<SEC-DOCUMENT>0000947871-20-000712.txt : 20200831
<SEC-HEADER>0000947871-20-000712.hdr.sgml : 20200831
<ACCEPTANCE-DATETIME>20200831115645
ACCESSION NUMBER:		0000947871-20-000712
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200831
FILED AS OF DATE:		20200831
DATE AS OF CHANGE:		20200831

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TURKCELL ILETISIM HIZMETLERI A S
		CENTRAL INDEX KEY:			0001071321
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			W8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15092
		FILM NUMBER:		201150541

	BUSINESS ADDRESS:	
		STREET 1:		AYDINEVLER MAHALLESI INONU CADDESI NO 20
		STREET 2:		KUCUKYALI OFISPARK, MALTEPE
		CITY:			ISTANBUL
		STATE:			W8
		ZIP:			34854
		BUSINESS PHONE:		902123131244

	MAIL ADDRESS:	
		STREET 1:		AYDINEVLER MAHALLESI INONU CADDESI NO 20
		STREET 2:		KUCUKYALI OFISPARK, MALTEPE
		CITY:			ISTANBUL
		STATE:			W8
		ZIP:			34854
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ss180833_6k.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>UNITED STATES SECURITIES AND EXCHANGE
COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>FORM 6-K</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Report on Form 6-K dated August 31,
2020</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Commission File Number: 001-15092</B></P>



<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 50%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TURKCELL ILETISIM HIZMETLERI A.S.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Translation of registrant&rsquo;s name in English)</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Ayd&#305;nevler Mahallesi &#304;n&ouml;n&uuml;
Caddesi No:20</B></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>K&uuml;&ccedil;&uuml;kyal&#305; Ofispark
</B></P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>34854 Maltepe<BR>
Istanbul, Turkey </B></P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of Principal Executive Offices)&nbsp;</P>



<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 50%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Indicate by check mark whether the
registrant files or will file annual reports under cover of Form&nbsp;20-F or Form 40-F.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 11pt">Form 20-F
</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT><FONT STYLE="font-size: 11pt">&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form 40-F </FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 11pt">Yes </FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT><FONT STYLE="font-size: 11pt">&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 11pt">Yes </FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT><FONT STYLE="font-size: 11pt">&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Indicate by check mark whether the registrant
by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-size: 11pt">Yes </FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT><FONT STYLE="font-size: 11pt">&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">If &ldquo;Yes&rdquo; is marked, indicate
below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- __________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Enclosure: A press release dated August 31, 2020, regarding the
amendment to the Articles of Association.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-size: 11pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 47px; width: 184px"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">Istanbul, August 31, 2020</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Announcement Regarding the Amendment to the Articles of Association</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 1pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 11pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">Our Company&rsquo;s Board of Directors
has decided that necessary actions will be taken to obtain the approval of the Capital Markets Board and the Ministry of Trade,
for amendment of the Articles of Association as attached, in accordance with the principles of Capital Markets Law, the Turkish
Commercial Code, and related legislation. Amendment to the Articles of Association is subject to approval of the General Assembly.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><B><I>For more information:</I></B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0"><I>Turkcell Investor Relations</I></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0"><FONT STYLE="color: Blue"><I><U>investor.relations@turkcell.com.tr</U></I></FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0"><I>Tel: + 90 212 313 1888</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 50%"><B>CURRENT VERSION</TD>
    <TD STYLE="text-align: center; border: Black 1pt solid; width: 50%"><B>AMENDED VERSION</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 3 - AIM AND SUBJECT-MATTER </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is incorporated primarily for the
provision of any telephone, telecommunication and similar services in compliance with the Telegraph and Telephone Law number 406
and services stated in the GSM Pan Europe Mobile Telephone System bid that was signed with the Ministry of Transportation and to
operate within the authorization regarding the IMT-2000/UMTS services and the infrastructure.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In order to reach the above-mentioned subject
matter, the Company may:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>1)</B> enter into service, proxy, agency,
commission agreements, undertakings and any other agreements within the purpose and the subject-matter of the Company and within
this scope obtain short, middle and long term credits and loans or issue, accept and endorse bonds, extend credits to the companies
in Turkey and abroad, in which it has direct or indirect shareholding interest, to its main company and group companies, in Turkish
Lira or other foreign currencies, on condition that such extensions do not contradict with laws and regulations.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>2)</B> cooperate, establish new companies
or enterprises with existing or future local or foreign individuals or legal entities; completely or partially acquire local or
foreign companies or enterprises, participate in share capitals of such companies or enterprises, establish agencies in Turkey
and abroad, participate in foundations constituted for various purposes, reserve part of the profit for or be authorized to pay
dividends and make donations to this kind of real or legal person and in the event a donation is made or part of the profits is
reserved for foundations or this kind of real or legal entity, the rules provided by the Capital Markets Board will be complied
with and the notifications required by the Capital Markets Board will be made,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 3 &ndash; <U>PURPOSE AND SCOPE</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is incorporated to primarily <B><U>provide
the services within the context of concession agreements signed with the Information Technologies and Communication Authority with
regard to &ldquo;Granting License of Establishing and Operating GSM Pan Europe Mobile Telephone System&rdquo;, &ldquo;Establishing,
Operating and Providing </U></B>IMT-2000/UMTS <B><U>Infrastructures and Services&rdquo; and &ldquo;Authorisation Certificate for
Limited Usage Rights with regard to IMT Services&rdquo; and other services under the relevant legislation and administrative acts.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In order to <B><U>achieve</U></B> the above-mentioned
<B><U>purpose</U></B>, the Company may:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>1)</B> enter into service, <U>proxy, agency,</U>
commission <B><U>agreements, undertakings</U></B> and any other agreements necessitated by the purpose and scope of business of
the Company and obtain short, middle and long term credits and loans or issue, accept and endorse any bonds, extend credits to
the companies in Turkey and abroad, in which it has direct or indirect shareholding interest, to its parent company and group companies,
in Turkish Lira or other foreign currencies, on the condition that such extensions do not contradict with laws and regulations;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>2)</B> cooperate, establish <B><U>new partnerships
or</U></B> companies or undertake enterprises <B><U>with</U></B> existing or future local or foreign individuals or legal entities;
completely or partially take over local or foreign companies or enterprises, participate in share capitals of such companies or
enterprises, establish <B><U>representative offices</U></B> in Turkey and abroad, participate in foundations constituted for various
purposes, <B><U>allocate assets to foundations which are or will be established by the Company or to those already established
by others,</U></B> set aside part of the profit for or pay <B><U>dividends or advance dividends</U></B> and make <B><U>all kind
of</U></B> donations <B><U>and aids</U></B> to such kind of real or legal persons <B><U>on the condition of not violating its purpose
and scope of business. Transactions within the scope of this provision shall not be performed contrary to the transfer pricing
regulations under the capital markets legislation </U></B>and <B><U>to other related legislation, the upper limit of the donation
shall be determined by the general assembly,</U></B> necessary <B><U>public disclosures shall be made and, if required by the applicable
legislation, donations made within a year shall be submitted to the shareholder&rsquo;s information at the general assembly;</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>3)</B> issue, acquire, sell, create security
over or to perform any other legal actions of all kind of securities, commercial papers, profit sharing instruments, bond and convertible
bonds via board resolutions under the conditions authorized by the relevant legislation provided that such actions are not qualified
as brokerage activities and portfolio management;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>4)</B> enter into licence, concession, trademark,
know-how, technical information and assistance and any other intellectual property right agreements and acquire and give a license
to such rights and register them;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>5)</B> acquire, lease, rent and sell of
all types of movable and immovable property; construct plant or any other buildings; enter into financial leasing agreements; acquire
any of the personal or property rights regarding movable and immovable property, including but not limited to, promise to sell,
pledges, mortgages and commercial business pledges; register them in title deeds; accept mortgage from third parties; discharge
pledges and mortgages created in favour of the Company; create security over movable and immovable properties owned by the Company,
including creation of mortgage, pledge and commercial enterprises pledge, on its own or in favour of the companies which are fully
consolidated in financial statements of the Company or in favour of the third parties&rsquo; on condition that the context of the
ordinary business operations of the Company directly requires, as necessitated by the aim and subject matter of the Company, provided
that the Company shall comply with the principles regulated in accordance with the capital markets legislation regarding the transactions
of providing guarantees or pledges including mortgages to third parties and disclosures necessary in accordance with the Capital
Market Board within the scope of special circumstances, be made in order to inform investors in transactions to be performed in
favour of third parties.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>3)</B> issue, <B><U>acquire, sell,</U></B>
dispose of, create security over or to perform any other legal actions on all kind of securities, commercial papers, profit sharing
instruments, bonds and convertible bonds via board resolutions <B><U>when</U></B> authorised by the relevant legislation and provided
that such actions are <B><U>not qualified as investment services and activities</U></B>;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>4)</B> enter into license, concession, <B><U>trademark,</U></B>
know-how, technical information and assistance <B><U>and any other</U></B> intellectual property <B><U>right agreements</U></B>
and acquire, <B><U>lease and </U></B>register <B><U>these </U></B>rights;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>5)</B> as necessitated by <B><U>the purpose
and scope of business</U></B> of the Company; acquire, lease, <B><U>rent </U></B>and sell of all types of movable and immovable
property; construct plants and any kind of buildings; enter into financial leasing <B><U>agreements;</U></B> acquire, register
and annotate in titled deeds and relevant registries any personal or in-rem rights regarding movable and immovable property, including
but not limited to, promise to sell, pledge, <B><U>mortgage,</U></B> commercial enterprise pledge <B><U>and chattel mortgage</U></B>;
accept mortgage from third parties; release pledges and mortgages established in favour of the Company; create security over movable
and immovable properties owned by the Company, in whatsoever name or form, including mortgage, pledge, commercial enterprises pledge
and <B><U>chattel mortgage</U></B>, in its own name or in favour of the companies which are included within the fully consolidated
companies in preparation of its financial statements <B><U>or </U></B>in favour of the third parties on the condition of being
within the purpose of conducting the ordinary business operations of the Company; provided that the principles regulated in accordance
with the capital markets legislation <B><U>shall be complied with</U></B> regarding the Company&rsquo;s transactions of providing
guarantees, sureties, security interests or pledges including mortgages, in its own name or in favour of third parties and disclosures
required <B><U>under the capital markets legislation</U></B> shall be made in order to inform investors <B><U>in case</U></B> special
<B><U>circumstances arise</U></B> in transactions to be performed in favour of third parties;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>6)</B> enter into other enterprises, relevant
transactions and agreements necessitated by the aim and the subject matter of the Company;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>7)</B> register SIM card trademark and symbol;
sell, lease, re-purchase, re-sell the same; agree with dealers abroad or in the country for the sale of such cards; export same;
import other SIM cards and perform all related actions;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, if it is deemed appropriate and
beneficial for the Company to perform any transactions other than those stated above, upon the proposal of the Board of Directors,
the matter shall be submitted to the approval of the General Assembly and may be performed pursuant to the resolution of the General
Assembly. In order for such changes to be effective, the permissions of the Foreign Investment Directorate, the Ministry of Industry
and Commerce and the Capital Market Board shall be obtained, registered with the Trade Registry and announced in the Trade Registry
Gazette as amendments to the Articles of Association.</P>



