The General Assembly of IIA, a subsidiary of our Company, convened on June 20, 2024 with the agenda of increasing the capital to the minimum level in order to close the balance sheet deficits, among other agenda items, and subsequently the registration of the meeting was realized. For the aforementioned transactions, our Company did not exercise its right to participate in the transactions in proportion to its existing shares and did not exercise its right to retain its shares in IIA, and therefore its shareholding in IIA was terminated.

Our company has taken this decision in order to invest in sustainable growth in Europe with its own brand and to further increase its effectiveness and focus with the Karsan brand.

Yours faithfully,

This statement has been translated into English for informational purposes.

In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.