Dardania sh.a Insurance Company 4

Financial Statements As of and for the period from 08 February 2010 through 31 December 2010

See accompanying notes to the financial statements

Statement of financial position

(000 EUR) As of 31 December

Notes 31 December

2010 31 December

2009

Assets Cash and cash equivalents 10 3,098 3,153

Insurance receivables 11 114 219 Deferred acquisition costs 12 467 173 Property and equipment 13 2,668 86

Goodwill 14 600 - Other current assets 15 64 47

Total assets 7,011 3,678

Equity and liabilities

Equity 16 Share capital 3,000 3,000

Accumulated (losses) (5,091) (4,449) Other reserves 3,960 -

Total equity 1,869 (1,449)

Liabilities Outstanding claims provision 17 2,815 2,721

Provision for unearned premium 1,958 735 Interest bearing borrowings 18 - 216 Other liabilities 19 369 1,455

Total liabilities 5,142 5,127

Total equity and liabilities 7,011 3,678

These financial statements have been approved by the Company‟s Management on 24 March 2011

and signed on its behalf by,

Mr. Riza Luka Mr. Bekim Makiqi

General Director Finance Director

Dardania sh.a Insurance Company 5

Financial Statements As of and for the period from 08 February 2010 through 31 December 2010

See accompanying notes to the financial statements

Statement of changes in equity

(000 EUR)

Share

Capital Accumulated

(losses) Other

reserves Total At 08 February 2010 3,000 (4,492) - (1,492)

Additionally paid in capital - - 1,500 1,500 Increase in capital (Note 13) - - 2,460 2,460

Transactions with owners - - 3,960 3,960

Loss for the period - (599) - (599) Other comprehensive income - - - -

Total comprehensive income - (599) - (599)

At 31 December 2010 3,000 (5,091) 3,960 1,869

At 01 January 2009 3,000 (457) - 2,543

Transactions with owners - - - - (Loss) for the year - (3,992) - (3,992) Other comprehensive income - - - -

Total comprehensive income - (3,992) - (3,992)

At 31 December 2009 3,000 (4,449) - (1,449)