Document:

Exhibit 4.3

 

Shareholder's Agreement

 

dated

__________________________

 

between

 

Hanzade Vasfİye
DoĞan Boyner

 

and

 

VUSLAT DOĞAN SABANCI

 

and

 

YAŞAR BEGÜMHAN DOĞAN FARALYALI

 

and

 

ARZUHAN DOĞAN YALÇINDAĞ

 

and

 

IŞIL DOĞAN

 

and

 

TURKCOMMERCE B.V.

 

     

     

    

 

Table of contents

 

	1.   	Definitions	4
	2.   	IPO Related Matters	9
	3.   	Shareholding Structure and Share Transfers	11
	4.   	Governance and Management of the Company	13
	5.   	Covenants	14
	6.   	Event of Default	15
	7.   	Effectiveness and Termination	16
	8.  	Miscellaneous	17

 

Schedule 3.04

Deed of Adherence

 

Schedule 4.01

Board of Directors Reserved Matters

 

Schedule 4.02

Business Principles and Environmental and Social
Management System

 

Appendix 1

EBRD Anti-Corruption Guidelines

 

    ii 

     

    

 

SHAREHOLDER'S AGREEMENT

 

THIS AGREEMENT is dated
______________________ (“Execution Date”)

 

BETWEEN

 

Hanzade Vasfiye Doğan
Boyner, a Turkish citizen with the Turkish ID number 26410796678 and residing at the address of Burhaniye Mahallesi Kısıklı
Caddesi No:65 Üsküdar/İstanbul-Turkey ("HVDB");

 

Vuslat
Doğan Sabancı, a Turkish citizen with the Turkish ID number 17353181560 and residing at the address of Burhaniye Mahallesi
Kısıklı Caddesi No:65 Üsküdar/ İstanbul, Turkey ("VDS");

 

Yaşar
Begümhan Doğan Faralyalı, a Turkish citizen with the Turkish ID number 26401796960 and residing at the address of Burhaniye
Mahallesi Kısıklı Caddesi No:65 Üsküdar/ İstanbul, Turkey ("YBDF");

 

Arzuhan
Doğan Yalçındağ, a Turkish citizen with the Turkish ID number 32848439988 and residing at the address of Burhaniye
Mahallesi Kısıklı Caddesi No:65 Üsküdar/ İstanbul, Turkey ("ADY");

 

Işıl
Doğan, a Turkish citizen with the Turkish ID number 26434795886 and residing at the address of Burhaniye Mahallesi Kısıklı
Caddesi No:65 Üsküdar/ İstanbul, Turkey ("ID");

 

(each of the above mentioned
parties shall be hereinafter referred to as a "Contract Party Shareholder" and collectively as the "Contract
Party Shareholders")

 

AND

 

TurkCommerce B.V, a private
limited liability company (besloten vennootschap met beperkte aansprakelijkheid), incorporated under the laws of the Netherlands,
having its official seat in Amsterdam and its registered office address at Amstelveenseweg 760, 1081JK Amsterdam (the "Investing
Shareholder").

 

Each of the Contract Party Shareholders
and the Investing Shareholder shall be severally referred to as a "Party" and collectively as the "Parties".

 

RECITALS

 

		A.	WHEREAS, HVDB, VDS, YBDF, ADY, Doğan Portal ve Elektronik Ticaret A.Ş. and the Investing
Shareholder have executed an agreement for the sale of Shares (as defined below) owned by HVDB, VDS, YBDF and ADY to the Investing Shareholders
on 30 December 2014 (“SPA”) and a Shareholders' Agreement on 30 December 2014 (“Shareholders' Agreement”),
in relation to the governance of D-Market Elektronik Hizmetler ve Ticaret A.Ş., a company incorporated under the laws of Turkey,
registered with the Istanbul Trade Registry under the registration number 436165 and with its headquarters located at the address of Kuştepe
Mahallesi Mecidiyeköy Yolu Caddesi No: 12 Trump Towers Kule:2 Kat:2 Şişli/İstanbul, Turkey ("Company").

 

		B.	WHEREAS, the Shareholders' Agreement was amended and restated in its entirety through execution
of an agreement between the Contract Party Shareholders and the Investing Shareholder on 7 August 2020 (“Amended and Restated
Shareholders Agreement”).

 

		C.	WHEREAS, the Contract Party Shareholders and the Investing Shareholder are planning to offer a
portion of the shares they hold in the Company to the public in a stock exchange agreed by and between the Parties by way of initial public
offering ("IPO").

 

		D.	WHEREAS, the Contract Party Shareholders and the Investing Shareholder have agreed to enter into
a shareholders' agreement to regulate the terms and conditions for their cooperation as shareholders in the Company after the IPO.

 

    3 

     

    

 

NOW, THEREFORE, the Parties,
intending to be bound hereby, agree as follows:

 

		1.	Definitions

 

		1.1	In this Agreement, each of the following terms shall have the meaning
set forth below:

 

“Additional
Payment” shall have the meaning assigned to such term in Article 2.3.

 

“Additional
Payment Cap” shall have the meaning assigned to such term in Article 2.3.

 

"Affiliate"
an Affiliate of a Person shall mean

 

		(a)	any Person which (a) is directly or indirectly controlled by such Person, (b) directly or indirectly controls
such Person; or (c) is under common control with such Person. For the purposes of this definition, "control" shall mean
the absolute power (not on a shared basis), whether held directly or indirectly, to direct or cause direction of management and policies
through ownership of voting securities, by contract or otherwise; and

 

		(b)	in the case of the Investing Shareholder, "Affiliate" shall mean (a) any manager or investment
adviser of any FT Fund from time to time, or any other fund or investment in respect of which the manager or investment adviser of an
FT Fund is the manager of; (b) any direct or indirect FT Co-Investors in/of the Investing Shareholder from time to time; and (c) any Person
directly or indirectly owned, Controlled or managed by the General Partner.

 

"Agreement"
shall mean this Shareholders' Agreement, as amended, supplemented, restated or otherwise modified from time to time.

 

"Amended
and Restated Shareholders Agreement" shall have the meaning assigned to such term in Recital B.

 

"Articles
of Association" shall mean the articles of association of the Company reflecting the terms and conditions of this Agreement to
the extent possible, and subject to amendment from time to time in accordance with the terms of this Agreement.

 

"Board of
Directors" or "Board" shall mean the board of directors of the Company from time to time.

 

"Business
Day" shall mean a day other than Saturday, Sunday and any other day on which commercial banks located in Istanbul (Turkey) or
the Netherlands are not open for general business.

 

"Class A
Directors" shall have the meaning assigned to such term in Article 4.1(a).

 

"Class A
Shareholder" shall mean the person(s) holding Class A Shares from time to time in accordance with the terms of this Agreement.

 

"Class A
Shares" shall mean the Shares of the Company identified as Class A Shares in the Articles of Association and in total representing
such portion of the issued and outstanding share capital of the Company at the Effective Date that are owned by HVDB based on the share
ownership structure after the IPO.

 

"Class B
Shareholders" shall mean the person(s) holding Class B Shares from time to time in accordance with the terms of this Agreement.

 

    4 

     

    

 

"Class B
Shares" shall mean the Shares of the Company identified as Class B Shares in the Articles of Association and in total representing
such portion of the issued and outstanding share capital of the Company at the Effective Date that are owned by the Contract Party Shareholders
(other than HVDB’s Class A shares), the Investing Shareholder and the public based on the share ownership structure after the IPO.

 

"Coercive
Practice" shall mean the impairing or harming, or threatening to impair or harm, directly or indirectly, any party or the property
of the party to influence improperly the actions of a party, as this term is interpreted in accordance with the EBRD Anti-Corruption Guidelines.

 

"Collusive
Practice" shall mean an arrangement between two or more parties designed to achieve an improper purpose, including influencing
improperly the actions of another party, as this term is interpreted in accordance with the EBRD Anti-Corruption Guidelines.

 

"Company"
shall have the meaning assigned to such term in the preamble to this Agreement.

 

"Control"
shall mean, in relation to any Undertaking (being the Controlled Person), being:

 

		(a)	entitled to exercise, or control the exercise of (directly or indirectly) more than 50 per cent. of the
voting power at any general meeting of the shareholders, members or partners or other equity holders (and including, in the case of a
limited partnership, of the limited partners of) (or in the case of a trust, of the beneficiaries thereof) in respect of all or substantially
all matters falling to be decided by resolution or meeting of such persons; or

 

		(b)	entitled to appoint or remove or control the appointment or removal of:

 

		(i)	directors on the Controlled Person's board of directors or its other governing body (or, in the case of
a limited partnership, of the board or other governing body of its general partner) who are able (in the aggregate) to exercise more than
50 per cent of the voting power at meetings of that board or governing body in respect of all or substantially all matters; and/or

 

		(ii)	any managing member of such Controlled Person;

 

		(iii)	in the case of a limited partnership its General Partner; or

 

		(iv)	in the case of a trust, its trustee and/or manager; or

 

		(c)	entitled to exercise a dominant influence over the Controlled Person (otherwise than solely as a fiduciary)
by virtue of the provisions contained in its constitutional documents or, in the case of a trust, trust deed or pursuant to an agreement
with other shareholders, partners, members or beneficiaries of the Controlled Person,

 

and Controller,
Controlled, and Controlling shall be construed accordingly;

 

"Corrupt
Practice" shall mean the offering, giving, receiving or soliciting, directly or indirectly, anything of value to influence improperly
the actions of another party, as this term is interpreted in accordance with the EBRD Anti-Corruption Guidelines.

 

"Deed of
Adherence" shall mean the Deed of Adherence as stipulated in Schedule 3.04.

 

"Default
Notice" shall have the meaning assigned to such term in Article 6.1.

 

"Defaulting
Party" shall have the meaning assigned to such term in Article 6.1.

 

"Directors"
shall mean the members of the Board of Directors from time to time.

 

"EBRD"
shall mean the European Bank for Reconstruction and Development.

 

    5 

     

    

 

"EBRD Anti-Corruption
Guidelines" shall mean the guidelines appended at Appendix 1.

 

"Effective
Date" shall have the meaning assigned to such term in Article 2.1.

 

"Execution
Date" shall have the meaning assigned to such term in the preamble to this Agreement.

 

"Fraudulent
Practice" shall mean any act or omission, including a misrepresentation, that knowingly or recklessly misleads, or attempts to
mislead, a party to obtain a financial or other benefit or to avoid an obligation, as this term is interpreted in accordance with the
EBRD Anti-Corruption Guidelines.

 

"FT Co-Investor"
shall mean any direct or indirect provider of equity finance who (a) is not a Restricted Transferee and (b) is or becomes a shareholder
in a Subsidiary of the General Partner that has a direct or indirect interest in the Shares and excluding any such Person(s) (other than
EBRD and anyone who is (i) an existing Shareholder, (ii) an Affiliate of the Investing Shareholder; or (iii) a limited partner in FT Fund,
or their respective Affiliates) who acquire(s) their interest in such Subsidiary of the General Partner following the expiry of the six
month period commencing on the day following the Effective Date.

 

"FT Fund"
shall mean any funds or investments managed by Templeton Asset Management Ltd. and/or its affiliates from time to time.

 

"General
Partner" shall mean Templeton Turkey Fund GP Ltd.

 

"Governmental
Authority" shall mean any legislative, executive or judicial unit of any, and/or would not individually or collectively constitute,
governmental entity (foreign, federal, state or local) or any department, listing agency, stock exchange, commission, board, agency, bureau,
official or other regulatory, administrative or judicial authority thereof.

 

"Group"
shall mean the Company and all entities Controlled by the Company from time to time.

 

"Guaranteed
Proceeds" shall have the meaning assigned to such term in Article 2.2(i).

 

"HVDB"
shall have the meaning assigned to such term in the preamble to this Agreement.

 

"ICC"
shall have the meaning assigned to such term in Article 8.8.

 

"Investing
Director" shall have the meaning assigned to such term in Article 4.1(a).

 

"Individual
Shareholders" shall mean VDS, YBDF, ADY and ID.

 

"Investing
Shareholder" shall have the meaning assigned to such term in the preamble to this Agreement.

 

"IPO"
shall have the meaning assigned to such term in Recital C.

 

"Management
Accounts" means the unaudited monthly accounts prepared by the management on a consistent basis in accordance with Turkish GAAP.

 

“Net Proceeds”
means Investing Shareholder’s gross proceeds from Share Sale minus any
expenses related to the Sale of its Shares.

 

"Non-defaulting
Party" shall have the meaning assigned to such term in Article 6.1.

 

"Party"
and "Parties" shall have the meaning assigned to such term in the preamble to this Agreement.

 

    6 

     

    

 

"Person"
shall mean an individual, partnership, joint venture, company, trust, foundation, Undertaking, unincorporated organization, government
or other entity.

 

"Person
of Ill Repute" shall mean a Person who is not a Reputable Person.

 

"Primary
Sale" shall mean sale of the newly issued shares by the Company by way of a capital increase, on a non-preemptive basis, to the
public in accordance with the IPO.

 

"Prohibited
Practice" shall mean any Corrupt Practice, Fraudulent Practice, Coercive Practice, Collusive Practice or Theft.

 

"Qualifying
Persons" shall mean HVDB's spouse or relative (hısım) by blood or marriage up to the level of second degree;

 

"Qualifying
SPV" shall mean any company in respect of which (i) its shares are Controlled by HVDB or Qualifying Persons;

 

"Related
Party" shall mean (i) related party, as so defined under Turkish Corporate Tax Law No.
5520, published in the Official Gazette No. 26205 and dated 21 June 2006, as amended or replaced from time to time and (ii) with respect
to an individual, the individual’s spouse or relative (hısım) by blood or marriage up to the level of second degree
and any Person Controlled by them.

 

"Remedy
Period" shall have the meaning assigned to such term in Article 6.2.

 

“Representative
of the Contract Party Shareholders” shall have the meaning assigned to such term in Article 8.14.

 

"Representatives"
shall have the meaning assigned to such term in Article 8.3(b).

 

"Reputable
Person" shall mean a person who does not (as applicable): (a) have existing links to organised crime (as demonstrated by credible
evidence); (b) have a non-transparent ownership structure which does not reveal its ultimate owners or beneficiaries; (c) have unexplained
sources of wealth; (d) have conviction for, or have judicial proceedings being commenced against him in respect of, serious criminal offences,
money laundering or terrorism activities; (e) appear on internationally recognised blacklist; or (f) have involvement in corruption, bribery,
tax evasion or Fraudulent Practices (as demonstrated by credible evidence).

 

"Reserved
Matters" shall mean have the meaning assigned to it in Article 4.1(c).

 

"Restricted
Competitor" shall mean a Person all or substantially all of whose operations primarily comprise e-commerce platform activity
in a Turkish market, including Trendyol, Amazon, Çiçek Sepeti, Gitti Gidiyor, Morhipo, n11 and Getir.

 

"Restricted
Transferee" shall mean a Person of Ill Repute and/or a Restricted Competitor.

 

"Restructuring"
shall mean any shareholding restructuring where the shares of the Investing Shareholder shall temporarily be transferred to a third party
(directly or indirectly) which is not to be in any case a Restricted Transferee, for a maximum period of five (5) business days, following
which the General Partner shall be Controlling the Investing Shareholder.

 

"Rules"
shall have the meaning assigned to such term in Article 8.8.

 

"Sale",
"Sell", "Sold “and "Selling" shall have each
the meaning assigned to such terms in Article 3.3.

 

"Secondary
Sale" shall mean the sale of the Shareholders’ Shares to the public market in accordance with the IPO.

 

    7 

     

    

 

"Shareholders"
shall mean the legal owners of the Shares from time to time.

 

"Shares"
shall mean the issued and outstanding shares in the share capital of the Company at any time.

 

"SPA"
shall have the meaning assigned to such term in Recital B.

 

"Subsidiary"
shall mean, in relation to a body corporate or partnership (for the purposes of this definition, the "holding company"),
a company in which that body corporate or partnership:

 

		(a)	holds a majority of the voting rights in it; or

 

		(b)	is a member of it and has the right to appoint or remove a majority of its board of directors; or

 

		(c)	has the right to exercise a dominant influence over it by virtue of provisions contained in its memorandum
or articles of association or constitutional documents or by virtue of a control contract; or

 

		(d)	has a participating interest in it and either actually exercises a dominant influence over it or the two
companies are managed on a unified basis; or

 

		(e)	is a member of it and controls alone, pursuant to an agreement with other shareholders or members, a majority
of the voting rights in it; or

 

		(f)	if it is a subsidiary of a body corporate or partnership which is itself a subsidiary of that other body
corporate or partnership,

 

and the terms "Subsidiaries"
and "holding companies" are to be construed accordingly. For the purposes of this definition, a holding company shall,
also be treated as a member of a Subsidiary if any shares in such Subsidiary are held by a person acting on behalf of the holding company
or any of its Subsidiaries.

 

"TCC"
shall mean the Turkish Commercial Code, as may be amended from time to time.

 

"TCO"
shall mean the Turkish Code of Obligations, as may be amended from time to time.

 

"Theft"
means the misappropriation of property belonging to another person.

 

"Total Revenues"
shall mean the sum of (i) sales of goods revenue generated under direct sales operations, (ii) marketplace revenues comprising (a) marketplace
commission, (b) transaction fees and (c) other contractual charges to the merchants; (iii) delivery services revenue generated under both
marketplace and direct sales operations, as well as delivery services provided to third parties outside the Company’s online platform;
and (iv) other revenue generated from the use of the Company’s value-added services in accordance with the Company’s audited
financials based on International Financial Reporting Standards issued by the International Accounting Standards Board.

