Our subsidiary Gübretaş Maden Yatırımları A.Ş. ("Maden A.Ş.") operates in mining and within this framework, a significant portion of its operating income/expenses are based on US Dollars ("USD").

Since the functional currency of Maden A.Ş. is USD in accordance with the Turkish Accounting Standard on "The Effects of Changes in Foreign Exchange Rates"; in accordance with the decision taken by the Board of Directors of Maden A.Ş., the functional currency used in the preparation of the financial statements presented in accordance with Turkish Financial Reporting Standards has been determined as USD as of 31/12/2023.

Although the functional currency of Maden A.Ş. is USD, the functional currency will continue to be Turkish Lira ("TL") in the presentation of the consolidated financial statements of Gübre Fabrikaları T.A.Ş.

Respectfully announced to the public.

*This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.