DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report

Treasury Management Division 4/4/2017

News Highlights Mongolian Economic Main Indicators

Mongolia Indicators Unit 2016.02 2017.02 Year/chg %
Trade relations between Mongolia and UK discussed (montsame.mn) Money Supply (M2) bln.MNT 10,011.00 12,260.70 22%
On March 31, Minister of Foreign Affairs Ts.Munkh-Orgil received Mark Inflation /Year to date/ % 1.20% 2.10% 75.0%
Equilibrated overall balance of
Garnier MP, Parliamentary Under Secretary of State at the Department for bln.MNT (258.50) (211.70) -18%
budget
International Trade, who leads on high value export and investment Trade balance mln.USD 261.20 334.20 27.9%
campaigns in these sectors: financial services, advanced manufacturing Export /accumulated/ mln.USD 613.30 825.30 35%
and aerospace, automotive, bio-economy, consumer, creative and Import /accumulated/ mln.USD 352.10 491.00 39%
education. The dignitaries exchanged views on bilateral ties and trade and
economic cooperation of Mongolia and the United Kingdom. At the Policy rates
meeting, Mongolian Foreign Minister and the UK's International Trade Central Banks' interest rates Latest % Previous % Updated date
Minister discussed the current situation of trade and economic Policy rate of Mongolbank /BOM/14.00 15.00 12/19/2016
cooperation of the two nations as well as possibilities to increase PBC base interest rate (China) 4.35 4.60 10/24/2015
investment and other issues. Mark Garnier, who was on a visit to FED - Federal Funds Rate 1.00 0.75 3/14/2017
Mongolia, met with representatives from the Ministry of Road and ECB - main refinancing rate 0.00 0.05 3/16/2016
Transport Development, Mongolian Stock Exchange, Erdenes Mongol
BOE official bank rate (England) 0.25 0.50 8/4/2016
LLC and Ulaanbaatar BUK JSC to get acquainted with their activities.

World Bank collaborating with Ulaanbaatar to protect investors' rights Bank of Mongolia - Interest corridor
(gogo.mn) Indicators Latest % Previous % Updated date
Officials of the World Bank Representative office in Mongolia and the Overnight repo 17.00 18.00 12/19/2016
capital Ulaanbaatar Administration exchanged information and views on Overnight deposit 13.00 14.00 12/19/2016
how to collaborate to support a capitals council to protect investors Repo 16.00 17.00 12/19/2016
rights within the framework of a project being implemented by the World
Bank in cooperation of the Government of Mongolia. Money market interest rates
Last Friday, March 31, Governor of the Capital and Mayor of Ulaanbaatar Indicators Rates % Daily chg % Yearly chg %
S.Batbold met delegates of the World Bank to discuss the issue. The Libor USD 2M 1.0250 -0.05 25.09
World Bank delegates of the Department of Trade and Competition Libor USD 3M 1.1496 0.17 15.20
introduced that the project would collaborate with the capital in creating a
Libor USD 6M 1.4232 0.31 8.01
mechanism to resolve complaints and proposals of investors through
Libor EUR 2M -0.3693 0.00 -4.45
developing and introducing IT programs to receive investors complaints
Libor EUR 3M -0.3579 -0.60 -6.37
and proposals and to make analysis on them and monitor the solution,
based on the existing system of receiving complaints and proposals in the
capital city as well as developing related regulations. Official exchange rates - BOM Cross rates
Official rates Cross rates 4/4/17 9:55
UB Mayor to support recycling factories (theubpost.mn) USD/MNT 2443.38 EUR/USD 1.0672
Mayor of Ulaanbaatar S.Batbold says he has decided to focus on EUR/MNT 2606.11 GBP/USD 1.2491
improving waste management, especially recycling, to resolve air and soil GBP/MNT 3061.68 USD/CHF 1.0013
pollution in the capital. Last Friday, he visited dumpsites, plastic, and CNY/MNT 354.78 USD/CNY 6.8872
paper recycling factories, and waste treatment facilities around JPY/MNT 21.93 USD/JPY 110.70
Ulaanbaatar to review their status and to address the challenges faced by
waste management companies and find ways to boost recycling. Mongolian Bonds information
Bonds Currency Yield % Last price Daily chg%
Mongol 2018 USD 4.20 99.93 0.013%
USA Mongol 2021 USD 6.42 115.49 -0.016%
Trump signs repeal of U.S. broadband privacy rules Mongol 2022 USD 6.30 94.47 0.013%
US stocks slide as weaker auto sales trouble the market Mongol 2024-Khuraldai bond
USD 7.00 109.48 -0.077%
Manufacturing in U.S. Keeps Expanding at Robust Pace in March Mongol 2018-Dim sum bond
CNY 8.40 98.95 0.019%
Europe DBM-Samurai 2023 JPY 0.97 103.48 -0.053%
IMF chief warns slowing productivity risks living standards drop TDBM-2020 bond USD 6.83 107.45 0.143%
Youth Unemployment Shows Euro-Area Recovery Not Working for All MMC bond USD 13.85 #N/A N/A 0.048%
Industrial producer prices stable in euro area
North Asia Commodity Trading Prices
Manufacturing growth caps strong first quarter, led by China Commodities Latest price Daily chg% Yearly chg%
Trump, Xi will be 'odd couple' at first summit Crude oil /WTI-New York/ $50.28 0.08 -6.40
Dollar wobbles versus yen as risk aversion permeates, RBA awaited Gold Spot /ounce/ $1,256.24 0.22 9.48
Commodity market Copper /LME/ $5,753.00 -1.45 3.93
Crude prices rebound slightly in Asia with API estimates awaited Iron ore /Beijing/ 590.00 0.00 31.11
Iraq has pledged to fully comply with oil cut deal, OPEC chief says Coal /Tianjin/ 1,570.00 0.00 -10.80
OPEC's Barkindo Sees Progress in Oil Cuts as Stockpiles Fall

