Haci Omer Sabanci Holding A.s.BIST: SAHOL

Convenience Translation Into English Of Condensed Consolidated Financial Statements For The Interim Period 1 January - 30 September 2025

Nov 17, 2025 at 7:14 AM UTC · Issued by Haci Omer Sabanci Holding A.s.

HACI ÖMER SABANCI HOLDİNG A.Ş. CONVENIENCE TRANSLATION OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD 1 JANUARY - 30 SEPTEMBER 2025 (ORIGINALLY ISSUED IN TURKISH) CONTENTS PAGE CONDENSED CONSOLIDATED BALANCE SHEET 1-2 CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS 3 CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME 4 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY 5 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW 6 NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 7-63

NOTE 1 - ORGANISATION AND OPERATIONS OF THE GROUP 7

NOTE 2 - BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS 8

NOTE 3 - BUSINESS COMBINATIONS 17

NOTE 4 - SEGMENT REPORTING 19

NOTE 5 - CASH AND CASH EQUIVALENTS 23

NOTE 6 - BALANCES WITH THE CENTRAL BANK OF THE REPUBLIC TÜRKİYE 24

NOTE 7 - FINANCIAL ASSETS 24

NOTE 8 - OTHER RECEIVABLES AND PAYABLES 26

NOTE 9 - RECEIVABLES DUE TO FINANCE SECTOR OPERATIONS 27

NOTE 10 - DERIVATIVES 29

NOTE 11 - PREPAID EXPENSES AND DEFERRED INCOME 30

NOTE 12 - INVESTMENTS ACCOUNTED THROUGH EQUITY METHOD 30

NOTE 13 - PROPERTY, PLANT AND EQUIPMENT 32

NOTE 14 - INTANGIBLE ASSETS 34

NOTE 15 - RIGHT OF USE ASSETS 36

NOTE 16 - GOODWILL 37

NOTE 17 - FINANCIAL LIABILITIES 37

NOTE 18 - LIABILITIES FROM LEASING TRANSACTIONS 39

NOTE 19 - PAYABLES FROM FINANCE SECTOR OPERATIONS 40

NOTE 20 - TAX ASSETS AND LIABILITIES 41

NOTE 21 - PROVISIONS, CONTINGENT ASSETS AND LIABILITIES 45

NOTE 22 - OTHER ASSETS AND LIABILITIES 45

NOTE 23 - ASSETS AND LIABILITIES CLASSIFIED AS HELD FOR SALE AND DISCONTINUED OPERATION .46 NOTE 24 - EQUITY 46

NOTE 25 - REVENUE AND COST OF SALES 48

NOTE 26 - EXPENSES BY NATURE 49

NOTE 27 - OTHER INCOME AND EXPENSES FROM OPERATING ACTIVITIES 50

NOTE 28 - INCOME AND EXPENSES FROM INVESTING ACTIVITIES 51

NOTE 29 - FINANCE INCOME/EXPENSES 51

NOTE 30 - RELATED PARTY DISCLOSURES 52

NOTE 31 - COMMITMENTS 53

NOTE 32 - EXPLANATIONS REGARDING NET MONETARY POSITION GAINS/(LOSSES) 57

NOTE 33 - EARNINGS/LOSSES PER SHARE 57

NOTE 34 - NATURE AND LEVEL OF RISKS DERIVED FROM FINANCIAL INSTRUMENTS 58

NOTE 35 - EVENTS AFTER THE REPORTING PERIOD 62

		Unaudited	Audited
		Current	Prior
		Period	Period
	Note	30 September	31 December
	References	2025	2024
ASSETS
Current Assets		2.179.088.305	2.290.415.004
Cash and Cash Equivalents	5	139.277.129	140.204.126
Balances with the Central Bank of the Republic Türkiye	6	428.135.882	544.167.708
Financial Assets		190.634.384	173.812.669
- Fair Value Through Profit or Loss	7	55.435.612	47.165.006
- Fair Value Through Other Comprehensive Income	7	97.682.120	77.098.564
- Measured at Amortised Cost	7	34.871.854	46.965.400
- Time Deposits		2.644.798	2.583.699
Trade Receivables		18.965.154	18.688.531
Receivables due to Finance Sector Operations	9	1.210.388.749	1.222.373.889
Other Receivables	8	34.025.610	32.247.860
Derivative Financial Instruments	10	23.085.930	17.392.732
Inventories		36.520.213	39.326.085
Prepaid Expenses	11	54.368.536	54.234.895
Deferred Insurance Commission Expenses		4.860.530	4.481.945
Current Tax Assets	20	108.344	1.617.240
Other Current Assets	22	32.869.016	36.206.814

Assets Classified As Held for Sale	23	5.848.828	5.660.510
Non-current Assets		1.575.421.556	1.564.900.479
Financial Assets		634.111.080	649.549.270
- Fair Value Through Other Comprehensive Income	7	424.617.199	420.354.636
- Measured at Amortised Cost	7	209.063.675	229.194.634
- Time Deposits		430.206	-
Trade Receivables		3.134	3.340
Receivables due to Finance Sector Operations	9	505.851.809	480.395.892
Other Receivables	8	2.856.406	2.010.058
Derivative Financial Instruments	10	51.301.518	56.879.890
Investments Accounted Through Equity Method	12	135.963.125	138.668.565
Investment Property		4.251.474	4.298.481
Property, Plant and Equipment	13	129.907.914	126.056.239
Asset Right on Use	15	18.137.907	16.739.974
Intangible Assets		77.143.471	77.898.929
- Goodwill	16	19.803.211	20.240.432
- Other Non Current Assets	14	57.340.260	57.658.497
Prepaid Expenses	11	662.992	354.637
Deferred Insurance Commission Expenses		9.055.018	7.707.446
Deferred Tax Assets	20	4.433.093	1.954.554
Other Non Current Assets	22	1.742.615	2.383.204
TOTAL ASSETS		3.754.509.861	3.855.315.483

These condensed consolidated financial statements have been approved for issue by the Board of Directors on 4 November 2025. General Assembly has the right to change these condensed consolidated financial statements.

The accompanying notes form an integral part of these interim condensed consolidated financial statements.

		Unaudited	Audited
		Current	Prior
	Note	Period 30 September	Period 31 December
	References	2025	2024
Short Term Liabilities		2.827.179.130	2.948.521.803
Short Term Borrowings	17	167.521.463	155.863.397
Short Term Portion of Long-Term Borrowings	17	122.429.567	92.254.709
Liabilities from Leasing Transactions	18	2.795.151	2.339.374
Trade Payables		41.052.109	46.980.239
Payables due to Finance Sector Operations	19	2.273.966.262	2.440.055.336
Payables related to Employee Benefits		1.335.833	1.350.797
Other Payables	8	112.448.212	104.506.068
Derivative Financial Instruments	10	14.307.566	12.119.414
Government Incentives		-	8.745
Deferred Income	11	4.079.374	6.264.889
Current Tax Liabilities		2.610.352	2.374.602
Short Term Provisions		53.823.707	60.813.351
- Short Term Provisions for Employee		6.857.929	8.593.119
- Insurance Technical Provisions	21	40.647.464	48.546.066
- Other Short-Term Provisions	21	6.318.314	3.674.166
Other Short Term Liabilities	22	30.756.200	23.533.074
Liabilities Related to Asset Group Held for Sale	23	53.334	57.808
Long Term Liabilities		361.904.262	313.119.861
Long Term Borrowings	17	224.324.055	170.345.274
Liabilities from Leasing Transactions	18	12.674.010	11.141.025
Payables due to Finance Sector Operations	19	28.021.556	27.843.438
Other Payables	8	12.537.234	19.427.486
Derivative Financial Instruments	10	8.761.681	10.099.828
Government Incentives		-	40.723
Deferred Income	11	1.121.009	4.745.605
Long Term Provisions		52.774.595	47.566.809
- Long Term Provisions for Employee Benefits		6.668.216	6.992.750
- Insurance Technical Provisions	21	43.477.102	37.758.262
- Other Long-Term Provisions	21	2.629.277	2.815.797
Deferred Tax Liabilities	20	14.450.496	13.327.887
Other Long Term Liabilities	22	7.239.626	8.581.786
EQUITY		565.426.469	593.673.819
Equity Attributable to the Parent		340.973.240	355.291.023
Share Capital	24	2.100.376	2.100.376
Adjustment to Share Capital	24	155.664.869	155.664.869
Share Premium	24	640.868	640.868
Treasury shares (-)		(2.449.362)	(2.446.536)
Other Comprehensive Income or Expenses That
Will Not Be Reclassified to Profit or Loss		(4.413.688)	(4.461.249)
- Actuarial Gain/Loss		(4.413.688)	(4.461.249)
Other Comprehensive Income or Expenses
Will Be Reclassified to Profit or Loss		(46.832.084)	(41.541.236)
- Currency Translation Reserve		(16.310.510)	(17.252.040)
- Gains/Losses on Hedge		(25.589.915)	(18.611.663)
- Revaluation Reserve		(4.931.659)	(5.677.533)
Restricted Reserves		22.502.969	21.330.794
Retained Earnings		214.548.035	243.412.878
Profit/(Loss) for the Period		(788.743)	(19.409.741)
Non-controlling Interests		224.453.229	238.382.796
TOTAL EQUITY AND LIABILITIES		3.754.509.861	3.855.315.483

The accompanying notes form an integral part of these interim condensed consolidated financial statements.

