It has been learned that our shareholder Jilber Topuz filed a lawsuit at the Istanbul Commercial Court of First Instance to determine that the decisions taken by our Bank at the ordinary general assembly meeting held on 13 March 2020 had no judgement.

In the relevant lawsuit petition, it is claimed that the shares of our Bank in the portfolio of investment funds, which our bank subsidiary Yapı Kredi Portföy Yönetimi A.Ş. is the founder, cannot be taken into account in the calculation of the General Assembly quorum within the framework of Article 389 of the TCC, and if these shares are deducted from the quorum of the general assembly, as of the date of the purchase of YKB shares from UniCredit, Koç Holding A.Ş. and its subsidiary Koç Finansal Hizmetler A.Ş., there is an obligation to buy shares due to the direct and indirect voting rights above 50% limit and that despite this obligation, no share purchase offer has been made. For this reason, it is claimed that the decisions taken at the General Assembly of our Bank held on March 13, 2020 have no judgment (null) with the view that voting rights will have to freeze automatically.

As per capital market regulations; considering that the mutual fund assets are managed separately from the assets of the portfolio management company according to the fund interests, the restriction in article 389 of the TCC, which is meaningful for Yapı Kredi Portföy Yönetimi A.Ş's legal personality, will not find application area for funds established or managed by Yapı Kredi Portföy Yönetimi A.Ş, considering that Yapı Kredi Portföy Yönetimi A.Ş's legal entity does not have a share in our Bank's capital, the investor claim is seen as unfounded, and all of our legal rights will be used to protect the rights of our Bank and our investors.

Important developments regarding the lawsuit will be announced to our investors separately.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.