Sources: bloomberg terminal, 1212.mn, bloombergtv.mn,

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DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report
Treasury Management Division 4/4/2017

Previous day's economic calendars Today's economic calendars

Event Period Forecast Actual Previous Event Time Period Estimated Previous

JN Vehicle Sales YoY Mar -- 13.80% 13.40% EC Retail Sales MoM 05:00 Feb 0.50% -0.10%
Mar F
EC Markit Eurozone Manufacturing PMI 56.20 56.20 56.20 EC Retail Sales YoY 05:00 Feb 1.00% 1.20%
EC PPI YoY Feb 4.20% 4.50% 3.50% US Trade Balance 08:30 Feb -$44.6b -$48.5b
EC Unemployment Rate Feb 9.50% 9.50% 9.60% US Factory Orders 10:00 Feb 1.00% 1.20%
US Markit US Manufacturing PMI Mar F 53.50 53.30 53.40 US Factory Orders Ex Trans 10:00 Feb -- 0.30%
US ISM Manufacturing Mar 57.20 57.20 57.70 US Durable Goods Orders 10:00 Feb F 1.70% 1.70%
US ISM New Orders Mar -- 64.50 65.10 JN Nikkei Japan PMI Services 20:30 Mar -- 51.30
US Construction Spending MoM Feb 1.00% 0.80% -1.00% JN Nikkei Japan PMI Composite 20:30 Mar -- 52.20
JN Monetary Base YoY Mar -- 20.30% 21.40%

Related information of Mongolian Bonds issued on international market (bloomberg)

Amount Price YTM Remaining
Issuer Coupon Issued Date Maturity Date
(mln USD) Bid Ask Bid Ask years (year)
Mongol 2018 500 4.125% 99.73 100.16 4.50 3.90 0.8 5-Jan-13 5-Jan-18
Mongol 2021 500 10.875% 115.10 115.86 6.53 6.32 4.0 6-Apr-16 6-Apr-21
Mongol 2022 1,000 5.125% 94.18 94.79 6.36 6.23 5.7 5-Dec-12 5-Dec-22
Mongol 2024-Khuraldai bond 600 8.750% 109.22 109.73 7.04 6.95 6.9 9-Mar-17 9-Mar-24
Mongol 2018 - Dim sum bond 1 billion CNY 7.500% 98.61 99.29 8.70 8.10 1.2 30-Jun-15 30-Jun-18
DBM - Samurai 2023 30 billion JPY 1.520% 103.32 103.64 0.99 0.94 6.7 16-Dec-13 25-Dec-23
TDBM - 2020 bond 500 9.375% 106.62 107.45 6.97 6.68 3.1 19-May-15 19-May-20
MMC 2017 600 8.875% 63.54 64.62 13.97 13.73 0.0 29-Mar-12 29-Mar-17