		Unaudited	Unaudited
		Current	Current
		Period	Period	Unaudited	Unaudited
	Note	1 January-	1 January-	1 July-	1 July-
	References	30 September 2025 30 September 2024 30 September 2025			30 September 2024
CONTINUING OPERATIONS
Sales (net)	25	175.457.791	180.689.707	58.591.389	59.816.067
Cost of Sales (-)	25	(145.456.259)	(149.418.956)	(48.241.309)	(48.700.342)
Gross Profit From Non-Financial Operations		30.001.532	31.270.751	10.350.080	11.115.725
Interest, Premium, Commission and Other Income	25	671.378.814	653.119.414	219.295.203	227.268.473
Interest, Premium, Commission and Other Expense (-)	25	(525.079.137)	(500.838.156)	(172.673.639)	(188.762.544)
Gross Profit From Financial Operations		146.299.677	152.281.258	46.621.564	38.505.929
GROSS PROFIT		176.301.209	183.552.009	56.971.644	49.621.654
General Administrative Expenses (-)	26	(92.842.157)	(91.974.835)	(30.881.388)	(29.217.694)
Marketing, Selling and Distribution Expenses (-)	26	(41.166.680)	(42.503.969)	(13.250.143)	(14.268.343)
Research and Development Expenses (-)	26	(235.492)	(296.511)	(80.936)	(99.823)
Other Operating Income	27	23.074.121	20.927.744	7.529.984	6.681.750
Other Operating Expenses (-)	27	(13.163.745)	(12.802.108)	(4.556.091)	(3.185.686)
Share of Profit of investments
accounted for Using the Equity Method	4, 12	3.233.302	1.079.788	2.137.102	475.075
OPERATING PROFIT		55.200.558	57.982.118	17.870.172	10.006.933
Gains From Investment Activities	28	1.620.416	1.033.478	1.463.775	11.487
Losses From Investment Activities (-)	28	(619.217)	(139.006)	(225.011)	(129.670)
OPERATING PROFIT BEFORE
FINANCIAL EXPENSE		56.201.757	58.876.590	19.108.936	9.888.750
Financial Income	29	5.898.654	4.299.574	1.836.688	1.688.580
Financial Expenses (-)	29	(14.308.640)	(12.447.151)	(4.777.765)	(4.456.647)
Monetary Gain/(Loss)	32	(37.811.951)	(65.546.715)	(11.059.989)	(12.001.325)
NET INCOME/(LOSS) BEFORE TAX
FROM CONTINUING OPERATIONS		9.979.820	(14.817.702)	5.107.870	(4.880.642)
Tax Expe nse from Continuing Operations		(12.514.489)	(15.831.077)	(4.776.034)	(4.398.030)
Current Tax Expense		(7.876.882)	(7.879.323)	(1.580.008)	5.836.146
Deferred Tax Income/(Expense)	20	(4.637.607)	(7.951.754)	(3.196.026)	(10.234.176)
PROFIT/(LOSS) FOR THE PERIOD
FROM CONTINUING OPERATIONS		(2.534.669)	(30.648.779)	331.836	(9.278.672)
DISCONTINUED OPERATIONS
Income After Tax from Discontinued Operations		(189)	(276)	(41)	(276)
PROFIT/(LOSS) FOR THE PERIOD		(2.534.858)	(30.649.055)	331.795	(9.278.948)
ALLOCATION OF PROFIT/(LOSS)
- Non-controlling Interests		(1.746.115)	(15.815.470)	(347.008)	(5.524.668)
- Equityholders of the Parent		(788.743)	(14.833.585)	678.803	(3.754.280)
Earnings/(Losses) per share - hundreds of ordinary shares (TRY)	33	(0,38)	(7,16)	0,33	(1,81)
Earnings/(Losses) per share from continuing operations
- hundreds of ordinary shares (TRY)	33	(0,38)	(7,16)	0,33	(1,81)

The accompanying notes form an integral part of these condensed consolidated financial statements.

	Unaudited Current Period 1 January- 30 September 2025	Unaudited Prior Period 1 January- 30 September 2024	Unaudited 1 July- 30 September 2025	Unaudited 1 July- 30 September 2024
INCOME/(LOSS) FOR THE PERIOD	(2.534.858)	(30.649.055)	331.795	(9.278.948)
Other Comprehensive Income / (Loss): Items that will not be Reclassified To Profit or Loss	(167.639)	(661.239)	303.230	27.383
Actuarial (losses) / gains, after tax	(160.261)	(703.601)	286.411	(5.370)
Other comprehensive income/(expense)
shares of investments accounted
by equity method, after tax	(7.378)	42.362	16.819	32.753
Items that will be Reclassified
To Profit or Loss	(12.390.321)	(31.132.394)	(1.178.220)	(4.625.845)
Fair value gains/(losses) from
financial assets through other
comprehensive income, after tax	311.378	(9.894.450)	4.385.696	(87.417)
Currency translation differences	1.981.812	(18.327.414)	(2.992.377)	(2.051.663)
Cash flow hedges, after tax	(2.840.730)	(103.668)	(234.548)	(590.195)
Loss from the derivative
financial assets related to the hedging
of net investment in a foreign operation, after tax	(11.055.103)	(5.035.890)	(1.907.569)	(2.427.237)
Other comprehensive income/(expense) shares of
investments accounted by equity method, after tax	(787.678)	2.229.028	(429.422)	530.667
OTHER COMPREHENSIVE
INCOME/(LOSS) (AFTER TAX)	(12.557.960)	(31.793.633)	(874.990)	(4.598.462)
TOTAL COMPREHENSIVE INCOME/(LOSS)	(15.092.818)	(62.442.688)	(543.195)	(13.877.410)
ALLOCATION OF TOTAL COMPREHENSIVE INCOME
- Non-controlling Interests	(8.227.360)	(33.164.909)	(447.321)	(7.890.954)
- Equity Holders of the Parent	(6.865.458)	(29.277.779)	(95.874)	(5.986.456)

The accompanying notes form an integral part of these interim condensed consolidated financial statement.

CONVENIENCE TRANSLATION OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH HACI ÖMER SABANCI HOLDİNG A.Ş. CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE PERIOD ENDED 30 SEPTEMBER 2025 AND 2024

(Amounts on tables expressed in thousands of Turkish Lira ("TL") in terms of purchasing power of the TL on 30 September 2025 unless otherwise indicated.)

Items not to be reclassified to

accumulated othe r

comprehensive

income and expenses

Items to be reclassified to

accumulated othe r

comprehensive

income and expenses

Re taine d earnings

	Share capital	Adjustme nt to share capital	Treasury shares (-)	Share premium	Actuarial gains / losses	Currency translation reserve	Hedge reserve	Revaluation reserve	Restricted reserves	Re taine d earnings	Net income/(expense) for the period	Equity attributable to the parent	Noncontrolling interest	Total
Balance at 1 January 2024	2.040.404	155.622.208	(573.511)	640.865	(3.770.114)	(2.034.132)	(19.191.489)	22.544	19.592.187	219.371.960	27.937.832	399.658.754	297.831.411	697.490.165
Transfers	-	-	-	-	-	-	-	-	1.667.957	26.269.875	(27.937.832)	-	-	-
Dividends	-	-	-	-	-	-	-	-	-	(9.827.305)	-	(9.827.305)	(10.562.808)	(20.390.113)
Increase / (decrease) through share-based transactions Increase / (decrease) ownership interests in subsidiaries That do not result in a loss of control (*)	- 59.972	- 43.554	- (1.845.193)	- -	- -	- (73.369)	- 37.476	- -	- -	- 7.456.420	- -	- 5.678.860	135.463 (5.552.745)	135.463 126.115
Increase / (decrease) due to share buy back transactions	-	-	(16.459)	-	-	-	-	-	-	-	-	(16.459)	(24.686)	(41.145)
Transactions with noncontrolling shareholders	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total comprehensive income/(expenses)	-	-	-	-	(260.615)	(10.336.638)	122.294	(3.969.235)	-	-	(14.833.585)	(29.277.779)	(33.164.909)	(62.442.688)
Balances at 30 September 2024	2.100.376	155.665.762	(2.435.163)	640.865	(4.030.729)	(12.444.139)	(19.031.719)	(3.946.691)	21.260.144	243.270.950	(14.833.585)	366.216.071	248.661.726	614.877.797
Balance at 1 January 2025	2.100.376	155.664.869	(2.446.536)	640.868	(4.461.249)	(17.252.040)	(18.611.663)	(5.677.533)	21.330.794	243.412.878	(19.409.741)	355.291.023	238.382.796	593.673.819
Transfers	-	-	-	-	-	-	-	-	1.172.175	(20.581.916)	19.409.741	-	-	-
Dividends	-	-	-	-	-	-	-	-	-	(7.445.852)	-	(7.445.852)	(5.597.450)	(13.043.302)
Increase / (decrease) ownership interests in subsidiaries That do not result in a loss of control (**)	-	-	-	-	-	412.024	-	535.593	-	(837.075)	-	110.542	45.626	156.168
Acquisitions or Disposals of Subsidiaries(***)	-	- -		- -		(21.753)	(92.239)	(197)		-	- -	(114.189)	(146.133)	(260.322)
Increase / (decrease) due to share buy back transactions	-	- (2.826)		- -		-	-	-		-	- -	(2.826)	(4.250)	(7.076)
Total comprehensive income/(expenses)	-	- -		- 47.561		551.259	(6.886.013)	210.478		-	- (788.743)	(6.865.458)	(8.227.360)	(15.092.818)
Balances at 30 September 2025	2.100.376	155.664.869 (2.449.362)		640.868 (4.413.688)		(16.310.510)	(25.589.915)	(4.931.659) 22.502.96		9	214.548.035 (788.743)	340.973.240	224.453.229	565.426.469

(*) As a result of the merger transaction completed with the registration dated January 15, 2024, the financial assets of Exsa along with 50% of shares in Temsa Skoda Sabancı Ulaşım Araçları A.Ş., 100% of shares in Temsa Motorlu Araçlar Pazarlama ve Dağıtım A.Ş. and 100% of shares in Exsa Gayrimenkul Proje Geliştirme A.Ş. have been transferred to Grup's possession. As a result of the merger, a capital increase of TRY 59.972 nominal value has been made by Sabancı Holding, and the respective shares issued will be allocated to the other shareholders of Exsa except for Sabancı Holding upon completion of the necessary legal procedures before the Capital Markets Board. Additionally, with the decision made on September 28, 2024, as a result of the capital increase in the Group's subsidiary Çimsa Building Solution B.V., in which the Group's subsidiary Çimsa participated, the Group's share in the capital of CBS BV decreased from 79,01% to 71,38%. (**) Includes the acquisition of the 39% minority interest in Microtex Composites S.r.l., a subsidiary of Kordsa, one of the Group's subsidiaries, for a consideration of EUR 34.940.344 under the option agreement.

