ASSETS TL FC Total TL FC Total

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1 UNCONSOLIDATED BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) AT 31 DECEMBER 2015 ASSETS TL FC Total TL FC Total I. CASH AND BALANCES WITH THE CENTRAL BANK II. FINANCIAL ASSETS AT F.V. THROUGH PROFIT AND LOSS (Net) Trading financial assets Public sector debt securities Share certificates Derivative financial assets held for trading Other marketable securities Financial assets at fair value through profit and loss Public sector debt securities Share certificates Other marketable securities Loans III. BANKS IV. MONEY MARKET PLACEMENTS Interbank money market placements Istanbul Stock Exchange money market placements Receivables from reverse repurchase agreements V. FINANCIAL ASSETS AVAILABLE FOR SALE (Net) Share certificates Public sector debt securities Other marketable securities VI. LOANS Loans Loans to risk group of the Bank Public sector debt securities Other Non performing loans Specific provisions (-) (57.754) (1.651) (59.405) (14.897) (2.039) (16.936) VII. FACTORING RECEIVABLES VIII. HELD TO MATURITY INVESTMENTS (Net) Public sector debt securities Other marketable securities IX. INVESTMENTS IN ASSOCIATES (Net) Accounted for under equity method Unconsolidated associates Financial investments Non-financial investments X. INVESTMENTS IN SUBSIDIARIES (Net) Unconsolidated financial subsidiaries Unconsolidated non-financial subsidiaries XI. ENTITIES UNDER COMMON CONTROL (JOINT VENT.) (Net) Consolidated under equity method Unconsolidated Financial subsidiaries Non-financial subsidiaries XII. LEASE RECEIVABLES (Net) Finance lease receivables Operating lease receivables Other Unearned income ( - ) - (98) (98) - (87) (87) XIII. DERIVATIVE FINANCIAL ASSETS FOR HEDGING PURPOSES Fair value hedge Cash flow hedge Hedge of net investment in foreign operations XIV. TANGIBLE ASSETS (Net) XV. INTANGIBLE ASSETS (Net) Goodwill Other XVI. INVESTMENT PROPERTY (Net) XVII. TAX ASSET Current tax asset Deferred tax asset XVIII. ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Net) Assets held for sale Assets of discontinued operations XIX. OTHER ASSETS TOTAL ASSETS

2 UNCONSOLIDATED BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) AT 31 DECEMBER 2015 LIABILITIES TL FC Total TL FC Total I. DEPOSITS Deposits from Risk Group of the Bank Other II. DERIVATIVE FINANCIAL LIABILITIES HELD FOR TRADING III. FUNDS BORROWED IV. MONEY MARKET BALANCES Interbank money market takings Istanbul Stock Exchange money market takings Funds provided under repurchase agreements V. MARKETABLE SECURITIES ISSUED (Net) Bills Asset backed securities Bonds VI. FUNDS Borrower funds Others VII. SUNDRY CREDITORS VIII. OTHER LIABILITIES IX. FACTORING PAYABLES X. LEASE PAYABLES Finance lease payables Operating lease payables Other Deferred finance lease expenses ( - ) XI. DERIVATIVE FINANCIAL LIABILITIES FOR HEDGING PURPOSES Fair value hedge Cash flow hedge Hedge of net investment in foreign operations XII. PROVISIONS General loan loss provisions Restructuring provisions Reserve for employee benefits Insurance technical reserves (Net) Other provisions XIII. TAX LIABILITY Current tax liability Deferred tax liability XIV. PAYABLES RELATED TO ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS Held for sale Discontinued operations XV. SUBORDINATED LOANS XVI. SHAREHOLDERS' EQ UITY Paid-in capital Capital reserves (33.228) (21.940) Share premium Share cancellation profits Marketable securities value increase fund (64.633) (53.345) Tangible assets revaluation differences Intangible assets revaluation differences Investment property revaluation differences Bonus shares obtained from associates, subsidiaries and jointly controlled entities (Joint Vent.) Hedging funds (Effective portion) Accumulated valuation differences from assets held for sale and from discontinued operations Other capital reserves Profit reserves Legal reserves Statutory reserves Extraordinary reserves Other profit reserves Profit or loss Prior years' income/losses Current year income/loss TOTAL LIABILITIES AND EQ UITY

