The Republic of Uruguay - Tender Offer 2024 (US/UY) - Launch

REPUBLIC OF URUGUAY – ANNOUNCEMENT OF TENDER OFFERS

08 MAY 2024

Full announcement including disclaimers and offer restrictions available via SEC

The Republic of Uruguay (“Uruguay”), announced today the commencement of:

1. A globaloffer to purchase for cash (the “Global Tender Offer”) bonds of each series of Global Bonds listed in the table belowunder “Global Tender Offer” (collectively, the “Old Global Bonds” and each Old Global Bond, a “series” of Old Global Bonds) such that the aggregate Purchase Price to be paid for the Old Global Bonds tendered and accepted for purchase pursuant to the Global Tender Offeris equal to a maximum purchase amount for each series to be determined by Uruguay in its sole discretion. The terms and conditions of the Global Tender Offer are set forth in the offer to purchase, dated Wednesday, May 8, 2024 (the “Global Offer to Purchase”).

2. A localoffer to purchase for cash (the “Local Tender Offer”) Treasury Notes and/or Monetary Regulation Bills listed in the tables below under “Local Tender Offer” (the “Old Local Securities”), subject to the terms and conditions described in the information memorandum dated Wednesday, May 8, 2024 (the “Local Information Memorandum”).

Global Tender Offer

The Global Tender Offeris not conditioned upon any minimum participation of any series of Old Global Bonds but is conditioned, among other things, on the pricing (but not the closing) of a new series of UI-denominated Global Bonds (the “New UI Global Bonds”) and a reopeningof existing Peso-denominated Global Bonds (the “New Ps. Global Bonds” and, together with the New UI Global Bonds, the “New Bonds”)in an amount, with pricing and on terms and conditions acceptable to Uruguay in its sole discretion, with pricing terms expected to be announced at or around 4:00 p.m., New York time on Wednesday, May 8, 2024 (the “New Bonds Offering”).

The Global Tender Offerwill commence at or around 8:00a.m., New York time, on Wednesday, May 8, 2024 and, unless extended or earlier terminated, expire at (i) 12:00 noon, New York time, on Wednesday, May 8, 2024 for non-preferred tenders (the “NonPreferred Tender Period”), and (ii) 2:00 p.m., New York time, on Wednesday, May 8, 2024 for preferred tenders (the “Preferred Tender Period”). The settlement of the Global Tender Offeris scheduled to occur on Tuesday, May 14, 2024 (the “Global Tender OfferSettlement Date”).The purchase price to be paid per Ps. 1,000 nominal principal amount of each series of Old Global Bonds tendered and accepted pursuant to the Global Tender Offerwill be equal to the fixed price indicated in the table below (the “Purchase Price”). Holders whose Old Global Bonds are accepted in the Global Tender Offerwill also receive any accrued and unpaid interest from, and including, the last interest payment date for such Old Global Bonds up to, but excluding, the Global Tender Offer Settlement Date (the “Accrued Interest”). Accrued Interest for Preferred and Non-Preferred Tender Orders will be payable in cash.

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"Local Tender Offer

The Local Tender Offer is conditioned upon (i) the allocation of the New Bonds Offering, in an amount, at prices and on terms acceptable to Uruguay in its sole discretion and(ii) the New Bonds Offeringnot beingterminated prior to the settlement of the Local Tender Offer.

Only those individuals and/or legal entities that participate in the New Bonds Offering, and for up to the amount of New UI Global Bonds and/or New Ps. Global Bonds allocated to them in the New Bonds Offering (net of the amount of Old Global Bonds of such person accepted by Uruguay for purchase under the Global Tender Offer) may tender their Old Local Securities in the Local Tender Offer(hereinafter the “Eligible Holders”). Eligible Holders may only tender an amount of Old Local Securities of not less than Ps. 100,000 (one hundred thousand Uruguayan Pesos) or UI 100,000 (one hundred thousand Indexed Units), as applicable, and, in all cases, subject to the Eligible Holder’s compliance with applicable law (including those of its country of residence or incorporation).

Eligible Holders will be able to select Old Local Securities through the ÁGATA system of the Central Bank of Uruguay beginning on the time Uruguay announces the allocationof the Global Bonds (estimated for Wednesday, May 08, 2024 at 4:30 p.m., or as soon thereafter as practicable) until Friday, May 10, 2024 at 2:00 p.m.

