AKFEN HOLDNG A.. HALKA ARZ HUKUKÇU RAPORU

AKFEN HOLDNG A.. HALKA ARZ HUKUKÇU RAPORU!"#$$$%&"%%$'()'!"#$$$%&"%%* +, -.///-- 1

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

3AJI02 R R IFJFJFI03F2 0GA3AH00S 0F-G- -&% E#(## 3AJI02 NA2 0H00)FF0:AAJ0OA0H-F-G- #(##$ IFF)A2 03F2 0GA3AH00S 0OA:P 2 A03 $&-""1 &"(""&# FA2NF2 AJT0U G3F2 JA030IF2-0H-F-G- S F-G- $-"# (## 5A:@5FIA2 AJT0U JA030F-G- *1-**" #($E AA2 A2 AJT0U JA030IF2-0H-F-G- 1 (##E* 0NAFA2 AJT0U JA030IF2-OA0H-F-G- E-%% (#### F)A2 A2 AJT0:FJ3FJ@N02 F-G- "% &"(E### F)A2 A2 AJT0:A2 0A2 A500JA2 AJT0:FJ3FJ #($E## F)A2 A2 AJT0AJ30IF2 OA0HFJAF-G- JF:FJ3FJOA #($E## F)A2 A2 AJT0 FIF2 0HFJAF-G- JF0:FJ3FJOA #($E## FIFJ50@ FN0@OFIFIR 0HFJAF-G- FJ3FAI0I0 $ #(#### F)A2 F:J03A2 :F3OA0GA03F-G- R A0G0J3AOA0HFJAF-G- &* $(# I03LAJA2 AJT0U JA03IF2 F:0OA0HFJAN-G0- "1 "%(E# J0A0A:@R A2 AJT0U JA03OANFS 3F-G- #(#$% F)A2 R R IFJFJFIA2 AJT0)FF0:AAJ0OA #($E## F)A2 A2 AJT0U 0HFJAF-G- JA03OA0HFJAF-G- #($E## F)A2 A2 AJT0NA@F3FOA@F2 IFGF-G- #($E## F)A2 A2 AJT0NFS 3OA0HFJAF-G- #($E## FIM@JR IR F2 F0FI:@2 :F-:F-OA0G-F-G- "" #(##* F)A2 JU FJA2 AJT0I0OA0H-F-G- ##65 9 #($E## F)A2 0NJ@AAJ0IF2 JF:FJ3FJF-G- *-%%-%$ V""(&""% FP JA2 5A00NJ@AAJ0IF2 JF:FJ3FJ # V(#### F)A2 A2 AJT0F:2 :F3OA0GA03F-G- FFJU JA03OA0H-F-G $-&""-1## ""(E## 5FFJFNA2 0AAJ0NFS 3OAI0IA3AJ0 1-E##-### $-E# F-G- @ )'(<1-)444<12$= 64)4 4 )6 ')'(() -(6+$4 4=') )'( ')6+$! #')7 4 ))6 '( ', = )'( 0 8'( 6 3R 0( HNN< B => <4* 4 C B 4 = B P B 0=<?4B => = C + F+ IF@ B ( F+ =D(F+0BF-G-(F+F4:444 =DF-G-(IFA -=-IF-=- 4>4=(#"-#E-$##1%#&44I <= (44+?CCC??=DCC 4 ( <4 44 4B4?= B( <= B?B=( <= B 4( D 444 ( D? D +=? = >= <= D 4( ; ;CC 4 B- 5 =( 3R 0 HNN 4= -#E-$##1 HNN 3 4<40B44N0B0I;B>A (8& ' 'B04B4-3R 0( + D?> <4 44?= B( <= B?B=( <= B 4( D 444 ( <= D? D += D 44 +( CCC 4 CC D;=- 3R 0( 0 6

