KARSAN OTOMOTİV SANAYİİ VE TİCARET A.Ş.

Capital/Financing Update • Jan 18, 2024

Summary Info	Board of Directors' Decision on Sukuk Issuance
Update Notification Flag	No
Correction Notification Flag	No
Postponed Notification Flag	No
Related Companies	DGRVK

Authorized Member Decision Date	18.01.2024
Issue Limit	700.000.000
Currency Unit	TRY
Issue Limit Security Type	Lease Certificates
Sale Type	Private Placement-Sale To Qualified Investor
Domestic / Oversea	Domestic

Additional Explanations

At the Board of Directors Meeting of Karsan Otomotiv Sanayi ve Ticaret A.Ş unanimously resolved that; In accordance with the Communiqué of Lease Certificates (Serial. III-61.1) of the Capital Markets Board (the "Communiqué") published in the Official Gazette dated 7 June 2013 and numbered 28670, to approve issuance of sukuk by Değer Varlık Kiralama Anonim Şirketi with a nominal value up to TL 700,000,000.00 (Seven Hundred Million Turkish Liras) (including this amount), denominated in Turkish Liras, in various maturities and series, based on the management agreement, which is the type envisaged within the framework of Articles 4 and 6 of the Communiqué, with our Company as the source institution and/or fund user, to approve issuance of sukuk by selling them to private and/or qualified investors in domestic markets, and it has been decided to apply to the Board (Capital Markets Board) and other relevant authorities and to obtain the necessary permissions. Yours faithfully, 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.