TÜPRAŞ-TÜRKİYE PETROL RAFİNERİLERİ A.Ş.

Notice of Dividend Amount • Feb 21, 2018

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

Board Decision Date	21.02.2018
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	13,603	1.360,3	11,56255	1.156,255
C Grubu, İşlem Görmüyor, TRETPRS00011	Payment In Advance	13,603	1.360,3	11,56255	1.156,255

Cash Dividend Payment Dates

Payment	Proposed Ex-Dividend Date	Final Ex-Dividend Date	Payment Date	Record Date
Payment In Advance	29.03.2018		02.04.2018	30.03.2018

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

According to the enclosed dividend distribution table about the financial statements for the accounting period 01.01.2017 and 31.12.2017, in compliance with the TAS/TFRS and statutory results, prepared by Turkish Petroleum Refineries Corporation, and audited by PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. , our proposal for profit distribution has been explained as follows;

Supplementary Documents

Appendix: 1	Kar_Dağıtım_Tablosu_2017.pdf
Appendix: 2	Dividend_Distribution_2017..pdf

DIVIDEND DISTRIBUTION TABLE

TÜPRAŞ-TÜRKİYE PETROL RAFİNERİLERİ A.Ş. 01.01.2017/31.12.2017 Period Dividend Payment Table (TL)

1.Paid-In / Issued Capital	250.419.200
2. Total Legal Reserves (According to Legal Records)	27.966.816.256
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	4.445.028.000	4.178.243.263,46
4. Taxes Payable (-)	633.482.000	463.198.705,02
5. Net Current Period Profit	3.811.546.000	3.715.044.558,44
6. Losses in Previous Years (-)	0	0
7. Primary Legal Reserve (-)	0	0
8. NET DISTRIBUTABLE CURRENT PERIOD PROFIT	3.811.546.000	3.715.044.558,44
Dividend Advance Distributed (-)	0	0
Dividend Advance Less Net Distributable Current Period Profit	0	0
9. Donations Made during the Year ( + )	27.406.755,38	0
10. Donation-Added Net Distributable Current Period Profit on which First Dividend Is Calculated	3.838.952.755,38	0
11. First Dividend to Shareholders	0	0
* Cash	3.406.452.377,6	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	3.365.930.544,04
16. Secondary Legal Reserves	339.393.141,76	336.593.054,4
17. Statutory Reserves	0	0
18. Special Reserves	0	0
19. EXTRAORDINARY RESERVES	65.700.480,64	0
20. Other Distributable Resources	0	28.000.873,56

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	3.156.078.128,19	0	82,8	11,56255	1.156,255
C Grubu	0,14	0	0	11,56255	1.156,255
TOTAL	3.156.078.128,33	0	82,8	11,56255	1.156,255

Dividend Payment Table Explanation

According to the enclosed dividend distribution table about the financial statements for the accounting period 01.01.2017 and 31.12.2017, in compliance with the TAS/TFRS and statutory results, prepared by Turkish Petroleum Refineries Corporation, and audited by PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. our proposal for profit distribution has been explained as follows;

A) Pursuant to Article 519 of the Turkish Commercial Code, 5% Legal Reserve to be set aside but since as of December 31 st 2017, capital reserves already exceeds 20% of equity, 5% Legal Reserve was not set aside in the current year.

According to the Capital Markets Law and Capital Markets Board Regulations, consolidated net income, attributable to equity holders of the parent company is in the amount of TL 3,811,546,000.00 and when donations of 27,406,755.38 TL to charitable organisations are added, the first assessment base for dividend is 3,838,952,755.38 TL. According to the statutory records, it was realized that TL 3,715,044,558.44 of net distributable profit exists

B) In accordance with the Capital Market Law, 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;

3,406,452,377.60 - TL to be distributed as first dividend to shareholders

339,393,141.76 - TL to be put aside as II. Class Legal Reserve,

C) The total amount of dividend of TL 3,406,452,377.60 will be paid in cash.

D) If the above mentioned dividend distribution proposal is approved by the general assembly, on the basis of statutory accounts, the amount to be distributed is TL 3,406,452,377.60 as cash, of which TL 3,378,451,504.04 is from other earnings of the current period and TL 28,000,873.56 is from distributable other reserves. Secondary legal reserves with a value of 339,393,141.76 of which 336,593,054.40 will be funded from current year earnings and remaining TL 2,800,087.36 will be funded from distributable other reserves.

E) On this basis, a cash dividend of gross=net 13,603 TL is to be paid for one nominal stock worth 1.00 TL at a rate of 1,360.3% 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 1,360.3%, a cash dividend of gross 13.603 TL, and net rate of 1,156.255%, a cash dividend of net TL 11.56255 for one nominal stock worth 1.00 TL

The dividend distribution is set to begin on March 29, 2018.

The dividend distribution proposal will be submitted to General Assembly that will be held in March 21, 2018.