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

C50 3R 0 +4= -H- 3 O>( 0 M @ 3C=CC>C< D;= $1-#1-$##" 3-##*5%E* 44 M N J < 4 =>4. C50 3R 0+4= -H-3 O> 0 M @ 3C=CC>C< D;= 44 C=?4B44 CCC 4 JI3 3C= N4B4 A>:44 I- =- B B 4=4>44 = E-#-$##% 44 G< 44 = =>? C== >4 =*-#1-$##" C JI3 3C= N4B4)4+4=B#&-#%-$##"C. C50 -H-5B4M@54>4M:; 3C=CC>C+4= ($-#-$##"BD4?**LFL##144EF4 5D. C50 -H- 5B4 N 3CB4>4 +4= &-#-$##1 E%L 4 4 C 44? 0B 0 5D 6:4 = 3R 0 +4= -H- 5B4 N 3CB4>4< D;= "-#-$##%3-#&- 3:-"11444=;-H-5B4N 3CB4>4 +4= 3R 0< &-#-$##%< = D? 44 D? B ; = B 4 4 C 44 = B- F( 3R 0< +44 =B => C D = B -H 5B4 N 3CB4>4 +4= D D = 3R 0< 4 ;C = 4 = 44B4-5 ( 3 5B4>4 +4= D;=#*-$-$##" 5-#$--N2 3-#&L#$EL#E$#%444440B0 O0BR A4=:;>?$<==4 BD?C=#-#-$##=B4 #-#1-$## = B D? B 44 D> =B- I; 4 = D :;> D 3R0 #"-$-$##" = -H- 5B4 N 3CB4>4< BB- 0B J -H- 5B4 N 3CB4>4<= 3R 0< > =B =>+44=BD4=49. C50 -H- 3 O> +4= #$-#-$###1 $##1"" 4 3R 0 N I4<P C05D. CC0 3R 0<-H-3O>+4=%-#1-$###1$##114 3R 0<BP C05D. CC0 -H-3 O> +4= %-#1-$###1 $##111 4 3R 0 3C=CC@+<BP C05D( CC0 -H-5B4 3CB4>4 :4 I 3C=CC>C +4= &-#-$##" E$% 44( 3R 0 HNN 4= -#E-$##1 = ==B7HNN34<40B44N0B0I;B8 44 K?=C:44B5D- *0 784 6 ) 3R 0< + => = B 3R 0 +4= +44 B = =(0<== (3R 0<E##(###FN 4 9

B = B44>44 B + ;= =4 B>4=B. 0 3R +4=3 CC0=<B43-OD3$##%*E#A- 44= 4=(?4 B1E-"#(E CCOD(-##-E(&& P C OD *#-"$(E" N> OD C -*1"-*%"(% D = 0= +4= 4? =?44B4-N==?B.3=- 0 3R +4=3 CC0=<B43-OD3$##%1$EA- 44= 4=(?4 B1E-"#(E CCOD(-##-E(&& P C OD *#-"$(E" N> OD C -*1"-*%"(% D = CC 0= +4= D;=;=? =?44B4- N= =? B. 3 =- 0 3R +4=3 CC0=<B43-0=3$##%&%"A- 44 = 4=(?4 B**-*&(#& CC + B 0= +4= 4? =?44B4- N= =? B. =- 50 3R +4=3 CC0=<B43-0=3$##%#&& A-44= 4=(?4 B**-*&(#&CC+ B0= +4= D;= ;=? =?44B4- N= =? B.3=- 50 +44 = =( 0B I=4 +4= F $- 0= 3< $##E"#" A- 44 = 4= <4;B = P B 0=< 44 B CC ==4 P B 0=< B4 =?44B4- N( 69 F< 444 =( B;=(69CCD>= =>= 4;B>( 69&#& 44 == D>(;B C=( 4 +4? D; D;=>( 69;B=HNN<=&#&44<44 => 69 <4 ;B? 4 CC P B 0= 4= &#& 44 = ;D;CB => D??44B4-3 =4 = ==B = 4 <4 => D;=B- 50 3 0= 3 $##E#E A- 44 = 4= 69 J 4 >344CC +=B469+= ; ;B CC B 4 =( 0B I=4+4=P B0=<B4=?44B4-3(CC ==4 B- :CC ==4 4 = C( = F= 5;D 0= 3 +4= B CC ==444=444B- 50 3R 0+4=3-OD3<$##"11&A-$##"1""A-(3 $-OD3<$##"1$A-$##"1*EA-44= 4=&==?44B=4-I; =4 4E-"E*-1&($&<=-N( 3 R OD N= = = NO 44 = =C?44B4-10