3 UNCONSOLIDATED STATEMENT OF OFF-BALANCE SHEET ITEMS AT 31 DECEMBER 2015 TL FC Total TL FC Total A. OFF BALANCE SHEET COMMITMENTS AND CONTINGENCIES (I+II+III) I. GUARANTEES AND COLLATERALS Letters of guarantee Guarantees subject to State Tender Law Guarantees given for foreign trade operations Other letters of guarantee Bank acceptances Import letters of acceptance Other bank acceptances Letters of credit Documentary letters of credit Other letters of credit Prefinancing given as guarantee Endorsements Endorsements to the Central Bank of Turkey Other endorsements Securities issue purchase guarantees Factoring guarantees Other guarantees Other collaterals II. COMMITMENTS Irrevocable commitments Forward asset purchase and sales commitments Forward deposit purchase and sales commitments Share capital commitment to associates and subsidiaries Loan granting commitments Securities underwriting commitments Commitments for reserve deposit requirements Payment commitment for checks Tax and fund liabilities from export commitments Commitments for credit card expenditure limits Commitments for promotions related with credit cards and banking activities Receivables from short sale commitments Payables for short sale commitments Other irrevocable commitments Revocable commitments Revocable loan granting commitments Other revocable commitments III. DERIVATIVE FINANCIAL INSTRUMENTS Derivative financial instruments for hedging purposes Fair value hedge Cash flow hedge Hedge of net investment in foreign operations Held for trading transactions Forward foreign currency buy/sell transactions Forward foreign currency transactions-buy Forward foreign currency transactions-sell Swap transactions related to f.c. and interest rates Foreign currency swaps-buy Foreign currency swaps-sell Interest rate swaps-buy Interest rate swaps-sell Foreign currency, interest rate and securities options Foreign currency options-buy Foreign currency options-sell Interest rate options-buy Interest rate options-sell Securities options-buy Securities options-sell Foreign currency futures Foreign currency futures-buy Foreign currency futures-sell Interest rate futures Interest rate futures-buy Interest rate futures-sell Other B. CUSTODY AND PLEDGED SECURITIES (IV+V+VI) IV. ITEMS HELD IN CUSTODY Customers securities held Investment securities held in custody Checks received for collection Commercial notes received for collection Other assets received for collection Assets received for public offering Other items under custody Custodians V. PLEDGED ITEMS Marketable securities Guarantee notes Commodity Warranty Real estates Other pledged items Pledged items-depository VI. ACCEPTED BILLS OF EXCHANGE AND COLLATERALS TOTAL OFF BALANCE SHEET ITEMS (A+B)