(***) Includes the disposal of 69,84% of the shares in Radiflow Ltd., a subsidiary of Sabancı DX, one of the Group's subsidiaries.

The accompanying notes form an integral part of these interim condensed consolidated financial statements.

Note References

Unaudited Current Period 1 January -

30 September 2025

Unaudited Prior Period 1 January -

30 September 2024

Net income/(loss) from continuning operations (2.534.669) (30.648.779)

Net income/(loss) from discontinued operations (189) (276)

Adjustments to reconcile income before taxation to net cash provided by operation activities:

Tax expense/income		12.514.489	15.831.077
Depreciation and amortization expenses	4	20.031.701	18.639.127
Expected Credit Loss Provision for Receivables from Finance Sector Activities	9	35.601.968	20.962.642
Changes in the fair value of derivative instruments		(7.393.833)	5.744.161
Interest Income/expense adjustments of non finance sector	28,29	6.200.999	4.824.819
Interest Income/expense adjustments of finance sector		13.762.552	20.789.789
Provision for employment termination benefits		1.420.367	1.384.435
Impairment charge on property, plant and equipment,intangible assets and investment property		(1.247.519)	106.176
Impairment an assets held for sale	23	459	94.007
Income from sale of property, plant and equipment,intangible assets and investment property	28	25.228	(16.818)
Adjustments for Retained Earnings of Investments Valued by Equity Method	12	(3.233.302)	(1.079.788)
Provision for /(reversal of) inventory impairment		(60.035)	151.605
Provision for /(reversal of) doubtful receivables		(904)	317.054
Unrealized Foreign Currency Conversion Differences		5.550.065	(13.532.010)
Monetargy Gain/(Loss) Net cash provided by operation activities before changes		(54.696.291)	(58.917.198)
in operating assets and liabilities
Changes in trade receivables		(275.513)	(242.362)
Changes in inventories		2.821.453	3.838.750
Changes in other receivables		(2.624.098)	(10.674.386)
Changes in prepaid expenses		(441.996)	(7.129.407)
Changes in derivative financial instruments		(5.927.082)	14.133.022
Changes in other assets		(1.749.991)	(22.214.357)
Changes in trade payables		(5.928.130)	(7.912.520)
Changes in other liabilities and other payables Changes in assets and liabilities in finance segment: Changes in financial investments		2.176.256 (35.719.238)	24.047.866 (22.673.768)
Changes in receivables from finance sector operations		(12.185.151)	32.063.528
Changes in payables from finance sector operations		(140.999.485)	(156.027.220)
Changes in Central Bank of the Republic of Türkiye account		116.031.826	107.957.722
Income taxes paid		(8.398.494)	(22.023.240)
Employment termination benefits paid		(936.932)	(1.179.417)
Net cash provided/(used in) from operating activities		(68.215.489)	(83.385.766)
Cash flow from investing activities; Sale / (Proceed) of fair value through other comprehensive income or amortized cost at financial asset		(35.025.351)	45.362.393
Cash outflow from purchasing of property, plant, equipment and intangible assets	13,14	(21.211.205)	(24.220.808)
Proceeds from sales of property, plant, equipment and intangible assets	13,14	1.427.689	591.588
Sale/ Proceeds from investment property		-	156.138
Cash inflow/(outflows) related to purchases for obtaining control of subsidiaries	3	-	(1.665.014)
Cash outflows from capital increase of Joint Ventures		(1.517.194)	-
Dividends received		4.459.683	4.509.871
Other cash inflows/outflows		-	60.348
Net cash provided from / (used in) investing activities		(51.866.378)	24.794.516
Cash flow from financing activities: Cash inflows from financial liabilities	17	434.003.118	146.346.743
Cash outflows from repayments of borrowings	17	(265.667.559)	(47.070.335)
Cash outflows from payments of lease liabilities	18	(3.757.352)	(3.268.717)
Cash outflow from share buyback transactions		(7.076)	(41.145)
Interest paid/(received) non-financial sector		(4.150.915)	(4.452.252)
Dividends paid		(11.445.332)	(19.662.673)
Net cash provided from financing activities		148.974.884	71.851.621
Effect of change in foreign currency rates on cash and cash equivalents		14.011.004	15.371.647
Monetary gain/(loss) on cash and cash equivalents		(37.819.489)	(48.939.909)
Net increase / (decrease) in cash and cash equivalents		5.084.532	(20.307.891)
Cash and cash equivalents in the beginning of the period (*)		124.575.050	151.907.727
Cash and cash equivalents at the end of the period		129.659.582	131.599.836

(*) Cash and cash equivalents at the end of the period comprise interest accruals of TRY 48.846 (30 September 2024: TRY 16.721). At the beginning and at the end of the current period, restricted deposit is TRY 15.629.076 and TRY 9.568.701, respectively (30 September 2024: TRY 18.288.606 and TRY 14.757.966 respectively).

The accompanying notes form an integral part of these interim condensed consolidated financial statements.

‌NOTE 1 - ORGANISATION AND OPERATIONS OF THE GROUP

Hacı Ömer Sabancı Holding A.Ş. (the "Holding") was established in 1967 to coordinate and perform liaison services regarding the activities of companies operating in various fields including mainly finance, manufacturing and trade. The Holding is registered in Türkiye. The number of employees as of 30 September 2025 is 62.924 (31 December 2024: 64.705). Holding's registered address is as follows:

Sabancı Center, 4. Levent, İstanbul, Türkiye.

The Holding is registered with the Capital Markets Board ("CMB") and its shares have been quoted on Borsa Istanbul ("BIST") (previously known as the Istanbul Stock Exchange ("ISE")) since 1997. As of 30 September 2025, the principal shareholders and their respective shareholding rates in the Holding are as follows (Note 24):

(%)

Sakıp Sabancı Holding A.Ş.	13,90
Serra Sabancı	7,02
Suzan Sabancı Sabancı	6,84
Çiğdem Sabancı	6,84
Other	65,40
	100,00

The Holding, its subsidiaries, associates and joint ventures are together referred as the "Group". The Holding is managed by Sabancı Family.

Güler Sabancı, who served as the Chairperson of the Board of Directors of Hacı Ömer Sabancı Holding A.Ş., stepped down from her position and left the Board of Directors following the Ordinary General Assembly Meeting (the "General Assembly") held on 27 March 2025. Hayri Çulhacı, who has been serving as a member of the Board of Directors, has been appointed as the Chairperson of the Board of Directors and Executive Member.

Subsidiaries

As of 30 September 2025, the type of activity of subsidiaries and their respective business segments in these condensed consolidated financial statements for the interim period are as follows:

Subsidiaries	Trade Stock Market	Type of Activity	Business Segment	Number of Employees	Registered Country
Agesa Hayat ve Emeklilik A.Ş. ("Agesa")	BİST	Individual Pension	Financial Services	2.198	Türkiye
Akbank T.A.Ş. ("Akbank")	BİST	Banking	Banking	16.166	Türkiye
Aksigorta A.Ş. ("Aksigorta")	BİST	Insurance	Financial Services	890	Türkiye
Carrefoursa Carrefour Sabancı Ticaret Merkezi A.Ş. ("Carrefoursa")	BİST	Trade	Other	10.445	Türkiye

Çimsa Çimento Sanayi ve Ticaret A.Ş. ("Çimsa") BİST Cement Material

Technologies

2.450 Türkiye

Dx Technology Services and Investment BV

("Dx BV") - Information Technology Digital 597 Netherlands

Cimsa Building Solutions B.V. ("CBS") - Cement Material Technologies

1.005 Netherlands

Sabancı İklim Teknolojileri A.Ş. ("İklim Teknolojileri") - Energy Energy 16 Türkiye

Kordsa Teknik Tekstil Anonim Şirketi ("Kordsa") BİST Tire reinforcement Material

Technologies

4.478 Türkiye

Teknosa İç ve Dış Ticaret A.Ş. ("Teknosa") BİST Trade Other 2.708 Türkiye

Tursa Sabancı Turizm ve Yatırım İşletmeleri A.Ş.

("Tursa") - Tourism Other 5 Türkiye

Temsa Motorlu Araçlar Pazarlama ve Dağıtım A.Ş. - Ticaret Other 33 Türkiye

Additionally, A.R.T.S. Ltd. is not a subsidiary of Bank; however, Bank has 100% control power on it.

A.R.T.S. Ltd. established as ''Structured Enterprise'' in November 1999 in order to provide long-term financing from abroad has been included in the consolidation by full consolidation method. For the purposes of segment information, Holding's stand-alone financial statements have been included within the "Other" business segment in Note 4.

NOTE 1 - ORGANISATION AND NATURE OF OPERATIONS (Continued) Joint Ventures

As of 30 September 2025, the nature of business and operating segments of the Joint Ventures which are accounted through equity method in the consolidated financial statements are as follows:

Trade

Stock Type of Business Number of

Joint Venture s Market Activity Segment Venture s Employees

Akçansa Çimento Sanayi ve Ticaret A.Ş. Heidelberg

("Akçansa")	BİST	Cement	Material Technologies	Materials	2.314
Brisa Bridgestone Sabancı Lastik Sanayi ve Ticaret A.Ş. ("Brisa")	BİST	Tire	Material Technologies	Bridgestone	3.532
Enerjisa Enerji A.Ş. ("Enerjisa Enerji")	BİST	Energy	Energy	E.ON SE	11.375
Enerjisa Üretim Santralleri A.Ş. ("Enerjisa Üretim")	-	Energy	Energy	E.ON SE	2.268
Temsa Skoda Sabancı Ulaşım Araçları A.Ş. ("Temsa Ulaşım Araçları")	-	Automotive	Energy	PPF Industry CO. B.V.	1.977

The Joint Ventures have been established in Türkiye.