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

H I / // / /; FI F D 5 + = 4 54 F-G- 4= *-#1-$##1 = 4B #-### A 4 = I;B. FI F D 5 + = 4 54 4= 4B =I;BA. N 4 @D I 5;D F4 I R D K + 3 : AK 0 K< B FI F DP A-I-O-=-G-4=AC$##" = 4B *##-### 6NO?9 D;CC =B I;B. N 4 @D I 5;D F4 ; + 3 0B4 0B< B FI F D ); 0B C - I- - =- G- 4= 4B&-E1E-1# A 6NO?9 = ;B. N 4@DI5;DAA=CF4F4 F ; 4:44 0B K D @I5 5;D 3C=CC>C FI F D 4= 4B( D? FF N C4B44I;B. N 4 A=C 5;D F4 I F4 ;:44 0B4 0B D FYF@ ID F-G- 5I ID 5 F-G- FI F D 4= 4B E%-###(## A =0B3 KCJ0B33ID?. N 4@I5F4F4F ;4:40B D 5 + = 4 54<= *-#1-$##1 = 44B =4 FI F D 4 N 4 @I5 3C=CC>C #-###A 4C- 1- - 0 8'( 6 FI CCF> $##<=+D?B-G=B*E4C 3> CC 5= 4B => ;B 4( + C=C=- FI CC<C +( 4 CC 4=? ( =>444 D CC C K 4( B ( =( 4 =4 B( 4 444 ( 44B > 44 4( =C 4(?; 4( =B444(4444?DCCC K44( KD;B( =( 4=4B(4 4444-19

0 ') 8'5'#'5,4(8: ') FI CC( $&-#%-$## = = B B ;B $"-#%-$##*44I <==B-FI CC<C E-*##-###-L<=- FI CC<C (##-L 4= E-*##-### = 44 ;CCBC- 5 ( -## = 6F9 E-$"%-"## = 659 44B4- FI CC(FIF D<=V#-#### 4==4- FI CC<C =4( 4 4 B>4= = =4. '#()6 >1 0 ' )424 )6 FII :44:40BF-G- E-$"%-"## 5 V""("1 X 5-O- EE# F V#(# F+:444AKU F-G- $ F V#-####* F+ =DF-G- E& F V#-# 32 0BF-G- $ F V#-####* 19 # E;?/ 0 %&'( 4)4 4)) )6 4 0 N;C <= ; 4 B? +44 ; 44 FI CC<C >B;B =>=B- 50 '' 4)4 0 N <= 444 B= I 4$##"44@> 4B (4 = D 44 FI CC<C > B ;B =>=B- 50 ') FI CC CC5=4=4B 0I;B4( = 44 D CC ( + B 4B B CC 5= +4= 44- FI CC<C +B B>4=4DB / A2 5 KF4IF4?$&-#"-$##"=4 E4CNBK05D- &%&156E<9 -B H-NI0 3C=CC>C$-5;D 3C=CC>C +4= =CB $-#-$## $*-#1LE*E - $#E44=D?:F4I5D- 20

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

C 0 C0B54F-G-(CI4454F-G-(F+ =DF-G-4= 4B ##-###-### F 4 1-#1-$##% = ;B #-#%-$##". C 50 F+ :@ C 0B 54 F-G- G 4= 4B #-#*-$##%ID F4I;B. C 50 F+ :@ C 0B 54 F-G- G 4= 4B #-#%-$##%ID F4I;B. C 50 C 0B 54 5 G C I4 4 54 F-G-6= O9(F+ =DF-G-F+ 0BF-G-6 ;9 F+ :@ 6= F9 4= 4B #%-#%-$##% P F44I;B. C 50 F+ :@( F+ 0B( F+ =D F-G-( = F4 C 54 F-G- 4= G 4= 4B &-#-$##" = I;B. C 50 F+ :@( C 0B 54 F-G- C I4 4 54 F-G- 4= 1-#1-$##% = 4B = ;B< ( F+ =D F-G- @5O+4=$%-#%-$##"A P =C. C C0 I5 N>F-G-F+ :@4=4B $"-#-$##" D=>;B. 0 I5F+ :@4=4B (3 <4B4?CI4 4 54 F-G-< =4B4 => $E-#-$## =4B4 ;B. 0 F+ :@ C 0B 54 F-G-( C I4 4 54 F-G- 4= 4B #-#-$##%( %-#"-$##"( $$-#"-$##% 0 > I;B-!0 784 6 ) F+ :@<+ =>=BF+ :@+4=+44B = =(0<== (F+ :@<E##(###FN 4 B = B44>44 B + ;= =4B>4=B. 0 F+ :@ +4=( 5=< 2 0 < B44==4==>B 5=B4 $- 0= 3< $##%1E" A- 44 = 4= =?44B4-3( 5=< 44 D44 = CCC ==4 B- N( 5;D 0= 3< 4 +4=?4 $- 0= 3= D;C $##%1E" A- 44 =BB$##%"#A-44444B4-0 AB( 3 B= 3&&$ F=(*1 = D 678) '4 89BN AB $- F 3< $##%$ A- $##"#- 44 = 4= 3@+ 3C=CC>C +4= AB 5CCB 5= 5B4>4<B4=4?44B4-N4(4= =C <C%#-### = =4 =B- 30

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