Cancellation of the Contemplated Joint Sale of CarrefourSA Shares

In the public disclosure statement dated August 4, 2021, by referencing the capital increase process announced on August 3, 2021 by CarrefourSA Carrefour Sabancı Ticaret Merkezi A.Ş. (CarrefourSA), it was announced that Sabancı Holding and Carrefour Nederland BV (CNBV), as major shareholders of CarrefourSA, had agreed to sell a total of CarrefourSA shares representing up to 6% of the share capital in the secondary market by the end of 2021, and to use the proceeds from such sale of shares primarily for the contemplated capital increase of CarrefourSA.

CarrefourSA released a public disclosure statement on December 31, 2021 stating that, upon re-evaluation of the matter, the Board of Directors of CarrefourSA had resolved; to cancel the contemplated capital increase at this stage since, after recalculations based on the Communiqué on Procedures and Principles Regarding the Application of the Article 376 of the Turkish Commercial Code No. 6102 (as amended on 26 December 2020) whereby certain losses are disregarded, it was attested and certified that the adjusted figure of CarrefourSA's equity presented in the statutory financial statements dated September 30, 2021 showed no capital loss or insolvency within the scope of Article 376 of the Turkish Commercial Code; and that therefore, there was no legal obligation for CarrefourSA's Board of Directors to take any action contemplated under said article.