 2,3 Mean = 3,4 Mean = 2,4 0 – + Profitability for New Entrants … (5 point scale) Mean = 2,7 Mean = 2,6

11. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 11 Investment Attractiveness Index with the support of the InMind research company Investment Climate of primary industry: next 3 months Mean = 2,5 Mean = 3,3 Mean = 2,4 0 – + Investment climate of primary industry… (5 point scale) Mean = 2,7 Mean = 2,9

12. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 12 Investment Attractiveness Index with the support of the InMind research company Key findings Five-grade scale is used to evaluate the investment climate, where 1 stands for the lowest evaluation and 5 stands for the highest evaluation In the 3 rd quarter of 2009 the EBA Investment Attractiveness Index remained practically at the same level of 2.56 on a 5 point scale with the slight trend to decrease compared to 2.64 in the 2 nd quarter of 2009 During 2009 the Index shows very graduate changes. After the sharp decrease in September 2008 and reaching the lowest marks in October’08 and January’09 the Index slightly grew to 2.6 in April and remains almost unchanged until September’09

13. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 13 Investment Attractiveness Index with the support of the InMind research company Key findings The current investment climate estimation remains as the lowest Index component reaching only 2.2 while the expectation for the primary industries reached the highest score: 2.9. Therefore investors demonstrate more optimistic estimation of the investment climate in their primary industries within the coming 3 months compared to the overall climate. The profitability for the new entrants estimations became more polarized compared to the previous period neutral estimations. There is a tendency of growing gap between past periods versus coming periods expectations evaluations that reveals moderate optimism in investors expectations

14. Образец заголовка Образец текста Второй уровень Третий уровень Четвертый уровень Пятый уровень 14 Investment Attractiveness Index with the support of the InMind research company Thank you!