Haci Ömer Sabanci : Convenience Translation Into English Of Condensed Consolidated Financial Statements For The Interim Period 1 January - 30 September 2023

HACI ÖMER SABANCI HOLDİNG A.Ş.

CONVENIENCE TRANSLATION INTO ENGLISH OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD 1 JANUARY - 30 SEPTEMBER 2023

(ORIGINALLY ISSUED IN TURKISH)

CONTENTS	PAGE
CONDENSED CONSOLIDATED BALANCE SHEETS	1-2
CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS	3
CONDENSED CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE
INCOME	......................................................................................................................................	4
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY	5
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW	6
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	7-60
NOTE 1	ORGANISATION AND OPERATIONS OF THE GROUP	7-8
NOTE 2	BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS	9-15
NOTE 3	BUSINESS COMBINATIONS	15-16
NOTE 4	SEGMENT REPORTING	17-21
NOTE 5	CASH AND CASH EQUIVALENTS	22
NOTE 6	BALANCES WITH THE CENTRAL BANK OF THE REPUBLIC TURKEY	22
NOTE 7	FINANCIAL ASSETS	23-25
NOTE 8	OTHER RECEIVABLES AND PAYABLES	26
NOTE 9	RECEIVABLES FROM FINANCE SECTOR OPERATIONS	27-28
NOTE 10	DERIVATIVES	29
NOTE 11	PREPAID EXPENSES AND DEFERRED INCOME	30
NOTE 12	INVESTMENTS ACCOUNTED THROUGH EQUITY METHOD	30-31
NOTE 13 PROPERTY, PLANT AND EQUIPMENTS	32-33
NOTE 14	INTANGIBLE ASSETS	34-35
NOTE 15	RIGHT OF USE ASSETS	36
NOTE 16	GOODWILL	37
NOTE 17	FINANCIAL LIABILITIES	37-38
NOTE 18	LIABILITIES FROM LEASING TRANSACTIONS	39
NOTE 19	PAYABLES FROM FINANCE SECTOR OPERATIONS	40
NOTE 20	TAX ASSETS AND LIABILITIES	41-43
NOTE 21	PROVISIONS, CONTINGENT ASSETS AND LIABILITIES	44
NOTE 22	OTHER ASSETS AND LIABILITIES	44
NOTE 23	ASSETS AND LIABILITIES CLASSIFIED AS HELD FOR SALE AND
	DISCONTINUED OPERATION	45
NOTE 24	EQUITY	45-46
NOTE 25	REVENUE AND COST OF SALES	47
NOTE 26	OTHER INCOME AND EXPENSES FROM OPERATING ACTIVITIES	48
NOTE 27	INCOME AND EXPENSES FROM INVESTING ACTIVITIES	48-49
NOTE 28	FINANCIAL INCOME/EXPENSES	49
NOTE 29	RELATED PARTY DISCLOSURES	50
NOTE 30	COMMITMENTS	51-56
NOTE 31	NATURE AND LEVEL OF RISKS DERIVED FROM FINANCIAL INSTRUMENTS	57-59
NOTE 32	EVENTS AFTER THE REPORTING PERIOD	60

CONVENIENCE TRANSLATION INTO ENGLISH OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH

HACI ÖMER SABANCI HOLDİNG A.Ş.

CONDENSED CONSOLIDATED BALANCE SHEET AT 30 SEPTEMBER 2023 AND 31 DECEMBER 2022

(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)

