[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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Ford Otomotiv Sanayi A.Ş. ("Ford Otosan") and Iveco S.p.A. ("Iveco") have signed a Joint Development Agreement ("Agreement") to collaborate on the development of new heavy truck cabin models, in consideration of the compliance with the EU Direct Vision Standard (GSR D Direct Vision Regulation), which will take effect in 2028, as well as the carbon emission reduction targets.

Under the Agreement, the parties will jointly develop new heavy truck cabins, procure cabin components together where applicable, and manufacture and assemble the cabins at their respective facilities for selling the products under their own brands (Ford Trucks and Iveco). The intellectual property rights of all jointly developed assets under the Agreement will be equally shared by both parties.

The estimated total expenditure to be spent by the parties together under the Agreement is EUR 343 million. This amount covers jointly incurred engineering and development costs, prototype materials, production molds, and other procurement expenses but does not include investment expenditures required for brand-specific design customizations. The Agreement stipulates that engineering costs will be shared equally between the parties, while investment expenditures will ultimately be allocated based on the sales volume ratio of the parties. The first cabins designed under the joint development activities are expected to be ready for production by 2028.

The Agreement will remain in effect until December 31, 2029, with both parties having the right to terminate under certain conditions until November 30, 2026.

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