‌NOTE 2 - BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS

Basis of Presentation

Statement of Compliance with TFRS

The consolidated financial statements of the Group have been prepared in accordance with Turkish Financial Reporting Standards ("TFRS") promulgated by the Public Oversight Accounting and Auditing Standards Authority ("POA") that are set out in the 5th article of the communiqué numbered II-14.1 "Communiqué on the Principles of Financial Reporting In Capital Markets" ("the Communiqué") announced by the Capital Markets Board ("CMB") on 13 June 2013 and published in Official Gazette numbered 28676.

The accompanying consolidated financial statements are presented in accordance with the "Announcement regarding to TAS Taxonomy" by POA and the format and mandatory information recommended by CMB.

Sabancı Holding, its Subsidiaries and Joint Ventures registered in Türkiye maintain their books of account and prepare their statutory financial statements in TL in accordance with the Turkish Commercial Code ("TCC"), tax legislation and the Uniform Chart of Accounts issued by the Ministry of Treasury and Finance, banking law, accounting principles and instructions promulgated by the Banking Regulation and the Supervision Agency ("BRSA") and TFRS together with notes and explanations related to the accounting and financial reporting standards issued by POA in case of no specific regulations have been introduced by these institutions.

Foreign Subsidiaries, Joint Ventures and Associates maintain their books of account in accordance with the laws and regulations in force in the countries in which they are registered. These consolidated financial statements have been prepared under the historical cost conversion except for the financial assets and liabilities presented at fair values, and the revaluations related to the differences between the carrying value and fair value of the non-current assets recognised in business combinations. Adjustments and restatements, required for the fair presentation of the consolidated financial statements in conformity with the TFRS, have been accounted for in the statutory financial statements, which are prepared in accordance with the historical cost principle.

NOTE 2 - BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Basis of Presentation(Continued)

Statement of Compliance with TFRS(Continued)
Functional and Presentation Currency
The individual financial statements of each Group entity are presented in the currency of the primary economic environment in which the entity operates (its functional currency). The results and financial position of each entity are expressed in TRY, which is the functional currency of the Company, and the presentation currency for the consolidated financial statements.

Financial reporting in hyperinflationary economies

Pursuant to the decision of the CMB dated 28 December 2023 and numbered 81/1820, it has been decided that issuers and capital market institutions subject to financial reporting regulations that entities applying TFRS to apply inflation accounting in accordance with TAS 29 Financial Reporting in Hyperinflationary Economies as of financial statements for the annual reporting period ending on or after 30 September 2025. In accordance with the aforementioned CMB decision and the announcement made by POA on 23 November 2023 and the "Guidance on Financial Reporting in Hyperinflationary Economies", the Group has prepared the consolidated financial statements as of 30 September 2025 by applying TAS 29. According to the standard, financial statements prepared in the currency of a hyperinflationary economy are presented in terms of the purchasing power of that currency at the balance sheet date. Prior period financial statements are also presented in the current measurement unit at the end of the reporting period for comparative purposes. The Group has therefore presented its consolidated financial statements as of 31 December 2024 and 30 September 2024, on the purchasing power basis as of 30 September 2025.

As of 30 September 2025, the indices and adjustment coefficients which obtained from the Consumer Price Index (CPI) of Türkiye published by the Turkish Statistical Institute (TÜİK) and used in the adjustment of the consolidated financial statements for the current and prior periods since 1 January 2005, the date on which TL ceased to be designated as the currency of a hyperinflationary economy, are as follows:

Date	Index	Conversion Factor	Three-year Inflation Rate
30 September 2025	3.367,22	1,00000	222%
31 December 2024	2.684,55	1,25430	291%
30 September 2024	2.526,16	1,33294	343%

The main factors regarding financial reporting in hyperinflationary economies are as follows:

- Current period consolidated financial statements prepared in TL are expressed in terms of the purchasing power at the balance sheet date, and amounts from previous reporting periods are also adjusted and expressed in terms of the purchasing power at the end of the reporting period.

NOTE 2 - BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Basis of Presentation(Continued)

Financial reporting in hyperinflationary economies(Continued)
- Monetary assets and liabilities (such as cash and cash equivalents, trade receivables and payables, receivables and payables from financial sector operations, borrowings) are not adjusted as they are already expressed in terms of the current purchasing power at the balance sheet date. In cases where the inflation-adjusted values of non-monetary items (such as inventories, property, plant and equipment, intangible assets, investment properties and equity items) exceed their recoverable amount or net realizable value, the provisions of TAS 36 "Impairment of Assets" and TAS 2 "Inventories" are applied, respectively.
- Non-monetary assets and liabilities and equity items that are not expressed in terms of the current purchasing power at the balance sheet date have been adjusted using the relevant adjustment coefficients.
- All items in the comprehensive income statement, except for those that have an impact on the comprehensive income statement of non-monetary items on the balance sheet, have been indexed using the coefficients calculated for the periods when the income and expense accounts were first reflected in the financial statements.
- The impact of inflation on the Group's net monetary asset position in the current period is recognized
  under net monetary gain/(loss) account in the consolidated income statement.

New and Revised Turkish Accounting Standards

The accounting policies adopted in preparation of the consolidated financial statements as of 30 September 2025 are consistent with those of the previous financial year, except for the adoption of new and amended TFRS and TFRS interpretations effective as of 1 January 2025 and thereafter. The effects of these standards and interpretations on the Group's financial position and performance have been disclosed in the related paragraphs.

The new standards, amendments and interpretations which are effective as of January 1, 2025, are as follows:
Amendments to TAS 21 Lack of Exchangeability
Amendments to TAS 21 Lack of Exchangeability
The amendments contain guidance to specify when a currency is exchangeable and how to determine the exchange rate when it is not. Amendments are effective from annual reporting periods beginning on or after 1 January 2025.
The Group evaluates the effects of these standards, amendments and improvements on the consolidated financial statements.
These changes did not have a significant impact on the financial position and performance of the Group.
NOTE 2 - BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS (Continued)
1. New and Revised Turkish Accounting Standards (Continued)
Standards issued but not yet effective and not early adopted:

TFRS 17 Insurance Contracts

Amendments to TFRS 17 Initial Application of TFRS 17 and TFRS 9 - Comparative Information

TFRS 18 Presentation and Disclosures in Financial Statements

Amendments TFRS 9 and TFRS 7 Classification and measurement of financial instruments

Amendments TFRS 9 and TFRS 7 Power purchase arrangements

TFRS 19 Subsidiaries without Public Accountability: Disclosures

TFRS 17 Insurance Contracts

TFRS 17 requires insurance liabilities to be measured at a current fulfillment value and provides a more uniform measurement and presentation approach for all insurance contracts. These requirements are designed to achieve the goal of a consistent, principle-based accounting for insurance contracts. TFRS 17 has been deferred for insurance, reinsurance and pension companies for a further year and will replace TFRS 4 Insurance Contracts on 1 January 2026.

Amendments to TFRS 17 Insurance Contracts and Initial Application of TFRS 17 and TFRS 9 -

Comparative Information

Amendments have been made in TFRS 17 in order to reduce the implementation costs, to explain the results and to facilitate the initial application.

The amendment permits entities that first apply TFRS 17 and TFRS 9 at the same time to present comparative information about a financial asset as if the classification and measurement requirements of TFRS 9 had been applied to that financial asset before. Amendments are effective with the first application of TFRS 17.

The amendments will be applied upon the initial application of TFRS 17.

TFRS 18 Presentation and Disclosures in Financial Statements

TFRS 18 includes requirements for all entities applying TFRS for the presentation and disclosure of information in financial statements. Applicable to annual reporting periods beginning on or after 1 January 2027.

NOTE 2 - BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS (Continued)

New and Revised Turkish Accounting Standards (Continued)
1. Standards issued but not yet effective and not early adopted: (Continued)
  Amendments TFRS 9 and TFRS 7 regarding the classification and measurement of financial instruments
  The amendments address matters identified during the post-implementation review of the classification and measurement requirements of TFRS 9 Financial Instruments. Amendments are effective from annual reporting periods beginning on or after 1 January 2026.
  Amendments TFRS 9 and TFRS 7 regarding power purchase arrangements
  The amendments aim at enabling entities to include information in their financial statements that in the IASB's view more faithfully represents contracts referencing nature-dependent electricity. Amendments are effective from annual reporting periods beginning on or after 1 January 2026.
  TFRS 19 Subsidiaries without Public Accountability: Disclosures
  TFRS 19 specifies the disclosure requirements an eligible subsidiary is permitted to apply instead of the disclosure requirements in other IFRS Accounting Standards. Applicable to annual reporting periods beginning on or after 1 January 2027.
  The impact of these amendments on the financial position and performance of the Group is being assessed.
2. The new amendments that are issued by the International Accounting Standards Board (IASB) but not issued by Public Oversight Authority (POA):
The following amendments to IAS 21 and IFRS 18 are issued by IASB but not yet adapted/issued by POA. Therefore, they do not constitute part of TFRS. The Group will make the necessary changes to its condensed consolidated financial statements after the amendments and new Standard are issued and become effective under TFRS.
- Amendments to IFRS 9 and IFRS 7 - Classification and Measurement of Financial Instruments
- IFRS 19 - New Subsidiaries without Public Accountability: Disclosures
Changes in Accounting Policies, Estimates and Errors
Any change in accounting policies resulting from the first time adoption of a new TFRS is made either retrospectively or prospectively in accordance with the transition requirements of TFRS. Changes without any transition requirement, material changes in accounting policies or material errors are corrected, retrospectively by restating the prior period consolidated financial statements.
If changes in accounting estimates are related to only one period, they are recognised in the period when the changes are applied; if changes in estimates are related to future periods, they are recognized both in the period where the change is applied and in future periods prospectively. The Group doesn't have any significant changes in accounting policy and accounting estimates in the current period.
NOTE 2 - BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Summary of Significant Accounting Policies
The interim condensed consolidated financial statements for the period ended 30 September 2025 have been prepared in accordance with TAS 34. The accounting policies used in the preparation of these interim condensed consolidated financial statements for the period ended 30 September 2025 are consistent with those used in the preparation of annual consolidated financial statements for the year ended 31 December 2024. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the annual consolidated financial statements for the year ended 31 December 2024.
The significant accounting policies applied in the preparation of consolidated financial statements are summarized below:
1. Basis of Consolidation

