DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report

Treasury Management Division 5/16/2017

News Highlights Mongolian Economic Main Indicators

Mongolia Indicators Unit 2016.03 2017.03 Year/chg %
Prime Minister J.Erdenebat visits China (theubpost.mn.mn) Money Supply (M2) bln.MNT 10,112.40 12,177.70 20%
Prime Minister J.Erdenebat is currently visiting China, and met with Premier Inflation /Year to date/ % 1.20% 2.10% 75.0%
Equilibrated overall bal of
of the State Council of the Peoples Republic of China Li Keqiang to discuss bln.MNT (615.70) (255.10) -59%
budget
trade and economic cooperation between the two countries, as well as Trade balance mln.USD 359.90 523.70 45.5%
environmental protection and climate change.During their meeting, Prime Export /accumulated/ mln.USD 958.90 1,299.90 36%
Minister J.Erdenebat emphasized that increasing the export of mining Import /accumulated/ mln.USD 599.10 776.20 30%
products and agricultural products from Mongolia to China will be of great
importance to dealing with Mongolias economic challenges. The premiers Policy rates
discussed working together to implement a comprehensive project for Central Banks interest rates Latest % Previous % Updated date
producing finished products, synthetic gas, and fuel from coal from the Tavan Policy rate of Mongolbank /BOM/14.00 15.00 12/19/2016
Tolgoi mine.They also discussed increasing capacity at some immigration and PBC base interest rate (China) 4.35 4.60 10/24/2015
customs checkpoints along the Mongolian and Chinese border, and launching FED - Federal Funds Rate 1.00 0.75 3/14/2017
flights between China and Europe using Mongolian airspace. They agreed to ECB - main refinancing rate 0.00 0.05 3/16/2016
work together on a project to help Ulaanbaatar reduce its air pollution.
BOE official bank rate (England)0.25 0.50 8/4/2016
OYU TOLGOI SIGNS POWER AGREEMENT WITH NATIONAL
POWER TRANSMISSION GRID OF MONGOLIA (montsame.mn) Bank of Mongolia - Interest corridor
Ulaanbaatar /MONTSAME/ On May 12, Oyu Tolgoi LLC announced the Indicators Latest % Previous % Updated date
signing of a new power purchase agreement (PPA) with the National Power Overnight repo 17.00 18.00 12/19/2016
Transmission Grid (NPTG) of Mongolia. Armando Torres, Chief Executive Overnight deposit 13.00 14.00 12/19/2016
Officer of Oyu Tolgoi, said, This is an important milestone for Oyu Tolgoi, Repo 16.00 17.00 12/19/2016
and underscores the strong support and collaboration between the
Government of Mongolia and Oyu Tolgoi securing our future, and our long Money market interest rates
term contribution to Mongolia. This agreement gives us access to reliable Indicators Rates % Daily chg % Yearly chg %
power to ensure the uninterrupted development of our business, while we Libor USD 2M 1.0778 -0.05 31.53
continue to work with the Government on establishing a permanent domestic
Libor USD 3M 1.1796 -0.19 18.21
power source. This agreement is the culmination of two years of collaborative
Libor USD 6M 1.4366 -0.19 9.02
work by a joint negotiation team from the Government of Mongolia and Oyu
Libor EUR 2M -0.3843 0.00 -8.69
Tolgoi, and is a great example of continuing successful strategic
Libor EUR 3M -0.3664 0.19 -8.92
cooperation.

