<SEC-DOCUMENT>0000947871-23-000315.txt : 20230313
<SEC-HEADER>0000947871-23-000315.hdr.sgml : 20230313
<ACCEPTANCE-DATETIME>20230313163028
ACCESSION NUMBER:		0000947871-23-000315
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20230309
FILED AS OF DATE:		20230313
DATE AS OF CHANGE:		20230313

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:		23727720

	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>ss1851893_6k.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 14.1pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt"><P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">UNITED STATES SECURITIES AND EXCHANGE COMMISSION</P>

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

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

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

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

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

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Report on Form 6-K dated March 9, 2023</P>

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

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<P STYLE="font: bold 13.5pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center">TURKCELL ILETISIM HIZMETLERI A.S.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">(Translation of registrant&#8217;s
name in English)</FONT></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)</P>

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

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<P STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin: 12pt 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-size: 10pt">&#9746;</FONT><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form
40-F </FONT>&#9744;</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-size: 10pt">&#9744;</FONT><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;</FONT><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">&#9746;</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 &#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;</FONT><FONT STYLE="font-size: 10pt">&#9746;</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-size: 10pt">&#9744;</FONT><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;</FONT><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font-size: 10pt">&#9746;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">If &#8220;Yes&#8221; 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">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Enclosure: A press release dated March 9, 2023 announcing Turkcell&#8217;s
Fourth Quarter 2022 results and Q4 2022 TFRS Report.</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>


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<P STYLE="font: 48pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-indent: 28.35pt; color: #A6A6A6">Contents</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 83%; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #034EA1"><B>HIGHLIGHTS</B></FONT></TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #7F7F7F">QUARTER HIGHLIGHTS</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: #7F7F7F">5</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #7F7F7F">COMMENTS BY CEO, MURAT ERKAN</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: #7F7F7F">7</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #034EA1"><B>FINANCIAL AND OPERATIONAL REVIEW</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #7F7F7F">FINANCIAL REVIEW OF TURKCELL GROUP</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: #7F7F7F">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #7F7F7F">OPERATIONAL REVIEW OF TURKCELL TURKEY</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: #7F7F7F">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #034EA1"><B>TURKCELL INTERNATIONAL</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #7F7F7F">lifecell</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: #7F7F7F">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #7F7F7F">BeST</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: #7F7F7F">17</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #7F7F7F">Kuzey K&#305;br&#305;s Turkcell</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: #7F7F7F">17</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #034EA1"><B>TECHFIN</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #7F7F7F">Paycell</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: #7F7F7F">18</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #7F7F7F">Financell</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: #7F7F7F">18</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #034EA1"><B>TURKCELL GROUP SUBSCRIBERS</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: #7F7F7F">19</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #034EA1"><B>OVERVIEW OF THE MACROECONOMIC ENVIRONMENT</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: gray">19</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: #034EA1"><B>RECONCILIATION OF NON-GAAP FINANCIAL MEASUREMENTS</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: gray">20</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 3pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 12pt; color: gray"><I>Appendix A &ndash; Tables</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 12pt; color: gray">22</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; color: gray">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 56.7pt; color: gray"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #7F7F7F"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 8pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Please note that all financial
data is consolidated and comprises that of Turkcell Iletisim Hizmetleri A.S. (the &ldquo;Company&rdquo;, or &ldquo;Turkcell&rdquo;) and
its subsidiaries and associates (together referred to as the &ldquo;Group&rdquo;), unless otherwise stated. </FONT></TD></TR></TABLE>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 3pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #7F7F7F"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 8pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">We have four reporting segments:</FONT></TD></TR></TABLE>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 3pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #7F7F7F"><TR STYLE="vertical-align: top">
<TD STYLE="width: 71.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 8pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&quot;Turkcell Turkey&quot;
which comprises our telecom, digital services and digital business services related businesses in Turkey (as used in our previous releases
in periods prior to Q115, this term covered only the mobile businesses). All non-financial data presented in this press release is unconsolidated
and comprises Turkcell Turkey only figures, unless otherwise stated. The terms &quot;we&quot;, &quot;us&quot;, and &quot;our&quot; in
this press release refer only to Turkcell Turkey, except in discussions of financial data, where such terms refer to the Group, and except
where context otherwise requires.</FONT></TD></TR></TABLE>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 89.4pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #7F7F7F"><TR STYLE="vertical-align: top">
<TD STYLE="width: 71.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 8pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&ldquo;Turkcell International&rdquo;
which comprises all of our telecom and digital services related businesses outside of Turkey.</FONT></TD></TR></TABLE>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 89.4pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #7F7F7F"><TR STYLE="vertical-align: top">
<TD STYLE="width: 71.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 8pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&ldquo;Techfin&rdquo; which
comprises all of our financial services businesses. </FONT></TD></TR></TABLE>

<P STYLE="font: 4pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 71.45pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #7F7F7F"><TR STYLE="vertical-align: top">
<TD STYLE="width: 71.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 8pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&ldquo;Other&rdquo; which mainly
comprises our non-group call center and energy businesses, retail channel operations, smart devices management and consumer electronics
sales through digital channels and intersegment eliminations.</FONT></TD></TR></TABLE>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 0pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 8pt; color: #7F7F7F">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #7F7F7F">In this press
release, a year-on-year comparison of our key indicators is provided and figures in parentheses following the operational and financial
results for December 31, 2022 refer to the same item as at December 31, 2021. For further details, please refer to our consolidated financial
statements and notes as at and for December 31, 2022, which can be accessed via our website in the investor relations section (</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: blue"><U>www.turkcell.com.tr</U></FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #7F7F7F">).</FONT></TD></TR></TABLE>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 4pt; color: #7F7F7F"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 8pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Selected financial information
presented in this press release for the fourth quarter and for the full year of 2021 and 2022 is based on Turkish Accounting Standards
(TAS) / Turkish Financial Reporting Standards (TFRS) figures in TRY terms unless otherwise stated.</FONT></TD></TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 4pt; color: #7F7F7F"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol; font-size: 8pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">In the tables used in this press
release totals may not foot due to rounding differences. The same applies to the calculations in the text.</FONT></TD></TR></TABLE>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin-right: 0; margin-bottom: 3pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 4pt; color: #7F7F7F"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 8pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Year-on-year and quarter-on-quarter
percentage comparisons appearing in this press release reflect mathematical calculation.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>




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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt; color: #034EA1"><B>&nbsp;</B></P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

<P STYLE="border-bottom: #034EA1 0.5pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; color: #034EA1"><B>Our
Initial Assessment of the Earthquakes&rsquo; Impact</B></P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">On February 6<SUP>th</SUP>, 2023, two high-magnitude
earthquakes, epicentered in Kahramanmara&#351; yet impacting 11 cities across Southeastern T&uuml;rkiye, have dramatically affected the
lives of 14 million people. As Turkcell, we took immediate action after the quakes as quickly and efficiently as possible to ensure the
safety of our colleagues and to provide communication to our 6.5 million subscribers in the region. On the very first day, almost half
of our 3,300 base stations in the region was out of service mainly due to power outage and destruction. We rapidly deployed more than
1,200 network personnel to the region to make the necessary repairs. We swiftly reactivated 99% of our sites by deploying around 250 mobile
base stations and 1,400 electric generators to compensate for one tower and around 150 base stations that were destroyed. We began to
provide Wi-Fi services via mobile base stations in tent and container areas. While providing free communication packages to subscribers,
healthcare personnel and emergency teams in the region, we have also provided 1-month of free communication to subscribers in the state
of emergency region. Currently, 68% of our exclusive stores in the region are fully operational and all our services continue to run uninterruptedly
through our digital channels and containers we have deployed in the area.</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">We are deeply saddened by the lives lost, which include
21 of our colleagues. We will continue providing aid and support for the families of our colleagues who lost their lives, and for our
citizens affected by the earthquake, as we have done since the first day of the disaster.</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">We have prepared our 2023 guidance<SUP>1</SUP> considering
all of the above developments, and based upon the initial impact assessment of the earthquake on our business. Accordingly, we target
revenue growth of between 55-57%, an EBITDA of around TRY34 billion and an operational capex over sales ratio<SUP>2</SUP> of around 22%.</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">We estimate a negative revenue impact of around TRY1.5
billion. This arises from the steps we have taken to alleviate pressure on our affected subscribers, such as free communication packages,
the cancellation of line opening-closing fees, the suspension fees, and from shrinking customer demand in the longer term triggered by
the earthquakes&rsquo; impact on people&rsquo;s purchasing power. In addition, we expect an impact of around TRY400 million on operational
expenses due to personnel, infrastructure, and network expenses that we have incurred to date, and will continue to incur in the region.
We expect a replacement CAPEX of circa TRY900 million for mobile and fixed network investments, particularly in the regions that have
suffered extensive destruction. These assessments include the effect of the earthquakes based on our initial impact analysis; and all
these estimations are already considered in the 2023 guidance. However, potential measures that may arise subsequent to this announcement
and other developments over time may further affect our guidance. We will continue to provide information as such developments occur over
the coming periods.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F"></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(1) Please note that this section
contains forward-looking statements based on our initial impact assessment of the earthquake. Factors such as changes in the state of
emergency measures and potential aftershocks, as well as the risk factors disclosed in our Annual Report on Form 20-F for 2021 filed with
U.S. Securities and Exchange Commission, could cause actual impacts to differ materially from our expectations.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(1) 2023&nbsp;guidance&nbsp;figures
are based on TFRS, and&nbsp;do&nbsp;not&nbsp;include the effects of a likely adoption of inflationary accounting in accordance with IAS&nbsp;29.&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(2) Excluding license fee</P>

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


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

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<P STYLE="border-bottom: #034EA1 0.5pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #034EA1"><B>NOTICE</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">We are publishing financial statements as of December
31, 2022 prepared in accordance with Turkish Accounting Standards/Turkish Financial Reporting Standards (&ldquo;TAS&rdquo;/&ldquo;TFRS&rdquo;)
only. These standards are issued by the Public Oversight Accounting and Auditing Standards Authority (&ldquo;POA&rdquo;) and are in full
compliance with IAS/IFRS Standards. In an announcement published by the POA on January 20, 2022, it is stated that TAS 29 &ldquo;Financial
Reporting in Hyperinflationary Economies&rdquo; does not apply to TFRS financial statements as of December 31, 2021. Since then and as
of the preparation date of our latest consolidated financial statements, no new statement has been made by the POA about TAS 29 application.
Consequently, no TAS 29 adjustment was made to our consolidated financial statements.</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Financial statements prepared in accordance with
IFRS should apply IAS 29 &ldquo;Financial Reporting in Hyperinflationary Economies&rdquo; as of December 31, 2022. In this context, financial
statements prepared in accordance with IFRS and TFRS would have significant differences and would not be comparable as of December 31,
2022. We intend to publish IFRS financial statements, compliant with IAS 29 to the extent that it remains applicable, with our Annual
Report on Form 20-F that will be filed to the U.S. Securities and Exchange Commission.</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Although we have not prepared a detailed comparison
of differences between IFRS (unadjusted according to IAS 29) and TFRS, we have noted in our past financial statements that the most significant
differences have appeared in the lines Other Operating Income/Expense, Finance Income/Expense, and Investment Activity Income/Expense.
In the past, revenue, net income and EBITDA have generally not differed. While no assurance can be given that this will be the case for
Q4 2022, we are not at present aware of changes that would cause other significant differences, other than those resulting from the application
of IAS 29.</P>

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

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 4pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 4pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<P STYLE="font: 8pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 4pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<P STYLE="font: 8pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 4pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<P STYLE="font: 8pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 4pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<P STYLE="font: 8pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 4pt; text-align: justify; color: #7F7F7F">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #034EA1"><B>FINANCIAL HIGHLIGHTS</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-top: #034EA1 1pt solid; white-space: nowrap; width: 46%; border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="color: #034EA1"><B>TRY million</B></FONT></TD>
    <TD STYLE="border-top: #034EA1 1pt solid; width: 9%; border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: #034EA1"><B>Q421</B></FONT></TD>
    <TD STYLE="border-top: #034EA1 1pt solid; width: 9%; border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: #034EA1"><B>Q422</B></FONT></TD>
    <TD STYLE="border-top: #034EA1 1pt solid; width: 9%; border-right: #0D4BA0 1pt solid; border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: #034EA1"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="border-top: #034EA1 1pt solid; width: 9%; border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: #034EA1"><B>FY21</B></FONT></TD>
    <TD STYLE="border-top: #034EA1 1pt solid; width: 9%; border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: #034EA1"><B>FY22</B></FONT></TD>
    <TD STYLE="border-top: #034EA1 1pt solid; width: 9%; border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: #034EA1"><B><I>y/y%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Revenue</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">10,192</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">16,044</FONT></TD>
    <TD STYLE="border-right: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>57.4%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">35,921</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">53,878</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>50.0%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">EBITDA<SUP>1</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">4,212</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">6,671</FONT></TD>
    <TD STYLE="border-right: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>58.4%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">15,014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">21,994</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>46.5%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;EBITDA Margin (%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">41.3%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">41.6%</FONT></TD>
    <TD STYLE="border-right: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>0.3pp</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">41.8%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">40.8%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(1.0pp)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">EBIT<SUP>2</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2,136</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">4,156</FONT></TD>
    <TD STYLE="border-right: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>94.6%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">7,722</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">12,516</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>62.1%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;EBIT Margin (%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">21.0%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">25.9%</FONT></TD>
    <TD STYLE="border-right: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>4.9pp</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">21.5%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">23.2%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>1.7pp</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Net Income </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1,385</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">5,996</FONT></TD>
    <TD STYLE="border-right: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>333.1%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">5,031</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">11,053</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>119.7%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Net Income Exc. Fixed Asset Revaluation Net Impact<SUP>3</SUP></FONT></TD>
    <TD STYLE="border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">354</FONT></TD>
    <TD STYLE="border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1,903</FONT></TD>
    <TD STYLE="border-right: #0D4BA0 1pt solid; border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>437.4%</I></FONT></TD>
    <TD STYLE="border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">3,509</FONT></TD>
    <TD STYLE="border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">6,445</FONT></TD>
    <TD STYLE="border-bottom: #0D4BA0 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>83.7%</I></FONT></TD></TR>
  </TABLE>


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

<P STYLE="border-bottom: #0D4BA0 0.75pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: #034EA1"><B>FULL
YEAR HIGHLIGHTS</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Solid financial performance:
</FONT></TD></TR></TABLE>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #0D0D0D">Group revenues
up 50.0% supported mainly by accelerated ARPU growth, and strong subscriber net add performance as well as the contribution of the digital
business services and techfin business</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #0D0D0D">EBITDA up 46.5%
leading to an EBITDA margin of 40.8%; EBIT up 62.1% resulting in an EBIT margin of 23.2%</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 24.55pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #0D0D0D">Net income
up 119.7% to TRY11.1 billion including a major one-off (net TRY4.6 billion deferred tax income impact) resulting from fixed asset revaluation;
without the one-off net income rose 83.7% to TRY6.4 billion </FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.65pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Free cash flow<SUP>4</SUP>
generation of TRY1.7 billion; net leverage<SUP>5</SUP> level at 0.9x; net short FX position of US$25 million</FONT></TD></TR></TABLE>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Robust operational momentum
continued:</FONT></TD></TR></TABLE>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Turkcell Turkey subscriber
base up by 2.3 million net additions; 1.9 million mobile postpaid net additions the highest performance since 2009</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">220 thousand fixed subscriber
net additions; 234 thousand fiber net additions, best net add performance ever</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">887 thousand new fiber homepasses</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt; color: #0D0D0D">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #0D0D0D">Mobile ARPU</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt"><SUP>6
</SUP><FONT STYLE="color: #0D0D0D">growth of 40.3%; </FONT>residential fiber ARPU growth of 26.5%</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol; color: #0D0D0D">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">2023 guidance<SUP>7</SUP>;
revenue growth target of between 55-57%, EBITDA target of around TRY34 billion, and operational capex over sales ratio<SUP>8</SUP> target
of around 22%</FONT><FONT STYLE="font-size: 7pt; color: #5F5F5F">&#9; - </FONT></TD></TR></TABLE>

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

<P STYLE="border-bottom: #0D4BA0 0.75pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: #034EA1"><B>FOURTH
QUARTER HIGHLIGHTS</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Strong financial results:</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #0D0D0D">Group revenues
up 57.4% on the back of the strong ARPU performance of Turkcell Turkey and contribution from digital business services and techfin business</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #0D0D0D">EBITDA up 58.4%
leading to an EBITDA margin of 41.6%; EBIT up 94.6% resulting in an EBIT margin of 25.9%</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #0D0D0D">Net income
up 333.1% to TRY6.0 billion (including TRY4.1 billion net impact of tax income resulting from fixed asset revaluation)</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Robust operational performance
maintained:</FONT></TD></TR></TABLE>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Quarterly mobile postpaid subscriber
net additions of 599 thousand; postpaid subscriber share at 68.1% of mobile subscriber base</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Quarterly fixed subscriber
net additions of 69 thousand</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt; color: #0D0D0D">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt; color: #0D0D0D">Year-on-year
mobile ARPU</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt"><SUP>5</SUP> <FONT STYLE="color: #0D0D0D">increased
55.6% mainly driven by price adjustments, upsell to higher tariffs, and higher postpaid share </FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Residential fiber ARPU growth
of 33.3% year-on-year mainly by price adjustments and upsell efforts, as well as increased IPTV penetration</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Average monthly data usage
of 4.5G subscribers at 16.9 GB in Q422; smartphone penetration at 87%</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 42.55pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Digital channels&rsquo; share<SUP>9</SUP>
in sales at 24.9%</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 6.5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(1) EBITDA is a non-GAAP financial
measure. See page 20 for the explanation of how we calculate Adjusted EBITDA and its reconciliation to net income.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(2) EBIT is a non-GAAP financial
measure and is equal to EBITDA minus depreciation and amortization expenses.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(3) Excludes the impact of fixed
assets revaluation. Please refer to table on page 22 for details.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(4) Free cash flow calculation
includes EBITDA and the following items as per Turkish Financial Reporting Standartds (TFRS) cash flow statement; acquisition of property,
plant and equipment, acquisition of intangible assets, change in operating assets/liabilities, payment of lease liabilities and income
tax paid.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(5) Starting from Q421, we have
revised the definition of our net debt calculation to include &quot;financial assets&rdquo; reported under current and non-current assets.
Required reserves&nbsp;held&nbsp;in CBRT&nbsp;balances are&nbsp;also considered in net debt calculation. We believe that these assets
are highly liquid and can be easily converted to cash without significant change in value.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(6) Excluding M2M</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(7) Please note that this section
contains forward-looking statements based on our initial impact assessment of the earthquake. Factors such as changes in the state of
emergency measures and potential aftershocks, as well as the risk factors disclosed in our Annual Report on Form 20-F for 2021 filed with
U.S. Securities and Exchange Commission, could cause actual impacts to differ materially from our expectations.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(7) 2023&nbsp;guidance&nbsp;figures
are based on TFRS, and&nbsp;do&nbsp;not&nbsp;include the effects of a likely adoption of inflationary accounting in accordance with IAS&nbsp;29.&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(8) Excluding license fee</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(9) Share of all sales from
digital channels (including voice, data, services &amp; smart devices) in Turkcell Turkey consumer sales (excluding fixed business) and
equipment related revenues in other segment.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #5F5F5F">For further details, please refer to our
consolidated financial statements and notes as at December 31, 2022 via our website in the investor relations section (</FONT><FONT STYLE="color: #0000FF"><U>www.turkcell.com.tr</U></FONT><FONT STYLE="color: #5F5F5F">).</FONT></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>


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<P STYLE="font: 12pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt; color: #034EA1">&nbsp;</P>

<P STYLE="font: 12pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt; color: #034EA1"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt"><B>&nbsp;</B></P>

<P STYLE="border-bottom: #034EA1 0.5pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #034EA1"><B>COMMENTS BY CEO,
MURAT ERKAN</B></P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><B>The disaster of the century&hellip;</B></P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">Two devastating earthquakes, epicentered
in Kahramanmara&#351;, with magnitudes of 7.7 and 7.6 have marked themselves as the greatest disaster of T&uuml;rkiye&rsquo;s modern history.
The earthquakes that struck T&uuml;rkiye and Syria have claimed thousands of lives and placed our country into deep mourning. We wish
Allah&rsquo;s mercy upon the victims, among whom were 21 of our colleagues. We offer our sincere and heartfelt condolences to those who
lost their families and loved ones. From the first moment of the earthquake, Turkcell made an initial assessment to swiftly take all necessary
actions. On the first day of the earthquake, we lost approximately half of the 3,300 sites in the region. We deployed mobile base stations,
generators and batteries to the region and within four days increased our active site rate to over 90%. We provided free voice, SMS, and
internet packages to close to 6.5 million subscribers in the earthquake region. Additionally, we provided a &ldquo;Kahraman Paketi (Hero
Package)&rdquo; to meet the needs of emergency team and health care professionals. We sustained free Wi-Fi and charging stations in the
region and supported victims with a donation commitment of TRY3.5 billion to the &ldquo;T&uuml;rkiye Tek Y&uuml;rek (T&uuml;rkiye One
Heart)&rdquo; quake relief campaign. Being T&uuml;rkiye&rsquo;s Turkcell, we will remain by our people as always.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">In 2022, as inflationary pressures topped
the agenda, the tightening policies of Central Banks against inflation and concerns over recession were in focus. Energy and commodity
prices rose massively in the wake of the Russia-Ukraine war. As we saw an easing of the pandemic&rsquo;s impact on T&uuml;rkiye, the agenda
turned to deterioration in pricing behaviour and the expectation of high inflation propping up consumer spending. Strong tourism inflows
that returned to pre-pandemic levels supported the current account balance, as well as the telecommunication sector.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><B>Best mobile postpaid subscriber net
addition of the past 13 years</B></P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">In 2022 we outperformed our expectations.
At the start of the year we targeted adding 1 million net subscribers and ended up exceeding 2.3 million net subscriber additions thanks
to our value propositions that meet our customers&rsquo; needs, increased tourism activity and strong demand from the corporate segment.
By keeping our focus of enlarging our mobile postpaid base which provides a higher revenue contribution, we added 1.9 million subscribers,
the record of the past 13 years. Accordingly, the postpaid share in the mobile base increased to 68.1%.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">The mobile churn rate slightly increased
to 2.7%, as we deactivated a higher number of inactive subscribers in the fourth quarter, since T&uuml;rkiye had a greater tourist and
visitor inflow in 2022 compared to the previous year. The Mobile Number Portability (MNP) market, which was rationalized as our sequential
price increases were followed by competitors throughout the year, was triggered by aggressive price offerings in the market during the
last quarter of the year.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">With an awareness of T&uuml;rkiye lagging
behind OECD countries in terms of speed and capacity of fixed broadband services, we continued to invest to our fiber infrastructure to
provide fiber services that our customers demand. In 2022, we reached 887 thousand homes with our end-to-end fiber, and total fiber homepasses
reached 5.4 million. For the year we had a record net fiber add of 234 thousand subscribers. Thanks to the increased penetration of our
complementary, content-rich TV+ service, and our superior customer experience, the fiber churn rate decreased to an all-time low of 1.1%.
Moreover, we sustained our focus on high speed internet packages. On the fiber subscriber acquisition side, 37% of the subscribers preferred
speeds of 100 Mbps and above.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">In line with our inflationary pricing
policy, we have made sequential price adjustments since December 2021, where inflation began to rise. We have emphasized that price adjustments
would be reflected in ARPU growth with a lag, due to the contract-based nature of our business. Accelerating from the first quarter of
the year, Mobile ARPU<SUP>1</SUP> rose 55.6%, and Residential Fiber ARPU rose 33.3% year-over-year in the fourth quarter. For 2022, respective
ARPU growth levels were 40.3% and 26.5%. Mobile ARPU growth was driven by sequential price adjustments, a higher postpaid subscriber base
and upsell efforts, whereas Fiber ARPU growth was sustained by price adjustments, higher speed package preference of new subscribers in
particular and increasing IPTV penetration.</P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">Our consolidated revenue increased by
50.0% year-over-year in 2022 to TRY53.9 billion. Rising 46.5% we registered TRY22.0 billion EBITDA<SUP>2</SUP>. Thanks to our strong operational
performance and the contribution of TRY4.6 billion net deferred tax income arising from fixed asset revaluation, net income realized at
TRY11.1 billion.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><B>The support of our strategic focus
areas continues</B></P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">In 2022, the standalone paid users<SUP>3</SUP>
of our digital services and solutions, which are developed by Turkcell Engineers, increased by 1.1 million year-on-year to 5.1 million,
while standalone revenues rose 30.3%. Digital TV platform TV+ continues to differentiate itself from the peers. According to 3<SUP>rd</SUP>
quarter ICTA data, the pay TV market reached 7.7 subscribers, where TV+, with its 15.9% market share, is the only provider to have steadily
increased its market share since the second quarter of 2014. This performance is attributable to its extensive sales network, strong brand
recognition and rich content. IPTV subscribers increased by 200 thousand year-on-year to 1.3 million while OTT TV users reached 1.0 million.
With an effort to increase the international penetration of BiP, our instant messaging app, we entered the 120 million mobile user Pakistani
market through a partnership agreement with &ldquo;Jazz&rdquo; in December. Currently, 37% of 17.9 million BiP users<SUP>3</SUP> are from
global markets.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">The revenues of our digital business
services, the greatest supporter of the digital transformation of its customers, rose 88.3% year-on-year, exceeding TRY4.3 billion. End-to-end
tailored digital transformation projects, data center and cloud storage services were the main focus areas contributing to growth. While
we have signed 2,800 system integrator and managed service projects to date, we have a contract value (backlog) from system integration
projects of TRY2.8 billion to be realized beyond 2022, doubling the level of last year.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">Serving with Paycell and Financell brands,
our techfin segment sustained its strong contribution to topline growth this year. In 2022, Financell&rsquo;s revenue rose 59.4% to TRY980
million, while its loan portfolio reached TRY3.4 billion up from last year&rsquo;s TRY2.1 billion. With its wide-range product portfolio,
Paycell serves 7.7 million users<SUP>3</SUP>, and its revenues rose 87.2% to TRY877 million. Mobile payment services &ldquo;Pay Later&rdquo;,
driving 66% of the topline, was the main driver of the growth, while POS solutions, accelerating its reach from the last quarter of 2021,
was also supportive. During the year, Paycell launched new services almost in every vertical of the Turkish techfin ecosystem. And as
of December, its users are able to invest in shares listed on the NYSE and Nasdaq Stock Exchange via the Paycell application.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><B>We entered 2023 with uncertainties</B></P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">As we left 2022 behind, having experienced
consecutive macroeconomic and political challenges, we are entering 2023 with hopes of healing our wounds caused by the greatest disaster
of the past century. Yet 2023 comes with series of challenges: the global economies face recession concerns arising in the post pandemic
period, political uncertainty caused by the ongoing war in the central-Europe, energy, commodity and labor cost pressure on producer costs,
and domestically, a much busier political agenda. Therefore, we foresee that our guidance<SUP>4</SUP> may change in the light of changing
conditions. At this stage, we target revenue growth of 55-57% and EBITDA of around TRY34 billion. We expect an operational CAPEX over
sales ratio of around 22%.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">I would like to thank all of my colleagues
those who have given their all in tackling the impact of the devastating earthquakes. As T&uuml;rkiye&rsquo;s Turkcell, we will continue
working hard and heal our wounds together.</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: gray">(1) Excluding M2M</P>

<P STYLE="font: 8pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: gray">(2) EBITDA is a non-GAAP financial
measure. See page 20 for the explanation of how we calculate Adjusted EBITDA and its reconciliation to net income</P>

<P STYLE="font: 8pt/115% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: gray">(3) 3-month active</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: gray">(4) Please note that this section contains
forward-looking statements based on our initial impact assessment of the earthquake. Factors such as changes in the state of emergency
measures and potential aftershocks, as well as the risk factors disclosed in our Annual Report on Form 20-F for 2021 filed with U.S. Securities
and Exchange Commission, could cause actual impacts to differ materially from our expectations.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: gray">(4) 2023&nbsp;guidance&nbsp;figures are
based on TFRS, and&nbsp;do&nbsp;not&nbsp;include the effects of a likely adoption of inflationary accounting in accordance with IAS&nbsp;29.&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt; color: #034EA1"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt; color: #034EA1"><B><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</B></P>

<DIV STYLE="border-bottom: #034EA1 0.75pt solid; padding: 0in 0in 1pt">

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: #034EA1"></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: #034EA1"><B>FINANCIAL AND OPERATIONAL
REVIEW </B></P>

</DIV>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #034EA1"><B>Financial Review of Turkcell Group
</B></P>

<P STYLE="font: 3pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #00B4F0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #034EA1">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="color: white"><B>Profit &amp; Loss Statement (million TRY)</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: white 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD></TR>
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Q421 </B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Q422 </B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="width: 46%; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959"><B>Revenue</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>10,191.5</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>16,043.9</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>57.4%</I></B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>35,920.5</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>53,878.5</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>50.0%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959">Cost of revenue<SUP>1</SUP></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(5,019.9)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(7,935.3)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>58.1%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(17,938.1)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(27,310.6)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>52.2%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #034EA1"><B>Cost of revenue<SUP>1</SUP>/Revenue</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>(49.3%)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>(49.5%)</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(0.2pp)</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>(49.9%)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>(50.7%)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(0.8pp)</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #034EA1"><B>Gross Margin<SUP>1</SUP></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>50.7%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>50.5%</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(0.2pp)</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>50.1%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>49.3%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(0.8pp)</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959">Administrative expenses</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(276.8)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(473.4)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>71.0%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(919.0)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(1,519.0)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>65.3%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #034EA1"><B>Administrative expenses/Revenue</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>(2.7%)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>(3.0%)</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(0.3pp)</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>(2.6%)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>(2.8%)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(0.2pp)</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959">Selling and marketing expenses</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(576.6)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(899.8)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>56.1%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(1,778.5)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(2,700.1)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>51.8%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #034EA1"><B>Selling and marketing expenses/Revenue</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>(5.7%)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>(5.6%)</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>0.1pp</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>(5.0%)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>(5.0%)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B><I>-</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959">Net impairment losses on financial and contract assets</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(106.7)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(63.9)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(40.1%)</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(271.2)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(354.9)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>30.9%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959"><B>EBITDA<SUP>2</SUP></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>4,211.6</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>6,671.5</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>58.4%</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>15,013.8</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>21,993.8</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>46.5%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959"><B>EBITDA Margin </B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>41.3%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>41.6%</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>0.3pp</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>41.8%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>40.8%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(1.0pp)</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-indent: 9.5pt"><FONT STYLE="font-size: 9.5pt; color: #595959">Depreciation and amortization</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(2,075.5)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(2,515.7)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>21.2%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(7,291.9)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(9,478.0)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>30.0%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959"><B>EBIT<SUP>3</SUP></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>2,136.1</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>4,155.8</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>94.6%</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>7,721.9</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>12,515.8</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>62.1%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959"><B>EBIT Margin</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>21.0%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>25.9%</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>4.9pp</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>21.5%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>23.2%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>1.7pp</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959">Net finance income / (expense)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(6,645.2)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(3,424.2)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(48.5%)</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(10,144.6)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(13,489.0)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>33.0%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959">&nbsp;&nbsp;&nbsp;&nbsp;Finance income</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2,569.6</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(642.4)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(125.0%)</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">3,051.1</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">210.8</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(93.1%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959">&nbsp;&nbsp;&nbsp;&nbsp;Finance expense</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(9,214.8)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(2,781.8)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(69.8%)</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(13,195.7)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(13,699.8)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>3.8%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959">Other income / (expense)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">4,355.8</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1,028.9</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(76.4%)</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">6,409.6</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">6,800.9</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>6.1%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959">Investment activity income / (expense)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">474.7</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">157.6</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(66.8%)</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">464.1</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1,779.9</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>283.5%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959">Non-controlling interests</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(0.1)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">0.9</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>n.m</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(0.2)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1.0</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>n.m</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959">Share of profit of equity accounted investees</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">63.6</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(10.0)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(115.7%)</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">90.1</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(71.4)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(179.3%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959">Income tax expense</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">999.7</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">4,087.3</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>308.9%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">490.2</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">3,516.1</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>617.3%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9.5pt; color: #595959"><B>Net Income</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>1,384.6</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>5,996.3</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>333.1%</I></B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>5,031.1</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>11,053.2</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>119.7%</I></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 2pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(1) Excluding depreciation and
amortization expenses.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(2) EBITDA is a non-GAAP financial
measure. See page 20 for the explanation of how we calculate Adjusted EBITDA and its reconciliation to net income.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(3) EBIT is a non-GAAP financial
measure and is equal to EBITDA minus depreciation and amortization expenses.</P>

<P STYLE="font: 1pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Revenue</B></FONT>
<FONT STYLE="color: #0D0D0D">of the Group grew by 57.4% year-on-year in Q422. Turkcell Turkey&rsquo;s growing customer base was the main
driver of this performance with strong ARPU growth as a result of price adjustments to reflect inflationary impacts, larger postpaid subscriber
base, and upsell efforts. Solid demand for digital business services and techfin also contributed to revenue growth.</FONT></P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Turkcell Turkey revenues, comprising 78% of Group
revenues, rose 61.9% year-on-year in Q422 to TRY12,449 million (TRY7,689 million).</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Consumer segment revenues grew
65.2% year-on-year on the back of a larger subscriber base and price adjustments to reflect inflationary impacts.</FONT></TD></TR></TABLE>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Corporate segment revenues
rose 75.8% year-on-year supported by the strong momentum of digital business services, which grew 86.7% year-on-year.</FONT></TD></TR></TABLE>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Standalone digital services
revenues registered as part of consumer and corporate segments grew 51.0% year-on-year in Q422. The increased number of stand-alone paid
users and price adjustments of services were the main drivers of this growth. Similar to the previous three quarters, in Q422 digital
services revenues growth was negatively impacted by regulatory decision that amended the usage conditions of our voicemail service, the
revenues of which are reported under digital services, as of December 1<SUP>st</SUP>, 2021. Excluding this impact, growth would have been
69%.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>


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

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Wholesale revenues rose 35.9%
year-on-year to TRY934 million (TRY687 million), mainly due to customers&rsquo; data capacity upgrades and the positive impact of currency
movements.</FONT></TD></TR></TABLE>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Turkcell International revenues,
comprising 11% of Group revenues, rose 40.9% year-on-year to TRY1,813 million (TRY1,286 million) mainly due to lifecell&rsquo;s performance
and positive currency effects.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #0D0D0D">Techfin segment revenues,
</FONT>comprising 4% of Group revenues, rose 76.8% year-on-year to TRY583 million (TRY330 million). This was driven by a 93.6% rise in
Paycell revenues and 64.4% growth the finance company, Financell. Please refer to the Techfin section for details.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Other subsidiaries' revenues, at
7% of Group revenues, including mainly non-group call center and energy business revenues, digital channels, and consumer electronics
sales revenues, increased 35.4% year-on-year to TRY1,199 million (TRY886 million).</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">For the full year, Turkcell Group
revenues rose 50.0%.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Turkcell Turkey revenues grew 50.1%
to TRY40,851 million (TRY27,224 million).</P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Consumer business rose 47.9%
driven mainly by strong subscriber net additions both in mobile and fixed segments, price adjustments and upsell efforts.</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Corporate revenues rose 58.3%
mainly supported by digital business services revenue growth of 88.3%.</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Standalone digital services
revenues from consumer and corporate segments grew 30.3% driven mainly by expanding standalone paid user base.</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Wholesale revenues grew 72.7%
to TRY3,285 million (TRY1,903 million).</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Turkcell International revenues rose
69.4% to TRY6,354 million (TRY3,750 million).</P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Techfin segment revenues rose 71.9%
to TRY1,849 million (TRY1,076 million).</P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Other subsidiaries&rsquo; revenues
were at TRY4,825 million (TRY3,871 million), indicating a 24.6% growth.</P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Cost of revenue</B></FONT>
<FONT STYLE="color: #0D0D0D">(excluding depreciation and amortization) increased to 49.5% (49.3%) as a percentage of revenues in Q422.
This was driven mainly by the increase in radio expenses (1.8pp) and other cost items (1.3pp), despite the decline in interconnection
cost (1.6pp) and cost of goods sold (1.3pp) as a percentage of revenues.</FONT></P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">For the full year, cost of revenue
(excluding depreciation and amortization) rose to 50.7% (49.9%) as a percentage of revenues. This was due mainly to the rise in radio
expenses (2.0pp) and other cost items (1.7pp), despite the decline in cost of goods sold (1.7pp) and interconnection expenses (1.2pp)
as a percentage of revenues.</P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Administrative expenses
</B></FONT><FONT STYLE="color: #0D0D0D">increased to 3.0% (2.7%) as a percentage of revenues in Q422.</FONT></P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">For the full year, administrative
expenses were at 2.8% (2.6%) as a percentage of revenues.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #034EA1"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Selling and marketing
expenses</B></FONT> <FONT STYLE="color: #0D0D0D">decreased to 5.6% (5.7%) as a percentage of revenues in Q422. This was driven mainly
by the decline in marketing expenses (0.2pp) despite the rise in selling expenses (0.1pp) as a percentage of revenues. </FONT></P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">For the full year, selling and marketing
expenses were at 5.0% (5.0%) as a percentage of revenues.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Net impairment losses
on financial and contract assets </B></FONT><FONT STYLE="color: #0D0D0D">was at 0.4% (1.0%) as a percentage of revenues in Q422.</FONT></P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">For the full year, net impairment
losses on financial and contract assets was at 0.7% (0.8%) as a percentage of revenues.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #034EA1"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>EBITDA<SUP>1</SUP></B></FONT>
<FONT STYLE="color: #0D0D0D">rose by 58.4% year-on-year in Q422 leading to an EBITDA margin of 41.6% (41.3%). </FONT></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #5F5F5F"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">EBITDA is a non-GAAP financial
measure. See page 20 for the explanation of how we calculate adjusted EBITDA and its reconciliation to net income</FONT></TD></TR></TABLE>


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

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -0.25in; color: #0D0D0D"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0; color: #0D0D0D">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Turkcell Turkey&rsquo;s EBITDA rose 60.2% to TRY5,208
million (TRY3,252 million) leading to an EBITDA margin of 41.8% (42.3%).</FONT></TD></TR>
</TABLE>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0; color: #0D0D0D">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Turkcell International EBITDA increased 46.9% to TRY923
million (TRY628 million) driving an EBITDA margin of 50.9% (48.8%) on 2.1pp improvement.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Techfin segment EBITDA rose
42.7% to TRY274 million (TRY192 million) with an EBITDA margin of 47.0% (58.2%).</FONT></TD></TR></TABLE>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 10pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">The EBITDA of other subsidiaries
increased 90.3% to TRY267 million (TRY140 million).</FONT></TD></TR></TABLE>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">For the full year, EBITDA grew 46.5%
resulting in an EBITDA margin of 40.8% (41.8%).</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Turkcell Turkey&rsquo;s EBITDA
rose 41.3% to TRY17,197 million (TRY12,168 million) leading to an EBITDA margin of 42.1% (44.7%).</FONT></TD></TR></TABLE>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Turkcell International EBITDA
increased 76.8% to TRY3,233 million (TRY1,828 million) driving an EBITDA margin of 50.9% (48.8%) on 2.1pp improvement.</FONT></TD></TR></TABLE>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Techfin segment EBITDA rose
41.1% to TRY902 million (TRY639 million) with an EBITDA margin of 48.8% (59.4%).</FONT></TD></TR></TABLE>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; color: #0D0D0D"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">The EBITDA of other subsidiaries
rose 74.9% to TRY662 million (TRY379 million).</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 21.3pt; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Depreciation and
amortization expenses</B></FONT> <FONT STYLE="color: #0D0D0D">increased 21.2% year-on-year in Q422. For the full year depreciation and
amortization expenses increased 30.0%.</FONT></P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Net finance expense
</B></FONT><FONT STYLE="color: #0D0D0D">decreased to TRY3,424 million (TRY6,645 million) in Q422. This was mainly driven by lower FX losses.</FONT></P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">For the full year, net finance expense
increased to TRY13,489 million (TRY10,145 million) mainly due to lower fair value gain on derivate instruments compared to FY21.</P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">See Appendix A for details of net
foreign exchange gain and loss.</P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Net other operating
income </B></FONT><FONT STYLE="color: #0D0D0D">decreased to TRY1,029 million (TRY4,356 million) in Q422. For the full year, net other
operating income increased to TRY6,801 million (TRY6,410 million) mainly due to interest income from time deposits.</FONT></P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">See Appendix A for details of net
foreign exchange gain and loss.</P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #034EA1"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Net investment activity
income </B></FONT><FONT STYLE="color: #0D0D0D">was TRY158 million in Q422 compared to TRY475 million in Q421. </FONT></P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">For the full year, net investment
activity income increased to TRY1,780 million (TRY464 million). This was driven mainly by the fair value difference recognized&nbsp;on
currency-protected time deposits.</P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Income tax expense:
</B></FONT><FONT STYLE="color: #0D0D0D">The deferred tax income of TRY3,895 million (TRY1,016 million) and positive impact of current
tax expense of TRY193 million were reported, leading to an income tax gain of TRY4,087 million in Q422.</FONT></P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">For the full year, deferred tax income
of TRY4,047 million and current tax expense of TRY531 million were reported, leading to an income tax gain of TRY3,516 million.</P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Please note that in Q422, we made
use of the right introduced by Law No. 7338, which allows the revaluation of properties and depreciable economic assets under certain
conditions. This resulted in an impact on the deferred tax asset reported in Q422. For the full year, net impact was at TRY4.6 billion.
Please refer to our consolidated financial statements and notes as at December 31, 2022 for details.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Net income </B></FONT>of
the Group increased by 333.1% to TRY5,996 million (TRY1,385 million) in Q422. This resulted mainly from strong <FONT STYLE="color: #0D0D0D">operational
performance and the positive impact of deferred tax income relating to the revaluation of assets as explained above. </FONT></P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">For the full year, group net income rose 119.7% to
TRY11,053 million (TRY5,031 million) on the back of strong operational performance and the deferred tax income impact despite lower finance
income. Without the deferred tax income impact, group net income is TRY6,445 million.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Please note that in FY22 an impairment charge of
TRY214 million has been recognized on the assets of Ukraine in territories under the control of Ukraine but not operating for more than
92 days and those in territories invaded by Russia.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 305.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Total cash &amp;
debt: </B></FONT><FONT STYLE="color: #0D0D0D">Consolidated cash as of December 31, 2022 increased to TRY25,961 million from TRY24,344
million as of September 30, 2022. This was driven mainly by the positive impact of currency movements. Excluding FX swap transactions,
51% of our cash is in US$, 15% in EUR, and 32% in TRY.</FONT></P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Consolidated debt as of December
31, 2022 increased to TRY53,854 million from TRY51,922 million as of September 30, 2022 due mainly to the impact of currency movements.
Please note that TRY3,055 million of our consolidated debt is comprised of lease obligations. Please note that 46% of our consolidated
debt is in US$, 26%</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">in EUR, 3% in CNY, 5% in UAH, and
19% in TRY.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Net debt<SUP>1</SUP> as of December
31, 2022 was at TRY20,838 million with a net debt to EBITDA ratio of 0.9 times. Excluding finance company consumer loans, our telco only
net debt was at TRY17,473 million with a leverage of 0.8 times.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Turkcell Group had a short FX position of US$25 million
as at the end of the year (Please note that this figure takes hedging portfolio and advance payments into account). The short FX position
of US$25 million is in line with our FX neutral definition, which is between -US$200 million and +US$200 million.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 12pt; color: #034EA1"><B>Capital
expenditures: </B></FONT><FONT STYLE="color: #0D0D0D">Capital expenditures, including non-operational items, amounted to TRY6,434 million
in</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Q422. For the full year, capital
expenditures including non-operational items were at TRY16,361 million.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">For Q422 and the full year, operational
capital expenditures (excluding license fees) at the Group level were at 27.8% and 20.2% of total revenues, respectively.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #034EA1">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="color: white"><B>Capital expenditures (million TRY)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: white 1pt solid; white-space: nowrap; border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD></TR>
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="border-top: white 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 48%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operational Capex </FONT></TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2,686.3</FONT></TD>
    <TD STYLE="border-right: #002060 1pt solid; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">4,454.3</FONT></TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">7,629.8</FONT></TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">10,859.4</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;License and Related Costs</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">-</FONT></TD>
    <TD STYLE="border-right: #002060 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">317.5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">317.5</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-operational Capex <I>(Including IFRS15 &amp; IFRS16)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1,611.1</FONT></TD>
    <TD STYLE="border-right: #002060 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1,662.5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">3,849.6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">5,183.6</FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Total Capex</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>4,297.4</B></FONT></TD>
    <TD STYLE="border-right: #002060 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>6,434.3</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>11,479.4</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>16,360.6</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; color: gray">&nbsp;</P>

<P STYLE="font: 7pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; color: gray">&nbsp;</P>

<P STYLE="font: 7pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; color: gray">&nbsp;</P>

<P STYLE="font: 7pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; color: gray">&nbsp;</P>

<P STYLE="font: 8pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 8pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">(1) Starting from Q421, we have
revised the definition of our net debt calculation to include &quot;financial assets&rdquo; reported under current and non-current assets.
Required reserves&nbsp;held&nbsp;in CBRT&nbsp;balances&nbsp;are also considered in net debt calculation. We believe that these assets
are highly liquid and can be easily converted to cash without significant change in value.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify; color: #5F5F5F">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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    <TD ROWSPAN="2" STYLE="border-top: #034EA1 1pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="color: white"><B>Summary of Operational Data</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: #034EA1 1pt solid; white-space: nowrap; border-right: white 1pt solid; border-bottom: white 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: white 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD></TR>
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y %</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y %</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="width: 52%; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Number of subscribers <I>(million)</I></B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>39.4</B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>41.7</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; width: 8%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>5.8%</I></B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>39.4</B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>41.7</B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>5.8%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Mobile Postpaid (million)&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">23.7</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">25.6</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>8.0%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">23.7</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">25.6</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>8.0%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><I>&nbsp;&nbsp;&nbsp;Mobile M2M </I>(million)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">3.3</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">4.0</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>21.2%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">3.3</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">4.0</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>21.2%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Mobile Prepaid (million)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">12.0</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">12.0</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>-</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">12.0</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">12.0</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>-</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Fiber (thousand)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1,887.8</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">2,121.8</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>12.4%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1,887.8</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">2,121.8</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>12.4%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">ADSL (thousand)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">754.9</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">751.4</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(0.5%)</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">754.9</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">751.4</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(0.5%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Superbox (thousand)<SUP>1</SUP></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">603.6</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><I>670.7</I></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>11.1%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">603.6</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><I>670.7</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>11.1%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Cable (thousand)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">54.6</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">43.9</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(19.6%)</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">54.6</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">43.9</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(19.6%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">IPTV (thousand)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1,082.2</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1,281.7</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>18.4%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1,082.2</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1,281.7</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>18.4%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Churn (%)<SUP>2</SUP></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Mobile Churn (%)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2.5%</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">2.7%</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>0.2pp</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2.0%</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">2.0%</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>-</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Fixed Churn (%)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1.6%</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1.3%</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(0.3pp)</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1.5%</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1.4%</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(0.1pp)</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>ARPU (Average Monthly Revenue per User) (TRY)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Mobile ARPU, blended </FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">54.6</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">83.8</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>53.5%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">50.5</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">70.0</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>38.6%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;Mobile ARPU, blended (excluding M2M)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">59.5</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">92.6</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>55.6%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">54.9</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">77.0</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>40.3%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Postpaid</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">68.2</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">101.6</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>49.0%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">62.8</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">84.7</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>34.9%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;Postpaid (excluding M2M)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">78.3</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">118.7</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>51.6%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">71.7</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">98.4</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>37.2%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Prepaid</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">28.6</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">47.9</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>67.5%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">26.9</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">40.5</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>50.6%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Fixed Residential ARPU, blended</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">82.2</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">110.5</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>34.4%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">77.9</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">98.7</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>26.7%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;Residential Fiber ARPU</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">83.0</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">110.6</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>33.3%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">78.4</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">99.2</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>26.5%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Average mobile data usage per user (GB/user)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>13.3</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>15.7</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>18.0%</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>13.3</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>14.7</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>10.5%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="border-bottom: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Mobile MoU (Avg. Monthly Minutes of usage per subs) blended</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>548.7</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>533.6</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; border-bottom: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(2.8%)</I></B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>551.2</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>546.4</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(0.9%)</I></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 2pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #00B4F0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: gray">(1) Superbox subscribers are included
in mobile subscribers.</P>