</TD>
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>6)</B> undertake other enterprises and enter
into necessary business, transactions and agreements as necessitated by <B><U>the purpose and scope of business</U></B> of the
Company;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>7)</B> register SIM card trademarks and
<B><U>symbols</U></B>; sell, lease, re-purchase, re-sell the same through other vendors; agree with dealers abroad or in the country
for the sale of such cards; export the same; import other SIM cards and perform all related dispositions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; font: 12pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0"><B><U>The Company, via the General Assembly&rsquo;s
decision, may perform activities other than those listed herein, by fulfilling requirements envisaged under the legislation and
on the condition of not contradicting with the relevant legislation, which are related to or </U></B>deemed beneficial <B><U>for
its scope of business.</U></B></P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 6 &ndash; SHARE CAPITAL </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">The registered capital of the
Company is 2.200.000.000 (Twobilliontwohundred-million) New Turkish Liras, divided into registered shares of 2.200.000.000
(Two-billiontwohundredmillion), having a value of 1.- (One) New Turkish Liras each. The Company&rsquo;s issued share capital,
is 1,474,639,361 (Onebillionfourhundred-seventyfourmillionsixhundred andthirtyninethousandthreehundredandsixtyone) New
Turkish Liras and fully paid in compliance with the Incentive and Investment Allowance Certificate of Foreign Capital General
Directorate of the Undersecretariat of Treasury of the Prime Ministry of the Republic of Turkey dated 23 August 1993 and
numbered 1746 and its special conditions dated 19.12.1994 and Incentive and Investment Allowance Certificate dated 6 November
1997 and 2741 numbered and its special conditions dated 16.07.1999, 16.12.1999 and 30.11.2000 and Incentive and Investment
Allowance Certificate dated 26 February 2001 and 3704 numbered and is divided into 1,474,639,361 (Onebillion
fourhundredandseventyfourmillionsixhundredand thirtyninethousandthreehundredandsixtyone) shares.</P>


