TCMA 2020 ANNUAL REPORT

Assets Current Period Audited December, 31 2020 Prior Period Audited December, 31 2019 Current assets: Cash and cash equivalents 5,579,733 6,143,334 Securities 3,658,468 7,769,188 Receivables from operations 1,098,745 846,583 Prepaid expenses 253,467 288,079 Other current assets 7,874 11,136 Total current assets 10,598,287 15,058,320 Non – current assets: Financial investments 18,596,484 10,242,042 Property and equipment 4,910,318 4,670,758 Intangible assets 321,603 321,603 Accumulated depreciation and amortization (5,231,921) (4,992,361) Other non – current assets 10,822 7,822 Total non – current assets 18,607,306 10,249,864 Total assets 29,205,593 25,308,184 Liabilities and equity Current liabilities: Trade payables 14,164 45,462 Other payables 27,778 33,042 Advances received 41,146 34,146 Taxes and other obligations 302,453 342,634 Deferred income and expense accruals 1,061,575 786,733 Liabilities for employees 826,692 922,526 Expense accruals for acquisition of subsidiaries and investments - 6,288,186 Total current liabilities 2,273,808 8,452,729 Non - current liabilities: Reserve for employee termination benefits 2,259,839 1,856,834 Total non - current liabilities 2,259,839 1,856,834 Total liabilities 4,533,647 10,309,563 Equity: Funds 18,601,484 10,247,042 Statutory reserve 4,707,675 3,513,750 İncome surplus 1,362,787 1,237,829 Total equity 24,671,946 14,998,621 Total liabilities and equity 29,205,593 25,308,184 TURKISH CAPITAL MARKETS ASSOCIATION AND ITS OPERATING ENTITY (CONVENIENCE TRANSLATION OF A REPORT AND CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH) (CURRENCY – TURKISH LIRA (TL)) CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2020 66 TCMA 2020 ANNUAL REPORT