R&D and Innovation in Energy Efficient Products

May 2020 71% 77% 98% 47% Dividend Policy 58% 67% 56% 49% Average 51% 45% 32% 29% il….tit. th 22% 21% 0% 0% 2005 2006 2007 2008* 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 * ** Arçelik conducts a dividend policy within the framework of the provisions of the Turkish Commercial Code, Capital Markets Legislation, Tax Regulation, other relevant legislation and the provisions of the Articles of Association governing the distribution of profits. A balanced and consistent policy incorporating shareholders' and Company requirements in line with Corporate Governance Principles is followed. In principle, subject to be covered by the resources existing in legal records, by taking into consideration market expectations, long-term strategy, investment and financing policies, profitability and cash position, other legislation, and financial conditions, minimum 50% of the distributable profit for the period calculated within the framework of the Capital Markets Legislation is distributed in the form of cash or stock. The dividend distribution date is determined by General Assembly and targeted to be within one month after General Assembly Meeting date. General Assembly, or if authorized Board of Directors, could decide to pay dividend in installments within the framework of Capital Markets Legislation. According to Company's Articles of Association, Board of Directors can distribute advance dividend with the condition of being authorized and compliant with Capital Markets Legislation. * Bonus share distribution on 2008 income ** Board of Director's offer of TRY500mn dividend on February 20, 2020 has been rejected by the General Assembly due to COVID-19 pandemic Arçelik

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