The consolidated financial statements include the accounts of the parent company, Hacı Ömer Sabancı Holding A.Ş., its Subsidiaries and Joint Ventures (collectively referred to as the "Group") on the basis set out in sections (b) to (e) below. The financial statements of the companies included in the scope of consolidation have been prepared at the date of the consolidated financial statements, and are prepared in accordance with Turkish Financial Reporting Standards as explained in Note 2.1.1. The result of operations of Subsidiaries, Joint Ventures and Associates are included or excluded in these consolidated financial statements subsequent to the date of acquisition or date of sale respectively.
Subsidiaries are companies in which the Holding has direct or indirect control. The Group control subsidiaries when it is exposed to variable returns from its involvement with an entity, or if the has a right to the returns, but also has the ability to influence these returns through its power over the company.
Changes in the Group's ownership interests in subsidiaries that do not result in the Group losing control over the subsidiaries are accounted for as equity transactions. The carrying amounts of the Group's interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to owners of the Company.

When the Group loses control of a subsidiary, a gain or loss is recognized in profit or loss and is calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill), and liabilities of the subsidiary and any non-controlling interests. All amounts previously recognized in other comprehensive income in relation to that subsidiary are accounted for as if the Group had directly disposed of the related assets or liabilities of the subsidiary (i.e. reclassified to profit or loss or transferred to another category of equity as specified/permitted by applicable TFRS). The fair value of any investment retained in the former subsidiary at the date when control is lost is regarded as the fair value on initial recognition for subsequent accounting under TFRS 9 Financial Instruments, when applicable, the cost on initial recognition of an investment in an associate or a joint venture.

The companies which Holding has less that 50% shares are considered as subsidiaries since Holding exercises a dominant influence and power to govern the financial and operating policies through exercise of voting power related to shares held by Holding together with voting power which Holding effectively exercises related to shares held by Sabancı family members. Sabancı family members allow Holding to exercise voting power in respect of shares held in these companies. In the accompanying consolidated financial statements the shares held by Sabancı family members are presented as non-controlling interest.

NOTE 2 - BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Summary of Significant Accounting Policies (Continued)
1. Basis of Consolidation (Continued)

The table below sets out all consolidated Subsidiaries and shows the proportion of ownership interest and the effective interest of the Holding in these subsidiaries at 30 September 2025 and 31 December 2024:

30 September 2025 31 December 2024 Direct and Direct and

indirect

ownership interest by the

indirect

ownership interest by the

	Holding and its subsidiaries	Proportion of ownership Interest	Holding and its subsidiaries	Proportion of ownership Interest
Subsidiaries	(%)	(%)	(%)	(%)
Agesa	40,37	40,37	40,36	40,36
Akbank	40,75	40,75	40,75	40,75
Aksigorta	36,00	36,00	36,00	36,00
Carrefoursa	57,12	57,12	57,12	57,12
Cimsa Building Solutions B.V.	100,00	71,38	100,00	71,38
Çimsa	63,52	58,10	63,52	58,10
Dx BV	100,00	100,00	100,00	100,00
Kordsa	71,11	71,11	71,11	71,11
Teknosa	50,00	50,00	50,00	50,00
Tursa	100,00	100,00	100,00	100,00
SabancıDX (*)	100,00	100,00	100,00	100,00
Sabancı İklim Teknolojileri	100,00	100,00	100,00	100,00
Temsa Motorlu Araçlar	100,00	100,00	100,00	100,00

(*) Includes the disposal of 69,84% of the shares in Radiflow Ltd., a subsidiary of Sabancı DX, one of the Group's subsidiaries.

The balance sheets and statements of profıt or loss of the Subsidiaries are consolidated on a line-by-line basis and the carrying value of the shares held by the Holding and its Subsidiaries is deducted from the related shareholders' equity. Intercompany transactions and balances between the Holding and its Subsidiaries are eliminated in consolidation. The cost of financing the shares in Subsidiaries held by the Holding and its Subsidiaries and the dividends pertaining to these shares are deducted from equity and income for the period, respectively.

The Subsidiaries are included into or excluded from the scope of consolidation subsequent to the date of transmission of the control to the Group. The shares of non-controlling shareholders in the net assets and operating results of Subsidiaries are presented in the consolidated balance sheet and profit or loss table as non-controlling interests. Sabancı Family, "Sabancı Foundation" and a retirement fund for Akbank employees called "Akbank Retirement Fund" established both by Sabancı Family, have a share in the capitals of some subsidiaries and affiliates which are accounted in the consolidated financial statements. This share is considered as non-controlling share in the consolidated financial statements and it is not included in the current period profit.

NOTE 2 - BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Summary of Significant Accounting Policies (Continued)
1. Basis of Consolidation (Continued)

Joint venture - Holding and its subsidiaries have rights on net assets relating to operations subject to a joint arrangement, such net assets are accounted through equity method in the consolidated financial statements.

According to the equity method, the joint venture investment is initially recognized at its acquisition cost. After the acquisition date, the investor's share in the profit or loss of the investee is reflected in the financial statements by increasing or decreasing the book value of the investment. The investor's share of the profit or loss of the investee is recognized as the investor's profit or loss. Distributions (dividends, etc.) received from an investee reduce the book value of the investment. The book value of the investee must be adjusted in proportion to the investor's share of the changes in the other comprehensive income of the enterprise. In the event that there are transactions that are not reflected in the profit or loss statement or other comprehensive income statement of the investee but create a change in its equity, the Group recognizes the value of the investment in equity in the amount corresponding to its share of the relevant change.

The table below sets out the Joint Ventures and shows the proportion of ownership interest and effective interest of the Holding in these Joint Ventures at 30 September 2025 and 31 December 2024:

30 September 2025 31 December 2024

	Direct and		Direct and
	indirect ownership		indirect ownership
	interest by the Holding	Proportion	interest by the Holding	Proportion
	and its subsidiaries	of ownership Interest	and its subsidiaries	of ownership Interest
Joint Ventures	(%)	(%)	(%)	(%)
Akçansa	39,72	39,72	39,72	39,72
Brisa	43,63	43,63	43,63	43,63
Enerjisa Enerji	40,00	40,00	40,00	40,00
Enerjisa Üretim	50,00	50,00	50,00	50,00
Temsa Ulaşım Araçları	50,00	50,00	50,00	50,00

Investments in Joint Ventures were consolidated by equity method. Sabancı family members do not have

any interest in the share capital of the Joint Ventures.

NOTE 2 - BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS (Continued) 2.4 Summary of Significant Accounting Policies (Continued)

Comparatives and Restatement of Prior Year Financial Statements
The current period condensed consolidated financial statements of the Group include comparative financial information to enable the determination of the trends in financial position and performance. Comparative figures are reclassified, where necessary, to conform to the changes in the presentation of the current period condensed consolidated financial statements.
Figures for the previous reporting period are restated by applying the general price index so that the comparative financial statements are presented in the currency of the reporting period end. Information disclosed for prior periods is also expressed in the currency of the reporting period.
Critical accounting estimates and assumptions

When preparing the consolidated financial statements according to Turkish Financial Reporting Standards, Group management must make some assumptions and estimations which identify the amount of income and expenses as of the reporting period, which identify liabilities and commitments likely to occur as of the balance sheet date and which may affect the amount of assets and liabilities which are reported. These estimations and assumptions may differ from actual results even though they are based on the best knowledge of Group management regarding current events and transactions. Estimations are reviewed regularly, and necessary adjustments are made and reflected on the statement of income for the relevant period. If changes in accounting estimations are related to one period only, they are reflected in the financial statements in the current period of the change. If they are related to future periods, they are reflected in the financial statements prospectively, both in the period of the change and in the future period, and are considered when defining the net period profit or loss.

‌NOTE 3 - BUSINESS COMBINATIONS The business combinations between the period 1 January and 30 September 2025 are as follows:

There is no business combination.

The business combinations between the period 1 January and 31 December 2024 are as follows:

Sabancı DxBV and ICT Bulut Bilişim A.Ş. (Bulutistan), all shares representing 65% of Bulutistan capital

were acquired by DxBV for a price USD 39.000 on 23 August 2024.

Additionally, representing 10,5% of total shares in Bulutistan are held by Sabancı Holding Özel Girişim Sermayesi Yatırım Fonu (Corporate Venture Capital Fund of Sabancı Holding, "Sabancı Ventures").

Bulutistan will be consolidated in the financial statements of Sabancı Holding as total effective ownership interest in Bulutistan will be at 75,5% held indirectly through DxBV and Sabancı Ventures, upon this acquisition.

In this scope, the fair values of the identifiable assets, liabilities, and conditional liabilities of relevant companies of the reporting period amounts were reflected in the financial statements prepared in accordance with IFRS.

