KUZEY BORU A.Ş.

Notice of Dividend Amount • Apr 5, 2024

prot distribution policy

1. Purpose, Scope and Basis

Kuzey Boru A.Ş. (Company) prot distribution policy (Policy) aims to determine the principles and practices regarding how much of the Company's prot will be distributed as dividends, how much will be placed in the Company's reserves and how much will be reinvested. The dividend distribution policy is created taking into consideration the company's nancial situation, growth strategies and shareholder expectations.

prot dıstribution policy

reholders determined in the articles of association; The decision to allocate additional reserve funds and transfer prots to the following year can only be made by the general assembly upon the reasoned proposal of the board of directors. Otherwise, unless the legally required reserves and dividends are set aside for the shareholders determined in the articles of association, no other reserve funds can be set aside and

· If the board of directors proposes to the general assembly not to distribute prots, information about the reasons for this and the way the undistributed prots will be used are included in the agenda item regarding prot distribution, and this issue is presented to the shareholders for their information and approval at the general

· Unless the legally required reserve funds and dividends are allocated for the shareholders determined in the articles of association, it cannot be decided to allocate shares of prot to the members of the board of directors and partnership employees. Unless the cash dividend determined by the general assembly decision is paid to the shareholders, no dividend payment is made to the members of the board of directors

· The rate of annual prot to be distributed in cash or unembodied shares and the amount of annual prot to be distributed calculated based on this rate will be determined by rst calculating the "distributable prot" within the framework of the provisions

· Our company has adopted the cash dividend distribution method as a principle. However, as long as the relevant regulations and nancial possibilities allow, as long as it can be met from the resources available in our legal records, taking into account market expectations, long-term company strategy, investment and nancing policies, protability and cash position, the annual period to be distributed within the framework of the Capital Markets Regulations and with the approval of the general assembly is calculated for the relevant year. A part of the prot may also be distributed to sharehol-

· The company aims to adopt a stable and predictable approach to prot distribution. In this context, it aims to distribute as cash dividends between a minimum of 10% and a maximum of 30% of its calculated annual distributable prot, within the framework of the CMB and TCC provisions. This rate will be determined every year by taking into account many factors such as the company's nancial situation, capital structure,

investment strategies, national and international economic conditions.

of the Capital Markets Legislation and the determined targets.

prots cannot be transferred to the next year.

assembly.

and the Company employees.

ders in the form of free shares.

This policy is based on the Turkish Commercial Code (TTK) no. 6102, the Capital Markets Law (CMB) no. 6362, the Capital Markets Board's (CMB) Dividend Communiqué no. It has been prepared within the framework of the provisions regarding distribution.

2. Authority And Responsibility

The Board of Directors is responsible for establishing, auditing, developing and updating our Company's Prot Distribution Policy when necessary. The policy prepared within the framework of the Capital Markets Legislation, taking into account the sustainability and nancial health of the Company, is submitted to the approval of the general assembly.

3. General Principles Regarding Prot Distribution

· The implementation of this policy and the dividend rate to be distributed in cash, the Company's investment and nancing strategies and needs, changes and developments in the relevant legislation, the Company's medium and long-term strategies, capital and investment requirements, protability, nancial situation, indebtedness and cash situation, national and It will be determined depending on many factors such as global economic conditions. In this regard, the general principles of the prot distribution policy are as follows:

· Dividends will be distributed equally to all existing shares. The distribution will be made on the date and within the legal periods determined by the General Assembly, following the approval of the General Assembly. Dividend distribution can be made all at once or in installments.

· The prot distribution decision made by the general assembly in accordance with the relevant legislation and the company's articles of association cannot be withdrawn.

· In dividend distribution; Cash dividend distribution and bonus share distribution methods can be used.

· Unless legally required reserve funds and dividends are allocated for the sha-

reholders determined in the articles of association; The decision to allocate additional reserve funds and transfer prots to the following year can only be made by the general assembly upon the reasoned proposal of the board of directors. Otherwise, unless the legally required reserves and dividends are set aside for the shareholders determined in the articles of association, no other reserve funds can be set aside and prots cannot be transferred to the next year.

· If the board of directors proposes to the general assembly not to distribute prots, information about the reasons for this and the way the undistributed prots will be used are included in the agenda item regarding prot distribution, and this issue is presented to the shareholders for their information and approval at the general assembly.

