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In accordance with our Company's Principles Regarding Related Party Transactions, permanent Related Party Transactions envisaged to be performed in relation to the relevant financial year at the beginning of each financial year, subject to the approval of the Board of Directors, and summary of the content of the said board of directors' decision, which does not have the characteristics of trade secret, should be disclosed to the public. Moreover, in addition to the decision of the board of directors, in case it is estimated that the rate of the amount of common and continuous transactions between the company and its related parties in an accounting period to the cost of sales in purchase transactions according to the recent annual financial statements will reach to %10 or more of the rate of sales transactions to the amount of revenue generated according to the last annual financial statements, a report shall be prepared on the terms of the transactions and their comparison with the market conditions and the conclusion part of such report shall be disclosed to the public. Turkish transfer pricing legislation and OECD Guidelines state that transactions between related parties should comply with the arm's length standard. The Company's intra-group transactions, including transactions exceeding the thresholds specified in the Principles, are tested by the transfer pricing methods determined by the Turkish transfer pricing legislation and detailed information about the transfer pricing methods applied in determining the prices and prices used in these transactions is included in the relevant sections of the report. Accordingly, with the decision of our Board of Directors dated March 28, 2024 and numbered 2024/11, the conclusion part of the report prepared by our Board of Directors is stated below : Pursuant to Article 10 of the Communiqué on Corporate Governance Serial II.17.1 of the Capital Markets Board; The ratio of the amount of our Company's widespread and continuous electricity sales transactions with Gediz EPSAŞ within the accounting period 01.01.2024 - 31.12.2024 to the amount of revenue in the last financial statements is expected to exceed 3% according to the company policy and to exceed 10% according to the relevant article of the Communiqué mentioned above. The ratio of the amount of our Company's widespread and continuous electricity sales transactions with Aydem EPSAŞ in the accounting period 01.01.2024 - 31.12.2024 to the amount of revenue in the last financial statements is expected to exceed 3% according to the company policy and 10% according to the relevant article of the Communiqué mentioned above. The amount of our Company's common and continuous joint management service procurement transactions with Aydem Holding A.Ş. for the accounting period 01.01.2024 - 31.12.2024 is expected to exceed 3% of the revenue amount in the last financial statements according to the company policy. In this report, the conditions of the transactions made with the related parties mentioned above in 2024, the price determination methods and the reasons for the selection of these methods are explained and information is provided on the compliance of the transactions with market conditions. 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. |
We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.