Holders of the Offer Shares will be entitled to receive dividends payable, if any, on the Offer Shares in respect of the year ending December 31, 2018 and any dividends payable in subsequent years. Pursuant to our dividend policy, according to the Board of Directors’ resolution dated March 9, 2018 and numbered 2018/13, we intend to target a cash dividend distribution in an amount of at least 30.0% of the distributable net profit for the relevant financial year, subject to applicable legislation and the approval of our general assembly. This policy will also be evaluated subject to our cash projections, future expectations, investment plans and conditions in the capital markets. The dividend distribution policy will be reviewed annually by the Board of Directors in light of economic conditions in Turkey and globally, our projects and our financial resources. Payments of dividends are aimed to be completed within 30 days following the General Assembly approval of the dividend decision. The dividend payment date will be decided by the General Assembly.

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