MESSAGE FROM THE GENERAL MANAGER


Dear Shareholders, Customers, Employees and Business Partners of Nurolbank,

The year 2021, which we left behind, has been a year of radical changes and formations that will make their effects felt all over the world for a long time. The Covid-19 pandemic process, which has affected the whole world in macro and micro fields, the extraordinary struggle of Governments and Central Banks with the pandemic, and the positive developments in the field of health for all humanity have formed the main theme of 2021. The global contraction process in 2020 allowed strong growth performances to be experienced in 2021 with the effect of expansionary monetary and fiscal policies. The promising developments in the field of vaccination, combined with the contribution of the FED to the low interest rate environment, enabled us to close 2021 as the best of the worst for the world. In 2021, Nurolbank continued to grow by taking innovative steps towards digitalization while maintaining its strong balance sheet structure and profitability.

Despite the fluctuations in the markets, our bank continued to strengthen its solid liquidity structure and maintained its strong balance sheet structure. Nurolbank increased its loan size to a total of TL 3,457 million, TL 4,488 million in cash, and our profit before tax increased by 75 percent compared to the previous year and reached TL 191 million 143 thousand. According to our bank's December 31, 2021 data, the Capital Adequacy Ratio was 17,93 percent and the equity return on equity ratio was 34,51 percent. Our bank also issued a total of 3,265 million TL of debt instruments at competitive prices during the year.

Our bank is very pleased with the successful acceleration of Nurol Portföy Yönetimi A.Ş., which has 100 percent of its shares, and has a paid-in capital of TL 6 million, which has started to make a difference in the capital markets with its corporate identity and experience. Our company, which established its entire organizational structure and obtained the operating license in 2021, issued 5 Securities Investment Funds, 10 Real Estate Investment Funds and 1 Venture Capital Investment Fund participation shares, all of which are open to TEFAS, also completed the acquisition process of 4 Venture Capital Investment Funds. manages. As of December 31, 2021, the total portfolio size managed is approximately TL 297 million. We aim to complete the year 2022 among the top 20 PYŞ by continuing our sustainable growth steps in the rapidly developing Portfolio Management sector.

Ortak Varlık Yönetim A.Ş. was registered with the Istanbul Chamber of Commerce on January 23.10.2020, 9221 by obtaining the establishment permission with the BRSA's decision dated 22 and numbered 2021. It started its activities after taking the decision of operating permission and publishing this decision in the official gazette on 05.03.2021. Joint Asset Management Inc. In 9447, 10.03.2021% Nurol Investment Bank A.Ş. was established as a subsidiary. As of the end of 2021, the year of its establishment, the principal size of the overdue receivables portfolios purchased by Ortak Varlık Yönetim A.Ş. from financial institutions has exceeded 100 million TL, and the number of real and legal persons served to find solutions for debt liquidation has exceeded 2021. . In the first year of its activity, Ortak Varlık Yönetim A.Ş. It has become one of the leading companies in the sector in terms of both asset size and number of customers.

With its strong performance in 2021, Nurolbank has taken firm steps towards its targets in the coming years. Nurolbank, on the other hand, will continue to grow with its strong shareholder support, competent management team that provides the most important added value, and dynamic and expert employees. With our strong liquidity and capital structure, with our new strategic plans; We will continue to meet their expectations at the highest level by offering the right products to our customers in the coming year as well, with our flexible structure that can produce instant solutions. We will take our service quality one step further with solid, reliable steps by keeping up with the digitalizing age.

We would like to thank our investors, our well-equipped employees and our stakeholders who trust and support us.

Best regards,

Özgür ALTUNTAŞ

Board Member and General Manager

Nurol Bank Hedgers