INTERNATIONAL CAPITAL IN TURKEY S INDUSTRIAL SECTOR

INTERNATIONAL CAPITAL IN TURKEY S INDUSTRIAL SECTOR July 2009 AN EVALUATION OF THE FOREIGN CAPITAL COMPANIES AMONG 500 LARGEST INDUSTRIAL ENTERPRISES OF TURKEY Published by Istanbul Chamber of Commerce (ISO) since 1968, 500 Largest Industrial Companies represent more than half of the size of Turkey s industrial sector. In 2008 list, there are 148 companies with foreign capital. 18 of these 148 foreign capital companies are among the top 50 and account for 16% of total sales from production of 500 companies. Whereas the share of foreign capital in 107 of these 148 foreign capital companies is equal and above 50%, and the number of 100% foreign capital companies is 44. Share of foreign capital companies in the ISO-500 list with respect to: 1995 2000 2006 2007 2008 (%) (from production in Turkey) 22,2 28,1 32,7 32,9 29,7 24,5 28,5 41,0 40,6 35,7 20,8 26,3 39,5 36,2 34,7 30,8 60,8 37,0 34,8 35,0 Exports 29,1 37,5 45,7 47,4 43,2 Employment 14,6 19,2 28,4 28,9 30,0 In ISO-500 lists of previous years, there were 88 foreign capital companies in 1990, 110 in 1995, 131 in 2000, 140 in 2006 and 143 in 2007. The share of foreign capital companies in cumulative sales has varied between 35% and 41%, and in employment between 28% and 30%, during the last three years. Top 10 Foreign Companies based on (from production in Turkey) (from production in Turkey) (exc. VAT) Exports Employees (Mio. TRL) (Mio. USD) (Number of) Foreign (%) 1 FORD OTOMOTİV 6.006 7.038 617 3.760 9.260 41,04 2 OYAK-RENAULT 4.711 4.965 152 3.269 6.817 51,00 3 TOFAŞ TÜRK 4.184 4.857 44 2.565 8.533 37,86 4 TOYOTA 2.517 2.539-1.786-100,0 5 VESTEL 2.372 2.423-49 1.405 3.905 51,59 6 UNİLEVER 2.092 2.610 324 66 2.024 99,98 7 MERCEDES-BENZ 1.754 3.143 319 1.040 4.570 84,99 8 İPRAGAZ A.Ş. 1.704 1.721 49 2 659 100,0 9 BSH EV ALETLERİ 1.597 2.148 106 594 3.664 97,84 PHILSA PHILIP 10 MORRIS SABANCI 1.438 1.446 729 62 720 75,00 YASED International Investors Association 1

In ISO-500 list, ranking companies according to sales from production, Ford Otomotiv has ranked as the largest foreign capital company and the third largest industrial company of Turkey after Tüpraş and EÜAŞ. Whereas Oyak-Renault ranks as the second largest foreign capital company and fourth in general ranking, Toyota Otomotiv is positioned as the third largest foreign capital company. Five of top 10 foreign capital companies are engaged in the automotive sector. As gross sales are evaluated, whereas Petrol Ofisi ranks as the largest foreign capital company regarding its gross