[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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[TRCAS]
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Board of Directors of Turcas Petrol A.Ş. ("Company") has resolved to implement the following actions with an aim to improve efficiency and manage subsidiaries & financial resources within the group more effectively:

1) The Company and the Company's 99.99% subsidiary Turcas Enerji Holding A.Ş.'s Board of Directors resolved to sell tradeable buy back shares of the Company, which account for 5.36% of the Company's paid-in capital (14,471,335.909 shares), to Turcas Enerji Holding A.Ş. via Finans Yatırım Menkul Değerler A.Ş. with an aim to effectively manage cash among Group companies in accordance with Capital Markets Board's Communique numbered II-22.1 "Buy Back Shares" article 19, 6th clause. Accordingly, a brokerage agreement was signed between Finans Yatırım Menkul Değerler A.Ş. and the Company. Therefore, Finans Yatırım Menkul Değerler A.Ş. is selected as the mandated brokerage house to perform the mentioned transaction. In accordance with "Borsa İstanbul Application Procedures for Wholesale Activities" Article 7.1, transaction price per share is set as follows:  rounding of average of last 10 working days' (starting from the previous working day of Borsa İstanbul application date) Turcas Petrol A.Ş. weighted average share prices. As a result of this transaction, buy back shares of Turcas Petrol A.Ş. will be kept under our 99.99% direct subsidiary Turcas Enerji Holding A.Ş. Currently, there is no plan to sell buy back shares of Turcas Petrol A.Ş. to any non-group company by Turcas Enerji Holding A.Ş.

2) With an aim to improve effective management of subsidiaries, it has been resolved to take over our Company's 99.99% subsidiary (via 33.32% direct shares and 66.67% indirect shares) Turcas Elektrik Toptan Satış A.Ş. ("TETSAŞ")'s  2.867.240 shares (corresponding to 66.68% shares of TETSAŞ) owned by Turcas Enerji Holding A.Ş. ( 66.67% direct shareholder of TETSAŞ) and real persons (each share having 1 TL nominal value) for a consideration of 1,633,556.74 TL (equity value), subject to the approval of regulatory bodies. As a result of this transaction, Turcas Petrol A Ş. will become the only direct shareholder of TETSAŞ with 100% stake.

3) Also, with an aim to improve effective management of subsidiaries, it has been resolved to take over Turcas Enerji Holding A.Ş.'s (98.67% direct shareholder of Turcas Elektrik Üretim A.Ş. ("TEÜAŞ") and Turcas Petrol A.Ş.'s 99.99% subsidiary) 195.359.031 shares and real persons' 988 shares in TEÜAŞ (each share having 1 TL nominal value), subject to the approval of regulatory bodies and pre-approval of TEÜAŞ's financing corporations. It has been also resolved to mandate an independent valuation company regarding this transaction. TEÜAŞ holds 30% stake in RWE & Turcas Güney Elektrik Üretim A.Ş., owner of Denizli Combined Cycle Gas Power Plant with an installed capacity of 775 MW. As a result of the mentioned transaction, Turcas Petrol A Ş. is planned to become the only direct shareholder of TEÜAŞ with 100% stake.

Following finalization of the above mentioned transactions, our subsidiaries in fuel distribution & lubricants, non-renewable power generation and power trading sectors (Shell & Turcas Petrol A.Ş., Anadolu Tasfiyehanesi A.Ş.; Turcas Elektrik Üretim A.Ş. and Turcas Elektrik Toptan Satış A.Ş., respectively) will be maintained directly under Turcas Petrol A.Ş. Meanwhile, renewable energy  investments will be maintained under our wholly-owned subsidiary, Turcas Enerji Holding A.Ş. These renewable energy investments are i)  Turcas Kuyucak Jeotermal Elektrik Üretim A.Ş., which undertakes the geothermal power plant investment that is under construction in Aydın, Kuyucak with an expected installed capacity of 18 MW and ii) Turcas Yenilenebilir Enerji Üretim A.Ş., focused on developing geothermal, wind and solar power plant projects.

Further developments regarding these transactions will be shared with the public.

Kind regards,