		Unaudited	Audited
		Current	Prior
		Period	Period
	Note	30 September	31 December
	References	2023	2022
ASSETS
Current Assets		1.189.654.522	720.809.364
Cash and Cash Equivalents	5	93.890.732	64.878.197
Balances with the Central Bank of the Republic Turkey	6	219.760.603	114.589.752
Financial Assets	7	99.219.824	65.154.120
- Fair Value Through Profit or Loss		17.446.859	13.779.757
- Fair Value Through Other Comprehensive Income		56.157.350	28.987.545
- Measured at Amortised Cost		19.994.881	20.654.473
- Time Deposits		5.620.734	1.732.345
Trade Receivables		8.618.929	6.606.610
Receivables from Finance Sector Operations	9	670.622.710	410.059.537
Other Receivables	8	19.146.870	7.702.134
Derivative Financial Instruments	10	20.438.206	10.160.764
Inventories		20.394.925	13.450.139
Prepaid Expenses	11	19.877.688	15.932.110
Deferred Commission Expenses		1.591.283	1.019.808
Current Tax Assets	20	135.160	600.741
Other Current Assets	22	15.518.838	10.064.237
Assets Classified As Held for Sale	23	438.754	591.215
Non-current Assets		682.554.828	525.120.563
Financial Assets	7	352.211.515	232.511.741
- Fair Value Through Other Comprehensive Income		207.717.779	147.083.960
- Measured at Amortised Cost		144.189.837	85.427.781
- Time Deposits		303.899	-
Trade Receivables		2.069	1.418
Receivables From Finance Sector Operations	9	192.457.111	196.986.616
Other Receivables		2.263.854	1.593.482
Derivative Financial Instruments	10	49.283.631	38.719.765
Investments Accounted Through Equity Method	12	27.601.629	17.611.848
Investment Property		863.091	489.142
Property, Plant and Equipment	13	29.173.800	16.377.089
Asset Right on Use	15	4.586.724	3.132.198
Intangible Assets		18.741.529	14.564.657
- Goodwill	16	5.753.074	4.078.784
- Other Non Current Assets	14	12.988.455	10.485.873
Prepaid Expenses	11	156.505	463.916
Deferred Commission Expenses		1.569.968	972.698
Deferred Tax Assets	20	2.107.566	1.456.256
Other Non Current Assets	22	1.535.836	239.737
Total Assets		1.872.209.350	1.245.929.927

These consolidated financial statements have been approved for issue by the Board of Directors on 8 November 2023. General Assembly has the right to change these condensed consolidated financial statements.

The accompanying notes form an integral part of these condensed consolidated financial statements.

1

CONVENIENCE TRANSLATION INTO ENGLISH OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH

HACI ÖMER SABANCI HOLDİNG A.Ş.

CONDENSED CONSOLIDATED BALANCE SHEET AT 30 SEPTEMBER 2023 AND 31 DECEMBER 2022

(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)

		Unaudited	Audited
		Current	Prior
		Period	Period
	Note	30 September	31 December
	References	2023	2022
Short Term Liabilities		1.428.088.337	902.103.780
Short Term Borrowings	17	40.249.168	25.356.285
Short Term Portion of Long-Term Borrowings	17	49.814.263	37.578.916
Liabilities from Leasing Transactions	18	994.226	630.347
Trade Payables		22.680.249	15.486.832
Payables of Finance Sector Operations	19	1.214.173.624	749.663.848
Payables related to Employee Benefits		799.034	261.785
Other Payables	8	46.071.448	35.041.548
Derivative Financial Instruments		7.691.090	5.798.902
Government Incentives		6.966	-
Deferred Income	11	1.634.997	511.771
Current Tax Liabilities		6.770.763	10.263.913
Short Term Provisions		29.611.735	17.303.456
- Short Term Provisions for Employee		3.184.538	1.778.295
- Insurance Technical Provisions	21	24.528.841	14.539.144
- Other Short-Term Provisions	21	1.898.356	986.017
Other Short Term Liabilities	22	7.563.240	4.192.286
Liabilities Related to Asset Group Held for Sale	23	27.534	13.891
Long Term Liabilities		179.343.667	143.593.588
Long Term Borrowings	17	93.596.808	73.982.765
Liabilities from Leasing Transactions	18	4.188.418	2.897.906
Trade Payables		54.809	-
Payables of Finance Sector Operations	19	21.248.615	24.639.838
Other Payables	8	19.301.107	16.075.205
Derivative Financial Instruments	10	10.297.264	9.308.148
Government Incentives		31.668	28.737
Deferred Income	11	782.453	505.021
Long Term Provisions		21.132.178	13.012.271
- Long Term Provisions for Employee Benefits		3.475.387	2.973.784
- Insurance Technical Provisions	21	15.060.991	8.373.738
- Other Long-Term Provisions	21	2.595.800	1.664.749
Taxes and Funds Payable		1.826	10.829
Deferred Tax Liabilities	20	5.464.784	2.590.383
Other Long Term Liabilities	22	3.243.737	542.485
EQUITY		264.777.346	200.232.559
Equity Attributable to the Parent		139.294.243	100.832.151
Share Capital	24	2.040.404	2.040.404
Adjustment to Share Capital		3.426.761	3.426.761
Share Premium		22.237	22.237
Treasury shares (-)		(9.281)	(944.255)
Other Equity Reserves		37.163	30.912
Other Comprehensive Income or Expenses That
Will Not Be Reclassified to Profit or Loss
- Actuarial Gain/Loss		(1.442.727)	(1.220.212)
Other Comprehensive Income or Expenses
Will Be Reclassified to Profit or Loss
- Currency Translation Reserve	24	21.199.742	10.995.205
- Gains/Losses on Hedge	24	(4.781.908)	(2.992.643)
- Revaluation Reserve	24	(1.651.909)	3.172.128
Restricted Reserves		2.715.994	2.822.896
Retained Earnings		81.063.296	39.650.339
Net Income for the Period		36.674.471	43.828.379
Non-controlling Interests		125.483.103	99.400.408
TOTAL EQUITY AND LIABILITIES		1.872.209.350	1.245.929.927