sales, Ford Otomotiv follows suit and Oyak Renault ranks third. After Oyak Renault, we see Tofaş and Mercedes- Benz within the top 5. Top 10 Industrial Foreign Companies with Regard to Cumulative (excl. VAT) Exports Employees (Mio. TRL) (Mio. USD) (Number of) Foreign (%) 1 PETROL OFİSİ 16.620 2.994 97 1.424 1.142 41,58 2 FORD OTOMOTİV 7.038 1.091 617 3.760 9.260 41,04 3 OYAK-RENAULT 4.965 399 152 3.269 6.817 51,00 4 TOFAŞ TÜRK 4.857 961 44 2.565 8.533 37,86 5 MERCEDES-BENZ 3.143 659 319 1.040 4.570 84,99 6 UNİLEVER 2.610 562 324 66 2.024 99,98 7 TOYOTA 2.539 - - 1.786-100,0 8 VESTEL 2.423 150-49 1.405 3.905 51,59 9 BSH EV ALETLERİ 2.148 427 106 594 3.664 97,84 10 İPRAGAZ 1.721 645 49 2 659 100,0 With approximately 9,000 employees, Ford Otomotiv, which ranks first in terms of production from sales, also ranks first in terms of generation of employment among foreign capital companies and comes after 5 state owned enterprises and Arçelik in overall grading. Top 10 Industrial Foreign Companies based on Number of Employees Number of Employees (exc. VAT) Exports (Mio. TRL) (Mio. USD) Foreign (%) 1 FORD OTOMOTİV 9.260 7.038 1.091 617 3.760 41,04 2 TOFAŞ TÜRK. 8.533 4.857 961 44 2.565 37,86 3 OYAK-RENAULT 6.817 4.965 399 152 3.269 51,00 4 DELPHİ AUTOMOTİVE 5.800 660 172 49 371 100,0 5 BOSCH SANAYİ 5.335 1.400 - - 874 100,0 6 MERCEDES-BENZ 4.570 3.143 659 319 1.040 84,99 7 VESTEL ELEKTRONİK 3.905 2.423 150-49 1.405 51,59 8 BSH EV ALETLERİ 3.664 2.148 427 106 594 97,84 9 HUGO BOSS TEKSTİL 3.225 141 105 13 105 100,0 ALLİANCE ONE 10 TÜTÜN 2.622 190 38-42 28 99,35 Among the foreign capital companies with highest employment figures, apart from companies operating in automotive sector, we see Hugo Boss from the textile-clothing and Alliance One from the tobacco sector. YASED International Investors Association 2

Looking at the companies in terms of the gross value added, Philsa Philip Morris Sabancı ranks first among foreign capital companies. Petrol Ofisi and Japon Tobacco International (JTI) come second and third. Top 10 Industrial Foreign Companies based on Generated (exc. VAT) Exports Employees (Mio. TRL) (Mio. USD) (Number of) Foreign (%) PHİLSA PHİLİP 1 MORRİS SABANCI 7.104 1.446 729 62 720 75,00 2 PETROL OFİSİ 2.994 16.620 97 1.424 1.142 41,58 3 JTİ TÜTÜN ÜRÜNLERİ 2.190 522 87 170 447 100,0 4 FORD OTOMOTİV 1.091 7.038 617 3.760 9.260 41,04 5 TOFAŞ 961 4.857 44 2.565 8.533 37,86 6 MERCEDES-BENZ 659 3.143 319 1.040 4.570 84,99 7 İPRAGAZ 645 1.721 49 2 659 100,0 8 UNİLEVER 562 2.610 324 66 2.024 99,98 9 BSH EV ALETLERİ 427 2.148 106 594 3.664 97,84 10 OYAK-RENAULT 