OFFICIAL DOCUMENTS LOAN NUMBER 8727-UA Guarantee Agreement (Access to Long Term Finance Project) between UKRAINE and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Dated , 2017 LOAN NUMBER 8727-UA GUARANTEE AGREEMENT AGREEMENT, dated J , 2017, entered into between UKRAINE ("Guarantor") and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT ("Bank") ("Guarantee Agreement") in connection with the Loan Agreement of same date between the Bank and JOINT STOCK COMPANY "THE STATE EXPORT-IMPORT BANK OF UKRAINE" ("Borrower" or "Ukreximbank") ("Loan Agreement") in an amount equal to one hundred fifty million United States Dollars (USD150,000,000). The Guarantor and the Bank hereby agree as follows: ARTICLE I - GENERAL CONDITIONS; DEFINITIONS Section 1.01. The General Conditions (as defined in the Appendix to the Loan Agreement) constitute an integral part of this Agreement. Section 1.02. Unless the context requires otherwise, the capitalized terms used in this Agreement have the meanings ascribed to them in the General Conditions or in the Appendix to the Loan Agreement. ARTICLE II - GUARANTEE Section 2.01. The Guarantor declares its commitment to the objective of the Project. To this end, without limitation or restriction upon any of its other obligations under the Guarantee Agreement, the Guarantor hereby unconditionally guarantees, as primary obligor and not as surety merely, the due and punctual payment of all Loan Payments payable by the Borrower pursuant to the Loan Agreement. ARTICLE III -REPRESENTATIVE; ADDRESSES Section 3.01. The Guarantor's Representative is the Minister of Finance. Section 3.02. The Guarantor's Address is: Ministry of Finance 12/2 M. Hrushevskoho Str. Kyiv, 01008 Ukraine Facsimile: (380-44) 425-90-26 (380-44) 277-54-55 Section 3.03. The Bank's Address is: International Bank for Reconstruction and Development 1818 H Street, N.W. Washington, D.C. 20433 United States of America Telex: Facsimile: 248423 (MCI) or (202) 477-6391 64145 (MCI) AGREED at Kyiv, Ukraine, as of the day and year first above written. UKRAINE By Authoriz sentative Name: Title: A&t W/4hd INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By Authorized Representative Name: e/ Title: 1k)a?/ (/ W * -2-