The accompanying notes form an integral part of these condensed consolidated financial statements.

2

CONVENIENCE TRANSLATION INTO ENGLISH OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH

HACI ÖMER SABANCI HOLDİNG A.Ş.

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE INTERIM PERIOD ENDED 30 SEPTEMBER 2023 AND 2022

(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)

		Unaudited	Unaudited	Unaudited	Unaudited
		Current	Prior	Current	Prior
		Period	Period	Period	Period
		1 January-	1 January-	1 July-	1 July-
	Note	30 September	30 September	30 September 30 September
	References	2023	2022	2023	2022
CONTINUING OPERATIONS
Sales (net)	25	81.583.840	46.517.068	34.638.851	18.466.676
Cost of Sales (-)	25	(64.952.391)	(37.051.857)	(27.197.303)	(14.817.575)
Gross Profit From Non-Financial Operations		16.631.449	9.465.211	7.441.548	3.649.101
Interest, Premium, Commission and Other Income	25	212.372.027	107.908.844	95.300.406	46.248.567
Interest, Premium, Commission and Other Expense (-)	25	(111.054.239)	(43.590.790)	(52.134.742)	(18.507.767)
Gross Profit From Financial Operations		101.317.788	64.318.054	43.165.664	27.740.800
GROSS PROFIT		117.949.237	73.783.265	50.607.212	31.389.901
General Administrative Expenses (-)		(39.054.679)	(16.606.193)	(15.180.473)	(6.719.910)
Marketing, Selling and Distribution Expenses (-)		(7.856.289)	(4.102.523)	(3.147.869)	(1.641.951)
Research and Development Expenses (-)		(167.217)	(67.557)	(72.938)	(28.678)
Other operating Income	26	13.931.095	8.142.110	3.773.752	3.216.843
Other operating Expenses	26	(5.678.309)	(3.884.556)	(1.800.012)	(1.521.202)
Share of profit/loss of investments				-	-
accounted for using the equity method	12	12.282.618	4.486.557	7.782.446	1.994.461
OPERATING PROFIT		91.406.456	61.751.103	41.962.118	26.689.464
Gains From Investment Activities	27	1.085.824	5.531.897	405.903	1.993.743
Losses From Investment Activities (-)	27	(13.571)	(3.171)	(3.129)	(87)
OPERATING PROFIT BEFORE
FINANCIAL INCOME / (EXPENSES)		92.478.709	67.279.829	42.364.892	28.683.120
Financial Income	28	841.246	977.579	297.188	497.534
Financial Expenses (-)	28	(3.999.152)	(1.950.396)	(1.632.383)	(876.473)
NET INCOME BEFORE TAX
FROM CONTINUING OPERATIONS		89.320.803	66.307.012	41.029.697	28.304.181
Tax Income / (Expense) from Continuing Operations
Current Tax Expense	20	(10.196.698)	(13.791.935)	(7.667.909)	(8.730.707)
Deferred Tax Income/(Expense)	20	(8.460.716)	(111.698)	(2.772.393)	2.755.306
PROFIT FOR THE PERIOD
FROM CONTINUING OPERATIONS		70.663.389	52.403.379	30.589.395	22.328.780
DISCONTINUED OPERATIONS
Income After Tax from Discontinued Operations		(2.595)	(2.461)	(2.497)	(67)
PROFIT FOR THE PERIOD		70.660.794	52.400.918	30.586.898	22.328.713
ALLOCATION OF PROFIT
- Non-controlling Interests		33.986.323	25.185.562	13.312.416	11.455.470
- Owner of the Company		36.674.471	27.215.356	17.274.482	10.873.243
Earnings per share
- hundreds of ordinary shares (TRY)		17,97	13,34	8,47	5,33
Earnings per share from continuing operations
- hundreds of ordinary shares (TRY)		17,98	13,34	8,47	5,33