399 4.965 152 3.269 6.817 51,00 In 2008, the share of foreign capital companies within total exports of ISO-500 companies has been realized as 43,27%. The top 50 foreign capital companies have also accomplished 28% of the exports made by all of the companies listed in ISO-500. The top 4 foreign capital companies in exports are again from the automotive sector; namely Ford, Oyak-Renault, Tofaş Türk and Toyota in decending order. Top 10 Industrial Foreign Companies based on Exports Exports (exc. VAT) Employees (Mio. USD) (Mio. TRL) (Number of) Foreign (%) 1 FORD OTOMOTİV 3.760 7.038 1.091 617 9.260 41,04 2 OYAK-RENAULT 3.269 4.965 399 152 6.817 51,00 3 TOFAŞ TÜRK 2.565 4.857 961 44 8.533 37,86 4 TOYOTA OTOMOTİV 1.786 2.539 - - - 100,0 5 PETROL OFİSİ 1.424 16.620 2.994 97 1.142 41,58 6 VESTEL 1.405 2.423 150-49 3.905 51,59 7 MERCEDES-BENZ 1.040 3.143 659 319 4.570 84,99 8 İZMİR DEMİR ÇELİK 995 1.389 189 161 812 5,15 9 BOSCH 874 1.400 - - 5.335 100,0 10 DİLER DEMİR ÇELİK 744 1.241 87 89 609 12,00 Looking at the foreign capital companies in ISO 500 list by sectors, automotive is the sector that the foreign investors have the highest share by all indicators. In the automotive sector, foreign capital companies account for 85% of sales from production, 91% of exports, 77% of generated added value and 71% of employment. Other manufacturing industry sectors, in which foreign capital companies hold the highest shares with regard to sales from production are; paper, printing and publishing and metal products, machinery & equipment sectors. Regarding shares in value added, the leading automotive sector is followed by the food-beverages-tobacco and paper, printing and publishing sectors. YASED International Investors Association 3

Besides the automotive sector, foreign capital companies account for a considerable portion of exports in the paper, printing and publishing metal products and machinery & equipment sector as well. Regarding employment, again after automotive sector, in the chemicals, oil products, rubber and plastics sector, foreign capital companies have 42% share and in metal products, machinery & equipment sector have % 38 shares. The share of foreign capital companies in overall manufacturing industry is 29% in sales from production, 34% in value added, 43% in exports and 30% in employment. Share of Foreign Companies by Sectors in 2008 Number of Companies Share of Foreign Companies (%) Sector Foreign (from production) Exports Employment Mining & Quarrying 13 1 4,15 5,48 5,24 1,62 Manufacturing 474 145 29,31 34,28 43,15 30,05 