TEKFEN HOLDİNG A.Ş.

Notice of Dividend Amount • Apr 24, 2020

Summary Info	Change of dividend distribution date
Update Notification Flag	No
Correction Notification Flag	Yes
Postponed Notification Flag	No
Reason of Correction	Amendment made pursuant to the provisional article 13 added to the Turkish Commercial Code.

Decision Date	20.02.2020
Date of Related General Assembly	26.03.2020
Was The Issue of Dividend Payment Negotiated?	Discussed
Type of Cash Dividend Payment	3 installment
Currency Unit	TRY
Stock Dividend	Will Not Be Paid
The Reason For Applying A Lower Dividend Withholding Rate Than The Current Rate In Calculating Net Amount	-

Cash Dividend Payment Amount and Rates

Share Group Info	Payment	Cash Dividend To Be Paid For Share With Par Value of 1 TL - Gross (TL)	Cash Dividend To Be Paid For Share With Par Value of 1 TL - Gross (%)	Withholding Rate (%)	Cash Dividend To Be Paid For Share With Par Value of 1 TL - Net (TL)	Cash Dividend To Be Paid For Share With Par Value of 1 TL - Net (%)
TKFEN, TRETKHO00012	1. Installment	0,5763400	57,634	15	0,4898890	48,9889
TKFEN, TRETKHO00012	2. Installment	0,3842266	38,42266	15	0,3265926	32,65926
TKFEN, TRETKHO00012	3. Installment	0,1921133	19,21133	15	0,1632963	16,32963
TKFEN, TRETKHO00012	TOTAL	1,1526799	115,26799	15	0,9797779	97,97779

Dividend Dates

Payment	Proposed Ex-Dividend Date	Final Ex-Dividend Date	Payment Date	Record Date
1. Installment	27.04.2020	27.04.2020	29.04.2020	28.04.2020
2. Installment	24.09.2020	24.09.2020	28.09.2020	25.09.2020
3. Installment	01.10.2020	01.10.2020	05.10.2020	02.10.2020

(1) The date that the dividend will be paid and the share will start trading without dividend right (proposed).

(2) The date that the dividend will be paid and the share will start trading without dividend right (finalized).

(3) Date of entry to the accounts of the shareholders whose shares are traded on the stock exchange.

(4) Date of determination of the right holders of the type of shares traded on the stock exchange.

Amount and Rate of Cash Dividend Stock Dividend Payment

Share Group Info	Amount of Stock Dividend (TL)	Rate of Stock Dividend (%)
TKFEN, TRETKHO00012	0	0

Additional Explanations

At the company's annual general meeting held on 26 March 2020 it was resolved to pay shareholders a 30% dividend out of the company's 2019 profits and to pay this dividend in two equal installments on 27 April 2020 and 24 September 2020. However pursuant to article 12 of Statute 7244 ("Law concerning the reduction of the effects of the novel coronavirus (Covid-19) epidemic on economic and social life and the amendment of some laws"), which went into effect with its publication in issue 31102 of the official gazette on 17 April 2020 as well as to interim article 13 added to the Turkish Commercial Code (Statute 6102), portions of dividends that exceed 25% of 2019 net profit must be paid after 30 September 2020. For this reason, the Board of Directors has decided to reschedule the dividend payment as follows: the first 15% installment will be paid on 27 April 2020, as per the general meeting's resolution; a second 10% installment will be paid on 24 September 2020; the remaining 5% will be paid on 1 October 2020.

Supplementary Documents

Appendix: 1	TKFEN2019Kar_dağıtım_Tablosu.pdf
Appendix: 2	TKFEN2019Dividend_Distribution_Table.pdf

DIVIDEND DISTRIBUTION TABLE

TEKFEN HOLDİNG A.Ş. 01.01.2019/31.12.2019 Period Dividend Payment Table (TL)

1.Paid-In / Issued Capital	370.000.000
2. Total Legal Reserves (According to Legal Records)	74.000.000
Information on privileges in dividend distribution, if any, in the Articles of Association:	None.

*	Based on CMB Regulations	Based on Legal Records
3. Current Period Profit	1.782.320.000	1.131.512.066,99
4. Taxes Payable (-)	-361.570.000	-29.409.318,21
5. Net Current Period Profit	1.420.750.000	1.102.102.748,78
6. Losses in Previous Years (-)	0
7. Primary Legal Reserve (-)	0
8. Net Distributable Current Period Profit	1.420.750.000	1.102.102.748,78
Dividend Advance Distributed (-)	0
Dividend Advance Less Net Distributable Current Period Profit
9. Donations Made During The Year ( + )	887.292
10. Donation-Added Net Distributable Current Period Profit on which First Dividend Is Calculated	1.421.637.292
11. First Dividend to Shareholders
* Cash	426.491.600
* Stock	0
12. Dividend Distributed to Owners of Privileged Shares	0
13. Other Dividend Distributed	0
* To the Employees
* To the Members of the Board of Directors
* To Non-Shareholders
14. Dividend to Owners of Redeemed Shares	29.827.752
15. Second Dividend to Shareholders
16. Secondary Legal Reserves
17. Statutory Reserves
18. Special Reserves
19. Extraordinary Reserves	964.430.648	645.783.396,78
20. Other Distributable Resources

Dividend Payment Rates Table

Share Group	CASH DIVIDEND AMOUNT (TL) - NET	STOCK DIVIDEND AMOUNT (TL)	TOTAL DIVIDEND AMOUNT (TL) / NET DISTRIBUTABLE CURRENT PERIOD PROFIT (%)	DIVIDEND TO BE PAID FOR SHARE WITH PAR VALUE OF 1 TL - NET (TL)	DIVIDEND TO BE PAID FOR SHARE WITH PAR VALUE OF 1 TL - NET (%)
- - -	362.517.860	0	30	0,979778	97,9778
TOTAL	362.517.860	0	30	0,979778	97,9778

Dividend Rate Table Explanations

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