The accompanying notes form an integral part of these condensed consolidated financial statements.

3

CONVENIENCE TRANSLATION INTO ENGLISH OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH

HACI ÖMER SABANCI HOLDİNG A.Ş.

CONDENSED CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME FOR THE INTERIM PERIOD ENDED 30 SEPTEMBER 2023 AND 2022

(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)

	Unaudited	Unaudited	Unaudited	Unaudited
	Current	Prior	Current	Prior
	Period	Period	Period	Period
	1 January -	1 January -	1 July-	1 July-
	30 September	30 September	30 September	30 September
	2023	2022	2023	2022
INCOME FOR THE PERIOD	70.660.794	52.400.918	30.586.898	22.328.713
Other Comprehensive Income / (Loss):
Items that will not be Reclassified
To Profit or Loss	(394.539)	(313.393)	113.163	(32.553)
Actuarial (losses) / gains	(384.588)	(295.812)	99.816	(38.408)
Other comprehensive income/(expense)
shares of investments accounted
by equity method, after tax	(9.951)	(17.581)	13.347	5.855
Items that will be Reclassified
To Profit or Loss	1.684.563	12.189.681	1.489.898	3.471.890
Fair value gains/(losses) from
financial assets through other
comprehensive income, after tax	(11.786.901)	5.201.603	(1.720.663)	2.067.879
Currency translation differences	17.969.758	6.037.312	2.960.298	2.043.454
Cash flow hedges, after tax	407.467	2.943.619	318.769	(29.389)
Loss from the derivative
financial assets related to the hedging
of net investment in a foreign operation, after tax	(4.981.808)	(1.922.015)	17.071	(484.408)
Other comprehensive income/(expense) shares of
investments accounted by equity method, after tax	76.047	(70.838)	(85.577)	(125.646)
OTHER COMPREHENSIVE	1.290.024	11.876.288	1.603.061	3.439.337
INCOME (AFTER TAX)
TOTAL COMPREHENSIVE INCOME	71.950.818	64.277.206	32.189.959	25.768.050
ALLOCATION OF TOTAL
COMPREHENSIVE INCOME
- Non-controlling Interests	31.907.627	31.587.456	13.576.539	13.309.834
- Equity Holders of the Parent	40.043.191	32.689.750	18.613.420	12.458.216

The accompanying notes form an integral part of these condensed consolidated financial statement.

