As of end-2021, 60.4% of Tofaş’s shares were held by foreign shareholders while the average foreign-investor share of BIST-traded companies was 40.6% as of the same date.

MEETINGS WITH INSTITUTIONAL INVESTORS

The Tofaş Corporate Investor Relations Department conducted a total of four analyst meetings. These meetings were attended by members of senior management and consisted of a presentation of all the year’s quarterly results announced as of that date.

In addition to these four analyst meetings, 194 other meetings consisting of company visits, teleconferences, and investor conferences held in Turkey and abroad were attended, with the participation of 74 institutional investors and 120 financial analysts last year.

Tofaş took part in eleven investor video-conferences during the year. Meetings were held with 64 mutual funds during these conferences.

SHARE PERFORMANCE

The average value of Tofaş’s publicly-traded shares was 99% higher in 2021 than it was in 2020. The company’s stock also outperformed the BIST 100 index during a year in which the index rose by 33%.

Taking year-end prices into account however, the value of Tofaş’s stock increased by 145% in 2021, thus outperforming the BIST 100 index, which was up by 26%.

Tofaş’s prior dividend payments are shown below.

(TL MILLION)	2016	2017	2018	2019	2020	2021
Net profit	970	1,283	1,330	1,482	1,784	3,281
Dividend	350	800	880	1,200	1,500	3,200
Dividend / Net profit (%)	36	62	66	81	84	97.5

Tofaş’s management proposes to pay out a 2021 dividend totaling TL 3,200 million in value. This figure corresponds to a 97.5% dividend based on its 2021 profit.

DEVELOPMENTS IN INTERNATIONAL INVESTORS’ OWNERSHIP OF PUBLICLY-TRADED TOFAŞ SHARES

As of end-2021, 60.4% of Tofaş’s shares were held by foreign shareholders while the average foreign-investor share of BIST-traded companies was 40.6% as of the same date.

CORPORATE GOVERNANCE AT TOFAŞ

The implementation of corporate governance principles as a dynamic process made necessary by developments in capital markets is a matter of decisive and increasing importance for Tofaş. Having committed itself to compliance with the Capital Markets Board’s published corporate governance principles and adopted corporate governance as an inhouse corporate culture, TOFAŞ conducts its operations making such improvements and changes as emergent conditions may require. TOFAŞ takes a sustainable approach in the conduct of its corporate governance practices in keeping with the principles of transparency, accountability, fairness, and responsibility as spelled out in the Capital Markets Board’s Corporate Governance Communique.

Tofaş has its compliance with corporate governance principles independently audited in a process in which its practices are individually rated under the headings of “Shareholders”, “Public disclosure and transparency”, “Stakeholders”, and “Board of Directors”.

Audited by SAHA, a corporate governance and credit rating services firm, Tofaş’s corporate governance rating was reviewed as scheduled and revised once last year. Based on the results of a review of its 2021 operations, the company’s corporate governance rating was announced as 9.26 in a report issued as of 26 October 2021. The complete text of this report as well as of previous ones in both Turkish and English is available at tofas.com.tr/en/InvestorRelations/CorporateGovernance/Pages/default.aspx

TOFAŞ’S CORPORATE GOVERNANCE RATING (%)
Shareholders	86.70
Public disclosures & transparency	94.53
Stakeholders	99.51
Board of Directors	92.46
Average	92.59

Tofaş’ın resmi yatırımcı ilişkileri sayfasına aşağıdaki internet adresinden ulaşılabilmektedir. Yılın her çeyreği açıklanan finansal sonuçların yorumlanmasına ilişkin analist sunumları, finansal raporlar, yatırımcı ilişkileri faaliyetlerine ilişkin takvim ve yatırımcılar için önem arz eden diğer önemli bilgiler bu internet adresinden takip edilebilmektedir.

CONTACT INFORMATION

Tofaş’s official investor relations webpages in Turkish and English are located at the addresses given below. These pages provide access to current information about analysts’ presentations concerning the interpretation of the company’s quarterly financial results, financial reports, a calendar of investor relations activities, and other matters that may be of importance to investors.

Tofaş Investor Relations webpage (Turkish):

https://www.tofas.com.tr/YatirimciIliskileri/GenelBakis

Tofaş Investor Relations webpage (English):

https://www.tofas.com.tr/en/InvestorRelations/GeneralOverview

Institutional Investor Relations Department:

Devran AYDIN
Accounting Manager & Investor Relations Executive

Telephone: +90 212 275 3390 Extension: 2754
Email: [email protected]

Mehmet A. Ağyüz, CFA
Investor Relations Manager
Telephone: +90 212 275 3390 Extension: 2751
Email: [email protected]