<P STYLE="font: 2pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: gray">(2) Churn figures represent average monthly
churn figures for the respective quarters.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #0D0D0D">Turkcell Turkey subscriber
base grew by 2.3 million net additions in FY22 to 41.7 million, thanks to our customer-centric strategy and differentiated value proposition
</FONT>offered to customers<FONT STYLE="color: #0D0D0D">. In addition, we achieved and doubled our 1 million net subscriber additions
target for the year on the back of our diversified solutions that meet customer needs and our innovative campaigns that facilitate their
lives.</FONT></P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #0D0D0D">On the mobile front,
our subscriber base expanded to 37.5 million on 1.9 million net annual additions in FY22. This was driven by net additions from the postpaid
subscriber base, which reached 68.1% (66.4%) of total mobile subscribers. We had 599 thousand quarterly postpaid net additions in Q422.
In FY22, we had a net 10 thousand decline in our prepaid subscribers, </FONT>due mainly to the disconnection of 430 thousand inactive
prepaid subscribers during the quarter in line with our churn policy.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">On the fixed front, our fiber subscriber
base grew by 58 thousand net additions in Q422. In FY22, we had 234 thousand fiber net additions, making the best net add performance
ever. This resulted mainly by focus on fiber network investments, and the strong demand for high-speed and quality broadband connections.
In FY22, we had a net 14 thousand decline in our ADSL and cable subscribers. Total fixed subscribers reached 2.9 million on 69 thousand
quarterly and 220 thousand annual net additions. Meanwhile, IPTV customers reached 1.3 million on 51 thousand quarterly and 200 thousand
annual net additions.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">The average monthly mobile churn
rate was at 2.7% in Q422, and 2.0% in FY22. Meanwhile, the average monthly fixed churn rate was at 1.3% in Q422 and 1.4% in FY22 on the
back of our superior customer experience resulting from the speed and quality we offer on our fiber infrastructure which plays an important
role in maintaining a healthy churn level.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;<FONT STYLE="color: #0D0D0D">Our mobile ARPU (excluding
M2M) rose 55.6% year-on-year in Q422 driven mainly by price adjustments to reflect inflationary impacts and upsell to higher tariffs,
as well as larger postpaid subscriber base. </FONT>Mobile ARPU (excluding M2M) grew 40.3% for the full year mainly on the same drivers.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #0D0D0D">Our residential fiber
ARPU growth was 33.3% year-on-year in Q422. This resulted mainly from price adjustments, upsell to higher tariffs, and higher IPTV penetration
at 67.0% in Q422. For the full year, </FONT>fiber residential ARPU rose 26.5%.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Average monthly mobile data usage
per user rose 10.5% in FY22 to 14.7 GB with the increasing number and data consumption of 4.5G users. Accordingly, the average mobile
data usage of 4.5G users reached 16.0 GB in FY22.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #0D0D0D">Total smartphone penetration
on our network reached 87% in Q422. 93% of those smartphones were 4.5G </FONT>compatible.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #034EA1"><B>TURKCELL INTERNATIONAL</B></P>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #5F5F5F">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #034EA1">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; width: 34%; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="color: white"><B>lifecell<SUP>1</SUP> Financial Data</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 11%; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 11%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; white-space: nowrap; width: 11%; border-bottom: white 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 11%; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 11%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 11%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Revenue </B></FONT><B><FONT STYLE="font-size: 8pt; color: #595959">(million UAH)</FONT></B></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>2,406.4</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>2,606.8</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>8.3%</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>8,482.7</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>9,411.7</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>11.0%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">EBITDA</FONT> <FONT STYLE="font-size: 8pt; color: #595959">(million UAH)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1,319.1</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1,505.6</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>14.1%</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">4,751.2</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">5,446.5</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>14.6%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>EBITDA margin (%)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>54.8%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>57.8%</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>3.0pp</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>56.0%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>57.9%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>1.9pp</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Net income </FONT><FONT STYLE="font-size: 8pt; color: #595959">(million UAH)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">237.9</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">408.8</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>71.8%</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">610.9</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">972.3</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>59.2%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Capex </B></FONT><B><FONT STYLE="font-size: 8pt; color: #595959">(million UAH)</FONT></B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>1,319.3</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>997.4</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(24.4%)</I></B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>3,593.6</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>3,007.6</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(16.3%)</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Revenue </FONT><FONT STYLE="font-size: 8pt; color: #595959">(million TRY)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">996.6</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1,326.1</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>33.1%</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2,805.7</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">4,773.6</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>70.1%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>EBITDA</B></FONT><B> <FONT STYLE="font-size: 8pt; color: #595959">(million TRY)</FONT></B></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>544.5</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>765.8</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>40.6%</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>1,566.4</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>2,763.4</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>76.4%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">EBITDA margin (%)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">54.6%</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">57.7%</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>3.1pp</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">55.8%</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">57.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>2.1pp</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="border-bottom: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Net income </B></FONT><B><FONT STYLE="font-size: 8pt; color: #595959">(million TRY)</FONT></B></TD>
    <TD STYLE="border-bottom: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>98.1</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>207.8</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; border-bottom: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>111.8%</I></B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>210.8</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1.5pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>485.5</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>130.3%</I></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #5F5F5F">(1) Since July 10, 2015, we hold a
100% stake in lifecell.</P>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #034EA1"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>lifecell (Ukraine)
</B></FONT>had another positive revenue growth performance. Accordingly, lifecell revenues rose 8.3% year-on-year in Q422 in local currency
terms on the back of ARPU growth supported by price adjustments and increased data usage. lifecell&rsquo;s EBITDA grew 14.1% year-on-year
leading to an EBITDA margin of 57.8%.</P>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">lifecell revenues in TRY terms grew 33.1% year-on-year
in Q422 mainly due to price adjustments and the positive impact of currency movements. lifecell&rsquo;s EBITDA in TRY terms grew by 40.6%,
leading to an EBITDA margin of 57.7%.</P>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">For the full year, lifecell revenues in local currency
terms increased 11.0%, while its EBITDA rose 14.6% resulting in an EBITDA margin of 57.9%. lifecell also continued to report positive
net income in 2022. In TRY terms, lifecell registered revenue growth of 70.1% with an EBITDA margin of 57.9%.</P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="2" STYLE="border-top: #034EA1 1pt solid; white-space: nowrap; background-color: #034EA1; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="color: white"><B>lifecell Operational Data</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: #034EA1 1pt solid; white-space: nowrap; border-right: white 1pt solid; border-bottom: white 1pt solid; background-color: #034EA1; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: #034EA1 1pt solid; border-bottom: white 1pt solid; background-color: rgb(3,78,161); padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD>
    <TD STYLE="background-color: rgb(3,78,161); padding-bottom: 10pt; line-height: 115%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; background-color: #034EA1; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: white 1pt solid; background-color: #034EA1; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="border-top: white 1pt solid; white-space: nowrap; border-right: white 1pt solid; background-color: #034EA1; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="background-color: #034EA1; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="background-color: #034EA1; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD>
    <TD STYLE="background-color: #034EA1; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="background-color: rgb(3,78,161); padding-bottom: 10pt; line-height: 115%">&nbsp;</TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Number of subscribers </B></FONT><B><FONT STYLE="font-size: 8pt; color: #595959">(million)<SUP>2</SUP></FONT></B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>10.1</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>10.2</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>1.0%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>10.1</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>10.2</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>1.0%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;&nbsp;Active </FONT><FONT STYLE="font-size: 8pt; color: #595959">(3 months)<SUP>3</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">9.2</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">8.5</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(7.6%)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">9.2</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">8.5</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(7.6%)</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>MOU </B></FONT><B><FONT STYLE="font-size: 8pt; color: #595959">(minutes) (12 months)</FONT></B></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>179.0</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>148.0</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(17.3%)</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>180.9</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>156.9</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(13.3%)</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>ARPU </B></FONT><B><FONT STYLE="font-size: 8pt; color: #595959">(Average Monthly Revenue per User), blended (UAH)</FONT></B></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>80.2</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>86.0</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>7.2%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>73.7</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>77.1</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>4.6%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;&nbsp;Active </FONT><FONT STYLE="font-size: 8pt; color: #595959">(3 months) (UAH)</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">88.5</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">104.5</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: #034EA1 1pt solid; white-space: nowrap; border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>18.1%</I></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">83.2</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">91.5</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>10.0%</I></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #5F5F5F">(2) We may occasionally offer campaigns
and tariff schemes that have an active subscriber life differing from the one that we normally use to deactivate subscribers and calculate
churn.</P>

<P STYLE="font: 2pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #5F5F5F">(3) Active subscribers are those who
in the past three months made a revenue generating activity.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">The three-month active subscriber base of lifecell
declined to 8.5 million in Q422, as people have fled the country because of the ongoing war. Meanwhile, lifecell&rsquo;s 3-month active
ARPU rose 18.1% year-on-year on the back of price adjustments and higher data usage. Meanwhile, lifecell continued its leadership of the
Ukrainian market with 84.3% smartphone penetration as of the end of Q422.</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">lifecell remained focused on ensuring the safety
of its employees and provide services to our Ukrainian customers. Meanwhile, our network is largely operational. On average, around 23%
of nearly 9 thousand sites are temporarily down as of December 31, 2022 on a daily basis. The conditions of sites in occupied territories
are unclear. At the end of December, around 92% of our stores are open nationwide on a daily average. In Q422 daily top-ups almost recovered
to the pre-war period levels. Additionally, ICT systems, such as billing and CRM are fully operational. The country&rsquo;s banking system
continues to operate and daily operations, including payments and collections continue as normal. The cash position of lifecell is conducive
to sustain its operations.</P>

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


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #034EA1">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; width: 34%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="color: white"><B>BeST<SUP>1</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; white-space: nowrap; width: 11%; border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Number of subscribers </B></FONT><B><FONT STYLE="font-size: 8pt; color: #595959">(million)</FONT></B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>1.5</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>1.5</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>-</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>1.5</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>1.5</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>-</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;&nbsp;Active </FONT><FONT STYLE="font-size: 8pt; color: #595959">(3 months)</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1.1</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1.1</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>-</I></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1.1</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1.1</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>-</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Revenue (million BYN)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>35.6</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>38.8</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>9.0%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>145.7</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>146.2</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>0.3%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">EBITDA (million BYN)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">10.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">12.4</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>22.8%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">38.1</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">44.2</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>16.0%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>EBITDA margin (%)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>28.5%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>32.0%</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>3.5pp</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>26.1%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>30.2%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>4.1pp</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Net loss (million BYN)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(7.5)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(103.1)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>1,274.7%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(31.6)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(124.8)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>294.9%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Capex (million BYN)</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>16.7</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>25.3</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>51.5%</I></B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>63.5</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>81.4</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>28.2%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Revenue (million TRY)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">157.3</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">288.1</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>83.2%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">507.8</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">936.0</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>84.3%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>EBITDA (million TRY)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>44.7</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>92.1</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>106.0%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>133.9</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>284.5</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>112.5%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">EBITDA margin (%)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">28.4%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">32.0%</FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>3.6pp</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">26.4%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">30.4%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>4.0pp</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Net loss (million TRY)</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>(32.9)</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>(745.4)</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1.5pt solid; white-space: nowrap; border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>2,165.7%</I></B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>(109.9)</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>(871.4)</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>692.9%</I></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 2pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: gray">&nbsp;</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: gray">(1) BeST, in which we hold a 100% stake,
has operated in Belarus since July 2008.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #5F5F5F">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>BeST</B></FONT> revenues
increased 9.0% year-on-year in local currency terms in Q422. This was mainly due to the data and outgoing voice revenues despite the decrease
in handset sales revenues. BeST registered an EBITDA of BYN12.4 million in Q422, which led to an EBITDA margin of 32.0%. In Q422, financial
obligation based on Investment Agreement signed between the Republic of Belarus, BeST and Turkcell has been booked in BeST standalone
financial statements. This has no negative impact on consolidated financial statements since the previous obligation related to investment
agreement booked on consolidated level has been reversed. BeST&rsquo;s revenues in TRY terms increased 83.2% year-on-year in Q422 with
an EBITDA margin of 32.0%.</P>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">For the full year, BeST&rsquo;s revenue in local
currency terms remained flat compared with the previous year. EBITDA rose 16.0%, resulting in a 30.2% EBITDA margin on 4.1pp improvement.
BeST&rsquo;s revenue in TRY terms rose 84.3% with an EBITDA margin of 30.4%.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">In Q422, BeST continued to expand its 4G network
in 6 regions, reaching 4.1 thousand sites, which grew by 186 additions during the quarter. Extended LTE coverage allows BeST to increase
penetration of 4G subscribers. Accordingly, 4G users comprised 78% of the 3-month active subscriber base as of Q422. Meanwhile, the average
monthly data consumption of 4G subscribers rose 14% year-on-year to 18.3 GB.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Moreover, asymmetric MTR (mobile termination rates)
which came into effect as of December 31, 2022 was a positive step towards further strengthening a fair competitive market.</P>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #034EA1">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; width: 34%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="color: white"><B>Kuzey K&#305;br&#305;s Turkcell<SUP>2</SUP> (million TRY)</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; white-space: nowrap; width: 11%; border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Number of subscribers </B></FONT><B><FONT STYLE="font-size: 8pt; color: #595959">(million)</FONT></B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>0.6</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>0.6</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>-</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>0.6</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>0.6</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>-</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Revenue</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">90.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">147.8</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>64.0%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">306.6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">473.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>54.3%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>EBITDA</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>35.3</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>65.2</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>84.7%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>121.1</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>195.1</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>61.1%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">EBITDA margin (%)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">39.2%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">44.1%</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>4.9pp</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">39.5%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">41.2%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>1.7pp</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Net income</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>25.5</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>106.8</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>318.8%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>68.3</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>175.6</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>157.1%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Capex</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">26.6</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">361.2</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>1,257.9%</I></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">74.2</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">458.9</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>518.5%</I></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: gray">(2) Kuzey K&#305;br&#305;s Turkcell,
in which we hold a 100% stake, has operated in Northern Cyprus since 1999</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="color: #034EA1"><B>Kuzey K&#305;br&#305;s
Turkcell</B></FONT> revenues increased by 64.0% year-on-year in Q422 driven by higher voice and roaming revenues as well as fixed broadband
and handset sales revenues. In Q422, the EBITDA of Kuzey K&#305;br&#305;s Turkcell grew 84.7% yielding a 44.1% EBITDA margin.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">For the full year, Kuzey K&#305;br&#305;s Turkcell
revenues increased 54.3% with the same drivers. The EBITDA grew 61.1% leading to an EBITDA margin of 41.2%. Meanwhile, K&#305;br&#305;s
Telekom was entitled to receive the 4G license for 18 years and the 5G license for 20 years.</P>

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


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #034EA1"><B>TECHFIN</B></P>

<P STYLE="font: 5pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #034EA1">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; width: 46%; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="color: white"><B>Paycell Financial Data (million TRY)</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; white-space: nowrap; width: 9%; border-bottom: white 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Revenue</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>139.6</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>270.2</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>93.6%</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>468.4</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>876.9</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>87.2%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">EBITDA</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">64.3</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">116.7</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>81.5%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">222.4</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">387.8</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>74.4%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>EBITDA Margin (%)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>46.1%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>43.2%</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(2.9pp)</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>47.5%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>44.2%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(3.3pp)</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Net Income</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">48.7</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">83.3</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>71.0%</I></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">155.1</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">274.1</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>76.6%</I></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Paycell&rsquo;s revenue rose by 93.6%
year-on-year in Q422. This robust performance resulted mainly from the continued demand for digital payments which we addressed with a
diversified product portfolio that includes mobile payment services, particularly the Pay Later solution, as well as POS solutions and
Paycell card. The demand for digital payment services remained solid with changing consumer behavior. Paycell&rsquo;s EBITDA increased
81.5% year-on-year leading to an EBITDA margin of 43.2% in Q422.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">The quarterly transaction volume
(non-group) of Pay Later service exceed TRY1 billion, which was utilized by 3-month active Pay Later users of 5.0 million in Q422 as well
as higher merchant penetration supported by the dual growth strategy of Paycell. Meanwhile, the Paycell Card transaction volume more than
doubled year-on-year to TRY2.8 billion in Q422. In addition, the transaction volume of POS solutions reached TRY4.4 billion in Q422. Meanwhile,
Paycell App added Stock Market (NYSE &amp; Nasdaq) feature, launched with commission-free campaign. Paycell also continued to act as a
market-place for gold, silver, and platinum trading in Q422. Overall, Paycell's total transaction volume across all services more than
doubled to TRY11.8 billion year-on-year, driven mainly by 17% year-on-year rise in Paycell&rsquo;s total 3-month active users to 7.7 million,
and their increased usage.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">For the full year, Paycell registered
87.2% revenue growth and the total transaction volume of TRY37.1 billion more than doubled year-on-year. Paycell&rsquo;s EBITDA rose 74.4%
year-on-year leading to an EBITDA margin of 44.2%. The decrease in the EBITDA margin was mainly due to the rise in personel expenses.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #034EA1">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; width: 46%; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="color: white"><B>Financell Financial Data (million TRY)</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; white-space: nowrap; width: 9%; border-bottom: white 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 9%; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Revenue</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>190.4</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>313.1</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>64.4%</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>614.9</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>980.1</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>59.4%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">EBITDA</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">128.9</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">160.9</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>24.8%</I></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">420.4</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">523.0</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>24.4%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>EBITDA Margin (%)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>67.7%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>51.4%</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(16.3pp)</I></B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>68.4%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>53.4%</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(15.0pp)</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Net Income</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">109.5</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">101.7</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(7.1%)</I></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">334.6</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">318.6</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(4.8%)</I></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Financell&rsquo;s revenue increased
64.4% year-on-year in Q422. This growth was primarily due to the expansion of the loan portfolio and the higher average interest rate
on the loan portfolio compared to the same period of last year. Meanwhile, Financell reported EBITDA growth of 24.8% year-on-year, resulting
in an EBITDA margin of 51.4% in Q422. The decrease in EBITDA margin was due to higher funding costs compared to the Q421. Financell's
net income declined 7.1% year-on-year.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Financell&rsquo;s revenues rose by
59.4% for the full year and EBITDA increased 24.4% yielding an EBITDA margin of 53.4%. Higher funding cost compared to the previous year
was the main reason for the year-on-year decline in EBITDA margin.</P>

<P STYLE="font: 6pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">Financell&rsquo;s loan portfolio
increased to TRY3.4 billion at the end of Q422. Although the installment limitation on consumer loans for telecom devices continued to
limit the growth of the loan portfolio, higher lending to corporate customers and greater mobility supported the loan portfolio. Accordingly,
Financell has provided loans to over 22 thousand corporate customers. Financell&rsquo;s cost of risk decreased from 1.3% in Q322 to 1.0%
in Q422 thanks to customer portfolio improvement and successful collection performance.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D">&nbsp;</P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #034EA1"><B>Turkcell Group Subscribers</B></P>

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

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Turkcell Group registered subscribers amounted to
approximately 54.0 million as of December 31, 2022. This figure is calculated by taking the number of subscribers of Turkcell Turkey,
and of each of our subsidiaries. It includes the total number of mobile, fiber, ADSL, cable and IPTV subscribers of Turkcell Turkey, and
the mobile subscribers of lifecell, BeST, and Kuzey K&#305;br&#305;s Turkcell.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="border-top: #034EA1 1pt solid; white-space: nowrap; width: 46%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="color: white"><B>Turkcell Group Subscribers</B></FONT></TD>
    <TD STYLE="border-top: #034EA1 1pt solid; white-space: nowrap; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="border-top: #034EA1 1pt solid; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q322</B></FONT></TD>
    <TD STYLE="border-top: #034EA1 1pt solid; white-space: nowrap; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="border-top: #034EA1 1pt solid; white-space: nowrap; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="border-top: #034EA1 1pt solid; white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>q/q%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Turkcell Turkey subscribers </B></FONT><B><FONT STYLE="font-size: 8pt; color: #595959">(million)<SUP>1</SUP></FONT></B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>39.4</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>41.6</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>41.7</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>5.8%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>0.2%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">lifecell (Ukraine) </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">10.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">10.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">10.2</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>1.0%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>1.0%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">BeST (Belarus)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1.5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1.5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1.5</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>-</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>-</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Kuzey K&#305;br&#305;s Turkcell&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">0.6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">0.6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">0.6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>-</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>-</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Turkcell Group Subscribers (million)</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>51.6</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>53.8</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>54.0</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>4.7%</I></B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>0.4%</I></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 2pt 0 0; text-align: justify; color: gray">(1) Subscribers to more than one
service are counted separately for each service.</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 2pt 0 0; text-align: justify; color: gray">&nbsp;</P>

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

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

<P STYLE="border-bottom: #034EA1 0.25pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #034EA1"><B>OVERVIEW
OF THE MACROECONOMIC ENVIRONMENT </B></P>

<P STYLE="font: 3pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">The foreign exchange rates used in our financial
reporting, along with certain macroeconomic indicators, are set out below.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #034EA1">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-right: white 1pt solid; border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD></TR>
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="border-top: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q322</B></FONT></TD>
    <TD STYLE="border-top: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="border-top: white 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="border-top: white 1pt solid; border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>q/q%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>GDP Growth (Turkey)</B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>9.6%</B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>4.0%</B></FONT></TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>3.5%</B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(6.1pp)</I></B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(0.5pp)</I></B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>11.4%</B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>5.6%</B></FONT></TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(5.8pp)</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Consumer Price Index (Turkey)(yoy)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>36.1%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>83.5%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>64.3%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>28.2pp</I></B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(19.2pp)</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>36.1%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>64.3%</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>28.2pp</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>US$ / TRY rate</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;Closing Rate</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">13.3290</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">18.5038</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">18.6983</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>40.3%</I></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>1.1%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">13.3290</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">18.6983</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>40.3%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;Average Rate</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">11.0757</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">17.8817</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">18.6010</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>67.9%</I></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>4.0%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">8.8797</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">16.4900</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>85.7%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>EUR / TRY rate</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;Closing Rate</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">15.0867</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">17.9232</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">19.9349</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>32.1%</I></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>11.2%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">15.0867</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">19.9349</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>32.1%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;Average Rate</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">12.6591</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">18.0379</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">18.9748</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>49.9%</I></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>5.2%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">10.4810</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">17.3108</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>65.2%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>US$ / UAH rate</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;Closing Rate</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">27.2782</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">36.5686</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">36.5686</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>34.1%</I></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>-</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">27.2782</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">36.5686</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>34.1%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;Average Rate</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">26.8092</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">35.3497</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">36.5686</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>36.4%</I></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>3.4%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">27.3362</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">32.4854</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>18.8%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>US$ / BYN rate</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;Closing Rate</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2.5481</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2.4803</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">2.7364</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>7.4%</I></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>10.3%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2.5481</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">2.7364</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>7.4%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;&nbsp;Average Rate</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2.5019</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2.5585</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">2.5055</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>0.1%</I></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(2.1%)</I></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2.5448</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">2.6098</FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>2.6%</I></FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 12pt; color: #034EA1"><B>RECONCILIATION
OF NON-GAAP FINANCIAL MEASUREMENTS: </B></FONT><FONT STYLE="font-size: 9pt"><I>We believe Adjusted EBITDA, among other measures, facilitates
performance comparisons from period to period and management decision making. It also facilitates performance comparisons from company
to company. Adjusted EBITDA as a performance measure eliminates potential differences caused by variations in capital structures (affecting
interest expense), tax positions (such as the impact of changes in effective tax rates on periods or companies) and the age and book depreciation
of tangible assets (affecting relative depreciation expense). We also present Adjusted EBITDA because we believe it is frequently used
by securities analysts, investors and other interested parties in evaluating the performance of other mobile operators in the telecommunications
industry in Europe, many of which present Adjusted EBITDA when reporting their results. </I></FONT></P>

<P STYLE="font: 9pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 9pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>Our Adjusted EBITDA definition includes Revenue,
Cost of Revenue excluding depreciation and amortization, Selling and Marketing expenses, Administrative expenses and Net impairment losses
on financial and contract assets, but excludes finance income and expense, other operating income and expense, investment activity income
and expense, share of profit of equity accounted investees and minority interest.</I></P>

<P STYLE="font: 9pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 9pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>Nevertheless, Adjusted EBITDA has limitations as
an analytical tool, and you should not consider it in isolation from, or as a substitute for analysis of our results of operations, as
reported under TFRS. The following table provides a reconciliation of Adjusted EBITDA, as calculated using financial data prepared in
accordance with TFRS to net profit, which we believe is the most directly comparable financial measure calculated and presented in accordance
with TFRS.</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #034EA1">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="color: white"><B>Turkcell Group (million TRY)</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; width: 10%; border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Adjusted EBITDA</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>4,211.6</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>6,671.5</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>58.4%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>15,013.8</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>21,993.8</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>46.5%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Depreciation and amortization</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(2,075.5)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(2,515.7)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>21.2%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(7,291.9)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(9,478.0)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>30.0%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B8CCE4">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>EBIT</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>2,136.1</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>4,155.8</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>94.6%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>7,721.9</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>12,515.8</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>62.1%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Finance income</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2,569.6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(642.4)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(125.0%)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">3,051.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">210.8</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(93.1%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Finance expense</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(9,214.8)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(2,781.8)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(69.8%)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(13,195.7)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(13,699.8)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>3.8%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Other operating income / (expense)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">4,355.8</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1,028.9</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(76.4%)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">6,409.6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">6,800.9</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>6.1%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Investment activity income / (expense)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">474.7</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">157.6</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(66.8%)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">464.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">1,779.9</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>283.5%</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Share of profit of equity accounted investees</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">63.6</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(10.0)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(115.7%)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">90.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(71.4)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(179.3%)</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Consolidated profit before income tax &amp; minority interest</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>385.0</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>1,908.0</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>395.6%</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>4,541.1</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>7,536.1</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>66.0%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Income tax expense </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">999.7</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">4,087.3</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>308.9%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">490.2</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">3,516.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>617.3%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Consolidated profit before minority interest</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>1,384.7</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>5,995.3</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>333.0%</I></B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>5,031.3</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>11,052.2</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>119.7%</I></B></FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

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

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


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt">&nbsp;</P>

<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 4pt; text-align: justify"><FONT STYLE="font-size: 12pt; color: #034EA1"><B>NOTICE:</B></FONT>
<FONT STYLE="font-size: 9pt"><I>This release includes forward-looking statements within the meaning of Section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions of the US Private Securities Litigation Reform
Act of 1995. This includes, in particular, our targets for revenue, EBITDA and capex for 2022. More generally, all statements other than
statements of historical facts included in this press release, including, without limitation, certain statements regarding the launch
of new businesses, our operations, financial position and business strategy may constitute forward-looking statements. In addition, forward-looking
statements generally can be identified by the use of forward-looking terminology such as, among others, &quot;will,&quot; &quot;expect,&quot;
&quot;intend,&quot; &quot;estimate,&quot; &quot;believe&quot;, &quot;continue&quot; and &ldquo;guidance&rdquo;. </I></FONT></P>

<P STYLE="font: 9pt Calibri, Helvetica, Sans-Serif; margin: 0 0 4pt; text-align: justify"><I>Although Turkcell believes that the expectations
reflected in such forward-looking statements are reasonable at this time, it can give no assurance that such expectations will prove to
be correct. All subsequent written and oral forward-looking statements attributable to us are expressly qualified in their entirety by
reference to these cautionary statements. For a discussion of certain factors that may affect the outcome of such forward looking statements,
see our Annual Report on Form 20-F for 2021 filed with the U.S. Securities and Exchange Commission, and in particular the risk factor
section therein. We undertake no duty to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.</I></P>

<P STYLE="font: 9pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>The Company makes no representation as to the accuracy
or completeness of the information contained in this press release, which remains subject to verification, completion and change. No responsibility
or liability is or will be accepted by the Company or any of its subsidiaries, board members, officers, employees or agents as to or in
relation to the accuracy or completeness of the information contained in this press release or any other written or oral information made
available to any interested party or its advisers.</I></P>

<P STYLE="font: 9pt Calibri, Helvetica, Sans-Serif; margin: 0 0 4pt; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 12pt; color: #034EA1"><B>ABOUT
TURKCELL: </B></FONT><FONT STYLE="font-size: 9pt"><I>Turkcell is a digital operator headquartered in Turkey, serving its customers with
its unique portfolio of digital services along with voice, messaging, data and IPTV services on its mobile and fixed networks. Turkcell
Group companies operate in 4 countries &ndash; Turkey, Ukraine, Belarus, and Northern Cyprus. Turkcell launched LTE services in its home
country on April 1<SUP>st</SUP>, 2016, employing LTE-Advanced and 3 carrier aggregation technologies in 81 cities. Turkcell offers up
to 10 Gbps fiber internet speed with its FTTH services. Turkcell Group reported TRY53.9 billion revenue in FY22 with total assets of TRY101.3
billion as of December 31, 2022. It has been listed on the NYSE and the BIST since July 2000, and is the only NYSE-listed company in Turkey.
Read more at www.turkcell.com.tr.</I></FONT></P>

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

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #034EA1"><B>For further information please
contact Turkcell</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 59%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #034EA1"><B><I>Investor Relations</I></B></P>
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #262626"><I>Tel: + 90 212 313 1888</I></P>
    <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #262626"><I>investor.relations@turkcell.com.tr</I></P></TD>
    <TD STYLE="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #034EA1"><B><I>Corporate Communications:</I></B></P>
    <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #262626"><I>Tel: + 90 212 313 2321</I></P>
    <P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; color: #262626"><I>Turkcell-Kurumsal-Iletisim@turkcell.com.tr</I></P></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

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

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

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

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

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

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

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

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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 0pt"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 31.8pt; width: 503.4pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="border-bottom: #034EA1 0.5pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #034EA1"><B>Appendix
A &ndash; Tables</B></P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D"><B><I>Table: Net foreign exchange
gain and loss details</I></B></P>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #034EA1">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; width: 30%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="color: white"><B>Million TRY</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; width: 12%; border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Net FX loss before hedging</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>(4,137.2)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>(383.0)</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(90.7%)</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>(5,538.5)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>(3,834.0)</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(30.8%)</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Swap interest income/(expense)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(89.2)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">29.0</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>n.m</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(422.4)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(127.0)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(69.9%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Fair value gain on derivative financial instruments</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">2,613.3</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(945.3)</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(136.2%)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">3,312.8</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(130.8)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(103.9%)</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Net FX gain / (loss) after hedging</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>(1,613.1)</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>(1,299.3)</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>(19.5%)</I></B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>(2,648.1)</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>(4,091.7)</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>54.5%</I></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 2pt 0 0; text-align: justify; color: #0D0D0D"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 2pt 0 0; text-align: justify; color: #0D0D0D"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 2pt 0 0; text-align: justify; color: #0D0D0D"><B><I>Table: Income tax expense
details</I></B></P>

<P STYLE="font: 2pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #0D0D0D"><B><I>&nbsp;</I></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #034EA1">
    <TD ROWSPAN="2" STYLE="white-space: nowrap; width: 28%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="color: white"><B>Million TRY</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Quarter</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; width: 12%; border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; white-space: nowrap; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Year</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: #034EA1">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>Q422</B></FONT></TD>
    <TD STYLE="border-right: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B>FY22</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="color: white"><B><I>y/y%</I></B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Current tax expense</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(106.6)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">192.8</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>n.m</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(681.5)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(530.6)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>(22.1%)</I></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959">Deferred tax income / (expense)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1,106.3</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">3,894.6</FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>252.0%</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1,171.7</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">4,046.7</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><I>245.4%</I></FONT></TD></TR>
  <TR STYLE="background-color: #B3CAE3">
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt; color: #595959"><B>Income Tax expense</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>999.7</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>4,087.4</B></FONT></TD>
    <TD STYLE="border-right: #034EA1 1pt solid; border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>308.9%</I></B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>490.2</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>3,516.1</B></FONT></TD>
    <TD STYLE="border-bottom: #034EA1 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B><I>617.3%</I></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 2pt 0 0; text-align: justify; color: #0D0D0D"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 2pt 0 0; text-align: justify; color: #0D0D0D"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 2pt 0 0; text-align: justify; color: #0D0D0D"><B><I>Table: Fixed asset revaluation
net impact</I></B></P>

<P STYLE="font: 4pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; color: #00B4F0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 37%; background-color: #034EA1; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="color: white"><B>Million TRY</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; background-color: #034EA1; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; background-color: #034EA1; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Q421</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="width: 30%; background-color: #034EA1; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="color: white"><B>Million TRY</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; background-color: #034EA1; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; background-color: #034EA1; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>Q422</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #5F5F5F">Tax effect of fixed asset revalution</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1,137.3</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Tax effect of fixed asset revalution</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">4,311.4</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #5F5F5F">&nbsp;&nbsp;2% payment of fixed asset revalution</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(106.7)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;2% payment of fixed asset revalution</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(217.6)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #00B0F0 1pt solid; background-color: #B3CAE3; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #5F5F5F"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #00B0F0 1pt solid; background-color: #B3CAE3; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #00B0F0 1pt solid; background-color: #B3CAE3; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>1,030.6</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="border-bottom: #00B0F0 1pt solid; background-color: #B3CAE3; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #5F5F5F"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #00B0F0 1pt solid; background-color: #B3CAE3; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #00B0F0 1pt solid; background-color: #B3CAE3; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>4,093.8</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 2pt 0 0; text-align: justify; color: #0D0D0D"><B><I>&nbsp;</I></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 37%; background-color: #034EA1; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="color: white"><B>Million TRY</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; background-color: #034EA1; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; background-color: #034EA1; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>FY21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="width: 30%; background-color: #034EA1; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="color: white"><B>Million TRY</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; background-color: #034EA1; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; background-color: #034EA1; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt; color: white"><B>FY22</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #5F5F5F">Tax effect of fixed asset revalution</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">1,680.7</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">Tax effect of fixed asset revalution</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">4,862.7</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #5F5F5F">&nbsp;&nbsp;2% payment of fixed asset revalution</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959">(158.2)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #595959">&nbsp;&nbsp;2% payment of fixed asset revalution</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1">(254.0)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #00B0F0 1pt solid; background-color: #B3CAE3; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #5F5F5F"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #00B0F0 1pt solid; background-color: #B3CAE3; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #00B0F0 1pt solid; background-color: #B3CAE3; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #595959"><B>1,522.5</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="border-bottom: #00B0F0 1pt solid; background-color: #B3CAE3; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 9pt; color: #5F5F5F"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #00B0F0 1pt solid; background-color: #B3CAE3; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #00B0F0 1pt solid; background-color: #B3CAE3; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 9pt; color: #034EA1"><B>4,608.7</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 2pt 0 0; text-align: justify; color: #0D0D0D"><B><I>&nbsp;</I></B></P>

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



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

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</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 212.35pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>TURKCELL &#304;LET&#304;&#350;&#304;M
H&#304;ZMETLER&#304; A.&#350;.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>CONSOLIDATED
FINANCIAL STATEMENTS </B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>FOR THE YEAR
ENDED </B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>31 DECEMBER
2022</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>(Translated
into English from the report </B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>originally
issued in Turkish)</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 127.4pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

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

<!-- Field: Page; Sequence: 24 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><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="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="letter-spacing: -0.15pt"><B>&nbsp;</B></FONT>&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &#304;LET&#304;&#350;&#304;M H&#304;ZMETLER&#304;
A.&#350;.</B></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.15pt"><B>CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022 </B></FONT></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><B>CONTENT</B></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><B>PAGE</B></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><B>CONSOLIDATED STATEMENT OF FINANCIAL POSITION</B></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><B>1-3</B></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><B>CONSOLIDATED STATEMENT OF PROFIT OR LOSS</B></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><B>4</B></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><B>CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME</B></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><B>5</B></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><B>CONSOLIDATED STATEMENT OF CHANGES IN EQUITY</B></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><B>6</B></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><B>CONSOLIDATED STATEMENT OF CASH FLOWS</B></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><B>7</B></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><B>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</B></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><B>8-122</B></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap"><B>NOTE</B></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; width: 9%; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">1</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 86%; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">ORGANIZATION AND OPERATIONS OF THE COMPANY</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; width: 5%; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">8</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">2</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">BASIS OF PRESANTATION OF FINANCIAL STATEMENTS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">3</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">BUSINESS COMBINATIONS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">51</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">4</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">SEGMENTAL REPORTING</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">52</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">5</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">CASH AND CASH EQUIVALENTS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">56</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">6</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">TRADE RECEIVABLES AND PAYABLES</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">56</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">7</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">RECEIVABLES FROM FINANCE SECTOR OPERATIONS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">58</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">8</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">OTHER RECEIVABLES AND PAYABLES</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">59</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">9</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">ASSETS ARISING FROM CUSTOMER CONTRACTS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">60</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">10</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">INVENTORIES</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">60</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">PREPAID EXPENSES AND DEFERRED REVENUE</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">60</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">12</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">INVESTMENTS VALUED BY EQUITY METHOD</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">61</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">13</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">INVESTMENT PROPERTIES</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">61</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">14</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">PROPERTY, PLANT AND EQUIPMENT</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">64</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">15</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">INTANGIBLE ASSETS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">66</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">16</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">RIGHT-OF-USE ASSETS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">69</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">17</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">GOODWILL</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">70</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">18</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">IMPAIRMENT OF ASSETS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">70</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">19</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">BORROWING COSTS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">70</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">20</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">PROVISIONS, CONTINGENT ASSETS AND LIABILITIES</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">71</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">21</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">COMMITMENTS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">78</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">22</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">EMPLOYEE BENEFITS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">79</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">23</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">LIABILITIES ARISING FROM CUSTOMER CONTRACTS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">81</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">24</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">EXPENSES BY NATURE</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">81</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">25</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">OTHER ASSETS AND LIABILITIES</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">82</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">26</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">PAID-IN CAPITAL, LEGAL RESERVES VE OTHER EQUITY ITEMS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">83</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">27</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">REVENUE AND COST OF REVENUE</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">85</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">28</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">GENERAL ADMINISTRATIVE EXPENSES, MARKETING EXPENSES</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">87</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">29</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">OTHER OPERATING INCOME / EXPENSES</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">88</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">30</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">INVESTMENT INCOME</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">89</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">31</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">FINANCIAL INCOME AND EXPENSES</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">89</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">32</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">INCOME TAXES</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">90</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">33</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">EARNINGS PER SHARE</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">95</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">34</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">FINANCIAL INVESTMENTS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">95</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">35</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">DERIVATIVE INSTRUMENTS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">98</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">36</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">BORROWINGS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">106</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">37</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">RELATED PARTY DISCLOSURES</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">109</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">38</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">NATURE AND LEVEL OF RISKS ARISING FROM FINANCIAL INSTRUMENTS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">113</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">39</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">SUPPLEMANTARY CASH FLOW INFORMATION</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">121</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">40</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">FEES FOR SERVICES RECEIVED FROM INDEPENDENT AUDIT FIRM</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">122</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">41</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">OTHER MATTERS MATERIALITY AFFECTING THE CONSOLIDATED FINANCIAL STATEMENTS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">122</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">42</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">SUBSEQUENT EVENTS</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: middle; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">122</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 42.55pt"></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT
31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: Black 0.5pt solid"><I>(All amounts
are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands unless
otherwise stated.)</I></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Audited</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 54%; padding-right: 0pt; padding-left: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>ASSETS</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Notes</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 19%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Current Assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">5</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;25,960,674 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;18,628,665 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Balances with the Central Bank of the Republic Turkey</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;162,593 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Financial investments</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,783,562 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;55,330 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Time deposits</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;748,665 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;4,164 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Fair value through profit or loss financial assets</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">34</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;4,034,897 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-&nbsp;&nbsp;</I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Fair value through other comprehensive income financial assets</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">34</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;51,166 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Trade receivables</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;6,741,511 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,332,024 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Trade receivables from related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;76,449 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;175,170 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Trade receivables from non-related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">6</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;6,665,062 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;4,156,854 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Receivables from finance sector operations</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,276,788 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,014,626 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Non-related party receivables from finance sector operations</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">7</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;3,276,788 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,014,626 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Other receivables</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;145,589 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;331,333 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Other receivables from non-related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">8</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;145,589 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;331,333 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Assets arising from customer contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,888,942 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,180,236 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Assets arising from goods and service sales contracts</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">9</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,888,942 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,180,236 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Derivative instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">35</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,032,416 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,131,070 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Inventories</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">10</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;277,670 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;260,535 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Prepaid expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;478,781 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;271,595 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Prepaid expenses to related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;10,475 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;6,965 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Prepaid expenses to non-related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;468,306 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;264,630 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Assets related to current tax</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;446,892 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;196,019 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Other current assets</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;611,232 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;110,173 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Other current assets from non-related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">25</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;611,232 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;110,173 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B><I>TOTAL CURRENT ASSETS</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B><I>&nbsp;46,806,650 </I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B><I>&nbsp;29,511,606 </I></B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Non-Current Assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Financial investments</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,109,457 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,376,645 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Fair value through profit or loss financial assets</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">34</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;258,627 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-</I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Fair value through other comprehensive income financial assets</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">34</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,850,830 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,376,645 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Investments valued by equity method</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">12</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,122,943 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;678,584 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Trade receivables</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;298,759 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;256,442 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Trade receivables from non-related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">6</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;298,759 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;256,442 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Receivables from finance sector operations</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;285,138 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;137,559 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Non-related party receivables from finance sector operations</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">7</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;285,138 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;137,559 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Other receivables</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;375,694 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;162,980 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Other receivables from non-related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">8</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;375,694 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;162,980 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Assets arising from customer contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;67,054 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;67,505 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Assets arising from goods and service sales contracts</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">9</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;67,054 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;67,505 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Investment properties</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">13</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;11,599 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;16,588 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Property, plant and equipment</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">14</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;21,904,044 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;18,002,779 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Plant, machinery and devices</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;18,289,041 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;15,510,759 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Other tangible assets</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;3,615,003 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,492,020 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Intangible assets</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">15</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;17,742,007 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;14,661,779 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Licenses</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;4,624,517 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;5,289,996 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Computer softwares</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;8,038,431 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;5,429,486 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Other intangible assets</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;5,030,638 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;3,893,876 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Goodwill</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">17</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;48,421 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;48,421 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Right-of-use assets</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">16</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,062,298 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,983,648 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Prepaid expenses</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,423,822 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,009,586 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Prepaid expenses to related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;178 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;347 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Prepaid expenses to non-related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,423,644 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,009,239 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Deferred tax assets</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">32</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,991,224 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,799,612 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Other non-current assets</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;64,116 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;17,330 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B><I>TOTAL NON-CURRENT ASSETS</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B><I>&nbsp;54,458,155 </I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B><I>&nbsp;41,171,037 </I></B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>TOTAL ASSETS</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;101,264,805 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;70,682,643 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes form an integral part of these
consolidated financial statements.</P>

<P STYLE="text-align: center; margin-top: 0; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0">Translated into English from the report originally issued in Turkish</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; padding-right: 5.4pt">
    <P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &#304;LET&#304;&#350;&#304;M H&#304;ZMETLER&#304;
    A.&#350;.</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT
    31 DECEMBER 2022</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>(All amounts are expressed in thousand of Turkish Lira unless otherwise
    stated. Currencies other than Turkish Lira are expressed in thousands unless otherwise stated.)</I></P></TD></TR></TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Audited</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 54%; padding-right: 0pt; padding-left: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>LIABILITIES</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Notes</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 19%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Short-term Liabilities</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Short-term borrowings</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">36</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;10,758,843 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,762,578 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Short-term borrowings from related parties</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">37</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,190,039 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;907,138 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Bank loans</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,791,256 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;762,613 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Lease obligations</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;41,286 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;42,587 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Issued debt instruments</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;357,497 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;101,938 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Short-term borrowings from non-related parties</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;7,568,804 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,855,440 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Bank loans</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;5,969,598 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;3,004,972 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Lease obligations</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;831,991 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;850,468 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Issued debt instruments</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;767,215 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Short-term portion of long-term borrowings from non-related parties</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">36</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;5,962,404 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,085,835 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Bank loans</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;4,955,284 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;3,340,237 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Issued debt instruments</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,007,120 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;745,598 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Trade payables</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;7,821,670 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;5,037,635 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Trade payables to related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;240,385 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;61,110 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Trade payables to non-related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">6</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;7,581,285 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;4,976,525 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Payables related to employee benefits</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">22</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;354,375 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;140,630 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Other payables</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,392,209 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,606,940 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Other payables to related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;925 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;4,046 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Other payables to non-related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">8</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,391,284 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,602,894 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Liabilities arising from customer contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;706,046 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;459,289 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Liabilities arising from goods and service sales contracts</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">23</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;706,046 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;459,289 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Derivative instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">35</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;150,923 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;71,325 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Deferred revenue</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;113,402 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;111,136 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Deferred revenue from related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;13,628 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;18,102 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Deferred revenue from non-related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;99,774 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;93,034 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Current tax liability</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">32</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;243,485 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;241,686 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Short-term provisions</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;753,933 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;573,662 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Short-term provisions related to employee benefits</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">20</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;722,063 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;506,641 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Other short-term provisions</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">20</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;31,870 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;67,021 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Other short-term liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,474 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;630 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B><I>TOTAL SHORT-TERM LIABILITIES</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B><I>&nbsp;29,258,764 </I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B><I>&nbsp;17,091,346 </I></B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Long-term Liabilities</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Long-term borrowings</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">36</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37,133,103 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27,929,720 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Long-term borrowings from related parties</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">37</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;84,095 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;54,749 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Bank loans</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Lease obligations</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;84,095 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;54,749 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Issued debt instruments</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Long-term borrowings from non-related parties</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;37,049,008 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;27,874,971 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Bank loans</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;17,945,061 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;13,356,013 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Lease obligations</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,097,859 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,958,061 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Issued debt instruments</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;17,006,088 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;12,560,897 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Trade payables</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;35,258 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Trade payables to related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;938 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Trade payables to non-related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;34,320 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Liabilities arising from customer contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;261,328 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;170,445 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Liabilities arising from goods and service sales contracts</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">23</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;261,328 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;170,445 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Deferred revenue</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;6,095 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;5,838 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Deferred revenue from related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,139 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Deferred revenue from non-related parties</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;6,095 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;4,699 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Long-term provisions</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,758,758 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,230,410 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Long-term provisions related to employee benefits</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">22</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,790,031 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;614,613 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Other long-term provisions</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">20</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;968,727 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;615,797 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Deferred tax liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">32</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;249,835 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;928,554 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Other long-term liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">25</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><I>&nbsp;666,613 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;764,058 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B><I>TOTAL LONG-TERM LIABILITIES</I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B><I>&nbsp;41,110,990 </I></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B><I>&nbsp;31,029,025 </I></B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>TOTAL LIABILITIES</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;70,369,754 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;48,120,371 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes form an integral part of these
consolidated financial statements.</P>

<P STYLE="text-align: center; margin-top: 0; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0">Translated into English from the report originally issued in Turkish</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; padding-right: 5.4pt">
    <P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &#304;LET&#304;&#350;&#304;M H&#304;ZMETLER&#304;
    A.&#350;.</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT
    31 DECEMBER 2022</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>(All amounts are expressed in thousand of Turkish Lira unless otherwise
    stated. Currencies other than Turkish Lira are expressed in thousands unless otherwise stated.)</I></P></TD></TR></TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Audited</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 54%; padding-right: 0pt; padding-left: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>EQUITY</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Notes</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Equity attributable to owners of the parent</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">26</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;30,891,061 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;22,562,025 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Paid in capital</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">26</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,200,000 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,200,000 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Treasury shares (-) </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">26</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(118,399)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(128,057)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Share premiums</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;269 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;269 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Additional capital contributions of shareholders</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;35,026 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Accumulated other comprehensive loss <BR>
&nbsp;&nbsp;&nbsp;that will not be reclassified in profit or loss (-)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(985,578)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(225,892)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Defined benefit plans remeasurement loss (-)</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(985,578)</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(225,892)</I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Accumulated other comprehensive loss<BR>
&nbsp;&nbsp;&nbsp;that will be reclassified in profit or loss (-)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,882,081)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,165,727)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Currency translation reserve</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,876,409 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,036,379 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Hedging reserve</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(2,383,736)</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(1,595,923)</I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-Gain (loss) from cash flow hedges</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;270,905 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(9,746)</I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">
    <P STYLE="font: 8.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>-Loss from net investment hedge on the company
    </I></P>
    <P STYLE="font: 8.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>operating abroad (-)</I></P></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">35</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(2,654,641)</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(1,586,177)</I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Changes in the time value of options</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(1,292,251)</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(1,555,773)</I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">
    <P STYLE="font: 8.5pt Times New Roman, Times, Serif; margin: 0"><I>-Loss from fair value through other comprehensive income </I></P>
    <P STYLE="font: 8.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>financial assets (-)</I></P></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(82,503)</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(50,410)</I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Legal reserves</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">26</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,948,937 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,612,388 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Prior years&rsquo; profit</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">26</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;16,674,720 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;13,202,920 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Net profit for the period</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;11,053,193 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;5,031,098 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Non-controlling Interests </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;3,990 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;247 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>TOTAL EQUITY</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;30,895,051 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;22,562,272 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>TOTAL LIABILITIES</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;101,264,805 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;70,682,643 </B></FONT></TD></TR>
  </TABLE>
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<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes form an integral part of these
consolidated financial statements.</P>

<P STYLE="text-align: center; margin-top: 0; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt/95% Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE YEAR
ENDED 31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: Black 0.5pt solid"><I>(All amounts
are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands unless
otherwise stated.)</I></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Audited</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 54%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Notes</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 19%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>PROFIT OR LOSS SECTION</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Revenue</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">27</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;52,169,979 </FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;34,906,646 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Revenue from finance sector operations</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">27</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,708,508 </FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,013,896 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>TOTAL REVENUE</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;53,878,487 </B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;35,920,542 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Cost of revenue (-)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">27</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(36,148,784)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(24,940,126)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Cost of revenue from finance sector operations (-)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">27</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(639,858)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(289,848)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>TOTAL COST OF REVENUE</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>(36,788,642)</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>(25,229,974)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Gross profit from business operations</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;16,021,195 </FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;9,966,520 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Gross profit from finance sector operations</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,068,650 </FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;724,048 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>GROSS PROFIT</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;17,089,845 </B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;10,690,568 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">General administrative expenses (-)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">28</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,519,021)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(919,023)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Marketing expenses (-)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">28</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(2,700,077)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,778,483)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Other operating income</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">29</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;7,561,993 </FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;7,077,695 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Other operating expenses (-)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">29</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(761,126)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(668,076)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>OPERATING PROFIT</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;19,671,614 </B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;14,402,681 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Investment income</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">30</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,779,890 </FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;464,116 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Impairment losses determined in accordance</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;&nbsp;&nbsp;with TFRS 9 (-)</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(354,918)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(271,162)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Share on (loss)/profit of investments valued</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;by equity method</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(71,416)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;90,090 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>PROFIT BEFORE FINANCIAL INCOME (EXPENSES)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;21,025,170 </B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;14,685,725 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Financial income</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">31</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;210,775 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;3,051,082 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Financial expenses (-)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">31</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(13,699,811)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(13,195,713)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>PROFIT FROM CONTINUING OPERATIONS BEFORE TAXATION</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;7,536,134 </B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;4,541,094 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Tax income from continuing operations</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;3,516,100 </B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;490,184 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Tax expense for the period (-)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">32</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(530,581)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(681,513)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Deferred tax income for the period</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">32</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,046,681 </FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,171,697 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>PROFIT FOR THE PERIOD FROM CONTINUING</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>OPERATIONS</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;11,052,234 </B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;5,031,278 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Distribution of profit for the period</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Non-controlling interests </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(959)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;180 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Owners of the parent</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;11,053,193 </FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;5,031,098 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Earnings per share (TL)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">33</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;5.06 </B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;2.30 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Earnings per share from continuing operations</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;5.06 </FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2.30 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes form an integral part of these
consolidated financial statements.</P>