As per the TFRS 3 standard, the measuring period was defined to be a maximum of one year as of the date of

purchase, and if added information arises following the completion of liabilities may be recognized.	the	report,	additional assets and
Purchase price and recorded assets and liabilities on the date of purchase:			Bulutistan
Cash and cash equivalents			61.477
Trade receivables			181.922
Other current assets			34.885
Property, plant and equipment			206.227
Intangible assets			1.313.424
Other non-current assets			464.677
Financial borrowings			(127.606)
Financial lease liabilities			(265.961)
Deferred tax assets/(liabilities),net			(335.411)
Other liabilities			(164.527)
Total net identifiable assets (100%)			1.369.107
Corresponding to 75,5%of the purchased			1.033.676
Transfers(*)			279.758
Goodwill			911.096
Ownership rate			%75,5
Non-controlling interest			335.431
Cash outflow due to acquisitions			1.665.014
Cash and cash equivalents - acquired			(61.477)
Cash outflow arising from acquisition (net)			1.603.537

(*) This relates to the transfer of the fair value of Bulutistan shares previously acquired by Sabancı Holding Venture Capital Investment Fund to the purchase price allocation after the acquisition. As a result of the acquisition, the portion of the fair value of the acquired identifiable assets, liabilities, and contingent liabilities exceeding the purchase price, amounting to TRY 911.096, has been recorded as goodwill in the accompanying consolidated financial statements.

NOTE 3 - BUSINESS COMBINATIONS (Continued) The business combinations between the period 1 January and 31 December 2024 are as follows (continued)

With the closing transaction on 1 October 2024, effective as of 1 October 2024, the Group acquired 94.7% of the issued share capital of Mannok Holdings Designated Activity Company (Mannok), thereby obtaining control over Mannok, which qualifies as a business as defined under IFRS 3 Business Combinations Standard.

As part of the Group's strategy to expand in the global building materials market, the acquisition of Mannok-an Ireland-based company engaged in the production and sale of cement, cement-based products (such as tiles, precast, and aerated concrete), insulation materials, and recycled plastic packaging-aims to diversify the geographies and industries in which the Group operates, while also increasing the share of foreign currency-based revenues in total revenue.

As per the TFRS 3 standard, the measuring period was defined to be a maximum of one year as of the date of

purchase, and if added information arises following the completion of liabilities may be recognized. Purchase price and recorded assets and liabilities on the date of purchase:	the	report,	additional assets and
Cash and cash equivalents			Mannok 432.432
Inventories			2.253.361
Trade and other receivables			2.860.805
Property, plant and equipment			6.684.308
Intangible assets			8.155.916
Financial borrowings			(2.541.671)
Deferred tax assets/(liabilities),net			(1.032.732)
Trade payables and other payables			(2.348.331)
Other liabilities			(2.862.274)
Total net identifiable assets (100%)			11.601.814
Corresponding to 75,5%of the purchased			10.992.017
Goodwill			1.028.711
Ownership rate			%94,7
Non-controlling interest			609.797
Cash outflow due to acquisitions			12.020.728
Cash and cash equivalents - acquired			(432.432)
Cash outflow arising from acquisition (net)			11.588.296

The excess amount of TRY 1.028.711, which exceeds the purchase consideration over the fair value of the identifiable assets acquired, liabilities assumed and contingent liabilities as a result of the acquisition, has been recognized as goodwill in the accompanying consolidated financial statements.

‌NOTE 4 - SEGMENT REPORTING

The Group, in line with its strategic priorities to focus on expanding core businesses and investing in new growth platforms; a decision has been made to restructure Mobility Solutions strategic business units. Within the scope of this restructuring, the operations of Brisa have been classified under the Materials Technologies segment; the operations of Temsa Ulaşım have been classified under the Energy segment; and the operations of Temsa Motorlu Araçlar and Teknosa have been classified under the Other segment. The segment data for the period between January 1 - June 30, 2024 has been restated to reflect the changes made in the period between January 1 - June 30, 2025.

The financial information of the Joint Ventures has been included in the segment results, prepared within the framework of the Group's managerial approach, by full consolidation method (as 100%). The segment reporting information prepared in conformity with this approach is defined as "combined financial information".

1 January - 30 September 2025	Banking	Financial Services	Energy	Material Tecnologies	Digital	Other	Total
Combined revenue	633.576.429	49.200.402	247.488.817	108.455.531	3.815.455	127.539.217	1.170.075.851
Combined gross profit	140.917.958	1.656.264	50.645.317	17.560.665	588.119	31.149.883	242.518.206
Operating expenses Other operating	(94.472.979)	(10.924.860)	(20.290.589)	(12.115.677)	(970.587)	(24.367.062)	(163.141.754)
income/(expenses) (net)	2.150.692	13.587.014	1.275.463	348.444	3.462	(572.076)	16.792.999
Exchange gains/(losses) and credit finance
income/(charges) from operating activities (net)	-	507.652	3.867.202	871.526	132.118	(5.853.031)	(474.533)
Group share on profit/loss of joint ventures	-	-	(61.666)	-	-	-	(61.666)
Combined operating profit	48.595.671	4.826.070	35.435.727	6.664.958	(246.888)	357.714	95.633.252
Gains/(losses) from
investment activities (net)	1.560.088	3.149.319	7.250	365.235	(102.547)	3.190.048	8.169.393
Financial income/expenses (net)	-	(384.680)	(28.301.290)	(6.441.361)	(222.533)	(9.027.064)	(44.376.928)
Monetary gain/(loss)	(41.372.714)	(3.126.343)	8.257.112	3.465.418	91.488	4.588.874	(28.096.165)
Combined profit/(loss) before tax	8.783.045	4.464.366	15.398.799	4.054.250	(480.480)	(890.428)	31.329.552

Tax income/(expense) (net)	(11.711.310)	(1.906.529)	(7.637.194)	(1.851.395)	72.990	1.350.283	(21.683.155)
Profit after tax from
discontinued operations	-	-	-	(189)	-	-	(189)
Combined net profit/(loss) for the period	(2.928.265)	2.557.837	7.761.605	2.202.666	(407.490)	459.855	9.646.208
Net profit/(loss) for the period (*)	(1.186.989)	1.030.803	4.215.320	1.228.353	(378.475)	(5.697.755)	(788.743)
		Financial		Material
1 January - 30 September 2024	Banking	Services	Energy	Tecnologies	Digital	Other	Total
Combined revenue	605.725.839	55.030.407	244.725.917	111.815.430	2.828.186	137.242.569	1.157.368.348
Combined gross profit	148.731.329	140.896	46.032.126	21.239.132	426.790	33.673.477	250.243.750
Operating expenses	(96.193.892)	(9.387.811)	(19.602.955)	(11.619.571)	(1.146.342)	(23.887.687)	(161.838.258)
Other operating
income/(expenses) (net)	2.715.120	10.596.535	20.805	454.851	52.243	(47.885)	13.791.669
Exchange gains/(losses) and credit finance
income/(charges) from operating activities (net)	-	731.156	5.412.616	65.002	16.979	(6.312.008)	(86.255)
Combined operating profit	55.252.557	2.080.776	31.862.592	10.139.414	(650.330)	3.425.897	102.110.906
Gains/(losses) from investment activities (net)	205.587	1.912.156	(20.541)	616.107	(120.121)	4.462.338	7.055.526
Financial income/expenses (net)	-	(349.433)	(24.782.772)	(5.729.527)	24.409	(7.723.023)	(38.560.346)
Monetary gain/(loss)	(66.508.162)	(4.167.267)	6.841.177	2.384.979	9.990	4.498.683	(56.940.600)
Combined profit/(loss) before tax	(11.050.018)	(523.768)	13.900.456	7.410.973	(736.052)	4.663.895	13.665.486

Tax income/(expense) (net)	(14.323.023)	(210.092)	(15.072.557)	(2.034.594)	42.122	(143.276)	(31.741.420)
Profit after tax from
discontinued operations	-	-	-	(276)	-	-	(276)
Combined net profit/(loss) for the period	(25.373.041)	(733.860)	(1.172.101)	5.376.103	(693.930)	4.520.619	(18.076.210)
Net profit/(loss) for the period (*)	(10.339.514)	(258.848)	(233.353)	2.405.448	(598.559)	(5.808.759)	(14.833.585)

(*) Represents consolidated net profit attributable to the equity holders of the parent.

NOTE 4 - SEGMENT REPORTING (Continued)

