POLHO/POLISAN HOLDING A.S. POLİSAN HOLDİNG A.Ş.

The “Pendik Land” owned by our subsidiary Poliport in Istanbul, Pendik district, located at Yayalar Zone 10724 Block 2nd parcel, Şeyhli Zone 10723 Block 3rd and 4th parcels, and also at Şeyhli District 10722 Block 2nd Parcel jointly owned by Poliport and Polisan Holding is accounted as investment property in our company’s consolidated financial statements. The revaluation of Pendik Land for year 2024 was carried out by Epos Gayrimenkul Danışmanlık ve Değerleme A.Ş., a real estate appraisal company Licensed by the Capital Markets Board. In the mentioned valuation report, the market value of the Pendik Land has been determined as TL 3.918.467.000. 

According to the Capital Markets Board Decision dated December 28, 2023, and numbered 81/1820, starting with the annual financial reports for the accounting period ending on 31 December 2023, it has been decided to apply inflation accounting in accordance with the Turkish Accounting Standard 29, Financial Reporting in Hyperinflationary Economies” (TAS 29). In accordance with TAS 29, the inflationary index obtained from the Consumer Price Index published by the Turkish Statistical Institute (‘TUIK’) is used in the inflationary accounting calculation. The value of the said investment property in our financial statements as of December 31, 2023, which was TL 2.673.650.000, is calculated as TL 3.860.183.022 TL using the 2024 index.

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