4

HACI ÖMER SABANCI HOLDİNG A.Ş.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE PERIOD ENDED 30 SEPTEMBER 2023 AND 2022

(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)

						Accumulated Other Comprehensive Income or Loss That Will
						Not be reclassified	Be reclassified
						Profit or Loss		Profit or Loss
		Adjustment			Other	Acturial	Currency						Equity	Non-
		to share	Treasury	Share	equity	gains /	translation	Hedge	Revaluation	Restricted	Retained	Net income	attributable	controlling
	Share capital	capital	shares (-)	premium	shares	losses	reserve	reserve	funds	reserve	earnings for the period	to the parent	interest	Total
Balance at 1 January 2022	2.040.404	3.426.761	(298.646)	22.237	-	(238.606)	6.690.649	(2.450.148)	(719.033)	1.532.498	29.378.702	12.032.098	51.416.916	52.187.266	103.604.182
Transfers	-	-	-	-	-	-	-	-	-	343.960	11.688.138	(12.032.098)	-	-	-
Dividends	-	-	-	-	-	-	-	-	-	-	(1.558.437)	-	(1.558.437)	(967.994)	(2.526.431)
Capital increase	-	-	-	-	-	-	-	-	-	-	-	-	-	360.000	360.000
Increase / (decrease) through share-based transactions	-	-	-	-	25.461	-	-	-	-	-	-	-	25.461	24.463	49.924
Subsidiary share sale	-	-	-	-	-	-	25.245	-	-	-	-	2.643.361	2.668.606	-	2.668.606
Subsidiary acquisition or disposal	-	-	-	-	-	-	-	-	-	-	-	-	-	62.255	62.255
Other changes	-	-	-	-	-	-	-	-	-	-	87.181	-	87.181	-	87.181
Increase / (decrease) due to share buy back transactions	-	-	(1.128.013)	-	-	-	-	-	-	1.128.013	(1.128.013)	-	(1.128.013)	-	(1.128.013)
Total comprehensive income	-	-	-	-	-	(155.847)	3.271.207	352.718	1.981.071	-	-	24.571.995	30.021.144	31.587.456	61.608.600
Balances at 30 September 2022	2.040.404	3.426.761	(1.426.659)	22.237	25.461	(394.453)	9.987.101	(2.097.430)	1.262.038	3.004.471	38.467.571	27.215.356	81.532.858	83.253.446	164.786.304
Balance at 1 January 2023	2.040.404	3.426.761	(944.255)	22.237	30.912	(1.220.212)	10.995.205	(2.992.643)	3.172.128	2.822.896	39.650.339	43.828.379	100.832.151	99.400.408	200.232.559
Transfers	-	-	-	-	-	-	-	-	-	828.072	43.000.307	(43.828.379)	-	-	-
Dividends (*)	-	-	-	-	-	-	-	-	-	-	(3.482.106)	-	(3.482.106)	(5.808.091)	(9.290.197)
Increase / (decrease) through share-based transactions	-	-	-	-	6.251	-	-	-	-	-	-	-	6.251	-	6.251
Transaction with non-controlling interests	-	-	-	-	-	-	-	-	-	-	(8.459)	-	(8.459)	(2.919)	(11.378)
Increase / (decrease) due to share buy back transactions (**)	-	-	934.974	-	-	-	-	-	-	(934.974)	1.903.215	-	1.903.215	(13.922)	1.889.293
Total comprehensive income	-	-	-	-	-	(222.515)	10.204.537	(1.789.265)	(4.824.037)	-	-	36.674.471	40.043.191	31.907.627	71.950.818
Balances at 30 September 2023	2.040.404	3.426.761	(9.281)	22.237	37.163	(1.442.727)	21.199.742	(4.781.908)	(1.651.909)	2.715.994	81.063.296	36.674.471	139.294.243	125.483.103	264.777.346

(*) Dividends per share paid by the Holding with a TRY1 nominal value is TRY1,75 (2022: TRY0,75).

1. All of the shares with a nominal value of TL 60,577,802, representing 2.9689% of the Company's capital, which were repurchased from the stock exchange and owned by the Company, were sold through the corporate block sale method on Borsa Istanbul on September 19, 2023 at a price of TL 52.46 per share sold to investors. The gain realized from the transaction amounted to TL 1.290.808.

The accompanying notes form an integral part of these condensed consolidated financial statements.

