In the Material Event Disclosure Statement made on 04 December 2020, Our Company has declared that investments for the long-term New Generation Commercial Vehicle and Battery Projects at the Kocaeli Factories campus has been approved and the granting of Project Based State Aid for the aforementioned investments has been accepted with the Presidential Decree No. 3273 published in the Official Gazette dated 04.12.2020 and numbered 31324. Within the framework of the aforementioned approval, the investment incentive dated 24 September 2021 and certificate numbered 527894 regarding the expenditure of 20.501.205.701 TL between 1 July 2020 and 01 July 2026 within the scope of the related projects, was issued by the Ministry of Industry and Technology. Incentives provided as follows:

a)  VAT Exemption and Refund

b) Customs Duty Exemption

c) Corporate Tax Reduction (tax deduction rate: 100%, investment contribution rate: 100%, ratio of the investment contribution amount that can be used during the investment period: 100%)

d) Social Security Premium Employer's Share Support (10 years without maximum amount limit)

e) Income Tax Withholding Support (10 years)

f) Qualified Personnel Support (maximum 250,000,000 TL)

g) Energy Support (50% of energy consumption expenditures not exceeding 200,000,000 TL for 10 years from the date of commissioning)

h) Investment Location Allocation (in Kocaeli province)

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.