KUZUGRUP GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş. İlişkili Taraf İşlemleri 22 Eylül 2025

At our Company's Board of Directors Meeting dated 22.09.2025, it was decided that:

To strengthen the Company's capital structure, a one-year loan of up to 350,000,000 TL will be obtained from Kuzu Toplu Konut İnşaat Anonim Şirketi, our controlling shareholder. This loan will be provided in installments as needed.

This loan transaction, which constitutes a related party transaction within the scope of Article 9 of the Corporate Governance Communiqué (II-17.1) ("Communiqué"), is anticipated to exceed the 5% rate specified in the article. Therefore, a valuation report must be obtained from an institution approved by the Capital Markets Board prior to the transaction to assess the methods for determining the arm's length interest rate for the loan and the transaction's status against market conditions. Therefore, the interest rate to be applied to the loan will be determined in accordance with the valuation report prepared by Tera Menkul Değerler A.Ş. ,dated 18.9.2025. The assumptions used in the valuation and the findings in the valuation report, which include the valuation results, are presented to the attention of our shareholders in summary below :

The weighted average interest rates applied to commercial loans granted by banks, as announced by the Central Bank of the Republic of Turkey (CBRT), were examined for the 91-day period between June 6, 2025, and September 5, 2025. Based on the interquartile range method, the lowest (minimum) loan rate was calculated as 49.05%, the lower quartile loan rate as 51.79%, the median loan rate as 53.94%, the upper quartile loan rate as 57.95%, and the highest (maximum) loan rate as 60.27%. According to the valuation carried out in this context, it is anticipated that the annual interest rate of the 1-year term loan of 350,000,000 TL, which Kuzugrup will obtain from Kuzu Toplu Konut İnşaat Anonim Şirketi, the controlling shareholder of our Company, will be between the lower quartile rate of 51.79% and the upper quartile rate of 57.95% of the interest rates applied to TRY denominated commercial loans by banks during the period of 06.06.2025 - 05.09.2025.