PASHA_BANK ANNUAL REPORT 2021

General Information Financial Information and Risk Management Review Information on Management and Corporate Governance Principles Established in 2006, the Holding builds its business on the basis of effective management, corporate governance and well‑thought-out investment decisions. PASHA Holding LLC PASHA Holding LLC, through its subsidiaries, invests in banking, insurance, construction, information technology, the property development and tourism sectors. Established in 2006, the Holding builds its business on the basis of effective management, corporate governance and well‑thought‑out investment decisions. The Holding has two types of investment assets portfolios: Controlling stakes in PASHA Holding and its subsidiaries (PASHA Group) and minority private equity investments. As of 31 December 2020, the total assets of PASHA Holding stood at AZN 13.2 billion, while its total equity and revenues reached AZN 2.6 billion and AZN 1.6 billion, respectively. The total number of employees within the Group exceeds 9,500. PASHA Bank Azerbaijan PASHA Bank OJSC is one of the leading corporate banks in Azerbaijan. PASHA Bank OJSC provides all the important financial services covering investment banking, trade finance and asset management to a range of customers ranging from big corporations to SMEs. The Bank works in close cooperation with companies in the agriculture, transportation, construction, tourism and retail sectors which play a vital role in diversification of the Azerbaijan economy. PASHA Bank OJSC is among the first three banks in Azerbaijan with respect to total assets. As of 31 December 2021, the Bank’s total equity is registered as AZN 591,935 and the total assets being AZN 6,111,711 thousand. PASHA Bank OJSC focuses on creating and developing long‑term supportive relations with the expanding customer base. The Bank aims to provide the highest level of internationally transparent banking services constructed on values of “Integrity, Profitability, Responsibility, Quality and Collaboration”. Adopting a strategic approach for keeping up with the rapidly changing financial markets, PASHA Bank OJSC is a corporation determining the trends in the Azerbaijan banking sector, especially in the digital field. PASHA Bank also aims to create the best employee experience in Azerbaijan and to strengthen its employer profile within the labor market as the most preferred company by the employees countrywide. All of the innovation plans of the Bank are devised with the support of valuable employees for developing and implementing the best. Since 2011, PASHA Bank OJSC has provided high net worth individuals private banking services including deposits, loans and financial planning. PASHA Bank OJSC serves in its Baku‑based Headquarters and its nine branches. The Bank is operating with the vision of generating integrated banking activities aiming at increasing the trade and investment volume between Baku, Tiflis and Istanbul, being the most dynamic markets in the region. The Bank’s first subsidiary, PASHA Bank Georgia, started operations on 17 December 2012. PASHA Bank OJSC is an affiliate of the PASHA Group which is a large scale investment holding group, holding important assets in insurance, real estate development, construction, tourism and other lines of business in Azerbaijan. * USD 1 = AZN 1.7 (31 December 2020) PASHA Bank Georgia A subsidiary of PASHA Bank OJSC, PASHA Bank Georgia has offered corporate banking and investment banking services to large, medium and small‑sized firms and retail banking products since its establishment in 2013. As of 31 December 2021, PASHA Bank Georgia attained a GEL 473 million asset size. The Bank is an important player in the fields of corporate and investment banking in Georgia. The Bank provides finance to the leading companies in Georgia and offers financial consulting services. It has also specialized in participating and/or leading the syndications of firms in different sectors. ** 1 USD 1 = GEL 3.29 (31 December 2020) About the PASHA Group