Capital Markets Board of Türkiye

Announcement Regarding the Principle Decision of the Board (i-SPK.81.1 dated 03/09/2026 and numbered 54/1626)

03 September 2026

The Board has decided, regarding the concept of free float shares for companies whose shares are traded on the Borsa İstanbul A.Ş. Equity Market, and the areas of application of this concept:

I. A) To define the term “free float shares” as a concept indicating the publicly held shareholding ratios of companies whose shares are traded on the Borsa İstanbul A.Ş. Equity Market,

I. B) To calculate the free float ratio by dividing the number of free float shares which can be tracked by the Central Registry Agency of Türkiye (MKK as the CSD) by the total number of shares which can be tracked by the MKK,

I. C) To exclude the shares from the definition of free float shares:

i) those owned by public legal entities,
ii) those owned by the company, the founders of the company, and its related entities (companies subject to consolidation),
iii) those acquired through buyback transactions executed in accordance with the CMB’s Communiqué No.II-22.1 on Repurchased Shares and the Principle Decisions of the Board regarding share buybacks,
iv) those owned by shareholders holding 10% or more of the company's capital,
v) those owned by the members of the Company’s Board of Directors and Board of Auditors, the General Manager (CEO) or those persons serving in positions equivalent to or higher than the General Manager in terms of authorities and duties, and senior executives (holding the title of Vice General Manager and similar) reporting directly to the General Manager or to persons equivalent to the general manager in terms of authorities and duties,
vi) those owned by the provident funds and foundations of the companies,
vii) those provided as collateral, except for those provided as equity capital under capital markets legislation, those acquired through margin trading and subject to collateral, or those provided as collateral for the markets of Istanbul Settlement and Custody Bank Inc (Takasbank),
viii) those legally restricted and cannot be the subject of purchase or sale,
ix) those banned from trading,
x) those subject to attachment

I. D) To also exclude from the concept of actual free float those shares with regard to the holders of shares excluded from the actual free-float calculation under clause (I.C), the issuer shares corresponding to their participation shares in the relevant fund or their shareholding ratio in the relevant publicly traded company—arising from the hedge and/or private hedge fund participation shares and publicly traded company shares they hold,

I. E) To also take into account, in the determination of shareholders holding 10% or more of the company's capital, the shares held by these shareholders through fund unit in hedge funds and/or private hedge funds and through shares in publicly-traded companies, in proportion to their ownership ratios in the relevant fund and/or publicly-traded company,

I. F) To exclude the shares from the definition of free float shares, in the event that these shares traded on foreign markets,
Regarding the implementation of the above-mentioned criteria, it has been further decided:

II. A) Within the scope of the envisioned amendments; to calculate and disclose to the public the free float number of shares and free float ratio data on a daily basis by the MKK, effective from September 11, 2026,

II. B) To require all companies whose shares are traded on the stock exchange to report the identity and title information of the real persons and legal entities falling within the scope of free float share criteria to MKK on the first business day of each month, and to authorize MKK in this regard,

II. C) To repeal the Decisions of the Board regarding free float dated 23.07.2010 and numbered 21/655, dated 19.08.2010 and numbered 24/729, dated 17.02.2011 and numbered 5/157, dated 30.10.2014 and numbered 31/1059, and dated 04.06.2026 and numbered 34/1044.