 

"Turkey"
shall mean the Republic of Turkey.

 

"Turkish
GAAP" shall mean generally accepted accounting principles in accordance with Turkish Uniform Chart of Accounts and Turkish Tax
Procedural Code as of the date of the signature of this Agreement.

 

"Undertaking" shall
mean a body corporate or partnership or unincorporated association or trust carrying on trade or business with or without a view to
profit. In relation to an undertaking which is not a company, expressions in this Agreement appropriate to companies are to be
construed as references to the corresponding persons, officers, documents or agents (as the case may be) appropriate to undertakings
of that description.

 

    8 

     

    

 

		1.2	Principles of Construction

 

The division of
this Agreement into schedules, articles, clauses, sections, paragraphs and other subdivisions and the insertion of headings are for convenience
of reference only and shall not affect or be utilized in construing or interpreting this Agreement. All references in this Agreement to
any "Schedule", "Paragraph", "Section" and/or any "Article" are to the corresponding schedule,
paragraph, section and/or article, respectively, of this Agreement unless otherwise specified. The words such as "herein", "hereinafter",
 "hereof", "hereby", "hereto" and "hereunder and words of similar impact when used in this Agreement
shall refer to this Agreement as a whole and not merely to a subdivision in which such words appear, unless the context otherwise requires.
The word "including" or any variation thereof means "including, without limitation" and shall not be construed to
limit any general statement that it follows to the specific or similar terms or matters immediately following it. The Schedules and Annexes
attached to this Agreement shall be construed with and as an integral part of this Agreement. Words in the singular include the plural
and vice versa.

 

		2.	IPO Related Matters

 

		2.1	Effectiveness

 

		(a)	The Parties have agreed that the Amended and Restated Shareholders Agreement shall be in effect until
the occurrence of the IPO and upon occurrence of the IPO, the Amended and Restated Shareholders Agreement shall be automatically terminated
in its entirety and this Agreement shall come into force and effect immediately and automatically (the "Effective Date").
As of the Effective Date, and with the automatic termination of the Amended and Restated Shareholders Agreement, the Parties hereby agree
and undertake that they shall have no claims from each other in relation to or arising out of the Amended and Restated Shareholders Agreement
up to and including the Effective Date. For the avoidance of doubt, Article 2.1(c) shall come into force and effect immediately
upon the execution of this Agreement and Article 2.1(c) shall remain in force if the IPO does not occur by 30 September 2021.

 

		(b)	Without prejudice to Article 2.1(a), the Parties shall, as soon as possible following the execution of
this Agreement, cooperate in obtaining all the relevant corporate decisions and other necessary actions to ensure that the Articles of
Association of the Company is duly amended to:

 

		(i)	take out and delete all provisions of the Articles of Association that were inserted to reflect the Amended
and Restated Shareholders Agreement, with an aim to prepare the Company for the IPO with the understanding that they will use their rights
at the relevant corporate bodies of the Company to comply with the terms of this Agreement, and

 

		(ii)	reclassify majority of the Company shares owned by HVDB as Class A Shares and the Company shares owned
by the remaining shareholders and remainder of the shares owned by HDVB as Class B Shares, whereas the Class A Shares owned by HVDB will
have 15 (fifteen) voting rights per share and Class B Shares will have one vote per share.

 

		(c)	If the IPO does not occur by 30 September 2021, the Parties shall, as immediately as possible, take all
corporate decisions and all other necessary actions to ensure that the Articles of Association is duly amended to:

 

		(i)	take out and delete all provisions of the Articles of Association that were inserted to prepare the Company
for the IPO in accordance with Article 2.1(b);

 

		(ii)	reclassify the Company shares in the same manner as they were classified before the Articles of Association
amendment set out in Article 2.1(b); and

 

		(iii)	fully reflect the provisions of the Amended and Restated Shareholders Agreement, and

 

that accordingly
the composition of the Board of Directors is restituted to its state prior to the Articles of Association amendment set out in Article
2.1(b)

 

    9 

     

    

 

		2.2	Priority Right in IPO

 

The Shareholders
shall agree on the allocation of the IPO proceeds between the Primary Sale and Secondary Sale amounts. Afterwards, the Secondary Sale
shall be allocated amongst the Shareholders based on the priority set out in the below sequence:

 

		(i)	First USD 400,000,000 (four hundred million United States Dollars)
shall be allocated to the Class B Shares owned by the Investing Shareholders (“Guaranteed Proceeds”);

 

		(ii)	Second USD 400,000,000 (four hundred million United States Dollars)
shall be allocated to the Class B Shares owned by the Contract Party Shareholders;

 

		(iii)	Subsequent to (i) and (ii) above, any following proceeds will
be shared on 50:50 basis between the Class B Shares owned by the Contract Party Shareholders and the Investing Shareholders.

 

		2.3	IPO Expenses

 

The Parties agree that, in the event of an IPO before
30 September 2021, on an Agreed Exchange, the Investing Shareholder, the Contract Party Shareholders and the Company shall be liable
for all reasonable and documented third party marketing (including printing and roadshow costs), and advisory costs (including,
legal, financial and underwriting costs) pro rata to the number of Shares sold by each of them as part of such IPO, and all other
costs (including audit costs), to the fullest extent permitted by the applicable law, shall be borne by the Company.

 

		2.4	Additional Payment

 

In connection with
the SPA, as an adjusted purchase price payment for the sale of the Shares by HVDB, VDS, YBDF and ADY to the Investing Shareholder (“Additional
Payment”), the Investing Shareholder agrees to pay HVDB, VDS, YBDF and ADY an amount subject to an aggregate cap of USD 41,000,000
(forty one million United States Dollars) (“Additional Payment Cap”). Subject to the Additional Payment Cap, the Additional
Payment shall be calculated and paid as 5.5% of the Net Proceeds of the Investing Shareholder upon any Sale of its Shares during IPO that
has occurred until 30 September 2021 or in any subsequent Sale of its Shares including secondary public offerings. All the Additional
Payment shall be duly paid by the Investing Shareholder to HVDB, acting on behalf of VDS, YBDF and ADY, latest within 30 days after each
Sale of its Shares.

 

The Additional
Payment shall be calculated and paid over the total Net Proceeds from the IPO or any subsequent Sale, provided that the total
proceeds received by the Investing Shareholder upon such Sale(s) of Shares reaches USD 400,000,000 (four hundred million United States
Dollars).

 

    10 

     

    

 

		3.	Shareholding Structure and Share Transfers

 

		3.1	Shares

 

		(a)	As of the Execution Date, the share capital of the Company is comprised of Class A Shares and Class B
Shares. Class A Shares is held by HVDB while the Shares held by the Investing Shareholder and the Contract Party Shareholders (other than
HVDB’s Class A shares) as well as the publicly traded shares upon the occurrence of the IPO shall be Class B Shares.

 

		(b)	The Class A Shares shall have 15 (fifteen) voting rights per share while Class B Shares will have one
vote per share.

 

		3.2	Capital Increases

 

		(a)	The Shareholders shall have preemptive rights to participate in capital increases of the Company pro
rata to their shareholding and such Shares would, upon issuance, be (i) the same class of Shares as is held by the subscribing Shareholder
at such time or (ii) if a Shareholder holds more than one class of shares at such time, the Shares to be issued will be split pro rata
between such classes (with Shareholders holding Shares of the same class as those that are not subscribed for having a right to subscribe
for any such Shares in priority to other Shareholders).

 

		(b)	The Parties shall exercise their respective rights as Shareholders (including procuring that each Director
appointed by it exercises its rights as a Director) in a way that, save with the prior written consent of all Shareholders, no Shares
shall be allotted to any Person who is a Restricted Transferee.

 

		(c)	In the event that after the process in 3.2(a) above, any Shares which were offered to the Shareholders
were not subscribed for in accordance with Article 3.2(a), the Company may issue Class B Shares only, in the amount equal to the number
of unsubscribed Shares, to any Person, other than a Restricted Transferee.

 

		3.3	Restrictions on Share Transfers

 

		(a)	Restrictions on Share Transfers

 

Shares may only be
transferred in accordance with the provisions of this Agreement, and, where applicable, the Articles of Association (any Share transfer
being referred to as a "Sale"). The words "Sell," "Sold" and "Selling"
shall have similar meaning as the context requires).

 

		(b)	Restrictions on Share Transfers by Class A Shareholder

 

Save for the restrictions
foreseen under the applicable laws, Class A Shareholder may transfer her Class A Shares to a Qualifying SPV and/or Qualifying Persons,
subject to Articles 3.4 and provided that such Person shall execute and deliver the Deed of Adherence as provided in Schedule 3.04 to
the relevant Party(ies) and becomes party to this Agreement as the Class A Shareholder. In case of a Sale of the Class A Shares to a Person
who is not a Qualifying SPV and/or Qualifying Persons a notice of such Sale shall be given to the Investing Shareholder by the Class A
Shareholder. For avoidance of doubt, this restriction shall not apply to transfer of any Class B Shares owned by the Class A Shareholder.

 

    11 

     

    

 

		(c)	Restrictions on Share Transfers by the Investing Shareholder

 

The Investing Shareholder
may transfer its Shares to any Person, subject to provisions of this Articles 3.3, provided that the Class B Shares owned by the Investing
Shareholder shall not be transferred to a Restricted Transferee.

 

Save for the Restructuring,
in case of any Sale of the Class B Shares owned by the Investing Shareholder to a Person that is not a Subsidiary of the General Partner,
such Person who has partially or wholly acquired the Shares from the Investing Shareholder shall not have any right under or become a
party to this Agreement by way of executing a Deed of Adherence or otherwise.

 

Save for the Restructuring,
in case of a Sale of all the Class B Shares owned by the Investing Shareholders to any Subsidiary of the General Partner which is not
a Restricted Transferee, (a) a notice of such Sale shall be given to the Class A Shareholder by the Investing Shareholder; (b) the Subsidiary
of the General Partner, to the extent that it is not already a party to this Agreement and to the extent that it is becoming a direct
shareholder in the Company, executes a Deed of Adherence to this Agreement substantially in the form attached hereto as Schedule 3.04
and becomes bound by this Agreement and shall have all rights and assume all obligations provided in the Deed of Adherence; and (c) the
required government approvals, if any, associated with such Sale are obtained; and (d) before the Subsidiary of the General Partner ceases
to be a Subsidiary of the General Partner, the Subsidiary shall (and the Investing Shareholder will procure that the Subsidiary shall)
transfer all of its shares back to the Investing Shareholder.

 

Notwithstanding the
above, the Investing Shareholder is free to Sell its Shares by way of listing or any Sale of its Shares at the open market of any stock
exchange without being subject to the restrictions on Sale to a Restricted Transferee to the extent such Sale is not realised through
a block sale or private placement.

 

The Investing Shareholder
shall have the right to initiate an exit process for the Sale of its Shares any time following the IPO. In such case, the Class A Shareholder
shall provide their support and take all such steps as reasonably requested by the Investing Shareholder to assist the Investing Shareholder
in affecting or taking the steps in furtherance of a sale (including but not limited to participation in management presentations / roadshows).

 

		3.4	Transfers to Affiliates by the Class A Shareholder

 

Any Sale of Class
A Shares to a Qualifying SPV and/or Qualifying Persons can be made freely so long as HVDB is the Class A Shareholder; provided,
however, that (i) notice of such Sale be given to the Investing Shareholder; (ii) the transferee, to the extent that it is not
already a party to this Agreement and to the extent that it is becoming a direct shareholder in the Company, executes a Deed of Adherence
to this Agreement substantially in the form attached hereto as Schedule 3.04 and becomes bound by this Agreement and shall have all rights
and assume all obligations provided in the Deed of Adherence; and (iii) the required government approvals, if any, associated with such
Sale are obtained; and (iv) before the Qualifying SPV ceases to be Controlled by HVDB or the Qualifying Persons, the Qualifying SPV shall
(and HVDB will procure that the Qualifying SPV shall) transfer all of its shares back to HVDB or the Qualifying Persons.

 

		3.5	Deed of Adherence

 

Save as
otherwise is specifically provided in this Agreement and where this Agreement otherwise terminates in accordance with the terms
herein, if (a) any Class A Shares are transferred by the Class A Shareholder pursuant to this Agreement and if the transferee is not
a party to this Agreement, the transferor shall procure that the transferee shall execute and deliver the relevant Deed of Adherence
to the Investing Shareholder, who shall execute the Deed of Adherence in return, or (b) any Class B Shares are transferred by the
Investing Shareholder to any Subsidiary of the General Partner pursuant to this Agreement, the transferor shall procure that the
transferee shall execute and deliver the relevant Deed of Adherence to the Class A Shareholder immediately prior to the transfer of
such Shares, who shall execute the Deed of Adherence in return.

 

    12 

     

    

 

 

		4.	Governance and Management of the Company

 

		4.1	Board of Directors of the Company

 

		(a)	As long as the Investing Shareholder owns at least 7.5% (seven point five per cent) of the issued share
capital of the Company and provided that the Investing Shareholder does not breach its (i) Sale obligation set forth under Article 3.3(c)
and (ii) non-compete obligation set forth under Article 5.1 of this Agreement, one Director among the Directors appointed by the Class
A Shareholder ("Class A Directors") shall be the Person designated by the Investing Shareholder and the Class A Shareholder
shall use its voting rights and privilege to appoint such Director designated by the Investing Shareholder ("Investing Director")
as one of the Class A Directors. As long as the Investing Shareholder has a right to designate an Investing Director, the Class A Shareholder
shall procure that a Board decision resolving on:

 

		(i)	acquisition of any interest of the share capital of any Related Party, and

 

		(ii)	approval, amendment or termination of any internal policies and procedures in respect of anti-bribery
and corruption; or that are inconsistent with the Investing Shareholder "Business Principles and Environmental and Social Management
System"

 

is not taken unless
approved affirmatively by the Investing Director in person or through an affirmative written opinion in case the Investing Director cannot
personally attend a Board of Directors meeting.

 

		(b)	Directors may be elected for a maximum term of office of three (3) years and until the time their successors
are elected. Unless otherwise specified in this Agreement, a Director whose term of office expires may be re-elected. The provisions of
the TCC and the Articles of Association shall apply to the meeting and decision quorums of the Board of Directors' meetings.

 

		(c)	Until the Investing Shareholder receives an amount corresponding to the Guaranteed Proceeds from the Sale
of its Shares through IPO or thereafter in any subsequent Sale , the Class A Shareholder shall procure that the matters specified in Schedule
4.01 ("Reserved Matters") cannot be taken and/or the Company does not transact unless approved affirmatively by the Investing
Director in person or through an affirmative written opinion in case the Investing Director cannot personally attend a Board of Directors
meeting, save for the situation where such Board of Director’s decision is necessitated by the applicable laws and/or regulations.
Upon the Investing Shareholder receiving the Guaranteed Proceeds in accordance with Article 2.2(i) of this Agreement through IPO or thereafter
in any subsequent Sale, the Investing Shareholder’s Reserved Matters shall automatically cease to exist.

 

		(d)	The Investing Shareholder shall procure that the Investing Director (i) shall attend to meetings including
one of the matters specified in Article 4.1(a) or (c), as applicable, as possible and (ii) shall inform the Class A Directors of its written
opinion (specifying whether it would vote affirmatively or negatively) in matters specified in Article 4.1(a) or4.1(c), as applicable,
in case he/she is not able to attend such meeting.

 

    13 

     

    

 

		(e)	Pursuant to Article 390 of the TCC, resolutions of the Board of Directors may be adopted without holding
a physical meeting, if a resolution proposal to that effect is made by one of the Directors in writing, served on all Directors and approved
by the simple majority of the Directors of the Board of Directors, by their signatures in writing. For the avoidance of doubt, any resolution
proposal relating to the matters listed in Article 4.1(a) or (c), as applicable, for which no physical meeting is required, shall be approved
in accordance with Article4.1(a) or (c).

 

		(f)	The Investing Shareholder shall at all times and from time to time have the right to require the removal
of the Investing Director appointed by it and to have another Director appointed in his/her place; and the Class A Shareholder shall be
bound to promptly act in accordance with such appointment or recommendation, as the case may be.

 

		(g)	The obligations of the Class A Shareholder provided in this Article 4.1 shall exclude the independent
Directors who will be appointed to the Board of Directors as required by the relevant securities laws applicable to the Company.

 

		4.2	Financial Reporting

 

The Class A Shareholder
shall procure, so far as legally permissible, that as long as the Investing Shareholder holds a right under Article 4.1 of this Agreement
to designate one member to the Board of Directors, the Company will provide to the Investing Shareholder the financial and other information
requested by such Party, including, but not limited to, the following:

 

		(a)	detailed monthly Management Accounts and management discussion and analysis of the monthly key operating
indicators determined by HVDB and the Investing Shareholder, and financial results within four (4) weeks of the end of each month;

 

		(b)	audited accounts of the Company in respect of each financial year within four (4) months of the end of
each financial year;

 

		(c)	a quarterly balance sheet, profit and loss account and cash flow statement within five (5) weeks of the
end of each quarter; and

 

		(d)	such other information or access to the management team as the Investing Shareholder may require from
time to time.

 

		4.3	Policies and Procedures

 

The Class A Shareholders
and the Investing Shareholder acknowledge that the Company will be operated based on the "Business Principles and Environmental and
Social Management System" attached hereto as Schedule 4.04 which is as currently conducted.

