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Conclusion Section of " Report on Ongoing and Continuous Transactions Between Ziraat GYO and Its Related Parties " which is prepared as per Article 10 of the Capital Markets Board's Communique No. II-17.1 on Corporate Governance is submitted below for our shareholders' information.
"According to Article 10 of the Capital Markets Board's (CMB) Communique on Corporate Governance (II-17.1), the rental income of Ziraat GYO, derived from ongoing and continuous leasing transactions with Ziraat Bankası A.Ş. in 2024, has exceeded 10% of the company's annual revenue disclosed in its 2023 financial statements, as expected. It is also anticipated that this ratio will exceed 10% in the 2025 fiscal period. All real estate leasing transactions involving Ziraat Bankası A.Ş., including existing leasing agreements, are carried out in accordance with the leasing contract terms, prevailing legislations, rental appraisal reports and market conditions. In this context, Appraisal Reports for the assets in the Company's real estate portfolio are prepared and announced to the public. Leasing transactions are carried out within the limits set forth in these reports and in compliance with the provisions of the Communique on Principles Concerning Real Estate Investment Trusts, Series III N 48.1. Furthermore, in the 'Report on Ongoing and Continuous Transactions Between Ziraat GYO and Its Related Parties,' published at the end of 2023 on the Public Disclosure Platform (KAP), it was stated that, in alignment with the company's investment strategies, profitability targets, and similar practices from previous years, certain real estate properties owned by our primary shareholder, Ziraat Bankası, were planned for acquisition in 2024 for the development of new projects. In this context, it was anticipated that the purchase price could exceed 10% of the cost of sales reported in our 2023 year-end financial statements. However, as the acquisition of land from third parties for residential projects in earthquake-affected regions was prioritized, no related-party acquisition transactions exceeding the aforementioned 10% threshold were conducted in 2024."
Respectfully announced to the public.
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