PASHA BANK ENG 20

Summary of the Board of Directors’ Annual Report Submitted to the General Assembly Dear Shareholders, We thank each and every one of the shareholders participating in the 2020 Annual General Meeting of Shareholders of our Bank. Our bank completed its activities in 2020 with a 26.3% growth in asset size, our total assets reached TL 2,179 million, according to the audited unconsolidated financial statements for 2020, and the share of total cash loans and lease receivables constituted 68.5% of total assets. PASHA Bank’s total shareholders’ equity as of 31 December 2020 was TL 563 million. The increase in loans reflected positively on the results of 2020. The total cash, non-cash loans and lease receivables of the Bank reached TL 1,826 million, rising by 25.9% compared to the previous year as a result of the prudent risk policies that were applied. The net profit for the period was recorded at TL 31.4 million. We have examined the Bank’s financial statements for the period of 1 January to 31 December 2020, and they do not contain any misstatements materially affecting the presentation of the information, and they accurately reflect the Bank’s financial position. PASHA Bank’s financial statements containing the operating results for 2020 are presented for your examination and approval in the attachment. We propose and submit to the General Assembly the approval of the audited, unconsolidated financial statements prepared as of 31 December 2020, and the release of our members of the Board of Directors individually. Regards, On Behalf of the Board of Directors Jalal Gasimov Chairman Annual Report 2020 PASHA Bank Information on Management and Corporate Governance Practices 57