 

		5.	Covenants

 

		5.1	Non-Compete

 

The Investing Shareholder
covenants that, for so long there is an Investing Director appointed at the Board of the Company, it shall not and shall procure that any Subsidiary of the General
Partner and any entity Controlled by the General Partner shall not, whether alone or jointly, directly or indirectly be engaged or concerned
or interested economically or otherwise in a Restricted Competitor that operates in Turkey. For avoidance of doubt, in case the Investing
Shareholder acts in breach of its non-compete obligation provided in this Article 5.1, it shall automatically lose all its right under
this Agreement including the right to designate an Investing Director to the Board of Directors provided under Article 4.1 and financial
reporting provided under Article 4.2.

 

    14 

     

    

 

		5.2	Environment and Social Compliance

 

The Class A Shareholder
and Investing Shareholder shall take reasonable steps, and cause the Class A Directors and Investing Director appointed by them (respectively)
to take reasonable steps to pass any necessary board resolutions, to procure that the Group shall adopt, and conduct its business and
operations in accordance with, one or more environmental and social compliance policies that are in compliance with applicable laws and
stock exchange regulations as may be agreed by the Class A Shareholder and Investing Shareholder from time to time acting reasonably and
in good faith (substantially in accordance with EBRD’s prevailing policies in respect of such matters).

 

		5.3	Internal Procedures

 

The Class A Shareholder
and Investing Shareholder shall take reasonable steps, and cause the Directors appointed by them (respectively) to take reasonable steps
to pass any necessary board resolutions, to procure that Group shall maintain sufficient internal procedures for the purpose of preventing
the Group from becoming an instrument for money laundering, terrorism financing, fraud or other corrupt or illegal purposes.

 

		5.4	Fraud and Corruption

 

The Class A Shareholder
and Investing Shareholder shall take reasonable steps and cause the Directors appointed by them (respectively) to take reasonable steps
to pass any necessary board resolutions, to procure that Group shall not authorise or permit any of its respective officers, directors,
authorised employees, Affiliates, agents or representatives to, engage in any Prohibited Practice.

 

		5.5	Procurement

 

The Parties undertake
to exercise their voting rights as Shareholders to pass any necessary shareholder resolutions, and shall cause the Directors appointed
by them (respectively) to pass any necessary board resolutions, to procure that the Group shall at all times use sound procurement methods
which ensure a sound selection of goods and services at fair market value and that the Group is making its capital investments in a cost
effective manner.

 

		6.	Event of Default

 

		6.1	Material breach notice

 

In case of a material
breach of any provisions of this Agreement, the Non-defaulting Party ("Non-defaulting Party") shall be entitled to send
a notice (the "Default Notice") to the Party in default ("Defaulting Party") identifying the reasons
for the occurrence of such default and referencing, where applicable, the provision that has been defaulted under.

 

		6.2	Remedy period

 

In the event of
a default, the Defaulting Party shall have the right to remedy the default in a manner reasonably satisfactory to the Non-defaulting Party
within a period of thirty (30) Business Days ("Remedy Period") from the receipt of the Default Notice by the Defaulting
Party. Subject to Article 6.3, the Non-defaulting Party shall have the right to claim its direct damages (for the avoidance of doubt
excluding any consequential damages) resulting from the default within one (1) month following the Remedy Period unless the default is
cured within the Remedy Period by the Defaulting Party.

 

    15 

     

    

 

		6.3	Liquidated Damages

 

Without prejudice
to the Investing Shareholder's right to seek specific performance, upon the occurrence of any of the following events which are not remedied
in accordance with Article 6.2:

 

		(a)	transfer of Shares (or shares of a Qualifying SPV) in breach of Article 3.3(b) or 3.4;

 

		(b)	failure of Class A Shareholder to procure that the transferee delivers a Deed of Adherence in the prescribed
form immediately prior to the transfer of such Shares in accordance with Article 3.5;

 

		(c)	completion of a transfer of Shares by the Class A Shareholder (or the transfer of shares of the Qualifying
SPV) without first notifying the Investing Shareholder in writing in accordance with Article 3.3(b);

 

		(d)	failure of the Class A Shareholder to appoint the Director elected
by the Investing Shareholder in accordance with Article 4.1;

 

		(e)	failure of the Board of Directors to resolve on a Related Party
acquisition in breach of Article 4.1(a) or a Reserved Matter in breach of Article 4.1(c) of this Agreement; and 

 

		(f)	failure of providing information in accordance with Article
4.2.

 

then in the event
that the Investing Shareholder is the Non-defaulting Party within the terms of Article 6.1, upon the expiry of the thirty (30) Business
Days stated in Article 6.2 the Defaulting Party shall pay to the Investing Shareholder upon demand USD 10,000,000 (ten million United
States Dollars) as penalty under article 179 of the TCO (ceza koşulu). The Parties agree that the penalty fee determined under
this Article 6.3 is not unreasonable or exorbitant and shall not be subject to reduction in accordance with article 22 of the TCC.

 

		7.	Effectiveness and Termination

 

		7.1	Termination

 

Subject to Article
7.2, this Agreement shall terminate, other than this Article 7 and Articles 8.2 to 8.10 (both inclusive) and 8.13;

 

		(a)	upon the mutual written agreement of the Parties;

 

		(b)	when Investing Shareholder's share ratio in the Company falls below 7.5% of the total share capital of
the Company;

 

		(c)	save for the Restructuring, upon the General Partner ceasing
directly or indirectly to have the ability to exercise more than 50 per cent of the voting power at meetings of the board of the Investing
Shareholder in respect of all or substantially all matters (for the avoidance of doubt, this shall also trigger upon any direct or indirect
change of the ultimate Controlling Person of the Investing Shareholder);

 

		(d)	for the Individual Shareholders within 5 (five) Business Days
following the IPO of the Company on the Effective Date without need for sending a written notification to the other Parties;

 

		(e)	on January 1, 2026, without need to send any notification by
either Party or take any further action;

 

		(f)	in relation to any Party when that party no longer holds any
Shares in the share capital of the Company;

 

		(g)	in case of breach of Article 3.3(c) and Article 5.1 by Investing
Shareholder, upon Class A Shareholder's written demand and at the end of the Remedy Period in Article 6.2.; or

 

		(h)	in case all the Class A Shares held by the Class A Shareholder
are reclassified as/ converted to Class B Shares as necessitated by this Agreement and/or Articles of Association, and the Class A Shareholder
no longer holds any Class A Shares.

 

    16 

     

    

 

		7.2	Effect of Termination

 

If this Agreement
is validly terminated pursuant to Article 7.1, this Agreement will forthwith become null and void, and there will be no liability or obligation
on the part of the Parties and the Company (or any of their respective officers, Directors, employees, agents or other representatives
or Affiliates), except as otherwise expressly provided in this Agreement. Notwithstanding any other provision in this Agreement to the
contrary, upon termination of this Agreement, the Parties will remain liable for one another for any breach of this Agreement by such
Party prior to such termination, and the appropriate Party pursuant to the foregoing may seek such remedies, including damages and attorney
fees, against the other Party with respect to any such breach as are provided in this Agreement, or as are otherwise available at law
or in equity.

 

		8.	Miscellaneous

 

		8.1	Entire Agreement

 

This Agreement and
all documents delivered as part of this Agreement; or, which are incorporated as part of this Agreement by reference, including, without
limitation the Articles of Association, constitute and contain the entire Agreement between the Parties and the Company and, replace in
its entirety any and all agreements, arrangements and understandings between the Parties with respect to the subject matter hereof.

 

		8.2	Notices

 

All notices, requests
and communications hereunder must be in writing and will be deemed duly given only if delivered by (i) e-mail or facsimile transmission
and (ii) sent by recognized international courier to the Parties and/or the Company at the following addresses, e-mails or facsimile numbers.

 

If to the Investing
Shareholder:

 

Address: Ferko Signature Plaza Esentepe
Mah. Buyukdere Cad. No:175 34394 Sisli / Istanbul

 

	 	Facsimile No: 	+90 212 291 52 23
	 	Attn: 	Erman Kalkandelen
	 	E-mail:	erman.kalkandelen@franklintempleton.com

 

If to the Contract Party Shareholders:

 

Address: Doğan
 Şirketler Grubu Holding A.Ş., Burhaniye Mah. Kısıklı Cad., No. 65 34676 Altunizade, Istanbul

 

	 	Facsimile No: 	+90 216 556 93 93
	 	Attn: 	Tolga Babalı
	 	E-mail:	tolgab@doganholding.com.tr

 

    17 

     

    

 

All such notices,
requests and other communications will; (i) if delivered personally to the address as provided in this Article 9.2, be deemed given upon
delivery; (ii) if delivered by e-mail, at the time of transmission; (ii) if delivered by facsimile transmission to the facsimile number
as provided in this Article 8.2, be deemed given upon receipt; and, (iii) if delivered by recognized international courier to the address
as provided in this Article 8.2, be deemed given upon confirmed receipt (in each case regardless of whether such notice, request or other
communication is received by any other Person to whom a copy of such notice is to be delivered pursuant to this Article 8.2). A notice
is not valid if sent by e-mail, unless within 1 (one) Business Day of the notice being sent by e-mail, the notice is also sent using
one of the other modes of communication set forth in this Article 8.2., in which case the notice will be deemed to validly sent at the
date of the e-mail.

 

Any Party from time
to time may change its address, facsimile number or any other information for the purpose of notifying that Party by written notice specifying
such change to the other Parties hereto.

 

		8.3	Publicity and Confidentiality

 

		(a)	Prior approval of announcements. Subject to Article 8.3(b), no disclosure or announcement relating
to the existence or subject matter of this Agreement shall be made or issued by or on behalf of any of the Shareholders or their respective
Affiliates or the Company without the prior written approval of the other Parties (which approval may be subject to reasonable conditions
but shall otherwise not be unreasonably withheld or delayed) provided that these restrictions shall not apply to any disclosure or announcement
if required by any law, applicable securities exchange, supervisory, regulatory or governmental body including Capital Markets Board of
Turkey or capital markets related regulations.

 

		(b)	Confidentiality. Each Party shall treat as strictly confidential and will not disclose any information
received or obtained by it or its officers, employees, agents or advisers as a result of entering into or performing this Agreement which
relates to:

 

		(i)	the provisions of this Agreement or any of the other documents entered into pursuant to this Agreement;

 

		(ii)	the negotiations leading up to or relating to this Agreement; or

 

		(iii)	any of the other Parties (or any of their respective Affiliates) or the Company,

 

provided that these
restrictions shall not apply to any disclosure of information if and to the extent the disclosure is:

 

		(A)	required by any law, regulation or order of court of any applicable jurisdiction;

 

		(B)	required by any applicable securities exchange, supervisory or regulatory or Governmental Authority to
which the relevant Party is subject or submits, wherever situated, whether or not the requirement for disclosure has the force of law;
made to the relevant Party's Affiliates or any of its or their employees, officers, representatives, agents, professional advisers, auditors
or bankers (together, the "Representatives") provided that such Representatives are made aware of the confidential nature
of such information and are subject to the terms of this Article 8.3 as if they were a party to this Agreement and that the disclosing
Party remains liable for any breach by any such Representatives of such terms;

 

		(C)	of information that has already come into the public domain through no fault of the relevant Party or
any of its Representatives;

 

    18 

     

    

 

		(D)	of information which was lawfully in the possession of that Party or any of its Representatives (in either
case as evidenced by written records) without any obligation of secrecy prior to its being received or held;

 

		(E)	required for the purpose of any arbitral or judicial proceedings arising out of this Agreement (or any
other related documentation);

 

		(F)	made to a potential purchaser of Shares (provided that such potential purchaser is not a Restricted Transferee)
and such potential purchaser agrees to be bound by written confidentiality obligations to the potential seller no less onerous than those
set out in this Article 8.3 (mutatis mutandis), a copy of which shall be provided to the other Parties to this Agreement prior to such
disclosure;

 

		(G)	in the case of the Investing Shareholder only, such disclosure is made to any other direct or indirect
investors (including those persons whom the Investor or any of its Affiliates reasonably believe are likely to become a direct or indirect
investor) in funds managed and advised by any of the Investing Shareholder's Affiliates, together with their directors, officers, advisors
or agents provided that such information is disclosed on a confidential basis and in a manner consistent with past practice; or

 

		(H)	made on a confidential basis to lending banks or other funding parties or prospective funding (whether
debt or equity) parties of the Investing Shareholder or any of its Affiliates for the funding of the acquisition of Shares by the Investing
Shareholder.

 

Any Party disclosing
confidential information pursuant to this Article 8.3 shall promptly notify the other Parties of such disclosure.

 

		8.4	Assignment; Successors and Assigns

 

		(a)	Other than to a Party's Affiliate to whom Shares have been transferred in accordance with the terms of
this Agreement, no interest of any Party to this Agreement may be assigned or otherwise transferred except with the prior written consent
of the other Party and is further subject to required government approvals.

 

		(b)	This Agreement shall be binding upon and inure to the benefit of the Parties, their successors and permitted
assignees.

 

		8.5	Waiver

 

Any term or condition
of this Agreement may be waived at any time by the Party that is entitled to the benefit thereof, but no such waiver shall be effective
unless in a written instrument duly executed by or on behalf of the Party waiving such term or condition. No waiver by any Party of any
term or condition of this Agreement, in any one or more instances, shall be deemed to be or construed as a waiver of the same or any other
term or condition of this Agreement on any future occasion. All remedies, either under this Agreement or by law or otherwise afforded,
will be cumulative and not alternative.

 

		8.6	Amendment

 

This Agreement may
be amended, supplemented or modified only by a written instrument duly executed by or on behalf of each Party.

 

    19 

     

    

 

		8.7	Governing Law

 

This Agreement shall
be governed by and construed in accordance with the laws of Turkey, without giving effect to any conflicts of laws and principles thereof
which would result in the application of the laws of another jurisdiction.

 

		8.8	Jurisdiction for Disputes

 

Any and all disputes,
controversies or claims between the Parties arising out of, relating to or in connection with this Agreement, including any questions
regarding its existence, construction, interpretation, validity, performance, breach or termination, which are not amicably resolved by
the Parties shall be finally and exclusively settled by arbitration administered by International Chamber of Commerce International Court
of Arbitration (the "ICC"), in accordance with ICC Rules of Arbitration (the "Rules") in effect at the
time of the arbitration, which rules are deemed to be incorporated by reference into this Article except as may be modified herein or
by agreement of the Parties. The arbitral tribunal shall consist of three arbitrators, all three of whom shall be lawyers. The Contract
Party Shareholders, on the one hand, and the Investing Shareholder, on the other, shall nominate one (1) arbitrator and deliver written
notification of such nomination to the other Party and to the ICC within thirty (30) days after delivery of a request for arbitration.
In the event a Party fails to nominate an arbitrator or deliver notification of such nomination to the other Party and to the ICC in a
timely manner, upon request of either Party, such arbitrator shall instead be appointed by the ICC within thirty (30) days of receiving
such request in accordance with the Rules. The two (2) arbitrators appointed in accordance with the above provisions shall nominate the
third (3rd) arbitrator and notify the Parties and the ICC in writing of such nomination within fifteen (15) days of their appointment.
If the first two (2) appointed arbitrators fail to nominate a third (3rd) arbitrator or notify the Parties and the ICC of that nomination
within this time period, then, upon request of either Party, the third (3rd) arbitrator shall be appointed by the ICC within fifteen (15)
days of receiving such request in accordance with the Rules. The third (3rd) arbitrator shall serve as chairman of the arbitral tribunal.
The place of arbitration shall be London, United Kingdom. The language of the arbitration shall be English. No arbitrator shall be an
Affiliate, employee, officer or director of either Party or of their respective Affiliates, nor shall any arbitrator have any interest
that would be affected in any material respect by the outcome of the dispute. The decision of a majority of the arbitrators shall be final
and binding on the Parties and their respective successors and assignees. The arbitral award shall not be subject to appeal. Among other
remedies otherwise available to them, the arbitrators shall be authorized to order the specific performance of any provisions contained
herein. Any award rendered by the arbitrators shall be final and binding upon the Parties, and enforcement upon such award, including
any costs of arbitration, may be entered in accordance with applicable law in any court having jurisdiction, provided, however, that all
rights of appeal or recourse to any court of law whatsoever are hereby excluded in relation to any arbitration or any award made herein.

 

		8.9	Interpretation

 

		(a)	If any provision contained in this Agreement or any other document executed in connection herewith is
or shall become invalid, illegal or unenforceable in any jurisdiction, the invalidity, illegality or unenforceability of such provision
in such jurisdiction shall not affect or impair the validity, legality or enforceability of (A) any other provision of this Agreement
or any such other document in such jurisdiction or (B) such provision or any other provision of this Agreement or any such other document
in any other jurisdiction.

 

		(b)	The Parties hereby acknowledge and agree that if there shall be at any time a conflict, misinterpretation
or discrepancy between this Agreement and the Articles of Association of the Company, the provisions
of this Agreement shall prevail among the Parties.

 

    20 

     

    

 

		(c)	This Agreement has been negotiated and executed in the English language. All certificates, reports, notices
and other documents and communications given or delivered pursuant to this Agreement shall be in the English language or accompanied by
an English translation thereof and the English version thereof shall govern for purposes hereof in any conflict with any non-English version
unless such document is required to be in the Turkish language by the applicable laws.

 

		(d)	No provision of this Agreement shall be interpreted against the interest of a Party merely because that
Party drafted the provision.

 

		8.10	Costs

 

Each of the parties
shall pay its own costs and expenses in connection with the negotiation, preparation and carrying into effect of this Agreement. Any stamp
tax payable in connection with the execution of this Agreement will be paid 50% by Contract Party Shareholders and 50% by the Investing
Shareholder.

 

		8.11	Further Assurance

 

		(a)	The Company and each of the Parties shall do and execute and perform all such further deeds, documents,
assurances, acts and things as may reasonably be required to give effect to the terms of this Agreement.