Eligible Holders may participate in the Local TenderOffer with Old Local Securities up to the equivalent of the maximum amount allocatedto them in the New Bonds Offering(net of the amount of Old Global Bonds of such person that are accepted for repurchase under the Global Tender Offer).

The repurchase of the Old Local Securities will be carried out respecting the order of priority established by the Eligible Holder when selecting Old Local Securities in the ÁGATA system. However, if the total value of the Old Local Securities selected by the Eligible Holder exceeds the effective value allocated in the New Bonds Offering, the Central Bank of Uruguay (a) will observe the order of priority established by the respective Eligible Holder in the ÁGATA system and (b) in case a certain order of priority has not been indicated in the system, disregard selected Old Local Securities with the longest maturity, until reaching the maximum amount admissible for each Holder.

Eligible Holders participating in the Local Tender Offer will receive in payment for each Ps. 1,000 (one thousand Uruguayan Pesos) or UI 1,000 (one thousand Indexed Units) nominal amount of their Old Local Securities validly tendered, an amount in cash in U.S. dollars equivalent to the nominal purchase price indicated in the tables below, divided by the exchange rate used in the New Bonds Offering of Ps. 38.516 to US$1.00.

Old Local Securities of UI-denominated Treasury Notes

Old Local Securities of Monetary Regulation Bills in Uruguayan Pesos"

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REPUBLIC OF URUGUAY – ANNOUNCEMENT OF TENDER OFFER RESULTS

12 JULY 2023

Full announcement including disclaimers and offer restrictions available via Luxse

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"The aggregate principal amount of preferred and non-preferred tenders of Old Bonds and the aggregate principal amount of preferred and non-preferred tenders of such Old Bonds that have been accepted are shown in the table below. Appropriate adjustments will be made so that purchases are made in the minimum denominations set forth in the Offer to Purchase.

In accordance with the Offer to Purchase, the purchase price to be paid per Ps. 1,000 principal amount of each series of Global Ps. Bonds, per US$1,000 original principal amount of each series of Global USD Bonds and per Ps. 1,000 nominal principal amount of each series of Global UI Bonds tendered and accepted pursuant to the Tender Offer will be equal to the fixed price indicated in the table below (the “Purchase Price”). Notwithstanding the prior sentence, the amount to be paid for tendered 2024 USD Bonds will be the Purchase Price times the Amortization Factor (as defined below) applied to the “original principal amount” of such 2024 USD Bonds."

(1) The Purchase Price and Accrued Interest of the Global Ps. Bonds and Global UI Bonds shall be converted into U.S. dollars at an exchange rate of Ps.37.8819 to

US$1.00.

(2) In addition, investors will receive Accrued Interest, as described in the Offer to Purchase.

(3) The nominal principal amount of Global UI Bonds validly tendered and accepted will be adjusted by a factor (the “Adjustment UI Factor”) to reflect the

increase of the UI Index from the issuance date of the Old Bonds to the Settlement Date, which is expected to be Monday, July 17, 2023. As of the expected Settlement

Date, (i) the Adjustment UI Factor for the 2027 UI Bonds would be 3.54399, which is the ratio of 5.8125, the value of the UI index at the Settlement Date, over 1.6401,

the value of the UI index at the time of the issuance of the 2027 UI Bonds and (ii) the Adjustment UI Factor for the 2028 UI Bonds would be 2.51395, which is the ratio

of 5.8125, the value of the UI index at the Settlement Date, over 2.3121, the value of the UI index at the time of the issuance of the 2028 UI Bonds.

(4) The principal amount of the 2027 UI Bonds outstanding, as adjusted by the Adjustment UI Factor is Ps.35,137,034,158.59.

(5) The principal amount of the 2028 UI Bonds outstanding, as adjusted by the Adjustment UI Factor is Ps.82,578,959,512.81.

(6) The aggregate principal amount outstanding of the 2024 USD Notes reflects the original principal amount of the 2024 USD Notes multiplied by the Amortization

Factor.

(7) The amount to be paid for tendered 2024 USD Bonds will be US$1,000.00 times the original principal amount of such 2024 USD Bonds multiplied by the

Amortization Factor.

