All of the provisions of the Bank's Standard Terms and Conditions dated 1 May 2025 are hereby incorporated into and made applicable to this Agreement with the same force and effect as if they were fully set forth herein.

Wherever used in this Agreement (including the Preamble), unless stated otherwise or the context otherwise requires, the terms defined in the Preamble have the respective meanings given to them therein, the terms defined in the Standard Terms and Conditions and the Loan Agreement have the respective meanings given to them therein and the following terms have the following meanings:

"Guarantor's Authorised Representative" means the Minister of Finance of the Guarantor.

"MoCTI" means the Ministry of Construction, Transport and Infrastructure of the Guarantor, as the responsible ministry for the implementation of the PSO on behalf of the Government of Serbia.

"PSO" means the MoCTI’s obligation to compensate the Borrower on a periodic basis for financial losses it incurs in operating services and facilities required by the MoCTI.

"PSO Compensation” means the funds paid by MoCTI to the Borrower to compensate the Borrower for financial losses it incurs in operating services and facilities required by the MoCTI.

In this Agreement, a reference to a specified Article or Section shall, except where stated otherwise in this Agreement, be construed as a reference to that specified Article or Section of this Agreement.