 

		(b)	The Parties covenant to and agree with each other that so long as this Agreement is in effect each of
them shall vote their Shares so as to give effect to the provisions of this Agreement and to the rights granted hereunder and under the
Articles of Association.

 

		8.12	Unlawful Fetter

 

		(a)	Notwithstanding any other provision of this Agreement, the Company shall not be bound by any provision
of this Agreement to the extent that for it to be so bound would constitute a breach of or is not permitted by the laws of Turkey, being
the country in which the Company is incorporated, or any other laws applicable to the Company, but any such provision shall remain valid
and binding as regards all other parties to which it is expressed to apply.

 

		(b)	Notwithstanding any other provision of this Agreement, the Directors shall not be bound by any provision
of this Agreement to the extent that for it to be so bound would constitute a breach of its fiduciary, good faith or other duties to the
Company.

 

		8.13	Damages, Remedies

 

The non-breaching
Party reserves its rights to claim damages or any other remedies (including, without limitation any remedies of specific performance or
injunctive relief) available under applicable law for all damages, losses, costs and expenses arising from or in connection with any breach
or anticipated breach of any of the terms of this Agreement by the Defaulting Party.

 

		8.14	Representative of the Contract Party Shareholders

 

The Contract Party
Shareholders hereby nominate HVDB ("Representative of the Contract Party Shareholders") for the performance and fulfillment
of the obligations arising from this Agreement including but not limited to the following:

 

		(a)	To execute the written notifications that will be issued pursuant
to Article 3 and to negotiate and resolve any conflicts that may arise in this respect; and

 

		(b)	To terminate the Agreement pursuant to Article 7.1;

 

Unless otherwise
notified in writing by a Contract Party Shareholder, the Investing Shareholder may rely and act upon any document that is delivered by
the Representative of the Contract Party Shareholders without conducting any independent research.

 

    21 

     

    

 

		8.15	Representations and Warranties

 

		(a)	The Investing Shareholder hereby represents and warrants to each other Shareholder that:

 

		(i)	It is a corporation duly incorporated, validly existing and in good standing under the laws of its respective
jurisdiction of incorporation;

 

		(ii)	It has full power and capacity to enter into this Agreement;

 

		(iii)	All corporate actions and other proceedings required to be taken by, or on behalf of, the legal entity
Shareholder to authorize it to enter into and to perform this Agreement have been duly and properly taken; and

 

		(iv)	The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby,
will not result in a breach of, or constitute a default under, the articles of association or the by-laws of the legal entity Shareholder,
or any agreement or instrument by which it is bound, or violate any law applicable to it.

 

		(b)	Each real person Shareholder hereby represents and warrants to the Investing Shareholder that:

 

		(i)	It has full power and capacity to enter into this Agreement; and

 

		(ii)	The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby,
will not result in a breach of, or constitute a default under any material agreement or instrument by which she is bound, or violate any
law applicable to it.

 

		8.16	Liability of the Class A Shareholder

 

The Investing Shareholder
hereby acknowledges and accepts that the Individual Shareholders have become party to this Agreement for purposes of terminating the Amended
and Restated Shareholders Agreement, and accordingly the Investing Shareholder shall in no event have a right to recourse to the Individual
Shareholders in relation to the obligations of the Class A Shareholders provided in this Agreement and thus shall not under any circumstances
recourse or make any claim from to the Individual Shareholders under this Agreement, or the applicable law.

 

The Class A Shareholder
shall be liable in respect of all her duties and obligations (and those of each Qualifying SPV) arising under, or in connection with,
this Agreement.

 

[signature page to follow]

 

    22 

     

    

 

Execution

 

IN WITNESS WHEREOF, the
Parties have caused this Agreement to be signed in 2 (two) originals in their respective names as of the date first above written;

 

CONTRACT PARTY SHAREHOLDERS

 

	Hanzade Vasfiye Doğan Boyner	 
	 	 
	By:	 	

     

 

	Vuslat Doğan Sabancı	 
	 	 
	By:	 	

     

 

	Yaşar Begümhan Doğan Faralyalı	 
	 	 
	By:	 	

     

 

	Arzuhan Doğan Yalçındağ	 
	 	 
	By:	 	

     

 

	Işıl Doğan	 
	 	 
	By:	 	

     

  

INVESTING SHAREHOLDER

 

	TurkCommerce B.V.
	Name:	 	 	 
	Title:	 	 	 
	 	 	 	 
	By:	

     
	 	

     

 

    23 

     

    

 

Schedule 3.04

 

Deed of
Adherence

 

THIS AGREEMENT is made on ___________

 

1- Hanzade Vasfiye Doğan Boyner, a Turkish
citizen with the Turkish ID number [●] and residing at the address of [●] (“HVDB)”;

 

2- TurkCommerce B.V., a private limited liability
company (besloten vennootschap met beperkte aansprakelijkheid), incorporated under the laws of the Netherlands, having its official
seat in Amsterdam and its registered office address at Amstelveenseweg 760, 1081JK Amsterdam (the “Investing Shareholder”);

 

(HVDB and the Investing Shareholder shall be severally
referred to as a “Party” and collectively as the “Parties”) and

 

3- [●] (the New Party)

 

WHEREAS:

 

(A)       On
_______, the Parties entered into a Shareholders Agreement governing their relationship as shareholders in D-Market Elektronik Hizmetler
ve Ticaret A.Ş. (the Company) and establishing the manner in which the affairs of the Company would be conducted (such
agreement as amended, supplemented or novated from time to time) (the Shareholders Agreement).

 

(B)       By
a transfer dated [●], [●] transferred to the New Party [●] Shares in the Company.

 

(C)       This
Agreement is entered into in compliance with Article 3.5 (Deed of Adherence) of the Shareholders Agreement.

 

NOW THIS AGREEMENT WITNESSES as follows:

 

1.         Words and expressions defined in the Shareholders Agreement shall, unless the context otherwise requires, have the same meanings
when used in this Agreement.

 

2.        The
New Party undertakes to be bound by and comply in all respects with the Shareholders Agreement, and to assume the benefits and obligations
of the Shareholders Agreement applicable to [Class A Shareholder] OR [the Investing Shareholder], as if the New Party had executed
the Shareholders Agreement [as[ the Class A Shareholder] OR [the Investing Shareholder]] and was named as a party to it.

 

3.        [In the case of the transfer to a Qualifying SPV, on or prior to the Qualifying SPV ceasing to be wholly-owned by [Hanzade Vasfiye
Doğan Boyner] OR [Qualifying Persons], the Qualifying SPV or its subsidiaries, undertake to transfer all of its shares back
to the Shareholder from whom it initially acquired such shares.]]

 

4.        [In
the case of the transfer to a Subsidiary of the General Partner, on or prior to the Subsidiary of the General Partner loses that status,
the Subsidiary of the General Partner undertakes to transfer all of its/his shares back to the Investing Shareholder from whom it/he
initially acquired such shares.]]

 

5.        The
New Party represents, warrants and undertakes to the Company and to each of the other Shareholders (and each other person who may
from time to time expressly adhere to the Shareholders Agreement) in the terms set out in Articles 9.14 (Representations and
warranties)] of the Shareholders Agreement, but so that such representations, warranties and undertakings shall be deemed to be
given on the date of this Agreement and shall be deemed to refer to this Agreement of Adherence as well as the Shareholders
Agreement.

 

    24 

     

    

 

6.        
The contact details of the New Party for the purpose of Article 8.2 (Notices) of the Shareholders Agreement shall be as
follows:

 

	Facsimile No:	[●]

 

	Attn:	[●]

 

	With copy to:	[●]

 

7.        This
Agreement and any non-contractual obligations arising out of or in connection with this Agreement shall be governed by and construed
in accordance with the laws of Turkey.

 

8.       
The provisions of Articles 8.7 (Governing Law) and 8.8 (Jurisdiction for Disputes)] of the Shareholders Agreement
shall apply to this Agreement.

 

    25 

     

    

 

 

IN WITNESS WHEREOF this
Agreement has been duly executed the day and year first above written.

 

CONTRACT PARTY SHAREHOLDERS

 

	Name:	 	 	 
	Title:	 	 	 
	 	 	 	 
	By:	

     
	 	

     

	 	 	 	 

 

[INVESTING SHAREHOLDER]

 

	Name:	 	 	 
	Title:	 	 	 
	 	 	 	 
	By:	

     
	 	

     

	 	 	 	 

 

NEW PARTY

 

	Name:	 	 	 
	Title:	 	 	 
	 	 	 	 
	By:	

     
	 	

     

	 	 	 	 

 

    26

    		

    

 

Schedule 4.01

 

Board
of Directors Reserved Matters in case of Article 4.1(b)(ii)

 

Any proposal to be discussed at a
Board of Directors' meeting in relation to the matters listed below:

 

		1.	Incurring financial indebtedness or off balance sheet liabilities exceeding 15% of the Company's previous year’s Total Revenues
or creating any interest, pledge or security in relation thereto.

 

		2.	Acquire any interest in any Related Party.

 

		3.	Dispose of any interest in any entity or create any interest, pledge or security over the same provided that (i) the enterprise value
of any such entity is equal to or exceeding 15% of the Company's previous year's Total Revenues, or (ii) the equity value of any such
entity is equal to or exceeding 15% of the Company's previous year's Total Revenues.

 

		4.	Issuance of any new and amendment or cancellation of any current management incentive plan or other employee benefit scheme, or granting
any management stock option.

 

		5.	Delegating powers to board committees and setting the quorum for such committees.

 

		6.	Approving, amending or terminating any internal policies and procedures: (i) in respect of anti-bribery and corruption; or (ii) that
are inconsistent with the Investing Shareholder "Business Principles and Environmental and Social Management System" attached
hereto as Schedule 4.02.

 

    

    		

    

 

Schedule 4.02

 

Business
Principles and Environmental and Social Management System

 

SOCIO – ENVIRONMENTAL UNDERTAKINGs
and prohibited activities

 

General Undertakings

 

The Company shall:

 

		(a)	Comply with all applicable local and national laws, regulations and agreements regarding environmental,
labor, health, and safety matters as they are amended and updated from time to time;

 

		(b)	Diligently carry out all responsibilities regarding reports, monitoring and verification and any other
commitment agreed upon with the FT Fund and relevant Governmental Authorities or regulatory authorities. The Company shall deliver to
the FT Fund an original copy of all environmental and social reports it makes in compliance with local regulation;

 

		(c)	Give notice to the FT Fund of any instance of non-compliance with the regulations listed in (a) above
and assume full responsibility regarding any real or alleged breach, including all possible corrective measures or actions required to
solve the situation. The Company shall also promptly notify the FT Fund: (i) of any claim, proceeding or investigation by a Person against
the Company in respect of an environmental or social law or regulation or an environmental or social permit or authorization, which has
or may reasonably have a Material Adverse Effect on the Company; and (ii) of the details of any actions proposed in order to remedy the
effects of these events or claims. The Company shall ensure that the FT Fund is updated regularly of any progress with respect to such
remedial action;

 

		(d)	Comply with (i) the IFC Performance Standards1
PS1: Social and Environmental Assessment and Management Systems; PS2: Labor and Working Conditions; PS4: Community Health, Safety and
Security (a summary of each of such IFC Performance Standards is set out in appendix 1 to this schedule); and (ii) the ILO Core Labor
Standards and ILO Basic terms and Conditions of Employment when applicable to the Company or its operations and where such requirements
are more rigorous than those established under any applicable national laws;

 

		(e)	In the case of any partial or complete subcontracting instance of works, the Company shall monitor and
supervise that the contracting parties also comply with all measures referring to occupational safety, labor conditions and labor rights,
environmental protection and emergency protocols, as well as all other national or internal standards, procedures or regulations;

 

		(f)	Develop and implement Social and Environmental Management Systems (“SEMS”), which are
acceptable to the FT Fund and comply with PS1: Social and Environmental Assessment and Management Systems;

 

		(g)	Designate and appoint one person as the environmental and social officer in charge of environmental and
social management and compliance;

 

Reporting and Inspections A representative
from the FT Fund may visit the premises of the Company at least twice a year. Furthermore, the Company shall provide all relevant information
on environmental, social and labor conditions and environmental mitigation measures to a representative of the FT Fund upon request.

 

 

1 Note: IFC Performance standards found at
http://www.ifc.org/wps/wcm/connect/c8f524004a73daeca09afdf998895a12/IFC_Performance_Standards.pdf?MOD=AJPERES

 

    

    		

    

 

The Company hereby agrees to provide:

 

		(a)	Monthly, quarterly and yearly financial and other KPI reporting regarding environmental, social and labor
conditions in a format (which will include segmental reporting by business lines and reporting in US$) that is reasonably requested
by Franklin Templeton Investments

 

		(b)	Reports to be delivered in electronic and paper format within 15, 25 and 45 days of month, quarter and
year ends

 

Business Practices: The Company undertakes
that it will carry on its business in a way that:

 

		(a)	is in accordance with these business practices, including the business integrity requirement to operate
in accordance with local laws and international good practice.

 

		(b)	provides safe and healthy working conditions for its employees and contractors;

 

		(c)	encourages the efficient use of natural resources and promotes the protection of the environment;

 

		(d)	treats all employees fairly in terms of recruitment, progression, remuneration and conditions of work,
irrespective of gender, race, color, language, disability, political opinion, age, religion or national/social origin;

 

		(e)	allows consultative work-place structures and associations which provide employees with an opportunity
to freely present their views individually and/or collectively to management in accordance with the principles of core ILO conventions;

 

		(f)	takes account of the impact of its operations on the local community and seeks to ensure that potentially
harmful occupational health and safety, environmental and social effects are properly assessed, addressed and monitored;

 

		(g)	upholds high standards of business integrity and honesty, and operates in accordance with local laws and
international good practice (including those intended to fight extortion, bribery and financial crime);

 

		(h)	promotes the use of quantified targets for occupational health and safety, environment, and social issues
and continuous improvement in relation to the Business;

 

		(i)	designs and operates its business according to local regulations or the appropriate guidelines published
by the World Bank;

 

		(j)	adopts the following minimum employment standards in accordance with internationally accepted good practice:

 

		o	not to use forced labor of any kind;

 

		o	not to employ children under 15;

 

		(k)	provides wages that meet or exceed industry or legal national minima and are sufficient to meet basic
needs;

 

		(l)	properly records, reports and reviews financial and tax information relating to its business;

 

    

    		

    

 

		(m)	ensures that no payment of value is made or received (in the form of compensation, gift, contribution
or otherwise) in the course of business in order improperly to induce preferential treatment for the company, its officers, shareholders
or employees or any member of its group of companies;

 

		(n)	reviews this policy annually to ensure its ongoing suitability and effectiveness; and that if the Company
is involved in industrial operations:

 

		(o)	complies with local regulations on occupational health and safety as an absolute minimum. Where there
is no local legal framework regarding occupational health and safety the Company shall take account of the recommendations of the following
two World Bank documents as amended or supplemented from time to time:

 

		(p)	complies with Occupational Health and Safety Guidelines for specific industries (issued September 1988);

 

		(q)	complies with Health and Safety Guidelines – General (issued September 1995); and that if the Company
has remote operations:

 

		(r)	ensures that employees have access to the basic services of water, health care and education wherever
possible and where no other facilities are available, adequate housing.

 

Prohibited Activities: The Company will
not engage in the following activities:

 

		(a)	production or activities involving harmful
or exploitative forms of forced labor2 child
labor. 3

 

		(b)	production of or trade in any product or activity deemed illegal under host country laws or regulations
or international conventions and agreements.

 

		(c)	production of or trade in any product or activity that contravenes any international conventions and agreements
to which the host country is a party, and which have the force of law in the host country;

 

		(d)	production of or trade in weapons and munitions, including paramilitary materials.

 

		(e)	gambling, casinos, and equivalent enterprises.
4

 

		(f)	trade in wildlife or wildlife products regulated under the Convention on International Trade in
                                                                 Endangered Species (CITES) of Wild Fauna and Flora.
                                                                 5

 

		(g)	production of or trade in radioactive materials.
                                                                 6

 

		(h)	production of or trade in or use of unbounded asbestos fibers.
                                                                 7

 

		(i)	commercial logging operations or the purchase of logging equipment for use in primary tropical moist forest.

 

 

2 Forced
labour means all work or service not voluntarily performed that is extracted from an individual under threat of force or
penalty.

3 Child
labor means the employment of children whose age is below the statutory minimum age of employment in the country of operation and
employment of children in contravention of International Labor Organization Convention No. 138 “Minimum Age Convention”
(www.ilo.org).

5 A
list of CITES species is available from websites of multilateral institutions such as ADB and IFC.

6 This
does not apply to the purchase of medical equipment, quality control (measurement) equipment, and any equipment where the FT Fund
considers the radioactive source to be trivial and/or adequately shielded.

7 This does not apply to the purchase and use of bonded
asbestos cement sheeting where the asbestos content is less than 20%.

 

    

    		

    

 

		(j)	production of or trade in products containing polychlorinated biphenyls (PCBs).
                                                                 8

 

		(k)	production, trade, storage, or transport of significant volumes of hazardous chemicals, or
                                                                 commercial-scale use of hazardous chemicals.
                                                                 9

 

		(l)	production of or trade in pharmaceuticals subject to international phase outs or bans.
                                                                 10

 

		(m)	production of or trade in pesticides/herbicides subject to international phase outs or bans.
                                                                 11

 

		(n)	production of or trade in ozone-depleting substances (ODS) subject to international phase-out.
                                                                 12

 

		(o)	drift net fishing in the marine environment using nets in excess of 2.5 kilometers long.