<P STYLE="text-align: center; margin-top: 0; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0">Translated into English from the report originally issued in Turkish</P>

<!-- Field: Page; Sequence: 29 -->
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    <DIV STYLE="break-before: page; 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">&nbsp;</P>

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

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: Black 0.5pt solid"><I>(All amounts
are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands unless
otherwise stated.)</I></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Audited</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 55%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Notes</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="width: 18%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>PROFIT FOR THE PERIOD</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;11,052,234 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;5,031,278 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Other comprehensive income/(loss)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Items that will not be reclassified to profit or loss</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;(759,582)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;(131,312)</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Defined benefit plans remeasurement loss (-)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">22</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(950,686)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(163,588)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Tax effect of defined benefit plans remeasurement loss</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">32</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;191,104 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;32,276 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Items that will be reclassified to profit or loss</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;(716,354)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;(556,702)</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Currency translation differences related to <BR>
&nbsp;&nbsp;&nbsp;&nbsp;translation of companies operating abroad </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;378,459 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,410,295 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;-Gain from currency translation differences related to <BR>
&nbsp;&nbsp;&nbsp;&nbsp;translation of companies operating abroad </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;378,459 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,410,295 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Loss from fair value through other <BR>
&nbsp;&nbsp;&nbsp;comprehensive income financial assets (-)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">34</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(40,116)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(65,494)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Gain from cash flow hedges</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;439,706 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,909,730 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Reclassification adjustments for cash flow hedge</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">35</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(74,818)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,712,519)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Gain/(loss) from changes in the <BR>
&nbsp;&nbsp;&nbsp;time value of options</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;316,048 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,266,102)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Reclassification adjustments for changes <BR>
&nbsp;&nbsp;&nbsp;in the time value of options </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;13,355 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;81,028 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Loss from net investment hedge <BR>
&nbsp;&nbsp;&nbsp;on the company operating abroad (-)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">35</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,335,580)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(1,558,374)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Taxes based on other comprehensive income that<BR>
&nbsp;&nbsp;&nbsp;will be reclassified to profit or loss</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">32</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(413,408)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(355,266)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;-Tax effect of currency translation differences related to <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;translation of companies operating abroad</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(538,429)</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(861,143)</I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;-Tax effect of loss from fair value through other <BR>
&nbsp;&nbsp;&nbsp;&nbsp;comprehensive income financial assets</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">34</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;8,023</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;13,099</I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;-Tax effect of gain/(loss) from <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;cash flow hedges</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(84,237)</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(55,912)</I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;-Tax effect of gain/(loss) from changes <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in the time value of options</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(65,881)</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;237,015 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;-Tax effect of loss from net investment <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;hedge on the company operating abroad</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">35</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;267,116 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;311,675 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>OTHER COMPREHENSIVE LOSS (-)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;(1,475,936)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;(688,014)</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>TOTAL COMPREHENSIVE INCOME</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;9,576,298 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;4,343,264 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt"><B>Distribution of total comprehensive income for the period</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;9,576,298 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;4,343,264 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Non-controlling interests </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(959)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;76 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 10pt">Owners of the parent</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;9,577,257 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,343,188 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes form an integral part of these
consolidated financial statements.</P>

<P STYLE="text-align: center; margin-top: 0; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0">Translated into English from the report originally issued in Turkish<B>&nbsp;</B></P>

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

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

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

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot; A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0">&#9;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER
2022</P>

<DIV STYLE="margin-right: 0pt; margin-left: 0in; padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated.)</FONT></I></P>

</DIV>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;Accumulated other comprehensive loss that will not be reclassified in profit or loss</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;Accumulated other comprehensive loss that will be reclassified in profit or loss</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Retained Earnings</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt"><B>Audited</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Paid in capital</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 0pt; padding-left: 0pt">
    <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Treasury shares </B></P>
    <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(-) </B></P></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Share premiums</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Additional capital contributions of shareholders</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Defined benefit plans remeasurement (loss)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Gains/(losses) from fair value through other comprehensive income financial assets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Loss from net investment hedge on the company operating abroad</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 0pt; padding-left: 0pt">
    <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Gains/</B></P>
    <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(losses) from cash flow hedges</B></P></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 0pt; padding-left: 0pt">
    <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Changes in the </B></P>
    <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>time </B></P>
    <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>value of options</B></P></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Currency translation reserve</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Legal reserves</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Prior years&rsquo; profit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Net profit for the period</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Equity attributable to owners of the parent</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Non-controlling interests </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 6pt"><B>Equity</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt"><B>Balance at 1 January 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,200,000 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(147,914)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35,026 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94,684)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,985 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(339,478)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(151,045)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(607,714)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487,227 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,009,025 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,154,984 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,237,086 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,784,767 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,784,938 </B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt">Transfers</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">603,363</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">3,633,723</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(4,237,086)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt"><B>Total comprehensive income</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(131,208)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(52,395)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(1,246,699)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>141,299</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(948,059)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>1,549,152</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>5,031,098</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>4,343,188</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>76</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>4,343,264</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt">Net profit for the period</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">5,031,098</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">5,031,098</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">180</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">5,031,278</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt">Other comprehensive income/(loss)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(131,208)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(52,395)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(1,246,699)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">141,299</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(948,059)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">1,549,152</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(687,910)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(104)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(688,014)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt">Dividends (Note 26)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">19,857</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(2,585,787)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(2,565,930)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(2,565,930)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt"><B>Balance at 31 December 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>2,200,000</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(128,057)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>269</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>35,026</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(225,892)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(50,410)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(1,586,177)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(9,746)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(1,555,773)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>2,036,379</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>3,612,388</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>13,202,920</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>5,031,098</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>22,562,025</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>247</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>22,562,272</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt"><B>Balance at 1 January 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>2,200,000</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(128,057)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>269</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>35,026</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(225,892)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(50,410)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(1,586,177)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(9,746)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(1,555,773)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>2,036,379</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>3,612,388</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>13,202,920</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>5,031,098</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>22,562,025</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>247</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>22,562,272</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt">Transfers</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">336,549</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">4,694,549</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(5,031,098)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt"><B>Total comprehensive income</B></FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(759,582)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(32,093)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(1,068,464)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>280,651</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>263,522</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(159,970)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>11,053,193</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>9,577,257</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(959)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>9,576,298</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt">Net profit for the period</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">11,053,193</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">11,053,193</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(959)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">11,052,234</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt">Other comprehensive income/(loss)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(759,582)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(32,093)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(1,068,464)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">280,651</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">263,522</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(159,970)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(1,475,936)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(1,475,936)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt">A change in the ownership interest of a subsidiary without a loss of control</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; vertical-align: middle"><FONT STYLE="font-size: 6pt">(35,026)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">35,026</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt">Acquisition of subsidiary (Note 1)</FONT></TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">4,949</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">4,949</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt">Other changes</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(104)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(104)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(247)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(351)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt">Dividends (Note 26)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">9,658</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(1,257,775)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(1,248,117)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt">(1,248,117)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 6pt"><B>Balance at 31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>2,200,000</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(118,399)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>269</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(985,578)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(82,503)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(2,654,641)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>270,905</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>(1,292,251)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>1,876,409</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>3,948,937</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>16,674,720</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>11,053,193</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>30,891,061</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>3,990</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 6pt"><B>30,895,051</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD>&nbsp;</TD>
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    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt/100% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
<P STYLE="font: 10pt/100% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes form an integral part of these
consolidated financial statements.</P>

<P STYLE="text-align: center; margin-top: 0; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0">Translated into English from the report originally issued in Turkish</P>



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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt/100% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: Black 0.5pt solid"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/97% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Audited</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 59%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; background-color: white; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Notes</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; background-color: white; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>A. CASH FLOWS FROM OPERATING ACTIVITIES</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;25,151,859 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;21,171,108 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>Profit for the Period</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;11,052,234 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;5,031,278 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Profit for the period from continuing operations</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;11,052,234 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;5,031,278 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>Adjustments Related to Reconciliation of Net Profit for the Period</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;19,031,897 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;19,446,607 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for depreciation and amortization</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">13-14-15-16</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;9,289,357 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;7,252,075 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for impairment</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">14-15</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;188,655 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;39,838 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for provisions</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;1,506,510 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;1,247,427 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for interest expenses</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;1,662,617 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;739,943 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Other adjustments related to (profit)/loss reconciliation</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;83,866 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(23,281)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for fair value loss/(gain) from derivative instruments</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">35</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;418,528 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(2,401,053)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for tax income</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">32</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(3,516,100)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(490,184)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for (gain) arising from the disposal of fixed assets</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(114,247)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(109,489)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for fair value (gain) from financial assets</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(863,852)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for retained loss/(gain) of investments valued by equity method</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;71,416 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(90,090)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for unrealized foreign currency translation differences</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;10,305,147 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;13,281,421 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>Changes in Working Capital:</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(3,193,029)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(1,944,725)</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for (increase) in trade receivables</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">6</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(2,576,956)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(998,377)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for (increase) in inventories</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">10</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(17,135)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(56,820)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">(Increase) in Central Bank of the Republic of Turkey account</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(162,593)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">(Increase) in receivables from finance sector operations</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">7</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,439,282)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(200,765)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">(Increase) in other assets related to operations</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">25</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(564,104)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(32,024)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for decrease in other receivables </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">8</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;10,700 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;16,703 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for (increase) in assets arising from customer contracts</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(709,360)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(148,573)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for (decrease) in trade payables</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">6</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;2,095,537 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;11,333 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">(Increase) in prepaid expenses</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(268,247)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(71,359)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for increase in liabilities arising from customer contracts</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;337,640 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;149,900 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Deferred revenue increase/(decrease)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;2,523 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(22,127)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Adjustments for increase in other payables</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">8</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;999,014 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;438,011 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">(Decrease) in other liabilities related to operations</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">25</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(900,766)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,030,627)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>Cash Generated by Operating Activities</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;26,891,102 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;22,533,160 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Interest paid</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(3,087,234)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,822,815)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Tax paid</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(779,655)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(763,103)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Interest received</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;2,127,646 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;1,223,866 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>B. CASH FLOWS FROM INVESTING ACTIVITIES</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(19,647,765)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(10,361,547)</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash outflows due to acquisition of property, plant and equipment</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">14</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(7,216,300)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(5,568,300)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash outflows due to acquisition of intangible assets</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">15</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(6,869,302)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(4,014,234)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash inflows from disposal of property, plant and equipments and intangible assets</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;244,487 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;190,153 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash outflows due to acquisitions to obtain control of subsidiaries</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">3</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(86,703)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash outflows due to additional share acquisition or capital increase of associates and/or joint ventures</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(515,775)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(484,568)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash inflows from sale of shares in other entities or shares in funds or borrowing instruments</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;1,023,116 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;693,322 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash outflows due to acquisition of shares in other entities or shares in funds or borrowing instruments</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,023,124)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,035,421)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Other cash (outflows)/inflows </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(3,937,538)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;238,395 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Change in other cash advances given</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,353,329)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(294,191)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>C. CASH FLOWS FROM FINANCING ACTIVITIES</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;1,760,024 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(3,942,240)</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash inflows from loans</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">39</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;27,656,215 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;13,033,337 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash inflows from issued debt instruments</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">39</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;2,327,594 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;192,157 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash outflows due to loan repayments</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(23,239,784)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(12,496,149)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Dividends paid</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,248,117)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(2,565,930)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash outflows due to issued debt instruments repayments</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,855,088)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(142,157)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash outflows due to payments of lease obligations</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">39</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(2,243,432)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,649,046)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash inflows from derivative instruments</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,102,658 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;1,403,609 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">Cash outflows due to derivative instruments</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(2,740,022)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,718,061)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>CHANGE IN CASH AND CASH EQUIVALENTS BEFORE</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>CURRENCY TRANSLATION RESERVE EFFECT (A+B+C)</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;7,264,118 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;6,867,321 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>D. CURRENCY TRANSLATION RESERVE EFFECT ON</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>CASH AND CASH EQUIVALENTS</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>56,067</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>(107,995)</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>NET INCREASE IN CASH AND CASH EQUIVALENTS (A+B+C+D)</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;7,320,185 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;6,759,326 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>E. CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">5</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;18,619,881 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;11,860,555 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (A+B+C+D+E)</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 8pt">5</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;25,940,066 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;18,619,881 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Translated into English from the report originally issued in Turkish</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>


<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: Black 0.5pt solid"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1</TD><TD STYLE="text-align: justify">ORGANIZATION AND OPERATIONS OF THE COMPANY</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Turkcell &#304;leti&#351;im Hizmetleri Anonim
&#350;irketi (&ldquo;Turkcell - Parent Company&rdquo;) was established on 5 October 1993 in &#304;stanbul and started its activities in
1994. Turkcell's commercial address is registered as Ayd&#305;nevler Mahallesi &#304;n&ouml;n&uuml; Caddesi No:20 K&uuml;&ccedil;&uuml;kyal&#305;
Ofispark Maltepe/&#304;stanbul. The fields of activity of Turkcell (&ldquo;Company&rdquo;) are the works and services envisaged in the
GSM (&ldquo;Global System for Mobile Communications&rdquo;) Pan European Mobile Telephone System tender signed with Republic of Turkey
Ministry of Transport and Infrastructure (&ldquo;the Ministry&rdquo;), and all kinds of telephones, telecommunication and similar services
are activities within the scope of authorization regarding IMT services and infrastructures provided that it is not contrary to the law
of Posta ve Telgraf Te&#351;kilat&#305; A.&#350;. (&ldquo;PTT&rdquo;). As of 31 December 2022, Turkcell's shares are quoted in Borsa &#304;stanbul
A.&#350;. (&ldquo;BIST&rdquo;) and the New York Stock Exchange (&ldquo;New York Stock Exchange&rdquo; - &ldquo;NYSE&rdquo;).</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The company signed a revenue sharing
agreement in 1993 with T&uuml;rk Telekom&uuml;nikasyon A.&#350;. (&ldquo;T&uuml;rk Telekom&rdquo;) and has been made responsible for realizing
a mobile phone system in GSM standards by covering the investment cost within the framework of this agreement. Turkcell signed a license
agreement with the Ministry on 27 April 27, and in accordance with this agreement, it was entitled to obtain a 25-year GSM operating license
(&ldquo;2G License&rdquo;) for a license fee of 500,000 USD.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">In the 3rd Generation tender made by
the Information Technologies and Communication Authority (&ldquo;BTK&rdquo;) for the issuance of four licenses for the authorization of
2000/UMTS services and infrastructures, the company was entitled to receive the A type license, which includes the widest frequency band,
in return for 358,000 Euros (excluding VAT). After the approvals regarding the 3rd Generation License (&ldquo;3G License&rdquo;) were completed, the license
fee was paid and the concession agreement was signed between Turkcell and BTK on 30 April 2009. The contract is valid for 20 years from
the date of signing. Turkcell started to provide services under the contract on 30 July 2009.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Company was entitled to receive a total
of 172.4 MHz frequency for a fee of 1,623,460 EUR (excluding VAT), with the &quot;Authorization Tender for IMT Services and Infrastructures&quot;,
popularly known as (&quot;4.5G License&quot;), held by BTK on 26 August 2015. The IMT Authorization period is until 30 April 2029, and
operators have started the provision of IMT services from 1 April 2016. 2x1.4 MHz wide packages in the 900MHz frequency band and 2 2x5
MHz wide packages in the 2100 MHz frequency band started to be used as of 1 December 2015, and the remaining packages were started to
be used as of 1 April 2016.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Company pays 90% of 15% of monthly
gross sales as treasury share and 10% of 15% of monthly gross sales as universal service contribution to BTK every month. In addition,
the Company pays annual contributions in an amount equal to 0.35% of net revenue to the BTK&rsquo;s expenses and 5% of net revenue to
BTK as a frequency fee (TRx).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: Black 0.5pt solid"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1</TD><TD STYLE="text-align: justify">ORGANIZATION AND OPERATIONS OF THE COMPANY (cont&rsquo;d)</TD></TR></TABLE>
<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.15pt; text-align: justify">As of 31 December 2022, TVF Bilgi
Teknolojileri &#304;leti&#351;im Hizmetleri Yat&#305;r&#305;m Sanayi ve Ticaret Anonim &#350;irketi (&ldquo;TVF BTIH&rdquo;) and IMTIS
Holdings S.a r l. (&ldquo;IMTIS Holdings&rdquo;)'s shares in the Company's capital and voting rights are 26.2% and 19.8% respectively.
53.95% of the Company's shares are still publicly traded in domestic and foreign capital markets (Note 26.1).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">As of 31 December 2022, the main and
ultimate shareholders of the Company are TVF BTIH and T&uuml;rkiye Varl&#305;k Fonu (&ldquo;TVF&rdquo;), respectively. TVF was established
by the Law No. 6741, published in the Official Gazette dated 26 August 2016.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">15% of the total issued shares of Turkcell,
owned by TVF BTIH, have been re-classified as a separate class of Group A Shares (the &ldquo;Group A Shares&rdquo;);</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 3pt 43.1pt; text-align: justify; text-indent: -0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>On Group A shares, to the shareholders;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 3pt 74.7pt; text-align: justify; text-indent: -0.25in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT>Election of five members of the Company's Board of Directors,</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 3pt 74.7pt; text-align: justify; text-indent: -0.25in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;
</FONT>In the election of the chairman of the General Assembly meeting, a voting privilege has been created to give six votes for each
Group A Share,</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 3pt 0.5in; text-align: justify">again, the privilege of nomination
is envisaged on Group A Shares, allowing the shareholders to nominate four candidates to be used in the election of five members of the
Company's Board of Directors,</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 3pt 43.1pt; text-align: justify; text-indent: -0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All shareholders of the Company (including the holders of Group A Shares) are entitled to cast one vote per share on all other
matters submitted to a vote of the Company&rsquo;s shareholders, including the appointment of the residual four members of the board of
directors of the Company (including independent ones);</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 3pt 43.1pt; text-align: justify; text-indent: -0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 3pt 43.1pt; text-align: justify; text-indent: -0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In order for the quorum for the meeting of the Board of Directors to be formed, the participation of at least five members constituting
the majority of the total number of members is required and a decision can be taken with the affirmative votes of at least five members
present at the meeting;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 3pt 43.1pt; text-align: justify; text-indent: -0.5in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>As long as the privileges mentioned above are in effect, as regulated in Article 370 of the Turkish Commercial Code (&ldquo;TCC&rdquo;),
the unlimited power to represent and bind the Company shall be exercised by two members of the Board of Directors, at least one of whom
was elected by the holders of Group A Shares through the use of the privileges mentioned above.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Company&rsquo;s board of directors consists
of a total of nine non-executive members including three independent members as of 31 December 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1</TD><TD STYLE="text-align: justify">ORGANIZATION AND OPERATIONS OF THE COMPANY (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The shareholding structure of the Company as of 31
December 2022 is disclosed in Note 26.1.</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of 31 December 2022, the Company's investments
to its subsidiaries, associates and joint ventures are as follows:</P>

<P STYLE="font: 8pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 44%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Subsidiary Title</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Country</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 38%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Business</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turktell Bili&#351;im Servisleri A.&#350;. <BR>
(&ldquo;Turktell&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Information technology, value added GSM services and entertainment investments</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Superonline &#304;leti&#351;im Hizmetleri A.&#350;. <BR>
(&ldquo;Turkcell Superonline&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Telecommunications</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkcell Sat&#305;&#351; ve Dijital &#304;&#351; Servisleri Hizmetleri A.&#350;. <BR>
(&ldquo;Turkcell Sat&#305;&#351;&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Sales, delivery and digital sales services</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkcell Teknoloji Ara&#351;t&#305;rma ve Geli&#351;tirme A.&#350;. <BR>
(&ldquo;Turkcell Teknoloji&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Research and development</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkcell Gayrimenkul Hizmetleri A.S. <BR>
(&ldquo;Turkcell Gayrimenkul&rdquo;) </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Property investments</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkcell Dijital &#304;&#351; Servisleri A.&#350; <BR>
(&ldquo;Turkcell Dijital&rdquo;) </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Providing advanced product and solutions for digitalization needs of institutions</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkcell Dijital E&#287;itim Teknolojileri A.&#350; <BR>
(&ldquo;Dijital E&#287;itim&rdquo;) (1)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Education technologies</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Atmosware Teknoloji E&#287;itim ve Dan&#305;&#351;manl&#305;k A.&#350;. <BR>
(&ldquo;Atmosware Teknoloji&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Develop software products and services, training software developers</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkcell Enerji &Ccedil;&ouml;z&uuml;mleri ve Elektrik Sat&#305;&#351; Ticaret A.&#350;.&nbsp;&nbsp;<BR>
(&ldquo;Turkcell Enerji&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Electricity energy trade and wholesale and retail electricity sales</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Boyut Grup Enerji Elektrik &Uuml;retim ve &#304;n&#351;aat Sanayi ve Ticaret A.&#350;. (&ldquo;Boyut Enerji&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Renewable energy production</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkcell Finansman A.&#350;. (&ldquo;Turkcell Finansman&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Consumer financing services</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkcell Sigorta Arac&#305;l&#305;k Hizmetleri A.&#350;. (&ldquo;Turkcell Sigorta&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Insurance agency activities</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkcell Dijital Sigorta A.&#350;. (&ldquo;Turkcell Dijital Sigorta&rdquo;) (2)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Digital agency activities</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkcell &Ouml;deme ve Elektronik Para Hizmetleri A.&#350;. <BR>
(&ldquo;Turkcell &Ouml;deme&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Payment services and e-money </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Lifecell Dijital Servisler ve &Ccedil;&ouml;z&uuml;mler A.&#350;&nbsp;&nbsp;<BR>
(&ldquo;Lifecell Dijital Servisler&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Development and providing of digital services and products</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Lifecell Bulut &Ccedil;&ouml;z&uuml;mleri A.&#350;. <BR>
(&ldquo;Lifecell Bulut&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Cloud solutions services and other services </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Lifecell TV Yay&#305;n ve &#304;&ccedil;erik Hizmetleri A.&#350;. <BR>
(&ldquo;Lifecell TV&rdquo;) </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Online radio, television and on-demand streaming services</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Lifecell M&uuml;zik Yay&#305;n ve &#304;letim A.&#350;. <BR>
(&ldquo;Lifecell M&uuml;zik&rdquo;) </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Radio, television and on-demand streaming services</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Kule Hizmet ve &#304;&#351;letmecilik A.&#350;. <BR>
(&ldquo;Global Tower&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Telecommunications infrastructure business</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">LLC UkrTower (&ldquo;UkrTower&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Ukraine</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Telecommunications infrastructure business</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Beltower LLC (&ldquo;Beltower&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Republic of Belarus</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Telecommunications infrastructure business</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">East Asian Consortium B.V. <BR>
(&ldquo;Eastasia&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Netherlands</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Telecommunications investments</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">K&#305;br&#305;s Mobile Telekom&uuml;nikasyon Limited &#350;irketi <BR>
(&ldquo;K&#305;br&#305;s Telekom&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkish Republic of Northern Cyprus</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Telecommunications</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Lifecell Digital Limited &#350;irketi (&ldquo;Lifecell Dijital&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkish Republic of Northern Cyprus</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Telecommunications</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Global Bilgi Pazarlama Dan&#305;&#351;manl&#305;k ve &Ccedil;a&#287;r&#305; Servisi Hizmetleri A.&#350;. (&ldquo;Turkcell Global Bilgi&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Customer relations and human resources management</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1</TD><TD STYLE="text-align: justify">ORGANIZATION AND OPERATIONS OF THE COMPANY (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 41%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Subsidiary Title (cont'd)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Country</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 42%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Business</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">LLC Global Bilgi (&ldquo;Global Ukrayna&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Ukraine</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Customer relations management</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Rehberlik Hizmetleri A.&#350;. (&ldquo;Rehberlik Hizmetleri&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Directory assistance</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Lifecell Ventures Co&ouml;peratief U.A. (&ldquo;Lifecell Ventures&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Netherlands</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Telecommunications investments</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">LLC lifecell (&ldquo;lifecell&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Ukraine</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Telecommunications</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Paycell Limited Liability Company (&ldquo;Paycell LLC&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Ukraine</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Consumer financing services, payment services and e-money</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Paycell Europe GmbH (&quot;Paycell Europe&quot;) (3)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Germany</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Payment services and e-money </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Yaani Digital BV (&ldquo;Yaani&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Netherlands</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Internet search engine and browser services </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">BiP Digital Communication Technologies B.V <BR>
(&ldquo;BiP B.V.&rdquo;) </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Netherlands</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Dijital services, sales of services and products</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">BiP &#304;leti&#351;im Teknolojileri ve Dijital Servisler A.&#350;. <BR>
(&ldquo;BiP A.&#350;.&rdquo;) </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Dijital services, sales of services and products</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Beltel Telekom&uuml;nikasyon Hizmetleri A.&#350;. (&ldquo;Beltel&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Telecommunications investments</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">CJSC Belarusian Telecommunications Network <BR>
(&ldquo;BeST&rdquo;) (4)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Republic of Belarus</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Telecommunications</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Lifetech LLC (&ldquo;Lifetech&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Republic of Belarus</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Information technology, programming and technical support</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkcell Yeni Teknolojiler Giri&#351;im Sermayesi Yat&#305;r&#305;m Fonu (&ldquo;Turkcell GSYF&rdquo;) (5)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Venture capital investment fund</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">W3 Labs Yeni Teknolojiler A.&#350;. (&quot;W3&quot;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Bili&#351;im teknolojileri</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Associate Title</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Country</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Business</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">T&uuml;rkiye&rsquo;nin Otomobili Giri&#351;im Grubu Sanayi ve Ticaret A.&#350;. (&ldquo;TOGG&rdquo;)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Electric passenger car development, production and <BR>
trading activities </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Joint Venture Title</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Country</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Business</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Sofra Kurumsal ve &Ouml;d&uuml;llendirme Hizmetleri A. &#350;. <BR>
(&ldquo;Sofra&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Turkey</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Meal coupons and cards</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/10pt Times New Roman, Times, Serif; margin: 6pt 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/10pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify">(1) Dijital E&#287;itim has been incorparated
respectivelty with the shareholding percentage 51% and 49% by Turkcell Dijital which is fully owned by the Group and &#350;ahinkaya &Ouml;zel
E&#287;itim Kurumlar&#305; A.&#350;. to offer education and communication solutions compatible with new generation technologies. Initial
capital is TL 100 and registration and announcement of the respective company was completed on 11 March 2022.</P>

<P STYLE="font: 8pt/10pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify">(2) Turkcell Dijital Sigorta, in which
fully owned by Turkcell Finansman was established to offer insurance activitites based on digital and innovative technologies and registration
and announcement of the respective Company was completed on 21 June 2022.</P>

<P STYLE="font: 8pt/10pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify">(3) The title of Turkcell Europe GmbH
which is fully owned by the Group has been changed to Paycell Europe GmbH.</P>

<P STYLE="font: 8pt/10pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify">(4) Share Transfer transactions regarding
the purchase of 20% of BeST&rsquo;s shares owned by the Republic of Belarus were completed on 9 December 2022.</P>

<P STYLE="font: 8pt/10pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">(5)
</FONT>In accordance with business model of the Group, Turkcell GSYF has been established by on 28 March 2022 by RE-PIE Portf&ouml;y Y&ouml;netimi
A.&#350;.(&ldquo;RE-PIE) to invest in initiatives that create synergies with the Group's strategic focus areas and also Turkcell contributes.
Turkcell GSYF has been included to the consolidated financial statements as of 30 September 2022 in accordance with the &ldquo;TFRS 10
Consolidated Financial Statements&rdquo;.</P>

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

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Turktell was established to participate in
companies that provide services such as information technology, entertainment and value-added GSM services and to develop, sell and market
these services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1</TD><TD STYLE="text-align: justify">ORGANIZATION AND OPERATIONS OF THE COMPANY (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify"><I><U>Turkcell Superonline</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify">Turkcell Superonline was established to make
and operate the necessary investments for telecommunication services and to undertake the representation of domestic and foreign enterprises
providing these services. In addition, Turkcell Superonline provides international and national public voice transport, private international
leased data lines for corporations, internationally connected internet access services, and develops consumer and corporate Internet service.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify"><I><U>Turkcell Sat&#305;&#351;</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify">Turkcell Sat&#305;&#351; operates in the fields
of telecommunication and information technology products sales, distribution, marketing and information technology services, system integration
and digital business services.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify"><I><U>Turkcell Teknoloji</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify">Turkcell Teknoloji's field of activity
is to develop, produce, mount, install, maintain and repair, operate, buy, sell, rent, lease, and provide consultancy on all kinds of
software and hardware systems in telecommunication, communication, and informatics or for general purposes.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify"><I><U>Turkcell Gayrimenkul</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify">Turkcell Gayrimenkul buys, sells and rents
any real estate on its behalf or on behalf of its customers; was established to make all kinds of constructions on the real estate belonging
to itself or others.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify"><I><U>Turkcell Dijital</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify">Turkcell Digital Business Services operates
in the fields of selling, installing, operating, mounting, and after-sales support, necessary training and operability of all kinds of
digital products, services, services, and devices to institutions.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify"><I><U>Dijital Egitim</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify">The establishment of Dijital Egitim, whose
business subject is the provision of all kinds of education and communication solutions suitable for computer, internet, and new-generation
technologies for educational purposes, was registered and announced on 11 March 2022.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify"><I><U>Atmosware Teknoloji</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify">Atmosware Teknoloji was established in
2021 to develop software products and services and to train software developers.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify"><I><U>Turkcell Enerji</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify">Turkcell Enerji&rsquo;s field of activity
is electrical energy trade, wholesale and retail sales, and established on February 20, 2017. Turkcell Enerji, wholly owned by Turktell,
was granted an electricity supply license by EMRA on 11 May 2017.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify"><I><U>Boyut Enerji</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify">Boyut Enerji&rsquo;s main field of activity
is the establishment, commissioning, and leasing of an electrical power generation facility, electricity generation, and sales of the
generated electrical energy and/or capacity to customers (Note 3).</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify"><I><U>Turkcell Finansman</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 2.5pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell
Finansman was established to provide financing to its customers by providing loans for the purchase of all kinds of goods and services,
within the framework of the Financial Leasing, Factoring and Financing Companies Law No. 6361, and other relevant legislation provisions
and (&ldquo;BRSA&rdquo;) regulations. </FONT>Turkcell Finansman carries out its activities in Turkey through sales points with which it
has signed a General Seller Agreement, as well as internet and telesales channels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1</TD><TD STYLE="text-align: justify">ORGANIZATION AND OPERATIONS OF THE COMPANY (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 14.2pt 4.8pt 0.15pt; text-align: justify"><I><U>Turkcell Sigorta</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">Turkcell Sigorta was established on 19
June 2018 operate insurance agency activities.</P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify"><I><U>Turkcell Dijital Sigorta</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">Turkcell Dijital Sigorta was established
to offer insurance activities based on digital and innovative technologies.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify"><I><U>Turkcell &Ouml;deme</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">Turkcell Odeme was established on 13 June 2000
in Istanbul. Turkcell Payment is authorized to operate as a &quot;payment institution&quot; and &quot;electronic money institution&quot;,
to provide services to mobile users with mobile payment systems, to act as an intermediary for bill payments, an intermediary for money
transfers, and intermediation for card payments.</P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify"><I><U>Lifecell Dijital Servisler </U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">To buy, sell, import and export content
to be presented in electronic environments and to act as an intermediary; to sell the advertising spaces of digital services, to manage
the advertising platform and to mediate the sales of all advertising spaces in the Turkish advertising ecosystem; Providing services in
the cloud playground; was established in 2020 to operate in the field of development of all kinds of digital services and products.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify"><I><U>Lifecell Bulut </U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">Operating under the Lifebox brand, Lifecell
Bulut was established in 2020 to provide services to operator-independent users in the field of cloud computing, where photos, videos,
documents, phone books and music files can be safely stored, and to establish and operate the necessary technological infrastructure and
systems for this purpose. The lifebox transfer product, which offers free and membership-free file transfer within the company, and the
lifebox business product, which offers file storage, transfer and office features over the cloud, are among the products offered to the
field.</P>

<P STYLE="font: 11pt/150% Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify"><I><U>Lifecell TV </U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">Operating under the TV+ brand, Lifecell TV was
established in 2020 to transmit all kinds of audio and visual content to operators-independent users in encrypted, unencrypted digital
and/or analogue media. With different subscription packages, the TV+ platform serves its subscribers on smart phones and tablets with
iOS and Android operating systems, web, smart TV, Apple TV, Android TV and many other devices. It is among its activities to buy, sell,
import, and export the content to be created for the purpose of providing all kinds of audio and video services in the electronic environment
and to mediate these transactions.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify"><I><U>Lifecell M&uuml;zik </U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">Serving under the Fizy brand, Lifecell
Music was established in 2020 to provide on-demand audio and visual broadcasting and transmission over the internet to operator-independent
users.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1</TD><TD STYLE="text-align: justify">ORGANIZATION AND OPERATIONS OF THE COMPANY (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify"><I><U>Global Tower, Kule Ukrayna ve Beltower</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">Global Tower, Kule Ukrayna, and Beltower
were established to operate the infrastructure by renting space in the towers to the telecommunication and media sector, private and public
institutions, and organizations. Global Tower, Kule Ukrayna, and Beltower provide bundle services to its customers with all the necessary
permissions, renting the place and field, making the tower investment, providing medium and low voltage energy and container infrastructure,
and performing periodical maintenance (tower, fence, power line, access road). In addition, Global Tower started to provide end-to-end
closed-circuit satellite services to its customers by purchasing a satellite communication service license from BTK in January 2018. In
this context, satellite communication service solutions are offered to mobile operators, corporate customers and public institutions.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify"><I><U>Eastasia</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">Eastasia was established in the
Netherlands to invest in and operate telecommunications and advanced technology.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify"><I><U>K&#305;br&#305;s Telekom
</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">Kibris Telekom was established
in TRNC to make and operate telecommunication and advanced technology investments.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify"><I><U>Lifecell digital</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">Lifecell digital was established
in TRNC to provide Internet Service Provider service within Kibris Telecom.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify"><I><U>Turkcell Global Bilgi
ve Global Ukrayna</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">Turkcell Global Bilgi and
Global Ukrayna serve as customer experience and human resources management centers.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify"><I><U>Rehberlik Hizmetleri</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">Rehberlik Hizmetleri was established
to provide guidance and value-added services, and to establish and operate infrastructure for these services.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify"><I><U>Lifecell Ventures</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">Lifecell Ventures was established
to offer applications developed by Turkcell to other operators around the world as products and services, and it carries out marketing
activities.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify"><I><U>lifecell</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">lifecell was established in Ukraine to
make and operate telecommunications and advanced technology investments.</P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify"><I><U>Paycell LLC</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">The company named &quot;Paycell
LLC&quot;, which was established in Ukraine by lifecell, whose capital is wholly owned achieved the status of &quot;financial company&quot;
on 21 September 2017. Paycell LLC has loan lending, leasing licenses, and local money transfer licenses to provide its customers with
credit device sales and digital payment services via e-money.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify"><I><U>Paycell Europe</U></I></P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">Paycell Europe was established to continue
the activities of Turkcell Odeme, which operates in the field of digital payment and electronic money in Europe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1</TD><TD STYLE="text-align: justify">ORGANIZATION AND OPERATIONS OF THE COMPANY (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 14.2pt 4.8pt 0.15pt; text-align: justify"><I><U>Yaani</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">All of Yaani's shares were
taken over on 14 May 2019, and the transfer of all assets of the company was completed on 1 June 2020, with the contract signed with Ntent
Inc. Yaani; has indefinite license and usage rights for the Yaani search engine and joined the group to sell and disseminate the search
engine to international markets.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify"><I><U>BiP B.V.</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">BiP B.V. was established on
7 September 2020 to market the BiP application developed by Turkcell to other operators around the world as a product and service.</P>

<P STYLE="font: 11pt/150% Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify"><I><U>BiP A.&#350;. </U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">BiP A.S. offers instant, fast
and secure messaging, audio and/or video calls and video conference services to operator-independent users via applications on their smart
phones or tablet terminals with internet connection. Developing and collecting new services, services and products for consumers for situations
where mobile communication, internet or these two platforms are intertwined are among its activities.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify"><I><U>Beltel</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">Beltel was established to
make and operate telecommunications and advanced technology investments and to participate in investments that provide these services.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify"><I><U>BeST</U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt; text-align: justify">BeST was established in Belarus
to invest in and operate telecommunications and advanced technology.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify"><I><U>Lifetech</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt">Lifetech was established in Belarus to operate in the
fields of programming and consulting.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0 4.8pt 0.15pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 12pt">2.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 12pt">Basis of Presentation</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Statement of Compliance</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The accompanying consolidated financial statements
of the Company have been prepared in accordance with Turkish Financial Reporting Standards (&ldquo;TFRS&rdquo;) promulgated by the Public
Oversight Accounting and Auditing Standards Authority (&ldquo;POA&rdquo;) that are set out in the 5th article of the communiqu&eacute;
numbered II-14.1 &ldquo;Communiqu&eacute; on the Principles of Financial Reporting In Capital Markets&rdquo; (&ldquo;the Communiqu&eacute;&rdquo;)
announced by the Capital Markets Board (&ldquo;CMB&rdquo;) on 13 June 2013 and published in Official Gazette numbered 28676.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The accompanying consolidated financial statements
of the Company have been prepared in accordance with the CMB's &ldquo;Announcement on Financial Statement and Footnote Formats&rdquo;
dated 7 June 2013. The Company has made the necessary adjustments and reclassifications in accordance with the formats specified in the
&ldquo;2022 TFRS Taxonomy&rdquo; and &ldquo;Financial Statement Examples and User Guide&rdquo; published by the POA on 10 October 2022.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Among the equity items, paid-in capital, share
premiums and legal reserves are presented over their amounts in the accounting records.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Company and its subsidiaries registered in
Turkey prepare their accounting records and statutory financial statements in Turkish Lira (&ldquo;TL&rdquo;) in accordance with the principles
and conditions issued by the CMB, the TCC, tax legislation and the Uniform Chart of Accounts issued by the Ministry of Finance. Financial
statements are presented rounded to thousands of TL.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Subsidiaries operating in foreign countries prepare
their statutory financial statements in accordance with the laws and regulations in force in the countries in which they operate and in
the currency valid in the main economic environment (functional currency) in those countries.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The General Assembly is authorized to amend and
approve the consolidated financial statements of the Company. The consolidated financial statements of the Company are approved for publication
by the Board of Directors.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The consolidated financial statements of the Company
for the period ending on 31 December 2022 were approved for publication by the Company's Board of Directors on 9 March 2023.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Preparation of financial statements</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">While preparing the consolidated financial
statements, necessary adjustments and classifications have been made to the amounts determined on the historical cost basis of assets
and liabilities and derivative instruments, which reported with their fair values, in order to make the correct presentation in accordance
with TFRS. The consolidated financial statements of the Company for the year ended 31 December 2022 consist of the Company and its subsidiaries
the Group's associates and joint venture (collectively referred to as the &quot;Group&quot;).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Offsetting</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">When the Group has a legal right to set off
financial assets and liabilities and intends to settle those financial assets and liabilities by netting, or to have the asset recognized
and settle the liability at the same time, the Group presents these financial assets and liabilities with their netted amounts in the
statement of financial position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.1</TD><TD STYLE="text-align: justify">Basis of Presentation (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><I>(i)</I></TD><TD STYLE="text-align: justify"><I>Subsidiaries</I></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Consolidated financial statements include
the financial statements of the companies controlled by the Company and its subsidiaries. Control is provided by the Company and its subsidiaries
by meeting the following conditions:</P>

<P STYLE="font: 12pt/115% Arial Narrow, Helvetica, Sans-Serif; margin: 0 0 6pt 21.25pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Symbol; font-size: 10.5pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10.5pt Symbol; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 5%">&#183;</TD>
  <TD STYLE="width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif">power over the investee, i.e. the investor has existing
  rights that give it the ability to direct the relevant activities (the activities that significantly affect the investee's returns),</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&#183;</TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10.5pt">exposure, or rights, to variable returns from its involvement
with the investee,</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&#183;</TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10.5pt">the ability to use its power over the investee to affect
the amount of the investor's returns.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 12pt/115% Arial Narrow, Helvetica, Sans-Serif; margin: 0 0 0 0; text-align: justify; text-indent: 0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event that a situation or event arises
that may cause any change in at least one of the criteria listed above, the company re-evaluates whether it has control over its investment.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify">The table below shows the total effective
control ratios of all subsidiaries under the direct or indirect control of the Company as of 31 December 2022 and 2021:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 8%; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 44%; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 24%; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>31 December 2022</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 24%; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>31 December 2021</U></B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>(%)</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>(%)</U></B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turktell</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell Superonline</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell Sat&inodot;&scedil;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell Teknoloji</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell Gayrimenkul</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell Dijital</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dijital E&gbreve;itim</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;51</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Atmosware Teknoloji</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell Enerji</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Boyut Enerji</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell Finansman</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell Sigorta</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dijital Sigorta</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell &Ouml;deme</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lifecell Dijital Servisler</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lifecell Bulut</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lifecell TV</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lifecell M&uuml;zik</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Global Tower </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">UkrTower</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Beltower</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Eastasia</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">K&inodot;br&inodot;s Telekom</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lifecell Digital</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify; text-indent: 3.75in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.1</TD><TD STYLE="text-align: justify">Basis of Presentation (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Consolidation principles (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><I>(i)</I></TD><TD STYLE="text-align: justify"><I>Subsidiaries (cont&rsquo;d)</I></TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 8%; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 44%; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 24%; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>31 December 2022</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 24%; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>31 December 2021</U></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>(%)</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>(%)</U></B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell Global Bilgi</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Global Ukrayna</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rehberlik Hizmetleri</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lifecell Ventures</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">lifecell</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paycell LLC</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell Europe</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paycell Europe</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Yaani</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">BiP B.V.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">BiP A.&Scedil;.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Beltel</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">BeST</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;80</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lifetech</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;80</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; text-align: justify; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Turkcell GSYF</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 14.2pt; text-align: center; line-height: 13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><I><U>Changes in
ownership </U></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Changes in the Company's shareholding in
its subsidiaries that do not result in a loss of control are accounted for as equity transactions. The book values of the Company's shares
and non-controlling interests are adjusted to reflect changes in subsidiary shares. The difference between the adjustment for non-controlling
interests and the fair value of the consideration received or paid is accounted for directly in equity as the Group's share. If the Company
loses control of a subsidiary, the profit/loss after sale is is calculated as the difference between i) the sum of the sales price received
and the fair value of the remaining interest and ii) the previous book values of the subsidiary's assets (including goodwill) and liabilities
and non-controlling interests. Amounts previously recognized in equity through other comprehensive income related to the subsidiary are
recorded according to the accounting method to be used on the assumption that the Group has sold the related assets.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The fair value at the date of loss of control
of the investment remaining after the sale of the subsidiary is determined as the fair value in the initial recognition under TFRS 9 &ldquo;Financial
Instruments: Recognition and Measurement&rdquo; (&ldquo;TFRS 9&rdquo;) or, where applicable, the initial recognition cost of an investment
in an entity controlled as an associate or joint operations.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><I>(ii)</I></TD><TD STYLE="text-align: justify"><I>Associates </I></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">&#9;An associate is an entity over which the
Group has significant influence. Significant effectiveness is the power to participate in the decisions of an entity's financial and operational
policies, without having sole or joint control.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">With the acquisition of shares of the associate,
the portion of the purchase price above the fair value of the identifiable assets, liabilities and contingent liabilities of the associate
at the date of acquisition is considered as goodwill.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.1</TD><TD STYLE="text-align: justify">Basis of Presentation (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Consolidation principles (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><I>(ii)</I></TD><TD STYLE="text-align: justify"><I>Associates (cont&rsquo;d)</I></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0pt">Goodwill is included
in the carrying amount of the investment and is reviewed for impairment as part of the investment. The excess of the fair value of the
identifiable assets, liabilities and contingent liabilities of the associate at the date of acquisition is recognized directly in the
profit or loss statement after reassessment.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Under the equity method, an investment in associate
is initially recognized in the consolidated statement of financial position at cost and adjusted thereafter to recognize the Company&rsquo;s
share of the change in the subsidiary's net assets less any impairment. When the Group's share of losses of an associate exceeds the Group's
interest in that associate (which includes any long-term interests that, in substance, form part of the Group's net investment in the
associate), the Group discontinues recognizing its share of further losses. Any additional losses are recognized if the Group is exposed
to any legal or constructive obligation or the Group has made payments on behalf of the associate.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Profits and losses resulting from the transactions
between the Company and its subsidiaries and the Group's associate are eliminated in proportion to the Group's share in the relevant associate.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">TOGG,
in which the Group currently has a share of 23%, was established on 28 June 2018 to develop, produce and trade electric motor vehicles
(31 December 2021: 23%). As of 31 December 2022 and 2021, </FONT>TOGG <FONT STYLE="font-family: Times New Roman, Times, Serif">classified
as investments </FONT>valued by <FONT STYLE="font-family: Times New Roman, Times, Serif">equity method in the consolidated financial statements.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><I>(iii)</I></TD><TD STYLE="text-align: justify">Shares in joint ventures</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">A joint venture is a joint arrangement whereby
the parties that have joint control of the arrangement have rights to the net assets of the joint arrangement. Investments in joint ventures
are accounted for using the equity method from the moment the investee becomes a joint venture.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify">Sofra, in which the Group currently
has a share of 33.3%, is a joint venture between Turkcell &Ouml;deme, BELB&#304;M Elektronik Para ve Da&#287;&#305;t&#305;m Hizmetleri
A.&#350;. and PTT, in which all parties have equal share, was established on 30 July 2018, in order to carry out operations such as service
coupons, meal checks, meal cards, electronic coupons and/or smart cards, transportation machines, smart keys. <FONT STYLE="font-family: Times New Roman, Times, Serif">As
of 31 December 2022 and 2021, </FONT>Sofra <FONT STYLE="font-family: Times New Roman, Times, Serif">classified as investments </FONT>valued
by <FONT STYLE="font-family: Times New Roman, Times, Serif">equity method in the consolidated financial statements.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><I>(iv)</I></TD><TD STYLE="text-align: justify"><I>Consolidation adjustments</I></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify">The statements of financial position and
profit or loss of the companies included in the consolidation are consolidated using the full consolidation method, and the book values
in the Company's assets and their shares in the equity are mutually offset. The parts of the net assets of the subsidiaries corresponding
to the shares outside the direct and/or indirect control of the parent company are classified under the &ldquo;Non-controlling interests&rdquo;
item in the consolidated statement of financial position. Similarly, the parts of the net profits or losses of the subsidiaries corresponding
to the shares outside the direct and/or indirect control of the parent company are classified under the &ldquo;Non-controlling interests&rdquo;
item in the consolidated statement of profit or loss. Intra-group transactions and balances between companies included in the consolidation
are eliminated during consolidation. Profits and losses resulting from transactions between associates and joint ventures and the parent
company and its subsidiaries subject to consolidation are netted off in proportion to the share of the parent in the associate. However,
the losses incurred as a result of these transactions have not been clarified if they show that there has been an impairment in the value
of the asset subject to the transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.1</TD><TD STYLE="text-align: justify">Basis of Presentation (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Consolidation principles (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><I>(v)</I></TD><TD STYLE="text-align: justify"><I>Business combinations under common control</I></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">Business combinations under common control
are outside the scope of TFRS 3 &ldquo;Business Combinations&rdquo; (&ldquo;TFRS 3&rdquo;). In accordance with the decision of the POA
published in the Official Gazette on 17 October 2018, assets and liabilities subject to a business combination under common control are
included in the consolidated financial statements with their carrying values. Statements of profit or loss are consolidated from the first
period in which comparative financial statements are presented and prior period financial statements are restated. Goodwill or negative
goodwill resulting from these transactions is not recognized in the consolidated financial statements. The difference resulting from the
offsetting of the amount of the participation amount and the share in the capital of the acquired company is directly accounted for under
the equity as an equity transaction in the &ldquo;Effect of Business Combinations Under Common Control&rdquo; account.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">e)</TD><TD STYLE="text-align: justify">Adjustment of Financial Statements During High Inflation Periods </TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">POA made an announcement on 20 January 2022 whether
companies that apply TFRS will apply TAS 29 Financial Reporting in Hyperinflationary Economies in the 2021 financial reporting period.
According to this announcement, it is stated that companies that apply TFRS do not need to make any adjustments within the scope of TAS
29 in their financial statements for the year 2021. As of the report date, no new statement has been made by the POA regarding the scope
and application of TAS 29. In this context, while preparing the consolidated financial statements as of 31 December 2022, no inflation
adjustments were made in accordance with TAS 29.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Changes in </FONT>Accounting <FONT STYLE="font-size: 11pt">Policies and
Errors</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Significant changes in accounting policies
and significant accounting errors detected are applied retrospectively and the prior period financial statements are restated. In order
to comply with the presentation of the current period consolidated financial statements, comparative information is reclassified when
deemed necessary and important differences are disclosed.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Changes in </FONT>Accounting <FONT STYLE="font-size: 11pt">Estimates</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">If changes in accounting estimates are
for only one period, changes are applied in the current year but if the estimated changes affect the following periods, changes are applied
both on the current and following periods prospectively. In the current year, there are not any material changes in accounting estimate
methods of the Group.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.4</FONT></TD><TD STYLE="text-align: justify">Summary <FONT STYLE="font-size: 11pt">of Significant Accounting Policies </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Inventories</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories are stated at the lower of cost and net
realizable value. Costs, including some of the fixed and variable overheads, are valued according to the method appropriate to the class
of inventories, and mostly according to the weighted average cost method. Net realizable value represents the estimated selling price
in the ordinary course of business less all estimated costs of completion and costs necessary to make a sale.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">When the net realizable value of inventories falls
below its cost, the inventories are reduced to their net realizable value and charged as an expense to the statement of profit or loss
in the year in which the impairment occurred.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In cases where it is proven that the conditions that
previously caused inventories to be reduced to net realizable value no longer apply or an increase in net realizable value due to changing
economic conditions, the reserve for impairment is reversed.</P>