5

CONVENIENCE TRANSLATION INTO ENGLISH OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH

HACI ÖMER SABANCI HOLDİNG A.Ş.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW FOR THE INTERIM PERIOD ENDED 30 SEPTEMBER 2023 AND 2022

(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)

		Unaudited	Unaudited
		Current	Prior
		Period	Period
	Note	1 January -	1 January -
	References	30 September	30 September
Net income from continuning operations		70.663.389	52.403.379
Net income from discontinued operations		(2.595)	(2.461)
Adjustments to reconcile income before taxation to net cash provided
by operation activities:
Tax expense/income		18.657.414	13.903.633
Depreciation and amortization expenses	4	3.942.762	2.413.828
Provision for loan losses		10.356.878	17.664.571
Changes in the fair value of derivative instruments		(6.318.276)	516.864
Interest income/expense and foreign currency gains		(21.952.519)	(32.059.164)
Provision for employment termination benefits		632.308	261.242
Impairment charge on property, plant and equipment,intangible assets and investment property		145	7.132
Impairment an assets held for sale		50	124
Income from sale of property, plant and equipment,intangible assets and investment property		4.327	(1.832.924)
Income from associates and joint ventures	12	(12.282.618)	(4.486.557)
Provision for /(reversal of) inventory impairment		113.342	(12.258)
Provision for /(reversal of) doubtful receivables		(123.070)	(46.863)
Unrealized foreign currency translation differences		(2.140.154)	(7.027.520)
Adjustments for losses (gains) on disposal of subsidiaries		-	(2.766.445)
Adjustments for share-based payments		6.251	-
Net cash provided by operation activities before changes
in operating assets and liabilities
Changes in trade receivables		(1.889.896)	(2.193.784)
Changes in inventories		(7.058.128)	(6.115.554)
Changes in other receivables		(12.126.482)	(3.297.640)
Changes in prepaid expenses		(3.312.380)	(9.528.264)
Changes in derivative financial instruments		(16.744.580)	(10.234.351)
Changes in other assets		(17.172.042)	(5.627.296)
Changes in trade payables		7.248.226	5.557.009
Changes in other liabilities and other payables		44.708.083	36.150.269
Net cash provided in operating activities of assets classified as held for sale		166.104	430.009
Changes in assets and liabilities in finance segment:
Changes in financial investments		(6.178.172)	4.585.769
Changes in receivables from finance sector operations		(259.249.963)	(176.498.523)
Changes in payables from finance sector operations		445.042.387	198.595.888
Changes in Central Bank of the Republic of Turkey account		(105.170.851)	(45.660.562)
Income taxes paid		(13.224.267)	(12.507.853)
Employment termination benefits paid		(870.902)	(100.886)
Net cash provided from operating activities		115.724.771	12.540.736
Cash flow from investing activities;
Sale / (Proceed) of fair value through other comprehensive
income or amortized cost at financial asset		(124.593.163)	(53.803.263)
Capital expenditures	4	(12.389.101)	(4.119.078)
Proceeds from sales of property, plant, equipment and intangible assets	4	967.380	2.372.478
Proceeds from investment property		(150.051)	-
Cash inflows caused by share sales or capital decrease of		-	3.069.577
associates and/or joint ventures
Cash outflows related to purchases for obtaining control of subsidiaries		-	(1.248.763)
Dividends received		2.499.501	1.354.860
Other cash inflows/outflows		-	151.040
Net cash provided from / (used in) investing activities		(133.665.434)	(52.223.149)
Cash flow from financing activities:
Cash inflows from financial liabilities	17	57.357.350	38.989.320
Cash outflows from repayments of borrowings	17	(17.765.928)	(7.039.354)
Cash outflows from payments of lease liabilities	18	(1.253.237)	(749.051)
Cash inflow/(outflow) from sale shares		3.177.624	-
Cash inflow/(outflow) from repurchased shares		(942.561)	(1.128.013)
Interest received		69.700	12.770
Dividends paid		(9.290.197)	(2.526.431)
Capital Advance		-	360.000
Net cash provided from / (used in) financing activities		31.352.751	27.919.241
Effect of change in foreign currency rates on cash and cash equivalents		16.162.480	11.892.677
Net increase / (decrease) in cash and cash equivalents		29.574.568	129.505
Cash and cash equivalents in the beginning of the period (*)		54.073.134	51.775.624
Cash and cash equivalents at the end of the period		83.647.702	51.905.129

1. Cash and cash equivalents at the end of the period comprise interest accruals of TRY13.939 (31 December 2022: TRY9.928). At the beginning and at the end of the current period, restricted deposit is TRY10.805.063 and TRY10.229.091, respectively (31 December 2022: TRY17.642.259 and TRY10.805.063 respectively).

