BIRLESIM_2022 ANNUAL REPORT

BİRLEŞİM MÜHENDİSLİK 2022 ANNUAL REPORT 23 The IPO represents a significant milestone in our company’s history. In 2022, we exceeded performance targets by booking TL 1.5 billion in turnover. This was a major success for us. Our IPO and robust operational proceeds gave us a healthy net cash position, enabling us to emerge even stronger from a very challenging period. In 2022, we increased our registered capital to TL 224 million through bonus share issues; our equity also continued to improve. JCR Eurasia has assigned our company an A+ (tr) long-term national credit rating with a Stable outlook. The 2021 IPO represents a significant milestone in our efforts to strengthen our financial structure, increase corporate resilience, and improve corporate governance compliance. In 2022, we established a dividend policy and paid our first dividend. We are committed to sharing the value we create with our stakeholders through regular dividend payments. Another significant step towards institutionalization was the establishment of an internal audit department that was accompanied by a six-month training program on its functions and operations. On the IT front, we added additional software modules to our ERP system and we are now tracking the progress, performance, and outcomes of all newly started construction projects. We remain hopeful about the future. We formulated our 2023 action plan expecting macroeconomic conditions similar to those of 2022. With our in- depth market knowledge, clear corporate vision, sound balance sheet, and proactive risk management, we will continue to create value for our company and its stakeholders. We will focus on strengthening our position in the contracting industry, especially by leveraging our expertise and competitive advantages in hospital and other purpose-built construction. We will closely monitor the Turkish tourism industry in 2023, which has faced tough challenges in recent years due to the pandemic and the Ukraine-Russia war. We will strive to identify and benefit from potential opportunities that may arise. The logistics sector, which grew in importance during the pandemic, is increasingly trending towards large warehouses equipped with intelligent systems to meet rapidly growing demand. Our company has successfully completed the electromechanical works of two such projects and will leverage this knowledge and experience to win new contracts. Due to geopolitical risks and the lack of economic improvement in our target markets in 2022, we will not pursue growth in those markets for the time being. However our commercial presence in Russia and Azerbaijan will continue. With large-scale ground-mounted solar energy projects currently in high demand, Birleşim Mühendislik’s acquisition of a controlling stake in , Solar Santral Enerji A.Ş. gives it a leg up in winning and completing new contracts in this growing market. Birleşim Mühendislik is committed to sustainability through green transformation and digitalization. We will continue to raise the bar of our success by leveraging our strong engineering knowledge and state-of-the- art technology in the electromechanical works of purpose-built structures and the development and installation of renewable energy projects such as solar power plants. Our human-centric approach drives our enthusiastic and dedicated efforts to make life better and the future more sustainable for all of our stakeholders and society as a whole. We are grateful to our employees, suppliers, business partners, and employers for their continued confidence in us as we work together to build a better today and tomorrow. With our best regards, Mesut Altan Chair of the Board of Directors İdris Çakır Deputy Chair of the Board of Directors Mesut Altan Chair of the Board of Directors İdris Çakır Deputy Chair of the Board of Directors