 

		(p)	production or activities that impinge on the lands owned, or claimed under adjudication, by indigenous
peoples, without full documented consent of such peoples.

 

		(q)	activities that violate Applicable IFC Policies.

 

		(r)	involuntary resettlement of people, households, firms or private institutions.
                                                                 13

 

		(s)	production, distribution or trade in pornography.

 

		(t)	transboundary trade in waste products14, except for non-hazardous waste destined for re-cycling.

 

 

8 A
group of highly toxic chemicals. PCBs are likely to be found in oil-filled electrical transformers, capacitors, and switchgear
dating from 1950 to 1985.

9 A
list of hazardous chemicals is available from websites of multilateral institutions such as ADB and IFC. Hazardous chemicals include
gasoline, kerosene, and other petroleum products.

10 A
list of pharmaceutical products subject to phase-outs or bans is available from websites of multilateral institutions such as ADB
and IFC.

11 A
list of pesticides and herbicides subject to phase-outs or bans is available from websites of multilateral institutions such as ADB
and IFC.

12 Chemical
compounds that react with and deplete stratospheric ozone, resulting in the widely publicized ozone holes. The Montreal Protocol
lists ODS and their target reduction and phase out dates. A list of the chemical compounds regulated by the Montreal
Protocol—includes aerosols, refrigerants, foam blowing agents, solvents, and fire protection agents, together with details of
signatory countries and phase out target dates—is available from websites of multilateral institutions such as ADB and
IFC.

13"Involuntary
resettlement" means any permanent or temporary impact on any people, households, firms or private institutions ("affected persons"),
being any of (a) an adverse effect on their standard of living, (b) their right, title or interest in any house, land (including residential,
commercial, agricultural, forest, and/or grazing land), water resources, or any other movable or fixed assets being acquired, possessed,
restricted or otherwise adversely affected, in full or in part, permanently or temporarily or (c) their business, occupation, place of
work or residential or habitat being adversely affected, with or without displacement, in each case as a result of any of (i) an acquisition
of land and other fixed assets (ii) a change in use of land or (iii) restrictions imposed on land in each case by the FT Fund.

14 As defined by Basel Convention. See www.basel.int

 

    

    		

    

 

Appendix 1

 

Summary of IFC Performance Conditions PS 1,
PS 2 and PS 4

 

Performance Standard 1: Assessment and Management
of Environmental and Social Risks and Impacts

 

The objectives of PS 1 are:

 

		(a)	to identify and evaluate environmental and social risks and impacts of the project;

 

		(b)	to adopt a mitigation hierarchy to anticipate and avoid, or where avoidance is not possible, minimize,
and, where residual impacts remain, compensate/offset for risks and impacts to workers, Affected Communities, and the environment;

 

		(c)	to promote improved environmental and social performance of companies through the effective use of management
systems;

 

		(d)	to ensure that grievances from Affected Communities and external communications from other stakeholders
are responded to and managed appropriately; and

 

		(e)	to promote and provide means for adequate engagement with Affected Communities throughout the project
cycle on issues that could potentially affect them and to ensure that relevant environmental and social information is disclosed and disseminated.

 

PS 1 is a process-orientated Standard and applies
to all fund managers and investee companies. It requires identification of environmental and social risks and impacts of a project, which
then determines which of the other PSs apply. This process broadly mirrors Franklin Templeton Investments’ procedures for screening
investments against HSES criteria in order to determine which HSES areas, if any, require further investigation. A PS 1 assessment results
in identifying the Standards that apply during the initial assessment phase. As operational conditions change—expansion, development
of new lines of business—new assessments against other Standards may be required.

 

Environmental and social assessments must address
all stages of the project cycle, identify disadvantaged groups affected by the project and the capacity of relevant third parties to fulfil
their commitments. An Action Plan to mitigate impacts, with a budget and milestones, should be prepared and publicly disclosed.

 

In addition to identifying and assessing the impacts
associated with a specific investment, a potential investee must establish a social and environmental management system appropriate to
the scale of the operations and the severity of the impacts identified, if such a system has not already been established. Not every investee
will require the same kind of system. A mining investment will clearly require more elaboration and detail than a telecoms operation.
But all ESMSs should have support from investee company management, demonstrated through the designation of staff members responsible
for the ESMS, appropriate training for all relevant employees and adequate resources. All ESMSs should contain a grievance mechanism and
procedures for public consultation, disclosure, and progress reporting.

 

Performance Standard 2: Labour and Working
Conditions

 

The objectives of PS 2 are:

 

		(a)	establish, maintain and improve the worker-manager relationship;

 

 

    

    		

    

 

		(b)	promote the fair treatment, non-discrimination and equal opportunity of workers, and compliance with national
labour and employment laws;

 

		(c)	compliance with national employment and labour laws;

 

		(d)	protect the workforce by addressing child labour and forced labour, migrant workers, workers engaged by
third parties and workers in the client’s supply chain; and

 

		(e)	promote safe and healthy working conditions and to protect and promote the health of workers

 

PS 2 establish requirements for labour management
practices and for the health and safety conditions in manufacturing or other businesses. Labour management practices are based on the
International Labour Organization (ILO) core labour principles already included in Franklin Templeton Investments Environmental and Social
Management System. PS 2 also requires investees to inquire into the labour practices of its contractors, especially where the contractors
are direct (not sub-contractors) and where the contractors perform “core” business functions. PS 2 recognizes that the client’s
influence over contractor or supplier labour practices is variable. Investees must inquire about child labour, including within its supply
chain, and take appropriate corrective measures.

 

Specific documentation is required. Every investee
must have an appropriate, written human resources policy which is communicated to employees. All investees must also document the working
terms and conditions of employees and direct contractors and provide these to employees and contractors. A company must develop a retrenchment
plan if it anticipates a significant number of redundancies. Where national law permits workers’ right to form a workers’
union, they should be allowed to do so without interference. In all cases, the investees should provide a grievance mechanism for workers
to raise workplace concerns.

 

With regard to employee health and safety, PS
2 requires clients to provide “a safe and healthy work environment”, taking into account inherent risks in its particular
sector and specific classes of hazards in the client’s work areas, including physical, chemical, biological, and radiological hazards.
This general requirement is supplemented by the revised Environmental, Health and Safety Guidelines.

 

Performance Standard 4: Community Health, Safety
and Security

 

The objectives of PS 4 are:

 

		(a)	to anticipate and avoid adverse impacts on the health and safety of the Affected Community during the
project life from both routine and non-routine circumstances; and

 

		(b)	to ensure that the safeguarding of personnel and property is carried out in accordance with relevant human
rights principles and in a manner that avoids or minimizes risks to the Affected Communities

 

PS 4 recognizes that the effects of an investment
may spill over its boundaries at anytime during the investment cycle. Infrastructure may be constructed to serve the investment. Changes
in land use can impact access to and quality of soil and water. The investment can change a community’s potential exposure to natural
hazards such as landslides and flood. The investment’s operations may affect the potential for outbreaks of communicable disease.
Contractor operations (vehicle traffic, for example) can create risks for Affected Communities. All potential risks to communities must
be identified, assessed, and either avoided or mitigated.

 

PS 4 also recognizes that some clients may use
private or government security forces. If such forces are used, a client must assess the associated risks and conduct appropriate and
documented background investigations. A client should also ensure that security personnel are trained adequately.

 

    

    		

    

 

Appendix 1

 

EBRD Anti-Corruption Guidelines

 

The purpose of these Guidelines
is to clarify the meaning of the terms "Corrupt Practices", "Fraudulent Practices", "Coercive Practices,"
and "Collusive Practices" in the context of the EBRD’s non-sovereign operations in favour of private sector projects.

 

1.           
CORRUPT PRACTICES

 

"Corrupt Practice"
means the offering, giving, receiving or soliciting, directly or indirectly, of anything of value to influence improperly the actions
of another party.  In implementing this definition, the EBRD will be guided by the following principles:

 

(a)         
The conduct in question must involve the use of improper means (such as bribery or kickbacks) by someone to induce another person to act
or to refrain from acting in the exercise of his duties, in order to obtain or retain business, or to obtain an undue advantage. 
Antitrust, securities and other violations of law that are not of this nature fall outside of the definition of Corrupt Practices but
may still be scrutinised under alternative procedures.

 

(b)         
It is acknowledged that foreign investment agreements, concessions and other types of contracts commonly require investors to make contributions
for bona fide social development purposes or to provide funding for infrastructure unrelated to the project. Similarly, investors are
often required or expected to make contributions to bona fide local charities.  These practices are not viewed as Corrupt Practices
for purposes of these definitions, so long as they are permitted under local law and fully disclosed in the payer's books and records.
Similarly, an investor will not be held liable for corrupt or Fraudulent Practices committed by entities that administer bona fide social
development funds or charitable contributions.

 

(c)          
In the context of conduct between private parties, the offering, giving, receiving or soliciting of corporate hospitality and gifts that
are customary by internationally-accepted industry standards shall not constitute Corrupt Practices unless the action violates applicable
law.

 

(d)         
Payment by private sector persons of the reasonable travel and entertainment expenses of public officials that are consistent with existing
practice under relevant law and international conventions will not be viewed as Corrupt Practices.

 

(e)         
The EBRD does not condone facilitation payments whether they are criminalised or not.   Such payments, which are illegal in
most countries, are dealt with in accordance with relevant local laws and international conventions.

 

2.           
FRAUDULENT PRACTICES

 

"Fraudulent Practice"
means any action or omission, including misrepresentation, that knowingly or recklessly misleads, or attempts to mislead, a party to obtain
a financial benefit or to avoid an obligation.  In implementing this definition, the EBRD will be guided by the following principles:

 

(a)         
An action, omission, or misrepresentation will be regarded as made recklessly if it is made with reckless indifference as to whether it
is true or false. Mere inaccuracy in such information, committed through simple negligence, is not enough to constitute a "Fraudulent
Practice".

 

(b)         
Fraudulent Practices are intended to cover actions or omissions that are directed to or against the EBRD.  The expression also covers
Fraudulent Practices directed to or against an EBRD member country in connection with the award or implementation of a government contract
or concession in a project financed by the EBRD.    Frauds on, or other illegal behaviour directed against, other third
parties are not condoned.   Such behaviour may represent an impediment to doing business with EBRD.

 

    

    		

    

 

3.           
COERCIVE PRACTICES

 

"Coercive Practice"
means impairing or harming, or threatening to impair or harm directly or indirectly, any party or the property of the party to influence
improperly the actions of a party.  In implementing this definition, the EBRD will be guided by the following principles:

 

(a)         
Coercive Practices are actions undertaken for the purpose of bid rigging or in connection with public procurement or government contracting
or in furtherance of a Corrupt Practice or a Fraudulent Practice.

 

(b)         
Coercive Practices are threatened or actual illegal actions such as personal injury or abduction, damage to property, or injury to legally
recognizable interests, in order to obtain an undue advantage or to avoid an obligation. It is not intended to cover hard bargaining,
the exercise of legal or contractual remedies or litigation in such implementation.

 

4.           
COLLUSIVE PRACTICES

 

"Collusive Practice"
means an arrangement between two or more parties designed to achieve an improper purpose, including influencing improperly the actions
of another party.  In implementing this definition, the EBRD will be guided by the principle that Collusive Practices are actions
undertaken for the purpose of bid rigging or in connection with public procurement or government contracting or in furtherance of a Corrupt
Practice or a Fraudulent Practice.

 

5.           
GENERAL

 

In implementing the foregoing
definitions, the EBRD will be guided by the principle that a person should not be liable for actions taken by unrelated third parties
unless that person has participated in the prohibited act in question.Exhibit 10.2

 

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED
AND REPLACED WITH “[***].” SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (i) NOT
MATERIAL AND (ii) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF DISCLOSED.

 

LEASE AGREEMENT

 

		1.	THE
                                            PARTIES OF THE AGREEMENT

 

	1.1.	LESSOR	:	A.Vedat
                                            Yakupoğlu Gayrimenkul Yatırımcılığı

 

		Address 	:	Cumhuriyet
                                            Mah. Selanik Cad. Çorapçı Kalabalık İş Hanı No:20/6
                                            Çankaya/Ankara

 

	 	Tax number	:	46453290384

 

	1.2.	LESSEE	:	D-Market
                                            Elektronik Hizmetler ve Ticaret A.Ş.

 

		Address 	:	Kuştepe
                                            Mah.Mecidiyeköy Yolu Cad. No: 12 Şişli/İstanbul

 

	 	Tax number	:	Kağıthane Tax Office / 2650179910

 

	 	Contact information	:	(0850)
    252 40 00 (Hereinafter referred to as “D-MARKET”)

 

		2.	SUBJECT AND SCOPE OF THE AGREEMENT

 

Subject
and scope of this lease agreement is the rental of 11,000 m2 indoor area + 6000 m2 outdoor
area (front garden, parking place, roads) on 16,622 m2 plots included in Annex-1 General layout
plan of the Lessor at Ankara Province Kazan District 3287 Block 2 Parcel by D-MARKET as a workplace for 5 years.

 

The
general layout plan of the area to be used by D-MARKET together with the buildings and ancillary services as technical office,
warehouse, test workshop, Construction, mechanical and electrical works technical specifications, floor plans are specified in
detail in the annex of the agreement (Annex-1 to Annex-8) with the requested delivery dates in accordance with the project of the interior
construction works.

 

The visual state of the leased property before the renovation
and the visual state after the renovation and construction works to be made by the LESSOR in accordance with the project prepared
by D-MARKET shall be photographed separately by D-MARKET and shared with the LESSOR.

 

		3.	TERM OF THE AGREEMENT

 

The term of this agreement is 5 (five) years between 01.09.2020
- 01.09.2025.

 

     

     

    

 

At the end of the lease period, if D-MARKET gives
a written notification 3 (three) months before the expiry of the agreement, the lease agreement shall be deemed renewed for 1 (one) year
under the same conditions.

 

		4.	TERMINATION OF THE AGREEMENT

 

		4.1.	D-MARKET may terminate the lease agreement at any time within 5 (five) years of rental by giving 3 (three) months’ written
notice.

 

		5.	RENTAL FEE AND PAYMENTS, OTHER LIABILITIES

 

		5.1.	The monthly rent of the leased property is [***] per month. There will be no increase in the rental fee until the end of the first
1 (one) year rental period.

 

		5.2.	The LESSOR shall complete all renovation and infrastructure works including electrical, construction and mechanical matters agreed
between the Parties and detailed in ANNEX-1 until 01.09.2020, which is the commencement date of the lease agreement.

 

		5.3.	In the event that D-MARKET cannot actually enter the leased property until 01.09.2020, D-MARKET’s lease payment obligation shall
commence after the expiry of 1 (one) month period from the actual entry of D-MARKET to the leased property.

 

		5.4.	If the leased property is not delivered in accordance with Article 6.2 of the agreement for a reason arising from the LESSOR,
the rental price shall not be charged.

 

		5.5.	At the beginning of the lease agreement, if these modifications and construction works specified in detail in the annex of the agreement
(Annex-1 to Annex-8) to be completed by the LESSOR in accordance with the project and delivered on the specified dates (Annex-1
to Annex-8) cannot be done on time for a reason arising from the LESSOR and if modifications and constructions are stopped before completion,
D-MARKET shall not be obliged to pay the rental price of the leased property until the renovation and construction works are completed
by the LESSOR.

 

		5.6.	At the end of each agreement year, the annual rent fee increase rate shall be determined by increasing the mutually agreed rate in
writing so as not to be more than the increase rate in the producer price index (12-month average).

 

		5.7.	The invoice for the monthly rent fee shall be issued by the LESSOR until the 25th of each month and delivered to D-MARKET.
Payments shall be made by D-MARKET within the first 10 (ten) days of the following month on the payment day which corresponding to Thursday
to the LESSOR’s bank account with the following information. Thursdays are the payment day of D-MARKET.

 

LESSOR’S:

 

Bank / Branch: [***]

 

IBAN: [***]

 

     

     

    

 

		6.	SPECIAL TERMS OF THE AGREEMENT

 

		6.1.	Construction and Renovation costs

 

Within the scope of Article 321 of the Turkish Code
of Obligations No. 6098, the general layout plan, construction-mechanical and electrical works technical specifications and floor
plans specified in detail in the annex of the agreement (Annex-1 to Annex-8) and the construction works of D-MARKET shall be carried
out by the LESSOR in accordance with the provisions of the legislation in force, the project in the annexes of the agreement and
the construction permit and the building permit. The written consent of the LESSOR for these works has been given together with
this lease agreement and it has been declared, accepted and committed by the parties that the consent of the LESSOR is not required.

 

Renovation and construction costs to be made by the LESSOR
and requested by D-MARKET to be made in accordance with the project prepared inside and outside the area to be used as a technical
office, warehouse and test workshop in the immovable subject to the lease are included in the lease price.

 

		6.2.	Permits and necessary documents related to the immovable property subject to lease

 

The
LESSOR shall deliver the title deed registration, workplace license, settlement and zoning permit specified in Annex 8 of
the immovable property subject to the lease, being registered as a workplace in the land registry and zoning, completing the electric-natural-gas-water
installation, procurement approval procedures and related documents to it to D-MARKET free from all kinds of defects before the start
date of the lease agreement, and shall not process the rental price if the delivery is not made in accordance with this article.

 

		6.3.	Maintenance, repair and construction works

 

If the immovable property needs to be repaired during the
rental period other than the renovation and construction works to be carried out by the LESSOR within the scope of the project prepared
by the D-MARKET in the annex of the agreement and related to its own use, or if a third party claims on it, D-MARKET shall notify the
LESSOR about the situation. The LESSOR is obliged to carry out this repair.

