[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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Material Event Disclosure General
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Within the scope of our company's high technology orientated investment strategy to increase electrification products and services;
It has been decided to establish a mass production facility in Polatlı/Ankara to produce High Voltage Gas Insulated Switchgear (GIS) under the brand name of Kontrolmatik, and the investment amount is estimated to be approximately 30 Million USD in total in 2 phases.
The R&D, Engineering and prototype studies for the product range to be produced in the facility to be established have been completed for 1.5 years with an expenditure of approximately  5 million USD. The prototypes produced at Kontrolmatik's existing facility have been sent to accredited organisations for the necessary tests to obtain international certification. The tests are expected to be completed in January 2024 and mass production is expected to start in the 2nd quarter of 2024.
In this context, a technology transfer and licence agreement has been signed between our company and Chint Electric Co Ltd for the engineering and production of the product and the installation of the facility within the scope of mass production of 245kV High Voltage Gas Insulated Switchgear product technology in Turkey.
The product range to be produced in the facility to be established is the first of its kind in Turkey and the neighbouring geography at this voltage level and is expected to contribute to the national economy both in terms of import substitution and export input.
In addition, Chint Electric and our company has signed a Letter of intent for strategic partnership for the production of other switchgear and electrification equipment in its product portfolio under the Kontrolmatik brand.

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