[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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English
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Material Event Disclosure General
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Explanations
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A share transfer agreement (the "Agreement") between our company and Merit Kıbrıs Turizm Ltd. company ("Buyer") regarding the transfer of the hotel (the "Hotel") whose investment was completed in the TRNC and was being operated under the name of Merit Park Hotel & Casino (the "Hotel") was signed on April 13, 2023. It is envisaged as the most convenient way for the share transfer is to convert our subsidiary Akfen Gayrimenkul Ticareti ve İnşaat A.Ş. ("Akfen GT") into a special purpose company which will be solely holding the Hotel ("Transaction"), Thus, Akfen GT will no longer have any operation or any asset other than the Hotel. Transaction will be completed at a consideration of $70,000,000 ("Variable Share Price") upon enforcement of the conditions set out in the Agreement, obtainment of all legal permissions and execution of a valuation in accordance with the CMB legislation subject to the approval of our Company's Board of Directors.

Related disclosure regarding Transaction will be made in accordance with law throughout the process.

The proceedings of the sale will be utilized for early repayment of EUR 30 million loan as well as for the new and ongoing investments with the remaining portion.

This statement was translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.