 

All kinds of maintenance, repair and modification expenses
that are not notified by the LESSOR whether they can be fulfilled within 24 hours after the notification made to the LESSOR and are not
performed within the period agreed by the parties shall be paid to D-MARKET by the LESSOR or deducted from the rental price.

 

		6.4.	Usage related expenses and liability

 

Water, Electricity, Natural Gas, Gas, Fuel, security
guard, signboard expenses shall be borne exclusively by D-MARKET since the leased property is actually started to be used by
D-MARKET. However, these and all similar debts arising before the date of the lease agreement belong to the LESSOR. THE LESSOR
accepts, declares and undertakes that he/she will not claim any rights/receivables from D-MARKET before the rental date and that
he/she will not request any fee from D-MARKET. D-MARKET reserves the right to recourse all damages arising from debts arising before
the lease agreement to the LESSOR. The LESSOR shall immediately cover the damages incurred by D-MARKET at the
first request.

 

     

     

    

 

All kinds of taxes, duties and fees arising from the ownership
of the immovable shall be made by the LESSOR and the payment of the ones dependent on use shall be made by D-MARKET.

 

		6.5.	Prohibition of transfer and annotation to the title deed

 

The LESSOR accepts, declares and undertakes that he/she
will not transfer and sell the immovable property to third parties during the lease agreement (including the renewal in accordance with
the law or the agreement by parties), and in case the transfer is inevitable, he/she will receive the written approval of D-MARKET and
also ensure the continuation of the existing lease agreement with the new owner.

 

This lease agreement shall be annotated to the title deed
at the expense of the LESSOR. The lease agreement will only enter into force after this annotation process. The annotation placed on the
title deed can only be removed if the rental period expires.

 

		6.6.	Insurance

 

A building and property damage insurance policy in the
amount of at least [***], which is fire financial liability insurance coverage and has no recourse against D-MARKET, shall be made by
the LESSOR to cover all risks and damages, including landslide, earthquake, flood, storm, lightning, hail, internal water, vehicle crash,
natural disasters, theft, terrorism and malicious acts, and the LESSOR shall submit a copy of the insurance policy to D-MARKET within
7 days following the signing of the agreement.

 

During the renovation and construction works prepared by
D-MARKET and requested to be carried out in accordance with the project in the annex of the agreement, an employer financial liability
insurance policy of at least [***]/per individual, [***]/per incident shall be taken out for the personnel of the LESSOR and/or
the subcontract or personnel of the LESSOR who undertake these renovation and construction works in order to cover all kinds of
damages, losses, compensation etc. risks and losses and the D-MARKET’s employees to control the construction and renovation works
in the leased property.

 

In
addition, during the subject renovation and construction works, a 3rd Party Financial Liability
Insurance policy in the amount of at least [***] per incident and a copy of the policy will be submitted to D-MARKET within 7 days following
the signing of the agreement, which is considered as the 3rd party by the LESSOR against all kinds
of damage, loss, compensation etc. risks that may occur in the property and person of 3rd parties.

 

During the lease period, D-MARKET shall make a workplace
insurance policy with financial liability coverage for vehicles, commodities, machinery, fixtures, fixed decoration and installations
made by D-MARKET on the land belonging to the LESSOR and in the areas subject to the lease agreement and used by D-MARKET.

 

     

     

    

 

		6.7.	The leased property shall be made available to D-MARKET Group companies, suppliers and sub-employers by D-MARKET.

 

		6.8.	The leased property shall be delivered as is at the end of the lease period without any modification/repair or similar construction
work. D-MARKET has no obligation to restore the leased property.

 

		6.9.	The Stamp Tax arising from this lease agreement shall be paid equally by the Parties. D-MARKET shall pay the stamp tax in full and
invoice half of the amount paid to the LESSOR.

 

		6.10.	The provisions of the Code of Obligations No. 6098 shall apply in this agreement.

 

		6.11.	In the settlement of disputes that may arise between the parties in relation to this agreement Ankara Courts and Enforcement Offices
are authorized and the applicable law is Turkish law.

 

		6.12.	The parties have accepted the above-mentioned addresses as their legal notification addresses. Unless the address changes are duly
and in writing notified to the other party, the notifications to be made to the last notified address shall be deemed to have been notified
to the relevant party. On the other hand, in the notifications to be made between the parties via the corporate e-mail addresses written
above, the notification sent shall not be valid unless it is confirmed that it has been received by the other party. In case the phone
numbers written above, the relevant person (s) and e-mail addresses change, these changes shall be notified to the other party in
writing immediately.

 

		7.	CONFIDENTIALITY

 

The LESSOR shall not disclose the information regarding
the terms, conditions and status of the agreement to the public and shall not allow them to be disclosed by its personnel without the
prior written consent of D-MARKET. The LESSOR accepts all kinds of legal and financial responsibilities due to the actions
and discourses contrary to this confidentiality article. In addition, D-MARKET accepts the recourse of the responsibilities and
penalties to D-MARKET within the scope of the relevant legal regulations other than any damages and losses.

 

		8.	ANNEXES

 

This agreement consists of the following 14 (fourteen)
annexes, and these annexes are an integral part of the agreement.

 

     

     

    

  

ANNEX-1: Modification
and Infrastructure Works List

 

 

 

     

     

    

 

ANNEX 2: General
layout plan

 

     

     

    

 

ANNEX 3: Technical
office (Block A) layout plan

 

     

     

    

 

 

     

     

    

 

 

     

     

    

 

ANNEX
4: Test Workshop and Warehouse (Block E) layout plan

 

ANNEX
5: Service channel details

 

ANNEX
6: Warehouse (Block D) layout plan

 

ANNEX
7: Warehouse (Block C) layout plan

 

 

     

     

    

 

ANNEX
8: Construction-mechanical and electrical works technical specification

 

ANNEX
8- CONSTRUCTION-MECHANICAL AND ELECTRICAL WORKS TECHNICAL SPECIFICATION

 

NOT
APPLICABLE

 

     

     

    

 

 

ANNEX
9: The qualifications of the immovable subject to lease, title deed, workplace license, settlement
and zoning permit, registration as a workplace in the land registry and zoning, electricity-natural gas-water installation, procurement
approval procedures

 

Province
District Neighborhood Village Street LocationANKARA KAHRAMAN KAZAN SARAY (I)Sale priceREPUBLIC OF TURKEY TITLE OF DEEDSheet No. Plot
No. Parcel No.PhotoSurface area ha m2 dm25,700,000.003287 216,622.00 m2QualityLimitReason forFactory Warehouse and Land PlanGround
System No: 79224417 While 1⁄4 share is registered on behalf of ALİ İHSAN SATIRLAR, son of [***]; while 1⁄4 share
is registered on behalf of the EKREM SATIRLAR, son of [***], while 1⁄2 share isAcquisiti registered on behalf of the ABDİL
VEDAT YAKUPOĞLU, son of [***] and from the saleon Ownertransaction on behalf of the ABDİL VEDAT YAKUPOĞLU SELAHATTİN
ABDİL VEDAT YAKUPOĞLU, Son of [***] FullIncomeVolume NoDocument No3960Volume No46Page No.4559Sequ ence No.Date25/04/2017OutcomeVolume
NoPage No.Sequence No.DateSuitable for registry CELAL ÖZTÜRK Title Deed Manager /s/ Title Deed Manager NOTE: * The property
must apply to the title deed registry for in-kind rights and annotations. ** In accordance with the provisions of the Notification Law,
the address change will be notified to the relevant Title Deeds Registry Office.Page No. Sequence No.DateDMO Editorial Director Published
by the Revolving Fund. [ ][ ][ ][ ][ ] Stock No 129

 

     

     

    

 

	
	
OCCUPANCY PERMIT
Certificate of permission for use of bullding    127214948
Barcode / Data Matrix:
1. Issued By: KAHRAMANKAZAN MUNICIPALITY 9.Purpose of issuance of the document
[] Partial Use Permission [X] Occupancy Permit [ ] Temporary
10. Date of approval of the
certificate
October 02, 2020
11. Document number
2020/99 2. Address of the occupancy
Province: ANKARA District: KAHRAMANKAZAN
Village: ...................  Municipality: KAHRAMANKAZAN MUNICIPALITY
Neighborhood: SARAY Neighborhood identification code: 26
Street / Boulevard / Square / Group name: 222 CAD.
Street / Boulevard / Square / Group identification code: 336 External door no: 9
Site name: ............................................... ..................... Building ID No: 706150893
12. License based on the document
[X] 1. New building [   ] 2. Renovation [   ] 3. De novo [   ] 4. Additional Building [   ] 5. Floor Addition [   ] 6. Addition
[   ] 17. Temporary
[   ] 8. Renovation [   ] 9. Filling [   ] 10. Restoration [   ] 11. Reinforcement [   ] 12. Usage change [   ] 13. Septic
tank
[   ] 14. Mechanical installation [   ] 15. Electrical installation [  ] 15. Name change [  ] 17. Supporting wall [   ] 18. Garden wall [   ] 19. ..............
13. Date of first building
license
25.07.2018
14. First building license no
2018/138
15. Last building license date
__/__/____
16. Last building license no 17. Date of renewal license
__/__/____
18. Re-license date
__/__/____
19. Date of amendment permit
__/__/____
20. Development plan
approval date
09.05.2008
21. Zoning status date
05.05.2015
22. Zoning status no
2015/87 3. Sheet No:
429D.18D.01D
4. Plot No
3267
5. Parcel No:
2
6. Block No:
23. Date of soil survey approval
25.05.2016
24 EIA report approval date
__/__/____
25.Date of title deed registration
certificate
25.09.2020
26. Title deed registration certificate no
3960
Independent section with a license for
partial use
8. Independent section number for which a
partial use permit has been obtained
27.The institution that issued the title
deed registration certificate
DIRECTORATE OF LAND REGISTRY
OF KAHRAMANKAZAN
28. Parceling plan approval date
27.04.2012
29.The purpose of using parceling
INDUSTRY AND STORAGE AREA
30. Area of the parcel (m2)
16622

Building Owner's Building Contractor's Site Chief's
31. Name, surname, title. TR ID Number
ABDİL VEDAT YAKUPOĞLU, [***]
[X] Private
[  ] Public
[  ] Foreign
36. Name Surname / Title. TR ID number
ABDİL VEDAT YAKUPOĞLU, [***]
46. Name, surname, title
BURAK UÇAR, CIVIL ENGINEER
37. Chamber registration number
ATO: 401545
47.Turkish identity number
[***]
2. Name of tax office to which it is affiliated
 ÇANKAYA TAX OFFICE 38. Name of tax office to which it is affiliated
 ÇANKAYA TAX OFFICE
39. Tax identification number
9290014358
48. Chamber registration number
79449 Tax identification number
290014358 40. Insurance
registration number
---
41. Contract date
__/__/____
42. Contract number 43. Building contractor authorization document
number
0006120090206010
49. Insurance
registration number
--
50. Contract date
7.06.2018
51. Contract number
27525 4. Address
[***]
35.Signature
/s/ ABDİL VEDAT
YAKUPOĞLU 44. Register based address
[***]
45. Signature
/s/ ABDİL VEDAT YAKUPOĞLU
52. Address
[***]
53.Signature
/s/ BURAK UÇAR

Features Related to the Amended Sections of the Document  Building-Related Features
4. Independent sections and common areas of the
building according to the purpose of use
55. Number of
independent sections
56. Surface area
(m2)
 57.The number of
similar buildings
1
58. Number of independent
sections in the building
1
59. Number of residential units
(apartments) in the building
60. Floor area of the building (m2)
10624.6
61. Building Construction Area (m2)
11440.59
251 - Industry 1 11360.69
 62. Total number of
buildings
1
63. Total number of
independent sections
1
64. Total number of residential units
(apartments)
65. Total floor area (m2)
10624.6
66. Total building construction area
(m2)
11440.59 305 - Common Area (Shelter)

79.9

 67.The number of floors of the building's
branchroad
68.The number of floors above the building's
branch road
3
69.The total number of floors of the
building
3
70. Number of additional floors

    71. The height of the branch road of the
building (m)
72. Branch road height of the building (m)
10.3
73.The total height of the building
10.3
74. Additional floor height (m)

 75.Class of building
III
76. Building Group
A
77. Cost of 1 m2
(TRY)
1100
78.Cost of the building
(TRY)
12584649
79. Land value of the
building (TRY)
1035000
80.Cost of the building
including land (TRY)
13619649
81.The cost of the part for
which the form is prepared
(TRY)
12584649 Total: 1251-Industry 1 11440.59

Technical Features of the Building
67.Heating System 68. Installations 69.Common Usage Areas 90. Structure Carrier System
[  ] 1. Central heating [  ] 2. Indoor heating [  ] 3. Floor heating [  ] 14. Stove
[  ] 5. Natural gas stove [  ] 6. Air conditioner [X] 7. NONE
[  ] 1. Treatment
[  ] 2. Base station
[  ] 3. Natural gas
[X] 4. Electronic
[  ] 5. Communication
[X] 6. Dirty water
[X]. Clean water
[X] 8. Booster
[  ] 9. Generator
[  ] 10. Lightning rod
[X] 11. Fire installation
[  ] 12. .............................
[  ] 1. Elevator
[  ] 2. Security building
[X] 3 Parking lot
[  ] 4. Indoor Parking
[  ] 5. Housekeeper's Flat
[  ] 6. Coal bunker
[  ] 7. Common warehouse
[X] 8. Shelter
[X] 9. Water tank
[  ] 10. Fire escape
[  ] 11. Swimming pool
[  ] 12 ...........................
[  ] 11 Reinforced Concrete  [  ] 1.1.1. Framed system
[  ] 1. Framework (Carcass)  [  ] 1.2 Wooden [  ] 1.1.2 Framing system
[  ] 1.3. Steel [  ] 1.1.3. Framed + Curtain system
[  ] 2. Masonry [X] 3. Prefabricated [  ] 4 New prefabs [  ] 5. Combined
Fuel Type Used for Heating Purposes
[  ] 1. Solid fuel [  ] 2. Fuel-oil      [  ] 3. Natural Gas [  ] 4. LPG [  ] 5. Electricity
[  ] 6. Sun [  ] 7 Thermal [  ] 8. Wind [X] 9. NONE
Hot Water Supply Method 85.Hot Water Fuel Type
91. Type of Wall Filler 92. Flooring
[  ] 1. Thermosiphon   [  ] 2. Water heater
[  ] 3. Solar collector   [  ] 4. Boiler
[  ] 5. Joint
[X] 6. NONE
[  ] 1. Natural gas [  ] 2.LPG
[  ] 3. Feel-oil [  ] 14. Electricity
[  ] 5. Solid Fuel [   ] 6.Thermal
[X] 7. NONE
[  ] 1. Briquette [  ] 2. Brick
[  ] 3. Stone [  ] 4. Wooden
[  ] 5. Adobe brick [  ] 6. Aerated concrete
[  ] 7. Concrete block [X] 8. Light panel
[  ] 9. ......................................................................................
[  ] 1. Plate beam
[  ] 2. Cork carpet
[  ] 3. Asmolen
[  ] 4. Wooden
[X] 5. Ready-made building element
[  ] 6. ........................................
Drinking water
[  ] 1. City water     [  ] 2. Well water
[  ] 3. Spring water [X] 4. Potable
water
87. Waste water
[  ] 1. Sewer [X] 2. Septic tank

In order for the Partial Use Permit to be issued to the parts of the building that can be used partially, the common areas that serve these sections must be completed and usable. Buildings and/or independent sections that are not authorized to use cannot
benefit from electricity, water, sewage, communication, natural gas, etc. The basement floors buried in the ground, the common areas of the building except the housekeeper's apartment and the areas not determined in the project cannot be residential.
Storages connected to independent sections, coal cellar, independent section to which it is connected, electricity, water etc. services are utilized. Provided that the inspection and inspection of mechanical and electrical installations are carried out,........
apartments, ......... shops or (other uses) all of them benefit from the municipal service.
Building Occupancy Permit Given for the Finished Parts of the Building
Document date 94.Document number 95. Block no 96. Independent section no
__/__/____
__/__/____
__/__/____
__/__/____

Features related to the building
 97. Number of rooms including living room of the building
TOTAL
1 2 3 4 5 6 7+
98. Number of Apartments
0
99. Number of apartments with parquet
0
100. Area meter of an apartment
0
 

	
	Building Inspection
 101. Name Surname 102. TR ID number 103. Chamber registration number 104. Address 106.Signature
Architectural
ENGINEER OF RECORD

 İSMAİL ONUR KUKUL [***] [***] [***] /s/ İSMAİL ONUR KUKUL
Static SALİM KÜTÜKÇÜOĞLU [***] [***] [***] /s/ SALİM KÜTÜKÇÜOĞLU
Electricity MUAMMER TAŞ [***] [***] [***] /s/ MUAMMER TAŞ
Mechanical installation HABİB BEĞLİ [***] [***] [***] /s/ HABİB BEĞLİ

Building Inspection Organization
106. Name of the organization
ESEN YAPI DENETİM LTD. ŞTİ.
107. Name and surname of the authorized person, TR
ID number:
 İSMAİL KIRIKAYA, [***]
108. Tax identification number
3780354321
110. Adress
[***]
111.Signature

/s/ HABİB BEĞLİ
109. Permit certificate number
and class
602

Architectural Project Designer
112. Name surname
MUSTAFA ARIÖZ
113.TR ID number
[***]
114. Chamber registration number
[***]
115. Address
[***]
116.Signature
/s/ MUSTAFA ARIÖZ

Energy Identity Certificate (EKB) Information
117. EKB no 118.Company / Organization name 119. EKB expert name and surname 120. EKB expert certificate no. 121. Energy Performance class 122. Line gas emission class

Sustainable Green Building (GB) Information (If applicable)
123 YB certificate no 124. Name of organization issuing YB certificate 125. Authority number of the institution issuing the YB
certificate
126. Sustainable green building certification class

Building Occupancy Permit Fee 127. Value (TRY)
13960
128.Date of receipt
24.09.2020
129. Receipt number
429697
130.Other Issues
IT HAS BEEN REGULATED ACCORDING TO THE BUILDING LICENSE DATED 25.072018 AND NO 2018/138 OF THE DIRECTORATE OF ZONING AND CONTRACTING OF KAHRAMANKAZAN MUNICIPALITY.
IT HAS BEEN GIVEN FOR THE ENTIRE BUILDING WITH 11440,59 M2 CONSTRUCTION AREA ON THE 3287 BLOCK AND 2 PARCEL OF THE SARAY NEIGHBORHOOD.
IT HAS BEEN GIVEN WITH THE CLEARANCE CERTIFICATE DATED 24.09.2020 AND NO 62154362-202.01.02-E.11397296 OF THE HEAD OF SSI, KAHRAMANKAZAN ŞEHİT ALİ İHSAN LEZGİ SOCIAL SECURITY CENTER.
IT HAS BEEN GIVEN ACCORDING TO THE COST COLLECTION LETTER DATED 15.09.2020 AND NO 2020091503EAX0000127 OF THE KAHRAMANKAZAN TAX OFFICE.
NOT THAT THE BUILDING IS CONSTRUCTED IN ACCORDANCE WITH ITS LICENSE, ANNEX-APPROVED PROJECTS, DOCUMENTS, MANDATORY STANDARDS, SCIENCE AND ART RULES. AS THE BUILDING IS THE BUILDING WHICH IS
CONDUCTED THE OPERATION AND PRODUCTION ACTIVITIES IN THE INDUSTRIAL AREAS OF KALOHLUBI WITH THE WRITTEN DECLARATION OF THE BUILDING INSPECTION COMPANY, THE ENERGY IDENTITY CERTIFICATE (EIC)
WAS NOT OBTAINED.
IN THE BUILDING, THERE ARE 79.90 M2 SHELTER AND 1238.80 M2 PORCH.
THE BUILDING WILL BE USED AS A  MANUFACTURING CENTER.