</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 6 &ndash; SHARE CAPITAL OF
THE COMPANY</B></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The Company adopted the registered
capital system as per Capital Markets Law numbered 6362 and implemented the registered capital system by the Capital Markets Board&rsquo;s
permit dated 13.04.2000 and numbered 40/572. </U></B></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The ceiling for registered capital
of the Company is TRY </U></B>2,200,000,000 <B><U>(twobilliontwohundredmillion Turkish Liras). </U></B></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The Company&rsquo;s issued share
capital is TRY 2,200,000,000 (twobilliontwohundred million Turkish Liras) and fully paid and is divided into</U></B> 2,200,000,000
(twobilliontwohundred) registered shares <B><U>each having a nominal value of TRY 1.00 (one Turkish Lira), and the said issued
share capital is fully paid free of collusion.</U></B></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The authorisation for the ceiling
of registered capital granted by the Capital Markets Board, shall be valid for the years 2019 through 2023 (5 years). After the
year 2023, it is mandatory for the Board of Directors to be able to resolve on share capital increase, to obtain the authorisation
of the General Assembly by also obtaining the Capital Markets Board&rsquo;s permit for a new ceiling amount to be valid for a term
of up to 5 (five) years. In case the abovementioned authorisation is not obtained, capital increase cannot be made with a Board
of Directors resolution.</U></B></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 12pt Times New Roman, Times, Serif; margin: 0"><B><U>The Board of Directors is authorised, at times it deems required,
in accordance with the provisions of Capital Markets Law, to increase the issued share capital by issuing new shares up to the
authorised ceiling of registered capital and to take a decision on the issuance of premium shares also up to the authorised ceiling
of registered capital. The Board of Directors is not authorised to limit the pre-emption rights of the shareholders. </U></B></P>



</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 7 - SHARE TRANSFER</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Transfer of Shares is subject to the provisions
of the Turkish Commercial Code, Capital Market Legislation and the Regulations on Value Added Telecommunications Services.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board of Directors may restrict the share
transfers to the foreigners in order to comply with the restrictions concerning the shareholders determined under the Regulations
on Value Added Telecommunications Services and/or other legislation, of which the Company is subject to.</P>



</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 7 &ndash; <U>SHARES AND</U> SHARE
TRANSFER</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<P STYLE="text-align: justify; margin: 0 0 0 24pt; text-indent: -24pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt"><B>7.1.&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 12pt"><U>Shares:
Total 2,200,000,000 (twobillionandtwohundredmillion) shares representing the issued share capital of the company are divided into
two groups; Group (A) shares and Group (B) shares.</U></FONT></B></P>
<P STYLE="text-align: justify; margin: 0 0 0 24pt; text-indent: -24pt; font-family: Times New Roman, Times, Serif"><B><U></U></B>&nbsp;</P>
<P STYLE="text-align: justify; margin: 0 0 0 48pt; text-indent: -24pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 12pt"><B>a)&nbsp;&nbsp;&nbsp;&nbsp;<U>330,000,000 (threehundredandthirtymillion) shares having a total nominal value of TRY 330,000,000 (threehundredandthirtymillion
Turkish Lira) and corresponding to 15% (fifteen percent) of the issued share capital of the Company, which are currently owned
by Turkcell Holding A.&#350;., are Group (A) shares.</U></B></FONT></P>
<P STYLE="text-align: justify; margin: 0 0 0 48pt; text-indent: -24pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 12pt"><B>&nbsp;</B></FONT></P>

<P STYLE="text-align: justify; margin: 0 0 0 48pt; text-indent: -24pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 12pt"><B>b)&nbsp;&nbsp;&nbsp;&nbsp;<U>The remaining 1,870,000,000 (onebillionandeighthundredseventymillion)
shares having a total nominal value of TRY 1,870,000,000 (onebillionandeighthundredseventymillion Turkish Lira) corresponding
to 85% (eighty-five percent) of the issued share capital of the Company are Group (B) shares.</U></B></FONT></P>

<P STYLE="text-align: justify; margin-left: 24pt; text-indent: -24pt"><B>7.2. &nbsp;&nbsp;<U>Privileges to be granted to Share Groups:</U></B></P>

<P STYLE="text-align: justify"><B><U>Without prejudice to Article 7.3.(b) of the Articles of Association, Group A Shares will have the privileges set out
below effective and exercisable only upon the conditions under Article 7.3(a) of Articles of Association having been fulfilled.</U></B></P>

<P STYLE="text-align: justify; margin-left: 48pt; text-indent: -24pt"><B><I><U>a.</U> &nbsp;&nbsp;&nbsp;&nbsp;<U>Nomination Privilege
for the Election of the Board of Directors Members</U></I></B></P>

<P STYLE="text-align: justify; margin-left: 72pt; text-indent: -24pt"><B><U>(i)</U>&nbsp;&nbsp;&nbsp;&nbsp;<U>4 (four) members
of Board of Directors (excluding independent board members) shall be appointed by the General Assembly among the candidates nominated
by the Group A Shareholder.</U></B></P>

<P STYLE="text-align: justify; margin-left: 72pt; text-indent: -24pt"><B><U>(ii)</U>&nbsp;&nbsp;&nbsp;<U>The Chairman of the Board of Directors
shall be elected among the members of the Board of Directors elected through the exercise of the privileges granted to Group A
Shares.</U></B></P>

<P STYLE="text-align: justify; margin-left: 72pt; text-indent: -24pt"><B><U>(iii)</U> &nbsp;&nbsp;<U>In the event that the entire
Group A Shares cease to be held by a single shareholder, this nomination privilege shall automatically cease to be effective,
in respect of the entire Group A shares.<FONT STYLE="font-size: 12pt">&nbsp;</FONT></U></B></P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="text-align: justify; margin-left: 48pt; text-indent: -24pt"><B><U>b.
                                         </U>&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Voting Privilege</U></I></B></P>

<P STYLE="text-align: justify; margin-left: 72pt; text-indent: -24pt"><B><U>(i)</U>&nbsp;&nbsp;&nbsp; <U>In (1) the appointment
of 5 (five) members of the Board of Directors, four of which will be members nominated in accordance with Section 7.2.a(i) above,
(and other than the independent board members), and (2) election of the Chairman of the Presiding Committee of the General Assembly,
each Group A Share shall have voting privileges granted as to give 6 (six) voting rights to each Group A Share, only in relation
to these subject matters, in the voting to be made in the General Assembly of Shareholders.</U></B></P>

<P STYLE="margin-left: 72pt; text-align: justify; text-indent: -24pt"><B><U>(ii)</U>&nbsp;&nbsp; <U>In the event that the entire
Group A shares cease to be held by a single shareholder, this voting privilege shall automatically cease to be effective, in respect
of the entire Group A shares.</U></B></P>

<P STYLE="text-align: justify"><B>7.3.&nbsp; <U>Conditions of the Privileges</U></B></P>

<P STYLE="margin-left: 24pt; text-align: justify; text-indent: -24pt"><B>a.&nbsp;&nbsp;&nbsp;&nbsp; <U>The Privileges set out in Article 7.2 shall become valid and effective for Group A Shares only upon the fulfilment
of the two conditions below together:</U></B></P>

<P STYLE="margin-left: 72pt; text-align: justify; text-indent: -24pt"><B>(i)&nbsp;&nbsp;&nbsp; <U>a merger between TVF Bilgi Teknolojileri &#304;leti&#351;im Hizmetleri Yat&#305;r&#305;m Sanayi ve Ticaret A.&#350;.
and Turkcell Holding A.&#350;. being completed and registered before Istanbul Trade Registry, and</U></B></P>