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REPUBLIC OF URUGUAY – ANNOUNCEMENT OF TENDER OFFER

11 JULY 2023

Full announcement including disclaimers and offer restrictions available via Luxse

"Tuesday, July 11, 2023

MONTEVIDEO, URUGUAY —

Tender Offer

The Republic of Uruguay (“Uruguay”) announced today the commencement of an offer to purchase for cash (the “Tender Offer”) bonds of each series of Global Bonds listed in the table below (collectively, the “Old Bonds” and each Old Bond, a “series” of Old Bonds) such that the aggregate Purchase Price to be paid for the Old Bonds tendered and accepted for purchase pursuant to the Tender Offer is equal to a maximum purchase amount for each series to be determined by Uruguay in its sole discretion (the “Maximum Purchase Amount”). The terms and conditions of the Tender Offer are set forth in the offer to purchase, dated Tuesday, July 11, 2023 (the “Offer to Purchase”). The Tender Offer is not conditioned upon any minimum participation of any series of Old Bonds but is conditioned, among other things, on the pricing, but not the closing, of the issuance of Uruguay’s new Peso-denominated Global Bonds maturing in 2033 (the “New Bonds”) in an amount, with pricing and on terms and conditions acceptable to Uruguay in its sole discretion, with pricing terms expected to be announced at or around 2:00 p.m., New York time on Tuesday, July 11, 2023 (the “New Bonds Offering”). The Tender Offer will commence at or around 8:00 a.m., New York time, on Tuesday, July 11, 2023 and, unless extended or earlier terminated, (i) expire at 12:00 noon, New York time, on Tuesday, July 11, 2023 for non-preferred tenders (the “Non-Preferred Tender Period”), and (ii) expire at 2:00 p.m., New York time, on Tuesday, July 11, 2023 for preferred tenders (the “Preferred Tender Period”). The settlement of the Tender Offer is scheduled to occur on Monday, July 17, 2023 (the “Tender Offer Settlement Date”). The purchase price to be paid per Ps. 1,000 principal amount of each series of Global Ps. Bonds, per US$1,000 original principal amount of each series of Global USD Bonds and per Ps. 1,000 nominal principal amount of each series of Global UI Bonds tendered and accepted pursuant to the Tender Offer will be equal to the fixed price indicated in the table below (the “Purchase Price”). Notwithstanding the prior sentence, the amount to be paid for tendered 2024 USD Bonds will be the Purchase Price times the Amortization Factor (as defined below) applied to the “original principal amount” of such 2024 USD Bonds. Holders whose Old Bonds are accepted in the Tender Offer will also receive any accrued and unpaid interest from, and including, the last interest payment date for such Old Bonds up to, but excluding, the Tender Offer Settlement Date (the “Accrued Interest”). Accrued Interest for Preferred and Non-Preferred Tender Orders will be payable in cash.

(1) The Purchase Price and Accrued Interest of the Global Ps. Bonds and Global UI Bonds shall be converted into U.S. dollars at an exchange rate of Ps.37.8819 to US$1.00.

(2) In addition, investors will receive Accrued Interest, as described above.

(3) The nominal principal amount of Global UI Bonds validly tendered and accepted will be adjusted by a factor (the “Adjustment UI Factor”) to reflect the increase of the UI Index from the issuance date of the Old Bonds to the Settlement Date, which is expected to be Monday, July 17, 2023. As of the expected Settlement Date, (i) the Adjustment UI Factor for the 2027 UI Bonds would be 3.54399, which is the ratio of 5.8125, the value of the UI index at the Settlement Date, over 1.6401, the value of the UI index at the time of the issuance of the 2027 UI Bonds and (ii) the Adjustment UI Factor for the 2028 UI Bonds would be 2.51395, which is the ratio of 5.8125, the value of the UI index at the Settlement Date, over 2.3121, the value of the UI index at the time of the issuance of the 2028 UI Bonds.

(4) The principal amount of the 2027 UI Bonds outstanding, as adjusted by the Adjustment UI Factor is Ps.35,137,034,158.59.

(5) The principal amount of the 2028 UI Bonds outstanding, as adjusted by the Adjustment UI Factor is Ps.82,578,959,512.81.

(6) The aggregate principal amount outstanding of the 2024 USD Notes reflects the original principal amount of the 2024 USD Notes multiplied by an amortization factor of 0.66666667 (the “Amortization Factor”).

(7) The amount to be paid for tendered 2024 USD Bonds will be US$1,000.00 times the original principal amount of such 2024 USD Bonds multiplied by the Amortization Factor.

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