· Unless the legally required reserve funds and dividends are allocated for the shareholders determined in the articles of association, it cannot be decided to allocate shares of prot to the members of the board of directors and partnership employees. Unless the cash dividend determined by the general assembly decision is paid to the shareholders, no dividend payment is made to the members of the board of directors and the Company employees.

1. Authority And Responsibility

2. General Principles Regarding

Prot Distribution

distribution policy are as follows:

at once or in installments.

methods can be used.

drawn.

ding distribution.

general assembly.

1. Purpose, Scope and Basis

Kuzey Boru A.Ş. (Company) prot distribution policy (Policy) aims to determine the principles and practices regarding how much of the Company's prot will be distributed as dividends, how much will be placed in the Company's reserves and how much will be reinvested. The dividend distribution policy is created taking into consideration the company's nancial situation, growth strategies and shareholder expectations.

This policy is based on the Turkish Commercial Code (TTK) no. 6102, the Capital Markets Law (CMB) no. 6362, the Capital Markets Board's (CMB) Dividend Communiqué no. It has been prepared within the framework of the provisions regar-

The Board of Directors is responsible for establishing, auditing, developing and updating our Company's Prot Distribution Policy when necessary. The policy prepared within the framework of the Capital Markets Legislation, taking into account the sustainability and nancial health of the Company, is submitted to the approval of the

· The implementation of this policy and the dividend rate to be distributed in cash, the Company's investment and nancing strategies and needs, changes and developments in the relevant legislation, the Company's medium and long-term strategies, capital and investment requirements, protability, nancial situation, indebtedness and cash situation, national and It will be determined depending on many factors such as global economic conditions. In this regard, the general principles of the prot

· Dividends will be distributed equally to all existing shares. The distribution will be made on the date and within the legal periods determined by the General Assembly, following the approval of the General Assembly. Dividend distribution can be made all

· The prot distribution decision made by the general assembly in accordance with the relevant legislation and the company's articles of association cannot be with-

· In dividend distribution; Cash dividend distribution and bonus share distribution

· Unless legally required reserve funds and dividends are allocated for the sha-

· The rate of annual prot to be distributed in cash or unembodied shares and the amount of annual prot to be distributed calculated based on this rate will be determined by rst calculating the "distributable prot" within the framework of the provisions of the Capital Markets Legislation and the determined targets.

· Our company has adopted the cash dividend distribution method as a principle. However, as long as the relevant regulations and nancial possibilities allow, as long as it can be met from the resources available in our legal records, taking into account market expectations, long-term company strategy, investment and nancing policies, protability and cash position, the annual period to be distributed within the framework of the Capital Markets Regulations and with the approval of the general assembly is calculated for the relevant year. A part of the prot may also be distributed to shareholders in the form of free shares.

· The company aims to adopt a stable and predictable approach to prot distribution. In this context, it aims to distribute as cash dividends between a minimum of 10% and a maximum of 30% of its calculated annual distributable prot, within the framework of the CMB and TCC provisions. This rate will be determined every year by taking into account many factors such as the company's nancial situation, capital structure, investment strategies, national and international economic conditions.

· In line with these conditions, the rate range and method of distributable prot may be increased or decreased every year with the proposal of the board of directors and the approval of the general assembly, or it may be decided not to distribute any prot within the framework of the principles contained in this policy.

· According to the relevant legislative provisions and the company's articles of association, the Company may distribute advance dividends in accordance with the Turkish Commercial Code and Capital Markets legislation.

· The proposal of the board of directors regarding prot distribution or the decision of the board of directors regarding the distribution of advance dividends is announced to the public within the scope of relevant regulations, together with its form and content

4. Enforcement

This policy has been accepted by the decision of the Board of Directors and is submitted to the opinion and approval of the shareholders at the General Assembly meeting. Any changes to be made here will enter into force and be announced using the same procedure.

· In line with these conditions, the rate range and method of distributable prot may be increased or decreased every year with the proposal of the board of directors and the approval of the general assembly, or it may be decided not to distribute any prot

· According to the relevant legislative provisions and the company's articles of association, the Company may distribute advance dividends in accordance with the

· The proposal of the board of directors regarding prot distribution or the decision of the board of directors regarding the distribution of advance dividends is announced to the public within the scope of relevant regulations, together with its form and content

This policy has been accepted by the decision of the Board of Directors and is submitted to the opinion and approval of the shareholders at the General Assembly meeting. Any changes to be made here will enter into force and be announced using

04

within the framework of the principles contained in this policy.

Turkish Commercial Code and Capital Markets legislation.

the same procedure.

1. Enforcement