<P STYLE="margin-left: 72pt; text-align: justify; text-indent: -24pt"><B>(ii)&nbsp;&nbsp; <U>The Combination of Group B shares and the entire Group A shares in the Company corresponding to at least 25% of the
Company&rsquo;s entire issued share capital being recorded in TVF Bilgi Teknolojileri &#304;leti&#351;im Hizmetleri Yat&#305;r&#305;m
Sanayi ve Ticaret A.&#350;.&rsquo;s account and TVF Bilgi Teknolojileri &#304;leti&#351;im Hizmetleri Yat&#305;r&#305;m Sanayi
ve Ticaret A.&#350;. becoming the legal owner of these shares.</U></B></P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="margin-left: 48pt; text-align: justify; text-indent: -24pt"><B>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                                         <U>At any time after the privileges granted to Group (A) shares become valid and effective
                                         in accordance with the provisions of Article 7.3(a); in the event that the entire Group
                                         A Shares cease to be held by a single shareholder all privileges granted under this Articles
                                         of Association to the Group A Shares shall automatically terminate. In this circumstance,
                                         all Group A shares shall automatically be converted into Group B shares with no privileges
                                         without any need for any further decision by the Board of Directors or the General Assembly
                                         of the Company, and no shares or shareholders will have any privileges in any means.</U></B></P>

<P STYLE="margin-left: 48pt; text-align: justify"><B><U>In the event that the entire Group A Shares cease to be held by a single shareholder, nomination and appointment of all
members of Board of Directors, election of the Chairman of the Presiding Committee of the General Assembly, election of the Chairman
of Board of Directors and appointments of Board of Directors&rsquo; members pursuant to Article 363 of Turkish Commercial Code
as per Article 9, shall be performed without any nomination or voting privileges, in accordance with the provisions of Turkish
Commercial Code and the capital markets legislation.</U></B></P>

<P STYLE="margin-left: 48pt; text-align: justify"><B><U>In addition, without prejudice to disclosure requirements applicable under the capital markets legislation, the holder
of Group A Shares is obliged to notify the Company if any Group A share is transferred to a third party.</U></B></P>

<P STYLE="text-align: justify"><B>7.4. &nbsp;&nbsp;<U>Miscellaneous</U></B></P>

<P STYLE="margin-left: 24pt; text-align: justify; text-indent: -24pt"><B>- &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>So long as the privileges
are in effect and not terminated in accordance with this Article 7; in the event of a capital increase in the Company, shares
issued as a result of the exercise by the owner of the Group A Shares of its pre-emption right shall principally be issued as
and shall constitute Group A Shares with the privileges stipulated in this Article 7 of this Articles of Association, provided
that (i) where owner of Group A shares exercises its pre-emption right in the capital increase, the ratio of Group A shares in
the total number of shares issued in the capital of the Company to be reached after the completion of the capital increase shall
in no event be more than the ratio prior to the capital increase; and (ii) the total number of Group A Shares shall in no circumstance
exceed 15% (fifteen percent) of the total number of shares issued in the capital of the Company.</U></B></P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="text-align: justify; margin-left: 24pt"><B><U>If the total
                                         Group A shares upon the completion of such a capital increase, exceeds 15% (fifteen percent)
                                         of the total issued share capital of the Company, the part of the new shares issued in
                                         such capital increase, exceeding 15% (fifteen percent) of the Company&rsquo;s issued
                                         share capital shall be deemed to have been issued as Group B Shares and shall not be
                                         granted any privileges.</U></B></P>

<P STYLE="text-align: justify; margin-left: 24pt; text-indent: -24pt"><B>-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>Shares representing the issued share
capital are monitored under dematerialization principles. The Company is obliged to, and shall, take all actions required under
the capital markets legislation and requirements of the Central Registration Agency in order to effect changes to the group and
type of the shares in accordance with the provisions of this Articles of Association, including without limitation the creation
and termination of the Group A shares and the privileges attached to Group A shares and the changing of ISIN codes for these purposes.</U></B></P>

<P STYLE="text-align: justify; margin-left: 24pt; text-indent: -24pt"><B>- &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>The total number of members of the
Board of Directors appointed by the exercise of the voting privilege and nomination privilege of the Group A shares shall in no
event exceed 5 (five).</U></B></P>

<P><B>7.5.&nbsp; <U>Transfer of Shares</U></B></P>

<P STYLE="text-align: justify"><B><U>Transfer of shares is subject to the provisions of Turkish Commercial Code, Capital Markets Law and Regulation on Authorisations
in the Electronic Communication Sector, Concession Agreement with regard to Granting License of Establishing and Operating GSM
Pan Europe Mobile Telephone System, Concession Agreement on Establishing Operating and Providing IMT-2000/UMTS Infrastructures
and Services and Annex of Authorisation Certificate for Limited Usage Rights with regard to IMT Services - Rights and Obligations
with regard to Establishing, Operating and Providing IMT Infrastructures and Services.</U></B></P>

<P STYLE="text-align: justify"><B><U>The Company shall comply with the restrictions of share transfers stipulated under the Regulation on Authorisations in
the Electronic Communication Sector, Concession Agreement with regard to Granting License of Establishing and Operating GSM Pan
Europe Mobile Telephone System, Concession Agreement of the Establishing Operating and Providing IMT-2000/UMTS Infrastructure
and Services, and Annex of Authorisation Certificate for Limited Usage Rights with regard to IMT Services - Rights and Obligations
with regard to Establishing, Operating and Providing IMT Infrastructures and Services, that the Company is subject to, and/or
Turkish Commercial Code, Capital Markets Law and other legislation applicable to the Company. Article 137/3 of Capital Markets
Law is reserved.</U></B></P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 8 &ndash; CAPITAL INCREASE AND SHARE
CERTIFICATES</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board of Directors of the Company is authorised
to increase the issued share capital by issuing new shares up to the authorised share capital, to resolve to restrict the pre-emption
rights of the shareholders and to take resolutions regarding the issuance of premium shares whenever it is deemed necessary, in
compliance with the Capital Market Law.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During capital increases shares remaining pursuant
to the exercise of pre-emptive rights and in the event pre-emptive rights are restricted, all of the newly issued shares shall
be offered to the public at their market value but not less than their nominal value.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">New shares may not be issued until all the
issued shares are fully sold and paid. The issued share capital has to be indicated on all documents bearing the trade name of
the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board of the Directors of the Company may
issue share certificates in different denominations representing more than one share in compliance with the relevant regulations
of the Capital Market Board.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>



</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 8 &ndash; CAPITAL INCREASE AND SHARE
CERTIFICATES</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0"><B>This Article is removed from the Text.</B></P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 9 - BOARD OF DIRECTORS </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is managed and represented by the
Board. The Board is fully authorised to carry out the affairs of the Company and management of Company assets and the activities
relating to the Company purpose and subject matter other than those that have to be solely carried out by the General Assembly.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board is comprised of 7 (seven) members
elected by the General Assembly.</P>