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CONVENIENCE TRANSLATION INTO ENGLISH OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH

HACI ÖMER SABANCI HOLDİNG A.Ş.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW FOR THE INTERIM PERIOD ENDED 30 SEPTEMBER 2023 AND 2022

(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)

The accompanying notes form an integral part of these condensed consolidated financial statements.

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CONVENIENCE TRANSLATION INTO ENGLISH OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH

HACI ÖMER SABANCI HOLDİNG A.Ş.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD ENDED 30 SEPTEMBER 2023

(Amounts expressed in thousands of Turkish Lira ("TRY") unless otherwise indicated. Currencies other than TRY are expressed in thousands unless otherwise indicated.)

NOTE 1 - ORGANISATION AND OPERATIONS OF THE GROUP

Hacı Ömer Sabancı Holding A.Ş. (the "Holding") was established in 1967 to coordinate and perform

liaison services regarding the activities of companies operating in various fields including mainly finance, manufacturing and trade. The Holding is registered in Turkey. The number of employees as of 30 September 2023 is 62.853 (31 December 2022: 67.375). Holding's registered address is as follows:

Sabancı Center, 4. Levent, İstanbul, Türkiye.

The Holding is registered with the Capital Markets Board ("CMB") and its shares have been quoted on Borsa Istanbul ("BIST") (previously known as the Istanbul Stock Exchange ("ISE")) since 1997. As of 30 September 2023, the principal shareholders and their respective shareholding rates in the Holding are as follows (Note 24):

	(%)
Sakıp Sabancı Holding A.Ş.	14,07
Serra Sabancı	7,22
Suzan Sabancı Dinçer	6,94
Çiğdem Sabancı Bilen	6,94
Other	64,83
	100

The Holding, its subsidiaries, associates and joint ventures are together referred as the "Group". The Holding is managed by Sabancı Family.

Subsidiaries

As of 30 September 2023, the type of activity of subsidiaries and their respective business segments in these condensed consolidated financial statements for the interim period are as follows:

Subsidiaries	Trade Stock			Number of	Registered
Market
	Type of Activity	Business Segment	Employees	Country
Agesa Hayat ve Emeklilik A.Ş. ("Agesa")	BİST	Individual Pension	Financial Services	1.772	Turkey
Akbank T.A.Ş. ("Akbank")	BİST	Banking	Banking	15.130	Turkey
Aksigorta A.Ş. ("Aksigorta")	BİST	Insurance	Financial Services	746	Turkey
Ankara Enternasyonel Otelcilik A.Ş. ("AEO")	-	Tourism	Other	1	Turkey
Carrefoursa Carrefour Sabancı Ticaret Merkezi A.Ş. ("Carrefoursa")	BİST	Trade	Other	13.599	Turkey
Çimsa Çimento Sanayi ve Ticaret A.Ş. ("Çimsa")	BİST	Cement	Building Materials	2.337	Turkey
Dx Technology Services and Investment BV ("Dx BV")	-	Information Technology	Digital	502	Holland
Exsa Export Sanayi Mamulleri Satış ve Araştırma A.Ş. ("Exsa")	-	Trade	Other	65	Turkey
Sabancı Building Solutions BV ("SBS")	-	Cement	Building Materials	196	Holland
Sabancı İklim Teknolojileri A.Ş. ("İklim Teknolojileri")	-	Energy	Energy	8	Turkey
Kordsa Teknik Tekstil A.Ş. ("Kordsa")	BİST	Tire reinforcement	Industry	4.456	Turkey
Teknosa İç ve Dış Ticaret A.Ş. ("Teknosa")	BİST	Trade	Digital	3.021	Turkey
Tursa Sabancı Turizm ve Yatırım İşletmeleri A.Ş. ("Tursa")	-	Tourism	Other	2	Turkey

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