<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The reversed amount is limited to the
previously allocated impairment amount. <FONT STYLE="font-family: Times New Roman, Times, Serif">As of 31 December 2022 and 2021, inventories
mainly consist of mobile phones, tablets, sim cards, mobile phone accessories, tower construction materials and other electronic products.</FONT></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Property, Plant and Equipment</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Property, plant and equipments are carried at
cost less accumulated depreciation and any accumulated impairment losses. Property, plant and equipments of the Company and its subsidiaries
operating in Turkey and subsidiaries operating in Belarus have been adjusted for the effects of inflation as of 31 December 2005 and 31
December 2014, respectively.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The cost of property, plant and equipments consists
of purchase price, import taxes and non-refundable purchase taxes, expenses incurred to tangible asset for use, and the interest exchange
rate difference expenses incurred on the loans used lto acquire the tangible asset, while the property is in the investment phase.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Changes in the obligation to dismantle the property,
plant and equipment and to restore the site are added to the cost of the property, plant and equipment in the period in which they occur.
If the amount to be deducted from the cost of the property, plant and equipment is greater than the book value of the property, plant
and equipment as of the date of the change, the difference is recorded in the statement of profit or loss in the relevant period.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal"><I>(i)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><I>Subsequent expenses</I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Expenses arising from replacing any part of property,
plant and equipments, together with maintenance and repair costs, can be capitalized if they increase the future economic benefit of the
asset. All other expenses are recognized in the statement of profit or loss on an accrual basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Property, Plant and Equipment (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal"><I>(ii)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><I>Depreciation</I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Depreciation of property, plant and equipment
is calculated using the straight-line depreciation method on the basis of the assets' ready-to-use dates over their useful lives. Leasehold
improvements are depreciated over the shorter of the lease term or useful life, using the straight-line method. The depreciation expenses
calculated in this way are recognized in the cost of revenue item in the consolidated statement of profit or loss. Lands are not depreciated
as their useful life is considered indefinite.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
</FONT>useful <FONT STYLE="font-family: Times New Roman, Times, Serif">lives used by the Group are as follows</FONT>:&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 10%; padding-right: 14.2pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 50%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Mobile network infrastructure</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 20%; padding-right: -0.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">4 - 20 years</FONT></TD>
    <TD STYLE="width: 20%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Fixed network infrastructure</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">3 - 25 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Call center equipment</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">4 - 8 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Buildings </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: -0.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">21 - 25 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Equipment, fixtures and fittings</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">2 - 10 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Motor vehicles</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">4 - 6 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Electricity power plant</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">20 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Leasehold improvements</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -0.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">3 - 5 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Depreciation methods, useful lives and residual
values are reviewed, and adjusted if appropriate, at the end of each reporting period.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal"><I>(iii)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><I>Disposal</I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Gains and losses on disposals are determined
by comparing proceeds with the carrying amount. These are included in profit or loss and their costs and accumulated depreciation are
written off from the relevant accounts.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Intangible Assets</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Intangible
assets consist of GSM and other telecommunication business licenses, brand values, computer software, transmission line software, electricity
generation license, subscriber acquisition costs, indefeasible rights and customer lists. Intangible assets </FONT>are carried at cost
less accumulated depreciation and any accumulated impairment losses. Intangible assets of the Company and its subsidiaries operating in
Turkey and subsidiaries operating in Belarus have been adjusted for the effects of inflation as of 31 December 2005 and 31 December 2014,
respectively.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Intangible Assets (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Purchased computer software and transmission
line software are capitalized over the costs incurred during the purchase and during the period from purchase until they are ready for
use. Costs associated with maintaining computer software are recognized in the statement of profit or loss in the period in which they
are incurred. Expenditures that are directly attributable to identifiable and unique software products controlled by the Group and that
will generate economic benefits in excess of costs for more than one year are recognized as intangible assets. Costs include the costs
of the employees developing the software and some of the manufacturing overheads.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><I>Internally generated intangible assets
- research and development expenses</I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Internally generated intangible assets
consist of computer software and are reported under computer softwares.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Research costs are recorded in the statement of profit
or loss as the cost of sales in the period in which they are incurred.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Internally generated intangible assets resulting
from development activities (or the development phase of an intra-Group project) are capitalized only when all of the following conditions
are met:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 49.6pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">it is technically possible to complete the intangible asset so that it is ready for use or ready
for sale,</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 49.6pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">the intention to complete, use or sell the intangible asset,</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 49.6pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">whether the intangible asset can be used or sold,</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 49.6pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">it is clear how the asset will generate potential future economic benefits,</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 49.6pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">there are appropriate technical, financial and other resources to complete the development of the
intangible asset to use or sell it; and</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 49.6pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">the development cost of the asset can be measured reliably during the development process.</FONT></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The amount of intangible assets generated
internally is the total amount of expenses incurred since the intangible asset meets the above-mentioned recognition conditions. When
internally generated intangible assets do not meet the capitalization conditions, development expenses are recognized as expense in the
period in which they are incurred.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">After
initial recognition, internally generated intangible assets </FONT>are carried at cost less accumulated depreciation and any accumulated
impairment losses<FONT STYLE="font-family: Times New Roman, Times, Serif">, just like intangible assets purchased separately.</FONT></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><I>Indefeasible rights</I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Indefeasible rights are acquired rights
to use part of an asset's capacity for a specified period of time. If the Group has a predetermined capacity usage right on a certain
asset for a period close to the useful life of that asset; these indefeasible rights are reported under intangible assets. Indefeasible
rights are amortized over the shorter of the useful life of the asset or the contract period.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Intangible Assets (cont&rsquo;d)</TD></TR></TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal"><I>(i)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><I>Amortization</I></FONT></TD></TR></TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Amortization of intangible assets is
calculated using the straight-line amortization method on the basis of the assets' ready-to-use dates over their useful lives. The amortization
expenses calculated in this way are recognized in the cost of revenue item in the consolidated statement of profit or loss.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
</FONT>useful <FONT STYLE="font-family: Times New Roman, Times, Serif">lives used by the Group are as follows</FONT>:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 10%; padding-right: -5.6pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 50%; padding-right: 14.2pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">GSM and other telecommunications licenses</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 20%; padding-right: -5.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">3 - 25 years</FONT></TD>
    <TD STYLE="width: 20%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: -5.6pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Indefeasible rights</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -5.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">15 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: -5.6pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Transmission line softwares</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -5.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">5 - 10 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: -5.6pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Computer softwares</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -5.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">3 - 8 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: -5.6pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Brand name</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -5.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">9 - 10 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: -5.6pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Customer base</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -5.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">2 - 15 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: -5.6pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Subscriber acquisition costs</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -5.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">2 - 6 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: -5.6pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 14.2pt; padding-left: 5.4pt"><FONT STYLE="font-size: 11pt">Electricity production license</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: -5.65pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">20 years</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Amortization methods, useful lives and residual
values are reviewed, and adjusted if appropriate, at the end of each reporting period.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Company obtained the 2G, 3G and 4.5G
Licenses with the Concession Agreements signed on 27 April 1998, 30 July 2009 and 26 August 2015, respectively. The terms of use of the
relevant licenses are 25, 20 and 13 years.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal"><I>(ii)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><I>Disposal</I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Gains and losses on disposals are determined
by comparing proceeds with the carrying amount. These are included in profit or loss and their costs and accumulated depreciation are
written off from the relevant accounts.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Investment Properties</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Investment properties are properties held
for the purpose of earning rent and/or capital appreciation and are carried at cost less accumulated depreciation and any accumulated
impairment losses. If it meets the accepted criteria, the cost of replacing any part of the existing investment property is included
in the amount in the statement of financial position. This amount does not include daily maintenance to investment properties.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Investment properties are derecognised
if they are sold or become unusable or it is determined that no future economic benefit will be obtained from the sale. Profit/loss arising
from the expiry of the investment property or its sale is recognized in the statement of profit or loss in the period in which they occur.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Transfers are made when there is a change
in the use of investment property. For a transfer from investment property to owner-occupied property, the estimated cost of post-transfer
recognition is the carrying amount of the property at the date of the change in use. If an owner-occupied property converts to an investment
property, the entity applies the accounting policy applied to property, plant and equipment until the change in use occurs.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">Investment Properties (cont&rsquo;d)</TD></TR></TABLE>

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

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify">Depreciation of investment properties
is calculated using the straight-line depreciation method. The useful life of investment properties is 25 - 45 years.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Impairment of Assets</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group assesses whether there is any indication
that an asset is impaired at the relevant reporting date. If such an indication exists, the recoverable amount of that asset is estimated
and tested for impairment. Goodwill and intangible assets that have an indefinite useful life or are not yet in use are tested for impairment
annually, regardless of whether there is any indication of impairment. The recoverable amount is determined by choosing the higher of
the asset's value in use and its fair value less costs to sell. Fair value is the price that would be received to sell an asset or paid
to transfer a liability in an orderly transaction between market participants at the measurement date. Value in use is the present value
of the expected future cash flows from an asset or cash-generating unit.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">If the carrying value of the asset or any cash
generating unit of that asset is higher than the amount to be recovered through use or sale, an impairment has occurred. For impairment
testing, assets are divided into the smallest units that generate cash inflows from continued use (&ldquo;cash generating unit&rdquo;)
independently of other assets and asset groups.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Goodwill arising in a business combination is
allocated to cash-generating units that are expected to benefit from the synergies of the combination for impairment testing. The impairment
resulting from the cash-generating units is first deducted from the carrying amounts of the goodwill allocated to the units, and then
from the carrying amounts of the other assets in the units. Impairment losses are recognized in the consolidated statement of profit or
loss.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">It is not always necessary to determine
both the asset's fair value less costs to sell and its value in use. If any of these amounts exceeds the carrying amount of the asset,
the asset is not impaired and it is not necessary to estimate the other amount.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">An impairment loss on a receivable is
reversed if the subsequent increase in the recoverable amount of that asset can be attributed to an event that occurs in the periods following
the recognition of the impairment. The impairment loss in assets other than goodwill is reversed if there is a change in the estimates
used in determining the recoverable amount.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The increase in the carrying value of
the asset due to the reversal of the impairment loss should not exceed the carrying amount (net amount after depreciation) that would
have been determined if no impairment loss had been recognized in the financial statements in previous years.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Financial Instruments</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><I>Financial assets - classification and subsequent measurement - measurement
categories:</I></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">According to TFRS 9 Financial Instruments, the classification
and measurement of financial assets is determined according to the business model in which the financial asset is managed and whether
it depends on the contractual cash flows that include only the principal and interest payments on the principal balance.</P>

<P STYLE="font: 11pt/50% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">TFRS 9 includes three main categories of classification
for financial assets: amortized cost (&ldquo;AC&rdquo;), fair value through other comprehensive income (&ldquo;FVTOCI&rdquo;) and fair
value through profit or loss (&ldquo;FVTPL&rdquo;). The Group classifies its financial assets on the date of acquisition.</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Financial assets - Reclassification: </I></P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Financial instruments are reclassified
only when the business model for portfolio management is completely changed. The reclassification has a prospective effect and takes place
from the beginning of the first reporting period following the business model change. The Group did not change its business model and
did not make any reclassification in the current period and the comparison period.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Impairment of financial assets - Credit loss provision
for expected credit losses:</I></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">TFRS 9 replaces the &quot;incurred loss&quot;
model in TAS 39 with the prospective &quot;expected credit loss&quot; (&ldquo;ECL&rdquo;) model. In this context, an important evaluation
was needed on how the economic factors, which will be determined by weighting according to their realization probabilities, affect the
ECLs.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The new impairment model is applied to
financial assets measured at amortized cost or FVTOCI (excluding investments in equity instruments) and contract assets.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">In accordance with TFRS 9, loss provisions
are measured on the following basis;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">12 month ECLs: these are ECLs that result from possible default events within
the 12 months after the reporting date and</FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-size: 11pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Lifetime ECLs: these are ECLs that result from all possible default events
over the expected life of a financial instrument.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/50% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The lifetime ECL measurement is applied
if, at the reporting date, the credit risk associated with a financial asset increases significantly after initial recognition. In all
other cases where the relevant increase was not experienced, the 12-month ECL calculation was applied.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Group may determine that if the credit
risk of the financial asset has a low credit risk at the reporting date, the credit risk of the financial asset has not increased significantly.
However, lifetime ECL measurement (simplified approach) always applies to trade receivables and contract assets without a significant
financing element. The Group has applied the lifetime ECL measurement for all group companies except Turkcell Finansman. Since Turkcell
Finansman is a financing company, it has applied both 12-month and lifetime ECL measurement (general approach).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Financial Instruments (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><I>Financial assets and liabilities &ndash;
derecognition:</I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Group derecognises the financial
asset when its contractual rights to cash flows from the financial asset expire or transfer the related financial asset and all the risks
and rewards of ownership of that asset to another party. In cases where all the risks and rewards of ownership of the asset are not transferred
to another party and control of the asset is retained by the Group, the Group continues to recognize its remaining interest in the asset
and the liabilities arising from that asset. In the event that the Group retains all the risks and rewards of ownership of a transferred
asset, the financial asset continues to be recognized and a collateralized liability amount is also recognized for the income earned against
the transferred financial asset. The Group derecognises financial liabilities only if the contractual obligation ceases, cancels or expires.</P>

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

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Financial assets and liabilities are
carried at fair values without taking into consideration the periods following their retention, the operating costs in the event of a
sale or similar disposal. However, if there is no quoted market price in an active market, it is found using fair value pricing models
or discounted cash flow consumption.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">When discounted cash flow techniques
are used, estimated cash flows are based on Group Management's best estimates and the discount rate used is based on the market rate applicable
to an instrument with similar maturities and conditions at the reporting date. In pricing models, market data valid at the reporting date
is used as a measure.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: left; text-indent: 0pt"><B><I>Cash and
Cash Equivalents</I></B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cash and cash equivalents are cash on hand, demand
deposits and other highly liquid short-term investments with maturities of 3 months or less, easily convertible into cash, and do not
carry a significant risk of impairment. The Group reviews cash and cash equivalents for impairment using the expected credit loss model.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B><I>Sale and Repurchase Agreements </I></B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Securities sold under repurchase agreements
(&ldquo;Repo) are classified in the Company portfolio as &ldquo;fair value differences that recorded as &ldquo;profit or loss&rdquo;,
&ldquo;fair value differences that recorded other comprehensive income&rdquo; or &ldquo;amortized cost&rdquo; portfolios and valued according
to relevent portfolio basis. Securities purchased under aggrements to resell (&ldquo;Reverse Repo&rdquo;) are recorded as cash and cas
equivalents in the balance sheet.&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><B><I>Reserve Deposits with Central Bank
of the Republic of Turkey </I></B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">In
accordance with the &ldquo;Communique Regarding the Reserve Requirements </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">(No:
2013/15)&rdquo; published in</FONT> <FONT STYLE="letter-spacing: -0.1pt">the Official Gazette dated 23 April 2022 and numbered 31818,
the current reserve deposits ratio for assets subject to reserve deposits is determined as 20% as of 31 December 2022. For liabilities
subject to required reserves, the rates applicable for Turkish lira reserve deposits are between 3% and 8% according to the maturity structure;
The applicable rates for FX reserve deposits are between 5% and 21% according to the maturity structure.</FONT></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>
</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Financial Instruments (cont&rsquo;d)</TD></TR></TABLE>

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

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Trade receivables are recognized at their
costs by less provision for permanent impairment. Trade receivables, net of deferred finance income, are calculated by discounting the
amounts to be obtained in the following periods of the receivables recorded from the original invoice value using the effective interest
method. Short-term receivables with no specified interest rate are recognized at their original invoice values, unless the effect of accruing
interest is significant.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group monitors the collectability of its trade
receivables periodically and allocates provision for doubtful receivables for possible losses and overdue trade receivables within the
scope of TFRS 9, based on the collection rates of previous years. Following the provision for doubtful receivables, if all or part of
the doubtful receivable amount is collected, the collected amount is deducted from the doubtful receivable provision and recognized in
the consolidated statement of profit or loss</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B><I>Trade and Other Financial Payables</I></B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Trade and other financial payables are
stated at cost less maturity differences. Trade payables net of deferred finance costs are recognized by discounting the amounts to be
obtained in the following periods from the original invoice value using the effective interest method.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Related parties are persons or companies that are
related to the reporting Group.</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-size: 11pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">A person or a close member of that person&rsquo;s family is related to the
Group if that person:</FONT></TD></TR></TABLE>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 46.2pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 28.9pt"><FONT STYLE="font-size: 11pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">has control or joint control of the Group</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 28.9pt"><FONT STYLE="font-size: 11pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">has significant influence over the Group; or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 28.9pt"><FONT STYLE="font-size: 11pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">is a member of the key management personnel of the Group or of a parent
of the Group.</FONT></TD></TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-size: 11pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">An entity is related to the Group if any of the following conditions applies:</FONT></TD></TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 25.1pt"><FONT STYLE="font-size: 11pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">The entity and the Group are members of the same group (which means that
each parent, subsidiary and fellow subsidiary is related to the others).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 25.1pt"><FONT STYLE="font-size: 11pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">One entity is an associate or joint venture of the other entity (or an associate
or joint venture of a member of a group of which the other entity is a member).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 25.1pt"><FONT STYLE="font-size: 11pt">(iii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Both entities are joint ventures of the same third party.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 25.1pt"><FONT STYLE="font-size: 11pt">(iv)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">One entity is a joint venture of a third entity and the other entity is
an associate of the third entity.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 25.1pt"><FONT STYLE="font-size: 11pt">(v)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">The entity is a post-employment benefit plan for the benefit of employees
of either the Group or an entity related to the Group. If the Group is itself such a plan, the sponsoring employers are also related to
the Group.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 25.1pt"><FONT STYLE="font-size: 11pt">(vi)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">The entity is controlled or jointly controlled by a person identified in
(a).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 25.1pt"><FONT STYLE="font-size: 11pt">(vii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">A person identified in (a) (i) has significant influence over the entity
or is a member of the key management personnel of the entity (or of a parent of the entity).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 25.1pt"><FONT STYLE="font-size: 11pt">(viii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">The entity, or any member of a group of which it is a part, provides key
management personnel services to the reporting entity or to the parent of the reporting entity.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Financial Instruments (cont&rsquo;d)</TD></TR></TABLE>

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

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">A financial liability is recognized initially
at fair value.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Financial liabilities at fair value through
profit or loss are financial liabilities that are classified as held for trading or, at initial recognition, at fair value through profit
or loss by the company. Gain or loss on a financial liability classified as fair value through profit or loss is recognized in the statement
of profit or loss.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Financial liabilities, whose fair value
difference is not recognized in profit or loss, are carried at their fair values, net of transaction costs, on the date they are received.
Subsequently, financial liabilities are stated at amortized cost using the effective interest method. The difference between the amount
remaining after deducting the transaction costs and the amortized cost is recognized in the statement of profit or loss as financing expense
during the loan period. Financing expenses arising from financial liabilities can be included in the cost of qualifying assets if they
are associated with the acquisition and construction of qualifying assets</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">When accounting for the financial instrument
or its components for the first time, the Group makes a classification in accordance with the substance of the arrangements in the contract
and in line with the definitions of financial debt and equity instruments.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B><I>Derivative Instruments and Hedge Accounting</I></B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Derivative instruments are initially
recognized at their acquisition cost, which reflects their fair value at the contract date, and are carried at their fair value in the
following periods. The derivative instruments of the Company mainly consist of structured cross currency swap contracts, cross currency/interest
swap contracts, foreign currency swap contracts and forward foreign currency transactions. Although these derivative instruments provide
an effective protection against risks for the Group, when they do not meet the requirements for hedge accounting, they are accounted for
as derivatives held for trading in the consolidated financial statements and the fair value changes related to them are recognized in
the statement of profit or loss.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The fair values of forward, option, interest
and currency swap transactions are determined by using market interest rates and Central Bank of the Republic of Turkey (&ldquo;CBRT&rdquo;)
exchange rates data on the valuation date, valuation methods and pricing instruments in line with market standards. Fair value if quoted
market values are not available; It is determined by discounting the difference (profit/loss) between the forward price subject to a forward
foreign currency purchase and sale contract and the price of the current exchange rate as of the reporting date, with the risk-free investment
interest rate at the reporting date. The fair value of interest rate and currency swaps is calculated as the difference between the risk-free
investment rate of the parties in the swap cash flow and the CBRT exchange rates and their discounted values. The fair value of option
transactions <FONT STYLE="font-family: Times New Roman, Times, Serif">is determined by using option pricing models.</FONT></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><B><I><BR STYLE="clear: both">
</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Financial Instruments (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B><I>Derivative Instruments and Hedge Accounting
(cont&rsquo;d)</I></B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The recognition of subsequent changes
in the fair value of derivative instruments depends on whether the derivative is designated as a hedging instrument and, if so, on the
nature of the hedged item. The Group designates certain derivatives as hedging instruments based on cash flows and high probability forecast
transactions (cash flow hedges) of recognized assets and liabilities. At the inception of the hedging relationship, the Group documents
the economic relationship between hedging instruments and hedged items, including whether changes in the cash flows of the hedging instruments
are expected to offset changes in the cash flows of the hedged items. The Group documents its risk management objective and strategy for
carrying out hedging transactions. Hedging transactions that fulfill the Group's hedge accounting requirements are recognized as explained
below:</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal"><I>(i)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><I>Fair value hedges</I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The fair value changes of derivative instruments
designated as fair value hedges are recognized in the statement of profit or loss together with the changes in the fair value of the hedged
asset or liability. The change in the fair value of the hedged asset or liability is stated together with the related asset or liability
during the hedge accounting period. In cases where the hedge no longer fulfills the hedge accounting requirements, the adjustments made
to the carrying value of the hedged item are discounted using the effective interest rate method within the time to maturity and recognized
in the statement of profit or loss</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal"><I>(ii)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Cash <FONT STYLE="font-size: 11pt"><I>flow hedges</I></FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">In accordance with TFRS 9 hedge accounting requirements,
the Group determines the transactions that provide hedging against changes in the cash flows of a registered asset or liability or transactions
that can be associated with a certain risk and that are likely to occur at the date of the derivative contract, which may affect profit
or loss due to a certain risk, as cash flow hedges.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Group recognizes gains and losses on effective
cash flow hedges as &ldquo;gains/(losses) on cash flow hedges and changes in the time value of options&rdquo; in equity. In the event
that the hedged commitment or possible future transaction becomes an asset or liability, the gains or losses related to these transactions,
which are recognized as equity items, are taken from these items and included in the acquisition cost or book value of the said asset
or liability. Otherwise, the amounts recognized under equity are transferred to the consolidated statement of profit or loss in the period
in which the hedged possible future transaction affects the consolidated statement of profit or loss and recognized as profit or loss.
Gains or losses related to the effective portion of the change in the intrinsic value of the options are recognized in the cash flow hedge
in equity. Changes in the time value of options related to the hedged item (&ldquo;congruent time value&rdquo;) are recognized in other
comprehensive income and under changes in the time value of options in equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">Financial Instruments (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B><I>Derivative Instruments and Hedge Accounting
(cont&rsquo;d)</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt; font-weight: normal"><I>(ii)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt; font-weight: normal"><I>Cash flow </I></FONT><I><FONT STYLE="font-weight: normal">hedges
<FONT STYLE="font-size: 11pt">(cont&rsquo;d)</FONT></FONT></I></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify">Amounts accumulated in equity in the
period in which the hedged item affects the statement of profit or loss are classified as follows:</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">- If the hedged item subsequently results
in the recognition of a non-financial asset, both the deferred hedge gains and losses and the deferred time value of option contracts
or deferred forward contracts, if any, are included in the initial cost of the asset. Deferred amounts are ultimately recognized in profit
or loss as the hedged item affects profit or loss.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- The gain or loss on the effective portion of hedging
interest rate swaps on floating rate borrowings is recognized in profit or loss at the cost of financing at the same time as the interest
expense on hedged loans.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The effectiveness test model may be qualitative,
depending on the hedging relationship, only if it is applied prospectively. The 80-125% efficiency range in TAS 39 has been replaced by
a target-based test that focuses on the economic relationship between the hedged item and the hedging instrument and the impact of credit
risk on this economic relationship.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">In accordance with TFRS 9 hedge accounting,
the purpose of the hedge accounting model is to ensure that financial reporting more accurately reflects how the Group manages and mitigates
its risks. In particular, it is intended to provide a better link between the risk management strategy, hedging logic and the impact of
hedging transactions. When a hedging instrument expires, is sold or expires, or no longer meets hedge accounting criteria; the cumulative
deferred gain or loss in equity at the relevant time and the deferred costs of hedging and the amounts remaining in equity until the estimated
transaction takes place result in the recognition of a non-financial asset. When the forecast transaction is no longer expected to occur,
the cumulative gain or loss reported in equity and deferred costs of hedging are reclassified to profit or loss.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Under TFRS 9, the hedging relationship ends when
the required criteria are no longer met after rebalancing has been taken into account. Hedge accounting ends when the hedge objective
changes, the hedging instrument expires or is sold, terminated or used, when the economic relationship between the hedging instrument
and the hedged item ceases, or when credit risk affects fair value changes arising from the economic relationship.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">If the Group discontinues hedge accounting
for the cash flow hedge, the accumulated amount of losses or gains on the cash flow hedge is recognized as follows:</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">- If the future cash flows that are hedged
are still expected to occur, this amount remains in the cash flow hedge losses or gains until the future cash flows are realized.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.4</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Summary </FONT>of <FONT STYLE="font-size: 11pt">Significant Accounting Policies
(cont&rsquo;d)</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B><I>Derivative Instruments and Hedge Accounting
(cont&rsquo;d)</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal"><I>(ii)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><I>Cash flow hedges (cont&rsquo;d)</I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">-
</FONT>If a hedging instrument is due, sold, or expires, or does not meet the accounting requirements of a hedge, any deferred gain or
loss accumulated until the forecast transaction is realized and any deferred costs currently accumulated in equity, until the recognition
of a non-financial asset remains in equity. When such a forecast transaction is no longer expected to occur, the cumulative gain or loss
in equity and deferred costs for hedging are immediately reclassified to profit or loss.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal"><I>(iii)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><I>Hedge of net investments in foreign operations</I></FONT></TD></TR></TABLE>

<P STYLE="font: italic 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><FONT STYLE="font-style: normal; font-weight: normal">The
Group has hedged its net investment in a foreign operation with a foreign currency loan. The effective part of the gain or loss arising
from the hedging instrument related to the net investments in the subsidiaries operating in foreign countries is recognized directly in
equity and the ineffective part is recognized in the statement of profit or loss. Tax effects related to translation differences followed
under other comprehensive income are also classified under other comprehensive income (Note 35).</FONT></P>

<P STYLE="font: italic 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><FONT STYLE="font-style: normal; font-weight: normal">The
gain or loss on the hedging instrument that relates to the effective portion of the hedge and is recognized directly in equity is recognized
in profit or loss on the disposal of the foreign operation.</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">Revenue Recognition</TD></TR></TABLE>