1 July - 30 September 2025	Banking	Financial Services	Energy	Material Tecnologies	Digital	Other	Total
Combined revenue	206.817.663	16.378.979	91.692.557	36.784.132	989.885	40.840.593	393.503.809
Combined gross profit	44.232.575	1.429.789	16.510.743	6.742.777	169.099	7.721.897	76.806.880
Operating expenses Other operating	(31.534.830)	(3.984.734)	(6.138.861)	(3.724.052)	(249.504)	(7.646.760)	(53.278.741)
income/(expenses) (net)	664.187	4.267.446	(98.101)	93.996	(8.303)	(3.761)	4.915.464
Exchange gains/(losses) and credit finance
income/(charges) from operating activities (net)	-	199.518	1.007.191	277.360	26.721	(1.850.341)	(339.551)
Group share on profit/loss of joint ventures	-	-	(38.477)	-	-	-	(38.477)
Combined operating profit	13.361.932	1.912.019	11.242.495	3.390.081	(61.987)	(1.778.965)	28.065.575
Gains/(losses) from
investment activities (net)	1.441.400	1.115.234	(1.436)	13.869	4.513	781.256	3.354.836
Financial income/expenses (net)	-	(117.118)	(8.872.798)	(2.141.393)	(79.371)	(3.437.911)	(14.648.591)
Monetary gain/(loss)	(12.367.678)	(1.009.547)	3.152.602	1.363.647	45.671	1.528.073	(7.287.232)
Combined profit/(loss) before tax	2.435.654	1.900.588	5.520.863	2.626.204	(91.174)	(2.907.547)	9.484.588
Tax income/(expense) (net)	(3.851.422)	(976.324)	(1.905.874)	(622.437)	53.250	536.670	(6.766.137)
Profit after tax from discontinued operations	-	-	-	(41)	-	-	(41)
Combined net profit/(loss) for the period	(1.415.768)	924.264	3.614.989	2.003.726	(37.924)	(2.370.877)	2.718.410
Net profit/(loss) for the period (*)	(573.734)	362.999	1.623.585	1.014.824	(32.947)	(1.715.924)	678.803
		Financial		Material
1 July - 30 September 2024	Banking	Services	Energy	Tecnologies	Digital	Other	Total
Combined revenue	210.547.876	19.528.386	96.578.320	34.594.492	1.138.633	43.061.606	405.449.313
Combined gross profit	37.279.648	286.766	16.463.418	6.837.733	230.448	7.668.434	68.766.447
Operating expenses	(31.535.056)	(2.946.530)	(6.420.643)	(3.522.871)	(397.772)	(7.677.458)	(52.500.330)
Other operating income/(expenses) (net)	729.141	4.026.360	739.940	568.558	34.059	254.068	6.352.126
Exchange gains/(losses) and credit finance
income/(charges) from operating activities (net)	-	131.160	3.687.782	99.727	15.254	(1.901.757)	2.032.166
Combined operating profit	6.473.733	1.497.756	14.470.497	3.983.147	(118.011)	(1.656.713)	24.650.409
Gains/(losses) from investment activities (net)	29.922	644.897	(22.934)	121.959	(120.713)	1.107.437	1.760.568
Financial income/expenses (net)	-	(68.774)	(8.272.241)	(2.480.519)	(18.759)	(2.672.724)	(13.513.017)
Monetary gain/(loss)	(12.038.541)	(1.961.854)	2.269.739	908.123	15.994	1.719.181	(9.087.358)
Combined profit/(loss) before tax	(5.534.886)	112.025	8.445.061	2.532.710	(241.489)	(1.502.819)	3.810.602
Tax income/(expense) (net)	(3.732.544)	(147.746)	(7.853.645)	(847.230)	35.952	(107.208)	(12.652.421)
Profit after tax from discontinued operations	-	-	-	(276)	-	-	(276)
Combined net profit/(loss) for the period	(9.267.430)	(35.721)	591.416	1.685.204	(205.537)	(1.610.027)	(8.842.095)
Net profit/(loss) for the period (*)	(3.776.478)	10.129	455.910	687.762	(181.863)	(949.740)	(3.754.280)

NOTE 4 - SEGMENT REPORTING (Continued)

a) Revenue	1 January -	1 January -	1 July-	1 July-
	30 September 2025 30 September 2024 30 September 2025 30 September 2024
Banking	633.576.429	605.725.839	206.817.663	210.547.876
Financial Services	49.200.402	55.030.407	16.378.979	19.528.386
Energy	247.488.817	244.725.917	91.692.557	96.578.320
Material Tecnologies	108.455.531	111.815.430	36.784.132	34.594.492
Digital	3.815.455	2.828.186	989.885	1.138.633
Other	127.539.217	137.242.569	40.840.593	43.061.606
Combined	1.170.075.851	1.157.368.348	393.503.809	405.449.313
Less: Joint Ventures	(293.242.359)	(297.113.025)	(108.404.890)	(113.703.150)
Less: Consolidation eliminations and adjustments	(29.996.887)	(26.446.202)	(7.212.327)	(4.661.623)
Consolidated	846.836.605	833.809.121	277.886.592	287.084.540
b) Operating profit	1 January -	1 January -	1 July-	1 July-
	30 September 2025 30 September 2024 30 September 2025 30 September 2024
Banking	48.595.671	55.252.557	13.361.932	6.473.733
Financial Services	4.826.070	2.080.776	1.912.019	1.497.756
Energy	35.435.727	31.862.592	11.242.495	14.470.497
Material Tecnologies	6.664.958	10.139.414	3.390.081	3.983.147
Digital	(246.888)	(650.330)	(61.987)	(118.011)
Other	357.714	3.425.897	(1.778.965)	(1.656.713)
Combined	95.633.252	102.110.906	28.065.575	24.650.409
Less: Joint Ventures	(38.172.603)	(36.461.368)	(13.084.295)	(15.936.691)
Less: Consolidation eliminations and adjustments	(5.493.393)	(8.747.208)	751.790	818.143
Add: Net profit shares of Joint Ventures and associates	3.233.302	1.079.788	2.137.102	475.072
Consolidated	55.200.558	57.982.118	17.870.172	10.006.933
c) Depreciation and amortisation	1 January -	1 January -	1 July-	1 July-
	30 September 2025 30 September 2024 30 September 2025 30 September 2024
Banking	7.835.492	7.932.780	2.602.400	2.686.342
Financial Services	2.585.397	2.417.871	891.808	793.961
Energy	11.648.896	11.171.301	3.809.912	3.475.725
Material Tecnologies	7.384.800	6.298.395	2.443.869	2.054.756
Digital	411.412	255.444	139.365	94.760
Other	5.015.651	4.960.709	1.605.655	1.747.545
Combined	34.881.648	33.036.500	11.493.009	10.853.089
Less: Joint Ventures	(14.849.947)	(14.397.373)	(4.873.447)	(4.537.219)
Consolidated	20.031.701	18.639.127	6.619.562	6.315.870

NOTE 4 - SEGMENT REPORTING (Continued)

d) Profit before tax

1 January - 1 January - 1 July- 1 July-

30 September 2025 30 September 2024 30 September 2025 30 September 2024
Banking	8.783.045	(11.050.018)	2.435.654	(5.534.886)
Financial Services	4.464.366	(523.768)	1.900.588	112.025
Energy	15.398.799	13.900.456	5.520.863	8.445.061
Material Tecnologies	4.054.250	7.410.973	2.626.204	2.532.710
Digital	(480.480)	(736.052)	(91.174)	(241.489)
Other	(890.428)	4.663.895	(2.907.547)	(1.502.819)
Combined	31.329.552	13.665.486	9.484.588	3.810.602
Less: Joint Ventures	(15.756.882)	(17.490.698)	(6.534.799)	(9.042.348)
Less: Consolidation eliminations and adjustments	(8.826.152)	(12.072.278)	20.979	(123.968)
Add: Net profit shares of Joint Ventures and associates	3.233.302	1.079.788	2.137.102	475.072
Consolidated	9.979.820	(14.817.702)	5.107.870	(4.880.642)
e) Net profit for the period
	1 January -	1 January -	1 July-	1 July-
30 September 2025 30 September 2024 30 September 2025 30 September 2024
Banking	(2.928.265)	(25.373.041)	(1.415.768)	(9.267.430)
Financial Services	2.557.837	(733.860)	924.264	(35.721)
Energy	7.761.605	(1.172.101)	3.614.989	591.416
Material Tecnologies	2.202.666	5.376.103	2.003.726	1.685.204
Digital	(407.490)	(693.930)	(37.924)	(205.537)
Other	459.855	4.520.619	(2.370.877)	(1.610.027)
Combined	9.646.208	(18.076.210)	2.718.410	(8.842.095)
Less: Joint Ventures	(6.588.216)	(1.580.355)	(4.544.696)	(787.960)
Add: Net profit shares of Joint Ventures and associates	3.233.302	1.079.788	2.137.102	475.075
Less: Consolidation eliminations and adjustments	(8.826.152)	(12.072.278)	20.979	(123.968)
Less: Non-controlling interests	1.746.115	15.815.470	347.008	5.524.668
Consolidated (attributable to the equity holders of the parent)	(788.743)	(14.833.585)	678.803	(3.754.280)
f) Capital expenditures
	1 January -	1 January -	1 July-	1 July-
30 September 2025 30 September 2024 30 September 2025 30 September 2024
Banking	8.139.224	9.053.549	2.875.032	2.878.489
Financial Services	1.916.674	1.108.991	591.414	170.580
Energy	44.294.508	39.461.534	15.429.753	11.461.071
Material Tecnologies	10.076.777	8.519.766	1.857.941	2.500.262
Digital	231.904	175.467	132.623	13.361
Other	2.185.536	1.842.506	672.013	641.755
Combined	66.844.623	60.161.813	21.558.776	17.665.518
Less: Joint Ventures	(45.633.418)	(35.941.005)	(15.289.497)	(8.521.555)
Consolidated	21.211.205	24.220.808	6.269.279	9.143.963

NOTE 4 - SEGMENT REPORTING (Continued)

g) Total assets

30 September 2025 31 December 2024

Banking	3.248.661.345	3.337.288.961
Financial Services	143.334.876	142.938.769
Energy	509.130.728	476.128.204
Material Tecnologies	232.677.041	242.942.422
Digital	6.461.891	7.550.684
Other	420.928.689	421.636.574
Combined	4.561.194.570	4.628.485.614
Less: Joint Ventures	(556.645.435)	(532.236.873)
Less: Consolidation eliminations and adjustments	(386.002.399)	(379.601.823)
Add: Net profit shares of Joint Ventures and associates	135.963.125	138.668.565
Consolidated	3.754.509.861	3.855.315.483

‌NOTE 5 - CASH AND CASH EQUIVALENTS

The detail of cash and cash equivalents at 30 September 2025 and 31 December 2024 are as follows:

30 September 2025 Financial Non-financial			Total	31 December 2024 Financial Non-financial		Total
Cash	27.541.043	171.068	27.712.111	28.481.928	181.956	28.663.884
Bank Time deposit	34.028.064	12.627.155	46.655.219	22.847.769	15.273.270	38.121.039
Demand deposit	31.478.573	5.627.101	37.105.674	41.142.432	7.295.404	48.437.836
Receivables from reserve repo	14.353.740	-	14.353.740	1.713.464	-	1.713.464
Other cash and cash equivalents (*)	-	13.450.385	13.450.385	-	23.267.903	23.267.903
Total	107.401.420	31.875.709	139.277.129	94.185.593	46.018.533	140.204.126

(*) Other cash and cash equivalents include an amount of TRY 10.795.100 consisting of free liquid funds (31 December 2024: TRY 19.515.365)

Effective interest rates of USD, EUR and TRY denominated time deposits are 4,41% (31 December 2024: 5,06%), 1,98% (31 December 2024: 2,86%) and 36,35% (31 December 2024: 46,05%) respectively.