Upon the application of the building owner dated 24.09.2020, all parts of the building, including the independent sections made with the Building Permit with the date and number written above, the features of which are specified and the use of which are
granted sections, have been examined, it has been determined that it is in compliance with the Zoning Law, the Legislation on Building Inspection, the Zoning Plan, regulations, the Permit and its annexes, scientific and technical rules, Turkish Standards, the
provisions of the Building Permit and that it is not considered unfavourable in terms of science and health, and their signatures have been obtained and the CONFIDENTIAL DOCUMENT for BUILDING USE has been given in accordance with the Zoning Law
No. 3194 and the Legislation on Building Inspection. Granted Permit shall not relieve the building owner and other responsible persons from any liability arising from violations of the Law, License and its annexes and from any obligation to pay taxes, duties
and fees.

Technical Staff Inspecting the Building Location
131. Name, surname, title, TR identity number, signature, date
AHMET KELEŞ
MACHINE TECHNICIAN
[***]
/s/ AHMET KELEŞ
132. Name, surname, title, TR identity number, signature, date
RABİA AYRANCI
GEOLOGICAL ENGINEER
[***]
/s/ RABİA AYRANCI
133. Name, surname, title, identity number, signature, date
GÜRAY TAYFUN SÜLÜKÇÜ
CIVIL ENGINEER
[***]
/s/ GÜRAY TAYFUN SÜLÜKÇÜ
134. Name, surname, title, TR identity number, signature, date of the official examining the document.
EMRE SÜMER
Zoning and City  Directorate Tax No
[***]
/s/ EMRE SÜMER
135. Name, surname, title, TR identity number, date, seal of the approver
YUSUF ERÇELİK
VICE CHAIRMAN
[***]
/s/ YUSUF ERÇELİK
136. Approval code 

	
	

REPUBLIC OF TURKEY
TITLE DEED
IMMOVABLE INFORMATION

Province: ANKARA
District: KAHRAMANKAZAN
Neighborhood / Village: SARAY(İ)
Location:
Plot: 3287 Parcel: 2
Surface Area: 16.622,00 m2 Vol / Page No: 46-4559
Quality: Land

It is necessary to apply to the land registry for real and personal rights outside the property, as well as annotations and indications.
LANDLORD INFORMATION

Name Surname / Father's Name: Share: M 2 per share :
ABDİL VEDAT YAKUPOĞLU, Son of SELAHATTİN Full 16.622.00

ABOUT THE REGISTRY

INFORMATION

Immovable No: Reason for Acquisition: Transaction Fee:
79224417 Being Structured while Unstructured
Location information: Registration Date / Journal Number: Suitable for registry
 16/09/2020- 11386
Issue Date: 16.09.2020
Hilal KARAÇAGİL
Deputy Authorized Manager
/s/  Deputy Authorized Manager

 

     

     

    

 

 

    

     

    

 

ANNEX-10:
Signature Circular of the D-MARKET and LESSOR

 

ANNEX10

 

	24 NOVEMBER 2016 NO: 9205	TURKISH TRADE REGISTRY GAZETTE	PAGE: 63

 

REAL PERSONS

 

Ankara Trade Registry Office

Notice Item No: 81517

Mersis No: 4645329038400019

Personal ID No: [***]

Trade Registry No: 401545

 

Business Name

ABDİL VEDAT YAKUPOĞLU

 

Address: Cumhuriyet Mah. Selanik Cad. Çorapçı
Kalabalık İşhanı No: 20 / 6 Çankaya Ankara

 

It is hereby notified that the following particulars
about the real person merchant with the above given details are registered on 21/11/2016 in accordance with the Turkish Commercial Code.

 

Registered Particulars: Establishment

Proof for Registration:

The Signature Statement certified by the Ankara 52th Notary Office
under File No. 25983 on 01/11/2016.

Business Owner:

Business Owner: Abdil Vedat Yakupoğlu

Residential Address:

[***]

Nationality: Republic of Turkey

Personal ID NO: [***]

Business Name:

Business Name: Abdil Vedat Yakupoğlu

Business Start Date:

Business Start Date: 01/11/2016

Business Address:

The registered address of the business is Ankara province, Çankaya
district, Cumhuriyet Mah. Selanik Cad. Çorapçı Kalabalık İşhanı 20/6 Çankaya/Ankara.

Line of Business:

The major line of business is as follows:

Letting out or leasing self owned or hired real properties (self owned
buildings, time-shares, lands, detached houses, etc.)

Authorized Signatories of Business:

Abdil Vedat Yakupoğlu, Personal Identity No. [***], residing in
[***], is appointed as Business Owner until otherwise resolved.

 

Capital of Business:

Capital of Business: Turkish Lira 1,000.00

 

(5/A)(22/553455)

 

SÖĞÜTÖZÜ Mah., 2180
Cad. No:5/A06530 ÇANKAYA/ANKARA

Tel: 03122018100 Fax: 3122859160

https://atonet.org.tr iletisim@atonet.org.tr

 

	 	[Union of Chambers and
	[K. Q.	Commodity Exchanges of Turkey
	TSE- ISSO –EN	accredited CHAMBER logo]
	9000]	 

 

    

     

    

 

Republic of Turkey

ANKARA 52ND NOTARY OFFICE

The Notary of ANKARA 52ND NOTARY OFFICE HANDAN BAYRAM

ADDRESS: [***]

PHONE NUMBER: [***]

FAX: [***]

Date: 01/11/2016

No. 25984

 

 

REQUEST FOR REGISTRATION

 

(THIS IS NOT A SIGNATURE CIRCULAR)

TO ANKARA TRADE REGISTRY OFFICE

 

I, the undersigned, shall operate from 01/11/2016
under the name of ABDİL VEDAT YAKUPOĞLU with the line of business of Real Property Leasing, Wholesale Trade, Construction
in the business address of Cumhuriyet Mah. Selanik Cad. Çorapçı Kalabalık İşhanı No: 20 / 6
 Çankaya / ANKARA and I wish to have my business name and my signature with the below seen specimens registered and announced
as I shall use it under this business name.

 

BUSINESS NAME: ABDİL VEDAT YAKUPOĞLU

ABDİL VEDAT YAKUPOĞLU – [***]

Oran Mah. Rafet Canıtez Cad. No: 9/19 Çankaya/Ankara

 

	SIGNATURE	SIGNATURE	SIGNATURE
	/s/ ABDİL VEDAT YAKUPOĞLU	/s/ ABDİL VEDAT YAKUPOĞLU	/s/ ABDİL VEDAT YAKUPOĞLU

 

I, the undersigned Notary
Public, hereby certify that the statement above (N.A. art. 90) is signed by ABDİL VEDAT YAKUPOĞLU, personal Identity
No. [***], born in [***] on [***] to his father [***] and his mother [***], registered with the vital
records office in [***] province, [***] district, [***] neighbourhood/village, Volume No. [***], Page No.
[***], Entry No. [***] based on a review of the photograph Identification Card issued by the [***] with registration
No. [***], Serial [***], No. [***] on 07/09/2012 he presented to me, who stated that he currently resides
in the above written address and literate and I further certify that he signed it before me in his place due to his busy agenda. Tuesday,
01/11/2016 (the First Day of November, Two Thousand and Sixteen)

 

		ANKARA 52ND NOTARY PUBLIC

Handan Bayram

Represented by

Secretary Authorized to Sign

Faruk OKUMUŞ

 

/s/ Faruk OKUMUŞ

  

SÖĞÜTÖZÜ Mah., 2180 Cad.
No:5/A06530 ÇANKAYA/ANKARA

Tel: 03122018100 Fax: 3122859160

https://atonet.org.tr iletisim@atonet.org.tr

 

	 	[Union of Chambers and
	[K. Q.	Commodity Exchanges of Turkey
	TSE- ISSO –EN	accredited CHAMBER logo]
	9000]	 

 

    

     

    

 

	[Ankara Chamber of Commerce logo]	Date: 19/02/2020
	Ankara Chamber of Commerce	Service: Commercial Registration Office

 

CHAMBER REGISTRATION CERTIFICATE

(Certificate of Good Standing)

 

	Trade Registry No	: 	401545	 
	 	 	 	 
	Company Name	: 	ABDİL VEDAT YAKUPOĞLU	 
	 	 	 	 
	Registered Address	: 	CUMHURİYET MAHALLESİ SELANİK CADDESİ ÇORAPÇI KALABALIK İŞHANI SİTESİ NO:20 / 6 CUMHURİYET SELANİK No:20/6 ÇANKAYA/ANKARA/Turkey
	 	 	 	 
	Date of Registration	: 	21/11/2016	Degree	: 	5.
	 	 	 	 
	Chamber Registration	:	 21/11/2016	Capital	: 	TRY 1,000.00
	 	 	 	 
	Occupational Group	: 	47 –OCCUPATIONAL COMMITTEE OF REAL PROPERTY INVESTORS
	 	 	 	 
	NACE Code	: 	68.20.02-Letting out or leasing self owned or hired real properties (self owned buildings, time-shares, lands, detached houses, etc.)
	 	 	 	 
	Other Activity	:	 	 

 

The entity with the above written details is registered with our
chamber and currently in Good Standing this certificate is issued and certified to be presented to whom it mat concern.

 

		/s/ Murat TÜRKER

For the General Secretary

Murat TÜRKER

Commercial Certification
Official

 

This certificate is issued upon request. It is valid for 6 months.

 

OS.F18 R-00

 

SÖĞÜTÖZÜ Mah., 2180 Cad.
No:5/A06530 ÇANKAYA/ANKARA

Tel: 03122018100 Fax: 3122859160

https://atonet.org.tr iletisim@atonet.org.tr

 

	 	[Union of Chambers and
	[K. Q.	Commodity Exchanges of Turkey
	TSE- ISSO –EN	accredited CHAMBER logo]
	9000]	 

 

    

     

    

 

ANNEX
11: D-MARKET Code of Conduct for suppliers and business partners

 

ANNEX-11

 

Relations
with Suppliers and Stakeholders

 

Doğan Online
Companies have adopted an internationally accepted corporate management approach essentially based on the concepts of equality, transparency,
accountability and responsibility. Grounding on this approach in all its activities and relations, Doğan Online Companies acts
in the light of the same principles in their communication with their business partners and customers in their fields of operation. Doğan
Online Companies are committed to taking any measures to ensure customer satisfaction, the privacy of the confidential information of
their customers and business partners and establishing honest business relations excluding unfair advantage relations with their customers
and business partners.

 

    

     

    

 

ANNEX
12: The image of the place subject to the lease before the renovation and the image after the renovation and construction works
made in accordance with the project

 

 

 

    

     

    

 

ANNEX
13: * Building Insurance Policy of LESSOR

 

	SME
                                            PACKAGE INSURANCE POLICY

     
	Central
Registration System No: 0068006132739588

	 
	Policy
    Number	Policy's
    Maturity	Renewal
    No	Date
    of Issuance - Place and Time	Insurance
    Period
	105215621	21/01/2021-21/01/2022	0	22/01/2021-16:08	365
	Agency's
    Name	ERHAN
    YAZICI SİGORTA ARACILIK HİZ.L
	Agency
    Code	320235	Plate
    No	T08610-2A74	Phone
    number	[***]

 

	INSURER
    INFORMATION
	Name
    Surname / Title	:
    ABDİL VEDAT YAKUPOĞLU
	Contact
    info	:
    [***]
	Customer
    number	:
    [***]
	REPUBLIC
    OF TURKEY Identification number	:
    [***]
	Phone
    number	:
    [***]
	E-mail
    address	 

 

	INSURED
    INFORMATION
	Title	Name
    Surname / Title	TR
    ID Number/Tax ID Number
	Landlord	ABDİL
    VEDAT YAKUPOĞLU	[***]

 

	INFORMATION
    ABOUT THE INSURED PERSON'S WORKPLACE
	Subject
    of Activity	:
    Warehouse  - That does not store flammable substances
	Facility's
    Name	:
    HEPSİ BURADA COM. LOGISTICS CENTER
	Address	:
    SARAY MAH. 222 CADDE NO: 9 D: BAĞIMSIZ BOLUM-5212549405 MERKEZ / KAHRAMANKAZAN ANKARA/Turkey
	Address
    Code	:
    5212549405
	Building
    Gross m2	:
    1200	Building
    Construction Style	:
    Steel, Reinforced Concrete Carcass
	Number
    of Employees Given Personal Accident Coverage	 	Construction
    Year of the Building	:
    2018
	Is
    there a Photovoltaic (PV) Solar Power Plant at Insured Places?	:
    No	Annual
    Total Turnover (TRY)	:
    [***]
	Number
    of Employees Guaranteed for Employer Insurance	 	Annual
    Inflation Hedge Ratio %	:
    % 15
	 	 	 	 	 

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 1 / 22

 

     

    

 

	PREMIUM INFORMATION	 	AMOUNT (TRY)	 	 	PAYMENT PLAN	 	PAYMENT DATE	 	AMOUNT (TRY)	 
	Pre-Tax Premium	 	 	35,862.90	 	 	1st Installment	 	22/01/2021	 	 	6,270.00	 
	Fire Insurance Tax	 	 	93.95	 	 	2nd Installment	 	22/02/2021	 	 	6,296.00	 
	Banking And Insurance Transaction Tax	 	 	1,793.15	 	 	3rd Installment	 	22/03/2021	 	 	6,296.00	 
	Amount to be paid	 	 	37,750.00	 	 	4th Installment	 	22/04/2021	 	 	6,296.00	 
	 	 	 	 	 	 	5th Installment	 	22/05/2021	 	 	6,296.00	 
	 	 	 	 	 	 	6th Installment	 	22/06/2021	 	 	6,296.00	 

 

	SUBJECT OF INSURANCE	 	INSURANCE COST (TRY)	 
	Building	 	 	26,000,000.00	 
	Machinery - Installation	 	 	2,500,000.00	 
	Glass	 	 	100.00	 
	Billboard / Totem	 	 	100.00	 

 

	GUARANTEES	 	INSURANCE COST (TRY)	 	 	PRICE(%)	 	 	PREMIUM (TRY)	 
	Fire, Lightning, Explosion	 	 	 	 	 	 	 	 	 	 	798.19	 
	Building	 	 	26,000,000.00	 	 	 	 	 	 	 	 	 
	Machinery - Installation	 	 	2,500,000.00	 	 	 	 	 	 	 	 	 
	Internal water	 	 	28,500,000.00	 	 	 	 	 	 	 	45.96	 
	Storm	 	 	28,500,000.00	 	 	 	 	 	 	 	24.51	 
	Landslide	 	 	28,500,000.00	 	 	 	 	 	 	 	6.13	 
	Smoke	 	 	28,500,000.00	 	 	 	 	 	 	 	30.64	 
	Snow weight	 	 	28,500,000.00	 	 	 	 	 	 	 	30.64	 
	Land vehicles crash	 	 	28,500,000.00	 	 	 	 	 	 	 	3.06	 
	Aircraft crash	 	 	28,500,000.00	 	 	 	 	 	 	 	30.64	 
	Hail	 	 	372,505.00	 	 	 	 	 	 	 	20.02	 
	Flood, land flood	 	 	28,500,000.00	 	 	 	 	 	 	 	45.96	 
	GLKHHKNH-Terror	 	 	28,500,000.00	 	 	 	 	 	 	 	30.64	 
	Earthquake and Volcano Eruption - Contents	 	 	2.,00,000.00	 	 	 	 	 	 	 	2,956.25	 
	Earthquake and Volcano Eruption - Building, Foundations, Decoration	 	 	26,000,000.00	 	 	 	 	 	 	 	30,745.00	 
	Theft	 	 	 	 	 	 	 	 	 	 	0.27	 
	Machinery - Installation	 	 	2,500,000.00	 	 	 	 	 	 	 	 	 
	Billboard / Totem	 	 	100.00	 	 	 	 	 	 	 	 	 
	Building's Fixed Installation	 	 	7,500.00	 	 	 	 	 	 	 	 	 