Prime Minister holds meetings with Vladimir Putin and other leaders Official exchange rates - BOM Cross rates
(gogo.mn) Official rates Cross rates 5/16/17 9:07
Prime Minister J.Erdenebat has attended the opening of Belt and Road USD/MNT 2414.84 EUR/USD 1.0983
Summit, wrapping up his visit to the Peoples Republic of China. Heads of EUR/MNT 2642.32 GBP/USD 1.2913
more than 30 states and leaders of the United Nations, World Bank and GBP/MNT 3120.70 USD/CHF 0.9958
International Monetary Fund are taking part in the summit. The opening was CNY/MNT 350.09 USD/CNY 6.8935
addressed by President of PRC Xi Jinping, President of the Russian JPY/MNT 21.25 USD/JPY 113.70
Federation V.V.Putin, President of the Republic of Turkey R.T.Erdogan and
the UN Secretary General A.Gutteres.PM J.Erdenebat also gave a speech to Mongolian Bonds information
the Summit and the accompanying ministers are attending sub-conferences. Bonds Currency Yield % Last price Daily chg%
Mongol 2018 USD 4.09 100.02 -0.04%
USA Mongol 2021 USD 5.85 117.22 0.08%
Trump revealed intelligence secrets to Russia: officials Mongol 2022 USD 5.80 96.83 0.17%
Trump ordered emergency meeting after global cyber attack: official Mongol 2024-Khuraldai bond
USD 6.43 112.63 -0.08%
U.S. nears $100 billion arms deal for Saudi Arabia: White House official Mongol 2018-Dim sum bond
CNY 7.86 99.61 0.00%
Europe DBM-Samurai 2023 JPY 0.93 103.64 0.01%
Theresa May answers voters' questions in her first ever live Facebook Q&A TDBM-2020 bond USD 6.04 109.46 0.13%
Cyber attack could spark lawsuits but not against Microsoft MMC bond USD 13.72 #N/A N/A 0.00%
EUR/USD Follows Through on Fridays Gain Amid Lack of Eurozone Data
North Asia Commodity Trading Prices
China's economy loses momentum as policymakers clamp down on debt risks Commodities Latest price Daily chg% Yearly chg%
Chinese President XI: Belt And Road Initiative Needs To Reject Protectionism And Crude oil /WTI-New York/ $49.05 0.41 -8.69
Avoid Fragmentation Gold Spot /ounce/ $1,231.82 0.08 7.35
Commodity market Copper /LME/ $5,613.00 0.96 1.40
Saudis, Russia Favor Extending Oil Cuts Until End-March 2018 Iron ore /Beijing/ 500.00 0.00 11.11
OPEC cuts still not reducing global oil glut, and they know it Coal /Tianjin/ 1,600.00 -0.62 -9.09
Global stocks rise with oil, cyber attack; weak data knocks dollar

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

1 montsame.mn, news.mn, gogo.mn
DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report
Treasury Management Division 5/16/2017

Previous day's economic calendars Today's economic calendars

Event Period Forecast Actual Previous Event Time Period Estimated Previous

Empire Manufacturing May 7.50 (1.00) 5.20 EC Trade Balance SA 05:00 Mar 18.7b 19.2b
NAHB Housing Market Index May ####### 70.00 68.00 EC GDP SA YoY 05:00 1Q P 1.70% 1.70%
Total Net TIC Flows Mar -- -$0.7b $19.3b US Housing Starts 08:30 Apr 1260k 1215k
Net Long-term TIC Flows Mar -- $59.8b $53.4b US Building Permits 08:30 Apr 1270k 1260k
Foreign Direct Investment YoY CNY Apr -- -- 6.70% US Industrial Production MoM 09:15 Apr 0.40% 0.50%
US Manufacturing (SIC) Production 09:15 Apr 0.40% -0.40%
US MBA Mortgage Foreclosures 10:00 1Q -- 1.53%
US Mortgage Delinquencies 10:00 1Q -- 4.80%
JN Machine Orders YoY 19:50 Mar 1.20% 5.60%

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% 99.78 100.26 4.48 3.70 0.6 5-Jan-13 5-Jan-18
Mongol 2021 500 10.875% 116.88 117.56 5.94 5.76 3.9 6-Apr-16 6-Apr-21
Mongol 2022 1,000 5.125% 96.46 97.21 5.88 5.72 5.6 5-Dec-12 5-Dec-22
Mongol 2024-Khuraldai bond 600 8.750% 112.31 112.96 6.48 6.37 6.8 9-Mar-17 9-Mar-24
Mongol 2018 - Dim sum bond 1 billion CNY 7.500% 99.35 99.88 8.11 7.60 1.1 30-Jun-15 30-Jun-18
DBM - Samurai 2023 30 billion JPY 1.520% 103.48 103.80 0.96 0.91 6.6 16-Dec-13 25-Dec-23
TDBM - 2020 bond 500 9.375% 108.63 109.46 6.18 5.89 3.0 19-May-15 19-May-20
MMC 2017 600 8.875% 64.13 65.22 13.84 13.61 -0.1 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 (%)
104.1 1.1%
100 118 1.1%
100.042 103.9
1.0%
96.818 115
97 103.7 1.0%
112 1.0%
94 103.5
103.643 1.0%
112.682 109 0.9%
91 103.3
106
0.9%
103.1 0.894% 0.9%
88 /Year to date/ /Year to date/
103 0.8%
102.9 0.8%
85 100