4 UNCONSOLIDATED INCOME STATEMENT 1 January January 2014 I. INTEREST INCOME Interest on loans Interest received from reserve deposits Interest received from banks Interest received from money market placements Interest received from marketable securities portfolio Financial assets held for trading Financial assets at fair value through profit and loss Available-for-sale financial assets Investments held-to-maturity Finance lease income Other interest income II. INTEREST EXPENSES ( ) ( ) 2.1 Interest on deposits Interest on funds borrowed ( ) ( ) 2.3 Interest on money market borrowings ( ) ( ) 2.4 Interest on securities issued (92.869) (8.025) 2.5 Other interest expense (206) (54) III. NET INTEREST INCOME (I - II) IV. NET FEES AND COMMISSIONS INCOME Fees and commissions received Non-cash loans Other Fees and commissions paid (2.395) (977) Non-cash loans (8) (4) Other (2.387) (973) V. DIVIDEND INCOME VI. NET TRADING INCOME (1.983) Securities trading gains/ (losses) (1.605) 6.2 Derivative financial instruments gains/losses ( ) (66.817) 6.3 Foreign exchange gains/losses (net) VII. OTHER OPERATING INCOME VIII. TOTAL OPERATING INCOME (III+IV+V+VI+VII) IX. PROVISION FOR LOAN LOSSES AND OTHER RECEIVABLES (-) ( ) (60.110) X. OTHER OPERATING EXPENSES (-) ( ) ( ) XI. NET OPERATING INCOME/(LOSS) (VIII-IX-X) XII. AMOUNT IN EXCESS RECORDED AS GAIN AFTER MERGER - - XIII. PROFIT / (LOSS) ON EQ UITY METHOD - - XIV. GAIN / (LOSS) ON NET MONETARY POSITION - - XV. PROFIT/(LOSS) FROM CONTINUED OPERATIONS BEFORE TAXES (XI+XII+XIII+XIV) XVI. TAX PROVISION FOR CONTINUED OPERATIONS (±) ( ) (92.404) 16.1 Provision for current income taxes (76.641) ( ) 16.2 Provision for deferred taxes (24.969) XVII. NET PROFIT/(LOSS) FROM CONTINUED OPERATIONS (XV±XVI) XVIII. INCOME ON DISCONTINUED OPERATIONS Income on assets held for sale Income on sale of associates, subsidiaries and jointly controlled entities (Joint vent.) Income on other discontinued operations - - XIX. LOSS FROM DISCONTINUED OPERATIONS (-) Loss from assets held for sale Loss on sale of associates, subsidiaries and jointly controlled entities (Joint vent.) Loss from other discontinued operations - - XX. PROFIT / (LOSS) ON DISCONTINUED OPERATIONS BEFORE TAXES (XVIII-XIX) - - XXI. TAX PROVISION FOR DISCONTINUED OPERATIONS(±) Provision for current income taxes Provision for deferred taxes - - XXII. NET PROFIT/LOSS FROM DISCONTINUED OPERATIONS (XX±XXI) - - XXIII. NET PROFIT/LOSS (XVII+XXII) Earnings / (losses) per share 0,232 0,211 4

5 TÜRKİYE SINAI KALKINMA BANKASI A.Ş. UNCONSOLIDATED STATEMENT OF COMPHERENSIVE INCOME PROFIT AND LOSS ITEMS ACCOUNTED FOR UNDER SHAREHOLDER S EQUITY 1 January January 2014 I. ADDITIONS TO MARKETABLE SECURITIES REVALUATION DIFFERENCES FOR AVAILABLE FOR SALE FINANCIAL ASSETS ( ) II. TANGIBLE ASSETS REVALUATION DIFFERENCES III. INTANGIBLE ASSETS REVALUATION DIFFERENCES - - IV. TRANSLATION DIFFERENCES FOR TRANSACTIONS IN FOREIGN CURRENCIES - - V. GAIN/LOSS ON DERIVATIVE FINANCIAL ASSETS HELD FOR CASH FLOW HEDGES (effective portion of fair value differences) - - VI. GAIN/LOSS ON DERIVATIVE FINANCIAL ASSETS HELD FOR HEDGES OF NET INVESTMENT IN FOREIGN OPERATIONS (effective portion) - - VII. EFFECTS OF CHANGES IN ACCOUNTING POLICIES AND CORRECTIONS OF ERRORS - - VIII. OTHER PROFIT/LOSS ITEMS ACCOUNTED FOR UNDER SHAREHOLDERS' EQUITY AS PER TAS (18.789) (6.532) IX. DEFERRED TAX OF VALUATION DIFFERENCES (27.922) X. NET PROFIT/LOSS ACCOUNTED FOR DIRECTLY UNDER SHAREHOLDERS' EQUITY (I+II+...+IX) ( ) XI. CURRENT YEAR PROFIT/LOSS Net changes in fair value of securities (Recycled to Profit/Loss) (136) 11.2 Reclassification of and recycling derivatives accounted for cash flow hedge purposes to Income Statement Recycling hedge of net investments in foreign operations to Income Statement Other XII. TOTAL PROFIT/LOSS ACCOUNTED FOR THE CURRENT PERIOD (X±XI) The accompanying notes are an integral part of these consolidated financial statements 5