<P STYLE="font: italic 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><FONT STYLE="font-style: normal; font-weight: normal">The
Group generally provides telecommunications services. Products and services are sold to customers as individual or multiple products and/or
services under a separate contract. When (or as) a performance obligation is satisfied, the Group recognizes the transaction price corresponding
to that performance obligation as revenue. The transaction price is the amount the entity expects to be entitled in exchange for transferring
the promised goods or services to the customer. An asset is transferred when (or as) control of an asset is transferred to the customer.
Income recorded by the Group as revenue cosists of telecommunications revenues are revenues from postpaid and prepaid lines, revenues
from value-added GSM services including voice, data and short message services, device revenues, call center revenues, financial operation
revenues and other sales revenues (Note 27). If the Group transfers control of a service over time and thus fulfills telecommunication
revenues over time, it recognizes the revenue over time.</FONT></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify">Telecommunication services are also
offered by pricing together with devices, value-added services and/or other services and products. A good or service promised to a customer
is distinct if both of the following criteria are met:</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt 14.2pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)
</FONT>The good or service is capable of being distinct,</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt 14.2pt; text-align: justify">(b) The promise to transfer the
good or service is distinct within the context of the contract.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Device revenues recognized as revenue
where the Group is the prime contractor when significant control and returns on the ownership of the device have been transferred to
the buyer, the amount of revenue and the costs incurred or to be incurred in relation to the sale have been measured reliably, collection
of sales is probable, and the Group has no effective control over the goods sold or when ownership does not maintain a management activity
as generally required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 12pt">2.4</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 12pt">Summary of Significant
                                            Accounting Policies (cont&rsquo;d)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(g)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Revenue </FONT>Recognition <FONT STYLE="font-size: 11pt">(cont&rsquo;d)</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Group, the distributors and dealers
offer joint campaigns to the subscribers which may include the sale of device by the dealer and/or the distributor and the sale of communication
service by the Group. In certain campaigns, dealers make the handset sale to the subscribers, the instalments of which will be collected
by the Group based on the letters of undertaking signed by the subscribers. Based on this undertaking, the dealer assigns the installment
receivable arising from the sale of the device to the distributor, and the distributor to the Group. The Group pays the distributor the
net present value of the instalments to be collected from the subscribers and recognizes contracted receivables in its statement of financial
position. The undue portion of assigned receivables from the distributors which were paid upfront by the Group is classified as &ldquo;undue
assigned contracted receivables&rdquo; in trade receivables. When monthly installment is invoiced to the subscriber, related portion is
presented as &ldquo;receivables from subscribers&rdquo;. The Group collects the contracted receivables in installments during the contract
period and does not recognize any revenue for the handset in these transactions when the Group does not act as principal for the sale
of handset (Note 2.5).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group and distributors started to offer the
option to buy a device through consumer financing loan, which will be collected by Turkcell Finansman. The Group carries a risk of collection
in these transactions. Turkcell Finansman collects the purchased credit from the subscriber during the contract period and does not record
revenue related to the device when it does not act as principal for the sale of device (Note 2.5). Revenue from financial operations comprise
of interest income generated from consumer financing activities. Interest income is recognized as it accrues, using the effective interest
method.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Monthly fixed fees represent a fixed amount charged
to postpaid subscribers on a monthly basis without regard to the level of usage. Fixed fees are recognized on a monthly basis when billed.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.65pt 6.5pt 0; text-align: justify">Call center revenues are revenues from
call center services provided by Turkcell Global Bilgi and Global Ukraine. Call center revenues are recognized at the time services are
rendered during the contractual period.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Volume-related refunds and discounts
in international roaming and other services, and other contractual price changes, are taken into account by the payer and the collector,
when they are likely to be earned and effective. For this reason, contractual returns and discounts are taken into account, but refunds
and discounts at the request of the other party are not taken into account as they do not meet the definitions of assets and liabilities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">&ldquo;Contract Regarding the Addition of Mobile
Broadband Internet Service to the Existing Infrastructure Providing GSM Service and Operation with the Existing Network within the scope
of the Universal Service Law&rdquo; regarding the continuation until 31 December 2021 of the &quot;Contract for the Establishment and
Operation of Mobile Communication Infrastructure in Settlements Without Mobile Coverage Area&quot; signed with the Ministry. Mobile broadband
internet service will be added to the existing infrastructure in the settlements where mobile communication service is provided through
the mobile network infrastructure installed under the first contract, and service will be provided for the operation of the infrastructure
together with the existing network. During the year ending on 31 December 2022, the company earned a revenue of 198,313 TL (31 December
2021: 252,049 TL). This amount is classified under telecommunications revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">Revenue Recognition (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">When the Group sells goods or services as a principal,
revenue and operating costs are recorded on a gross basis. When the Group sells goods or services as an agent, revenue and operating costs
are recorded on a net basis, representing the net margin earned. The Group management decides whether the Group is considered to be acting
as principal or agent in the transaction based on the following indicators:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.65pt 6.5pt 21.3pt; text-align: justify; text-indent: 0pt">a) The company
is primarily responsible for fulfilling the promise to provide the specified good or service,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.65pt 6.5pt 21.3pt; text-align: justify; text-indent: 0pt">b) The company
has inventory risk before the specified good or service has been transferred to a customer ;or after transfer of control to the customer,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.65pt 6.5pt 21.3pt; text-align: justify; text-indent: 0pt">c) The company
has discretion in establishing the price for the specified good or service.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Such judgments impact the amount of reported revenue
and operating costs but do not impact reported assets, liabilities or cash flows. Since the Company acts as principal, revenue and operating
costs related to &ldquo;Contract Regarding the Addition of Mobile Broadband Internet Service to the Existing Infrastructure Providing
GSM Service and Operation with the Existing Network within the scope of the Universal Service Law&rdquo; are reported on a gross basis.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Within the scope of TFRS 15, in the consolidated
financial statements, certain contractual costs in customer/subscriber acquisition are deferred and amortized over the life of the contract
and as the revenue is realized.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">When either party fulfills the contract, the
Group presents the contract as a contract asset or contractual liability in the statement of financial position, depending on the relationship
between the Group's performance and the customer's payment. The Group presents its unconditional rights regarding the price separately
as a receivable. Before the Group transfers a good or service to the customer, if the customer pays the consideration or the Group has
the right to receive the consideration (ie a receivable) unconditionally, the contract is presented as a contractual obligation on the
date the payment is made or the payment is due (whichever is earlier). The contractual obligation is the Group's obligation to transfer
the goods or services to the customer in return for the amount it collects (or is entitled to collect) from the customer. In cases where
the Group performs its performance by transferring goods or services to the customer before the customer pays the price or before the
payment is due, the Group presents the contract as a contract asset (excluding the amounts presented as receivables). A contract asset
is the Group's right to receive consideration for goods or services transferred to the customer. The group assesses the contract asset
for impairment in accordance with TFRS 9. The impairment of a contract asset is measured, presented and disclosed on the same basis as
a financial asset within the scope of TFRS 9</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS <FONT STYLE="font-size: 11pt">OF</FONT> PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">Business Combinations</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">Business combinations are accounted for using
the acquisition method. The consideration transferred in a business combination is measured at fair value, which is calculated as the
sum of the acquisition-date fair values of the assets transferred by the Group, liabilities incurred by the Group to the former owners
of the acquiree and the equity interests issued by the Group in exchange for control of the acquiree. Acquisition-related costs are recognized
in profit or loss as incurred. Identifiable assets acquired and liabilities assumed are accounted for at their fair values at the date
of purchase, with certain exceptions.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">Goodwill is measured as the excess of the
sum of the consideration transferred, the amount of any non-controlling interests in the acquiree (if any), and the fair value of the
acquirer's previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets
acquired and the liabilities assumed.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">When a business combination is achieved
in stages, the Group's previously held equity interest in the acquiree is remeasured to fair value at the acquisition date (i.e., the
date when the Group obtains control) and the resulting gain or loss, if any, is recognized in profit or loss. Amounts arising from interests
in the acquiree prior to the acquisition date that have previously been recognized in other comprehensive income are reclassified to profit
or loss where such treatment would be appropriate if that interest were disposed of.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">The measurement period is the period after
the acquisition date during which the acquirer can adjust the temporary amounts recognized in the business combination. The measurement
period provides the acquirer with a reasonable time frame to allow it to collect the information necessary to determine and measure the
following as of the acquisition date in accordance with the requirements of TFRS, which cannot exceed one year from the acquisition date:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 4.8pt; margin-bottom: 4.8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">identifiable assets acquired, liabilities assumed and, if any, non-controlling interests (minority interests)
in the acquiree;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 4.8pt; margin-bottom: 4.8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">consideration transferred to the acquiree (or other amount used to measure goodwill);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 4.8pt; margin-bottom: 4.8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">equity interests in the acquiree previously held by the acquirer in a business combination accomplished
in stages; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 4.8pt; margin-bottom: 4.8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">Consequential goodwill or gain on bargain purchase.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify"><B>Goodwill</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">Goodwill arising from an acquisition of
a business is carried at cost as established at the date of acquisition of the business less accumulated impairment losses, if any.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">For impairment testing, goodwill is allocated
to the Group's cash-generating units (or groups of cash-generating units) that expect to benefit from the synergies brought about by the
acquisition.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">The cash-generating unit to which the goodwill
is allocated is tested for impairment annually. Where there are indications that the unit is impaired, impairment testing is performed
more frequently. If the cash-generating unit's recoverable amount is less than its carrying amount, the impairment allowance is first
set aside from the goodwill allocated to the unit, then the carrying amount of the assets in the unit is reduced. Impairment provision
for goodwill is recognized directly in the consolidated statement of profit or loss. Provision for impairment of goodwill is not reversed
in subsequent periods.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">On disposal of the relevant cash-generating
unit, the attributable amount of goodwill is included in the determination of the profit or loss on disposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">The Effects of Changes in Foreign Exchange Rates</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">When converting foreign currency transactions
to TL, the Group takes the relevant exchange rates valid at the date of the transaction as a basis. Monetary assets and liabilities in
foreign currencies in the statement of financial position are translated into TL using the exchange rates at the reporting date. Non-monetary
assets and liabilities in foreign currency denominated at their fair values are translated into TL at the exchange rate of the day their
fair value is determined.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Exchange differences are recognized in
profit or loss in the period in which they occur, except as follows:</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exchange differences related to assets under
construction for future use and included in the cost of such assets, treated as an adjustment to interest costs on foreign currency denominated
liabilities,</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exchange differences arising from monetary debts
and receivables from foreign operations that form part of the net investment in foreign operations, recognized in translation reserves
and attributed to profit or loss on the sale of the net investment.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Subsidiaries whose functional currency
is not the currency of a hyperinflationary country are translated into TL at the closing rates as of the reporting date, excluding those
resulting from the assets, liabilities and recognized income and expense of the period. Equity items are translated into TL based on the
exchange rates on the transaction date. Income and expenses recognized in the financial statements during the period are also converted
into TL based on the monthly average exchange rates. All differences resulting from this transaction are shown in &ldquo;Currency Translation
Reserve&rdquo; in equity.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Foreign currency exchange differences
are recognized in equity if they relate to qualifying cash flow hedging instruments and net investment hedging instruments in a foreign
subsidiary or are attributable to a portion of the net investment in a foreign business. Foreign exchange gains and losses are statement
in the statement of profit or loss by netting off under financial income and financing costs.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Earnings</FONT> Per Share</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Earnings per share stated in the consolidated
statement of profit or loss is calculated by dividing the net profit of the parent company shares by the weighted average number of shares
outstanding during the relevant period, excluding the repurchased shares.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Companies in Turkey can increase their
capital by distributing shares (bonus shares) to their existing shareholders from their retained earnings and equity inflation adjustment
differences in proportion to their share in the capital. Such bonus share distributions are treated as issued shares in earnings per share
calculations. Accordingly, the weighted average number of shares used in these calculations is calculated by taking into account the retrospective
effects of the aforementioned share distributions.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Events</FONT> After the Reporting Period</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Events after the reporting period covers
all events between the reporting date and the date the consolidated financial statements are authorized for issue, even if they arise
after any announcement regarding profit or other selected financial information has been made public.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Group adjusts the amounts included
in the consolidated financial statements in accordance with this new situation, in case of occurrence of events requiring adjustment after
the reporting date. Non-adjusting events after the reporting date, if material, are disclosed in the notes to the consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(l)</FONT></TD><TD STYLE="text-align: justify">Provisions<FONT STYLE="font-size: 11pt">, Contingent Assets and Liabilities </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Group Management makes a provision
in the accompanying consolidated financial statements in cases where there is a present legal or constructive obligation arising from
past events, it is probable that an outflow of resources embodying economic benefits will be required to settle this obligation and the
amount of the said obligation can be reliably estimated. Contingent liabilities are evaluated on an ongoing basis to determine whether
it is probable that resources with economic benefits will exit the COmpany. It is disclosed in the notes to the financial statements,
except when the probability of outflow of resources embodying economic benefits is remote. If it becomes probable that economic benefits
will flow into the business, it is disclosed in the notes to the financial statements regarding the contingent asset.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">If it is almost certain that the economic
benefit will flow into the Company, the asset and related income are recognized on the date of the change.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><I>Propert, plant and equipment dismantling,
transportation and restoration obligations</I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Group has obligations for dismantling,
transportation and restoration of property, plant and equipments. Dismantling costs are calculated by discounting the fair future cash
flows determined by reliable estimates to the reporting date with a pre-tax discount rate determined by taking into account the time value
of money and the effects of risks related to the liability in current market conditions.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">Government Grants and Aids</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Government grants and aids are recognized
at their fair values when there is a reasonable assurance that these grants and aids will be received and that the Group meets the conditions
that it is obliged to comply with.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Government grants for costs are recognized
as revenue on a consistent basis over the relevant periods when they match the costs they will cover.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Government grants and aids related to
property, plant and equipments are classified under non-current liabilities as deferred grants and aids and are credited to the statement
of profit or loss by applying straight-line depreciation method over their useful lives. Government grants to cover previously incurred
expenses or losses are recognized in profit or loss when they become collectible.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">Taxes on Corporate Income</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Income tax liability on profit for the
period includes current period tax and deferred tax.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Current period liability includes tax
liability calculated over the taxable portion of the profit for the period with tax rates enacted at the reporting date.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Deferred tax assets or liabilities are
determined by calculating the tax effects of temporary differences between the values of assets and liabilities stated in the financial
statements and the amounts taken into account in the legal tax base calculation, according to the statement of financial position method.
The main temporary differences arise from the recognition of income and expenses in the financial statements and in different reporting
periods according to tax laws, and capitalization, depreciation and amortization differences related to property, plant and equipment
and intangible assets.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(n)</TD><TD STYLE="text-align: justify">Taxes on Corporate Income (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Deferred tax assets or liabilities are recognized
in the accompanying consolidated financial statements at the rate of increase and decrease in the tax amounts to be paid in the future
periods when the temporary differences will disappear (Note 32). A deferred tax asset is recognized when it is probable that tax benefits
will be available in future periods. It is deleted from the relevant asset to the extent that it is understood that this receivable can
no longer be utilized.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Interest and penalties related to current
tax are classified according to their nature in the statement of profit or loss.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Deferred tax assets and liabilities are offset
when there is a legal right to offset current tax assets and liabilities and deferred tax balances are subject to the same tax authority.
Current tax assets and tax liabilities are offset when the entity has a legal right to offset and is settled net, or when it simultaneously
accrues assets and intends to settle liabilities.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Current and deferred tax are recognized
in the statement of profit or loss, except when related to an item recognized in other comprehensive income or directly in equity. In
this case, the tax is also recognized in other comprehensive income or directly in equity, respectively.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Group may be entitled to claim special
tax deductions for its investments in qualifying assets or on qualifying expenditures. The Group recognizes such appropriations as tax
receivables, which means that appropriations reduce income tax payable and current tax expense. A deferred tax asset is carried as an
unclaimed tax receivable.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(o)</TD><TD STYLE="text-align: justify">Employee Benefits/Termination Indemnity</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">According to the laws in force, the Group
is obliged to make a certain lump sum payment to the employees whose employment is terminated due to retirement or for reasons other than
resignation and behaviors specified in the labor law. The said payment amounts are calculated based on the termination indemnity ceiling
valid at the relevant date. Provision for termination indemnity, future liabilities due to retirement of all employees are calculated
according to their net present value and recognized in the accompanying consolidated financial statements. The provision for termination
indemnity has been calculated by an independent actuarial consultancy company using the projected unit credit method.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Payments made for employees leaving the
senior management level are accounted for in other operating expenses.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="text-align: justify">Summary of Significant Accounting Policies (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(p)</FONT></TD><TD STYLE="text-align: justify">Retirement <FONT STYLE="font-size: 11pt">Plans</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Assets related to retirement plans are
kept separately from the Group's consolidated financial statements. The Group's obligation for retirement plans is to pay certain fixed
contributions. Payments made are recognized as expense in the relevant period.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(r)</TD><TD STYLE="text-align: justify">Share Based Payments</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Group has cash-based (cash-paid)
share-based benefit plans for service received from its employees. In the case of share-based payment transactions to be settled in cash,
the relevant liability amount is measured at the fair value of the debt assumed. Until the liability is settled, the fair value of the
liability is remeasured at the end of each reporting period and also at the date of redemption, and any changes in fair value are recognized
in profit or loss. Share-based payment transactions to be settled in cash are subject to the fulfillment of certain vesting conditions.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(s)</TD><TD STYLE="text-align: justify">Employee Bonus Provisions</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Employee bonus provisions are calculated
when the Group has an obligation arising from its legal or constructive acceptance or because the practice has been in existence for a
while, and the Group makes a reliable estimate of this obligation.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(t)</TD><TD STYLE="text-align: justify">Capital</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Ordinary shares are classified in equity.
Costs associated with the issuance of new shares are recognized in equity, less the tax effect, less the amount collected.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(u)</TD><TD STYLE="text-align: justify">Dividend Income</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Dividend income from equity investments
is recognized in the consolidated financial statements when the shareholders' right to receive dividends arises.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">Dividend Payables</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Dividend payables are recognized as a
liability in the consolidated financial statements in the period they are declared as part of the profit distribution.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(y)</TD><TD STYLE="text-align: justify">Interest Income</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Interest income is accrued in the relevant
period based on the effective interest method, which brings the remaining principal balance and estimated cash inflows to the net book
value of the related financial asset during its expected life.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(z)</TD><TD STYLE="text-align: justify">Borrowing Costs</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">In the case of assets that take significant
time to get ready for use or sale, borrowing costs directly attributable to their acquisition, construction or production are included
in the cost of the asset until it is ready for use or sale.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">All other borrowing costs are recognized
in the statement of profit or loss in the period in which they are incurred.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.4</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Summary </FONT>of <FONT STYLE="font-size: 11pt">Significant Accounting Policies
(cont&rsquo;d)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(aa)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Non-</FONT>Current <FONT STYLE="font-size: 11pt">Assets Held for Sale and
Discontinued Operations</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Non-current assets (or disposal groups) are classified
as held for sale when their carrying amount will be recovered through a sale transaction rather than through continuing use and when the
probability of sale is considered high.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">An impairment loss is recognized initially or
later when the value of an asset (or disposal group) is reduced to its fair value less costs to sell. Any subsequent increases in the
fair value of an asset (or a disposal group) are recognized as a gain, provided they do not exceed any accumulated impairment losses previously
recognized.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Gains or losses of an asset (or a disposal group)
that were not previously recognized until the day of sale are recognized as of the day the related asset is derecognised.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">A non-current asset classified as held for sale
and assets in a disposal group classified as held for sale are stated separately from other assets in the statement of financial position.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Discontinued operation is a component of an entity
that either has been disposed of or is classified as held for sale and represents a separate major line of business or geographical area
of operations, or is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations
or is a subsidiary acquired exclusively with a view to resale. Results of discontinued operations are presented separately in the statement
of profit or loss.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(ab)</TD><TD STYLE="text-align: justify">Leases</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">At inception of a contract, the Group assesses
whether a contract is, or contains a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of
an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the
use of an identified asset, The Group assesses whether:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">(a) The contract contains an identified asset;
an asset is usually identified by being explicitly or implicitly specified in the contract.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">(b) A functional portion of the asset is physically
distinct or represents nearly all of the asset's capacity.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">(c) The asset is not defined if the supplier
has a substantive right to substitute the asset and derive economic benefits from it.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">(d) Having the right to derive substantially
all of the economic benefits from the use of the identified asset.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">(e) Having the right to manage the use of the
identified asset. If these decisions are predetermined; the Group has the right to operate the asset or, the Group designed the asset
in a way that predetermines how and for what purpose it is used.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.4</FONT></TD><TD STYLE="text-align: justify">Summary <FONT STYLE="font-size: 11pt">of Significant Accounting Policies (cont&rsquo;d)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(ab)</FONT></TD><TD STYLE="text-align: justify">Leases <FONT STYLE="font-size: 11pt">(cont&rsquo;d)</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">The Group has the right to manage the use of
the asset in the following cases:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><I>i)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">The Group has the right to operate the asset (or direct others to operate
the asset as it determines) throughout the period of use and the supplier does not have the right to change these operating instructions;
or</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><I>ii)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">The Group has designed the asset (or certain features of the asset) to predetermine
how and for what purpose the asset will be used throughout its useful life.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The Group as a Lessee</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B><I>Right-of-use asset</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group recognizes a right-of-use asset and
a lease liability in its financial statements at the commencement date of the lease.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The right-of-use asset is initially recognized
using the cost method and includes:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">(a) Amount of the initial measurement
of the lease liability,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">(b) Any lease payments made at or before
the commencement date, less any lease incentives received,</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">(c) Any initial direct costs incurred
by the Group and</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">(d) An estimate of costs to be incurred
by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying
asset to the condition required by the terms and conditions of the lease, unless those costs are incurred to produce inventories. The
lessee incurs the obligation for those costs either at the commencement date or as a consequence of having used the underlying asset during
a particular period.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">When applying the cost method, the Group measures
the right-of-use asset:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">(a) less accumulated depreciation and
accumulated impairment losses; and</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">(b) at cost adjusted for the remeasurement
of the lease liability.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">While depreciating the right-of-use asset, the
Group applies the depreciation provisions of TAS 16 Property, Plant and Equipments. If the supplier transfers ownership of the underlying
asset to the Group at the end of the lease term, or if the cost of the right-of-use asset indicates that the Group will exercise a call
option, the Group depreciates the right-of-use asset from the date the lease actually began to the end of the useful life of the underlying
asset. In other cases, the Group depreciates the right-of-use asset over the shorter of the asset's useful life or the lease term, starting
from the actual commencement date of the lease.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group applies TAS 36 Impairment of Assets
to determine whether the right-of-use asset is impaired and to recognize any identified impairment losses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.4</FONT></TD><TD STYLE="text-align: justify">Summary <FONT STYLE="font-size: 11pt">of Significant Accounting Policies (cont&rsquo;d)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(ab)</FONT></TD><TD STYLE="text-align: justify">Leases <FONT STYLE="font-size: 11pt">(cont&rsquo;d)</FONT></TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">At the commencement date of the lease, the Group
measures the lease liability at the present value of the lease payments not paid at that date. Lease payments are discounted using the
implied interest rate on the lease, if that rate can be easily determined. If this rate cannot be easily determined, the Group uses its
own alternative borrowing rate.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">At the commencement date of the lease, the lease
payments included in the measurement of the lease liability consist of the following payments for the right to use the underlying asset
during the lease term, which were not paid at the commencement date of the lease:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">(a) the amount obtained by deducting
any lease incentive receivables from the fixed payments;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">(b) variable lease payments based on
an index or rate, initially measured using an index or rate at the commencement date of the lease;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">(c) the exercise price of the call option
if the Group is reasonably confident that it will exercise; and</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">(d) penalties for termination of the
lease if the lease term indicates that the Group will exercise an option to terminate the lease.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">After the actual commencement date of the lease,
the Group measures the lease liability as follows:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 14.2pt; text-align: justify">(a) Increase the carrying amount to
reflect the interest on the lease liability;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 14.2pt; text-align: justify">(b) Reduce its carrying amount to reflect
lease payments made; and</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 14.2pt; text-align: justify">(c) Remeasure book value to reflect
reassessments and restructurings or to reflect revised lease payments that are fixed in substance.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The interest on the lease liability for each period
in the lease term is the amount found by applying a fixed periodic interest rate to the remaining balance of the lease liability. The
periodic rate of interest is the implied rate of interest in a lease, if it can be easily determined. If this rate cannot be easily determined,
the Group uses its own alternative borrowing rate.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">After the lease actually commenced, the Group
remeasures the lease liability to reflect changes in lease payments. The Group recognizes the remeasurement amount of the lease liability
as an adjustment to the right-of-use asset in its financial statements.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group remeasures the lease liability by discounting
the revised lease payments at a revised discount rate if one of the following situations occurs:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">(a) There is a change in the lease term.
The Group determines the revised lease payments based on the revised lease term.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">(b) There is a change in the assessment
of the option to purchase the underlying asset. The Group determines the revised lease payments to reflect the change in the amounts payable
under the option to buy.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Group uses the revised discount rate for the remainder
of the lease term as this rate if the implied interest rate in the lease can be easily determined; If it cannot be determined easily,
it is determined as the alternative borrowing interest rate of the Group at the date of reassessment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.4</FONT></TD><TD STYLE="text-align: justify">Summary <FONT STYLE="font-size: 11pt">of Significant Accounting Policies (cont&rsquo;d)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(ab)</FONT></TD><TD STYLE="text-align: justify">Leases <FONT STYLE="font-size: 11pt">(cont&rsquo;d)</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B><I>Lease obligation (cont&rsquo;d)</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group remeasures the lease liability by discounting
the revised lease payments if one of the following situations occurs:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 14.2pt; text-align: justify">(a) a change in the amounts expected
to be paid under a residual value commitment. The Group determines the revised lease payments to reflect the change in the amounts expected
to be paid under the residual value commitment.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 14.2pt; text-align: justify">(b) a change in those payments as a
result of a change in an index or rate used to determine future lease payments. The Group remeasures the lease liability to reflect those
revised lease payments only when there is a change in cash flows.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group determines the revised lease payments
for the remaining lease term based on the revised contractual payments. The Group then uses an unmodified discount rate.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group recognizes for the restructuring of
the lease as a separate lease if both of the following conditions are met:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 14.2pt; text-align: justify">(a) the restructuring expands the scope
of the lease by adding the right to use one or more of the underlying assets; and</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 14.2pt; text-align: justify">(b) the rental price increases by the
amount of appropriate adjustments to that stand-alone price to reflect the stand-alone price of the increase in coverage and the terms
of the relevant contract.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The Group as a lessor</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group classifies each of the leases as operating
leases or finance leases.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">A lease is classified as a finance lease if substantially
all the risks and rewards of ownership of the underlying asset are transferred, otherwise as an operating lease.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">For a contract that includes a lease component
and one or more additional lease or non-leasing components, the Group allocates the contract price by applying TFRS 15, &ldquo;Revenue
from contracts with customers&rdquo;.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(ac)</FONT></TD><TD STYLE="text-align: justify">Financial <FONT STYLE="font-size: 11pt">Investments</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">If the Group has investments in associates, some
of which are held indirectly through venture capital firms or similar businesses that include funds, investment trusts and investment
insurance funds, the Group can choose to measure this part of the investment in associates as at fair value through profit or loss in
accordance with TFRS 9. In this case, it is not taken into account whether the venture capital institution or similar enterprises covering
the fund, investment trust and investment insurance funds have a significant effect on this part of the investment. The entity makes this
choice separately for each associate or joint venture when recognizing the associate or joint venture for the first time. If the Group
makes such a choice, the equity method is applied to the remainder of the investment in associates that are not held through a venture
capital institution or similar businesses including funds, investment trusts and investment insurance funds (Note 34).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.4</FONT></TD><TD STYLE="text-align: justify">Summary <FONT STYLE="font-size: 11pt">of Significant Accounting Policies (cont&rsquo;d)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(ad)</FONT></TD><TD STYLE="text-align: justify">Financial <FONT STYLE="font-size: 11pt">Risk Management</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Group practice envisages meeting
the needs of the centrally managed Group through capital increase and/or lending in line with predetermined debt/equity ratios. The Group
borrows long and short term according to its financing needs and market forecasts. Different money market products are also evaluated
from time to time, such as debt products, basic commercial bank loans, and bond issuance in order to maintain resource diversity. The
Group determines the fair values of financial and non-financial assets and liabilities in accordance with its accounting policies and
disclosures in the footnotes (Note 2.6).</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">In all borrowing transactions, it is
taken into consideration the Group's credit ratings and basic financial borrowing ratios are not adversely affected.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; margin-bottom: 6.5pt; text-align: justify">The Group is exposed
to the following risks from the use of financial instruments:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6.5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Credit risk</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6.5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Liquidity risk</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6.5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Market risk</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">Note 38 provides information about the
Group's objectives, policies and processes regarding the assessment and management of each of the above risks, and the Group's capital
management.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify">The Group's risk management policies
have been established to identify and analyze the risks faced by the Group, to determine appropriate risk limits and controls, and to
monitor adherence to these limits. Risk management policies and systems are constantly reviewed to reflect the Group's activities and
changes in market conditions.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify"><B>Credit Risk</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">Arises from the failure of a customer or
counterparty to fulfill the terms of the agreement regarding financial instruments, and financial losses that may arise from the Group's
receivables and financial investments constitute credit risk.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">Group management has an existing credit
risk policy to monitor credit risk. The Group can obtain collateral for its financial assets. In addition, the Group requests letters
of guarantee from unrelated parties for certain projects and contracts, and may request mortgages for the loans it has given to provide
financing.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">In order to observe the credit risk arising
from the receivables from the subscribers, the Group divides the subscribers into groups according to the prospective credit loss model,
taking into account the payment terms, the financial difficulties that the Group has experienced before in collection and their aging
profiles. Most of the trade receivables are related to the receivables from the subscribers. The credit risk of the Group's trade receivables
mainly arises from the personal payment characteristics of its postpaid customers.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">Investments are evaluated in liquid financial
instruments. Bank limits are determined by credit ratings given by reliable rating institutions and their paid-in capital. Credit ratings
and paid-in capital amounts are reviewed on a monthly basis.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">Transactions related to derivatives and
similar instruments are carried out with national and international banks with which the Group has signed international contracts and
whose credit ratings are sufficient.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.4</FONT></TD><TD STYLE="text-align: justify">Summary <FONT STYLE="font-size: 11pt">of Significant Accounting Policies (cont&rsquo;d)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(ad)</FONT></TD><TD STYLE="text-align: justify">Financial <FONT STYLE="font-size: 11pt">Risk Management (cont&rsquo;d)</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: justify"><B>Credit Risk (cont&rsquo;d)</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">As of the reporting date, the Group has
no significant credit risk concentrated in a particular party. The Group's maximum exposure to credit risk is reflected by presenting
all financial assets, including derivative instruments, with their carrying values in Note 38 in the consolidated statement of financial
position.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Group makes provision for doubtful
receivables for the balance of trade receivables and contract assets arising from sales of goods and services to show the estimated loss.
This provision has been calculated considering possible collection problems and past experience arising from trade and contract assets
receivables.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">As per its policy, the Group only provides
financial guarantees to its subsidiaries and distributors (Note 21).</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><B>Liquidity risk </B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Liquidity risk is the risk that the Group
will not be able to meet its future financial obligations. The Group's liquidity risk is managed by obtaining sufficient financing opportunities
from various financial institutions in a way that will not harm the Group or damage its reputation, in order to meet its current and potential
debt requirements under normal conditions or in crisis situations. Liquidity risk is managed using sufficient cash and cash equivalents
to cover expected operational expenses, including financial liabilities.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><B>Market risk</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">It is the risk that changes in the money
market, such as exchange rates, interest rates or the prices of instruments traded in the securities markets, will change the Group's
income or the value of its financial assets. Market risk management aims to optimize risk return while controlling exposure to market
risk within acceptable limits. The Group uses derivative financial instruments to manage market risk. All trading transactions are carried
out in accordance with the Group's treasury and risk management policy.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 9pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><I>(i)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><I>Exchange rate risk</I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The Group is exposed to foreign currency
risk due to various income and expense items in foreign currencies such as wholesale income and expenses, some operational expenses, network
costs and foreign currency debts, receivables, financial liabilities arising from them, financial liabilities arising from investment
agreement related to BeST acquisition. The majority of other currencies that the Group carries out transactions consist of the US Dollar,
Euro and Chinese Yuan.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Keeping a large portion of the cash portfolio
in foreign currency is one of the methods used in managing currency risk. In addition, the Group has been a party to various forward contracts,
swap (barter contract) and option contracts in order to control the risk arising from fluctuations in foreign exchange rates, and hedging
accounting has been applied since 1 July 2018 (Note 35). Additional information on the Group's foreign exchange sensitivity is provided
in Note 38.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.5</TD><TD STYLE="text-align: justify">Critical Accounting Judgements, Estimates and Assumptions (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">(ad)</FONT></TD><TD STYLE="text-align: justify">Financial <FONT STYLE="font-size: 11pt">Risk Management (cont&rsquo;d)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 9pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><I>(ii)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><I>Interest rate risk</I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Interest rate risk arises from financial
assets and liabilities. The Group manages its financial liabilities by making an appropriate distribution between fixed and variable-rate
debts. Variable-rate debts can be converted into fixed-rate debts, taking into account the market forecasts, the Group's maturity needs,
and short and long-term interest rate expectations. The use of derivative financial instruments is managed in line with the Group's treasury
and risk policy, in which the written principles regarding the use of derivative financial instruments are approved by the Audit Committee
in accordance with the Group's risk management strategy.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.5</TD><TD STYLE="text-align: justify">Critical Accounting Judgements, Estimates and Assumptions</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The preparation of the consolidated financial
statements in accordance with TFRS requires the Group Management to make certain assessments, estimates and assumptions that will affect
the application of accounting policies and reported items such as assets, liabilities, income and expenses. However, actual results may
differ from the estimates made.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Estimates and assumptions are reviewed periodically.
The effects arising from changes in accounting estimates are taken into account in the current period and in future periods that may be
affected by this estimate.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Estimates and assumptions that may cause significant
adjustments in the carrying values of assets and liabilities in the Company's consolidated financial statements in the next reporting
period are set out below.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B><I>Provision for doubtful trade receivables</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group allocates provision for doubtful receivables
for the estimated losses caused by the inability of its customers and subscribers to make the necessary payments. The Group calculates
provision for doubtful receivables according to the prospective credit loss model. In this context, the loss is weighed according to the
probabilities of realization and it evaluates how economic factors affect the expected credit loss. The provision is revised periodically.
The provision expense calculated for trade and other receivables is calculated over the percentages determined for the aging group in
which the receivable is included and increasing as the receivables age.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B><I>Capitalization and useful lives of assets</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group evaluates the nature of the capitalized
asset for its property, plant and equipment and intangible assets within the scope of TAS 16 and TAS 38 standards, and accordingly, the
related assets are capitalized when they are ready for use.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The residual values and useful economic lives
of the Group's assets are determined by the Group Management at the acquisition date of the asset and are regularly reviewed for appropriateness.
The group determines the useful life of an asset by considering the estimated benefits of that asset. This assessment is based on the
Group's experience with similar assets. When determining the useful life of an asset, the Group also considers the situation when the
assets become technically and/or commercially unavailable as a result of changes or developments in the market. The useful lives of GSM
and other telecommunication business licenses depend on the validity period of the license agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.5</TD><TD STYLE="text-align: justify">Critical Accounting Judgements, Estimates and Assumptions (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0"><B><I>Gross and net presentation of revenue</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">When the Group sells goods or services as a principal,
revenue and operating costs are recorded on a gross basis. When the Group sells goods or services as an agent, revenue and operating costs
are recorded on a net basis, representing the net margin earned. The Group Management decides whether the Group sells goods or services
as a principal or as an agent by analyzing both the legal form and content of the agreements between the Group and its business partners.
Such decisions affect reported revenue and operational expenses; however, it has no impact on reported assets, liabilities and cash flow.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0"><B><I>Contracted handset sales</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Company, distributors and dealers; organizes joint
campaigns for subscribers, where the distributor and/or dealer sells devices, and the Company provides communication services.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The management does not recognize revenue related
to the device by evaluating the following issues:</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 35.45pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company is not the main contractor in device sales,</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 35.45pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company has no control over device sales prices,</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 35.45pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&#183;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company does not have stock risk.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0"><B><I>Multi-element contracts</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">In multi-element contracts where the Group is
the main contractor, each element in the package is considered as separate parts that can be separated from each other if their fair value
can be measured reliably and has a distinct value to the customer, and is recognized separately, provided that the revenue elements of
each have been realized. The total price obtained from the package is distributed to the products and services in proportion to the fair
values of the elements in the package and revenue is recognized.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0"><B><I>Tax expense </I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">In case of any disputes with tax institutions,
tax expense calculation, estimation and evaluations are required for the items whose tax calculation method cannot be determined exactly
until a decision is taken from the relevant authorities or until the end of the legal process.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As part of the preparation of the consolidated
financial statements, the Group is responsible for estimating taxes for each country in which operations are conducted. This process includes
estimating the deferred tax asset or liability by evaluating temporary timing differences calculated from adjustments made for reporting
purposes such as current tax expenses, deferred income and accruals. Group Management records deferred tax assets when they can be deducted
from future taxable income.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">A deferred tax asset is recognized when it is
probable that tax benefits will be available in future periods. Therefore, the separation of the deferred tax receivable depends on the
estimation of the financial performance in the future periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.5</TD><TD STYLE="text-align: justify">Critical Accounting Judgements, Estimates and Assumptions (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B><I>Provisions, contingent assets and liabilities</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As detailed in Note 20, the Group has become a
party to multiple investigations, examinations and lawsuits, both as defendant and plaintiff, within the scope of its ordinary activities
during the period. All these investigations, examinations and lawsuits are reflected in the consolidated financial statements or related
notes by the Group Management by evaluating the paragraph 91 of TAS 37 &ldquo;Provisions, Contingent Liabilities and Contingent Assets&rdquo;
standard. Future results of these investigations, examinations and lawsuits may differ from the Group's assessments. As a result of the
evaluations made under the current conditions as of the reporting date, the Group Management is of the opinion that the necessary information
is presented in the accompanying consolidated financial statements in order to ensure that appropriate accounting criteria and measurement
principles are applied to provisions, contingent liabilities and contingent assets and that financial statement users understand their
nature, timing and amount.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The group annually evaluates whether there is
any indication that an asset is impaired. If such an indication exists, the recoverable amount of that asset is determined by its fair
value less costs to sell.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0"><B><I>Fair value determination process</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Some of the Group's assets and liabilities are
measured at fair value for financial reporting purposes. Observable market information is used whenever possible to measure fair value.
The valuation method and the inputs used in determining the fair value are explained in Note 2.6.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.6</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Fair </FONT>Value <FONT STYLE="font-size: 11pt">Measurement</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4pt 0; text-align: justify">The Group determines the fair values of financial
and non-financial assets and liabilities in accordance with some accounting policies and explanations in the notes. Fair values have been
determined by using the methods stated below for finding the values of financial and non-financial assets and liabilities in the financial
statements and/or explanations in the notes. If necessary, the assumptions used in determining fair values are explained in the related
notes.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: -0.5in"><FONT STYLE="font-size: 11pt"><I>(i)</I></FONT><I><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Investment properties</FONT></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4pt 0; text-align: justify">The fair values of investment properties are calculated
by an independent valuation company authorized by the CMB, with various methods (income approach and market comparison or evaluation of
any or all of these methods together), taking into account the applicability of these methods in the relevant real estates. The value
of investment properties generally differs according to the valuation method.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4pt 0; text-align: justify">For this reason, the valuation company makes an
evaluation with a reasonable method by comparing the valuation results calculated with different methods and the differences. The independent
valuation company estimates the fair value of the investment property reflecting the market conditions at the reporting date, according
to the valuation method used.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: -0.5in"><FONT STYLE="font-size: 11pt"><I>(ii)</I></FONT><I><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Financial investments</FONT></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The fair values of financial investments are determined
based on the selling prices quoted on the stock exchange or on the basis of their market value, which is not quoted in the over-the-counter
exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.6</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Fair </FONT>Value <FONT STYLE="font-size: 11pt">Measurement (cont&rsquo;d)</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: -0.5in"><FONT STYLE="font-size: 11pt"><I>(iii)</I></FONT><I><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Trade and other receivables and receivables from finance sector operations</FONT></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The fair values of receivables from trade, other
and financial sector operations are determined by discounting the present values of future cash flows to the reporting date with market
interest rate.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: -0.5in"><FONT STYLE="font-size: 11pt"><I>(iv)</I></FONT><I><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 11pt">Derivative instruments</FONT></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The fair values of forward, option, interest and
currency swap transactions are determined by using market interest rates and CBRT exchange rates data on the valuation date, valuation
methods and pricing instruments in line with market standards. If quoted market values are not available, the fair value is determined
by discounting the difference (profit/loss) between the forward price of the forward foreign currency contract and the current exchange
rate at the contract maturity, using the risk-free investment interest rate at the reporting date.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The fair value of interest rate and currency swaps
is calculated as the difference between the risk-free investment rate of the legs in the swap cash flow and the CBRT rates and their discounted
values. The fair value of option transactions is determined by using option pricing models.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt"><I>(v)</I></FONT></TD><TD><FONT STYLE="font-size: 11pt"><I>Non-derivative financial liabilities </I></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 6pt"><I></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Fair values stated in the notes are determined
by discounting future cash flows related to principal and interest to the reporting date with market interest rate. Fair values of lease
liabilities are discounted using the implied interest rate on the lease, if it can be easily determined. If this rate cannot be easily
determined, the Group uses its own alternative borrowing rate.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.7</TD><TD STYLE="text-align: justify">New and Amended Standards and Interpretations</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><I>a)</I></TD><TD STYLE="text-align: justify"><I>Standards, amendments and interpretations applicable as at 31 December 2022:</I></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Amendment to TFRS 16, &lsquo;Leases&rsquo; &ndash;
COVID 19 related rent concessions extension of the practical expedient (effective as of 1 April 2021);</B> Due to the COVID 19 pandemic,
some privileges have been provided to lessees in rent payments. In May 2020, with the amendment published in the TFRS 16 Leases standard,
IASB introduced an optional expedient practice for the lessees not to evaluate the concessions granted due to COVID 19 in the lease payments,
whether there is a change in the lease. On 31 March 2021, IASB published an additional amendment to extend the date of expedient implementation
from 30 June 2021 to 30 June 2022. Lessees may choose to account for such lease concessions in accordance with the terms that would apply
in the absence of a lease modification. This ease of application often causes the lease concession to be recognized as a variable lease
payment during periods when the event or condition that triggers the reduction in lease payments occurs.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>A number of narrow-scope amendments to TFRS
3, TAS&nbsp;16, TAS 37 and some annual improvements on TFRS 1, TFRS&nbsp;9, TAS 41 and TFRS 16; effective from Annual periods beginning
on or after 1 January 2022.</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Narrow, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Amendments to TFRS 3 &lsquo;Business
combinations&rsquo;;</B> this amendment updates a reference in TFRS 3 to the Conceptual Framework for Financial Reporting without changing
the accounting requirements for business combinations.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.7</TD><TD STYLE="text-align: justify">New and Amended Standards and Interpretations (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>a)</I></B></TD><TD><B><I>Standards, amendments and interpretations applicable as at 31 December 2022 (cont&rsquo;d):</I></B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Narrow, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Amendments to TAS 16 &lsquo;Property,
plant and equipment&rsquo;;</B> this amendment prohibits a company from deducting from the cost of property, plant and equipment amounts
received from selling items produced while the company is preparing the asset for its intended use. Instead, a company will recognise
such sales proceeds and related cost in profit or loss. </FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Narrow, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Courier New, Courier, Monospace; font-size: 11pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Amendments to TAS 37 &lsquo;Provisions,
contingent liabilities and contingent assets&rsquo;;</B> this amendment specifies which costs a company includes when assessing whether
a contract will be loss-making. </FONT></TD></TR></TABLE>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B><I>b)</I></B></TD><TD><B><I>Standards, amendments and interpretations that are issued but not effective as at 31 December 2022:</I></B></TD></TR></TABLE>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TAS 1, Application Statement 2, and narrow changes
to TAS 8;</B> Effective for annual reporting periods beginning on or after 1 January 2023. These amendments are intended to improve accounting
policy disclosures and help financial statement users distinguish between changes in accounting estimates and changes in accounting policies.</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0 0 0 49.65pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TAS 12, Amendment to deferred tax on assets and
liabilities arising from a single transaction;</B> Effective for annual reporting periods beginning on or after 1 January 2023. These
amendments require deferred tax recognition on transactions that cause equal amounts of taxable and deductible temporary differences when
first recognized by companies.</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0 0 0 49.65pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TFRS 16, Sale and leaseback transactions;</B> Effective
for annual reporting periods beginning on or after 1 January 2024. These amendments include the sale and leaseback requirements in TFRS
16 that describe how an entity accounts for a sale and leaseback transaction after the transaction date. Sales and leaseback transactions
where some or all of the lease payments consist of variable lease payments that are not tied to an index or rate are likely to be affected.</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TAS 1, Amendment to the long-term obligations,
which are the terms of the contract;</B> Effective for annual reporting periods beginning on or after 1 January 2024. These amendments
clarify how conditions that an entity must comply with within twelve months of the reporting period affect the classification of a liability.</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TFRS 17, 'Insurance Contracts', as amended in December
2021; </B>Effective for annual reporting periods beginning on or after 1 January 2023. This standard replaces TFRS 4, which currently
allows for a wide variety of applications. TFRS 17 will fundamentally change the accounting of all entities that issue insurance contracts
and investment contracts with discretionary participation features.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.8</FONT></TD><TD STYLE="text-align: justify">Comparative <FONT STYLE="font-size: 11pt">Information and Revision of Prior Period Financial Statements</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The consolidated financial statements of the Group
are prepared comparatively with the previous period in order to enable the monitor the financial position and performance trends. In order
to comply with the presentation of the current period consolidated financial statements, comparative information is reclassified when
deemed necessary and significant differences are disclosed.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Significant changes in accounting policies
and significant accounting errors are applied retrospectively and prior period financial statements are restated.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">In order to comply with the presentation
of the current period consolidated financial statements, comparative information is reclassified when necessary and significant differences
are disclosed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.8</FONT></TD><TD STYLE="text-align: justify">Comparative <FONT STYLE="font-size: 11pt">Information and Revision of Prior Period Financial Statements
(cont&rsquo;d)</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">In its consolidated financial statements
as of 31 December 2021, the Company has classified the short-term trade receivables from non-related parties amounting to 30,075 TL as
short-term trade receivables from related parties.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The reclassification has no effect on the
consolidated statement of profit or loss and cash flow statement.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">2.9</FONT></TD><TD STYLE="text-align: justify">Developments <FONT STYLE="font-size: 11pt">in the Current Period</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Developments regarding the operations in Ukraine</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The company's subsidiaries Lifecell, UkrTower, Global
LLC and Paycell LLC provide telecommunications services, telecommunications infrastructure management, customer relationship management
and mobile payment services in Ukraine, respectively. The Group's Ukraine operations constitute approximately 8.9% of the consolidated
net sales and 14% of the consolidated non-current assets for the period ended 31 December 2022.</P>

<P STYLE="font: 3pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 3pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">With the start of the Russia-Ukraine war on 24 February
2022, uncertainties have emerged regarding the Group's activities in Ukraine. The impact of this situation on the Group's operations is
closely monitored, and corporate action plans regarding the continuation of operations and the safety and health of Group employees are
updated instantly according to developments. As of the end of December 2022, 92% of the daily average stores across the country are open.
The ratio of telecommunications equipment and revenue generated in the territory currently occupied by Russia to the total Group's telecommunications
equipment and total revenue in Ukraine is at a low level. Banking systems continue to operate in the country. Liquidity is mostly held
in creditor banks, and the cash position is suitable for the continuation of operations. The occupation is not expected to have any impact
on the going concern of the Group. As of 31 December 2022, the network and other equipment in the regions under Russian control and active
military operations and in Ukraine-controlled regions that have not operated for more than 92 days have been impaired. As of 31 December
2022, the amount of impairment recognized in the consolidated financial statements is 214,210 TL. A general impairment assessment has
been made and it has been concluded that there is no need for an impairment test (Note 18).</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3</TD><TD STYLE="text-align: justify">BUSINESS COMBINATIONS</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Company's subsidiary Turkcell Enerji has signed
a Share Transfer Agreement to acquire the entire shares of Boyut Grroup Enerji Elektrik Uretim ve Insaat Sanayi ve Ticaret A.S. (&quot;Boyut
Enerji&quot;) on 6 July 2021. The respective transaction is based on an enterprise value of 29,600 USD. After adjusting for the net debt
of Boyut Enerji, the Group made a payment of 10,972 USD. 500 USD of this amount shall be paid after two-years as from the agreement date.
The control power of Boyut Enerji has transferred to the Group as of 18 August 2021. At the time the financial statements were authorized
for issue, goodwill, identifiable assets and liabilities has been accounted in accordance with TFRS 3, &ldquo;Business Combinations.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The details of the goodwill calculation, total
consideration amount and the net assets acquired are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 80%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 11pt">Total consideration amount</FONT></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 11pt">95,534</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt"><I>-Cash consideration amount</I></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt"><I>92,259</I></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt"><I>-Contingent and deferred consideration amount (Note 25)</I></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt"><I>3,275</I></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt">Net asset acquired</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">(87,123)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt"><B>Goodwill (Note 15-17)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>8,411</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3</TD><TD STYLE="text-align: justify">BUSINESS COMBINATIONS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fair values of identifiable net assests in accordance
with TFRS 3 arising from the acquisition are as follows:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 14.15pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 80%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 11pt">Cash and cash equivalents</FONT></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 11pt">5,556</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt">Other current assets</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">5,737</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt">Property, plant and equipment (Note 14)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">103,933</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt">Intangible assets (Note 15)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">182,881</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt">Other non-current assets</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">166</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt">Borrowings (Note 36)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">(151,892)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt">Trade and other payables</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">(9,233)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt">Deferred tax liabilities (Note 32)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">(48,755)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt">Other liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">(1,270)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt"><B>Fair value of total identifiable net assets (100%)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>87,123</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The details of cash outflow due to acquisition are
as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 80%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 11pt">Total consideration - cash</FONT></TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 11pt">92,259</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt">Cash and cash equivalents - acquired</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt">(5,556)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 11pt"><B>Cash outflow due to acquisition (net)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>86,703</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4</TD><TD STYLE="text-align: justify">SEGMENTAL REPORTING</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">In accordance with its integrated communication
and technology services strategy and economic integrity, Group divides its main business segments into three groups as &ldquo;Turkcell
Turkey&rdquo;, &ldquo;Turkcell International&rdquo; and &ldquo;Techfin&rdquo;. While some of these strategic segments offer the same types
of services, they are regularly review by the chief operating decision maker function according to their resource allocation and performances
because they operate in different geographical locations and are affected by different economic conditions. The chief operating decision
maker function is carried out by the Board of Directors, however Board of Directors may transfer the authorities, other than recognized
by the law, to the General Manager and other directors.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Turkcell Turkey reportable segment includes the
operations of Turkcell, Turkcell Superonline, Turkcell Sat&#305;&#351;&rsquo;s digital business services, Turkcell Dijital, Dijital E&#287;itim,
Turkcell Global Bilgi intra-group operations, Turktell,Atmosware Teknoloji, Turkcell Teknoloji, Global Tower, Rehberlik Hizmetleri, Turkcell
Gayrimenkul, Lifecell Dijital Servisler, Lifecell Bulut, Lifecell TV, Lifecell M&uuml;zik ve BiP A.&#350;.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Turkcell International reportable segment includes
the operations of Lifecell, BeST, K&#305;br&#305;s Telekom, Eastasia, Lifecell Ventures, Beltel, UkrTower, Global Ukrayna, Paycell Europe,
Lifetech, Beltower, Lifecell Digital, Yaani ve BiP B.V.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4</TD><TD STYLE="text-align: justify">SEGMENTAL REPORTING (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Techfin reportable segment includes the operations
of Turkcell Finansman, Turkcell &Ouml;deme, Turkcell Sigorta, Turkcell Dijital Sigorta, Paycell Europe ve Paycell LLC.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Other reportable segment mainly comprises non-Group
call center operations of Turkcell Global, Turkcell Sat&#305;&#351;&rsquo;s other operations, Turkcell Enerji, Boyut Enerji and Turkcell
GSYF&rsquo;s operations.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Information about segments is presented at below.
The Board primarily uses EBITDA (earnings before interest, tax, depreciation and amortization) to assess the performance of the operating
segments. EBITDA is calculated by the Group by adding depreciation and amortization to the net amount of sales revenue, cost of sales,
marketing and general administrative expenses. Reconciliation of EBITDA to the consolidated profit for the period is included in the accompanying
notes.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">EBITDA is not a financial measure defined by TFRS
as a measurement of financial performance and may not be comparable to other similarly-titled indicators used by other companies.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4</TD><TD STYLE="text-align: justify">SEGMENTAL REPORTING (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Turkcell Turkey</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Turkcell International</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Techfin</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Other</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Inter-segment Eliminations </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Consolidated</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 17%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Total segment revenue</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">40,851,070</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">27,223,543</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">6,353,603</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">3,750,081</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,849,132</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,075,742</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">7,042,489</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">4,930,019</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,217,807)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,058,843)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">53,878,487</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">35,920,542</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Inter-segment revenue</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(216,232)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(175,173)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(140,722)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(99,353)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(140,624)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(61,846)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,720,229)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(722,471)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,217,807</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,058,843</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Revenues from <BR>
external customers</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>40,634,838</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>27,048,370</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>6,212,881</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>3,650,728</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,708,508</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,013,896</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>5,322,260</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>4,207,548</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>53,878,487</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>35,920,542</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">EBITDA</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">17,196,783</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">12,167,845</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">3,233,015</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,828,333</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">901,571</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">638,946</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">693,953</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">401,086</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(31,481)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(22,397)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">21,993,841</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">15,013,813</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">TFRS 9 impairment <BR>
loss provision</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(290,933)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(251,870)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(33,577)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(7,785)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(29,538)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(10,436)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(870)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,071)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(354,918)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(271,162)</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4</TD><TD STYLE="text-align: justify">SEGMENTAL REPORTING (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Reconcilations regarding to revenue, EBITDA, assets
and liabilities and other significant items</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 14.2pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 67%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Profit for the year</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;11,052,234 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;5,031,278 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><I>Add/(Less):</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Income tax expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(3,516,100)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(490,184)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other operating income</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(7,561,993)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(7,077,695)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other operating expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;761,126 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;668,076 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Investment income</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(1,779,890)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(464,116)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Finance income</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(210,775)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(3,051,082)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Finance expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;13,699,811 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;13,195,713 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Depreciation, amortization and impairment losses</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;9,478,012 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;7,291,913 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Share of (profit)/loss of equity accounted <BR>
&nbsp;&nbsp;&nbsp;investees</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;71,416 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(90,090)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Consolidated EBITDA</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;21,993,841 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;15,013,813 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 14.2pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 14.2pt 0 0; text-align: justify"><B>&nbsp;</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 67%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Revenue</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Turkey</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">47,665,602</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">32,269,797</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Ukraine</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">4,807,505</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">2,832,145</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Belarus</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">934,675</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">508,289</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Turkish Republic of Northern Cyprus</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">447,039</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">290,498</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">The Netherlands</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">23,666</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">19,813</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;53,878,487 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;35,920,542 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 67%; padding-right: 3.5pt; padding-left: 3.5pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 11pt"><B>Non-Current Asset</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Turkey</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">45,323,207</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">32,577,485</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Ukraine</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">7,678,128</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">7,759,046</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Belarus</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">746,265</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">493,213</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Turkish Republic of Northern Cyprus</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">640,837</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">268,760</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Unallocated non-current assets </FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">69,718</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">72,533</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;54,458,155 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;41,171,037 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5</TD><TD STYLE="text-align: justify">CASH AND CASH EQUIVALENTS</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 and 2021 the details of
cash and cash equivalents are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 53%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Cash in hand </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;359 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;184 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Banks </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;- Demand deposits </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;2,184,052 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;3,045,179 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;- Time deposits </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;20,100,956 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;15,595,648 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;- Receivables from reverse repo </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;3,704,160 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Allowance for impairment </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(28,853)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(12,346)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Cash and cash equivalents </FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;25,960,674 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;18,628,665 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of 31 December 2022, the average effective interest rates of TL, USD, EUR and RMB time deposits are 22.8%</FONT><FONT STYLE="background-color: white">,
2.4%, 2.6% and 0.3% (31 December 2021</FONT>: <FONT STYLE="font-family: Times New Roman, Times, Serif">27.7%</FONT><FONT STYLE="background-color: white">,
1.3%, 0.5% and 0.3%) respectively</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">. As of 31 December 2022, average maturity
of time deposits is 22 days (31 December 2021: 29 days). </FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of 31 December 2022, the effective interest rates
of USD and EUR receivables from reverse repo are 3.0% and 2.8% respectively. As of 31 December 2022, average maturity of receivables from
reverse repo is 23 days.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of 31 December 2022, the net amout of cash and
cash equivalents is 25,940,066 TL excluding the interest income accrual amounting to 20,608 TL.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6</TD><TD STYLE="text-align: justify">TRADE RECEIVABLES AND PAYABLES</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 and 2021 the details of
current trade receivables from non-related parties are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 53%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 23%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Receivables from subscribers </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;4,463,294 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;3,175,200 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Trade receivables and cheques received </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;2,303,696 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,137,499 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Undue assigned contracted receivables </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;518,184 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;467,693 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Provisions for doubtful receivables </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(620,111)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(623,538)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;6,665,062 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;4,156,854 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 14.2pt 6pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify">The undue assigned contracted receivables
are the remaining portion of the assigned receivables from the distributors related to the handset campaigns which will be collected from
subscribers by the Company in installments.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify">When the monthly installment is billed to
the subscriber, that portion is transferred to &ldquo;Receivables from subscribers&rdquo;. The Group measures the undue assigned contracted
receivables at amortized cost.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The significant part of trade receivables and
notes receivables represent receivables from distributors and receivables from customers and roaming receivables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6</TD><TD STYLE="text-align: justify">TRADE RECEIVABLES AND PAYABLES (cont&rsquo;d)</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of 31 December 2022, </FONT>the undue assigned contracted receivables related to handset campaigns, which will be billed after one year
amounted to <FONT STYLE="font-family: Times New Roman, Times, Serif">198,628 </FONT>TL (31 December 2021: <FONT STYLE="font-family: Times New Roman, Times, Serif">169,570
</FONT>TL) is recognized under non-current trade receivable amounted to <FONT STYLE="font-family: Times New Roman, Times, Serif">298,759
</FONT>TL (31 December 2021: <FONT STYLE="font-family: Times New Roman, Times, Serif">256,442 </FONT>TL). <FONT STYLE="font-family: Times New Roman, Times, Serif">Provision
for long-term doubtful trade receivables is 514 TL (31 December 2021: 725 TL).</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 and 2021, movements of
allowance for doubtful trade receivables from non-related parties and other assets <FONT STYLE="font-family: Times New Roman, Times, Serif">are
are as follows:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 36%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Trade Receivables</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Other Assets</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Opening balance</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;624,263 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;13,387 </FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;637,650 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Period charge</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;495,911 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;27,714 </FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;523,625 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Translation differences</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;40,311 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;362 </FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;40,673 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Receivables written off</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(340,514)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(49)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(340,563)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Amounts collected</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(199,346)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(5)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(199,351)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Closing balance</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;620,625 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;41,409 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;662,034 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Trade Receivables</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Other Assets</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Opening balance</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;618,708 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;8,672 </FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;627,380 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Period charge</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;455,461 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;4,250 </FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;459,711 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Translation differences</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;50,661 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;528 </FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;51,189 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Receivables written off</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(300,377)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(28)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(300,405)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Amounts collected</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(200,190)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(35)</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(200,225)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Closing balance</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;624,263 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;13,387 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;637,650 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 3pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 and 2021, the detail of
short-term trade payables to non-related parties are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 58%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Trade payables</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;6,898,412 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;4,615,606 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Accrued selling and marketing expenses </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;192,500 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;74,214 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;490,373 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;286,705 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;7,581,285 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;4,976,525 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Trade payables arises from the ordinary course
of business.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accrued selling and marketing expenses mainly result
from services received from non-related parties related to the selling and marketing activities of the Group, but not yet invoiced.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7</TD><TD STYLE="text-align: justify">RECEIVABLES FROM FINANCE SECTOR OPERATIONS</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 65%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Current receivables from finance sector operations </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">3,276,788</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">2,014,626</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 65%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Non-current receivables from finance sector operations </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">285,138</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">137,559</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Receivables from finance sector operations consist
of contractual assignment receivables from subscribers regarding Turkcell Finansman's consumer financing activities, receivables of Turkcell
&Ouml;deme and Paycell LLC regarding payment services and electronic money services and Turkcell Sigorta's receivables related to insurance
agency services. These receivables are recognized at amortized cost using the effective interest rate method.</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 61%; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; font: 12pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 11pt"><B>Provision for credit loss:</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 19%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 19%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;General provisions </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">89,917</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">92,094</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Movements of provision for doubtful receivables
from finance sector operations are as follows at 31 December 2022 and 2021:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Opening balance </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;92,094 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;154,548 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Period charge </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;88,410 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;66,678 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Disposal </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(58,869)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(56,000)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Receivables transferred by <BR>
&nbsp;&nbsp;&nbsp;&nbsp;receivable transfer contract (*) </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(31,718)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(73,132)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Closing balance </FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>89,917</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>92,094</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify">(*) Turkcell Finansman signed a transfer
of claim agreement in 2022 with a debt management company to transfer some of its doubtful receivables stemming from the years 2016 and
2021. Transferred doubtful receivables comprise of balances that Turkcell Finansman started legal proceedings for as well as procedings
without legal cases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8</TD><TD STYLE="text-align: justify">OTHER RECEIVABLES AND PAYABLES</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 and 2021, the detail of
current other receivables from non-related parties are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Receivables from Evrensel project </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;137,734 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;306,806 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Deposits and guarantees given </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;3,198 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;3,666 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Receivables from tax office </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,904 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;12,276 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Other </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;2,753 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;8,585 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;145,589 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;331,333 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Non-current other receivables</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 and 2021, the detail of
non-current other receivables from non-related parties are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 19%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 19%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Deposits and guarantees given</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;374,454 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;162,921 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,240 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;59 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;375,694 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;162,980 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Short-term other payables</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 and 2021, the detail of
short-term other payables from non-related parties are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other taxes and other deductions payable</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,381,243 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;930,879 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Accrued treasury share, Universal Service Fund and <BR>
&nbsp;&nbsp;&nbsp;&nbsp;contributions to the BTK&rsquo;s expenses&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;986,508 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;652,028 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;23,533 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;19,987 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;2,391,284 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;1,602,894 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9</TD><TD STYLE="text-align: justify">ASSETS ARISING FROM CUSTOMER CONTRACTS</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Current assets arising from customer contracts
</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 62%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Contract assets from sale of goods and services contracts </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,888,942 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,180,236 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Non-current assets arising from customer contracts</B></P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 62%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Contract assets from sale of goods and services contracts </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;67,054 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;67,505 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">The contract assets represent contract
assets from subscribers. Billing periods differ because of high number of subscribers. Revenue is accrued for services rendered but not
billed at the end of each reporting period. Contract assets also include contracted receivables related to handset campaigns, and the
portion which will be billed after one year is recognized under non-current contract assets.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Movements of allowance for doubtful assets
arising from goods and service sales contracts are as follows at 31 December 2022 and 2021:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 62%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Opening balance </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;6,241 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;5,243 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Charge for the period </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,105 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;998 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Closing balance </FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>7,346</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>6,241</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10</TD><TD STYLE="text-align: justify">INVENTORIES</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-weight: normal">As of 31 December
2022, inventories amounting to 277,670 TL which consist of mainly mobile phone and its accessories, tablet, sim-cards and tower construction
materials (31 December 2021: 260,535 TL).</FONT></P>

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

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11</TD><TD STYLE="text-align: justify">PREPAID EXPENSES AND DEFERRED REVENUE</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Short-term prepaid expenses to non-related parties
amounting to 468,306 TL (31 December: 264,630 TL) mainly consist of other prepaid expenses amounting to 367,458 TL (31 December: 167,678
TL) and the advances given amounting to 100,848 TL (31 December 2021:96,952 TL) as of reporting date. A significant portion of other prepaid
expenses mainly consists of short-term sponsorship and insurance expenses.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0"><B>Long-term Prepaid Expenses </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Long-term prepaid expenses to non-related parties
amounting to 2,423,644 TL (31 December 2021:1,009,239 TL) mainly consist of advances given for fixed asset acquisition amounting to 2,208,819
TL (31 December 2021: 855,490 TL), other prepaid expenses amounting to 194,894 TL (31 December 2021: 153,749 TL) and business advanced
given amounting to 19,931 TL as of reporting date. Other significant parts of long-term prepaid expenses consist of long-term sponsorship
and insurance expenses.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0"><B>Short-term Deferred Revenue</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: justify">Short-term deferred revenue from non-related
parties amounting to 99,774 TL (31 December 2021: 93,034 TL) mainly consists of other deferred revenue amounting to 73,571 TL (31 December
2021: 61,348 TL) and advances taken amounting to 26,203 TL (31 December 2021: 31,686 TL) as of reporting date. Other significant parts
of long- term prepaid expenses consist of employee salary promotions and rent income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">12</TD><TD STYLE="text-align: justify">INVESTMENTS VALUED BY EQUITY METHOD</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><BR>
The net asset amounts corresponding on Group&rsquo;s shares of the investments valued by equity method in the financial statements are
as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Joint </FONT>Ventures</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; padding-right: 3.5pt; padding-left: 3.5pt; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Sofra</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">6,421</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">13,202</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">b)</FONT></TD><TD STYLE="text-align: justify">Associates</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; padding-right: 3.5pt; padding-left: 3.5pt; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; padding-right: 3.5pt; padding-left: 3.5pt; font: 12pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">TOGG</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">1,116,522</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">665,382</FONT></TD></TR>
  </TABLE>
<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; text-align: justify">The movement investments valued by equity method is
as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Opening balance</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;678,584 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;103,926 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Shares of profit /(loss) from investments <BR>
&nbsp;&nbsp;&nbsp;&nbsp;valued by equity method</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(71,416)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;90,090 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Contribution to share capital</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;515,775 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;484,568 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Closing balance</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>1,122,943</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>678,584</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">13</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">INVESTMENT</FONT> PROPERTIES</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 and 2021, the movements
of investment properties are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 59%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Cost</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Opening balance</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;51,100 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;37,079 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Transfer</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;51,321 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;14,021 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Disposals</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(38,593)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Closing balance</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;63,828 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;51,100 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Accumulated depreciation</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Opening balance</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;34,512 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;23,404 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Transfer</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;40,990 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;9,999 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Additions</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;2,417 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,109 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Disposals</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(25,690)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Closing balance</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;52,229 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;34,512 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Net book value</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;11,599 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;16,588 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">13</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">INVESTMENT</FONT> PROPERTIES (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Depreciation expenses amounting 2,417 TL for
the year ended 31 December 2022 (31 December 2021 : 1,109 TL) are recognized under cost of revenue.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Fair value measurement of the Group&rsquo;s
investment properties</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022, the fair values of the
Group's investment properties are measured by independent valuation companies authorized by the Capital Markets Board, which perform the
valuation of investment properties in accordance with the capital market legislation and have sufficient experience and qualifications
in the fair value measurement of investment in the related regions. This valuation companies use different methods to measure the fair
values of investment properties (discounted cash flow, market comparison) and these methods are calculated by considering applicability
to real estates.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">In estimating the fair values of the properties,
the highest and best use of the property is its current use.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Rent income from investment properties during
the year ended 31 December 2022 is 11,489 TL (31 December 2021: 6,872 TL). There is no direct operating expense for investment properties
during the year ended 31 December 2022 (31 December 2021:None).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 and 2021, the group&rsquo;s
investment properties and their fair value hierarchy are as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="background-color: White; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 48%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Level 1</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Level 2</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Level 3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Valuation Method</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Investment properties in Gebze free zone</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;98,860 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">Discounted cash flow</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Investment properties in Ankara</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;58,500 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">Market approach</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Investment properties in Adana</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;13,000 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">Market approach</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Investment properties in &#304;stanbul</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;6,500 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">Market approach</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Investment properties in Ayd&#305;n</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;8,650 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">Market approach</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>86,650</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>98,860</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

<!-- Field: Page; Sequence: 87 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">13</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">INVESTMENT</FONT> PROPERTIES (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 48%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Level 1</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Level 2</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Level 3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Valuation Method</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Investment properties in Gebze free zone</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;52,725 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">Discounted cash flow</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Investment properties in Ankara</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;32,315 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">Market approach</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Investment properties in Adana</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;6,705 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">Market approach</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Investment properties in &#304;stanbul</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;3,765 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">Market approach</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Investment properties in Ayd&#305;n</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;3,600 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">Market approach</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>46,385</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>52,725</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Significant unobservable inputs and sensitivity
of fair values of respective investment properties are as follows:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">In the &ldquo;discounted cash flow&rdquo; approach,
a significant increase/(decrease) in rentals will cause a significant increase/(decrease) in the fair value. In addition, a slight decrease/(increase)
in risk premium and discount rate which are calculated by considering current market conditions will cause a significant increase/(decrease)
in the fair value.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">In the &ldquo;market approach&rdquo;, a significant
increase/(decrease) in the market value of any properties which are located in similar areas with similar conditions will cause a significant
increase/(decrease) in the fair value.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">14</TD><TD STYLE="text-align: justify">PROPERTY, PLANT AND EQUIPMENT</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 14.2pt 6pt 0; text-align: justify">The movements of property, plant and
equipment for the year ended 31 December 2022, are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 29%; padding-right: 3.5pt; padding-left: 3.5pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt"><B>Cost</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1 January 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Addition</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Disposals</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Transfer</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Impairment /reversal</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Transfer to investment property</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Foreign currency translations</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>31 December 2022</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Network infrastructure (All operational)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;34,307,250 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,480,060 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(734,492)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,759,821 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,166,570 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;40,979,209 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Land and buildings</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,720,401 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;117,046 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,810)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,118 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(51,321)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;5,023 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,791,457 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Equipment, fixtures and fittings</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,102,084 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;306,608 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(62,905)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;30,321 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;23,214 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,399,322 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Motor vehicles</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;51,138 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(209)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;569 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,841 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;55,339 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Leasehold improvements</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;329,758 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;23,147 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(4,317)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;646 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,207 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;350,441 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Electricity production power plant </FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;103,750 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;103,750 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Construction in progress</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;810,568 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,647,482 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(6,468)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(3,806,920)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;7,053 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;19,890 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,671,605 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;38,424,949 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;7,574,343 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(810,201)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(13,445)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;7,053 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(51,321)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;1,219,745 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;46,351,123 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Accumulated depreciation and impairment</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Network infrastructure (All operational)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;18,796,491 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,375,844 </FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(615,784)</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;166,203 </FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;967,414 </FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;22,690,168 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Buildings</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;443,425 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;83,534 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;211 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(40,990)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;5,440 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;491,620 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Equipment, fixtures and fittings</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;821,201 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;91,751 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(52,436)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;7,978 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;20,419 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;888,913 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Motor vehicles</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;47,105 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,837 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(174)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,849 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;53,617 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Leasehold improvements</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;312,026 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;6,923 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(3,996)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;25 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;620 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;315,598 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Electricity production power plant</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,922 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;5,241 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;7,163 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;20,422,170 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;3,566,130 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(672,390)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;174,417 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(40,990)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;997,742 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;24,447,079 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Property, plant and equipment, net</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;18,002,779 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;4,008,213 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(137,811)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(13,445)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(167,364)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(10,331)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;222,003 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;21,904,044 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 14.2pt 6pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">14</TD><TD STYLE="text-align: justify">PROPERTY, <FONT STYLE="font-size: 11pt">PLANT</FONT> AND EQUIPMENT (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 14.2pt 6pt 0; text-align: justify">The movements of property, plant and
equipment for the year ended 31 December 2021, are as follows:</P>