Last Prices of Mongolian Bonds issued on international market (Last 3 months)

Mongol 2018, Mongol 2022. Mongol 2024 - Last price DBM Samurai - Mid Line & Mid Yield to Maturity

Mongol 2018 Mongol 2022 Mongol 2024 (Khuraldai bond)

Last Price (JPY) Mid Line (%)
103 103.6
99.963 118 1.1%
100 103.5
94.430 115 103.4
1.1%
97

94 112 103.3 103.481 1.0%

/Year to date/
91 109 103.2 1.0%
109.500 106 1.0%
88 103.1
/Year to datet/ 0.9%
85 103 103.0 0.969%
82 100 102.9 0.9%

Sources: bloomberg terminal, 1212.mn, bloombergtv.mn,

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DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report
Treasury Management Division 4/4/2017

Bond Holders' Information /Top Holders/

Bond holders of Mongol 2018

Names Position % of position Latest change Fiing date Country
FMR LLC 35,900 7.18% 0.00 1/31/2017 United States
UBS 18,240 3.65% 7,000.00 11/30/2016 Switzerland
TCW GROUP INC 15,816 3.16% 0.00 2/28/2017 United States
PRUDENTIAL FINANCIAL INC 13,700 2.74% (2,000.00) 2/28/2017 United States
EATON VANCE CORP 9,668 1.93% 0.00 5/31/2016 United States
T ROWE PRICE GROUP INC 7,543 1.51% 0.00 3/31/2015 United States
LAZARD LTD 6,656 1.33% 6,616.00 12/31/2016 Bermuda
NORDEA BANK AB 6,095 1.22% (650.00) 1/31/2017 Sweden
SCHRODERS PLC 5,895 1.18% (435.00) 6/30/2016 United Kingdom
BLACKROCK 4,695 0.94% 0.00 11/30/2016 United States
AXA 4,400 0.88% 4,400.00 6/30/2016 France
PRUDENTIAL PLC 4,245 0.85% 500.00 11/30/2016 United Kingdom
HSBC 4,200 0.84% 0.00 11/30/2016 United Kingdom
SCHRODER INV MGMT TAIWAN LTD 3,766 0.75% (19.00) 2/28/2017 Taiwan

Bond holders of Mongol 2022

Names Position % of position Latest change Fiing date Country
BLACKROCK 110,412 11.04% 6626.00 3/28/2017 United States
ALLIANCE BERNSTEIN 35,283 3.53% 1116.00 1/31/2017 United States
PRUDENTIAL FINANCIAL INC 30,120 3.01% 1305.00 1/31/2017 United States
GOLDMAN SACHS GROUP INC 28,741 2.87% 1982.00 1/31/2017 United States
FMR LLC 25,620 2.56% 200.00 1/31/2017 United States
GRANTHAM MAYO VAN OTTERLOO & CO 18,600 1.86% 0.00 5/31/2016 United States
FRANKLIN RESOURCES 18,500 1.85% (3000.00) 12/31/2016 United States
SCHRODERS PLC 17,800 1.78% (5310.00) 12/31/2016 United Kingdom
DANSKE BANK A/S 15,222 1.52% 0.00 2/28/2017 Denmark
UBS 10,791 1.08% 1790.00 2/28/2017 Switzerland
PRUDENTIAL PLC 10,500 1.05% 0.00 11/30/2016 United Kingdom
T ROWE PRICE GROUP INC 10,496 1.05% 0.00 3/31/2015 United States
LAZARD LTD 9,400 0.94% 3105.00 1/31/2017 Bermuda

Bond holders of Mongol 2024

Names Position % of position Latest change Fiing date Country
UBS 300 0.05% 0.00 3/27/2017 Switzerland

This presentation has been prepared solely for informational purposes only and its not to be construed as a solicitation or any offer to buy or sell securities, commodities, or
related financial instruments.

Contact us:ALTMD-TMD, Tel:+976-7585 7070/ext: 310/

Sources: bloomberg terminal, 1212.mn, bloombergtv.mn,

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