Financial statements prepared by Turkish Petroleum Refineries Corporation management in compliance with the TAS/TFRS standards for the accounting period 01.01.2023 and 31.12.2023 and audited by PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. are examined and approved by our Board of Directors to be presented to General Assembly.

As a result of the examination of financial tables and records kept as per Turkish Petroleum Refineries Corporation's VUK principles;

According to TAS/TFRS, net profit of the Company is TRY 53,577,336,000 and accordance with Tax Procedure law, current year profit is TRY 56,028,515,230.26

a) The 5 % portion of legal reserves which has to be allocated according to Turkish Commercial Code Article 519, will not be allocated for 2023 since legal reserves amount as of 31.12.2023 according to Tax Procedure Law reached 20% of the capital.

Net profit according to the financial statements prepared in compliance with TAS/TFRS in the amount of TL 53,577,336,000 increases to TL 55,011,512,000 of first assessment base for dividend when donations which calculated according to the purchasing power on December 31,2023 of TL 1,434,176,000 are added.

b) In accordance with Capital Market Board Regulations, 18th Article of Company's Articles of Association and Dividend Distribution Policy of our Company which was approved by shareholders in the General Assembly meeting dated 31 March 2014, by taking into consideration Company's long term strategies, investment and financing policies, profitability, cash position, and taking into consideration of funding costs that continue to remain high and ongoing uncertainties both in global and local markets, the following profit distribution is proposed as;

TL 20,000,000,000 to be distributed as first dividend to shareholders.

TL 1,990,366,022.01 to be put aside as general legal reserve,

c) The dividend amount of TL 20,000,000,000 to be fully paid in cash,

d) If the above-mentioned dividend distribution proposal is approved by the General Assembly, the total dividend of 20,000,000,000 TL will be distributed and the general legal reserve fund of 1,990,366,022.01 TL will be covered from the current year's earnings in the records prepared in accordance with both TFRS and VUK;

e) After distribution of dividend, 31,586,969,977.99 TL in the financial statements prepared in accordance with TAS/TFRS records should be transferred to previous years' profits and according to VUK records the remaining amount would be left in the sub-breakdown of the Prior Year Profits/Loss account formed as a result of inflation correction of the balance sheet dated 31.12.2023 in accordance with VUK records;

f) On this basis, a cash dividend of gross=net TL10.3799282 is to be paid for one nominal stock worth TL 1.00 at a rate of 1,037.99 % to our legally obligated corporate taxpayer shareholders and limited corporate taxpayer shareholders earning dividends through a Turkey-based business or permanent representation office. Other shareholders are going to be paid a gross rate of 1,037.99282 %, a cash dividend of gross TL 10.3799282, and net rate of 934.19353 % a cash dividend of net TL 9.3419353 for one nominal stock worth TL1.00

g) To set the dividend distribution date as April 3th, 2024.

To be submitted for the approval of our shareholders at the Ordinary General Assembly Meeting of our company to be held, with the developments in the financial markets and changes in our Company's liquidity position, it has been decided that, should favourable conditions arise in the second half of the year, the possibility of distributing additional dividends with an extraordinary general assembly will be separately assessed.

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

(*) With this calculation of dividend distribution, 54.11% shares are owned by corporate tax payers and are not publicly traded, are not subjet to with holding tax, whilst 0.21% shares of individual shares that are not publicly traded and 45.7% shares that are publicly traded are subject to a 10% with holding tax on the assumption that the beneficial owners are individual taxpayers.