In the profit distribution, the Company complies with the requirements of the Turkish Code of Commerce, Capital Market Legislation and other applicable legislation and articles of association to which the Company is subject. In principle, minimum 20% of the distributable net profit for the period, which is calculated in accordance with the applicable legislation after taking into account the investment and funding requirements of the Company and its affiliates, profitability and cash position and the developments in the market and in the economic conditions, is envisaged to be distributed to the shareholders in cash and/or as recorded shares. This policy is reviewed every year by the board of directors in line with the developments in the market and in the economic conditions and the Company’s investment and funding requirements. A separate resolution on the profit distribution is taken by the board of directors for every account period and submitted to the general assembly for approval. If the general assembly resolves on the distribution of dividends, the profit distribution in cash should be made until at latest the end of the 3rd month following the date of meeting of the general assembly in which profit distribution was decided. Profit distribution in the form of recorded shares should be made after obtaining the necessary legal consents. The Company may distribute dividend advances to the shareholders in accordance with the Capital Market Law and applicable legislation.