Food, Beverages, Tobacco 92 23 32,58 69,20 30,19 23,24 Clothing, Leather, Shoes 47 3 4,57 8,55 6,44 8,94 Forestry Products & Furniture 12 2 13,12 8,28 25,26 7,29 Paper, Printing & Publishing 18 7 40,40 38,07 58,75 30,98 Chemicals, Oil Products, Rubber & Plastics 75 37 17,43 20,45 32,44 42,17 Stone, Rock & Soil Products 44 16 36,84 32,87 38,55 39,16 Basic Metals 78 9 13,29 9,20 16,76 11,46 Metal Products, Machinery & Equipment 55 22 40,24 35,76 42,18 37,69 Automotive 48 26 84,60 77,01 90,79 70,86 Other Manufacturing Industries 5 - - - - - Electricity 13 2 6,03 16,19 0 2,28 OVERALL 500 148 29,67 34,73 43,23 30,21 YASED International Investors Association 4

ANNEX: FOREIGN CAPITAL COMPANIES IN ISO-500 LIST * Companies which were not on the list of the previous year Ranking Share of 2008 2007 (from production Foreign in Turkey) (Mio. TRL) (%) 1 3 2 FORD OTOMOTİV SANAYİ A.Ş. 6.006.491.811 41,04 2 5 4 OYAK-RENAULT OTOMOBİL FABRİKALARI A.Ş. 4.710.974.763 51,00 3 6 8 TOFAŞ TÜRK OTOMOBİL FABRİKASI A.Ş. 4.184.361.976 37,86 4 13 5 TOYOTA OTOMOTİV SANAYİ TÜRKİYE A.Ş. 2.517.017.188 100,0 5 14 11 VESTEL ELEKTRONİK SAN. VE TİC. A.Ş. 2.371.851.254 51,59 6 17 16 UNİLEVER SANAYİ VE TİCARET TÜRK A.Ş. 2.091.647.721 99,98 7 21 12 MERCEDES-BENZ TÜRK A.Ş. 1.753.765.774 84,99 8 22 23 İPRAGAZ A.Ş. 1.703.748.636 100,0 9 24 21 BSH EV ALETLERİ SAN. VE TİC. A.Ş. 1.597.300.663 97,84 10 25 26 PHİLSA PHİLİP MORRİS SABANCI SİGARA VE TÜTÜNCÜLÜK SANAYİ VE TİCARET A.Ş. 1.438.111.853 7,00 11 27 43 İZMİR DEMİR ÇELİK SANAYİ A.Ş. 1.366.152.028 5,15 12 29 33 DİLER DEMİR ÇELİK ENDÜSTRİ VE TİC. A.Ş. 1.240.094.085 12,00 13 31 32 COCA-COLA İÇECEK A.Ş. 1.213.138.024 20,00 14 33 31 BORÇELİK ÇELİK SANAYİİ TİCARET A.Ş. 1.196.831.139 45,33 15 36 41 BORUSAN MANNESMANN BORU SANAYİ VE TİCARET A.Ş. 1.162.917.533 6,67 16 38 24 HYUNDAİ ASSAN OTOMOTİV SAN. VE TİC. A.Ş. 1.116.561.018 70,00 17 39 25 BOSCH SANAYİ VE TİCARET A.Ş. 1.116.260.094 100,0 18 44 54 HONDA TÜRKİYE A.Ş. 975.270.000 100,0 19 52 51 AKÇANSA ÇİMENTO SANAYİ VE TİCARET A.Ş. 791.232.480 39,72 *20 53 - AREVA T&D ENERJİ ENDÜSTRİSİ A.Ş. 762.212.816 99,97 21 54 49 BRİSA BRİDGESTONE SABANCI LASTİK SAN. VE TİC. A.Ş. 745.580.317 43,63 22 56 48 SİEMENS SANAYİ VE TİCARET A.Ş. 714.432.515 99,78 23 59 80 TÜRK TRAKTÖR VE ZİRAAT MAKİNELERİ A.Ş. 695.320.139 37,5 24 62 59 TÜRK PİRELLİ LASTİKLERİ A.Ş. 680.240.725 100,0 25 65 58 DELPHİ AUTOMOTİVE SYSTEMS LTD. ŞTİ. 659.907.982 100,0 26 72 85 ÜLKER ÇİKOLATA SANAYİ A.Ş. 631.602.695 38,00 27 73 53 TRAKYA CAM SAN. A.Ş. 611.507.616 9,56 28 76 62 TÜRK PRYSMİAN KABLO VE SİSTEMLERİ A.Ş. 605.513.517 83,70 29 77 77 TAT KONSERVE SANAYİİ A.