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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 28%; padding-right: 3.5pt; padding-left: 3.5pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt"><B>Cost</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1 January 2021</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Addition</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Disposals</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Transfer</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Acquisition through business combination</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Impairment /reversal</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Transfer to investment property</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Foreign currency translations</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Network infrastructure (All operational)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;24,923,118 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,415,616 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(435,571)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,084,711 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,319,376 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;34,307,250 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Land and buildings</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,485,249 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;40,466 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(10,191)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;185,428 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(14,021)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;33,470 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,720,401 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Equipment, fixtures and fittings</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;955,894 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;87,930 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(25,762)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;16,858 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;27 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;67,137 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,102,084 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Motor vehicles</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;44,999 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,162 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(2,399)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;156 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;6,220 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;51,138 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Leasehold improvements</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;342,093 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;8,849 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(32,476)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;546 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;10,746 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;329,758 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Electricity production power plant (Note 3)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;103,750 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;103,750 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Construction in progress</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;681,299 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,217,377 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(4,817)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(4,298,421)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(20,000)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;235,130 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;810,568 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;28,432,652 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;5,772,400 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(511,216)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(10,878)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;103,933 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(20,000)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(14,021)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;4,672,079 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;38,424,949 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Accumulated depreciation and impairment</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Network infrastructure (All operational)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;13,090,823 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,762,649 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(372,950)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,493 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,311,476 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;18,796,491 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Buildings</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;354,312 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;82,528 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(3,804)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(9,999)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;20,388 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;443,425 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Equipment, fixtures and fittings</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;717,871 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;66,229 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(21,141)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;58,242 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;821,201 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Motor vehicles</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;40,027 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,373 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(2,399)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;6,104 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;47,105 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Leasehold improvements</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;326,889 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;7,698 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(31,026)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;8,465 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;312,026 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Electricity production power plant (Note 3)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,922 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,922 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;14,529,922 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;2,924,399 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(431,320)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;4,493 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(9,999)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;3,404,675 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;20,422,170 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Property, plant and equipment, net</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;13,902,730 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;2,848,001 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(79,896)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(10,878)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;103,933 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(24,493)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(4,022)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;1,267,404 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;18,002,779 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Depreciation expenses for the years ended 31 December
2022 and 2021 amounting to 3,733,494 TL, 2,948,892 TL respectively including impairment losses are recognized in cost of revenue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Impaired network infrastructure mainly consists
of damaged or technologically inadequate mobile and fixed network infrastructure investments. Impairment losses on property, plant and
equipment for the year ended 31 December 2022 are 167,364 TL and are recognized under depreciation expenses (31 December 2021: 24,493
TL)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">15</TD><TD STYLE="text-align: justify">INTANGIBLE ASSETS</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 14.2pt 6pt 0; text-align: justify"><B>&#9;</B><FONT STYLE="font-size: 11pt">The
movements of intangible assets for the year ended 31 December 2022, are as follows:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 31%; padding-right: 3.5pt; padding-left: 3.5pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt"><B>Cost</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1 January 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Additions</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Disposals</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Transfer</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Impairment</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Foreign currency translations</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>31 December 2022</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">GSM and telecommunication licenses</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;10,742,945 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;244 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,919)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;913 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;177,644 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;10,919,827 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Computer softwares</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;14,437,848 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,058,103 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(167,559)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;180,427 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;178,120 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;18,686,939 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Transmission line softwares</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;89,263 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;544 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;89,807 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Indefeasible right of usage</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;166,122 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,345 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;169,467 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Brand name</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;12,211 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;371 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(331)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;75 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,567 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;13,893 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Customer base</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;15,512 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;15,512 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Goodwill</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;48,421 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;48,421 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Subscriber acquisition cost</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;6,645,600 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,531,415 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(67,744)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;41,312 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;9,150,583 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Electricity production power plant (Note 3)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;182,881 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;182,881 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Other</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;256,282 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;108,673 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(445)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,125 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;368,637 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Construction in progress</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;15,743 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;166,607 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(226)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(167,972)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;631 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;14,783 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;32,612,828 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;6,869,302 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(238,224)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;13,445 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;403,399 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;39,660,750 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Accumulated amortization</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">GSM and telecommunication licenses</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;5,452,949 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;767,281 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,919)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;307 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;76,692 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;6,295,310 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Computer softwares</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;9,008,362 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,657,392 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(164,839)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;30,730 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;116,863 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;10,648,508 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Transmission line softwares</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;79,919 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,460 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(10,077)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;74,302 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Indefeasible right of usage</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;68,506 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;11,847 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;80,353 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Brand name</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;7,345 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;71 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(239)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;13 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;7,190 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Customer base</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;13,522 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;437 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;13,959 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Subscriber acquisition cost</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,165,629 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,421,246 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(67,744)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;31,805 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,550,936 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Electricity production power plant (Note 3)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,382 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,382 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Other</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;151,435 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;92,828 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(445)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;331 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;654 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;244,803 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;17,951,049 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;3,955,562 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(235,186)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;21,291 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;226,027 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;21,918,743 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Intangible assets, net</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;14,661,779 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;2,913,740 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(3,038)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;13,445 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(21,291)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;177,372 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;17,742,007 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">15</TD><TD STYLE="text-align: justify">INTANGIBLE <FONT STYLE="font-size: 11pt">ASSETS</FONT> (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The movements of intangible assets for the year ended
31 December 2021, are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 28%; padding-right: 3.5pt; padding-left: 3.5pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt"><B>Cost</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1 January 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Additions</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Disposals</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Transfer</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Acquisition through business combinations</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Impairment </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Foreign currency translations</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">GSM and telecommunication licenses</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;9,188,733 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;279 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(830)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;18 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,554,745 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;10,742,945 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Computer softwares</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;11,835,827 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,003,373 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(73,673)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;131,439 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;540,882 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;14,437,848 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Transmission line softwares</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;88,499 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;764 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;89,263 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Indefeasible right of usage</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;159,995 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;6,127 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;166,122 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Brand name</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;9,483 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;534 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(48)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;592 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,650 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;12,211 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Customer base</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;15,512 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;15,512 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Goodwill</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;40,010 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;8,411 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;48,421 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Subscriber acquisition cost</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,787,853 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,804,368 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(56,666)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;110,045 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;6,645,600 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Electricity production power plant (Note 3)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;182,881 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;182,881 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Other</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;186,743 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;63,722 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(457)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;6,274 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;256,282 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Construction in progress</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,142 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;135,067 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(551)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(120,714)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;799 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;15,743 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;26,313,797 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;4,014,234 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(131,768)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;10,878 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;191,292 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;2,214,395 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;32,612,828 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Accumulated amortization</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">GSM and telecommunication licenses</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,253,203 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;662,888 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(830)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;26 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;537,662 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;5,452,949 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Computer softwares</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;7,304,194 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,324,586 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(73,471)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;15,319 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;437,734 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;9,008,362 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Transmission line softwares</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;79,073 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;846 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;79,919 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Indefeasible right of usage</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;56,974 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;11,532 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;68,506 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Brand name</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;7,040 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;32 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(33)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;306 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;7,345 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Customer base</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;13,085 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;437 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;13,522 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Subscriber acquisition cost</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,133,755 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;995,510 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(56,666)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;93,030 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,165,629 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Electricity production power plant (Note 3)</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,382 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,382 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Other</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;98,689 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;52,106 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;640 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;151,435 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;13,946,013 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;3,051,319 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(131,000)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;15,345 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;1,069,372 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;17,951,049 </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Intangible assets, net</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;12,367,784 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;962,915 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(768)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;10,878 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;191,292 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(15,345)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;1,145,023 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;14,661,779 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Amortisation including impairment losses is respectively
3,976,853 TL and 3,066,664 TL srecognized under cost of revenue.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">As of 31 December 2022, impairment of intangible
assets amounting to 21,291 TL (31 December 2021: 15,345 TL). That amount is recognized among depreciation expense under cost of revenue.
Computer softwares include, intra-group software development costs that meet the criteria of intangible assets. As of 31 December 2022,
computer software that created intra-group amounting to 546,260 TL (31 December 2021:345,369 TL).</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">Research and development expenses amounting to
66,326 TL recognized under cost of revenue (31 December 2021:44,347 TL).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">15</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">INTANGIBLE</FONT> ASSETS (cont&rsquo;d)</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022, net book value of licenses
2G, 3G and 4.5G are 11,496 TL, 237,391 TL, 2,469,941 TL respectively (31 December 2021: 57,478 TL; 276,957 TL; 2,882,117 TL).</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Lifecell has 9 operation licenses which are one 3G
operation license, one long distance and international call and seven PSTN operation license in different regions. As o f 31 December
2022, it has 23 licenses of radio frequency usage rights which are related to IMT (LTE-2600, LTE-1800, LTE-900), IMT-2000 (UMTS), GSM-900,
GSM-1800, microwave radio relay, and broad band radio access. Also, it has 3 NCD code for mobile network, 29 permits for short numbers,
10 permits for SS-7 code (6 regional and 4 international), 1 permit for MNC, 8 permits for PSTN licenses in local regions. In addition,
it has two service code authorizations for alternative call forward about international and long distance calls and also has authorization
for &ldquo;800&rdquo; which is global telecommunication service . The net book value of lifecell&rsquo;s licenses is 1,903,187 TL (31
December 2021: 2,054,249 TL).</P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">16</TD><TD STYLE="text-align: justify">RIGHT-OF-USE ASSETS</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Closing balances and depreciation and amortization
expenses of right of use assets for the years ended 31 December 2022 and 2021 are as below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 28%; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Site
    Rent</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Building</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Network
    equipment</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Vehicle</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Right
    of way&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>License</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Other</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Balance
    at 1 January 2022</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,521,783</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">283,175</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">262,267</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">135,530</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">45,307</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">631,630</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">103,956</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,983,648</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Depreciation
    and amortization charge <BR>
    for the year</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(969,241)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(87,025)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(380,927)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(58,973)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(31,105)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(112,764)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(125,213)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,765,248)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Balance
    at 31 December 2022</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;1,698,248
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;316,179
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;51,291
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;88,141
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;159,984
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;628,890
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;119,565
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;3,062,298
    </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Site
    Rent</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Building</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Network
    equipment</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Vehicle</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Right
    of way&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>License</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Other</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Balance
    at 1 January 2021</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,182,847</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">306,343</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">218,104</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">159,769</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">24,956</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">376,693</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">111,462</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,380,174</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Depreciation
    and amortization charge <BR>
    for the year</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(688,321)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(67,500)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(297,333)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(50,291)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(19,575)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(58,087)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(94,141)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,275,248)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Balance
    at 31 December 2021</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;1,521,783
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;283,175
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;262,267
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;135,530
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;45,307
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;631,630
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;103,956
    </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;2,983,648
    </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022, right of use assets are
amounting to 1,918,438 TL (31 December 2021: 1,692,693 TL) are capitalized by the Group. Interest expense on lease liabilities for the
year ended 31 December 2022 is 508,721 TL (31 December 2021: 359,240 TL); depreciation and amortization expenses are 1,765,248 TL (31
December 2021: 1,275,248 TL) and are recognized in cost of revenue.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">17</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">GOODWILL</FONT></TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of 31 December 2022, the Group has a total of 48,421
TL in goodwill related to Turkcell Superonline amounting to 32,834 TL, Boyut Enerji amounting to 8,411 TL (Note 3), and Yaani amounting
to 7,176 TL (31 December 2021: 48,421 TL) recognized in its financial statements. Since the impairment test for these goodwill amounts
is not material in terms of financial statements, it has not been performed.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">18</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">IMPAIRMENT</FONT> OF ASSETS</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group evaluates whether there is any indication
of impairment for an asset on the relevant reporting date. If such an indication exists, the asset's recoverable amount is estimated.
If the recoverable amount of the asset or any cash-generated unit to which the asset belongs exceeds its carrying amount, no impairment
loss is recognized.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022, due to ongoing war in
Ukraine, impairment test of lifecell&rsquo;s tangible and intangible assets was performed using the assumption that lifecell was the CGU.
As of 31 December 2022, the recoverable amount of lifecell is determined based on fair value less cost of disposal calculations. As the
recoverable amount of CGU was higher than its carrying amount, no impairment charge was recognized. (31 December 2021: No indication of
impairment was found in any cash-generated unit of the Group and no impairment test was performed).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Sensitivity analysis was performed on the change in
weighted average cost of capital (WACC) by +0.5%/-0.5%. Besides, considering of the potential effect of Ukraine-Russia war on lifecell&rsquo;s
business plans, sensitivity analysis was performed on the change in subscribers, average revenue per user (ARPU) and EBITDA margin by
1.0%-5.0%. No material sensitivity has been noted.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of 31 December 2022, the assumptions used in recoverable
amount calculations of lifecell were:</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Impairment test was performed based on lifecell&rsquo;s
business plans covering a six-year period.&nbsp;A post-tax WACC rate of 37.7% - 39.0% for the period from 2023 to 2028, and a terminal
growth rate of 5.0% were used.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">19</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">BORROWING</FONT> COSTS</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">When assets require a substantial amount of time to
be prepared for use or sale (qualified assets), borrowing costs that are directly related to the acquisition, construction, or production
of the relevant asset are considered part of the asset's cost until it is ready to be used or sold. All other borrowing costs are recognized
in the statement of profit or loss in the period in which they are incurred.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Total borrowing cost included in the cost of the qualified
assets is 216,668 TL for the year ended 31 December 2022 (31 December 2021: 183,951 TL). The capitalization rate for borrowings is 18.3%
(31 December 2021: 7.6%).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">PROVISIONS</FONT>, CONTINGENT ASSETS AND LIABILITIES</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20.1</TD><TD STYLE="text-align: justify">Short-<FONT STYLE="font-size: 11pt">term</FONT> Provisions</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 and 2021, the movements
of other short-term provisions are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 42%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Legal (**)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Bonus (*)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Balance at 1 January 2022</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;67,021 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;506,641 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;573,662 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Provisions recognized</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(90)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;919,750 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;919,660 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Payments</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(52,923)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(706,407)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(759,330)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Transfers from long-term provisions</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;17,862 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;17,862 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Effect of changes in exchange rates</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,079 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,079 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Balance at 31 December 2022</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;31,870 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;722,063 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;753,933 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Legal (**)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Bonus (*)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Balance at 1 January 2021</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;253,633 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;376,655 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;630,288 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Provisions recognized</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;221,453 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;659,066 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;880,519 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Payments</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(420,663)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(567,025)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(987,688)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Transfers from long-term provisions</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;10,198 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;10,198 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Effect of changes in exchange rates</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,400 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;37,945 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;40,345 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Balance at 31 December 2021</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;67,021 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;506,641 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;573,662 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt/11pt Times New Roman, Times, Serif; margin: 3pt 14.2pt 3pt 0; text-align: justify"><B>(*) </B>Includes share-based
payment. Refer to Note 22 for details.</P>

<P STYLE="font: 9pt/11pt Times New Roman, Times, Serif; margin: 3pt 14.2pt 3pt 0; text-align: justify"><B>(**) </B>Refer to Note 20.3
for details.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20.2</TD><TD STYLE="text-align: justify">Long-Term Provisions</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 and 2021, the movements
of other long-term provisions are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 43%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Legal</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Obligations for <BR>
dismantling, <BR>
removing and <BR>
site restoration </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Balance at 1 January 2022</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;19,662 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;596,135 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;615,797 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Provisions recognized</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;45,892 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;10,271 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;56,163 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Payments</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(6,106)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(6,106)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Transfers to short-term provisions</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(17,862)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(17,862)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Effect of changes in exchange rates</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;42,432 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;42,432 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Remeasurement</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;208,930 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;208,930 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Discounting effect</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;69,373 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;69,373 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Balance at 31 December 2022</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;47,692 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;921,035 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;968,727 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Legal</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Obligations for <BR>
dismantling, <BR>
removing and <BR>
site restoration </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Balance at 1 January 2021</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;16,894 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;395,037 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;411,931 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Provisions recognized</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;12,966 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;21,477 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;34,443 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Payments</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(3,068)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(3,068)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Transfers to short-term provisions</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(10,198)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(10,198)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Effect of changes in exchange rates</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;145,337 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;145,337 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Remeasurement</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(375)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(375)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Discounting effect</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;37,727 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;37,727 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Balance at 31 December 2021</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;19,662 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;596,135 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;615,797 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Obligations for dismantling, removing and site
restoration are discounted using a discount rate of 14.4% at 31 December 2022 (31 December 2021: 17.3%).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">PROVISIONS</FONT>, CONTINGENT ASSETS AND LIABILITIES (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20.2</TD><TD STYLE="text-align: justify">Long-<FONT STYLE="font-size: 11pt">Term</FONT> Provisions (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group is required to incur certain costs in
respect of a liability to dismantle and remove assets and to restore sites on which the assets were located. The dismantling costs are
calculated according to the best estimate of future expected payments discounted at a pre-tax discount rate that reflects current market
assessments of the time value of money and the risks specific to the liability. It is expected that the obligations for dismantling, removing
and site restoration will be realized in accordance with the useful life of GSM services materials. Additions to obligations for dismantling,
removing and site restoration during the period are non-cash transactions and are recorded against property, plant and equipment.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20.3</TD><TD STYLE="text-align: justify">Turkcell&rsquo;s Contingent Assets and Liabilities</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 1.1pt 6pt 0; text-align: justify">The following disclosures comprise of
material legal lawsuits, investigations and in-depth investigations against the Company.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Disputes on Special Communication Tax and Value
Added Tax</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><I>SCT Investigation of 2011</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Large Taxpayers Office levied Special Communication
Tax (SCT) and tax penalty on the Company as a result of the Tax Investigation for the year 2011. The Company filed lawsuits for the cancellation
of the notification regarding the aforementioned SCT assessment. The court partially accepted and partially rejected the cases and the
parties appealed the decisions regarding the parts against them. The Large Taxpayers Office has collected 80,355 TL calculated for the
parts against the Company for the assessment of the SCT for the year 2011 by offsetting the receivables of the Company from Public Administrations.
While the cases are pending before the court of appeal the Company filed application for the restructuring as per Law no. 6736. The tax
Office has rejected the application. The Company has also filed a case for the cancellation of aforementioned rejection act of the Tax
Office. In this case, with the decision that notified to the Company on 14 April 2020, the Council of State decided to cancel the rejection
act regarding the application for the restructuring. The Large Taxpayers Office and Ministry of Treasury and Finance appealed the decision.
The Company replied the appeal request in due time. As a result of the appeal process, The Council of State Plenary Session of the Tax
Law Chambers, approved the first instance court decision in favor of the Company with its definitive judgment. Thus, the case was finalized
in favor of the Company, the assessment of the SCT for the year 2011 was structured within the scope of Law No. 6736 and 47,534 TL overpaid
amount was returned to the Company in 2021 by deduction from the debts of the Company to the State. On the other hand, upon the favorable
decision taken in this case, a lawsuit was filed for the cancellation of the tacit rejection of the restructure request of the SCT assessment
with tax penalty for the period 2011 within the scope of Law No. 6736 and request of collection of 47,405 TL principal receivable and
36,000 TL damage accrued with a deferment interest until the collection date.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">The Court partially accepted the case; and decided
to cancel the tacit rejection act for the 47,269 TL part, and to return this amount to the Company together with the interest to be calculated
at the deferred interest rate determined in accordance with the Law No. 6183 as of the collection date. The parties appealed the decision
before Regional Administrative Court regarding the parts against them.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">In the cases regarding the cancellation of the
SCT assessment for the year 2011, Council of State accepted the appeal and decided to reverse the first instance court decisions in favor
of the Company, on the ground that; in the case filed for the cancellation of the rejection act regarding the request to restructure the
cases filed for the year 2011, the court decided in favor of the Company and since the mentioned case will affect these cases, finalization
of the respective decision should be waited. The Large Taxpayers Office applied for the correction of the decisions. The Company replied
to application for the correction of the decisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">PROVISIONS</FONT>, CONTINGENT ASSETS AND LIABILITIES (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20.3</TD><TD STYLE="text-align: justify">Turkcell&rsquo;s Contingent Assets and Liabilities (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Disputes on Special Communication Tax and Value
Added Tax (cont&rsquo;d)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><I>SCT Investigation of 2011 (cont&rsquo;d)</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4.8pt 0; text-align: justify">The Company replied to application for the correction
of the decisions. The Council of State, rejected the correction of decision requests of the Large Taxpayers Office, in favor of the Company.
In 2021, The Court decided there is no need to make ruling regarding the essence of the cases, due to the fact that the amount of the
SCT assessment for the year 2011, which are the subject of the lawsuit, was structured within the scope of the Law No. 6736.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Disputes regarding the Law on the Protection
of Competition</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The investigation initiated by the Competition
Board with respect to the practices of the Company regarding the distributors and their dealers in the distribution network. As a result
of the investigation the Competition Board rejected the claims that Turkcell determined the resale price. But with the same decision,
The Competition Board decided to apply administrative fine on the Company amounting to 91,942 TL, on the ground that the Company forced
its sub dealers to actual exclusivity. The Company filed a lawsuit on 8 December 2011 for the stay of execution and cancellation of the
aforementioned Board decisions regarding the parts against itself. The Court rejected the case</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Company appealed the decision, but the Council
of State Plenary Session of the Chambers for Administrative Cases decided to approve the first instance court&rsquo;s decision. The Company
made an individual application to the Constitutional Court, against the respective decision within due time. The Constitutional Court
process is pending.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Also, the Large Taxpayers Office issued
a payment order regarding the aforementioned administrative fine. The Company has not made any payments and filed a lawsuit for the stay
of execution and cancellation of the payment order. The Court accepted the case. The Large Taxpayers Office appealed the decision. As
a result of the appeal process, due to the reverse decision of the Council of State about the first instance court decision, the case
file was sent to the first instance court. The Court rejected the case. The Company appealed the decision. The appeal process is pending.
47,780 TL part of the administrative fine amounting to 91,942 TL has been deducted from the receivables that the Company has earned in
the case of cancellation of the application for restructuring the 2011 SCT assessment within the scope of Law No. 6736 in 2021. The remaining
44,162 TL part of the administrative fine was paid in April 2022 upon the request of the administration.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Three private companies filed a lawsuits
against the Company in relation with this case claiming in total of 112,084 TL together with up to 3 times of the loss amount to be determined
by the court for its material damages by reserving its rights for surpluses allegedly.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Among these cases, in the case filed for
the compensation of total 110,484 TL material damages together with compensation amounting to three times of the damage and interest,
the court decided to reject the case in favor of the Company, at the hearing on 12 June 2019. The plaintiff appealed the case before Regional
Court of Justice. The Regional Court of Justice decided to revoke the decision of the first instance court, stating that a new decision
should be made after the procedural actions within the scope of the file were re-executed and the expert report was received. The expert
report has been submitted to its file, and the Company has submitted its statements and objections regarding the report in due time.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with our objections, The Court decided
to obtain an expert report from a new expert committee, mentioning that there was a clear contradiction between the expert reports in
the case. The expert report within this scope has been submitted to its file, and the Company has submitted its statements and objections
regarding the report in due time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">PROVISIONS</FONT>, CONTINGENT ASSETS AND LIABILITIES (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20.3</TD><TD STYLE="text-align: justify">Turkcell&rsquo;s Contingent Assets and Liabilities (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Disputes regarding the Law on the Protection
of Competition (cont&rsquo;d)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the hearing of the case dated 22 June 2022,
the court partially accepted the case and ruled reimbursement of 215,555 TL (three times of the actual damage of 71,851 TL loss pursuant
to the Act on Protection of Competition, including 40,600 TL previous year loss, 14,335 TL fixed asset loss, 14,163 TL leasing, exchange
difference and financing loss, and 2,751 TL profit loss) together with the discount interest TL applicable from the date of the case to
Demir&ouml;ren Da&#287;&#305;t&#305;m Sat&#305;&#351; Pazarlama Matbaac&#305;l&#305;k ve Tahsilat Sistemleri A.&#350;, June 2012, and
partially rejected the case for the remaining part.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The reasoned decision notified to the Company.
Demir&ouml;ren made the decision the subject of enforcement proceedings. Turkcell appealed the decision before Regional Court of Justice
and has suspended the execution proceedings until the appeal proceedings are concluded by submitting a letter of guarantee to the file.
Also Demir&ouml;ren appealed the decision before Regional Court of Justice and the Company replied this appeal in due time. An application
for complaint has been filed by company with the request for cancellation of the enforcement order and the enforcement proceedings initiated
by Demir&ouml;ren.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">The court decided to accept company's complaint
and cancelled the interest charge of 34,142 TL requested in the enforcement order. As a result of the appeal examination made by the Regional
Court of Appeal, Turkcell's appeal request was accepted and the decision of the first instance court was revoked.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">The file was returned to the first instance
court for a re-decision within the scope of the removal decision, and the appeal request of Demir&ouml;ren were not examined at this stage.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Among these cases, in the case filed for the
compensation of total 500 TL material damages together with compensation amounting to three times of the damage and interest, the expert
report has been submitted to its file, and the Company has submitted its statements and objections regarding the report in due time. In
accordance with our objections, The Court decided to obtain an expert report from a new expert committee. The other case is pending.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">On the other hand, a lawsuit was filed by a
third party, for the cancellation of the part of the aforementioned Competition Board decision, regarding the rejection of the claims
that the Company determined the resale price. The Council of State cancelled this part of the aforementioned Competition Board decision.
Thereafter Competition Board launched a new investigation and as a result of it the Competition Board decided to apply administrative
fine amounting to 91,942 TL on the Company. The Company has taken all legal actions by requesting the cancellation of the aforementioned
decision and its withdrawal by the Competition Authority. The Competition Authority accepted some of the objections of the Company and
reduced the administrative fine to 61,294 TL with its decision.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The aforementioned fine that amount of 61,294 TL was
paid with twenty five percent discount on 9 April 2020, in the amount of 45,971 TL. Then, a lawsuit was filed on 10 April 2020 for cancellation
of the aforementioned administrative fine. The hearing was held on 19 January 2021 in this case. The Court rejected the case. The Company
appealed the case before Regional Administrative Court. The Regional Administrative Court rejected the appeal request. The Company appealed
the decision in due time. The appeal process is pending.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20</TD><TD STYLE="text-align: justify">PROVISIONS, CONTINGENT ASSETS AND LIABILITIES (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20.3</TD><TD STYLE="text-align: justify">Turkcell&rsquo;s Contingent Assets and Liabilities (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>BTK &ndash; Investigation Regarding the R&amp;D Obligations (Period
of 2013-2016)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">BTK initiated an investigation on the obligation
of investing to products in electronic communication network and communication services, partly from suppliers which have a R&amp;D center
in Turkey; partly from the products manufactured in Turkey by SME suppliers which are established to develop products or systems in Turkey;
and partly from products that are certified to be domestic goods within the framework of the relevant legislation.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As a result of the investigation BTK has decided
to imposed an administrative fine of 18,031 TL to Turkcell. The administrative fine notified to the Company on 29 January 2021 and was
paid on 26 February 2021 as 13,523 TL with taking on the account the early payment discount (1/4). The Company filed totally ten different
lawsuits for the cancellation of the administrative fines. The Court rejected the 8 of these cases. The Company appealed the decisions
before Regional Administrative Court in due time. Other cases are pending.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>BTK &ndash; Investigation Regarding the R&amp;D
Obligations (Period of 2016-2017)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">For the period of 27 October 2016-27 October 2017;
the BTKcarried out an investigation in order to examine whether Our Company fulfills its obligations arising from relevant legislation
about R&amp;D Center and SME, and using of Domestic Goods Certified products. As a result of the investigation BTK has decided to imposed
an administrative fine of 31,139 TL to the Company. The administrative fine notified to Turkcell on 29 January 2021 and was paid on 26
February 2021 as 23,354 TL with taking on the account the early payment discount (1/4). The Company filed totally seven different lawsuits
for the cancellation of the administrative fines. The Court rejected the four of these cases. The Company appealed the decisions before
Regional Administrative Court in due time. Other cases are pending.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>BTK &ndash; Investigation on 3G and 4.5G Service
Quality Obligations</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">BTK initiated an investigation to examine whether
the 2018 Q4 &ndash; 2019 Q3 term notifications meet the criteria and target values defined in the service quality legislation and whether
or not our obligations about the service quality criteria which is set in the IMT Certificate of Authority have been fulfilled.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">As a result of the investigation BTK has decided
to impose an administrative fine of 3,622 TL to Turkcell. The administrative fine notified to the Company on 20 January 2022 and was paid
on 17 March 2022 as 2,716 TL with taking on the account the early payment discount (1/4).</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 1.1pt 6pt 0; text-align: justify">After notification of the Board Decision
to the Company, the Company applied to BTK with the demand of withdraw of the Board Decision. The application of the Company was tacitly
rejected by BTK. The Company filed five separate lawsuits in total for the cancellation of the related transactions and administrative
fines. The cases are pending.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>BTK &ndash; Inspection on Service Quality (2020
H2)</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 1.1pt 6pt 0; text-align: justify">BTK initiated an investigation due
to exceeding the target value determined for &ldquo;Call Failure Rate&rdquo; and &ldquo;Call Blocking Rate&rdquo; criteria. As a result
of the investigation BTK has decided to impose an administrative fine of 568 TL to the Company. The administrative fine notified to the
Company on 20 January 2022 and was paid on 17 March 2022 as TL 426 with taking on the account the early payment discount (1/4). After
notification of the Board Decision to the Company, the Company applied to BTK with the demand of withdraw of the Board Decision. The application
of the Company was tacitly rejected by BTK. The Company filed a lawsuit for the cancellation of the related transaction and administrative
fine. The case is pending.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20</TD><TD STYLE="text-align: justify">PROVISIONS, CONTINGENT ASSETS AND LIABILITIES (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20.3</TD><TD STYLE="text-align: justify">Turkcell&rsquo;s Contingent Assets and Liabilities (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 1.1pt 6pt 0; text-align: justify"><B>BTK &ndash; <FONT STYLE="font-family: Times New Roman, Times, Serif">Investigation
of 3G and 4,5G Coverage Obligations (cont&rsquo;d)</FONT></B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 1.1pt 6pt 0; text-align: justify">As a result of the investigation
initiated to audit our 3N coverage area obligations determined in accordance with Article 6 of the Concession Agreement titled &quot;Coverage
liability&quot; and the relevant legislation, ii) audit our 4.5N coverage obligations for highways, high-speed train lines and tunnels
over 1 (one) kilometer long, which we are obliged to cover within the framework of the 4.5N Authorization Certificate and the relevant
legislation; BTK has decided to impose an administrative fine of 1,459 TL. The fine, which was notified to <FONT STYLE="font-family: Times New Roman, Times, Serif">the
Company</FONT> on 2 September 2022, was paid as 1,094 TL (1/4 discounted) on 27 October 2022. An application has been made to the BTK
for the revocation of the decision. The application was tacitly rejected by the BTK by not responding within 30 days.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 1.1pt 6pt 0; text-align: justify"><B>BTK &ndash; Directory Assistance
Service Investigation</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 1.1pt 6pt 0; text-align: justify">As a result of the investigation
initiated in order to inspect the compliance of our Company&rsquo;s directory assistance services with the relevant legislation, BTK has
decided to impose an administrative fine of 1,250 TL on <FONT STYLE="font-family: Times New Roman, Times, Serif">the Company</FONT>. The
fine, which was notified to <FONT STYLE="font-family: Times New Roman, Times, Serif">the Company</FONT> on 28 July 2022, was paid as 938
TL (1/4 discounted) on 23 September 2022 by taking advantage of the early payment discount. An application was made to the BTK for the
revocation of the decision and <FONT STYLE="font-family: Times New Roman, Times, Serif">tacitly rejected by BTK. The Company filed a lawsuit
for the cancellation of the related transaction and administrative fine. </FONT></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 1.1pt 6pt 0; text-align: justify"><B>BTK &ndash; Refunds Investigation
</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 1.1pt 6pt 0; text-align: justify">As a result of the investigation
initiated to examine the compliance of the activities carried out within the scope of the Board Decisions dated 01.03.2018 and numbered
2018/DK-THD/58(Board Decision on Refunds to Subscribers), dated 12.04.2018 and numbered 2018/DK-THD/116(Refund/Use of Remaining Amount
on Prepaid Lines) and dated 16.04.2018 and numbered 2018/DK-THD/123(Transferring Non-refundable Amounts on Prepaid Lines as Universal
Service Contribution),</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6.5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify; padding-right: 1.1pt">The BTK has decided that the unpaid 412 TL will be transferred to the Ministry,
along with the late fee from 14 April 2020 and inform the BTK about this transfer.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6.5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify; padding-right: 1.1pt">The BTK has decided to transfer the 161 TL that could not be refunded to subscribers
regarding the period between 27.04.2017-31.05.2018, which were not fully paid to the Ministry. The BTK has also decided to transfer the
refund amounts related to the period between 01.04.2010-27.04.2017 -along with the late fee from 28 July 2020- and to inform the BTK about
this matter.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6.5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify; padding-right: 1.1pt">The BTK has decided to impose an administrative fine of 5,680 TL in total.</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 1.1pt 6.5pt 0; text-align: justify">The fine, which was notified to
<FONT STYLE="font-family: Times New Roman, Times, Serif">the Company</FONT> l on 2 January 2023, was paid as 4,260 TL (1/4 discounted)
on 31 January 2023 by taking advantage of the early payment discount. Additionally, an application (&#304;YUK 11) will be made to the
BTK with request for re-evalutaion and revocation of the decison.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20</TD><TD STYLE="text-align: justify">PROVISIONS, <FONT STYLE="font-size: 11pt">CONTINGENT</FONT> ASSETS AND LIABILITIES (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">20.3</TD><TD STYLE="text-align: justify">Turkcell&rsquo;s Contingent Assets and Liabilities (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 1pt 1.15pt 2.4pt 0; text-align: justify"><B>BTK &ndash; Sub-Agency/Dealership
Investigation</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 1pt 1.15pt 2.4pt 0; text-align: justify">As a result of examinations
carried out by the BTK due to large number of complaints from consumers who were victimized by being called illegally, the BTK started
an investigation to determine whether sub-dealers were used. As a result of the investigation, the BTK decided to impose a 894 TL administrative
fine on Our Company. The fine, which was notified to <FONT STYLE="font-family: Times New Roman, Times, Serif">the Company</FONT> on 26
January 2023, is planned to be paid as 625 TL (1/4 discounted) on 24 February 2023 by taking advantage of the early payment discount.
Additionally, an application (&#304;YUK 11) will be made to the BTK with request for re-evalutaion and revocation of the decison.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 1pt 1.15pt 2.4pt 0; text-align: justify"><B>BTK &ndash; Fizy Service
Investigation</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 1pt 1.15pt 2.4pt 0; text-align: justify">The BTK initiated an investigation
to examine the &laquo;Fizy&raquo; Service, in the scope of service delivery, the information given to the consumers, the purchasing methods
and the complaints selected as examples. As a result of the investigation; (i) the BTK has decided to impose an administrative fine of
1,682 TL on Our Company, (ii) the BTK has decided to give a warning to Our Company due to the implementation of the double opt-out method
in the cancellation process of consumers, (iii) the BTK has also decided that the additional amounts reflected to subscribers due to the
aforementioned violations will be refunded to consumers within the framework of the relevant legislation. The fine, which was notified
to <FONT STYLE="font-family: Times New Roman, Times, Serif">the Company</FONT> on 26 January 2023, is planned to be paid as 1,262 TL (1/4
discounted) on 24 February 2023 by taking advantage of the early payment discount. Additionally, an application (&#304;YUK 11) will be
made to the BTK with request for re-evalutaion and revocation of the decison.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 1pt 1.15pt 2.4pt 0; text-align: justify"><B>Other ongoing lawsuits and
tax investigations</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 7pt 0 0.7pt; text-align: justify">Probability of an outflow of resources embodying
economic benefits for 2018 and 2019 fiscal years with regards to notification of Information and Communication Technologies Authority
for radio fee related to 2018 fiscal year was considered by the Company management.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 7pt 0 0.7pt; text-align: justify">In this respect, 128,429 TL was paid in
November 2019 by reserving our right to take legal actions and legal actions were taken for 2018 fiscal year. The lawsuits are pending.
On the other hand, additional 13,465 TL for 2018/December was paid with reservation on 29 January 2021 with regards to notification of
Information and Communication Technologies Authority for the same reason.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 7pt 0 0.7pt; text-align: justify"><FONT STYLE="font-size: 11pt">On the other
hand, mobile payment services provided by </FONT>the Company <FONT STYLE="font-size: 11pt">Odeme were investigated within the scope of
the Law No. 6493 and secondary legislation issued pursuant to this Law. As a result of the investigation, an administrative fine was imposed
on </FONT>the Company <FONT STYLE="font-size: 11pt">Odeme in the amount of 18,763 TL. </FONT>the Company <FONT STYLE="font-size: 11pt">Odeme
filed a lawsuit for the cancellation of the aforementioned administrative fine. The hearing was held on 30 December 2020 in this case.
The Court decided to accept the case in favor of the Company and cancelled the administrative fine subject to the case. The defendant
appealed the decision before the Regional Administrative Court. The Company replied this appeal request in due time. The appeal process
is pending.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"><FONT STYLE="font-size: 11pt">While this case
was ongoing, the Tax Office sent a payment order for collection of the aforementioned administrative fine. </FONT>the Company <FONT STYLE="font-size: 11pt">Odeme
filed a lawsuit for the cancellation of the payment order. The Court accepted the case and cancelled the payment order. Tax office appealed
the decision before the Regional Administrative Court. The Company replied this appeal request in due time. The Regional Administrative
Court, rejected the appeal request of the Tax Office in favor of the Company. The defendant appealed the decision before the Council of
State. The Company replied this request in due time. The appeal process is pending.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Based on the management opinion, an outflow
of resources embodying economic benefits is deemed as probable on some of the aforementioned lawsuits and investigations, thus 4,629 TL
provision is recognized in the consolidated financial statements as at and for the period ended 31 December 2022 (31 December 2021: 53,603
TL)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">21</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">COMMITMENTS</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">Bank loans <FONT STYLE="font-size: 11pt">and</FONT> guarantees given:</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Collaterals, pledges and mortgages (&ldquo;CPM&rdquo;)
given by the Group as of 31 December 2022 and 31 December 2021 are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; width: 27%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>TL Equivalents</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>TL</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>USD</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>EUR</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>UAH</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>TL Equivalents</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>TL</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>USD</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>EUR</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 7%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>UAH</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">A. CPM&rsquo;s given in the behalf of own Company</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;5,871,529 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,102,872 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;14,628 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;125,159 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;208 </FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,021,743 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;912,672 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;17,022 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;124,751 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;213 </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Collateral</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;5,871,529 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,102,872 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;14,628 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;125,159 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;208 </FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,021,743 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;912,672 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;17,022 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;124,751 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;213 </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Pledge</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Mortgages</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">B. CPM&rsquo;s given on behalf of the fully consolidated <BR>
subsidiaries</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,204,246 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;42,025 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;32,028 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,481,128 </FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;2,946,257 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;48,109 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;40,020 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,481,643 </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Collateral</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,204,246 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;42,025 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;32,028 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,481,128 </FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;2,946,257 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;48,109 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;40,020 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;3,481,643 </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Pledge</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Mortgages</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">C. CPM&rsquo;s given on behalf of third parties or ordinary <BR>
course of business</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;748,536 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;748,536 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;968,046 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;968,046 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Collateral</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;748,536 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;748,536 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;968,046 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;968,046 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Pledge</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Mortgages</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">D. Total amount of other CPM&rsquo;s given</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">i. Total amount of CPM&rsquo;s given on behalf of the parent</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Collateral</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Pledge</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Mortgages</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">ii.Total amount of CPM&rsquo;s given on behalf of the Group companies which are not in scope of B and C</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Collateral</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Pledge</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Mortgages</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">iii.Total amount of CPM&rsquo;s given on behalf of third parties which are not in scope of C</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Collateral</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Pledge</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;Mortgages</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt"><B>Total CPM</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>9,824,311</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>3,851,408</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>56,653</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>157,187</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>3,481,336</B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>6,936,046</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>1,880,718</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>65,131</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>164,771</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>3,481,856</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Since there are not any CPM&rsquo;s mentioned
in D item, the ratio to the total equity is not stated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">21</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">COMMITMENTS</FONT> (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Purchase <FONT STYLE="font-size: 11pt">commitments</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.1pt 6pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of 31 December 2022, outstanding purchase commitments with respect to property, plant and equipment, inventory, advertising and sponsorship
amount to </FONT>3,927,476 TL <FONT STYLE="font-family: Times New Roman, Times, Serif">(31&nbsp;December&nbsp;2021: 1,311,359 TL). Payments
for these commitments will be made within 4 years.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">BeST has an investment commitment covers the years
2022-2032 with a total investment amount of not less than 100,000 USD equivalent to 1,869,830 TL in accordance with the aggreement which
signed between the Republic of Belarus, BeST and the Company on 30 November 2022.</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Resale <FONT STYLE="font-size: 11pt">commitments</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has resale commitment regarding to reverse
repo receivables amounting 3,704,160 TL as of 31 December 2022 (31 December 2021:None).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">22</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">EMPLOYEE</FONT> BENEFITS</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Payables related to employee benefits</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 ve 2021, payables related
to employee benefits are as follows:<BR>
<BR>
</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Payables related to social security contributions </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;226,880 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;68,892 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Accrual personnel salaries </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;119,347 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;67,010 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Other </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;8,148 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;4,728 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;354,375 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;140,630 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Long-term provisions related to employee benefits</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Group&rsquo;s accounting policies require
actuarial valuation methods to estimate employee termination benefits. Provision for employee termination benefits is calculated annually
by independent actuaries using the projected unit credit method and by estimating the present value of future probable obligation of the
Group and its subsidiaries in Turkey arising from retirement of employees and recognized in financial statements. Discount rate used for
calculating employee termination benefit as of 31 December 2022 is 0.6% (31 December 2021: 2.9%).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The main assumption is that the ceiling obligation
set for each annual service will increase in proportion to inflation. Thus, the discount rate applied reflects the real rate after adjusting
for the expected effects of inflation. As of 31 December 2022, the Group's employee termination benefit liability is calculated at 15.4
TL due to the expectation that the ceiling price increases in the coming years will exceed inflation (31 December 2021: 8.2 TL). As of
31 December 2022 and 2021, the long-term provision for employee benefits includes provisions for employee termination benefit and unused
vacation. The provision for unused vacation as of 31 December 2022 and 2021 is 199,275 TL and 100,495 TL, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">22</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">EMPLOYEE</FONT> BENEFITS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Long-term provisions related to employee benefits
(cont&rsquo;d)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Movements in provision for employee termination
benefits are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Opening balance</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;514,118 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;301,459 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Additions</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;87,258 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;62,749 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Actuarial loss/(gain)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;950,686 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;163,588 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Payments </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(57,909)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(51,138)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Discount expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;96,603 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;37,383 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Acquisiton through business combinations</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;77 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Closing balance</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;1,590,756 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;514,118 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022 and 2021, the sensitivity
analysis regarding to actuarial assumptions made during the calculation of employee termination benefit provision is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>31 December 2022</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Discount Rate</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Inflation Rate</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 50%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>Sensivity Level</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>1% increase</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>1% decrease</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 12%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>1% increase</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>1% decrease</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Change in assumption</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">(15.4%)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">19.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">18.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">(15.6%)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Impact on provision for employee termination benefits</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(244,976)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;302,244 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;300,653 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(248,158)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>31 December 2021</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Discount Rate</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Inflation Rate</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>Sensivity Level</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>1% increase</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>1% decrease</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>1% increase</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>1% decrease</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Change in assumption</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">(13.4%)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">16.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">16.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">(13.8%)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Impact on provision for employee termination benefits</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(68,892)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;83,801 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;84,829 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;(70,948)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify">The above sensitivity analyses are based on
a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of
the assumptions may be correlated.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><B>Defined Contribution Plans</B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Obligations for contribution to defined
contribution plans are recognized as an expense in the consolidated statement of profit or loss as incurred. The Group is obliged to contribute
a certain percentage of personnel wages to pension plans. The Group incurred 31,399 TL and 20,004 TL in relation to the defined contribution
retirement plan for the years ended 31 December 2022 and 2021 respectively.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><B>Share Based Payments</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Group has a share performance based payment plan
(cash settled incentive plan) in order to build a common interest with its shareholders, support sustainable success, and ensure loyalty
of key employees. The KPIs of the plan are; the total shareholder return in excess of weighted average cost of capital (WACC), and ranking
of total shareholder return in comparison with BIST-30 and peer group. Bonus amount is determined according to these evaluations, and
it is distributed over a three-year payment plan. As of 31 December 2022 and 2021, the Group has not recognized any expenses regarding
this plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">23</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">LIABILITIES</FONT> ARISING FROM CUSTOMER CONTRACTS</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Short-term Liabilities Arising from Goods and Service Sales Contracts</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">&nbsp;Contract liabilities from sale of goods and services contracts </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;706,046 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;459,289 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Long-term Liabilities Arising from Goods and Service Sales Contracts</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">&nbsp;Contract liabilities from sale of goods and services contracts </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;261,328 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;170,445 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Contract liabilities primarily consist of right
of use sold but not used by prepaid subscribers.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Revenue recognized in the current reporting period
relating to carried forward contract liabilities is 459,289 TL (2021: 315,070 TL).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">As of 31 December 2022, the details of unsatisfied
contract liabilities are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 58%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Telecommunication income</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">1,844,463</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">1,485,719</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Device income</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">849,574</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">1,061,141</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>2,694,037</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>2,546,860</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 4pt 0 0; text-align: justify">Management expects that 48% of the transaction
price allocated to the unsatisfied contracts as of 31 December 2022 will be recognized as revenue during 2023 and the remaining 52% will
be recognized in next years.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">24</TD><TD STYLE="text-align: justify">EXPENSES BY NATURE</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 62%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 18%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Depreciation and amortization (*) </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9,478,012)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7,291,913)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Personnel expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5,572,800)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3,482,663)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Cost of goods sold </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5,651,973)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,377,966)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Treasury share </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,084,897)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,816,508)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Interconnection and termination expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3,265,242)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,608,009)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Radio expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,965,792)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,258,037)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Frequency expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,497,117)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,032,410)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Marketing expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,031,669)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(733,381)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Transmission expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(809,970)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(565,820)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Internet expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(643,275)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(353,386)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Roaming expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(610,932)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(340,282)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Universal service fund </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(568,470)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(388,817)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Cost of revenue from financial services (**) </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(565,229)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(223,050)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Selling expense </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(229,204)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163,974)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Other </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,033,158)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,291,264)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>(41,007,740)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>(27,927,480)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(*) As at 31 December 2022, depreciation and amortization
expenses include depreciation and amortization expenses related to the financial services amounting to 74,630 TL (31 December 2021: 66,798
TL).</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(**) As at 31 December 2021, cost of revenue from financial
services includes employee benefit expenses related to the financial services amounting to 71,133 TL (31 December 2021: 31,722 TL).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">25</TD><TD STYLE="text-align: justify">OTHER <FONT STYLE="font-size: 11pt">ASSETS</FONT> AND LIABILITIES</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 14.2pt 6pt 0; text-align: justify"><B>Other current assets </B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 7.1pt 6pt 0; text-align: justify">As of 31 December 2022 and 2021,
the details of other current assets are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 67%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;VAT receivable </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;585,060 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;90,645 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Due from personnel </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;24,790 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;18,589 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Other&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,382 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;939 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;611,232 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;110,173 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 14.2pt 6pt 0; text-align: justify"><B>Other long-term liabilities </B></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 7.1pt 6pt 0; text-align: justify">As of 31 December 2022 and 2021,
the details of other long-term liabilities are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 67%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Liabilities to BeST investment agreement (*)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;663,338 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Consideration payable in relation to acquisition of BeST (**)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;758,261 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Consideration payable in relation to <BR>
&nbsp;&nbsp;&nbsp;&nbsp;the acquisition of Boyut Enerji (Note 3)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;3,275 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;3,275 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;2,522 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;666,613 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;764,058 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify">(*) The transfer of ownership of BeST's 20%
share in the Republic of Belarus was completed on 9 December 2022. On 30 November 2022, an agreement was signed between the Republic of
Belarus, BeST and the Company for the development of telecommunications infrastructure, which covers the years 2022-2032 and involves
a 100.000 USD obligation to be paid over a period of 10 years based on a minimum of 50% of the net profit earned by BeST, with the entire
amount being paid by the Company to the Republic of Belarus if the specified amount is not reached at the end of the 10-year period.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0 6pt; text-align: justify">The liability recorded in the consolidated
financial statements for the BeST investment agreement reflects the amortized cost value of future payments at the balance sheet date.
The total future payments to be made is 100,000 USD (equivalent to 1,869,830 TL as of 31 December 2022) and will be paid depending on
the financial performance of BeST. A discount rate of 14.99% was used in the amortized cost calculation. BeST expects the payment to be
made in installments between 2027- 2031.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(**) Consideration payable (conditional consideration)
in relation to acquisition of BeST in 2008 was recognized at fair value within the scope of TFRS 3. The assumptions used in the fair value
calculation are explained in Note 38. On 30 November 2022, the relevant contract was canceled by mutual agreement. and an investment agreement
was signed instead of the relevant contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">26</TD><TD STYLE="text-align: justify">PAID-IN <FONT STYLE="font-size: 11pt">CAPITAL</FONT>, LEGAL RESERVES VE OTHER EQUITY ITEMS</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">26.1</TD><TD STYLE="text-align: justify">Paid-in <FONT STYLE="font-size: 11pt">capital</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As at 31 December 2022, paid-in capital represents
2,200,000,000 authorized, issued and fully paid shares with a par value of 1 TL each (31 December 2021: 2,200,000,000 and 1 TL).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Company&rsquo;s issued capital is 2,200,000
TL which is authorized share capital.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Shareholders&rsquo; structure is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 41%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 12%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 15%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 3%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 12%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 15%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Share ratio</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Share amount</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Share ratio</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Share amount</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>&nbsp;(%)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>TL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>&nbsp;(%)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>TL</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Public Share</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">53.95</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">1,187,004</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">53.95</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">1,187,004</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">TVF BTIH</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">26.2</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">576,400</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">26.2</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">576,400</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">IMTIS Holdings</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">19.8</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">435,600</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">19.8</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">435,600</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">0.05</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">996</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">0.05</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">996</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Total</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>100</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>2,200,000</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>100</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>2,200,000</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Inflation adjustment to</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;share capital</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52,352)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52,352)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Inflation adjusted capital</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>2,147,648</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>2,147,648</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As at 31 December 2022, total number of shares
pledged as security is 995,509 (2021: 995,509).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">26.2</TD><TD STYLE="text-align: justify">Treasury shares</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The Company purchased 816,290 TL of its shares
on-market with prices ranging from 12.09 to 12.35 TL in accordance with the share buyback decisions made on 27 July 2016 and 30 January
2017. During 2022, there are not any shares buyback transactions executed. (2021: None). Treasury shares are recognized by deducting from
equity.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">26.3</TD><TD STYLE="text-align: justify">Share <FONT STYLE="font-size: 11pt">premiums</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">Share premiums represent the cash inflows
obtained as a result of selling the shares at market prices. These premiums are recognized under equity and are not subject to distribution.
However it can be used for future capital increases.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">26.4</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Reserves</FONT></TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">The legal reserves consist of initial
and secondary reserves in accordance with the TCC. The TCC stipulates that the initial legal reserve is appropriated out of statutory
profits at the rate of 5% per annum, until the total reserve reaches 20% of a company&rsquo;s paid-in capital. The secondary legal reserve
is appropriated at the rate of 10% per annum of all cash dividends in excess of 5% of the paid-in capital to make dividend distribution
in accordance with the CMB&rsquo;s announcement, however the legal records it is appropriated at the rate of 11% per annum of all cash
dividends in excess of 5% of the paid-in capital in accordance with the legal records. The initial and secondary legal reserves can only
be used to offset losses and are not available for any other usage unless they exceed 50% of paid-in capital.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">As at 31 December 2022, the Company&rsquo;s
reserves consist of legal reserves. The total amount of the Company&rsquo;s legal reserves is 3,948,937 TL(31 December 2021: 3,612,388
TL).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">26</TD><TD STYLE="text-align: justify">PAID-IN CAPITAL, LEGAL RESERVES VE OTHER EQUITY ITEMS (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">26.5</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Dividends</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">At the General Assembly held on 16 June 2022,
it was decided to distribute gross 1,257,775 TL part of the distributable profit of the Company for the year ended 31 December 2021 to
the shareholders on 26 July 2022 in cash, as 0.5717 gross for each share with a nominal value of 1 TL. The amount was paid to the shareholders
on the relevant date (31 December 2021: 2,585,787 TL).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">26.6</TD><TD STYLE="text-align: justify">Non-<FONT STYLE="font-size: 11pt">controlling</FONT> interests</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The portion of subsidiaries' net assets which
are not directly or indirectly controlled by the parent company, are classified under the &quot;Non-controlling interests&quot; in the
consolidated statement of financial position.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The portion of subsidiaries' net income or loss
that belong to non-controlling interests are classified under the &quot;Non-controlling interests&quot; in the consolidated statement
of profit or loss.</P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">27</TD><TD STYLE="text-align: justify">REVENUE AND <FONT STYLE="font-size: 11pt">COST</FONT> OF REVENUE</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">27.1</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Revenue</FONT></TD></TR></TABLE>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 6pt 14.2pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 14.2pt 6pt 0">Revenue for the year ended 31 December 2022 and 2021 is as
follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 12pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Turkcell Turkey</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Turkcell International</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Techfin</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Intersegment <BR> Eliminations</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Consolidated</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2022</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2021</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2022</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2021</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2022</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2021</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2022</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2021</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2022</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2021</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 8pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2022</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: right">2021</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; font-size: 8pt; text-align: left; padding-left: 3.5pt">Telecommunication services</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: right">38,403,988</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: right">25,791,341</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: right">6,007,115</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: right">3,479,631</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: right">(90,607</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">)</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: right">(66,525</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">)</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: right">44,320,496</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: right">29,204,447</TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 8pt; text-align: left; padding-left: 3.5pt">Equipment related revenue</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">2,158,917</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">1,257,639</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">135,994</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">120,113</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">3,570,404</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">2,832,180</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">(20,211</TD><TD STYLE="font-size: 8pt; text-align: left">)</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">(49,219</TD><TD STYLE="font-size: 8pt; text-align: left">)</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">5,845,104</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">4,160,713</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 8pt; text-align: left; padding-left: 3.5pt">Revenue from financial <BR> services</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">1,849,132</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">1,075,742</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">(140,624</TD><TD STYLE="font-size: 8pt; text-align: left">)</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">(61,846</TD><TD STYLE="font-size: 8pt; text-align: left">)</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">1,708,508</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">1,013,896</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 8pt; text-align: left; padding-left: 3.5pt">Call center revenue</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">88,111</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">46,268</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">46,262</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">48,060</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">762,524</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">540,553</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">(99,520</TD><TD STYLE="font-size: 8pt; text-align: left">)</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">(65,313</TD><TD STYLE="font-size: 8pt; text-align: left">)</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">797,377</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; text-align: right">569,568</TD><TD STYLE="font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 8pt; text-align: left; padding-bottom: 1pt; padding-left: 3.5pt">Other sales revenue</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">200,054</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">128,295</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">164,232</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">102,277</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">&mdash;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">2,709,561</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">1,557,286</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(1,866,845</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">)</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">(815,940</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">)</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">1,207,002</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right">971,918</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 3.5pt">Total</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: right">40,851,070</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: right">27,223,543</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: right">6,353,603</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: right">3,750,081</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: right">1,849,132</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: right">1,075,742</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: right">7,042,489</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: right">4,930,019</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: right">(2,217,807</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: right">(1,058,843</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: right">53,878,487</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; font-weight: bold; text-align: right">35,920,542</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
  </TABLE>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">27</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">REVENUE</FONT> AND COST OF REVENUE (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">27.1</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Revenue</FONT> (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8.5pt"><B>31 December 2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 29%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Turkcell Turkey</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 12%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Turkcell International</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Techfin</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Other</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 12%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Intersegment eliminations</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 12%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Consolidated</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><B>Telecommunication Services</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;38,403,988 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;6,007,115 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;(90,607)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;44,320,496 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>At a point in time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;291,598 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;47,884 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(122)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;339,360 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>Over time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;38,112,390 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;5,959,231 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(90,485)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;43,981,136 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><B>Equipment Related</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;2,158,917 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;135,994 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;3,570,404 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;(20,211)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;5,845,104 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>At a point in time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,898,025 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;135,994 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-&nbsp;&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;3,570,404 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(20,211)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;5,584,212 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>Over time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;260,892 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-&nbsp;&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;260,892 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><B>Revenue from financial operations</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;1,849,132 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;(140,624)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;1,708,508 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>At a point in time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;878,186 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(140,619)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;737,567 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>Over time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;970,946 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(5)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;970,941 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><B>Call Center</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;88,111 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;46,262 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;762,524 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;(99,520)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;797,377 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>At a point in time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>Over time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;88,111 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;46,262 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;762,524 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(99,520)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;797,377 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><B>Other</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;200,054 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;164,232 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;2,709,561 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;(1,866,845)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;1,207,002 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>At a point in time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;3,281 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;4,077 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;54,602 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(6,160)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;55,800 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>Over time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;196,773 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;160,155 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,654,959 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(1,860,685)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,151,202 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;40,851,070 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;6,353,603 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;1,849,132 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;7,042,489 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;(2,217,807)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;53,878,487 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>At a point in time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,192,904 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;187,955 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;878,186 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;3,625,006 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(167,112)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;6,716,939 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>Over time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;38,658,166 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;6,165,648 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;970,946 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;3,417,483 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(2,050,695)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;47,161,548 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8.5pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Turkcell Turkey</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Turkcell International</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Techfin</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Other</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Intersegment eliminations</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Consolidated</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><B>Telecommunication Services</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;25,791,341 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;3,479,631 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;(66,525)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;29,204,447 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>At a point in time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;229,120 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;26,085 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(1)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;255,204 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>Over time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;25,562,221 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;3,453,546 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(66,524)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;28,949,243 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><B>Equipment Related</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;1,257,639 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;120,113 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;2,832,180 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;(49,219)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;4,160,713 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>At a point in time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,035,373 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;120,113 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,832,180 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(49,219)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;3,938,447 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>Over time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;222,266 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-&nbsp;&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;222,266 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><B>Revenue from financial operations</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;1,075,742 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;(61,846)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;1,013,896 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>At a point in time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;441,404 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(61,846)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;379,558 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>Over time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;634,338 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-&nbsp;&nbsp;</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;634,338 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><B>Call Center</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;46,268 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;48,060 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;540,553 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;(65,313)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;569,568 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>At a point in time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>Over time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;46,268 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;48,060 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;540,553 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(65,313)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;569,568 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><B>Other</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;128,295 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;102,277 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;1,557,286 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;(815,940)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;971,918 </B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>At a point in time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;6,013 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;351 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;46,625 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(2,953)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;50,036 </I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>Over time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;122,282 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;101,926 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>-</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,510,661 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(812,987)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;921,882 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;27,223,543 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;3,750,081 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;1,075,742 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;4,930,019 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;(1,058,843)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>&nbsp;35,920,542 </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>At a point in time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;1,270,506 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;146,549 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;441,404 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,878,805 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(114,019)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;4,623,245 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>Over time</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;25,953,037 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;3,603,532 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;634,338 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;2,051,214 </I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;(944,824)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;31,297,297 </I></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 14.2pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">27</TD><TD STYLE="text-align: justify">REVENUE AND COST OF REVENUE (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">27.2</TD><TD STYLE="text-align: justify">Cost of <FONT STYLE="font-size: 11pt">revenue</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 14.2pt 6pt 0">Cost of revenue the year ended for 31 December 2022 and 2021
is as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 63%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Depreciation and amortization </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9,478,012)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7,291,913)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Cost of goods sold </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5,651,973)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,377,966)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Treasury share </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,084,897)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,816,508)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Personnel expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3,293,808)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,085,343)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Interconnection and termination expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3,265,242)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,608,009)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Radio expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,965,792)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,258,037)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Frequency expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,497,117)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,032,410)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Transmission expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(809,970)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(565,820)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Internet expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(643,275)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(353,386)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Roaming expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(610,932)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(340,282)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Universal service fund </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(568,470)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(388,817)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Cost of revenue from financial services </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(565,229)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(223,050)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Other </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(3,353,925)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(1,888,433)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(36,788,642)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(25,229,974)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As at 31 December 2022, depreciation and amortization
expenses include depreciation and amortization expenses related to the financial services amounting to 74,630 TL (31 December 2021: 66,798
TL).</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As at 31 December 2022, cost of revenue from financial
services includes employee benefit expenses related to the financial services amounting to 71,133 TL (31 December 2021: 31,722 TL).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">28</TD><TD STYLE="text-align: justify">GENERAL ADMINISTRATIVE EXPENSES, MARKETING EXPENSES</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">28.1</TD><TD STYLE="text-align: justify">General <FONT STYLE="font-size: 11pt">Administrative</FONT> Expenses</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">General administrative expenses at
the end of the year 31 December 2022 and 2021 as follows:</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Personnel expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,023,709)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(617,850)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Consultancy expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(121,307)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88,534)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Service expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83,805)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44,971)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Maintenance and repair expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47,766)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27,419)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Collection expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46,786)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38,224)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Travel and entertainment expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34,735)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17,938)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Other </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(160,913)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(84,087)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(1,519,021)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(919,023)</B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