6 TÜRKİYE SINAI KALKINMA BANKASI A.Ş. UNCONSOLIDATED STATEMENT OF CHANGES IN EQUITY Paid in Capital Effect of Inflation on Paid in Capital Share Premiums Share Cancellation Profits Legal Status Extraordinary CHANGES IN SHAREHOLDER'S EQUITY Note Ref. I. Opening Balance (4.673) Changes during the period II. Increase / Decrease related to merger III. Marketable securities value increase fund IV. Hedging (Effective portion) Cash-flow hedge Hedge of net investment in foreign operations V. Tangible assets revaluation differences (400) VI. Intangible assets revaluation differences VII. Bonus shares obtained from associates, subsidiaries and jointly controlled entities (Joint Vent.) VIII. Foreign exchange differences IX. Disposal of assets X. Reclassification of assets XI. Effect of change in equities of associates on bank's equity XII. Capital increase ( ) Cash Internal sources ( ) XIII. Share issuance XIV. Share cancellation profits XV. Effect of inflation on paid-in capital XVI. Other (591) (591) - (591) XVII. Period net income XVIII. Profit distribution ( ) (72.581) - (72.581) 18.1 Dividends distributed (72.581) (72.581) - (72.581) 18.2 Transfers to reserves (53.076) Other Closing Balance I. Opening Balance Changes during the period II. Increase / Decrease related to merger III. Marketable securities value increase fund ( ) ( ) - ( ) IV. Hedging (Effective portion) Cash-flow hedge Hedge of net investment in foreign operations V. Tangible assets revaluation differences (7.616) VI. Intangible assets revaluation differences VII. Bonus shares obtained from associates, subsidiaries and jointly controlled entities (Joint Vent.) VIII. Foreign exchange differences IX. Disposal of assets X. Reclassification of assets XI. Effect of change in equities of associates on bank's equity XII. Capital increase (1) ( ) - (16.000) Cash Internal sources ( ) - (16.000) XIII. Share issuance XIV. Share cancellation profits XV. Effect of inflation on paid-in capital XVI. Other - (317) (65) (382) - (382) XVII. Period net income XVIII. Profit distribution ( ) (80.262) - (80.262) 18.1 Dividends distributed (80.262) (80.262) - (80.262) 18.2 Transfers to reserves (47.396) Other Closing Balance (53.345) Other Current Period Net Profit / Loss Prior Period Net Profit / Loss Marketable Securities Value Increase Fund Tangible and Intangible Assets Revaluation Differences Bonus Shares Obtained from Associates, Subs and Jointly Controlled Entities Hedging Revaluation Surplus on Assets Held for sale and on Disc. Operations Shareholders Equity Before Noncontrolling Interest Non- Controlling Interest Total Shareholders Equity 6

7 TÜRKİYE SINAI KALKINMA BANKASI A.Ş. UNCONSOLIDATED STATEMENT OF CASH FLOWS (Amounts expressed in thousands of Turkish Lira (TL) unless otherwise stated. A. CASH FLOWS FROM BANKING OPERATIONS 1.1 Operating profit before changes in operating assets and liabilities Interest received Interest paid ( ) ( ) Dividends received Fees and commissions received Other income Collections from previously written off loans Payments to personnel and service suppliers (66.336) (57.844) Taxes paid (67.186) ( ) Others Changes in operating assets and liabilities ( ) Net (increase) decrease in financial assets (28.145) Net (increase) decrease in financial assets at fair value through profit or loss Net (increase) decrease in due from banks and other financial institutions (202) Net (increase) decrease in loans ( ) ( ) Net (increase) decrease in other assets ( ) ( ) Net increase (decrease) in bank deposits Net increase (decrease) in other deposits Net increase (decrease) in funds borrowed Net increase (decrease) in matured payables Net increase (decrease) in other liabilities I. Net cash provided by/(used in) banking operations ( ) B. CASH FLOWS FROM INVESTING ACTIVITIES II. Net cash provided by/(used in) investing activities ( ) ( ) 2.1 Cash paid for purchase of entities under common control, associates and subsidiaries - (200) 2.2 Cash obtained from sale of entities under common control, associates and subsidiaries Fixed asset purchases (19.687) (6.689) 2.4 Fixed asset sales Cash paid for purchase of financial assets available for sale ( ) ( ) 2.6 Cash obtained from sale of financial assets available for sale Cash paid for purchase of investment securities Cash obtained from sale of investment securities (*) Others (303) (343) C. CASH FLOWS FROM FINANCING ACTIVITIES III. Net cash provided by/(used in) financing activities Cash obtained from funds borrowed and securities issued Cash used for repayment of funds borrowed and securities issued Capital increase Dividends paid (80.262) (72.581) 3.5 Payments for finance leases Other (1.683) - IV. Effect of change in foreign exchange rate on cash and cash equivalents V. Net increase / (decrease) in cash and cash equivalents VI. Cash and cash equivalents at beginning of the period VII. Cash and cash equivalents at end of the period

