Dividend Distribution Policy

Emek Elektrik Endüstrisi A.Ş. Dividend Distribution Policy, under the scope of the Turkish Trade Law provisions, Capital Market Legislation and other related legislation, and the dividend distribution article of the Articles of Association, is an optimization function based on the variables of Investment Share, Business Capital, Employee Share and Risk Share.

Considering the market strategy, investment need, increasing the efficiency of employees and business, and the national/global economic conditions, and taking into account the balance between the expectations of the shareholders and Company needs, a recommendation is submitted to the General Board by the Board of Directors. The principle of determining the dividend share amount to be distributed in line with the decree taken on the General Board is adopted.

In case of an authorization is granted by the General Board in accordance with the Emek Elektrik Endüstrisi A.Ş. Articles of Association related article 30, it is possible to distribute dividend advance to the partners with a Board of Directors decree.

The dividend shares are adopted to be distributed to all of the current shares, without considering the issuance and acquisition dates, as equal and in shortest time possible, however within the determined legal periods, following the approval of the General board, they are distributed to the shareholders on the date determined by the General Board.

The General Board may transfer a part or all of the net profit to the extraordinary reserve. In case the Board of Directors of Emek Elektrik Endüstrisi A.Ş. offers to the General Board a non-distribution of the profit, the shareholders are briefed on the General Board Meeting regarding the reasons for this condition and the way of utilization of the non-distributed profit. This information is also provided on the activity report and website, and shared with public.

The dividend distribution policy is submitted for the approval of the shareholders on the General Board Meeting. This policy is review every year by the Board of Directors according to the presence of any adverse conditions on the national and global economy, and the status of the projects and funds on the agenda. The modifications on this policy are also submitted for the approval of the shareholders on the first general board meeting following the modification and publicized on the website.