Ş. 592.576.548 5,26 30 78 98 ARÇELİK-LG KLİMA SAN. VE TİC. A.Ş. 591.428.966 50,00 31 79 63 GOODYEAR LASTİKLERİ T.A.Ş. 587.284.106 74,6 32 83 70 NOKSEL ÇELİK BORU SANAYİ A.Ş. 570.745.458 40,00 33 87 66 MAN TÜRKİYE A.Ş. 549.555.872 99,98 34 93 103 JTİ TÜTÜN ÜRÜNLERİ SANAYİ A.Ş. 521.062.350 100,0 35 95 87 C.P. STANDART GIDA SANAYİ VE TİCARET A.Ş. 516.146.669 100,0 36 96 95 TÜRK DEMİR DÖKÜM FABRİKALARI A.Ş. 508.909.626 96,00 YASED International Investors Association 5

37 97 127 ENERJİSA ENERJİ ÜRETİM A.Ş. 498.934.000 50,00 *38 103 - FRİTO LAY GIDA SANAYİ TİC. A.Ş. 479.589.751 99,97 39 105 108 ÜLKER BİSKÜVİ SANAYİ A.Ş. 466.559.611 26,57 40 111 111 COMPONENTA DÖKTAŞ DÖKÜMCÜLÜK TİCARET VE SANAYİ A.Ş. 452.684.024 93,57 41 116 89 TÜRK HENKEL KİMYA SAN. VE TİC. A.Ş. 443.394.689 99,99 42 117 107 PAŞABAHÇE CAM SAN. VE TİC. A.Ş. 433.691.845 0,58 *43 118 - - 100,0 *44 119 - - 100,0 45 124 118 KENT GIDA MADDELERİ SANAYİİ VE TİC. A.Ş. 398.343.657 95,36 46 125 129 BAYER TÜRK KİMYA SANAYİ LTD. ŞTİ. 389.531.030 100,0 *47 131 - ECZACIBAŞI-ZENTİVA SAĞLIK ÜRÜNLERİ SAN. VE TİC. A.Ş. 300.983.780 75,00 48 133 125 ANADOLU İSUZU OTOMOTİV SANAYİ VE TİC. A.Ş. 171.412.820 29,75 49 142 100 ADVANSA SASA POLYESTER SANAYİ A.Ş. 359.960.727 51,00 50 148 126 AUTOLİV CANKOR OTOMOTİV EMNİYET SİSTEMLERİ SAN. VE TİC. A.Ş. 342.506.361 100,0 51 149 145 BETEK BOYA VE KİMYA SANAYİ A.Ş. 365.058.861 25,66 52 150 146 İNDESİT COMPANY BEYAZ EŞYA SANAYİ VE TİCARET A.Ş. 341.479.557 100,0 53 152 128 FEDERAL-MOGUL PİSTON SEGMAN VE GÖMLEK ÜRETİM TESİSLERİ A.Ş. 361.807.477 50,00 54 158 136 NEXANS TÜRKİYE ENDÜSTRİ VE TİC. A.Ş. 318.737.152 100,0 55 161 132 STARWOOD ORMAN ÜRÜNLERİ SANAYİ A.Ş. 335.884.799 0,3 56 163 158 NOVARTİS SAĞLIK GIDA VE TARIM ÜRÜNLERİ SAN. VE TİC. A.Ş. 333.163.857 100,0 57 176 160 DOĞAN GAZETECİLİK A.Ş. 292.707.911 22,00 58 177 167 ARTENİUS TURKPET KİM. MAD. VE PET AMB. MLZ. SAN. A.Ş. 308.829.562 100,0 *59 187 - - 70,00 60 193 284 SCHNEİDER ELEKTRİK SANAYİ VE TİCARET A.Ş. 269.190.141 99,99 *61 194 - PFİZER İLAÇLARI LİMİTED ŞİRKETİ 266.945.242 100,0 62 201 173 TİRE KUTSAN OLUKLU MUKAVVA KUTU VE KAĞIT SANAYİİ A.Ş. 261.575.528 77,19 63 202 196 POLİNAS PLASTİK SANAYİİ VE TİCARET A.Ş. 261.557.890 25,00 64 203 260 PERFETTİ VAN MELLE GIDA SAN. VE TİC. A.Ş. 259.180.588 100,0 65 209 137 YAZAKİ OTOMOTİV YAN SANAYİ VE TİCARET A.Ş. 255.581.035 100,0 66 211 198 İPEK KAĞIT SANAYİ VE TİC. A.Ş. 251.891.170 50,00 67 214 203 MOBİL OİL TÜRK A.Ş. 249.299.682 99,99 *68 218 - - 100,0 69 221 197 ÇİMENTAŞ İZMİR ÇİMENTO FABRİKASI TÜRK A.Ş. 243.999.682 97,8 70 222 273 BOSCH TERMOTEKNİK SAN. VE TİC. A.Ş. 242.382.168 100,0 71 227 289 TUSAŞ MOTOR SANAYİİ A.Ş. 237.407.634 46,00 YASED International Investors Association 6

