Supplemental Letter No. 3 REPUBLIC OF ARMENIA ai1 2 2016 International Bank for Reconstruction and Development 1818 H Street, N.W. Washington, D.C. 20433 United States of America Re: IBRD Loan No. 8615-AM (Power Sector Financial Recovery Program) Baseline for Outstanding Commercial Loans and Selected Pavables of YTPC Dear Sirs and Mesdames: In connection with the Loan Agreement of this date between Republic of Armenia (Member Country) and International Bank for Reconstruction and Development (Bank) providing a loan (Loan) for the above-captioned Project, I am writing on behalf of the Member Country to set forth the following: With respect to activities under Parts B and C of Schedule 1 of the Loan Agreement, there is certain information that we, the Member Country have requested the Bank to keep as confidential. Specifically, we refer to: (i) the contracts' reference numbers corresponding to the selected commercial loans owned by ANPP and YTPC; and (ii) the contract's reference number corresponding to the payable for gas owned by YTPC to Yerevan GGM branch of Gazprom Armenia CJSC. We understand this request is in line with the Bank's Access of Information Policy. Notwithstanding the above, we understand and agree that for purposes of the compliance with the obligations under the Loan Agreement, monitoring and verification processes, we need to specify the reference numbers of the selected contracts described in (i) and (ii) above. Therefore, the details of said information are set forth in the Annex to this letter. Please confirm your agreement to the foregoing by having a duly authorized representative of the Bank sign in the space provided below. Very truly yours, REPUBLIC OF ARMENIA By Authorized Represetative AGREED: INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By Authorized Representative Annex Baseline for Outstanding Commercial Loans of ANPP and YTPC and Payables of YTPC a) Baseline for Commercial Loans Loan US$ equivalents2 of currency Loan original principal Outstanding principal outstanding principal entity Reference number of amountgin cta amounts in contract currency amonts name original loan contract' as of February 1, 2016 currency (Baseline) as of February 1, 2016 (Baseline) ANPP P15/196-01 EUR 2,000,000.00 2,000,000.00 2,171,191.43 2 539364 USD 6,354,000.00 6,354,000.00 6,354,000.00 1 YTPC VP026609 USD 2,600,000.00 650,000.00 650,000.00 2 VP100614/1 EUR 5,906,897.48 2,362,759.01 2,565,001.06 3 VP100416/2 EUR 3,198,871.07 1,279,548.44 1,389,072.30 b) Baseline for Selected Payables of YTPC Contractual Counterpart Payable Outstanding balance of the payable e Reference number of the currency in the contract currency N Entity Name cnrt1 contract' as of February 1, 2016 _____1_1_(Baseline) I YTPC 0140713001 YerevanGGMof AMD 12,161,961,848.00 I Gazprom Armenia CJSC _ Here only original contract numbers are referred. Subsequent amendments under some of the contracts may have different reference numbers. 2 Calculated based on the following official exchange rates by the Central Bank of Armenia as of February 1, 2016: US$1=489.16AMD; EURI=531.03AMD.