TÜPRAŞ-TÜRKİYE PETROL RAFİNERİLERİ A.Ş.

Notice of Dividend Amount • Feb 21, 2019

Summary Info	Board of Directors' resolution for profit distribution
Update Notification Flag	No
Correction Notification Flag	No
Postponed Notification Flag	No

Board Decision Date	21.02.2019
Type of Cash Dividend Payment	Payment In Advance
Currency Unit	TRY
Type of Stock Dividend Payment	Will Not Be Paid

Amount and Rate of Cash Dividend Payment

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 (%)	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 (%)
A Grubu, TUPRS, TRATUPRS91E8	Payment In Advance	15,15	1.515	12,8775	1.287,75
C Grubu, İşlem Görmüyor, TRETPRS00011	Payment In Advance	15,15	1.515	12,8775	1.287,75

Cash Dividend Payment Dates

Payment	Proposed Ex-Dividend Date	Final Ex-Dividend Date	Payment Date	Record Date
Payment In Advance	28.03.2019		01.04.2019	29.03.2019

Amount and Rate of Cash Dividend Stock Dividend Payment

Share Group Info	Amount of Stock Dividend (TL)	Rate of Stock Dividend (%)
A Grubu, TUPRS, TRATUPRS91E8	0	0
C Grubu, İşlem Görmüyor, TRETPRS00011	0	0

Additional Explanations

Financial statements prepared by Turkish Petroleum Refineries Corporation management in compliance with the TAS/TFRS standards for the accounting period 01.01.2018 and 31.12.2018 and audited by PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. are examined and approved by our Board of Directors in the meeting held on 13.02.2019 to be presented to General Assembly.

As a result of the examination of financial tables and records kept as per Turkish Petroleum Refineries Corporation's VUK principles; realizing a net profit of 3,712,789,000.00 TL for the company according to the financial statements prepared in compliance with TAS/TFRS and a net profit of 3,700,951,260.62 TL for the accounting year according to the VUK records;

a) Pursuant to Article 519 of the Turkish Commercial Code, 5% Legal Reserve that needs to be set aside is not reserved since as of December 31 st 2018, capital reserve already exceeds 20% of company's equity. Net profit according to the financial statements prepared in compliance with TAS/TFRS in the amount of 3,712,789,000.00 TL increases to 3,752,851,607.81 TL of first assessment base for dividend when donations of 40,062,607.81 TL are added.

According to the statutory records, it was realized that 3,700,951,260.62 TL of net distributable profit exists.

b) In accordance with Capital Market Board Regulations, Company's Articles of Association and Dividend Distribution policy of our company, as per enclosed dividend distribution table, the following profit distribution is proposed as;

3,363,416,736.94 TL to be distributed as first dividend to shareholders

430,434,143.06 TL dividends to shareholders from distributable other reserves

378,132,992.00 - TL to be put aside as general legal reserve,

c) The dividend amount of TL 3,793,850,880.00 to be fully paid in cash,

d) If the above mentioned dividend distribution proposal is approved by the General Assembly, on the basis of statutory accounts, the total dividend amount of TL 3,793,850,880.00 will be distributed, of which 3,363,416,736.94 TL is from earnings of the period and the remaining 430,434,143.06 TL is from distributable other reserves. Secondary legal reserves with a value of 378,132,992.00 TL is also to be paid, of which 335,089,577.69 TL will be funded from earnings of the period and remaining 43,043,414.31 TL will be funded from distributable other reserves.

e) On this basis, a cash dividend of gross=net 15.15 TL is to be paid for one nominal stock worth 1.00 TL at a rate of 1,515.00% to our legally obligated corporate taxpayer shareholders and limited corporate taxpayer shareholders earning dividends through a Turkey-based business or permanent representation office. Other shareholders are going to be paid a gross rate of 1,515.00%, a cash dividend of gross 15.15 TL, and net rate of 1,287.75%, a cash dividend of net TL 12.8775 for one nominal stock worth 1.00 TL

f) The dividend distribution will be on March 28, 2019.

The dividend distribution proposal will be submitted to General Assembly that will be held on March 20, 2019.

Supplementary Documents

Appendix: 1	Kar_Dağıtım_Tablosu_2018.pdf
Appendix: 2	Dividend_Distribution_2018.pdf

DIVIDEND DISTRIBUTION TABLE

TÜPRAŞ-TÜRKİYE PETROL RAFİNERİLERİ A.Ş. 01.01.2018/31.12.2018 Period Dividend Payment Table (TL)

1.Paid-In / Issued Capital	250.419.200
2. Total Legal Reserves (According to Legal Records)	597.085.809,18
Information on privileges in dividend distribution, if any, in the Articles of Association:	-

*	Based on CMB Regulations	Based on Legal Records
3. Current Period Profit	3.675.724.000	3.908.386.463,04
4. Taxes Payable (-)	-37.065.000	207.435.202,42
5. Net Current Period Profit	3.712.789.000	3.700.951.260,62
6. Losses in Previous Years (-)	0	0
7. Primary Legal Reserve (-)	0	0
8. NET DISTRIBUTABLE CURRENT PERIOD PROFIT	3.712.789.000	3.700.951.260,62
Dividend Advance Distributed (-)	0	0
Dividend Advance Less Net Distributable Current Period Profit	0	0
9. Donations Made during the Year ( + )	40.062.607,81	0
10. Donation-Added Net Distributable Current Period Profit on which First Dividend Is Calculated	3.752.851.607,81	0
11. First Dividend to Shareholders	0	0
* Cash	3.363.416.736,94	12.520.960
* Stock	0	0
12. Dividend Distributed to Owners of Privileged Shares	0	0
13. Other Dividend Distributed	0	0
* To the Employees	0	0
* To the Members of the Board of Directors,	0	0
* To None Shareholders	0	0
14. Dividend to Owners of Redeemed Shares	0	0
15. Second Dividend to Shareholders	0	3.350.895.776,94
16. Secondary Legal Reserves	335.089.577,69	335.089.577,69
17. Statutory Reserves	0	0
18. Special Reserves	0	0
19. EXTRAORDINARY RESERVES	14.282.685,37	2.444.945,99
20. Other Distributable Resources	430.434.143,06	430.434.143,06

Dividend 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 (%)
A Grubu	3.515.002.840,69		94,67	12,8775	1.287,75
C Grubu	0,15		0	12,8775	1.287,75
TOTAL	3.515.002.840,84		94,67

Dividend Payment Table Explanation

(*) According to the calculation of net dividend distribution, the 51% of shares owned by corporate tax payers and not publicly traded are not subject to withholding tax, whilst the 49% of shares that are publicly traded are subject to a 15% withholding tax on the assumption that the beneficial owners are individual taxpayers.