*72 228 - - 20,00 73 230 177 CİMPOR YİBİTAŞ ÇİMENTO SANAYİ VE TİCARET A.Ş. 235.907.096 10,00 74 233 221 VİTRA KARO SAN. VE TİC. A.Ş. 233.865.817 1,20 75 234 - CARGİLL TARIM VE GIDA SANAYİ TİCARET A.Ş. 233.521.261 100,0 76 238 202 OLMUKSA İNTERNATIONAL PAPER-SABANCI AMBALAJ SAN. VE TİC. A.Ş. 225.320.842 43,73 *77 239 228 ONTEX TÜKETİM ÜRÜNLERİ SAN. VE TİC. A.Ş. 235.388.173 100,0 78 240 276 ARCELORMİTTAL AMBALAJ ÇELİĞİ SAN. VE TİC. A.Ş. 224.379.237 75,00 79 244 253 SOFRA YEMEK ÜRETİM VE HİZMET A.Ş. 224.723.108 50,00 80 250 425 TÜPRAG METAL MADENCİLİK SAN. VE TİC. A.Ş. 213.675.277 99,99 81 251 250 BİZİMGAZ TİC. VE SAN. A.Ş. 213.405.722 99,15 *82 252-99,99 83 253 321 DEMİRER KABLO TESİSLERİ SAN. VE TİC. A.Ş. 218.685.839 2,25 *84 260-92,5, 85 261 316 BEYÇELİK GESTAMP KALIP VE OTO YAN SANAYİ PAZARLAMA VE TİC. A.Ş. 206.470.289 50,00 86 262 233 PETROL OFİSİ A.Ş. 205.748.747 41,58 87 266 320 STANDARD PROFİL OTOMOTİV SAN. VE TİC. A.Ş. 203.940.784 100,0 88 270 356 ÇİMKO ÇİMENTO VE BETON SANAYİ TİCARET A.Ş. 205.178.761 30,00 89 275 257 HAYES LEMMERZ JANTAŞ JANT SAN. VE TİC. A.Ş. 200.201.945 60,00 90 284 231 TEKNİK MALZEME TİC. VE SAN. A.Ş. 191.880.390 50,00 91 289 322 PİLSA PLASTİK SANAYİ A.Ş. 192.772.454 100,0 92 290 297 BAYMAK MAKİNA SANAYİ VE TİCARET A.Ş. 186.659.840 50,00 93 293 262 MARSHALL BOYA VE VERNİK SANAYİİ A.Ş. 186.288.894 39,40 94 295 366 ALLİANCE ONE TÜTÜN A.Ş. 189.543.804 99,35 95 296 246 FAKO İLAÇLARI A.Ş. 184.185.328 100,0 96 304 294 EGE PROFİL TİC. VE SAN. A.Ş. 178.814.613 97,53 97 307 334 AYTAÇ GIDA YATIRIM SAN. VE TİC. A.Ş. 173.904.275 8,4 *98 310 - - 49,00 99 312 327 ALCATEL LUCENT TELETAŞ TELEKOMÜNİKASYON A.Ş. 172.742.732 65,00 100 314 396 BİOFARMA İLAÇ SANAYİ VE TİCARET A.Ş. 171.683.691 100,0 101 315 441 NORTEL NETWORKS NETAŞ TELEKOMÜNİKASYON A.Ş. 171.645.714 53,13 102 316 318 KALE KİLİT VE KALIP SAN. A.Ş. 171.470.994 24,34 103 320 279 DOW TÜRKİYE KİMYA SANAYİ VE TİCARET LTD. ŞTİ. 183.076.307 100,0 104 321 259 KONYA ÇİMENTO SANAYİİ A.Ş. 170.414.724 80,69 105 327 344 ÇELİKORD A.Ş. 168.000.339 100,0 106 328 172 TOYOTA BOSHOKU TÜRKİYE OTOMOTİV SAN. VE TİC. A.Ş. 167.965.885 100,0 107 337 213 DEVA HOLDİNG A.Ş. 162.327.040 82,24 YASED International Investors Association 7

