Addis Ababa – 29 January 2026. The Ministry of Finance (“MoF”) of the Federal Democratic Republic of Ethiopia (“Ethiopia”) announces that, following the agreement in principle (“AIP”) on restructuring

terms reached on 2 January 2026 with a group of holders (the “Ad Hoc Committee”) of its US$ 1 billion 6.625% Notes due 2024 (ISIN US29766LAA44) (the “2024 Notes”), Ethiopia and its advisors consulted with the country’s Official Creditor Committee (the “OCC”) and the International Monetary Fund (the “IMF”) to establish the consistency of the AIP with (i) the Comparability of Treatment principle as applied by the OCC and (ii) the targets and parameters of Ethiopia’s IMF programme.

Following a period of consideration, the OCC, through its Co-chairs, has informed Ethiopia of its assessment that the AIP does not fully meet the requirements of the Comparability of Treatment principle. The OCC communicated this assessment to Ethiopia in a formal letter, attached as Annex A.

In light of this assessment, Ethiopia is not in a position to proceed with implementation of the Eurobond restructuring terms outlined in the AIP, as doing so would be inconsistent with the official sector debt restructuring framework reflected in the Memorandum of Understanding signed with the OCC in July 2025. Proceeding under these circumstances would pose risks to the macroeconomic stability and economic progress that Ethiopia has worked hard to achieve.

Accordingly, Ethiopia will re-engage with the Ad Hoc Committee to continue discussions on the financial terms of the restructuring of the 2024 Notes. While Ethiopia regrets the need to reopen

discussions, it remains fully committed to working constructively and in good faith with the members of the Ad Hoc Committee and its official creditors to reach a solution that is (i) consistent with the

Comparability of Treatment principle, ensuring fair burden sharing among Ethiopia’s creditors, (ii) compatible with Ethiopia’s commitments under its IMF programme, and (iii) capable of commanding the support of the Ad Hoc Committee and the broader market.

This press release does not constitute an offer of securities for sale or solicitation of an offer to buy any securities in the United States for purposes of the U.S. Securities Act of 1933, as amended.