financial institutions of the Target Group Hotels and Resorts 10. Opinion of the Board of Directors The Board of Directors’ Meeting No. 3/ 2018 considered the information presented by the executive committee

continuously generate a return on investment, profit, growth of assets, profits and cash flow to the Company and shareholders in a long-term period. 13. Opinion of the Audit Committee and/or the directors of the

meeting empower the Executive Committee or the Managing Director to amend or change the date of determination of shareholders who shall be entitled to attend the Extraordinary General Meeting of

in which the Principles were to be implemented was left open. The Principles 1 See IOSCO Technical Committee, Statement of Principles Regarding the Activities of Credit Rating Agencies (Sept. 2003

Companies’ future revenue growth and diverse business dependency , expand opportunity in other investments and lead to long-term business sustainability. 12. Opinion of the Audit Committee which is different

the Audit Committee which is different from the opinion of the Board of Directors -None- Responsibilities of the Board of Directors for Disclosures information The Board of Directors of Winner Group

to the Company and its shareholders. 12. Opinion of the Audit Committee which is different from the opinion of the Board of Directors -None- Responsibilities of the Board of Directors for Disclosures

Audit Committee and/or directors of the Company which is different from that of the Board of Directors under clause 9 None The Company certifies that all information contained in this Information

production process for maintaining the competitiveness. In addition, Risk Management Committee of the Company is composed of the executives and the team workers who are responsible in each division, considered

have certain part of business having nature differently from the mother company, of which will generate continued profits in the future. 11. Opinion of the Audit Committee and/or the directors of the