108 341 447 109 343 256 110 348 317 MAJOR SKT OTO DONANIM SANAYİ VE TİCARET A.Ş. 160.249.073 50,00 ASSAN ÇELİK ÜRÜNLERİ SANAYİ VE TİCARET A.Ş. 159.589.601 1,00 AKZO NOBEL ENDÜSTRİ VE OTOMOBİL BOYALARI SAN. VE TİC. A.Ş. 156.553.465 51,00 111 350 329 COGNİS KİMYA SANAYİ VE TİCARET A.Ş 155.173.128 99,99 112 352 306 LAFARGE ASLAN ÇİMENTO A.Ş. 153.781.189 54,41 113 354 300 HAYES LEMMERZ İNCİ JANT SANAYİ A.Ş. 153.347.184 60,00 114 356 280 TERMO TEKNİK TİC. VE SAN. A.Ş. 151.622.554 100,0 115 362 397 KUMTEL DAYANIKLI TÜKETİM MALLARI PLASTİK SAN. VE TİC. A.Ş. 148.249.233 3,0 116 364 343 ORTADOĞU RULMAN SANAYİ VE TİCARET A.Ş. 146.380.214 3,35 *117 365 - PROGIDA PAZARLAMA A.Ş. 145.146.697 69,00 BOSCH FREN SİSTEMLERİ SAN. VE TİC. 118 370 363 A.Ş. 144.002.959 84,50 119 373 272 SET BETON MADENCİLİK SAN. VE TİC. A.Ş. 143.222.478 100,0 120 375 278 GÖLTAŞ GÖLLER BÖLGESİ ÇİMENTO SAN. VE TİC. A.Ş. 142.434.123 35,02 ALTEK ALARKO ELEKTRİK SANTRALLARI *121 377 - TESİS İŞLETME VE TİC. A.Ş. 141.514.882 50,00 122 380 271 DENİZLİ ÇİMENTO SANAYİİ T.A.Ş. 140.933.963 50,00 GRAMMER KOLTUK SİSTEMLERİ SANAYİ VE 123 381 404 TİCARET A.Ş. 140.678.540 99,75 124 382 428 AYDINLI HAZIR GİYİM SAN. VE TİC. A.Ş. 140.219.416 4,0 125 391 333 ÜNİTEKS GIDA TEKSTİL SANAYİ VE TİCARET A.Ş. 137.690.219 20,00 126 392 389 TAM GIDA SANAYİ VE TİCARET A.Ş. 137.549.171 6,22 127 394 335 ALARKO CARRIER SANAYİ VE TİCARET A.Ş. 137.029.958 42,03 128 396 414 HUGO BOSS TEKSTİL SANAYİİ LTD. ŞTİ. 136.710.701 100,0 129 406 337 FRESH CAKE GIDA SAN. VE TİC. A.Ş. 132.384.112 50,00 ADOÇİM ÇİMENTO BETON SAN. VE TİC. *130 410 - A.Ş. 131.450.085 50,00 *131 412 - ÖZMAYA SANAYİ A.Ş. 131.293.029 100,0 ECZACIBAŞI-BAXTER HASTANE ÜRÜNLERİ 132 415 359 SANAYİ VE TİCARET A.Ş. 129.918.852 50,00 GLAXOSMİTHKLİNE İLAÇLARI SANAYİ VE *133 416 - TİCARET A.Ş. 129.869.472 100,0 ROTOPAK MATBAACILIK AMBALAJ SAN. VE 134 425 357 TİC. A.Ş. 126.601.435 100,0 135 430 392 CROWN BEVCAN TÜRKİYE AMBALAJ SAN. VE TİC. A.Ş. 125.565.641 100,0 *136 443 - - 99,99 HEMA TRW OTOMOTİV DİREKSİYON 137 446 430 SİSTEMLERİ A.Ş. 120.291.983 20,00 138 447 465 İ.E. ULAGAY İLAÇ SAN. TÜRK A.Ş. 119.452.432 88,00 DORUK EV GEREÇLERİ SANAYİ VE TİC. *139 451 - LTD. ŞTİ. 118.320.139 99,00 *140 453 - ALCAN PACKAGİNG İZMİR GRAVÜR BASKILI 117.679.644 99,96 YASED International Investors Association 8

KARTON SAN. VE TİC. A.Ş. 141 454 493 BASF YAPI KİMYASALLARI SAN. A.Ş. 117.622.144 100,0 *142 459 - SCHOTT ORİM CAM SAN. VE TİC. A.Ş. 116.596.456 100,0 BAŞTAŞ BAŞKENT ÇİMENTO SANAYİİ VE 143 470 358 TİCARET A.Ş. 111.574.867 82,00 ONDULİNE AVRASYA İNŞAAT MALZEMELERİ 144 472 464 SAN. VE TİC. A.Ş. 111.304.724 100,0 145 476 476 SYNGENTA TARIM SAN. VE TİC. A.Ş. 110.276.525 100,0 *146 481 - - 99,99 *147 487 - - 100,0 *148 490 - JOTUN BOYA SANAYİ VE TİCARET A.Ş. 106.149.882 100,0 YASED International Investors Association 9