TURCAS PETROL A.Ş.

M&A Activity • Aug 2, 2019

Summary Info	About Capital Markets Board Approval regarding TETSAŞ-TP Merger
Update Notification Flag	Yes
Correction Notification Flag	No
Postponed Notification Flag	No

Board Decision Date	11.06.2019
Merger Model	Merger Through Acquisition
Date Of Financial Statements Base To Merger	31.12.2018
Currency Unit	TRY

Acquired Company	Trading On The Stock Exchange/Not Trading On The Stock Exchange	Share Exchange Rate	Group of Share To Be Distributed To Acquired Company Shareholders	Form of Share To Be Distributed To Acquired Company Shareholders
Turcas Elektrik Toptan Satış A.Ş.	Not Trading On The Stock Exchange

Share Group Info	Paid In Capital	Amount Of Capital To Be Increased Due To The Acquisition (TL)	Capital To Be Decreased (TL)	Target Capital	New Shares To Be Given Due To Merger
A Grubu, TRCAS, TRATRCAS92E6	255.599.850	0	0	255.599.850
B Grubu, İşlem Görmüyor, TRETRCS00019	112,5	0	0	112,5
C Grubu, İşlem Görmüyor, TRETRCS00027	37,5	0	0	37,5

	Paid In Capital	Amount Of Capital To Be Increased Due To The Acquisition (TL)	Capital To Be Decreased (TL)	Target Capital
TOTAL	255.600.000 TL	0 TL	0 TL	255.600.000 TL

Capital Market Board Application Date Regarding Merger	20.06.2019
Capital Market Board Application Result Regarding Merger	APPROVAL
Capital Market Board Approval Date Regarding Merger	01.08.2019

Additional Explanations

As previously announced in our Company's Public Disclosure dated 20.06.2019, Turcas Petrol A.Ş. has applied to Capital Markets Board for the approval of "Text of Announcement" regarding the merger with Turcas Elektrik Toptan Satış A.Ş. (our 100% subsidiary and registered to Istanbul Trade Registry Directorate numbered 447200) via takeover method whereby all assets and liabilities of Turcas Elektrik Toptan Satış A.Ş. shall be transferred to Turcas Petrol A.Ş. as a whole.

Accordingly, "Text of Announcement" has been approved by the meeting of Capital Markets Board dated 01.08.2019 and numbered 43/985. Text of Announcement can be found in the attached file.

Further developments related to registration of the merger transaction at İstanbul Trade Registration Office will be shared with the public timely.

Kind regards,

Documents Regarding Merger

Appendix: 1	TETSAŞ Birleşme Sözleşmesi260719.pdf - Merger Contract
Appendix: 2	Onaylı Duyuru Metni.pdf - Announcement Text
Appendix: 3	TETSAŞ 31.12.2018.pdf - Other
Appendix: 4	TP311218.pdf - Other
Appendix: 5	Tahmini Açılış Bilançosu.pdf - Estimated Opening Balance Sheet