<!-- Field: Page; Sequence: 112 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">28</TD><TD STYLE="text-align: justify">GENERAL ADMINISTRATIVE EXPENSES AND MARKETING EXPENSES (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">28.2</TD><TD STYLE="text-align: justify">Marketing Expenses</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">Marketing, sales and delivery expenses
at the end of the year 31 December 2022 and 2021 as follows:</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 62%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Personnel expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,255,283)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(779,470)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Marketing expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,031,669)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(733,381)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Selling expenses </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(229,204)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163,974)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Other </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(183,921)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101,658)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(2,700,077)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(1,778,483)</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">29</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">OTHER OPERATING</FONT> INCOME / EXPENSES</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">29.1</TD><TD STYLE="text-align: justify">Other <FONT STYLE="font-size: 11pt">Operating</FONT> Income</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Other operating income at the end of the year 31 December 2022 and 2021
as follows:</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 59%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Foreign exchange gain, net</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;5,913,287 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;6,097,168 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Interest income from time deposits with&nbsp;&nbsp;&nbsp;<BR>
&nbsp;&nbsp;maturity of less than 3 months</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,219,162 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;658,482 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Interest income from overdue payments</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;233,440 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;186,700 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;196,104 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;135,345 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>7,561,993</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>7,077,695</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">29.2</TD><TD STYLE="text-align: justify">Other <FONT STYLE="font-size: 11pt">Operating</FONT> Expenses</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Other operating expenses at the end of the year 31 December 2022 and 2021
as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Revaulation tax expense (*)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(253,945)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(156,577)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Donation expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(152,909)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(89,481)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Litigation provision and penalty expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(118,035)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(313,049)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Revaluation of fixed asset dismantling, moving and restoration</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(99,055)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(12,083)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Discount expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(34,497)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(47,697)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Restructuring expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(8,703)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(5,993)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Supplementary contributions to retailers</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(2,510)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(4,492)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Interest expenses related with legal cases</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(148)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(542)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(91,324)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(38,162)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(761,126)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(668,076)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">(*) It consists of 2% tax expense paid over the
value increase resulting from the revaluation of the properties and depreciable economic assets which are registered in statutory books.
(Note 32).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">30</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">INVESTMENT</FONT> INCOME</TD></TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 59%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Fair value difference of financial investments</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;863,852 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Foreign exchange gain, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;395,383 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;234,756 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Discount income / (expense) on consideration <BR>
in relation to acquisition of BeST</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;342,380 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;70,514 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Gain on sales of fixed asset, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;114,247 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;109,489 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Interest income on financial investments</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;53,053 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;43,086 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;10,975 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;6,271 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;1,779,890 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;464,116 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">(*) Fair value difference of financial investments mainly consist of fair
value difference of currency protected time deposits.</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">31</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">FINANCIAL</FONT> INCOME AND EXPENSES</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">31.1</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Financial</FONT> Income</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify">Financial income at the end of the year
31 December 2022 and 2021 as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 59%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Fair value gains / (losses) and interest <BR>
on derivative instruments, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,258,961 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Gain on cash flow hedges reclassified to profit or loss</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,631,491 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other interest income</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;210,775 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;160,630 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;210,775 </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;3,051,082 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">31.2</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Financial</FONT> Expenses</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify">Financial expenses at the end of the
year 31 December 2022 and 2021 as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 59%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Foreign exchange losses, net (*)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(10,143,113)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(11,870,467)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Net interest expenses from financial assets <BR>
and liabilities measured at amortized cost</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(3,111,003)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(1,198,628)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Fair value and interest gain from derivatives instruments, net</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(319,212)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Gain on cash flow hedges reclassified to profit or loss</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;61,463 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(187,946)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(126,618)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(13,699,811)</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(13,195,713)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify">(*) Net foreign exchange losses within
financial expenses mainly consist of foreign exchange loss from bank borrowings and issued debt instruments as at 31 December 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">32</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">INCOME</FONT> TAXES</TD></TR></TABLE>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify">Tax income included in at the end of
the period 31 December 2022 and 2021 as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 60%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Current income tax expense </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(530,581)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(681,513)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&nbsp;Deferred tax income </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;4,046,681 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,171,697 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;3,516,100 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;490,184 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Total tax income originated from continuing operations.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">a)</TD><TD STYLE="text-align: justify">Corporate tax</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">The amount of 243,485 TL recognized in current
tax liability represents tax liability calculated for the period ended 31 December 2022 less temporary tax payments made during the year
(31 December 2021:241,686 TL).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Turkish tax regulations does not allow the parent
company to prepare tax return over the consolidated financial statements and subsidiaries. Therefore tax provisions reflected int he financial
statements calculated seperately for companies included in full consolidation.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">In Turkey, there is no procedure for a final and
definitive agreement on tax assessments. Companies file their tax returns by the end of the fourth month following the closing of the
accounting year to which they relate. Corporate tax payment is made by the end of the month in which the tax return is filed. The tax
authorities may, however, examine such returns and the underlying accounting records, and may revise assessments within a five-year period.
Advance tax returns are filed on a quarterly basis.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">In Turkey, the transfer pricing provisions have
been stated under Article 13 of Corporate Tax Law with the heading of &ldquo;disguised profit distribution via transfer pricing&rdquo;.
The General Communiqu&eacute; on disguised profit distribution via Transfer Pricing, dated 18 November 2007 sets out the details of implementation.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">If a taxpayer enters into transactions regarding
the sale or purchase of goods and services with related parties, where the prices are not set in accordance with arm's length principle,
then related profits are considered to be distributed in a disguised manner through transfer pricing. Such disguised profit distributions
through transfer pricing are not accepted as tax deductible for corporate income tax purposes.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The deduction of 100% of the research and development
expenses is allowed when the taxpayers are made these expenditures exclusively for new technology and information researches.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">On 22 April 2021, a temporary article is
added to the Turkey&rsquo;s Corporate Tax Law No. 5220 which was published in the Official Gazette. The Law increases the corporate tax
rate under Corporate Tax Law from the current 20% rate to 25% for the tax year 2021 and to 23% rate for the tax year 2022; the change
took effect on the Law&rsquo;s date of publication. It is expected to continue with 20% afterwards. However, with the publication of the
Law No. 7394 in the Official Gazette dated 15 April 2022, banks, consumer finance companies, factoring and financial leasing companies,
electronic payment and money institutions, authorized foreign exchange institutions, asset management companies, capital market institutions,
insurance and reinsurance companies The corporate tax rate for pension companies has been permanently increased to 25%, and this change
will be valid for returns to be submitted after 1 July 2022.</P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">32</TD><TD STYLE="text-align: justify">INCOME TAXES (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">a)</TD><TD STYLE="text-align: justify">Corporate tax (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">7532 Law on amending the Tax Procedure
Law and Corporate Tax Law was enacted on 20 January 2022. It has been decided that the financial statements will not be subject to inflation
adjustment in the 2021 and 2022 accounting periods, including the provisional accounting periods, and in the provisional tax periods of
the 2023 accounting period, regardless of whether the conditions for the inflation adjustment within the scope of the Repeated Article
298 are met. In line with the Law No. 7352, inflation adjustment will be applied to the financial statements dated 31 December 2023, and
the profit/loss difference arising from the inflation adjustment will not be taxed.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">Dividend payments of Turkish resident
corporations to Turkish real persons, foreign corporations and foreign real persons are subject to 10% withholding tax. It is possible
to apply reduced withholding tax rate for dividend payments made to abroad, under the scope of provisions of an applicable double taxation
treaty.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">Dividend income of Turkish taxpayers
received from other Turkish taxpayers is exempted from corporate tax. However, dividends received from participation shares and stocks
of fund and investment partnerships cannot utilize from this exemption.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">The earnings arising from the sale
of founding shares, redeemed shares and priority rights, which the institutions have for at least two full years in their assets are exempted
from corporate tax for 75%. The earnings arising from the sale of immovables, which the institutions have for at least two full years
in their assets are exempted from corporate tax for 50%. The exempted earnings are transferred to another account in any way other than
being added to the capital within five years or withdrawn from the business or taxes not accrued on time due to the exception applied
for the part transferred to the head office by limited taxpayer institutions are considered to be lost. The sales must be collected until
the end of the second calendar year following the sale.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">Reconciliation of income tax expense at 31 December
2022 and 2021 are as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 65%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-size: 11pt"><B>Reconciliation of tax expense </B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Profit from continuing operations before income tax expense </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;7,536,134 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;4,541,094 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Tax expense calculated over legal tax rate&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(1,733,311)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(1,135,274)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Difference in overseas tax rates </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;102,512 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;16,711 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Effect of amounts which are not deductible and permanent&nbsp;&nbsp;differences </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(242,700)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(467,266)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Effect of exemptions (**) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;752,225 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;231,817 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Unrecognized deferred tax assets (***) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(333,765)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(17,970)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Revaluation effect of tangible and intangible assets (*)&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;4,775,742 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,641,145 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Adjustments for current tax of prior years&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;6,101 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(5,115)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Effect of legal tax rate change on deferred tax </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;181,878 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;237,709 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Deferred tax on investment in subsidiaries </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;10,712 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(13,514)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Other </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(3,294)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,941 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt"><B>Total tax expense </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;3,516,100 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;490,184 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.15pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">32</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">INCOME</FONT> TAXES (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">a)</TD><TD STYLE="text-align: justify">Corporate tax (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 6.5pt 0; text-align: justify">(*) With the article 52 of the Law No. 7338 published
in the Official Gazette on 26 October 2021 Within the scope of the regulation added as the Temporary Article 32 of the Tax Procedure Law
No. 213, axpayers who can make revaluation within the scope of the paragraph (&Ccedil;) added to the Repeated Article 298 of the same
Law can revalue their immovables and other depreciable economic assets (excluding real estate and economic assets subject to the sale-lease-repurchase
transaction or the issuance of lease certificates as long as they maintain these qualities) stated in their balance sheets as of the end
of the accounting period before the accounting period in which they will revalue for the first time, under the conditions specified in
the article. The covered assets will be valued with the D-PPI rate and tax will be paid in 3 installments (at two-month intervals) at
the rate of 2% over the value increase amount. For revalued assets, the valuation difference can be depreciated and written off as an
expense. Within the scope of the said amendment, deferred tax asset has been recognized in the statement of financial position based on
the revaluation records for fixed assets in the legal book, and the deferred tax income related to this asset has been recognized in the
consolidated statement of profit or loss (31 December 2021: Revaluation was carried out within the scope of Law No. 7326).</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 6.5pt 0; text-align: justify">Income or corporate taxpayers, who are subject
to full liability and keep books on the balance sheet basis (Except for those who make inflation adjustments within the scope of subparagraph
(9) of subparagraph (A), regardless of the conditions in subparagraph (1) of the aforementioned paragraph, and those who are allowed to
keep their records in a currency other than Turkish currency including Unlimited liability, limited partnerships and ordinary partnerships),
can revalue their depreciable economic assets (except for those that are subject to a sell-lease-repurchase transaction or issuance of
lease certificates, as long as they maintain these qualifications) recognized in their balance sheets and the depreciation recognized
in the liabilities of their balance sheets, in accordance with the conditions specified in the article, at the end of the accounting periods
in which the conditions for making inflation adjustments are not met. In revaluation, the values of economic assets and their depreciation,
which are determined in accordance with the valuation provisions of this Law and included in the statutory books as of the end of the
accounting period in which the valuation will be made, are taken into account. The values after revaluation of economic assets are calculated
by multiplying the values determined in this way and their depreciation with the revaluation rate of the year in which the revaluation
will be made. Taxpayers who subject their economic assets to revaluation within the scope of this article continue to depreciate these
assets over the values reached after the revaluation.Within the scope of the said amendment, deferred tax asset has been recognized in
the statement of financial position based on the revaluation records for fixed assets in the statutoy book, and the deferred tax income
related to this asset has been recognized in the consolidated statement of profit or loss.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 6.5pt 0; text-align: justify">(**) Discounts and exceptions for the period
of 31 December 2022, mainly consist of R&amp;D discounts.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 6.5pt 0; text-align: justify">(***) Mainly comprises of unused tax losses for
which no deferred tax asset has been recognized.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify"><B>Income tax relating to each component of
other comprehensive income:</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 43%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 21%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Other comprehensive income before tax </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 14%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Tax effect </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Other comprehensive income after tax </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Foreign currency translation differences</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;378,459 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(538,429)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(159,970)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Change in cash flow hedge reserve</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;364,888 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(84,237)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;280,651 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Change in cost of hedging reserve</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;329,403 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(65,881)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;263,522 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Fair value reserve</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(40,116)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;8,023 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(32,093)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Hedges of net investments in foreign operations</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,335,580)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;267,116 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,068,464)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Remeasurements of employee termination benefits</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(950,686)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;191,104 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(759,582)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(1,253,632)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(222,304)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(1,475,936)</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>31 December 2021</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Other comprehensive income before tax </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Tax effect </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Other comprehensive income after tax </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Foreign currency translation differences</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,410,295 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(861,143)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;1,549,152 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Change in cash flow hedge reserve</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;197,211 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(55,912)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;141,299 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Change in cost of hedging reserve</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,185,074)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;237,015 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(948,059)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Fair value reserve</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(65,494)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;13,099 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(52,395)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Hedges of net investments in foreign operations</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,558,374)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;311,675 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,246,699)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Remeasurements of employee termination benefits</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(163,588)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;32,276 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(131,312)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(365,024)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(322,990)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;(688,014)</B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">32</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">INCOME</FONT> TAXES (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">b)</TD><TD STYLE="text-align: justify">Deferred tax</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.15pt 6pt 0; text-align: justify">Deferred tax liability or assets are
determined by calculating the tax effects of temporary differences between the values of assets and liabilities shown in the financial
statements and the amounts taken into account in the calculation of legal tax base, according to the balance sheet method. Deferred tax
liability or assets are reflected in the consolidated financial statements by taking into account the tax rates that are expected to be
valid in the future periods when the temporary differences will disappear.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.15pt 6pt 0; text-align: justify">The Group considers factors such as developments
in the sector in which it operates, future taxable profit estimations, macroeconomics and political situation in Turkey and the countries
in which its subsidiaries are located, and/or international macroeconomics and political situation that may affect the Group, while reflecting
deferred tax assets in the financial statements.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.15pt 6pt 0; text-align: justify">Deferred tax assets and liabilities at
31 December 2022 and 2021 are attributable to the following:</P>

<P STYLE="font: 9pt/13pt Times New Roman, Times, Serif; margin: 6.5pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Deferred Tax Assets </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Deferred Tax Liabilities </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Net Deferred Tax Assets/Lia. </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 35%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>31 December 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>31 December 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;Depreciation and capitalization <BR>
&nbsp;&nbsp;&nbsp;difference related with <BR>
&nbsp;&nbsp;&nbsp;property, plant and equipment and <BR>
&nbsp;&nbsp;&nbsp;intangible assets </FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,324,218 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412,728 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(800,510)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(953,814)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,523,708 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(541,086)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;Subsidiaries </FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(98,257)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(98,257)</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;Derivative instruments </FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29,967 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,922 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;(547,459)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;(520,298)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(517,492)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(514,376)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;Reserve for employee <BR>
&nbsp;&nbsp;&nbsp;&nbsp;termination benefits and <BR>
&nbsp;&nbsp;&nbsp;&nbsp;provisions </FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455,263 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235,581 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7,765)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19,295)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447,498</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216,286</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;Tax losses carried forward </FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,313,498 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,155,781 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,313,498 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,155,781 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;Tax exemptions </FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97,466 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62,692 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97,466</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62,692</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;Other assets and liabilities (*) </FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,075,658 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596,974 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(100,420)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">(105,213)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975,238</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491,761</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt"><B>&nbsp;Deferred tax assets/ <BR>
&nbsp;&nbsp;&nbsp;&nbsp;(liabilities) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;6,296,070 </B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;2,469,678 </B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(1,554,681)</B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(1,598,620)</B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;4,741,389</B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;871,058</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt">&nbsp;Offsetting </FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;(1,304,846)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(670,066)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,304,846 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670,066 </FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 8pt"><B>&nbsp;Net deferred tax assets/ <BR>
&nbsp;&nbsp;&nbsp;&nbsp;(liabilities) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;4,991,224 </B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;1,799,612 </B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(249,835)</B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;(928,554)</B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;4,741,389</B></FONT></TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>&nbsp;871,058</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/13pt Times New Roman, Times, Serif; margin: 6.5pt 0; text-align: justify"><B>(*) </B>Mainly comprises deferred taxs
effects of loans, bonds, prepaid expenses and lease liabilities<FONT STYLE="font-family: Times New Roman, Times, Serif">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">32</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">INCOME</FONT> TAXES (cont&rsquo;d)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">b)</TD><TD STYLE="text-align: justify">Deferred tax (cont&rsquo;d)</TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.15pt 6pt 0; text-align: justify">Movement in deferred tax assets/(liabilities)
for the years ended 31 December 2022 and 2021 were as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 62%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">&nbsp;Opening balance, net </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;871,058 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;(501,223)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">&nbsp;Recognized in statement of profit or loss </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;4,046,681 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;1,171,697 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">&nbsp;Recognized in statement of other comprehensive<BR>
&nbsp;&nbsp;&nbsp;&nbsp;income </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;(222,304)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;(322,990)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">&nbsp;Acquisition through business combinations </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;(48,755)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">&nbsp;Exchange differences </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;45,954 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;572,329 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>&nbsp;4,741,389 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>&nbsp;871,058 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.15pt 6pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.15pt 6pt 0; text-align: justify">As of 31 December 2022, the Group did
not recognize deferred tax assets of 7,270,241 TL (31 December 2021: 5,518,647 TL) in respect of tax losses amounting to 1,398,834 TL
(31 December 2021: 1,043,849 TL) that can be carried forward against future taxable income. The unused tax losses were incurred mainly
by Belarusian Telecom.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 1.15pt 6pt 0; text-align: justify">Unused tax losses will expire at the
following dates</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 40%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 55%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10.5pt"><B>Expiration</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 35%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>Amount</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;2023 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;483,247 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;2024 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;826,727 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;2025 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;2,903,840 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;2026 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;227,219 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;2027 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;1,849,040 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;2028 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;411,144 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;2029 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;2030 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;182,827 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;2031 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;227,175 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;2032 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;Indefinite </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;159,022 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>&nbsp;7,270,241 </B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">33</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">EARNINGS</FONT> PER SHARE</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify"><FONT STYLE="font-size: 10.5pt">Profit attributable to owners of the Company</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">11,053,193</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">5,031,098</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt"><I>Weighted average number of shares:</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Weighted average number of ordinary shares (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">2,183,106,193</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">2,183,106,193</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">Earnings per share with a nominal value of &nbsp;0.001 TL</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>5.06</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt"><B>2.30</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10.5pt">&nbsp;&nbsp;&nbsp;(unshortened full TL)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 6pt">(*) For details of Treasury Shares see Note 26.2.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">34</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">FINANCIAL</FONT> INVESTMENTS</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 28.35pt">The details of financial
investments as of 31 December 2022 and 2021 are as follows:</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8.5pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8.5pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 51%; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt">Financial investments measured at amortized cost</FONT></TD>
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Short Term</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Long Term</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Short Term</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>Long Term</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>- Time deposits with maturity more than three months</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt">&nbsp;748,665</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt">&nbsp;4,164 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt">Financial assets measured at fair value through profit or loss</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>748,665</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;4,164 </I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>&nbsp;-</I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>- Currency protected time deposit (**)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt">&nbsp;4,034,897</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt">&nbsp;258,627</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>- Investment funds (***)</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>4,034,897</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-</I></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="text-indent: -5pt; font: 8.5pt Times New Roman, Times, Serif; margin: 0 0 0 5pt">Financial assets measured at fair value through other comprehensive
income</P></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>258,627</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-</I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8.5pt"><I>- Debt securities issued (*)</I></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt">&nbsp;1,850,830</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt">&nbsp;51,166</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt">&nbsp;1,376,645</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>-</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>1,850,830</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>51,166</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><I>1,376,645</I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>4,783,562</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>2,109,457</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>55,330</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8.5pt"><B>1,376,645</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">(*) Debt securities issued are classified as financial
assets at fair value through other comprensive income.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">(**) Currency-protected time deposit accounts are
classified as financial assets at fair value through profit or loss. The Group has converted its foreign currency deposit account amounting
to 123,300 USD and 73,300 EUR into &ldquo;Currency Protected TL Time Deposit Accounts&rdquo;. Maturity of currency protected time deposit
accounts is 1 year.&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 9pt">(***) Investment funds
mainly include Turkcell GSYF, established by </FONT><FONT STYLE="font-size: 8pt">Re-Pie</FONT><FONT STYLE="font-size: 9pt">., and its
associate and financial assets which is carried at fair value and valuation differences are recognized in profit or loss</FONT><FONT STYLE="font-family: Segoe UI,sans-serif; font-size: 10pt">.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">34</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">FINANCIAL</FONT> INVESTMENTS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">The table of fair value of financial investments
as of 31 December 2022 and 2021 is as follows:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Fair Value</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 38%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>31 December <BR>
2021</B></FONT></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Fair value hierarchy</B></FONT></TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>Valuation technique</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Financial assets at fair value <BR>
through other comprehensive income</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,850,830 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;1,427,811 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">Level 1</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">Pricing models based on quoted market prices at the end of the reporting period,</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Financial assets at fair value <BR>
through other comprehensive income</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;19,982 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">Level 1</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">Pricing models based on quoted market prices at the end of the reporting period,</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Financial assets at fair value <BR>
through profit or loss</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;4,034,897 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">Level 2</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">Forward exchange rates at the balance sheet date</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Financial assets at fair value <BR>
through profit or loss</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;238,645 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">Level 3</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">Pricing models based on discounted cash flow</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;6,144,354 </B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>&nbsp;1,427,811 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: left">As of 31 December 2022, the nominal and fair
value amounts of financial assets measured at fair value through other comprehensive income are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>Currency</B></FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Nominal amount</B></FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Fair Value</B></FONT></TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Maturity</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">EUR</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">24,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">472,022</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">16 February 2026</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">EUR</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">15,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">279,082</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">8 July 2027</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">EUR</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">5,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">99,975</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">11 April 2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">3,700</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">73,314</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">31 March 2025</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">21,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">391,211</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">14 July 2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">18,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">308,358</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">25 March 2027</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">5,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">97,785</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">13 November 2025</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">3,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">55,835</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">25 January 2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">1,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">18,540</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">10 August 2024</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">50,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">54,708</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">Indefinite</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>Total financial invesments</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>1,850,830</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 28.35pt">&nbsp;</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0; text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED </P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>
</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">34</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">FINANCIAL</FONT> INVESTMENTS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: left">As of 31 December 2022, the nominal and fair value
amounts of financial assets measured at fair value through profit or loss are as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>Currency</B></FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Nominal amount</B></FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Fair Value</B></FONT></TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Maturity</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">949,475</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">1,236,256</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">10 May 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">704,109</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">950,130</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">27 February 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">701,033</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">820,390</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">15 August 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">436,793</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">511,377</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">16 August 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">230,364</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">299,793</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">11 May 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">185,454</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">216,951</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">2 October 2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>Total financial investments</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>4,034,897</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6.5pt; text-align: left">As of 31 December 2021, the nominal and fair
value amounts of financial assets at fair value through other comprehensive income are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>Currency</B></FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Nominal amount</B></FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Fair Value</B></FONT></TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Maturity</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">EUR</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">1,995</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">31,347</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">16 February 2026</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">EUR</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">15,189</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">216,874</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">8 July 2027</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">24,312</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">25,583</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">2 March 2022</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">24,108</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">25,583</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">2 March 2022</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">21,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">286,017</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">14 July 2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">996</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">13,479</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">10 August 2024</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">19,824</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">250,956</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">14 October 2025</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">2,168</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">27,595</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">26 January 2026</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">25,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">319,874</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">22 June 2026</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">USD</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">18,470</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt">230,503</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">25 March 2027</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt"><B>Total financial invesments</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>1,427,811</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Following gains and losses were recognized under
other comprehensive income during current year:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 65%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021 </B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Gains / (Losses) recognized in other comprehensive income</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Gain/ (loss) related to Financial investment</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(40,116)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(65,494)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Gain/ (loss) related to Financial investment, tax effect</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;8,023 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;13,099 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(32,093)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(52,395)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">35</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">DERIVATIVE</FONT> INSTRUMENTS</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">The fair value of derivative instruments at
31 December 2022 and 31 December 2021 are as follows:</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 42%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Asset</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Liability</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Asset</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 13%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>Liability</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Held for trading</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;794,399 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;131,074 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,181,740 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Derivatives used for hedge accounting</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,199,843 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;21,432 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;999,577 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;60,518 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;1,994,242 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;152,506 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>2,181,317</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>60,518</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At 31 December 2022, short-term derivative assets
of 2,032,416 TL also includes a net accrued interest income of 38,174 TL and the short-term derivative liabilities of 150,923 TL also
includes a net accrued interest expense of 1,583 TL.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At 31 December 2021, the short-term derivative assets
of 2,131,070 TL also includes a net accrued interest expense of 50,247 TL and the short-term derivative liabilities of 71,325 TL also
includes a net accrued interest income of 10,807 TL.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">35</TD><TD STYLE="text-align: justify">DERIVATIVE <FONT STYLE="font-size: 11pt">INSTRUMENTS</FONT> (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Derivatives used for hedge accounting</B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">The notional amount and the fair value of derivatives
used for hedging contracts at 31 December 2022 are as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>31 December 2021</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 26%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Notional value</B></FONT></TD>
    <TD STYLE="width: 4%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 8%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Notional value</B></FONT></TD>
    <TD STYLE="width: 13%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Currency</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>in original currency</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Fair value</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>in original currency</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Fair value</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Maturity date</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Hedge ratio</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="3" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><I>Participating cross currency swap contracts</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 33pt; vertical-align: middle; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left"><FONT STYLE="font-size: 9pt">EUR Contracts</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">233,600</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">203,017</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">300,200</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">174,747</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">October 2025</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">01:01</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-indent: 33pt; vertical-align: middle; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left"><FONT STYLE="font-size: 9pt">EUR Contracts</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">50,711</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">53,612</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">63,365</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">48,443</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">April 2026</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">01:01</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 33pt; vertical-align: middle; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left"><FONT STYLE="font-size: 9pt">USD Contracts</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">165,478</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">560,982</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">206,770</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">523,571</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">April 2026</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">01:01</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="3" STYLE="text-align: left; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 9pt"><I>Cross currency swap contracts</I></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 33pt; vertical-align: middle; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left"><FONT STYLE="font-size: 9pt">RMB Contracts</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">108,148</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">256,943</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">135,134</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">235,617</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">April 2026</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">01:01</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 9pt"><I>Interest rate swap contracts</I></FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 33pt; vertical-align: middle; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: left"><FONT STYLE="font-size: 9pt">USD Contracts</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">120,105</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">103,857</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 15pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">150,075</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(43,319)</FONT></TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">April 2026</FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; padding-right: 9pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">01:01</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; text-align: left; white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; vertical-align: middle"><FONT STYLE="font-size: 9pt"><B>Derivatives used for hedge accounting</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,178,411</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>939,059</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 1.15pt 0 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Participating cross currency swap contracts amount
of 269,624 EUR (2021: 340,220 EUR) includes 1,194,300 TL (2021: 1,170,728 TL) guarantees after the CSA agreement.</P>

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

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

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 1.1pt 6.5pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">35</TD><TD STYLE="text-align: justify">DERIVATIVE <FONT STYLE="font-size: 11pt">INSTRUMENTS</FONT> (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Held for trading</B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">The notional amount and the fair value of derivative
contracts held for trading at 31 December 2022 are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 23%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 4%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Notional value</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 16%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Notional value</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 16%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Currency</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>in original currency</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Fair value</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Maturity date</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>in original currency</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Fair value</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Maturity date</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><I>Cross currency swap contracts</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">USD Contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;18,858 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;243,287 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">March 2023 - November 2025</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;36,572 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;284,868 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">March 2023 - November 2025</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">RMB Contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;25,883 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;57,482 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">April 2026</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;32,342 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;50,842 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">April 2026</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">EUR Contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;24,000 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;168,900 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">December 2022</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><I>Currency swap contracts</I></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">USD Contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;377,435 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;7,673 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">January 2023 - June 2023</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;175,000 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;169,478 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">January 2022 - March 2022</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">EUR Contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;26,900 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;28,699 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">February 2023 - April 2023</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><I>FX swap contracts</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">USD Contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;357,451 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;(3,980)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">January 2023</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;200,000 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;193,504 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">January 2022</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">RMB Contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;148,422 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;1,864 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">January 2023</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><I>Participating cross currency swap contracts</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">USD Contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;27,000 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;75,051 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">November 2025</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;36,000 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;58,890 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">November 2025</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">EUR Contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;53,380 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;254,040 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">April 2026</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;66,700 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;243,478 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">April 2026</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><I>Interest rate swap contracts</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">USD Contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;53,380 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;(791)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">April 2026</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">EUR Contracts</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;- </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;35,000 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">&nbsp;11,780 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">September 2028</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Derivatives held for trading </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>663,325</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>1,181,740</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">35</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">DERIVATIVE</FONT> INSTRUMENTS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Held for trading (cont&rsquo;d)</B></P>

<P STYLE="font: 11pt 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"><B>Fair value of derivative instruments and risk management</B></P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><U>Hierarchy on the presentation of financial
assets and liabilities at their fair values:</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The fair values of financial assets and financial
liabilities are determined and grouped as Level 1, Level 2, Level 3:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Narrow, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Level 1 inputs are quoted prices
(unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Narrow, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Level 2 inputs are inputs, other
than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Narrow, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Level 3 inputs are unobservable
inputs for determine fair value of asset or liability.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.25in; text-align: justify; text-indent: -0.25in">The table below
provides information on fair value measurement of financial assets and liabilities:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Fair value level</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Valuation tecnique</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><B>a)</B> Participating cross currency swap contracts</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt">Level 3</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt">Pricing models based on discounted cash flows calculated in-line with yield curves </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><B>b)</B> Fx swap, currency, interest swap and option contracts</P>
    <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt">Level 2</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt">Pricing models based on discounted cash flows calculated in-line with observable yield curves</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt"><B>c)</B> Currency forward contracts</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt">Level 2</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt">Pricing models based on forward exchange rates at the reporting date</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">There were no transfers between fair value hierarchy
levels during the year.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Since the bid-ask spread is unobservable input; in
the valuation of participating cross currency swap contracts, prices in the bid- ask price range that were considered the most appropriate
were used instead of mid prices, If mid prices were used in the valuation the fair value of participating cross currency swap contracts
would have been 15,892 TL lower as at 31 December 2022 (31 December 2021: 253,788 TL).</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">As of 31 December 2022, the Company has no financial
assets and liabilities carried at fair value on a non-recurring basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">35</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">DERIVATIVE</FONT> INSTRUMENTS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Fair value of derivative instruments and risk management (cont&rsquo;d)</B></P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 14.2pt 0 0"><B>Fair value (cont&rsquo;d):</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">The details of the movement between the opening
and closing balances of derivative instruments with level 3 hierarchy are shown in the table below:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Participating cross currency swap contracts</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Opening balance</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,049,129 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;797,060 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 11pt"><FONT STYLE="font-size: 11pt">Cash flow effect</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(1,124,027)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;45,951 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 11pt"><FONT STYLE="font-size: 11pt">Total gain/loss</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recognized in profit or loss</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,221,600 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;206,118 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Closing balance</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>1,146,702</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>1,049,129</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Net off/Offset</B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company signed a Credit Support Annex (CSA) against
the default risk of parties in respect of a 233,600 EUR participating cross currency swap transaction executed on 15 July 2016 and restructured
respectively on 26 May 2017 and 9 August 2018. Additionally, in the 25 June 2019, The Company signed a new CSA to 32,028 EUR participating
cross currency swap transaction. As per the CSA, the swap&rsquo;s current (mark-to-market) value will be determined on the 10th and 24th
calendar day of each calendar month, and if the mark-to-market value is positive and exceeds a certain threshold, the bank will be posting
cash collateral to the Company which will be equal to an amount exceeding the threshold (i.e. if the mark-to-market value is negative,
the Company would be required to post collateral to the bank by an amount exceeding the threshold).</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">With respect to valuations, on a bi-weekly basis,
a transfer will take place between the parties only if the mark-to-market value changes by at least 1,000 EUR. Following the execution
of CSA, the bank transferred to the Company 330,138 EUR as collateral (31 December 2022: 6,581,268 TL) which was the amount exceeding
the threshold (10,000 EUR) and the Company transferred 270,228 EUR as collateral to the bank (31 December 2022: 5,386,968 TL) which was
the amount exceeding the threshold (10,000 EUR). The Company clarified this with the derivative assets included in the statement of financial
postion because it has the legal right to offset the collateral amount 1,194,300 TL (31 December 2021: 1,170,728 TL) that it recognizes
under the borrowings and intends to pay according to the net fair value. This amount was netted from the borrowings and deducted from
the derivative instruments in the balance sheet. As of 31 December 2022, if this transaction was not conducted, derivative financial instruments
assets, liabilities and borrowings would have been 3,072,349 TL (31 December 2021: 3,167,736 TL), (3,444) TL (31 December 2021: (62,737)
TL) and 17,915,547 TL (31 December 2021: 10,019,141 TL) respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">35</TD><TD STYLE="text-align: justify">DERIVATIVE <FONT STYLE="font-size: 11pt">INSTRUMENTS</FONT> (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.1in 0 0"><B>Fair value of derivative instruments and risk management (cont&rsquo;d)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.1in 0 0"><B>Financial risk management</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt"><B>Market risk</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Group uses various types of derivatives to
manage market risks. All such transactions are carried out within the guidelines set by the treasury and risk management department. Generally,
the Group seeks to apply hedge accounting to manage volatility in profit or loss.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0"><B>Currency risk</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The Group&rsquo;s risk management policy is to
hedge its estimated foreign currency exposure in respect of borrowing payments with various maturities at any point in time. The Group
uses participating cross currency contracts, currency swaps, interest swap contracts, currency forward contracts to hedge its currency
risk, mostly with a maturity of over one year from the reporting date. These contracts are generally designated as cash flow hedges.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company started to apply hedge accounting as of
1 July 2018 for existing participating cross currency swap and cross currency swap transactions in accordance with TFRS 9 hedge accounting
requirement. TFRS 9, also includes new hedge accounting policies that aiming to be convenient with risk management implementation.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The time value of options in participating cross currency
swap contracts are included in the designation of the hedging instrument and are separately accounted for as a cost of hedging, which
is recognized in equity in a cost of hedging reserve. The Group&rsquo;s policy is for the critical terms of the participating cross currency
contracts to align with the hedged item.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Group determines the existence of an economic
relationship between the hedging instruments and hedged item based on the currency, amount and timing of their respective cash flows.
The Group assesses whether the derivative designated in each hedging relationship is expected to be and has been effective in offsetting
changes in cash flows of the hedged item using the hypothetical derivative method.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In these hedge relationships, the main sources of
ineffectiveness are;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">- The effect of the counterparties&rsquo; credit
risk on the fair value of the swap contracts, which is not part of the hedged risk and associated credit risk considered to be very low
at inception in the fair value of the hedged cash flows attributable to the change in exchange rates.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- The entire fair value of the derivative contracts
including currency basis was designated as the hedging instrument in cash flow hedge. The hypothetical derivative is modelled to exclude
the impact of currency basis.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">35</TD><TD STYLE="text-align: justify">DERIVATIVE <FONT STYLE="font-size: 11pt">INSTRUMENTS</FONT> (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Fair value of derivative instruments and risk management (cont&rsquo;d)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>Financial risk management (cont&rsquo;d)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><FONT STYLE="font-size: 11pt"><B>Currency risk </B></FONT><B>(cont&rsquo;d)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s future contracts are designated
as hedging instruments against the spot foreign exchange rate risk (USD/TL) associated with highly probable device purchases. In this
context, the Group started to apply cash flow hedge accounting effective from 10 September 2021. The amount of forward currency contracts
associated within this scope is amounted to 13,763 USD as of 31 December 2022. Profit or loss from cash flow hedges recognized under &ldquo;gain/(loss)
from cash flow hedges&rdquo; in the consolidated statement of other comprehensive income of 2022.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s lease liabilities are designated
as hedging instruments against the spot foreign exchange rate risk (EUR/TL) associated with highly probable EUR telecommunication revenues.
In this context, the Group started to apply cash flow hedge accounting effective from 1 October 2021. The amount of lease liabilities
associated within this scope amounted to 12,474 EUR as of 31 December 2022. Profit or loss from cash flow hedges recognized under &ldquo;gain/(loss)
from cash flow hedges&rdquo; in the consolidated statement of other comprehensive income of 2022.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">The Company designated 290,008 EUR of bank loan,
as hedging instruments in order to hedge the foreign currency risk arising from the translation of net assets of the subsidiaries operating
in Europe from EUR to Turkish Lira. Foreign exchange gains/losses of the related loans are recognized under equity as &ldquo;gains/(losses)
on net investment hedges&rdquo; in order to offset the foreign exchange gains/(losses) arising from the translation of the net assets
of investments in foreign operations to Turkish Lira. The after tax foreign exchange loss recognised under &ldquo;cash flow hedges&rdquo;
in the consolidated statement of other comprehensive income of 2022 in the scope of cash flow hedge amounted to (1,068,464) TL (2021:
(1,246,699) TL).</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>Interest rate risk</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">The Group adopts a policy of ensuring that its
interest rate risk exposure is at a fixed rate. This is achieved partly by entering into fixed-rate instruments and partly by borrowing
at a floating rate and using cross currency and interest rate swaps as hedges of the variability in cash flows attributable to movements
in interest rates. The Group applies a hedge ratio of 1:1.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">The Group determines the existence of an economic
relationship between the hedging instrument and hedged item based on the reference interest rates, tenors, repricing dates and maturities
and the notional or par amounts.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">The Group assesses whether the derivative designated
in each hedging relationship is expected to be effective in offsetting changes in cash flows of the hedged item using the hypothetical
derivative method.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">In these hedge relationships, the main sources
of ineffectiveness are:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">&ndash; The effect of the counterparties&rsquo;
credit risk on the fair value of the swap contracts, which is not part of the hedged risk and associated credit risk considered to be
very low at inception in the fair value of the hedged cash flows attributable to the change in interest rates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">35</TD><TD STYLE="text-align: justify">DERIVATIVE INSTRUMENTS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Fair value of derivative instruments and risk management (cont&rsquo;d)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0 0"><B>Financial risk management (cont&rsquo;d)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0"><FONT STYLE="font-size: 11pt"><B>Interest rate risk </B></FONT><B>(cont&rsquo;d)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 3pt"><B>Cash flow sensitivity analysis for variable-rate instruments</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A reasonable potential change of 100 basis points
in interest rates and 10% change in foreign exchange currency at the reporting date would have increased (decreased) equity and profit
or loss by the amounts shown below. This analysis assumes that all other variables remain constant.</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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Profit or Loss</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Equity, net of tax</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 37%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>100 bp increase</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>100 bp decrease</B></FONT></TD>
    <TD STYLE="width: 2%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>100 bp increase</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 16%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>100 bp decrease</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Participating cross currency swap contracts </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(37,531)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(25,064)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;755,812 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;787,206 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Cross currency swap contracts</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;64,781 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;236,336 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;236,439 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;206,121 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Cash Flow sensitivity (net)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;27,250 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;211,272 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;992,251 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;993,327 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Profit or Loss</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Equity, net of tax</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>100 bp increase</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>100 bp decrease</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>100 bp increase</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>100 bp decrease</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Participating cross currency swap contracts </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,199,942 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;2,230,500 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(620,462)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(1,445,257)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Cross currency swap contracts</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;159,719 </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(33,859)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(220,694)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(186,611)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Cash Flow sensitivity (net)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;1,359,661 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;2,196,641 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(841,156)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;(1,631,868)</B></FONT></TD></TR>
  </TABLE>
<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: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">36</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">BORROWINGS</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Group&rsquo;s foreing currency
risk of borrowings is explained in Note 38.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 57%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 3%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Bank loans</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;8,760,854 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;3,767,585 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Short-term unsecured bank loans</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;8,395,861 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">3,767,585</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Short-term secured bank loans</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;364,993 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Issued debt instruments</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;1,124,712 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>101,938</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Lease liabilities</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;873,277 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>893,055</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Current portion of long term borrowings</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;4,955,284 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>3,340,237</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Current portion of unsecured long-term bank loans</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;4,474,648 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;3,098,826 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Current portion of secured long-term bank loans</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;480,636 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;241,411 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Current portion of long-term issued debt instruments</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;1,007,120 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>745,598</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Long-term bank loans</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;17,945,061 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>13,356,013</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Long-term unsecured bank loans</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;15,653,822 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">13,084,545</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Long-term secured bank loans</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;2,291,239 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">271,468</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Long-term issued debt instruments</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;17,006,088 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>12,560,897</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Long-term lease liabilities</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>2,181,954</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>2,012,810</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;53,854,350 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>36,778,133</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has used loans in accordance with the
loan agreement previously signed with&nbsp;ING Bank N.V.&nbsp;and AB Svensk Exportkredit under the Swedish Export Credit Organization
(&ldquo;EKN&rdquo;) insurance&nbsp;on 18 December 2020. As of 31 December 2022, the Company has used USD 23,750 and USD 25,180 loan on
1 April 2022 and 3 June 2022, respectively, with a fixed interest rate of 1.53%.&nbsp;</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has used loans in accordance with the
loan agreement previously signed with&nbsp;China Development Bank&nbsp;on 7 August 2020.&nbsp; As of 31 December 2022, the Company has
used 100,000 EUR and 52,876 EUR loan on 26 April 2022 and 24 June 2022, respectively, with interest rate of 6M Euribor+2.29% for the EUR
and 40,000 CNY on 29 September 2022 and 29 November 2022 with interest rate of 5.15%.</P>