</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 9 - BOARD OF DIRECTORS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is <B><U>managed and represented
and bound before third persons by the</U></B> Board of Directors. <B><U>The Board of Directors is authorised to carry out the affairs</U></B>
of the Company and for the management of Company assets and any and all <B><U>activities relating to the Company&rsquo;s scope
of business, other than those falling within the authority of the General Assembly.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Subject to the following paragraph, the
Board of Directors shall comprise 9 (nine) members to be appointed by the General Assembly.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The number and qualifications of the
independent members to serve on the Board of Directors shall be determined according to the Corporate Governance Principles of
the Capital Markets Board and the Nomination Committee Operations Principles to be adopted by the Board of Directors in accordance
therewith. </U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0"><B><U>In the event that a membership of Board of Directors
becomes vacant for any reason or an independent member of Board of Directors ceases to be independent, appointment may be made
in accordance with Article 363 and other provisions of Turkish Commercial Code and the capital markets legislation, and the so
appointed board member shall be submitted to the approval of shareholders in the following General Assembly meeting. So long as
the privileges envisaged as per Article 7 of this Articles of Association are in effect, in the event that any Board of Directors
membership elected through the exercise of the privileges granted to Group A Shares becomes vacant, the appointment by the Board
of Directors to be made for this vacancy pursuant to Article 363 of Turkish Commercial Code shall be made from amongst the candidates
proposed by all of the members of Board of Directors which are elected by the general assembly through the exercise of privileges
of the Group A Shares and continue holding their posts unanimously, or if unanimous decision may not be provided, proposed by the
majority of the said Board of Directors members.</U></B></P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 10 &ndash; DUTY PERIOD </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The members of the Board of Directors may be
elected for a period of maximum three years.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The members of the Board of Directors whose
duty period ends may be re-elected. If one of the memberships is left during the duty period, new members may be elected to replace
these in accordance with the related provisions of the Turkish Commercial Code and Article 11 of this Article Of Association.</P>



</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 10 &ndash; TERM OF OFFICE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Term of office </U></B>of members of
the Board of Directors is maximum <B><U>3 (</U></B>three<B><U>)</U>&nbsp;<U>years.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>A member</U></B> of the Board of Directors
whose term <B><U>of office</U></B> expires may be re-<B><U>elected.</U></B></P>


</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 11 &ndash; MEETINGS OF THE BOARD
OF DIRECTORS </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>1) Meetings of the Board of Directors:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board of Directors shall meet whenever
necessitated by the affairs of the Company. Meetings of the Board of Directors shall be held at the headquarters of the Company
or at any place agreed upon.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>2) Meeting and Decision Making Quorum:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Quorum for Board meetings shall consist of
a minimum 5 directors. Ordinary actions of the Board shall be taken by affirmative votes of 4 of the directors upon the presence
of 5 directors and affirmative votes of 5 directors upon the presence of more than 5 directors.</P>



</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 11 &ndash; MEETINGS OF THE BOARD
OF DIRECTORS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>1) Meetings of the Board of Directors:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board of Directors meeting convenes whenever
necessitated by the business and affairs of the Company. Meetings of the Board of Directors shall be held at the headquarters of
the Company or at any place to be designated by the Chairman of Board of Directors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Members eligible to attend the Board
meetings may also attend such meetings by electronic means as per Article 1527 of Turkish Commercial Code. Pursuant to the Communiqu&eacute;
on Electronic Meetings Held in Commercial Companies Other Than General Assembly Meetings of Joint Stock Companies, the Company
may either set up the Electronic Meeting System, which enables right holders to attend and vote in such meetings, or purchase related
services from the providers of systems that are specifically created for such purposes. In such meetings to be held, it shall be
ensured that right holders enjoy their rights specified under the relevant legislation, within the framework of the relevant Communiqu&eacute;,
either over the system established according to this provision of the Articles of Association or the system where the supporting
services are provided.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>2) Meeting and Decision Quorum:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Without prejudice to the provisions of
the capital markets legislation, the Board of Directors convenes with the presence of minimum 5 (five) members constituting the
majority of full number of its members and resolves by the affirmative votes of at least 5 (five) members present in the meeting.</U></B></P>



</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 12 &ndash; BINDING AND REPRESENTATION
OF THE COMPANY </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All documents, bonds, powers of attorney, written
undertakings, contracts, offers, demands, acceptances, announcements and all other documents related with the Company, will be
valid and binding the Company, if signed by person or persons so authorized by the Board of Directors on condition that they sign
under the Company name, in circumstances registered and published as allowing such signature. The Board of Directors will determine
the conditions on which the person(s) authorized to bind the company will sign.</P>



</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 12 &ndash; REPRESENTATION AND BINDING
OF THE COMPANY</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The authority to represent and bind the
Company is vested with the Board of Directors. The Board of Directors may delegate this authority, wholly or partially, to one
or more of its members, employees of the Company or third parties, in accordance with Articles 370 and 371 of TCC. </U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>So long as the privileges are in effect
and not terminated in accordance with Article 7 of this Articles of Association; unlimited authority to represent and bind the
Company regulated under Article 370 of TCC shall be exercised by two Board of Directors members provided that at least one of them
is from the members elected through the exercise of the privileges granted to Group A Shares. In the event that the entire Group
A Shares cease to be held by a single shareholder, this authorisation shall automatically cease to be effective and the unlimited
authority to represent and bind the Company shall be exercisable in accordance with Article 370(1) of TCC.</U></B></P>


</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 13 &ndash; SHARING DUTIES AND ASSIGNING
DIRECTORS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board of Directors may assign all of its
authorities related to management and representation or the parts pertaining to the execution phase of the company business or
the parts it finds necessary to delegate members of the Board of Directors or to General Directors or Directors or other officers
for whom it is not necessary to have a share and the Board of Directors may give them authority to sign. Minimum one member of
the Board of Directors shall have the authority to represent the Company even if the authority to manage and represent the Company
is left to the General Directors or Directors or other officers who do not hold any shares in the Company. The Board of Management
may give Third Persons special authority to represent and bind the Company. The duty period of other officers who have the authority
to put the signatures of the General Directors and Directors is not limited with the election periods of the Board of Directors
members. The provisions of 11-2 article of these Articles of Association are preserved.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board of Directors shall always be free
to cancel such delegated authority of such members and directors.</P>



</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 13 &ndash; DELEGATION OF AUTHORITIES</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board of Directors <B><U>is authorised,
in whole or in part, to delegate the management powers to one or more Board of Directors members or third person or persons pursuant
to an Internal Directive prepared by itself in accordance with Article 367 of Turkish Commercial Code, except for the duties and
authorities which are defined under Article 375 of Turkish Commercial Code and which cannot be delegated. </U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The General Manager is the head of execution
in the Company. He performs his duties in such capacity in accordance with the instructions determined by the General Assembly
or the Board of Directors in the internal directive or otherwise, and within the authority granted and the scope determined by
the Board of Directors or General Assembly. He reports to the Board of Directors in respect of his actions. The Chairman of the
Board of Directors cannot be the General Manager.</U></B></P>



