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Kocaer changes dividend decision

Kocaer Çelik made a statement to the Public Disclosure Platform (KAP) today and announced the change in the dividend decision.

Kocaer changes dividend decision

Kocaer Çelik announced that it has decided to pay a dividend of 0.1520750 TL gross and 0.1368675 TL net per share to be paid on July 3rd, 2024.

In a previous statement, Kocaer said, "The dividend distribution decision has been approved by the Savings Deposit Insurance Fund (TMSF) Fund Board, which has the authority of the general assembly." In the statement made by the company on May 6th, 2024 (today), the statement made with the statement "Correction of the phrase related to the approval of the SDIF Fund Board" was updated.

The official statement regarding the change made by Kocaer Çelik in the dividend decision was as follows:

"At the Board of Directors Meeting of our Company dated 03.05.2024 and numbered 2024/5;

Our company's net profit for the period belonging to the parent company in our consolidated financial statements prepared in accordance with the provisions of the Communiqué Serial: XI No: 29 of the Capital Markets Board is TL 1,186,704,182, and the net profit for the period in our financial statements according to the 2023 period Corporate Tax Declaration prepared in accordance with the provisions of the Tax Procedure Law is TL 977,384,426.

The total amount of the First Legal Reserves allocated in accordance with the Turkish Commercial Code is TL 88,323,734, and since this amount does not reach 20% of the issued capital, TL 88,323,734 First Legal Reserves is allocated from the net profit for the period of TL 977,384,426 in our financial statements prepared in accordance with the provisions of the Tax Procedure Law,

From the net profit for the period amounting to TL 1,186,704,182 in our consolidated financial statements prepared in accordance with the provisions of the Capital Markets Board Communiqué Serial: XI, No: 29, after setting aside TL 88,323,734 of First Legal Reserves to be set aside in accordance with the Turkish Commercial Code, the remaining TL 1,098,380,448. 380.448 TL remaining after setting aside the First Legal Reserves amounting to TL 88.323.734 TL to be set aside in accordance with the Turkish Commercial Code from the net profit for the period amounting to TL 1.101.461.608, which was reached by adding the Donations and Aids amounting to TL 3.081.160 made in 2023, 41.70%; TL 100.000.000 in cash and TL 359.343.365 in shares through capital additions, totaling TL 459.343.365 in total, to be distributed as First Dividend,

Since the amount of the first cash dividend to be distributed to the shareholders exceeds 5% of the issued capital, TL 380,210 Second Legal Reserves shall be set aside in accordance with the provisions of the Turkish Commercial Code,

According to our legal records, the remaining profit amounting to TL 340,727 shall not be distributed and set aside as Extraordinary Reserves,

To distribute the cash dividend of TL 100,000,000, which is the cash First Dividend amount allocated to be distributed to our company shareholders from the net profit for the period, in cash/account against the 2023 dividend coupons of our shares owned by our company shareholders,

Cash dividend payment to be made by July 3, 2024 at the latest,

It was decided to submit these issues to the approval of our shareholders at the Ordinary General Assembly Meeting of our Company for 2023.

It is respectfully announced to the public."

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