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28 Panama 1,894 1,920 1,860 1,632 1,633 Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 6.0% 7.1% 10.0% 18.5% 18.5% Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 Q4 2021 Total Labor Force (000s) 2,003 Employed Workers (000s) 1,633 Unemployed Workers (000s) 371 Unemployment Rate 18.5% 69% - First Vaccine Dose (December 2021) Covid Update Masks are required in public spaces. Vaccinations are not mandatory. Insurers in Panama are beginning to only allow renewals of insurance for clients with at least their first dose of vaccine . 20% 25% 7% 0% 25% 50% 75% Employer Tax Profit Tax VAT Panam a Regional Average Other Cost Considerations - Tax Indicative Wages (USD) $1,353 $868 $3.16 $0 $5 $10 $0 $2,500 $5,000 Average Wage Manufacturing Wage Minimum Wage Panam a Regional Average 42% 42% 44% 44% 50% 28% 27% 29% 29% 30% 63% 63% 64% 65% 63% 0% 20% 40% 60% 80% 2016 2017 2018 2019 2020 15-24 years 65+ years Total Labor Force Participation Rate by Selected Age Group Working Population (in Thousands) Over Time Unemployment Rate Over Time Labor Force Statistics ILOSTAT Monthly Hourly Key Sources: https://wageindicator.org/ https://ilostat.ilo.org/ https://www.worldbank.org/ https://tradingeconomics.com/ https://home.kpmg/xx/en/home.html https://taxsummaries.pwc.com/ 'https://www.inec.gob.pa