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

2 montsame.mn, news.mn, gogo.mn
DEVELOPMENT BANK OF MONGOLIA Daily Treasury Report
Treasury Management Division 5/16/2017

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 3/31/2017 United States
UBS 17,840 3.57% (400.00) 1/31/2017 Switzerland
TCW GROUP INC 15,816 3.16% 0.00 3/31/2017 United States
PRUDENTIAL FINANCIAL INC 13,700 2.74% (2,000.00) 3/31/2017 United States
EATON VANCE CORP 9,668 1.93% 0.00 5/31/2016 United States
LAZARD LTD 9,320 1.86% 0.00 3/31/2017 Bermuda
T ROWE PRICE GROUP INC 7,543 1.51% 0.00 3/31/2015 United States
NORDEA BANK AB 5,895 1.18% 0.00 3/31/2017 Sweden
ABERDEEN 5,315 1.06% 4,004.00 3/31/2017 United Kingdom
BLACKROCK 4,045 0.81% (650.00) 1/31/2017 United States
SCHRODER INV MGMT TAIWAN LTD 3,766 0.75% (19.00) 2/28/2017 Taiwan
PRUDENTIAL PLC 3,700 0.74% (300.00) 3/31/2017 United Kingdom
MEDIOLANUM INTERNATIONAL FUNDS 3,134 0.63% 0.00 6/30/2016 Ireland
DEUTSCHE BANK AG 3,000 0.60% 0.00 12/31/2014 Germany

Bond holders of Mongol 2022

Names Position % of position Latest change Fiing date Country
BLACKROCK 90,228 9.02% (18884.00) 5/12/2017 United States
ALLIANCE BERNSTEIN 36,490 3.65% 2323.00 3/31/2017 United States
PRUDENTIAL FINANCIAL INC 30,120 3.01% 1505.00 3/31/2017 United States
FMR LLC 25,620 2.56% 0.00 3/31/2017 United States
GOLDMAN SACHS GROUP INC 21,334 2.13% (7140.00) 3/31/2017 United States
GRANTHAM MAYO VAN OTTERLOO & CO 17,100 1.71% (1500.00) 11/30/2016 United States
DANSKE BANK A/S 14,922 1.49% (300.00) 4/28/2017 Denmark
T ROWE PRICE GROUP INC 10,496 1.05% 0.00 3/31/2015 United States
FRANKLIN RESOURCES 9,400 0.94% (12100.00) 3/31/2017 United States
LAZARD LTD 8,985 0.90% (415.00) 3/31/2017 Bermuda
UBS 8,863 0.89% (818.00) 1/31/2017 Switzerland
PRUDENTIAL PLC 7,500 0.75% (3000.00) 3/31/2017 United Kingdom
NN GROUP NV 7,420 0.74% 0.00 3/31/2016 Netherlands

Bond holders of Mongol 2024

Names Position % of position Latest change Fiing date Country
SUN LIFE FINANCIAL INC 8,956 1.49% (7,400.00) 3/31/2017 Canada
JPMORGAN CHASE & CO 6,360 1.06% 8,956.00 3/31/2017 United States
SEI INVESTMENTS CO 1,772 0.66% 6,360.00 4/30/2017 United States
PRUDENTIAL PLC 3,700 0.62% 1,772.00 3/31/2017 United Kingdom
SYDINVEST INTERNATIONAL 41 0.60% 3,700.00 4/28/2017 Denmark
BLACKROCK 2,945 0.54% 41.00 5/12/2017 United States
NORDEA BANK AB 2,805 0.47% 2,945.00 3/31/2017 Sweden

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, theubpost.mn,

3 montsame.mn, news.mn, gogo.mn