According to the financial statements for the accounting period 01.01.2019 - 31.12.2019 prepared by Arçelik A.Ş. Management according to Turkey Financial Reporting Standards (TFRS) and audited by PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş., 924,833,309.85 TRY is the net term profit belonging to the parent company, and 457,588,624.50 TRY is the current year profit according to Tax Procedure Law (TPL) records; therefore, the proposal of the Board of Directors to distribute a total of 500,000,000.00 TL of dividends to be paid to shareholders in cash and to set the dividend payment date as 01.04.2020 was read. Regarding this item, Mr. Kerem Kaşıtoğlu, representative of the Shareholder Koç Holding Emekli ve Yardım Sandığı Vakfı, took the ground and read his proposal about the share distribution. He proposed that under the Coronavirus conditions, which has influenced world, the companies are cautiously following their financing structures and being in a period where they need to have more liquidity; the proposal of the Board of Directors regarding the distribution of profit, which was decided more than a month ago, while the effects of Coronavirus on domestic and global economy was less predictable, is not acceptable under the current conditions therefore dividends must not be distributed, since the amount of 5% of the general legal reserves that should be reserved in accordance with Article 519 of the Turkish Commercial Code has reached the 20% limit of the general legal reserves available in the Tax Procedure Law records as of 31.12.2019, the entire profit of 2019 to be allocated as Extraordinary Reserves. Both proposals were submitted for voting separately. Dividend distribution proposal of the Board of Directors was rejected on the basis of dissenting votes representing 361,057,205.17-TRY against affirmative votes representing 239,182,253.27-TRY. The proposal of not to distribute dividends and to allocate the entire profit as Extraordinary Reserves, made by the representative of the Shareholder Koç Holding Emekli ve Yardım Sandığı Vakfı was accepted by the majority of votes on the basis of affirmative votes representing 455,527,742.17-TRY against dissenting votes representing 144,711,716.27-TRY.