PASHA_BANK ANNUAL REPORT 2021

(Amounts are expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.) PASHA Yatırım Bank A.Ş. The accompanying notes are an integral part of these financial statements General Information Remarks on Financial Information and Risk Management Information on Management and Corporate Governance Practices (Convenience Translation of Publicly Announced Financial Statements Originally Issued in Turkish, See Note I of Section Three) Notes to Unconsolidated Statements of Cash Flow For the Year Ended 31 December 2021 VI. STATEMENT OF CASH FLOW Note Current Period 31/12/2021 Prior Period 31/12/2020 A. CASH FLOWS FROM BANKING OPERATIONS 1.1 Operating Profit Before Changes in Operating Assets and Liabilities 73,617 37,669 1.1.1 Interest Received 190,940 122,510 1.1.2 Interest Paid (99,592) (59,193) 1.1.3 Dividend Received - - 1.1.4 Fees and Commissions Received 11,736 3,602 1.1.5 Other Income 20,840 10,964 1.1.6 Collections from Previously Written-off Loans and Other Receivables 7,927 3,354 1.1.7 Payments to Personnel and Service Suppliers (27,268) (19,094) 1.1.8 Taxes Paid (12,097) (7,206) 1.1.9 Other (5.6.2) (18,869) (17,268) 1.2 Changes in Operating Assets and Liabilities (94,884) (118,016) 1.2.1 Net (Increase) Decrease in Financial Assets at Fair Value through Profit or Loss (3,575) (6,575) 1.2.2 Net increase (decrease) in due from banks (65,638) 12,094 1.2.3 Net increase (decrease) in loans (221,469) (169,626) 1.2.4 Net increase (decrease) in other assets (5.6.2) (444) 953 1.2.5 Net increase (decrease) in bank deposits - - 1.2.6 Net increase (decrease) in other deposits - - 1.2.7 Net increase (decrease) in financial liabilities at fair value through profit or loss - - 1.2.8 Net Increase/(Decrease) in Funds Borrowed 9,242 (49,708) 1.2.9 Net Increase/(Decrease) in matured Payables - - 1.2.10 Net Increase/(Decrease) in Other Liabilities (5.6.2) 187,000 94,846 I. Net Cash Provided from Banking Operations (21,267) (80,347) B. CASH FLOWS FROM INVESTING ACTIVITIES II. Net Cash Provided from/(Paid For) Investing Activities (148,666) (32,003) 2.1 Cash paid for the purchase of associates, subsidiaries and joint ventures - - 2.2 Cash obtained from the sale of associates, subsidiaries and joint ventures - - 2.3 Cash paid for the purchase of tangible and intangible asset (4,827) (3,413) 2.4 Cash obtained from the sale of tangible and intangible asset - - 2.5 Cash paid for the purchase of financial assets at fair value through other comprehensive income (52,561) (26,531) 2.6 Cash obtained from the sale of financial assets at fair value through other comprehensive income 28,597 12,163 2.7 Cash paid for the purchase of financial assets at amortised cost (119,875) (49,278) 2.8 Cash obtained from sale of financial assets at amortised cost - 35,056 2.9 Other - - C. CASH FLOWS FROM FINANCING ACTIVITIES III. Net Cash Provided from Financing Activities 65,638 48,274 3.1 Cash Obtained from Funds Borrowed and Securities Issued 596,425 188,568 3.2 Cash Used for Repayment of Funds Borrowed and Securities Issued (530,634) (140,195) 3.3 Equity instruments issued - - 3.4 Dividends Paid - - 3.5 Payments for Finance Lease Liabilities (153) (99) 3.6 Other - - IV. Effect of Change in Foreign Exchange Rate on Cash and Cash Equivalents (5.6.2) 115,356 36,806 V. Net Increase/(Decrease) in Cash and Cash Equivalents (I+II+III+IV) 11,061 (27,270) VI. Cash and Cash Equivalents at the Beginning of the Period (5.6.1) 163,361 190,631 VII. Cash and Cash Equivalents at the End of the Period (V+VI) (5.6.1) 174,422 163,361