</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 14 - AUDITORS AND THEIR DUTIES</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The General Assembly shall elect 2 auditors
from among either the shareholders or third parties.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The auditors shall be elected for a period
of maximum three years. The auditors may be re-elected.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The auditors are responsible for fulfilling
the tasks stated in Articles 353 to 357 of the Turkish Commercial Code.</P>



</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 14 - AUDITORS AND THEIR DUTIES</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>This article is removed from the text.</B></P>


</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 15 &ndash; DIRECTORS AND AUDITORS
FEE </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The General Assembly determines the fee to
be paid to the members of the Board of Management and to the Auditors.</P>



</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 15 &ndash;<U>FINANCIAL RIGHTS OF
THE MEMBERS OF THE</U> BOARD OF DIRECTORS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The attendance fee and<B><U>/or</U></B> remuneration
of the members of the Board of Directors shall be decided upon by the General Assembly p<B><U>ursuant to the relevant provisions
of Turkish Commercial Code and the capital markets legislation</U></B>.</P>


</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 16 &ndash; INDEPENDENT AUDITOR </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition to the auditors, the Board of Directors
shall elect one of the international auditing firms incorporated in Turkey and acceptable to the Capital Markets Board as an Independent
Auditor for the yearly auditing of the Company&rsquo;s commercial book and records. The provisions of Capital Markets Board regarding
the approval of independent auditor and principals of independent auditing shall be applied.</P>



</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 16 &ndash; INDEPENDENT <U>AUDIT</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B><U>Relevant provisions of Turkish Commercial Code and the capital
markets legislation shall be applicable with regard to the independent auditing of the Company.</U></B></P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 17 &ndash; GENERAL ASSEMBLY</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The below issues shall be applied for the General
Assembly:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. Convening: The meeting of the General Assembly
shall convene either for ordinary or extraordinary meetings. The convening for the meetings shall be made in accordance with the
provisions of the Turkish Commercial Code and Capital Market Law. The General Assembly may convene without invitation in accordance
with Article 370 of the Turkish Commercial Code.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2. Date: Ordinary meetings of General Assembly
shall convene once a year and within the three months following the end of Company&rsquo;s fiscal year, the Extraordinary meetings
of the General Assembly shall convene whenever necessitated by the affairs of the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. Voting Rights and Appointing Proxy: In Ordinary
or Extraordinary meetings of the General Assembly, shareholders or their proxies shall have one vote per share. In General Assembly
meetings, shareholders may have themselves represented through a proxy who may be a shareholder or a non-shareholder. Proxies who
are also shareholders of the Company are authorised to vote both for themselves and on behalf of the shareholders being represented
by such proxies.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Regulations of the Capital Market Board relating
to proxy votes on behalf of the shareholders shall apply.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">4. Voting Method: Votes are cast in General
Assembly meetings by the raising of hands. However, votes shall be cast by secret ballot upon the request of the shareholders representing
one tenth of the shares represented in a meeting. The related provisions of the Capital Market Board shall apply.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">5. Presidency of the General Assembly: President
of the General Assembly meetings shall be the chairman of the Board of Directors, in his absence, the deputy chairman or in the
absence of both, one of the members of the Board of Directors. The secretary of the General Assembly may be elected from among
the shareholders or non-shareholders.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 17 &ndash; GENERAL ASSEMBLY</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The <B><U>following provisions</U></B> shall
be applicable to the General Assembly meetings:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1. <B><U>Convention of the General Assembly:</U></B>
The General Assembly shall be convened either ordinarily <B><U>or </U></B>extraordinarily in accordance with the relevant provisions
of Turkish Commercial Code and Capital Markets Law. <B><U>In these meetings the agenda items, prepared by the Board of Directors,
shall be discussed and resolved as per</U></B> the relevant provisions of Turkish Commercial <B><U>Code and the Articles of Association.
The extraordinary meetings of the General Assembly shall convene and resolve as deemed necessary for the Company&rsquo;s business.
Rights of the shareholders under </U></B>Turkish Commercial <B><U>Code in respect of convening and adding an item in the agenda
of the General Assembly meetings are reserved. </U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The General Assembly meeting procedures
are regulated under the Internal General Assembly Directive. General Assembly meetings shall be conducted in accordance with Turkish
Commercial Code, the capital markets legislation and the Internal General Assembly Directive.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>2. Attending the General Assembly Meeting
by Electronic Means: Right holders, who have a right to attend the general assembly meetings of the Company, can attend such meetings
by electronic means pursuant to Article 1527 of Turkish Commercial Code. Pursuant to the Regulation on General Assembly Meetings
of Joint Stock Companies by Electronic Means, the Company shall procure that the right holders may attend, deliver opinions, make
proposals, and vote by electronic means, either setting up the electronic general assembly system, or purchase related services
from the providers of systems that are specifically created for such purposes. In all meetings to be held, pursuant to this provision
of the Articles of Association, right holders and their representatives shall be procured to enjoy their rights as stipulated under
the aforementioned regulation.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">6. Meetings and Decision Making Quorum: At
meetings of the General Assembly, the items specified in Article 369 of the Turkish Commercial Code shall be discussed and resolved.
Save as higher quorums are provided for in the Turkish Commercial Code, meeting quorum at the General Assembly requires the presence
of at least 51% of shareholders represented by themselves or proxies and save as higher quorums are provided for in the Turkish
Commercial Code decision making quorum requires the majority of the affirmative of shareholders present at the meeting.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">However, the decisions regarding the amendments
to the Articles of Association of the Company excluding the increase in the ceiling of the authorized share capital requires the
presence of shareholders holding the 2/3 of the share capital and affirmative votes of 2/3 of the shareholders represented in the
meeting.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">7. Place of Meeting: General Assembly meetings
shall convene at the Company&rsquo;s headquarters or upon the decision Board of Directors at another suitable place of the city
where the headquarters of the Company is located.</P>



