SASA POLYESTER SANAYİ A.Ş.

Share Issue/Capital Change • Mar 28, 2024

SASA POLYESTER SANAYİ A.Ş. AMENDMENT DRAFT ARTICLES OF ASSOCIATION

PREVIOUS VERSION	NEW VERSION
CAPITAL	CAPITAL
Article 8: Article 8: The Company has adopted the Authorised Capital System in accordance with the provisions of the Capital Market Law, and has shifted to this system with the permission of the Capital Markets Board, dated 13 April 1999 with no.35/413.	Article 8: Article 8: The Company has adopted the Authorised Capital System in accordance with the provisions of the Capital Market Law, and has shifted to this system with the permission of the Capital Markets Board, dated 13 April 1999 with no.35/413.
The upper limit of authorised capital of the Company is TRY 15.000.000.000 (fifteen billion Turkish Liras), divided into 1.500.000.000.000 (one trillion five hundred billion) registered shares, with a par value of Kr 1 (one Kuruş) each.	The upper limit of authorised capital of the Company is TRY 60.000.000.000 (sixty billion Turkish Liras), divided into 6.000.000.000.000 (six trillion) registered shares, with a par value of Kr 1 (one Kuruş) each.
The permission given by the Capital Markets Board for authorized capital upper limit is valid for 2023-2027 (5 years). Even if the permitted upper limit of authorised capital cannot be reached at the end of the year 2027, in order to increase the capital with the Board of Directors' resolution after the year 2027, it is compulsory to obtain authorization from the General Assembly for a new period up to five years by obtaining permission from the Capital Markets Board for previously permitted upper limit or for a new upper limit. In case such authorization is not obtained, the Company shall not be allowed to increase its capital, by the Board of Directors' decision.	The permission given by the Capital Markets Board for authorized capital upper limit is valid for 2024-2028 (5 years). Even if the permitted upper limit of authorised capital cannot be reached at the end of the year 2028, in order to increase the capital with the Board of Directors' resolution after the year 2028, it is compulsory to obtain authorization from the General Assembly for a new period up to five years by obtaining permission from the Capital Markets Board for previously permitted upper limit or for a new upper limit. In case such authorization is not obtained, the Company shall not be allowed to increase its capital, by the Board of Directors' decision.
The issued capital of the Company is TRY 5,321,653,794.10 TL (Five billion three hundred twenty-one million six hundred fifty-three thousand seven hundred and ninety-four Turkish Lira ten kurus) and this issued capital has been fully paid, free of collusion.	The issued capital of the Company is TRY 5,321,653,794.10 TL (Five billion three hundred twenty-one million six hundred fifty-three thousand seven hundred and ninety-four Turkish Lira ten kurus) and this issued capital has been fully paid, free of collusion.
The shares representing the capital, shall be monitored in electronic environment within the framework of dematerialization principles.	The shares representing the capital, shall be monitored in electronic environment within the framework of dematerialization principles.
In accordance with the provisions of the Capital Market Law, whenever it deems necessary, the Board of Directors shall be authorized to increase the issued capital by issuing new shares up to the upper limit of authorised capital, and to decide on issuance of share with premium or below their nominal value by restricting the shareholders' pre-emptive rights. The power to restrict the pre-emptive rights of shareholders may not be used in a manner causing inequality between the shareholders.	In accordance with the provisions of the Capital Market Law, whenever it deems necessary, the Board of Directors shall be authorized to increase the issued capital by issuing new shares up to the upper limit of authorised capital, and to decide on issuance of share with premium or below their nominal value by restricting the shareholders' pre-emptive rights. The power to restrict the pre-emptive rights of shareholders may not be used in a manner causing inequality between the shareholders.
The share amounts corresponding to the capital subscribed in cash, shall be paid in advance and in full during the commitment.	The share amounts corresponding to the capital subscribed in cash, shall be paid in advance and in full during the commitment.