Events After the Balance Sheet Period

In the scope of the share buy-back program started by the Board of Directors on 9 November 2021 based on the matched transactions fulfilled after 31 December 2022 as of the report date, shares worth full TRY9.840, representing 0,48% of the Sabancı Holding Capital, were bought back for TRY391.683, including transaction costs. By the president’s decision, with the decision of the Official Gazette dated February 14, 2023, the withdrawal rate made on the shares or partnership shares of the full taxpayer or the partnership shares, the withholding rate was reduced to zero.

Regarding the reporting period that ended on 31 December 2022 after the earthquakes in our country on February 6, a limited time has passed to evaluate the reflections of the disaster on economic activity. All developments closely monitoring in order to manage its negative effect on the Group’s consolidated financial situation, consolidated financial performance and consolidated cash flows. Group management predicts that despite the current uncertainties, the Group’s business risks, and liquidity reserves will have limited impact.

Akbank’s Board of Directors decided to authorize the management to establish a 100% owned subsidiary in the Netherlands named Akbank Ventures BV, with USD 30.000 initial capital, to be able to invest in technology ventures, to undertake required applications and obtain legal approvals for the establishment of the company.

Akbank Board of Directors decided that meeting dated February 16, 2023, in order to support healthy price formations and stability at Akbank shares and to protect the interests of investors; a share buy- back shall be initiated pursuant to Capital Market Board’s Communique II-22.1 on Share Buybacks and the decision of the Capital Markets Board and the Principle Decision numbered 9/177 announced by the Capital Markets Board’s bulletin numbered 2023/10 dated February 14, 2023, up to 5.200.000.000 shares with a nominal value of TRY52.000 representing 1% of Bank’s issued share capital shall be repurchased, total maximum funds allocated for share buy-back transactions shall be determined as TRY1.000.000 the share buy-back shall be put on the agenda of the first following general assembly meeting, and shall be presented to the information of the shareholders at the general assembly, share buy-backs shall be conducted from the date of this decision until December 31, 2023 and the Head Office shall be authorized in matters related to the share buy-backs.