</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3. <U>Date of Meeting</U>: Ordinary General
Assembly <B><U>meetings shall convene once</U></B> a year and within three months <B><U>following the end of Company&rsquo;s </U></B>fiscal
<B><U>year; Extraordinary General Assembly meetings shall convene whenever necessitated by the Company. </U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">4. <B><U>Voting Rights and</U></B> Appointment
<B><U>of Proxy: Right holders or their representatives attending the General Assembly meeting shall enjoy their voting rights pro
rata to the sum of their nominal shares. Each share accords the relevant shareholder </U></B>one <B><U>voting right, save for the
voting privileges granted in accordance with the Articles of Association. </U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In General Assembly meetings, <B><U>shareholders
</U></B>may have themselves represented <B><U>through a proxy</U></B> who may be <B><U>a shareholder</U></B> or a non-shareholder.
<B><U>Proxies who are also shareholders</U></B> of the Company are authorised <B><U>to vote both</U></B> for themselves <B><U>and
the shareholders being represented by</U></B> such proxies.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Regulations of the </U></B>Capital Markets
<B><U>Board relating to voting by proxy shall apply. </U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>5. Voting Method: Save for the provisions
regarding general assembly meetings to be carried out within the Electronic General Assembly system pursuant to Turkish Commercial
Code Article 1527, votes are cast</U></B> in General Assembly meetings <B><U>by open ballot through raising of hands. </U></B>However,
<B><U>votes shall be cast by</U></B> secret <B><U>ballot</U></B> upon the request of the shareholders representing one tenth of
the shares <B><U>represented in person or by proxy in a meeting. The related provisions of the capital markets legislation shall
apply.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">6. Presiding Committee of the General <B><U>Assembly</U></B>:
<B><U>Subject to Article 7 of the Articles of Association, Chairman and members of the Presiding Committee of the General Assembly
meetings shall be elected by the General Assembly, from among the present shareholders or non-shareholders.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>7. Meeting and </U></B>Decision Quorum<B><U>:
Save as higher quorums are provided for in the applicable legislation, meeting quorum at the General Assembly requires the presence
of shareholders representing at least 51% of the total share capital of the Company, represented by shareholders themselves or
proxy holders, and save as higher quorums are provided for in the applicable legislation, decision quorum requires the affirmative
votes of the majority of the voting rights present in person or by proxy at the meeting, by observing the provisions of Article
7 in relation to voting privilege. </U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>In the event that the above quorums are
not met or preserved at the first meeting, the General Assembly quorums shall be subject to provisions of Turkish Commercial Code
and capital markets legislation for the second meeting.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>As an exception to the above-mentioned
rule, the decisions regarding the amendments to the Articles of Association of the Company excluding the increase in the ceiling
of the registered share capital requires the presence of shares representing 2/3 of the share capital and affirmative votes of
2/3 of the shares represented in the meeting. The amendments to the Articles of Association violating the privileges established
for Group A Shares herein shall not apply without the approval of the Special Assembly of Privileged Shareholders in accordance
with the Article 454 of Turkish Commercial Code.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">8. <U>Place of Meeting:</U> General <B><U>Assembly
meetings shall convene </U></B>at the Company&rsquo;s headquarters or upon the decision of the <B><U>Board of</U></B> Directors
<B><U>at another suitable place of the city</U></B> where the headquarters of the Company is located.</P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 18 &ndash; PRESENCE OF A COMMISSIONER
AT THE MEETINGS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The presence of T.R. Ministry of Industry and
Commerce Commissioner is necessary at both ordinary and extraordinary General Assembly meetings. The commissioner has to sign the
meeting reports. General Assembly meeting decisions taken in the absence of the commissioner and reports which do not bear the
commissioner&rsquo;s signature shall not be valid.</P>



</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 18 &ndash; PRESENCE OF A MINISTRY
REPRESENTATIVE AT THE MEETINGS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>This article is removed from the text.</B></P>


</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 19 - ANNOUNCEMENTS AND ANNUAL REPORTS
OF THE COMPANY </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Announcements concerning the Company shall
be made in the newspaper published at the city where the Headquarters of the Company are located at least 15 days in advance provided
that the provisions of Article 37/4 of the Turkish Commercial Code are reserved. If there is no newspaper published at the place
where the Headquarters are located, then the announcement shall be made in the newspaper published at the closest place to the
Headquarters.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">However, announcements regarding the invitation
of the General Assembly, in accordance with Article 368 of the Turkish Commercial Code, excluding the dates of announcement and
invitation shall be made two weeks in advance and the date of the meeting shall be notified to the shareholders via registered
mail.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Provisions of Articles 397 and 438 of the Turkish
Commercial Code shall be applicable to the announcements regarding the share capital decrease and liquidation of the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any other announcement and information responsibilities
pursuant to the Capital Market legislation and the Turkish Commercial Code are reserved.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial tables and reports and also independent
audit reports required by the Capital Market Board shall be disclosed to the public and delivered to the Capital Market Board in
accordance with the provisions and principles of the Board of Directors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>



</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 19 &ndash; ANNOUNCEMENTS AND ANNUAL
REPORTS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Announcements with regard to the Company <B><U>shall
be made in accordance with the provisions of </U></B>Turkish Commercial Code, <B><U>the capital markets legislation and other relevant
legislation.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The General Assembly meeting announcements
shall be made within the periods specified under the applicable legislation, in accordance with Turkish Commercial Code, the capital
markets legislation and the Capital Markets Board&rsquo;s Corporate Governance Principles. The General Assembly meeting announcements
shall be made at least three weeks before the date of General Assembly meeting, in accordance with the procedures envisaged under
the legislation. </U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Financial tables</U></B> and reports
<B><U>required by the </U></B>capital markets <B><U>legislation</U></B> and independent audit report, shall be <B><U>disclosed</U></B>
to the public <B><U>according to rules</U></B> and <B><U>procedures</U></B> set forth by <B><U>Turkish Commercial Code and the
capital markets legislation.</U></B></P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 21 - DETERMINATION AND ALLOCATION
OF THE PROFIT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If any, the net profit drawn up in the annual
budget after the deduction of all expenses and depreciation sums, reserves and taxes needed to be paid by or charged to the Company,
from the revenues of the Company as determined by the end of the accounting term and after the deduction of the previous years
loss, shall be distributed in accordance with the Capital Market Law and communiqu&eacute;s of the Capital Market Board as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">a) 5% statutory reserve fund shall be set aside
as the first statutory reserve fund.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">b) The first dividend shall be set aside from
the remaining amount in the ratio determined by the Capital Market Board.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">c) Amount of the net profit remaining after
the deduction of the amounts stated in (a) and (b) may be distributed partially or fully as second dividend or set aside as extraordinary
statutory reserve fund as per the General Assembly resolutions. The General Assembly may set aside an amount as profit share for
the members of the Board of Directors, officers, employees and workers and foundations constituted for various purposes and this
kind of real or legal persons.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">d) It may not be resolved that any other reserve
funds be set aside or left for the following year unless reserve funds and first dividend stated in the Articles of Association
for the shareholders are set aside in compliance with the legislation and it may not be resolved that the profit be distributed
to the members of the Board of Directors, officers and employees and foundations constituted for various purposes and this kind
of real or legal persons unless first dividend is distributed.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">e) The dividend can be distributed to all the
shares that exist as of the accounting period, irregardless of their issue or enforcement dates.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Article 466/2(3) of the Turkish Commercial
Code is reserved.</P>