The maturity analysis as of 30 September 2025 and 31 December 2024 are as follows:

	30 September 2025	31 December 2024
Demand deposit	78.268.170	100.369.623
Up to 3 months	61.008.959	39.834.503
Total	139.277.129	140.204.126

As of 30 September 2025, total amount of the restriction on the cash and cash equivalents, payment accounts related to floating interest rate bond issue, time and demand deposits in the banks is TRY 9.568.701 (31 December 2024: TRY 15.629.076).

‌NOTE 6 - BALANCES WITH THE CENTRAL BANK OF THE REPUBLIC TÜRKİYE

The detail of balances with the Central Bank of the Republic Türkiye at 30 September 2025 and 31 December 2024 are as follows:

	30 September 2025	31 December 2024
Required Reserves	428.131.682	544.163.837
Free Deposits	4.200	3.871
Total	428.135.882	544.167.708
‌NOTE 7 - FINANCIAL ASSETS
a) Financial assets at fair value through profit and loss

The detail of financial assets at fair value through profit and loss is as follows:

30 September 2025 31 December 2024

	Banking	Other Companies	Total	Banking	Other Companies	Total
Share certificates	4.684.001	-	4.684.001	8.006.809	-	8.006.809
Government bonds	13.184.632	227.181	13.411.813	2.794.736	248.600	3.043.336
Eurobonds	2.275.090	-	2.275.090	1.673.607	-	1.673.607
Investment funds	19.444.717	11.825.717	31.270.434	19.513.617	10.238.551	29.752.168
Other	3.794.274	-	3.794.274	4.683.998	5.088	4.689.086
Total	43.382.714	12.052.898	55.435.612	36.672.767	10.492.239	47.165.006

Effective interest rates of TRY are as follow:

30 September 2025 31 December 2024

TRY %35,00 39,84%

The Group does not have any financial assets measured at fair value through profit or loss given as collateral due to its activities in the finance sector (31 December 2024:None).

b) Financial assets measured at fair value through other comprehensive income

30 September 2025 31 December 2024

	Banking	Other Companies	Total		Banking	Other Companies	Total
Debt securities - Government bonds	242.715.723	378.874	243.094.597		236.541.842	308.372	236.850.214
- Eurobonds	155.279.620	11.772.794	167.052.414		145.840.925	11.391.400	157.232.325
- Investment funds	2.227.204	286.939	2.514.143		2.375.189	212.206	2.587.395
- Other bonds denominated	105.317.038	3.995.252	109.312.290		97.062.625	3.503.161	100.565.786
Sub-total	505.539.585	16.433.859	521.973.444		481.820.581	15.415.139	497.235.720
Equity securities
- Unlisted	293.333	32.542	325.875		195.826	21.654	217.480
Financial assets at fair
value through other
comprehensive income	505.832.918	16.466.401 522.299.319		482.016.407		15.436.793	497.453.200

NOTE 7 - FINANCIAL ASSETS (Continued)

Financial assets measured at fair value through other comprehensive income (Continued) Effective interest rates of USD, EUR, JPY and TRY denominated debt securities are 6,18% (31 December 2024: 5,84%), 3,43% (31 December 2024: 3,24%), 3,09% (31 December 2024: 3,09%) and 35,39% (31
December 2024: 38,27%), respectively.
The Group's financial assets measured through other comprehensive income subject to funds provided from repo are TRY 258.968.848 (31 December 2024: TRY 308.381.686). Financial assets through other comprehensive income that are given as collateral because of the Group's financing activities are amounting to TRY 16.111.443 (31 December 2024: TRY 29.987.844).
There are bonds index-linked to consumer prices ("CPI") in the securities portfolio of Akbank for which the fair value difference is reflected to other comprehensive income and which are measured by amortized cost. These securities are valued and recognised using the effective interest method and are based on the index calculated using real coupon rates, the reference inflation index on the date of issuance and reel inflation rates. Reference indexes used to calculate the actual coupon payment amounts of the securities are created based on CPIs from two months prior.
Financial Assets measured at Amortised Cost:

The details of financial investments measured at their amortized cost are presented below:

30 September 2025 31 December 2024

Banking

Other

Companies

Total

Banking

Other

Companies

Total

Government bonds

Other debt securities

209.815.312

6.774.786

519.270

26.826.161

210.334.582

33.600.947

241.218.010

11.538.981

543.108

22.859.935

241.761.118

34.398.916

Total

216.590.098

27.345.431

243.935.529

252.756.991

23.403.043

276.160.034

The breakdown of financial assets measured at amortised cost is listed below:

30 September 2025 30 September 2024

Opening balance, 1 January	276.160.034	325.580.481
Additions	4.555.745	580.382
Foreign exchange differences in monetary assets	3.697.550	5.654.825
Valuation effect	21.694.696	46.906.407
Disposals through sales and redemptions	(7.122.927)	(9.077.256)
Monetary gain/(loss)	(55.034.979)	(84.175.649)
Reversal / (Allowance) for impairment (*)	(14.590)	(70.828)
Closing balance	243.935.529	285.398.362

(*) Expected loss provision is included.

Effective interest rate of debt securities in USD and TRY are 5,39% and 26,18% (31 December 2024: Effective interest rate of debt securities in USD and TRY are 5,87% and 36,06%).

‌NOTE 8 - OTHER RECEIVABLES AND PAYABLES
Other short term receivables:	30 September 2025	31 December 2024
Receivables from credit card payments	439.960	870.830
Other receivables(*)	33.585.650	31.377.030
Total	34.025.610	32.247.860
Other long term receivables:	30 September 2025	31 December 2024
Deposits and guarantees given	256.501	269.703
Other receivables(*)	2.599.905	1.740.355
Total	2.856.406	2.010.058
(*) Other receivables mainly consist of the collaterals obtained by Akbank for derivative transactions
Other short term payables:	30 September 2025	31 December 2024
Payables related to credit card transactions	54.404.857	50.145.248
Taxes and funds payable	14.336.666	12.260.114
Export deposits and transfer orders	849.851	308.016
Payment orders to correspondent banks	392.380	313.160
Other(*)	42.464.458	41.479.530
Total	112.448.212	104.506.068
Other long term payables:	30 September 2025	31 December 2024
Other(*)	12.537.234	19.427.486
Total	12.537.234	19.427.486

(*) Other payables mainly consist of the collaterals obtained by Akbank for derivative transactions.

‌NOTE 9 - RECEIVABLES DUE TO FINANCE SECTOR OPERATIONS Banking and Financial Services

Loans and advances to customers	30 September 2025	31 December 2024
Consumer loans and credit cards receivables	752.673.256	727.238.793
Project finance loans	129.934.357	155.645.985
Other manufacturing industries	97.179.421	93.012.190
Financial institutions	67.609.972	81.034.748
Small and medium entreprises	67.181.055	60.175.296
Construction	50.265.688	78.610.098
Food and beverage, wholesale and retail	48.145.075	39.553.281
Mining	46.144.743	45.349.100
Automotive	43.719.366	35.303.100
Textile	42.132.625	42.124.153
Chemicals	19.382.861	19.737.474
Telecommunication	1.329.085	10.311.154
Other	375.700.519	331.820.167
Total loans and advances to customers	1.741.398.023	1.719.915.539
Leasing receivables	31.191.639	27.804.872
Provision for loan losses	(68.123.363)	(58.445.033)
Receivables from insurance activities	11.774.259	13.494.403
Net loans and advances to customers	1.716.240.558	1.702.769.781

The above table includes the bank's live and non-performing total loans, and the loan risk reserve is separated as a result of the bank assessment considering all credit risk.

Effective interest rates of loans and advances to customers in US Dollars, Euros and Turkish Lira are annually 7,27% (31 December 2024: 7,80%), 5,88% (31 December 2024: 6,41%) and 45,09% (31 December

2024: 47,52%) respectively.

NOTE 9 - RECEIVABLES FROM FINANCE SECTOR OPERATIONS (Continued)

As of 30 September 2025, the movement table of credit risk provision of banking industry segment by asset classes is as follows:

	Corporate	Consumer	Leasing receivables	Total
1 January 2025	24.344.325	33.765.459	335.249	58.445.033
Gross provisions	7.753.878	27.710.487	137.603	35.601.968
Collections	(1.426.189)	(5.441.874)	(139.255)	(7.007.318)
Written-off	(853.298)	(6.213.849)	-	(7.067.147)
Monetary gain/(loss)	(4.935.559)	(6.845.646)	(67.968)	(11.849.173)
30 September 2025	24.883.157	42.974.577	265.629	68.123.363

As of 30 September 2024, the movement table of credit risk provision of banking industry segment by asset classes is as follows:

	Corporate	Consumer	Leasing receivables	Total
1 January 2024	33.313.054	25.485.561	566.440	59.365.055
Gross provisions	4.849.640	15.903.620	209.382	20.962.642
Collections	(3.789.684)	(3.499.115)	(58.284)	(7.347.083)
Written-off	(541.230)	(4.450.079)	(233.767)	(5.225.076)
Monetary gain/(loss)	(8.793.003)	(6.726.931)	(149.513)	(15.669.447)
30 September 2024	25.038.777	26.713.056	334.258	52.086.091

The maturity analysis of loans and advances to customers as of 30 September 2025 and 31 December 2024 is presented below:

	30 September 2025	31 December 2024
Up to 3 months	816.653.633	790.658.625
3 to 12 months	374.144.316	410.449.779
Current	1.190.797.949	1.201.108.404
1 to 5 years	371.683.937	341.479.852
Over 5 years	110.792.774	118.882.250
Non-current	482.476.711	460.362.102
Total	1.673.274.660	1.661.470.506

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