<P STYLE="font: 11pt 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"><FONT STYLE="font-size: 11pt">Within the scope of
buy-back decisions on 27 July 2016, 30 January 2017 and 24 March 2020, the Company purchased its debt securities issued with a total nominal
value of 37,239 USD as at 31 December 2022</FONT>.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Under CMB approval taken by The Company on 3
November 2022 for issuance of debt securities to 1,000,000 TL, the Company has issued debt securities on 23 November 2022 amounting 500,000
TL with the maturity of 17 May 2023. The remained limit is 500,000 TL from 1,000,000 TL specified total limit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">36</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">BORROWINGS</FONT> (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On 29 September 2022, CMB approval has been taken
by Turkcell &Ouml;deme on issuance of management agreement-based lease certificates in accordance with capital markets legislation in
the domestic market, in Turkish Lira terms, at an amount of up to 1,000,000 TL on various dates and at various amounts without public
offering, as private placement and/or to be sold to institutional investors within one year.&nbsp; On 26 October 2022, after CMB approval
lease certificates amount of up to 1,000,000 TL. The Company has issued lease certificates amounting 150,000 TL with the maturity of 1
February 2023.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On 25 August 2022, CMB approval has been taken by
Superonline on issuance of management aggrement-based lease certificates up to 1,000,000 TL, the Company has issued lease certificates
on 13 September 2022 amounting 200,000 TL with the maturity of 12 December 2022 after this issuance on 13 December 2022 The Company has
issued a new lease certificates amounting 200,000 TL with the maturity of 15 March 2023. Additionally, on 5 January 2023, the Company
has issued management agreement based lease certificates amounting 150,000 TL with the maturity of 5 July 2023 after on 3 February 2023
the Company has issued management agreement baseda new lease certificates amounting 150,000 TL and the remained limit is 700,000 TL specified
total limit 1,000,000 TL.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On 30 December 2021 CMB approval has been taken by
Turkcell Finansman for issuance of debt securities up to 500,000 TL, the Company has issued debt securities on 10 June 2022 A.S amounting
200,000 TL with the maturity of 9 September 2022. On 9 September 2022 the Company has issued another debt securities amounting 250,000
TL with the maturity of 5 December 2022. On 29 September 2022, CMB approval has been taken by Turkcell Finansman with the same conditions
at an amount of up to 1,000,000 TL. The new application was made to the CMB on 2 December 2022 accordingly. Within the scope of this issuance
ceiling, on 6 December 2022, a nominal amount of&nbsp; 250,000 TL coupon debt securities with the maturity of 7 March 2023. The remained
limit is 750,000 TL from specified total limit 1,000,000 TL.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">36</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">BORROWINGS</FONT> (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">The details of loans as at 31 December 2022
and 2021 are as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 21%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 7%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 7%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 7%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Interest rate type</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 5%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Payment period</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 15%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 6%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>TL</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 5%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Payment period</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 14%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 6%; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>TL</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Currency</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Nominal interest rate</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>Nominal interest rate</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Unsecured bank borrowings</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">EUR</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Floating</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2028</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Euribor+2.0%-Euribor+2.3%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">13,673,783</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2028</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Euribor+1.9%-Euribor+2.3%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">9,188,487</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Unsecured bank borrowings</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">12.4%-38.0%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">7,782,214</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">14.8%-29.0%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">3,044,848</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Unsecured bank borrowings</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">USD</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Floating</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2026</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Libor+1.7%-Libor 2.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">3,982,309</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2028</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Libor+2.1%-Libor+2.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">3,639,052</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Unsecured bank borrowings</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2028</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">3.7%-5.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">1,485,067</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2028</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">4.9%-5.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">930,395</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Unsecured bank borrowings</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">UAH</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2024</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">10.0%-21.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">1,429,174</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2024</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">8.0%-10.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">1,712,723</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Unsecured bank borrowings</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">EUR</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">1.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">362,593</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Unsecured bank borrowings</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">USD</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2026</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">171,784</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2030</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">3.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">1,072,858</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Secured bank borrowings</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">USD</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2032</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">1.5%-3.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">2,119,044</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2026</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">152,667</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Secured bank borrowings</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">USD</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Floating</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2028</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Libor+0.6% - Libor+1.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">652,831</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2026</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Libor+1.6% - Libor+1.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">360,212</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Secured bank borrowings</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">UAH</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">16.4%-19.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">364,993</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Issued debt instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">USD</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2028</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">5.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">18,013,208</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2028</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">5.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">13,306,495</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Issued debt instruments</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">TL</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">20.3%-25.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">1,124,712</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">16.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">101,938</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Lease obligations</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">TL</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2048</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">9.8%-45.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">1,207,596</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2048</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">9.8%-45.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">1,262,449</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Lease obligations</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">UAH</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2071</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">7.6%-47.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">1,148,563</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2069</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">7.6%-25.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">1,074,000</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Lease obligations</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">EUR</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2034</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">1.0%-10.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">309,670</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2034</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">1.0%-10.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">303,265</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Lease obligations</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">BYN</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2037</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">11.5%-20.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">309,259</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2028</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">11.5%-15.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">185,618</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 8pt">Lease obligations</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">USD</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">Fixed</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2023-2052</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">3.9%-11.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">80,143</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">2022-2028</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 8pt">3.9%-10.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt">80,533</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>53,854,350</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 8pt"><B>36,778,133</B></FONT></TD></TR>
  </TABLE>
<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: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">37</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">RELATED</FONT> PARTY DISCLOSURES</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 21.3pt 6pt 0; text-align: justify"><B>Transactions with related parties</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><B>Transactions with key management personnel</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">Key management personnel comprise the Group's
members of the Board of Directors and chief officers. There are no loans to key management personnel as of 31 December 2022 and 2021.
The Group provides additional benefits to key management personnel and contributions to retirement plans based on a pre-determined ratio
of compensation.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The benefits paid and provided to key management personnel
as of 31 December 2022 and 2021 are as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 58%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Short-term benefits</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">159,278</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">89,692</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Long-term benefits </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">1,610</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">1,091</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Employee termination benefits </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">798</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">182</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>161,686</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>90,965</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 3pt; text-align: justify"><B>Transactions with other related parties</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Material transactions with related parties as of 31 December 2022 and 2021
are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 58%; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B><U>Revenues:</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">T&uuml;rk Telekom Mobil &#304;leti&#351;im Hizmetleri A.&#350; <BR>
(&ldquo;TT Mobil&rdquo;) (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">607,952</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Enerji Piyasalar&#305; &#304;&#351;letme A.&#350;. (&ldquo;EP&#304;A&#350;&rdquo;)(*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">138,393</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">201,611</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">T&uuml;rk Hava Yollar&#305; A.&#350;. (&ldquo;THY&rdquo;) (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">152,282</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">73,767</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Ziraat Bankas&#305; A.&#350;. (&ldquo;Ziraat Bankas&#305;&rdquo;) (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">61,379</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">47,944</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">G&uuml;ne&#351; Express Havac&#305;l&#305;k A.&#350;. (&ldquo;Sun Express&rdquo;) (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">57,457</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">16,607</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">T&uuml;rk Telekom&uuml;nikasyon A.&#350; (&ldquo;TT&rdquo;)(*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">50,896</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">T&uuml;rksat Uydu Haberle&#351;me Kablo TV ve &#304;&#351;letme A.&#350;.(&ldquo;T&uuml;rksat&rdquo;)(*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">45,760</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">39,732</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">TOGG</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">46,759</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">5,407</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">TVF &#304;FM Gayrimenkul &#304;n&#351;aat ve Y&ouml;netim A.&#350;. (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">43,072</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">1,454</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">T&uuml;rkiye Vak&#305;flar Bankas&#305; TAO (&ldquo;Vak&#305;fbank&rdquo;)(*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">26,826</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">14,633</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">T&uuml;rkiye Halk Bankas&#305; A&#350; (&ldquo;Halkbank&rdquo;) (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">14,773</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">8,225</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">T&uuml;rkiye Hayat ve Emeklilik A.&#350;.(*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">13,080</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">10,479</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Ziraat Kat&#305;l&#305;m Bankas&#305; A.&#350;. (&ldquo;Ziraat Kat&#305;l&#305;m&rdquo;)(*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">8,091</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">3,238</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">BIST (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">4,221</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">11,724</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Sofra</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">1,479</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">1,006</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">19,275</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">16,145</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>1,291,695</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>451,972</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">37</TD><TD STYLE="text-align: justify">RELATED PARTIES (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 3pt; text-align: justify"><B>Transactions with other related parties
(cont&rsquo;d)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 3pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 58%; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B><U>Expenses:</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">EP&#304;A&#350; (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,515,182 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;864,464 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">T&uuml;rk Telekom&uuml;nikasyon A.&#350; (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;666,547 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">TT Mobil (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;568,676 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">&#304;stanbul Takas ve Saklama Bankas&#305; A.&#350;. (&quot;Takasbank&quot;) (*)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;79.862 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;50 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">T&uuml;rksat (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;73,204 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;57,521 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Sofra</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;41,399 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;28,918 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Boru Hatlar&#305; &#304;le Petrol Ta&#351;&#305;ma A.&#350;. (&ldquo;BOTA&#350;&rdquo;) (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;34,278 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;19,290 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">PTT (*)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;21,391 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;14,340 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;54,173 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;15,603 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>3,054,712</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>1,000,186</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">(*) Related parties which TVF and the entities
over which TVF has control directly or joint control or significant influence.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">TVF becomes the largest shareholder of T&uuml;rk
Telekom with 61.68% of the shares as of 31 March 2022. Therefore, companies of T&uuml;rk Telekom has been reported as related party as
of 31 March 2022. Transactions between the Group and T&uuml;rk Telekom are related with telecommunication services.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: left"><B>Financial instruments</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Financial instruments with
related parties as of 31 December 2022 and 31 December 2021 are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 58%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 21%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Time deposits</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;14,178,529 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;7,720,468 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Demand deposits</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;234,117 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;154,291 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Currency protected time deposit (*)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,359,651 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Receivables from reverse repo</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;3,704,160 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Bank loans</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(2,791,256)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(762,613)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Debt securities issued</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(357,497)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(101,938)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Lease liabilities</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(125,381)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(97,336)</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Impairment loss provision</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(20,974)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;(5,001)</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;16,181,349 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;6,907,871 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">(*) The Group has converted its currency deposit
account in Vak&#305;fbank amounting to 15,000 USD and 50,000 EUR into currency protected TL time deposit accounts.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">As of 31 December 2022, the amount of letters
of guarantee given to the related parties is 133,277 TL<BR>
(31 December 2021: 97,135 TL).</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">37</TD><TD STYLE="text-align: justify">RELATED PARTIES (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: left"><B>Financial instruments <FONT STYLE="font-size: 12pt">(cont&rsquo;d)</FONT></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Details of the time deposits at related parties
as of 31 December 2022 and 31 December 2021 are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 58%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 21%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Ziraat Bankas&#305;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;2,003,561 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;2,681,804 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Vak&#305;fbank</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;5,748,392 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;2,205,630 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Halkbank</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;5,140,582 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;2,432,802 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Ziraat Kat&#305;l&#305;m Bankas&#305; A.&#350;. (&quot;Ziraat Kat&#305;l&#305;m&quot;)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,285,994 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;400,168 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;64 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;14,178,529 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;7,720,468 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Details of time deposits as of 31 December 2022
are as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Principal Amount</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Currency</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Effective Interest Rate</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 28%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Maturity</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">187,624</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">USD</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">3.0%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">January 2023</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">3,510,080</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">395,430</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">EUR</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">2.7%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">January 2023</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">7,888,259</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">2,774,821</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">23.9%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">January 2023</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">2,778,946</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">55</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">GBP</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">0.1%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">January 2023</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">1,244</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>14,178,529</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Details of the receivables from reverse repo at
related parties as of 31 December 2022 are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Principal Amount</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Currency</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Effective Interest Rate</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 30%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Maturity</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">120,025</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">EUR</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">2.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">January 2023</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">2,394,311</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">70,000</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">USD</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">3.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">January 2023</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">1,309,849</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>3,704,160</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Details of the bank borrowings at related parties
as of 31 December 2022 are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Principal Amount</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Currency</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Effective Interest Rate</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 28%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Maturity</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">1,802,550</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">13.5% - 19.0%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">January 2023 &ndash;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">October 2023</P></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">1,934,918</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">536,714</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">13.4% - 24.0%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">February 2023 &ndash;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">December 2023</P></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">537,478</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">89,997</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">RMB</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">3.7%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">February 2023</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">241,247</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">35,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">14.8%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">August 2023</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">36,818</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">39,900</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">16.4%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">&nbsp;May 2023</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">40,795</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>2,791,256</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">37</TD><TD STYLE="text-align: justify">RELATED <FONT STYLE="font-size: 11pt">PARTIES</FONT> (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: left"><B>Financial instruments <FONT STYLE="font-size: 12pt">(cont&rsquo;d)</FONT></B></P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify">Details of the debt securities at related
parties as of 31 December 2022 are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Principal Amount</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Currency</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Effective Interest Rate</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 30%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Maturity</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 17%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">200,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">20.8%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">March 2023</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">202,005</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">150,000</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">20.3%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">February 2023</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">155,492</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>357,497</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/115% Times New Roman, Times, Serif; margin: 9pt 0 4pt; text-align: justify">Details of the lease liabilities at related
parties as of 31 December 2022 are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 27%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Currency</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 26%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Effective <BR>
Interest Rate</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 26%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Maturity</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">EUR</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">0.2% - 5.1%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">2022 - 2024</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">74,012</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">TL</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">11.7% - 44.5%</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt">2022 - 2036</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">51,369</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>125,381</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 57%; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B><U>Interest income from related parties:</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Vak&#305;fbank</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;434,446 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;97,296 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Ziraat Bankas&#305;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;192,964 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;88,334 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Halkbank</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;174,477 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;150,389 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Ziraat Kat&#305;l&#305;m</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;33,850 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;321 </FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;46 </FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;1,934 </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>835,783</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>338,274</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B><U>Interest expense from related parties:</U></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Vak&#305;fbank</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">284,524</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">17,889</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Ziraat Bankas&#305;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">60,612</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">4,831</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Halk Varl&#305;k Kiralama A.&#350;. <BR>
(&quot;Halk Varl&#305;k Kiralama&quot;)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">54,188</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">3,644</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Halk Bankas&#305;</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">2,288</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Ziraat Kat&#305;l&#305;m</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">528</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">31</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Other</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">551</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">97</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>402,691</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>26,492</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Revenue from related parties are generally related
to telecommunication, call center and other miscellaneous services. Transactions between the Group and EP&#304;A&#350; are related to
the energy services; transactions between the Group and Sofra are related to meal coupon services; transactions between the Group and
BOTA&#350; are related to infrastructure services; transactions between the Group and Halkbank, Halk Varl&#305;k Kiralama A.&#350;., Ziraat
Bankas&#305;, Ziraat Yat&#305;r&#305;m and Vak&#305;fbank are related to banking services; transactions between the Group and T&uuml;rksat
are related to telecommunication services and transactions between the Group and Borsa &#304;stanbul (BIST) are related to stock market
services. Receivables from related parties are not collateralized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">38</TD><TD STYLE="text-align: justify">NATURE AND LEVEL OF <FONT STYLE="font-size: 11pt">RISKS</FONT> ARISING FROM FINANCIAL INSTRUMENTS</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0"><B>Credit Risk</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The carrying amount of financial assets represents the maximum credit exposure.
The maximum exposure to credit risk at the reporting date is:</P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="3" STYLE=" vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>31 December 2022</B></FONT></TD>
    <TD COLSPAN="4" STYLE=" border-top: Black 1pt solid; border-right: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Receivables </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Other assets (**) </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Deposits at banks </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Derivative instruments </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Receivables from financial services </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Financial investments </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Assets arising from customer contracts </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE=" border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Trade Receivables </B></FONT></TD>
    <TD COLSPAN="2" STYLE=" border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Other Receivables </B></FONT></TD></TR>
  <TR>
    <TD STYLE=" border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Related party</B></FONT></TD>
    <TD STYLE=" border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Non-related party</B></FONT></TD>
    <TD STYLE=" border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Related party</B></FONT></TD>
    <TD STYLE=" border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Non-related<BR>
 party (*)</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="width: 30%; border: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;As of reporting date amount of maximum credit risk <BR>
( A+B+C+D+E) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">76,449</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">6,963,821</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">381,645</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 4%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">39,622</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">25,960,315</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">2,032,416</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">3,561,926</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">6,893,019</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">1,955,996</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;-Amount of maximum risk which is secured by guarantee etc. </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">442,520</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">71,868</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;A. Carrying amount of financial assets which is undue or not impaired </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">58,229</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">5,378,907</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">331,217</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">13,635</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">25,960,315</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">2,032,416</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">3,304,886</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">6,893,019</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">1,955,996</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;B. Carrying amount of financial assets whose conditions have been renegotiated otherwise would be deemed to be overdue or impaired </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">207</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;C. Carrying amount of assets which is overdue but not impaired </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;-Amount which is secured by guarantee etc. </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;D. Carrying amounts of assets which is impaired </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">18,220</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">1,584,914</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">50,428</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">25,780</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">257,040</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;-Overdue (gross book value) </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">18,257</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">2,114,490</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">50,548</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">26,137</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">326,924</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-Impairment (-) </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(37)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(529,576)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(120)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(357)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(69,884)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;-Undue (gross book value) </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">91,012</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">701</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">28,853</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">20,033</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">11,378</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">7,346</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Impairment (-) </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(91,012)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(701)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(28,853)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(20,033)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(11,378)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(7,346)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;E. Items containing off-statement of financial position loans </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 9.5pt">(*) Receivables from Evrensel Projects,
</FONT><FONT STYLE="font-size: 9pt">VAT receivable</FONT> <FONT STYLE="font-size: 9.5pt">and receivables from public administration are
not included in other receivables.</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">(**) Current and non-current deferred VAT are not included in other assets.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">38</TD><TD STYLE="text-align: justify">NATURE AND LEVEL <FONT STYLE="font-size: 11pt">OF</FONT> RISKS ARISING FROM FINANCIAL INSTRUMENTS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0"><B>Credit Risk (cont&rsquo;d)</B></P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="3" STYLE=" vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>31 December 2021</B></FONT></TD>
    <TD COLSPAN="4" STYLE=" border-top: Black 1pt solid; border-right: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Receivables </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Other assets (**) </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Deposits at banks </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Derivative instruments </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Receivables from financial services </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Financial investments </B></FONT></TD>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Assets arising from customer contracts </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE=" border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Trade Receivables </B></FONT></TD>
    <TD COLSPAN="2" STYLE=" border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Other Receivables </B></FONT></TD></TR>
  <TR>
    <TD STYLE=" border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Related party</B></FONT></TD>
    <TD STYLE=" border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Non-related party</B></FONT></TD>
    <TD STYLE=" border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Related party</B></FONT></TD>
    <TD STYLE=" border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;Non-related party (*)</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="width: 31%; border: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;As of reporting date amount of maximum credit risk <BR>
( A+B+C+D+E) </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">175,170</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">4,413,296</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">175,231</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 4%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">19,828</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">18,628,481</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">2,131,070</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">2,152,185</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 6%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">1,431,975</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">1,247,741</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;-Amount of maximum risk which is secured by guarantee etc. </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">240,592</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;A. Carrying amount of financial assets which is undue or not impaired </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">171,725</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">3,188,320</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">139,638</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">14,142</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">18,628,481</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">2,131,070</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">1,865,754</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">1,431,975</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">1,247,741</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;B. Carrying amount of financial assets whose conditions have been renegotiated otherwise would be deemed to be overdue or impaired </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">2-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;C. Carrying amount of assets which is overdue but not impaired </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;-Amount which is secured by guarantee etc. </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;D. Carrying amounts of assets which is impaired </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">3,445</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">1,224,976</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">35,593</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">5,686</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">286,431</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;-Overdue (gross book value) </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">3,493</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">1,785,005</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">35,664</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">6,004</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">366,231</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-Impairment (-) </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(48)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(560,029)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(71)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(318)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(79,800)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;-Undue (gross book value) </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">64,186</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">636</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">12,346</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">12,294</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">16</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">6,241</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Impairment (-) </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(64,186)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(636)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(12,346)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(12,294)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(16)</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">(6,241)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-size: 8pt">&nbsp;E. Items containing off-statement of financial position loans </FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD>
    <TD STYLE=" vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 1pt; padding-left: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 9.5pt">(*) Receivables from Evrensel Projects,
</FONT><FONT STYLE="font-size: 9pt">VAT receivable</FONT> <FONT STYLE="font-size: 9.5pt">and receivables from public administration are
not included in other receivables.</FONT></P>

<P STYLE="font: 9.5pt Times New Roman, Times, Serif; margin: 0">(**) Current and non-current deferred VAT are not included in other assets.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">38</TD><TD STYLE="text-align: justify">NATURE AND LEVEL OF RISKS ARISING FROM FINANCIAL INSTRUMENTS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0"><B>Credit Risk (cont&rsquo;d)</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0 14.2pt 0 0; text-align: justify; text-indent: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As 31 December 2022 and 2021 expected credit loss
from finance sector receivables is as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 14.2pt 0 0; text-align: justify; text-indent: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Not due</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Overdue 0-1 months</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Overdue 1-3 months</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Overdue more than 3 months</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Balance at year end</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">3,324,918</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">180,530</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">31,964</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">114,431</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">3,651,843</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Expected credit loss</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">20,033</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">1,802</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">366</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">67,716</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">89,917</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>31 December 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Not due</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Overdue 0-1 months</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Overdue 1-3 months</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Overdue more than 3 months</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Balance at year end</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">1,878,048</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">232,589</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">20,374</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">113,268</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;2,244,279 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 10pt">Expected credit loss</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">12,294</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">2,163</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">296</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">77,341</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;92,094 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 14.2pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 14.2pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 14.2pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 14.2pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 14.2pt 0 0; text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

<!-- Field: Page; Sequence: 140 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>
</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">38</TD><TD STYLE="text-align: justify">NATURE AND <FONT STYLE="font-size: 11pt">LEVEL</FONT> OF RISKS ARISING FROM FINANCIAL INSTRUMENTS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0"><B>Liquidity Risk</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The table below shows the maturity of the Group&rsquo;s
financial liabilities. Tables are prepared without discounting the financial liabilities and on the basis of the earliest due dates. Tables
include principal and interest payments. When interest rates are variable, the undiscounted amount is calculated using interest curves
at the end of the reporting period. The maturity is determined on the basis of the earliest date the Group has to pay.</P>

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="7" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>31 December 2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap; width: 36%; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;Contractual maturities </B></FONT></TD>
    <TD STYLE="width: 10%; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Carrying amount </B></FONT></TD>
    <TD STYLE="width: 14%; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Total contractual cash flows (=I+II+III+IV) </B></FONT></TD>
    <TD STYLE="width: 10%; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Less than 3 Months (I) </B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;3 months-12 months (II) </B></FONT></TD>
    <TD STYLE="width: 9%; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;1-5 year (III) </B></FONT></TD>
    <TD STYLE="width: 10%; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;More than 5 year (IV) </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;Non-derivative financial liabilities </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Bank loans </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;31,661,199 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(34,847,008)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(4,331,420)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(10,301,938)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(17,548,078)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(2,665,572)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Issued debt instruments </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;19,137,920 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(23,654,946)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(633,264)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,600,863)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(11,915,987)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(9,504,832)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Lease obligations </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;3,055,231 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(5,186,425)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(457,869)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(897,980)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(2,376,995)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,453,581)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Payables to related parties </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;241,310 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(334,850)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(334,850)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Consideration payable in relation to acquisition of BeST &amp; Boyut </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;666,613 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,879,158)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(118,086)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,761,072)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Trade payables (*) </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;6,932,732 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(7,233,483)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(6,336,361)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(752,927)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(144,195)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;Derivative instruments </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Participating Cross Currency Swap and FX swap contracts </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;150,923 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;349,200 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(598)</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;131,178 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;218,966 </FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(346)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="7" STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;Contractual maturities </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Carrying amount </B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Total contractual cash flows (=I+II+III+IV) </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;Less than 3 Months (I) </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;3 months-12 months (II) </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;1-5 year (III) </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;More than 5 year (IV) </B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;Non-derivative financial liabilities </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Bank loans </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;20,463,835 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(22,166,206)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(4,029,860)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(3,234,724)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(13,401,987)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,499,635)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Issued debt instruments </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;13,408,433 </FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(17,479,087)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(104,734)</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(769,750)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(9,360,291)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(7,244,312)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Lease obligations </FONT></TD>
    <TD STYLE="vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;2,905,865 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(4,593,322)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(371,643)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(890,649)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,998,722)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,332,308)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Payables to related parties </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;65,156 </FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(87,294)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(87,294)</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Consideration payable in relation to acquisition of BeST &amp; Boyut </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;761,536 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,339,566)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(79,975)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(1,259,591)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Trade payables (*) </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;4,615,606 </FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(4,812,238)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(4,678,734)</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;(133,504)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>&nbsp;Derivative instruments </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">&nbsp;Participating Cross Currency Swap and FX swap contracts </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;71,325 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;159,206 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;40,113 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;119,093 </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(*) Accruals are not included in trade payables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">38</TD><TD STYLE="text-align: justify">NATURE AND <FONT STYLE="font-size: 11pt">LEVEL</FONT> OF RISKS ARISING FROM FINANCIAL INSTRUMENTS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 3pt 0"><B>Foreign currency risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Foreign currency risk is the risk arising from the
change in the value of any financial instrument depending on the change in the exchange rate. The main foreign currencies are USD, EUR
and RMB that consist of the main risk for the Company. As of 31 December 2022, the Group&rsquo;s exposure to foreign exchange risk, based
on notional amounts, is presented at below table.</P>

<P STYLE="font: 3pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7.5pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7.5pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 43%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 11%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>&nbsp;TL Equivalent </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 5%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>&nbsp;USD </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>&nbsp;EUR </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>&nbsp;RMB </B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>&nbsp;TL Equivalent </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 7%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>&nbsp;USD </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>&nbsp;EUR </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 6%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>&nbsp;RMB </B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">1. Trade receivables</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">929,167</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">25,196</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">22,977</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">500,290</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">14,729</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">20,148</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">2a. Monetary financial assets (Cash and banks accounts included)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">24,436,263</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">561,089</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">673,375</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">194,430</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">14,521,460</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">899,928</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">157,563</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">71,600</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">2b. Non-monetary financial assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">3. Other</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">425,579</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">14,580</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">6,455</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">9,057</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">256,069</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">10,297</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">5,931</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">14,079</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt"><B>4. Current assets (1+2+3)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>25,791,009</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>600,865</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>702,807</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>203,487</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>15,277,819</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>924,954</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>183,642</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>85,679</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">5. Trade receivables</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">6a. Monetary financial assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">6b. Non-monetary financial assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">7. Other</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">1,509</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">69</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">2,672</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">188</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">11</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt"><B>8. Non-current assets (5+6+7)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>1,509</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>69</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>11</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>-</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>2,672</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>188</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>11</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>-</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt"><B>9. Total assets (4+8)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>25,792,518</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>600,934</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>702,818</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>203,487</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>15,280,491</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>925,142</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>183,653</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>85,679</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">10. Trade payables</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">3,385,575</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">109,401</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">17,514</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">369,627</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">2,301,844</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">96,236</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">17,315</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">363,670</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">11. Financial liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">6,887,925</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">151,703</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">183,151</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">149,310</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">5,337,362</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">147,906</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">208,961</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">102,395</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">12a. Other monetary liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">119,351</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">886</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">5,156</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">144,741</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">953</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">8,752</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">12a. Other non-monetary liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt"><B>13. Short-term liabilities (10+11+12)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>10,392,851</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>261,990</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>205,821</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>518,937</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>7,783,947</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>245,095</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>235,028</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>466,065</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">14. Trade payables</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">15. Financial liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">34,794,204</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">1,186,324</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">578,239</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">404,695</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">25,230,031</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">1,248,441</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">521,821</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">344,052</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">16a. Other monetary liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">663,341</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">35,476</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">758,260</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">56,888</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">16b. Other non-monetary liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt"><B>17. Long-term liabilities (14+15+16)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>35,457,545</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>1,221,800</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>578,239</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>404,695</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>25,988,291</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>1,305,329</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>521,821</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>344,052</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt"><B>18. Total liabilities (13+17)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>45,850,396</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>1,483,790</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>784,060</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>923,632</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>33,772,238</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>1,550,424</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>756,849</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>810,117</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt"><B>19. Net asset/(liability) position of off balance sheet derivative (19a-19b)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>10,796,866</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>915,570</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>355,150</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>282,453</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>10,986,492</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>761,825</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>32,022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>167,476</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">19a. Derivative assets</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">18,412,995</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">915,570</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">26,900</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">282,453</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">10,986,492</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">761,825</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">32,022</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">167,476</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt">19b. Derivative liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">7,616,129</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">382,050</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt"><B>20. Loans defined as hedging instruments (*)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">6,287,293</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">13,763</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">302,482</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">4,174,307</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">16,987</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">261,680</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt"><B>21. Net foreign currency asset/(liability) position (9-18+19+20)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>2,973,719</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>46,477</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>133,910</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>437,692</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>3,330,948</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>153,530</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>279,494</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>556,962</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7.5pt"><B>22. Net asset/(liability) position of foreign currency monetary items</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>2,973,719</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>46,477</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>133,910</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>437,692</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>3,330,948</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>153,530</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>279,494</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7.5pt"><B>556,962</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(*) Turkcell, the parent company of the Group, utilized
a loan amounting to 290,008 EUR as a hedging instrument in order to hedge its net investment in subsidiary operating abroad from the foreign
exchange risk arising from the translation into Turkish Lira. Foreign exchange gain/loss of this loan is reccognized amoung &ldquo;net
investment hedge gains/losses on a foreign operation&rdquo; under equity to be deducted from the foreing exchange differences arising
from the translation of the net investments in subsidiary operating abroad.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">38</TD><TD STYLE="text-align: justify">NATURE AND LEVEL OF RISKS ARISING FROM FINANCIAL INSTRUMENTS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0"><B>Sensitivity analysis</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">10% strengthening/weakening of TL, UAH, BYN and EUR
against the following currencies at 31 December 2022 and 2021 would have increased/(decreased) profit or loss before taxation by the amounts
shown below. This analysis assumes that all other variables, in particular interest rates, remain constant.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Exchange Rate Sensitivity Analysis Table</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>31 December 2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Profit/(Loss)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Equity</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; width: 38%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Appreciation of foreign currency</FONT></TD>
    <TD STYLE="width: 14%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Depreciation of foreign currency</FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Appreciation of foreign currency</FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Depreciation of foreign currency</FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 0.25in"><FONT STYLE="font-size: 9pt">1- USD net asset/liability</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86,904 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86,904)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 0.25in"><FONT STYLE="font-size: 9pt">2- Hedged portion of USD risk (-)</FONT></TD>
    <TD STYLE="border: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25,335)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25,335 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>3- USD net effect (1+2)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86,904 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(86,904)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25,335)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25,335 </B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 0.25in"><FONT STYLE="font-size: 9pt">4- EUR net asset/liability</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(266,948)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266,948 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 0.25in"><FONT STYLE="font-size: 9pt">5- Hedged portion of EUR risk (-)</FONT></TD>
    <TD STYLE="border: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25,720)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25,720 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>6- EUR net effect (4+5)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(266,948)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266,948 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25,720)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25,720 </B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 0.25in"><FONT STYLE="font-size: 9pt">7- RMB net asset/liability</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117,328)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117,328 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 0.25in"><FONT STYLE="font-size: 9pt">8- Hedged portion of RMB risk (-)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,600 </FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,600)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>9- RMB net effect (4+5)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117,328)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117,328 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,600 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,600)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>TOTAL (3+6+9)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(297,372)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297,372 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49,455)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49,455 </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Exchange Rate Sensitivity Analysis Table</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Profit/(Loss)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt"><B>Equity</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Appreciation of foreign currency</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Depreciation of foreign currency</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Appreciation of foreign currency</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 9pt">Depreciation of foreign currency</FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 0.25in"><FONT STYLE="font-size: 9pt">1- USD net asset/liability</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191,136 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(191,136)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 0.25in"><FONT STYLE="font-size: 9pt">2- Hedged portion of USD risk (-)</FONT></TD>
    <TD STYLE="border: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17,218)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,995 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>3- USD net effect (1+2)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191,136 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(191,136)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17,218)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,995 </B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 0.25in"><FONT STYLE="font-size: 9pt">4- EUR net asset/liability</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(421,664)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421,664 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 0.25in"><FONT STYLE="font-size: 9pt">5- Hedged portion of EUR risk (-)</FONT></TD>
    <TD STYLE="border: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24,020)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,020 </FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>6- EUR net effect (4+5)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(421,664)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421,664 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24,020)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,020 </B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 0.25in"><FONT STYLE="font-size: 9pt">7- RMB net asset/liability</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(116,071)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116,071 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 0.25in"><FONT STYLE="font-size: 9pt">8- Hedged portion of RMB risk (-)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,960 </FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,960)</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>9-RMB net effect (4+5)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(116,071)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116,071 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,960 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,960)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>TOTAL (3+6+9)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(346,599)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346,599 </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39,278)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43,055 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">38</TD><TD STYLE="text-align: justify">NATURE AND LEVEL OF RISKS ARISING FROM FINANCIAL INSTRUMENTS (cont&rsquo;d)</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0"><B>Sensitivity analysis (cont&rsquo;d)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 1.1pt 6.5pt 0; text-align: justify"><B>Cash flow sensitivity analysis for
variable interest instruments:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of 31 December 2022 and 2021, if the interest rates
increase or decrease by 1 point, the equity and statement of profit or loss will be affected as follows. When analyzing, it is assumed
that all other variables, in particular exchange rates, remain constant.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.75pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the interest rate in Turkish Lira currency had
been 1 basis point higher/lower on 31 December 2022, and all other variables had remained constant, the profit before tax and non-controlling
interests would have been 315,213 TL lower/higher (31 December 2021: 103,782 TL). The change in interest rate would not have a direct
impact on equity, without affecting the profit/loss.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.75pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 47%; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Interest Position</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 28%; border-top: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>1 point increase in interest rates</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Financial Assets</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Financial Liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;(315,213)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;(103,782)</FONT></TD></TR>
  <TR>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-right: black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>1 point decrease in interest rates</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Financial Assets</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Financial Liabilities</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;315,213 </FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10.5pt">&nbsp;103,782 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">After the financial crisis, the reform and replacement
of benchmark interest rates such as USD LIBOR and other Interbank Offer Rates (IBORs) offered by other banks have become a priority for
global regulators. Workings are ongoing for these changes. The Group's direct exposure to interest rate reform is its variable rate debt
of 236,361 USD. After Phase 2 was published in August 2020, the Group has structured cross-currency and interest rate swap transactions
to mitigate the variability of cash flows in the debt due to changes in the 6-month USD LIBOR, which is the current benchmark interest
rate and has hedged this debt. The total nominal amount of these instruments in derivative products is 294,075 USD and the portion for
hedging purposes is 194,837 USD.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The management has formed a committee to oversee the
Group's USD LIBOR transition plan. This transition project will include changes in relevant tax and accounting practices as well as in
systems, processes, risk, and valuation models. The Group anticipates that the biggest changes will be on the terms of contracts used
to update variable rate debt, intercompany swap contracts, and hedging transactions that reference to USD LIBOR.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In calculating the fair value changes attributable
to the Group's hedging reserve for its variable rate debt, the Group has made the following assumptions that reflect its current expectations:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.75pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Narrow, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Given
the Group's 'Probable' requirements, it has assumed that the IBOR reform will not result in any changes to the USD LIBOR interest rate
on which its financial hedging debt is based.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Narrow, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">In assessing
whether the risk management transaction will be effective going forward, the Group has assumed that there will be no changes resulting
from the IBOR reform to the USD LIBOR interest rate on which the cash flows of the financial hedging debt are based and the swap interest
rate on which the financial risk management transactions are based.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Narrow, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">The Group
has not retrospectively changed the risk management fund for the period expected to be affected by the reform.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">38</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">NATURE </FONT><FONT STYLE="font-size: 10pt">AND</FONT> <FONT STYLE="font-size: 11pt">LEVEL
OF RISKS ARISING FROM FINANCIAL INSTRUMENTS (cont&rsquo;d)</FONT></TD></TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify"><U>Level classification of financial assets and
liabilities carried at fair value:</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.75pt 0 0; text-align: justify">The table below analyses financial instruments
carried at fair value, by valuation method. The different levels have been defined Level 1, Level 2 and Level 3 as follows:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.75pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Narrow, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">The information
at Level 1 consists of unadjusted market prices obtained by an entity on the measurement date for identical assets or liabilities traded
in active markets.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Narrow, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Level
2 information is observable information for an asset or liability, other than the exchange price specified in the first level, either
directly or indirectly.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Arial Narrow, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Level
3 information is information that does not rely on observable market data for determining the fair value of an asset or liability.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.75pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.75pt 0 0; text-align: justify">Methods and assumptions used to determine
the fair value of derivative transactions are disclosed in Note 35.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.75pt 0 0; text-align: justify"><B>Effects of valuation inputs to fair
value</B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.75pt 0 0; text-align: justify">The following table summarizes the quantitative
information about the significant unobservable inputs used in Level 3 fair value measurement of contingent consideration.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.75pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Fair value at</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Inputs</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Relationship of unobservable inputs to <BR>
fair value</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>31 December 2021</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 7pt"><B>Unobservable<BR>
Inputs</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: white; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>31 December 2021</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 63px; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>2022</B></FONT></TD>
    <TD STYLE="width: 11px; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 104px; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt"><B>2021</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">Contingent <BR>
consideration </FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt">758,261</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">Risk-adjusted <BR>
discount rate</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt">6.8%-8.0%</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">An increase/decrease in the discount rate <BR>
by 1 p would change FV by (51,092) TL and 55,485 TL, respectively.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">Expected <BR>
settlement <BR>
date</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt">in <BR>
instalments <BR>
between <BR>
2026-2031</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 7pt">If expected settlement date extended/shortened by 1-year, FV would <BR>
change by (53,167) TL and 57,145 TL, respectively.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.75pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 4.75pt 0 0; text-align: justify"><B>Changes in the consideration payable
in relation to acquisition of BeST:</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 61%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Opening balance</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;758,261 </FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">&nbsp;475,879 </FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Total gain and loss:</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-indent: 22pt"><FONT STYLE="font-size: 11pt">Statement of profit or loss</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><I>&nbsp;(758,261)</I></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><I>&nbsp;282,382 </I></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt"><B>Closing balance</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>&nbsp;758,261 </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(*) Note 25 for details.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">38</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">NATURE </FONT><FONT STYLE="font-size: 10pt">AND</FONT> <FONT STYLE="font-size: 11pt">LEVEL
OF RISKS ARISING FROM FINANCIAL INSTRUMENTS (cont&rsquo;d)</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 1.15pt 6.5pt 0; text-align: justify"><B>Valuation inputs and relationships
to fair value (cont&rsquo;d)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">It is assumed that the carrying values and
fair values of financial assets and liabilities held to maturity converge to each other.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Fair value of cash and cash equivalents and
debt securities issued are classified as Level 1 and fair value of other financial assets and liabilities are classified as Level 2.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="font-style: normal"><B>Financial
assets:</B></FONT></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><FONT STYLE="font-style: normal"><B></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Carrying values of a significant portion of financial
assets do not differ significantly from their fair values due to their short-term nature, Fair values of financial assets are presented
in Note 34.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-style: normal"><B>Financial liabilities:</B></FONT></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of 31 December 2022 and 2021; for the majority
of the borrowings, the fair values are not materially different from their carrying amounts since the interest payable on those borrowings
is either close to current market rates or the borrowings are of a short-term nature.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The carrying amounts and fair values of non-current
borrowings and current portion of non-current borrowings are as follows:</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 36%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 10%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Carrying amount</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Fair <BR>
Value</B></FONT></TD>
    <TD STYLE="width: 5%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Carrying amount</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-size: 11pt"><B>Fair <BR>
Value</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Bank loans</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">22,900,345</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">21,453,658</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">16,696,250</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">16,622,479</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Debt securities</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">18,013,208</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">16,573,025</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">13,306,495</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 10pt">13,233,743</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">39</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">SUPPLEMANTARY</FONT> CASH FLOW INFORMATION</TD></TR></TABLE>

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

<P STYLE="font: 5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; width: 31%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Debt <BR>
securities <BR>
issued</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Loans</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Lease <BR>
liabilities</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Derivative <BR>
Assets, net</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 11%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Balance at 1 January 2022</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(13,408,433)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(20,463,835)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,905,865)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(36,778,133)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,059,745</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(34,718,388)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Cash inflows</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,327,594)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(27,656,215)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(29,983,809)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">3,102,658</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(26,881,151)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Cash outflows</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,856,875</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">24,529,166</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">2,243,432</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">29,629,473</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,740,022)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">26,889,451</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Other non-cash movements</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(6,258,768)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(8,070,315)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,392,798)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(16,721,881)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(540,888)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(17,262,769)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Balance at 31 December 2022</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(19,137,920)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(31,661,199)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(3,055,231)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(53,854,350)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>1,881,493</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(51,972,857)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Debt <BR>
securities <BR>
issued</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Loans</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Lease <BR>
liabilities</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Derivative <BR>
Assets, net</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Balance at 1 January 2021</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(7,362,554)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(12,124,982)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,098,886)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(21,586,422)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">798,326</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(20,788,096)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Cash inflows</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(192,157)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(13,033,337)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(13,225,494)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,403,609</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(11,821,885)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Cash outflows</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">645,926</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">12,984,771</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,649,046</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">15,279,743</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(1,718,061)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">13,561,682</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Acquisition through business combination</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(151,892)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(151,892)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(151,892)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt">Other non-cash movements</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(6,499,648)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(8,138,395)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(2,456,025)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(17,094,068)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">1,575,871</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt">(15,518,197)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 9pt"><B>Balance at 31 December 2021</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(13,408,433)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(20,463,835)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(2,905,865)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(36,778,133)</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>2,059,745</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 9pt"><B>(34,718,388)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Translated into English from the report originally issued in Turkish</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>TURKCELL &Idot;LET&Idot;&Scedil;&Idot;M H&Idot;ZMETLER&Idot;
A.&Scedil;.</B></P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt"><B>&#9;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE YEAR ENDED</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">31 DECEMBER 2022</P>

<P STYLE="font: 2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 7.1pt">&nbsp;</P>

<P STYLE="border-bottom: Black 0.5pt solid; font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><I>(</I></FONT><I><FONT STYLE="font-size: 10pt">All
amounts are expressed in thousand of Turkish Lira unless otherwise stated. Currencies other than Turkish Lira are expressed in thousands
unless otherwise stated</FONT><FONT STYLE="font-size: 11pt">.)</FONT></I></P>

<P STYLE="font: 11pt/13pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">40</TD><TD STYLE="text-align: justify">FEES FOR <FONT STYLE="font-size: 11pt">SERVICES</FONT> RECEIVED FROM INDEPENDENT AUDIT FIRM</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; text-align: justify; margin-top: 6pt; margin-right: 0; margin-left: 0">The Group's
explanation regarding the fees for the services received from the independent audit firms, which is based on the letter of POA dated 19
August 2021, the preparation principles of which are based on the Board Decision published in the Official Gazette on 30 March 2021, are
as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 58%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2022</B></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 20%; border-bottom: Black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>31 December 2021</B></FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Audit fee for the reporting period (*)</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">18,989</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">10,009</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt"><FONT STYLE="font-size: 11pt">Fee for other assurance services</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">21</FONT></TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt">77</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>19,010</B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-size: 11pt"><B>10,086</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; text-align: justify; margin-top: 6pt; margin-right: 0; margin-left: 0">(*) Compensations
of foreign currency-denominated subsidiaries abroad have been converted to TL using the annual average exchange rates of the relevant
years.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">41</TD><TD STYLE="text-align: justify">OTHER <FONT STYLE="font-size: 11pt">MATTERS</FONT> MATERIALITY AFFECTING THE CONSOLIDATED FINANCIAL STATEMENTS</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 6pt 0 12pt; text-align: justify">None.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">42</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">SUBSEQUENT</FONT> EVENTS</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">The 7.7 and 7.6 magnitude earthquakes centered
in Kahramanmara&#351;, which occurred in our country on 6 February 2023, effected eleven provinces and caused significant loss of life
and property. The process of evaluating the effects of earthquakes on the Group's activities and consolidated financial statements is
in progress.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; background-color: white">In accordance with
the option provided by the Capital Markets Board's decision dated 9 February 2023, due to the earthquake disaster on 6 February 2023,
epicenter of which was Kahramanmara&#351;, that caused a devastation and loss of lives, Board of Directors of Turkcell has resolved to
make in-kind and/or cash donation and provide all the appropriate benefits and aid up to 3,5 billion TL to the earthquake victims directly
and/or through the Ministry of Interior Disaster and Emergency Management Presidency (&quot;AFAD&quot;), the Turkish Red Crescent (&quot;K&#305;z&#305;lay&quot;)
and/or other institutions and organizations announced by mentioned agencies.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">Turkcell Dijital Teknolojileri Ltd. was established
which Lifecell Digital owns 99.9998% that the Group owns 100% directly, and K&#305;br&#305;s Telekom owns 0.0002%. The company, established
to operate electronic payment services in KKTC, has a capital of 500 TL. The registration and announcement of the establishment were completed
on 26 January 2023.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; background-color: white">Within the scope of
our Board of Directors' share buy-back decisions on 27 July 2016 and the following dates, the Company purchased a total of 1,000,000 shares
at a price range of 33.46 &ndash; 34.00 TL with an average of 33.88 TL totaling 33,884 TL on 17 February 2023.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">On 1 February 2023, Turkcell &Ouml;deme has
issued a new lease certificate amounting up to 150,000 TL with the maturity of 3 May 2023 within the scope of 1,000,000 TL issuance ceiling
approved by the CMB to be sold to institutional investors in domestic market without public offering.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">On 6 March 2023, Turkcell Finansman has issued
a new coupon bond amounting up to 250,000 TL with the maturity of 5 September 2023 within the scope of 1,000,000 TL issuance ceiling approved
by the CMB to be sold to institutional investors in domestic market without public offering.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; text-align: center">Translated into English from the report originally
issued in Turkish</P>

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    <DIV STYLE="break-before: page; 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 0 6pt; text-align: justify">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 11pt"><B>TURKCELL ILETISIM HIZMETLERI A.S.</B> <BR>
<BR></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-size: 11pt">Date:&nbsp;&nbsp;March 9, 2023</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="width: 46%"><FONT STYLE="font-size: 11pt; font-variant: small-caps">&nbsp;</FONT><FONT STYLE="font-size: 11pt"><U>/s/ Ali Serdar Yagci</U></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 11pt">Name:&nbsp;&nbsp;Ali Serdar Yagci<BR>
Title:&nbsp;&nbsp;&nbsp;&nbsp;Investor Relations and Corporate Finance Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 11pt"><B>TURKCELL ILETISIM HIZMETLERI A.S.</B> <BR>
<BR></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Date:&nbsp;&nbsp;March 9, 2023</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt; font-variant: small-caps">&nbsp;</FONT><FONT STYLE="font-size: 11pt"><U>/s/ Kamil Kalyon</U></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 11pt">Name:&nbsp;&nbsp;Kamil Kalyon<BR>
Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer (acting)</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-bottom: 12pt"><FONT STYLE="font-size: 11pt"><B>TURKCELL ILETISIM HIZMETLERI A.S.</B> <BR>
<BR></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%"><FONT STYLE="font-size: 11pt">Date:&nbsp;&nbsp;March 9, 2023</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="width: 46%"><FONT STYLE="font-size: 11pt; font-variant: small-caps">&nbsp;</FONT><FONT STYLE="font-size: 11pt"><U>/s/ Esat Utku Karatay</U></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 11pt">Name:&nbsp;&nbsp;Esat Utku Karatay<BR>
Title:&nbsp;&nbsp;&nbsp;&nbsp;Turkcell Group Reporting &amp; Subsidiaries Management Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<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">&nbsp;</P>

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

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

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

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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




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