</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 21 &ndash; DETERMINATION AND <U>DISTRIBUTION</U>
OF THE PROFIT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The periodic net profits shown in the
annual budget after the deduction of all expenses and depreciation sums,</U></B> amounts that are required to be set aside and
taxes, which are required to be paid by or charged to the Company, <B><U>from the revenues of the Company</U></B> as determined
by the end of the accounting term and after the deduction of the previous <B><U>years&rsquo; losses shall be set aside as reserves
or distributed in the order and principles as follows:</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>General Statutory Reserve Fund:</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>a) 5% shall be set aside as the statutory
reserve fund until it reaches 20% of the issued share capital.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>First Dividend:</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">b) <B><U>First dividends shall be set aside
from the remaining amount calculated by adding the amount of donation made within a year, if any, over the ratio set by General
Assembly in line with the dividend distribution policy of the Company according to Turkish Commercial Code and the capital markets
legislation.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">c) <B><U>After the above amounts are set aside,
the General Assembly may distribute dividends to the Board of Directors members, employees of the Company, foundations and real
and legal persons other than the shareholders.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Second Dividend:</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>d) The General Assembly is entitled to
distribute as second dividends, wholly or partially, the remainder amounts after the deduction of the amounts stated in (a), (b)
and (c) or to set aside this amount as a discretionary reserve fund according to Article 521 of Turkish Commercial Code.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>e) 10% of the amount found after deducting
5% dividend from the amount to be distributed to shareholders and other persons who participate in the profit, shall be added to
general statutory reserve fund according to 2nd paragraph of Article 519 of Turkish Commercial Code.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Unless statutory legal reserves and dividend
portion which is determined to be distributed to the shareholders by the Articles of Association or dividend distribution policy
of the company are set aside, it may not be decided to set aside any other reserves, to carry profits to the next year, to distribute
dividend to the members of the Board of Directors, employees of the Company, foundations and real or legal persons other than the
shareholders; and any dividend may not be distributed to these persons unless the dividends determined to be distributed to the
shareholders are paid in cash.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Dividends shall be distributed equally
to all current shares as of the date of distribution regardless of the dates of their issuance or acquisition. </U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The procedures and dates of dividend
distribution shall be decided by the General Assembly upon the Board of Directors&rsquo; proposal.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Resolution of General Assembly regarding
distribution of dividend which was taken pursuant to this Article of Association may not be revoked.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The Company is entitled to distribute
advance dividend in cash over the profit set out in the interim financial statements of the Company, in accordance with the conditions
established by the capital markets legislation and other related legislation. In accordance with the relevant legislation, upon
authorization of the board of directors by a general assembly decision, the Board of Directors may decide to or not to distribute
advance dividend, and on the amount and timing of the advance dividend distribution.</U></B></P>



</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 22 &ndash; RESERVE FUNDS</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">Articles 466 and 567 of the Turkish Commercial
Code shall be applied with regard to the reserve funds set aside by the Company.</P>



</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>ARTICLE 22 &ndash; RESERVE FUNDS</U></B></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">Reserve funds to be set aside by the Company
<B><U>shall be determined in accordance with the relevant provisions of Turkish Commercial Code and the capital markets legislation.
Article 21 of the Articles of Association is reserved.</U></B></P>



</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 25 - BONDS AND OTHER SECURITIES
</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company may issue bonds and any other debt
securities bearing the features of capital market securities which the Board of Directors may be authorized to issue, in order
to sell them to individuals or legal entities, in Turkey or abroad in accordance with the Turkish Commercial Code, the Capital
Market Law and any other related legislation via resolutions of Board of Directors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company may also issue convertible bonds
as per resolutions of Board of Directors in compliance with the regulations of the Capital Market Board.</P>



</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ARTICLE 25 - BONDS AND OTHER SECURITIES
</B></P>

<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is entitled to issue bonds
<B><U>and other capital markets instruments in accordance with the provisions of</U></B> Turkish Commercial Code and the capital
markets legislation.</P>


</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>ARTICLE 26 - COMPLIANCE WITH CORPORATE
GOVERNANCE PRINCIPLES</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Compliance with the Capital Markets Board&rsquo;s
mandatory Corporate Governance Principles shall be ensured. Transactions and Board of Directors&rsquo; resolution taken in violation
of the mandatory Corporate Governance Principles shall be deemed to be in violation of this Articles of Association. </U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>With regard to the transactions deemed
as material within the context of implementation of Corporate Governance Principles, and related party transactions of the Company
as well as for the transactions with respect to giving security interest, pledge and mortgage in favour of third parties, corporate
governance regulations of Capital Markets Board shall be complied with.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The Board of Directors of the Company
shall establish Audit Committee, Early Risk Detection Committee, Corporate Governance Committee, Nomination Committee, Renumeration
Committee and any other committee which may be required under the capital markets legislation from time to time without combining
any of aforementioned committees or assigning the duties of any committee to another. The Board of Directors shall adopt different
charters concerning the rules of procedures of each committee which shall be approved with the unanimity of the votes of the Board
of Directors to be effective. Adopted charters and any amendment on the same shall be publicly disclosed.</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>



</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>



<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="3" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center; width: 50%"></TD>
    <TD STYLE="text-align: center; width: 50%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>The number and qualifications of
independent board members who will be appointed to the Board of Directors shall be determined in accordance with the Corporate
Governance Principles of the Capital Markets Board. The list of independent board members to be nominated for the election shall
be prepared by the Board of Directors exclusively from amongst the candidates affirmatively assessed in the Nomination Committee
report to have met the independence criteria and be submitted to the to approval of the Capital Markets Board.</U></B></P>



</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B></B></P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 23 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>



















</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>SIGNATURES</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-indent: 0.5in">Pursuant to the requirements of the
Securities Exchange Act of 1934, Turkcell Iletisim Hizmetleri A.S. has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 12pt"><FONT STYLE="font-size: 11pt"><B>TURKCELL ILETISIM HIZMETLERI A.S.</B> <BR>
<BR></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">Date:&nbsp; August 31, 2020</FONT></TD>
    <TD STYLE="width: 4%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="width: 45%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt; font-variant: small-caps">&nbsp;<U>/s/</U></FONT><U> <FONT STYLE="font-size: 11pt">Helin Sinem Celikbilek</FONT></U></TD>
    <TD STYLE="width: 1%; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="3">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Name:&nbsp;&nbsp;Helin Sinem Celikbilek</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Title:&nbsp;&nbsp;&nbsp;&nbsp;Investor Relations Manager</P></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif; padding-bottom: 12pt"><FONT STYLE="font-size: 11pt"><B>TURKCELL ILETISIM HIZMETLERI A.S.</B> <BR>
<BR></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">Date:&nbsp;&nbsp;August 31, 2020</FONT></TD>
    <TD STYLE="width: 3%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="width: 46%; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt; font-variant: small-caps">&nbsp;</FONT><FONT STYLE="font-size: 11pt"><U>/s/</U></FONT><U> Osman Y&#305;lmaz</U></TD>
    <TD STYLE="width: 1%; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt">Name:&nbsp; Osman Y&#305;lmaz &nbsp;<BR>
Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 12pt">&nbsp;</P>



<P STYLE="margin: 0"></P>

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