8 UNCONSOLIDATED STATEMENT OF PROFIT DISTRIBUTION I. DISTRIBUTION OF CURRENT YEAR INCOME (*) 1.1 CURRENT YEAR INCOME TAXES AND DUTIES PAYABLE ( ) (92.404) Corporate Tax (Income tax) (76.641) ( ) Income withholding tax Other taxes and duties (24.969) A. NET INCOME FOR THE YEAR ( ) PRIOR YEARS LOSSES (-)(*) FIRST LEGAL RESERVES (-) OTHER STATUTORY RESERVES (-) - - B. NET PROFIT AVAILABLE FOR DISTRIBUTION [(A-( )] FIRST DIVIDEND TO SHAREHOLDERS (-) To owners of ordinary shares To owners of preferred shares To owners of preferred shares (pre-emptive rights) To profit sharing bonds To holders of profit and loss sharing certificates DIVIDENDS TO PERSONNEL (-) DIVIDENDS TO BOARD OF DIRECTORS (-) SECOND DIVIDEND TO SHAREHOLDERS (-) To owners of ordinary shares To owners of preferred shares To owners of preferred shares (pre-emptive rights) To profit sharing bonds To holders of profit and loss sharing certificates SECOND LEGAL RESERVES (-) STATUTORY RESERVES (-) GENERAL RESERVES OTHER RESERVES SPECIAL FUNDS II. DISTRIBUTION OF RESERVES APPROPRIATED RESERVES SECOND LEGAL RESERVES (-) DIVIDENDS TO SHAREHOLDERS (-) To owners of ordinary shares To owners of preferred shares To owners of preferred shares (pre-emptive rights) To profit sharing bonds To holders of profit and loss sharing certificates DIVIDENDS TO PERSONNEL (-) DIVIDENDS TO BOARD OF DIRECTORS (-) - - III. EARNINGS PER SHARE 3.1 TO OWNERS OF ORDINARY SHARES 0,23 0, TO OWNERS OF ORDINARY SHARES (%) 23,25 21, TO OWNERS OF PRIVILEGED SHARES TO OWNERS OF PRIVILEGED SHARES (%) - - IV. DIVIDEND PER SHARE 4.1 TO OWNERS OF ORDINARY SHARES - 0, TO OWNERS OF ORDINARY SHARES (%) - 20, TO OWNERS OF PRIVILAGED SHARES TO OWNERS OF PRIVILEGED SHARES ( % ) - - (*) Since the Board of Directors has not yet prepared any proposal for profit distribution relating to the year 2015, profit available for distribution for the year 2015 was presented only. (**) Income statement and statement of profit distribution is nominal shares at TL 0,01, profit per share is calculated nominal shares for TL 0,01. 8

TOTAL ASSETS

TOTAL ASSETS UNCONSOLIDATED BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) AT 30 SEPTEMBER 2015 Audited 31 December 2014 ASSETS Note Ref. TL FC Total TL FC Total I. CASH AND BALANCES WITH THE CENTRAL BANK (1) 28.229