AYGAZ A.Ş.

Share Issue/Capital Change • Apr 29, 2022

Summary Info	CMB application regarding the resolution on transfer of Entek shares to Tüpraş by way of partial demerger through share transfer to shareholders model
Update Notification Flag	Yes
Correction Notification Flag	No
Postponed Notification Flag	No
Related Companies	TUPRS, KCHOL

Board Decision Date	25.04.2022
Demerger Model	Partial demerger by way of share transfer to the shareholders
Company/Companies That Assets be Transferred Due to Demerger	Türkiye Petrol Rafinerileri A.Ş. (Tüpraş)
Scope of Activities of Company/Companies That Assets be Transferred Due to Demerger	Refinery, energy generation
Capital Increase of Company That Assets be Transferred Due to Demerger	12.418.659
Will Be Applied to Stock Exchange For Listing of Company That Assets be Transferred Due to Demerger?	No
Currency Unit	TRY
Date Of Financial Statements Base To Demerger	31.12.2021
Paid-in Capital (TL)	300.000.000
Target Capital (TL)	219.800.767

Share Group Info	Paid-in Capital (TL)	Share Exchange Rate	Capital To Be Decreased Due To Demerger (TL)	Capital To Be Decreased Due To Demerger (%)	Amount Of Bonus Issue From Internal Resources Due to Demerger (TL)	Rate Of Bonus Issue From Internal Resources Due to Demerger(%)	New Shares'' ISIN	Amount of Shares Issued Due To Demerger
AYGAZ, TRAAYGAZ91E0	300.000.000	0,15485	80.199.233	26,73307			TRATUPRS91E8	12.418.659

Capital Market Board Application Date Regarding Demerger	29.04.2022

Additional Explanations

As publicly disclosed on 25.04.2022; within the framework of our Company's strategic plans, with the target to create value by using Aygaz's existing equity and borrowing capacity by focusing especially on international LPG investments and other business areas such as cargo distribution, it has been resolved to transfer Entek Elektrik Üretim A.Ş. ("Entek") shares in our Company's assets which corresponds to 49.62% of the registered Entek capital, to Türkiye Petrol Rafinerileri A.Ş. ("Tüpraş") through a partial demerger transaction through the model of share transfer to Aygaz shareholders. Simultaneously, the Entek shares registered in the assets of our controlling shareholder Koç Holding A.Ş. will be transferred to Tüpraş through a partial demerger transaction through the associates model.

Accordingly, the application has been made to the Capital Markets Board for the approval of the Announcement Text (attached in Turkish) prepared by Aygaz, Koç Holding and Tüpraş.

This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.

Documents Regarding Demerger

Appendix: 1	Duyuru Metni 1.pdf - Announcement Text