Nasdaq OMX Armenia Future Outlook

FUTURE OUTLOOK

In 2012, NASDAQ OMX Armenia plans to:

• continue improving the technical infrastructure of the stock exchange and the central depository;
• continue expanding the range of services provided to listed companies and trading members;
• carry on with efforts to promote initial public offerings of equities in the Armenian market;
• launch T+3 settlement mechanism, which will enable exchange trading without pre-deposition of securities and cash;
• establish a Guarantee Fund to increase investor protection;
• continue efforts towards increasing public awareness of the Armenian securities market.