Consolidated statement of changes in shareholders' equity

For the year ended December 31, 2023

	Share capital	Share premium reserve	Contrac-tual reserve	Develop-ment fund	Fair value reserve	Actuarial result pensions	Trans-lation reserve	Other reserves	Undistributed result	Non-controlling interests	Total

Balance at January 1, 2022	9,076	29,272	2,658,032	657,981	30,910	-7,433	-392	43,338	12,831	24	3,433,639
Exchange differences on associates	-	-	-	-	-	-	17,936	-	-	-	17,936
Fair value reserve of equity instruments at FVOCI	-	-	-	-	10,308	-	-	-	-	-	10,308
Actuarial gains/(losses) on defined benefit plans	-	-	-	-	-	1,212	-	-	-	-	1,212
Income tax effect other comprehensive income	-	-	-	-	-2,659	-312	-	-	-	-	-2,971
Total other comprehensive income, net of tax	-	-	-	-	7,649	900	17,936	-	-	-	26,485
Net profit/(loss)¹	-	-	1,022	-	-	-	-	-	36	-24	1,035
Transfer reserves	-	-	-	-	-	-	-	-	-	-	-
Dividends	-	-	-	-	-	-	-	-	-12,831	-	-12,831
Balance at December 31, 2022	9,076	29,272	2,659,053	657,981	38,559	-6,533	17,544	43,338	36	-	3,448,326
Exchange differences on associates	-	-	-	-	-	-	-9,452	-	-	-	-9,452
Fair value reserve of equity instruments at FVOCI	-	-	-	-	16,341	-	-	-	-	-	16,341
Actuarial gains/(losses) on defined benefit plans	-	-	-	-	-	-4,227	-	-	-	-	-4,227
Income tax effect other comprehensive income	-	-	-	-	-4,216	1,090	-	-	-	-	-3,126
Total other comprehensive income, net of tax	-	-	-	-	12,125	-3,137	-9,452	-	-	-	-464
Net profit /(loss)¹	-	-	62,770	-	-	-	-	36	2,116	-	64,922
Transfer reserves	-	-	-	-	14,524	-	-	-14,524	-	-	-
Dividend declared	-	-	-	-	-	-	-	-	-	-	-
Balance at December 31, 2023	9,076	29,272	2,721,823	657,981	65,208	-9,670	8,092	28,850	2,152	-	3,512,784

1 Under the Agreement State-FMO of November 16, 1998, it is required to add this part of the net profit to the contractual reserve. Therefore this profit is not distributable.

"Transfer reserves" line item relates to the transfer of unrealized fair value gains on financial assets measured at fair value through other comprehensive income to the fair value reserve. The transfer arises out of a reorganization of the underlying group of investee entities which did not result in full realization of the fair value gains.