Donation and Grant Policy

Accoding to the Article 45, sub articles (b) and (c) of the Articles of Association the ompany, out of the profit before corporate tax and other taxes and funds levied on the Company, a minimum portion of 2% will be donated to Anadolu Education and Welfare Foundation, as long as it is tax exempt, without prejudice to the dividend stipulated to be paid by the Capital Markets Board. For an amendment in this clause, shareholders representing at least 95% of the Company’s share capital must be present in a meeting of the General Assembly of Shareholders and must vote for such amendment. The limit of the donations and grants shall not exceed the 5% of the profit for the relevant period calculated according to Tax Law, that is permitted to be deducted from the corporate tax basis, taking into account the minimum rate determined in sub article (b) of the Article 45 of the Articles of Association. All donations are required to be disclosed to the information of the shareholders in the General Assembly, grants shall not be against Capital Markets regulations regarding profit shifting, required public announcements must be made and donations made during the year shall not hinder the objectives and scope of business of the company.

The donations and grants under this clause of Articles of Association will be governed by the provisions of the Capital Market law and regulations pertaining to disclosures to public.