BIRLESIM_MUHENDISLIK 2023 ANNUAL REPORT

BİRLEŞİM MÜHENDİSLİK 2023 ANNUAL REPORT 186 Birleşim Mühendislik Isitma Soğutma Havalandirma Sanayi Ticaret A.Ş. and its Subsidiaries (Amounts are expressed in terms of purchasing power of Turkish Lira (“TL”) as of December 31, 2023 unless otherwise stated.) Notes to the Consolidated Financial Statements For the Year Ended 31 December 2023 19. EQUITY The Group’s issued capital is divided into 224.000.000 shares, each worth 1 Turkish Lira (31 December 2022: 1 TL, 102.000.000 units). As of 31 December 2023 and 2022, the shareholding structure of the Group is as follows: 31 December 2023 31 December 2022 Shareholders Group Share Rate Share Amount Group Share Rate Share Amount Mesut Altan B 22,06% 49.411.764 B 22,06% 49.411.764 İdris Çakır B 22,06% 49.411.764 B 22,06% 49.411.764 Mesut Altan A 3,92% 8.784.314 A 3,92% 8.784.314 İdris Çakır A 3,92% 8.784.314 A 3,92% 8.784.314 Public Share B 48,04% 107.607.844 B 48,04% 107.607.844 Capital Receipts 224.000.000 224.000.000 Inflation Adjustments on Capital 437.080.612 437.080.612 Total Equity 661.080.612 661.080.612 With the general assembly decision dated 6 June 2022, the capital shares were divided into A and B groups. With the amendments to the articles of association approved at the relevant general assembly, two of the members of the Board of Directors are elected from among Group A shares. In addition, the Articles of Association of the Company has been amended so that Group A shares can only be sold to Group A shareholders. The company distributed a gross dividend of 35.676.887 TL during the year 2023. (31 December 2022: TL8.524.614) Premium on Shares It consists of issuance premiums obtained from the company’s public offering of 39,000,000 nominal-valued shares on August 20, 2022. The free capital increase of 332.429.302 TL, carried out in accordance with the Board of Directors’ decision dated September 8, 2022, was covered by premiums related to the shares. Restricted Reserves Legal reserves consist of first and second legal reserves, which are allocated according to the Turkish Commercial Code. First order legal reserves are set aside at the rate of 5% per annum of prior period commercial profits until all reserves reach 20% of the historical (not indexed for inflation) paid-in capital. Second order legal reserves are set aside at the rate of 10% per annum over all cash dividend distributions after the first order legal reserves and dividends. The details of the Group’s reserves restricted from profit prepared in accordance with TAS 29 and the tax procedure law are as follows: Inflation-adjusted amounts included in the financial statements prepared in accordance with the Tax Procedure Law Inflation-adjusted amounts included in the financial statements prepared in accordance with TAS/TFRS Financial Statements The difference observed in the losses (profits) of the previous year 66.282.620 23.249.466 (43.033.154) Gain/(Loss) Arising from Several Pay Provision With the change in TAS-19 “Employee Benefits” standard, actuarial loss and gains, which are taken into account in the calculation of the severance pay provision, do not allow to be recognized in the income statement. Losses and gains resulting from changes in actuarial assumptions are accounted for under equity.