 

	INDEMNITY LIMITED GUARANTEES	 	LIMIT PER EVENT (TRY)	 	 	TOTAL LIMIT (TRY)	 	 	LIMIT PER CAPITA (TRY)	 	 	LIMIT PER VEHICLE (TRY)	 	 	PREMIUM (TRY)	 
	Legal Protection	 	 	 	 	 	 	10,000.00	 	 	 	 	 	 	 	 	 	 	 	5.00	 
	Temporary Address Transfer	 	 	 	 	 	 	10,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	Alternative workplace change costs	 	 	 	 	 	 	149,020.00	 	 	 	 	 	 	 	 	 	 	 	30.64	 
	Business interruption	 	 	 	 	 	 	25,000.00	 	 	 	 	 	 	 	 	 	 	 	30.64	 
	Loss of rent	 	 	 	 	 	 	30,000.00	 	 	 	 	 	 	 	 	 	 	 	30.64	 
	Fire Financial Liability	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	966.00	 
	Landlord's liability to the tenant	 	 	 	 	 	 	4,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	Neighborhood Responsibility	 	 	 	 	 	 	4,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 2 / 22

 

     

    

 

	INDEMNITY
    LIMITED GUARANTEES	 	LIMIT
    PER EVENT (TRY)	 	 	TOTAL
    LIMIT (TRY)	 	 	LIMIT
    PER CAPITA	 	 	LIMIT
    PER VEHICLE (TRY)	 	 	PREMIUM
    (TRY)	 
	 	 	 	  	 	 	 	 	 	 	 	   	 	 	 	   	 	 	 	  	 
	Fire, Explosion	 	 	 	 	 	 	8,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	Internal water	 	 	 	 	 	 	8,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	Smoke	 	 	 	 	 	 	8,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	GLKHHKNH - Terror Tenancy /
    Owner Financial Liability	 	 	 	 	 	 	4,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	GLKHHKNH - Terror Neighborhood
    Financial Liability	 	 	 	 	 	 	4,000,000.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	Debris removal costs -
    Building	 	 	 	 	 	 	1,040,000.00	 	 	 	 	 	 	 	 	 	 	 	0.11	 
	Debris removal costs -
    Contents	 	 	 	 	 	 	100,000.00	 	 	 	 	 	 	 	 	 	 	 	0.01	 
	Glass Breakage	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0.02	 
	Glass	 	 	 	 	 	 	100.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	Billboard / Totem	 	 	 	 	 	 	100.00	 	 	 	 	 	 	 	 	 	 	 	 	 
	Third Party Liability	 	 	 	 	 	 	500,000.00	 	 	 	 	 	 	 	 	 	 	 	1.50	 
	Third Party Liability	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Elevator, Escalator Responsibility	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

	ASSISTANCE
    SERVICES
	 
	ANADOLU
    Emergency Health Services
	Anadolu
    Hizmet

 

Emergency
workplace assistance services will be provided by calling 0 850 724 0 850. Otherwise, the services received will be considered out of
coverage.

 

Assistance
services only apply to the risk address stated on the front of the policy, addresses specified in special conditions are out of scope.

 

Anadolu
Anonim Türk Sigorta Şirketi provides the assurances specified in this policy, which is arranged by the insurer and the insured
based on their own explanations and relying on the accuracy of their statements, within the framework of the general conditions, special
conditions, clauses or the product booklet containing this information listed in the policy and delivered to the insurer together with
the policy. The guarantees you can benefit from under the insurance contract are limited to the guarantees you have purchased and specified
in the policy. The product brochure provided to you may also contain descriptions of some collateral that you have not purchased. In
terms of which guarantees you are entitled to benefit from, the policy will be relied upon, not the product booklet.

 

If
the e-mail address is provided, the related product booklet and information form can be sent to your address electronically with the
policy. In addition, the product booklet and information forms can be accessed at www.anadolusigorta.com.tr on our company's website.

 

	GENERAL
    CONDITIONS
	 
	This
                                            policy shall prevail within the framework of the general conditions specified below. The
                                            general condition texts given in the title are included in the SME Package Insurance &
                                            Sectoral Package Insurances Booklet (YN 641) given to you with this policy.

     

    •
    General Conditions of Fire Insurance

     

    •
    General Conditions of Theft Insurance

     

    •
    General Conditions for Insurance Against Glass Breakage

     

    •
    General Conditions for Financial Liability Insurance Against Third Parties

     

    •
    General Conditions of Legal Protection Insurance

     

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 3 / 22

 

     

    

 

	 
	USER
    SPECIAL CONDITIONS
	 
	AFOREMENTIONED
    WORKPLACE HEREBY HAS BEEN LEASED TO COMPANY AS A WAREHOUSE AND LOGISTICS CENTER.

 

SPECIAL
CONDITIONS

 

It
has been agreed by the parties that the following clauses and special conditions for this policy shall prevail within the framework of
the explanations written in the policy and the general conditions, special conditions, clauses or the product booklet containing this
information delivered to the insured together with the policy.

 

SME
Package Insurance and Sectoral Package Insurance Booklet - YN 641

 

Internal
Water Clause

 

Earthquake
and Volcano Eruption Clause

 

Smoke
Clause

 

Storm
Clause

 

Aircraft
Clause

 

Strike,
Lockout, Chaos, Popular Movements Clause

 

Malicious
Acts Clause

 

Terror
Clause

 

Snow
Weight Clause

 

Land
Vehicles Clause

 

Flood
or Land flood Clause

 

Landslide
Clause

 

Fire
and Explosion Financial Liability Clause

 

Inflation
Indexed Collateral Clause for Earthquake and Volcano Eruption Coverage

 

Strikes,
Lockouts, Turmoil, Popular Movements or Strike, Lockout, Turmoil, Popular Movements, Malicious Movements and Terror Clause in Inflation-Indexed
Policies

 

Workplace
Clause of Anadolu Hizmet

 

Inflation
Protection Clause

 

Recourse
Rights Special Condition

 

Documents
Required In Case Of Damage Clause

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 4 / 22

 

     

    

 

Earthquake
and Volcano Eruption Coverage

 

Earthquake
and Volcano Eruption Insurance is made in the form of joint insurance with the insured at the rates stated below.

 

	Joint Insurance
    Distribution	 	The
    Section where the Insured is Responsible for 100% of the Insurance Amount	 	 	The
    Section where the Insurer is Responsible for 100% of the Insurance Amount	 
	Building,
    Foundation, Decoration	 	 	20	 	 	 	80	 
	Content	 	 	20	 	 	 	80	 
	 	 	 	 	 	 	 	 	 
	In Earthquake and Volcano Eruption
    Insurance, the following exemption has been applied over the part that the insurer is responsible for.
	 
	 	 	 	Exemption
                                            To Be Applied Over The Part That The Insurer Is Responsible For (%)	 
	Building,
    Foundation, Decoration	 	 	2	 
	Content	 	 	2	 

 

Fire
Insurance Earthquake and Volcano Eruption Coverage Joint Insurance and Exemption Clause (Industrial and Commercial Risks)

 

Earthquake
and volcanic eruption insurance is made in the form of joint insurance with the insured provided that at least 20% of the insurance amount
remains on the insured and the insured participates in the damage at this rate. The insured and the insurer may agree to increase this
rate. In this case, the premium is calculated on the basis of the price reduction specified in the tariff over the insurance amount.
This issue is written on the front of the policy.

 

The
insured cannot reinsure the part of the insurance amount that it agrees to keep on itself and the part he has undertaken. The insured
participates in the damage at the rate agreed in advance and written in the policy.

 

In
each damage related to earthquake and volcanic eruption coverage, if the insurance coverage of the same insured and at the same risk
address covers the building (building, fixed installation and decoration) and its contents (commodity; machinery, equipment, fixtures
and other installations) or more than one building or its contents;

 

		•	Building,
                                            fixed installation and decoration,

 

		•	Commodity,

 

		•	A
                                            deductible exemption of at least 2% over the total insurance costs of each of the machinery,
                                            equipment, fixtures and other installations, groups (the part for which the insurer is responsible)
                                            shall be applied separately for each of these groups. The insurer is responsible for the
                                            part of the damage exceeding this exemption amount. The insured and the insurer may agree
                                            to increase the exemption rate. In this case, the price is discounted at the rate specified
                                            in the tariff. This issue is written on the front of the policy. In terms of exemption application,
                                            each 72-hour period is considered as a damage.

  

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 5 / 22

 

     

    

 

Strike,
Lockout, Turmoil, People's Movements or Strike, Lockout, Turmoil, People's Movements, Malicious Movements and Terror Exemption Clause
- For Non-Residential Commercial and Industrial Risks 

 

Without
prejudice to the General Conditions of Fire Insurance and the provisions of Strike, Lockout, Turmoil, Public Movements or Strike, Lockout,
Turmoil, Public Movements, Malicious Movements and Terror clauses attached to the policy; this insurance is made in the form of joint
insurance provided that 20% of the 100% insurance amount is above the insured.

 

In
case of damages, the insured participates in the damage at the rate stated above.

 

In
each damage related to this coverage, if the insurance coverage of the same insured and at a separate risk address covers the building
and its contents (commodity, machinery, equipment, fixtures and other installations) or more than one building and its contents, all:

 

		•	Building
                                            fixed installation decoration

 

		•	Commodity

 

		•	A
                                            deductible exemption of 2% on the total insurance costs of each of the machinery, equipment,
                                            fixtures and other installation groups (80% of which the insurer is responsible) shall be
                                            applied separately for each of these groups. The insurer is responsible for the part of the
                                            damage exceeding the exemption.

 

Flood
Coverage

 

For
each damage that may occur in relation to flood coverage, a deductible exemption of 2% of the insurance amount of each of the following
groups shall be applied to the relevant group. However, the total exemption to be applied to these groups is limited to EUR 50,000.

 

•
Building, fixed installation and decoration

 

•
Commodity

 

•
Machinery, equipment, fixtures and other installations

 

Additional
Coverage for Landslides

 

Damages
caused by landslide or land collapse as a result of excavations made around the insured building are included in the guarantee, except
for excavations ongoing or planned (known to the insured it is planned) on the insurance start date. A 10% deductible exemption shall
be applied over the compensation amount to be paid for each damage that may occur under this guarantee.

 

Special
Condition for Insulation Insufficiency

 

With
the Special Condition of Insulation Inadequacy, damages caused by leakage and/or entry of rain and snow water from the exterior or terrace
of the building (with floor strainer) or windows, doors and moldings (offshores) due to insufficient insulation and/or loss of insulation
and damages caused by leakage of water accumulated on roofs without floor strainer are included in the coverage not exceeding 10% of
the total annual insurance amount and in any case TRY 500,000. An exemption of TRY 500 shall be applied for each damage covered by the
guarantee.

 

Damages
that may occur due to the following reasons are excluded from the coverage.

 

•
Leaking water from the unplastered side facade caused by the collapse of the adjacent order building

 

•
Leaked water from the front with coarse and fine plaster but not painted

 

•
Leakage of water accumulated on balconies without floor strainers to the insured floor from downstairs and/or under the doors

 

•
Damage caused by sweating, mold and similar causes due to lack/loss of heat insulation

 

•
All kinds of insulation costs

 

•
Damages on the facade and roof

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 6 / 22

 

     

    

 

Hail
Coverage

 

•
Provided that it is covered by this policy, damages that may occur due to hail in the building and content, with or without the storm,
are covered by the limit specified on the policy in total per occurrence and during the policy period. 

 

•
An exemption of USD 250 will be applied for each damage.

 

•
Exposed content is excluded from coverage even if it is under porch, awning or cover, etc.

 

Computer
Software and Programs Coverage External Clause

 

All
kinds of computer software and programs are not covered.

 

Special
Condition of the Subject of Activity

 

The
 "Subject of Activity" related to the risk(s) covered by this insurance is stated in the policy as declared by the insurer and/or
the insured. The special conditions that the insurance premium and the insurance relationship will be subject to are determined in accordance
with this declaration of the insurer and/or the insured. If it is determined that the actual activity subject to the said risk is different
from the declared activity subject, the relevant provisions of the Turkish Commercial Code (TCC) and the General Conditions of Insurance
shall apply to the violation of the pre-contractual notification obligation.

 

Special
Condition of Tobacco and Alcohol Limit 

 

The
special condition of tobacco and alcohol limit is limited to 10% of the commodity price provided that it does not exceed a maximum of
TRY 5,000 for theft collateral, tobacco and tobacco products and alcoholic beverages.

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 7 / 22

 

     

    

 

Photovoltaic
(Pv) Solar Power Plant Exemption

 

The
Insurer/Insured declares in this insurance contract that there is no photovoltaic (PV) solar power plant in the insured places. Notwithstanding
this declaration, in the event that it is determined that there is a photovoltaic (PV) solar power plant in the insured places in this
insurance contract, the damages due to this proximate cause and/or the damages that are realized or aggravated due to this reason shall
be excluded from the coverage. The photovoltaic (PV) solar power plant itself, along with all kinds of installations and extensions,
is out of the scope of coverage.

 

Sprinkler
Leak

 

Damages
caused by sprinkler installation are included in the coverage under the Fire Insurance General Conditions - Internal Water clause.

 

Provisional
Address Transfer Guarantee

 

As
a result of the damages that may occur under the policy, the damages covered by the guarantees contained in this policy that the machinery,
fixtures and electronic devices may be temporarily exposed to at another address due to maintenance/repair and similar reasons are covered,
provided that they are limited to the amounts specified in the policy, the maximum compensation amount to be paid for this guarantee
in a policy period will be limited to a total of TRY 10.000. Damages that may occur during transportation are not covered. In any case,
the compensation to be paid under this policy will be limited to the total fire insurance cost specified in the policy schedule.

 

Rental
Loss Guarantee

 

Without
prejudice to the provisions of the General Conditions of Fire Insurance, except for earthquake coverage, if the building is in an uninhabitable
condition as a result of the damages that may occur within the scope of the policy, the loss arising from the failure to obtain the expected
lease or usufruct right from the building rented for the owner or usufructuary, which is the part of the rent paid in advance for the
tenant corresponding to the unprocessed period with the day calculation, is covered by the coverage. In the calculation of the compensation;
the amount of the rent that will correspond to the period required for the repair and construction of the building (maximum one year)
shall be taken as basis.

 

The
maximum liability of the insurer shall be limited to the monthly rental amount specified in the current rental contract, provided that
the monthly rental amount does not exceed TRY 2,500. In any case, the compensation to be paid under this policy will be limited to the
total fire insurance cost specified in the policy schedule.

 

Alternative
Workplace Replacement Costs Coverage

 

Without
prejudice to the provisions of the General Conditions of Fire Insurance, except for earthquake coverage, reasonable costs related to
the alternative workplace that the insured is obliged to make for up to 12 months in the capacity of tenant or anchor or owner of the
building due to the fact that the workplace building becomes uninhabitable as a result of damages that may occur under the policy and
provided that it does not exceed the reasonable period required for repair or reconstruction are covered by the insurer. However, the
maximum liability of the insurer is limited to the limit specified on the policy. In any case, the compensation to be paid under this
policy will be limited to the total fire insurance cost specified in the policy schedule.

 

Business
Interruption Guarantee

 

Without
prejudice to the provisions of the General Conditions of Fire Insurance, if the commercial activity stops completely for more than 3
days starting from the day following the date of the occurrence of the damage as a result of the fire hazard in the insured place, 10%
of the damage amount to be paid to the insured and an additional amount not exceeding the limit specified on the policy shall be paid
as work stoppage compensation.

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 8 / 22

 

     

    

 

Special
Condition of Glass Breakage

 

The
glass breakage guarantee given by this policy is the compensation limit and the total limit per event and year is limited to the amount
specified in the policy.

 

Glass
Breakage Coverage

 

Glass
breakage coverage includes glass table, coffee table, mirrors, window glasses in the workplace.

 

Debris
Removal Expenses

 

The
debris removal costs to be incurred in relation to the damages related to the fire and additional guarantees included in the policy are
included in the guarantee, limited to the amount specified in the policy.

 

Legal
Protection Guarantee for Immovable Property

 

The
insurer shall provide the insured with protection for any disputes that may arise in respect of the lessor, the lessee or one or all
of the tiTRYes of the same right holder, provided that all or part of the immovable and movable property shown in the policy is shown
in the policy. Among the expenses to be paid, provided that they arise from the conditions stipulated in the general conditions regarding
the coverages in the policy, the attorney and consultancy fees are limited to the attorney and consultancy minimum wage tariff. The limit
of the legal protection guarantee provided by this policy is limited to TRY 10,000 per occurrence and in total per year.

 

Special
Condition of theft

 

The
guarantee of theft is valid provided that at least one of the following measures has been taken and is operational at the time of the
risk, which is suitable for the protection of the entire insured place against the risk of theft:

 

		•	Alarm
                                            system connected to security companies, mobile phones or security forces (common enough to
                                            detect theft anywhere in the insured place and not affected by power outages)

 

		•	Iron
                                            bars, shutters or laminated safety glass with a minimum thickness of 4+4 mm (of sufficient
                                            strength to protect all doors and windows of the insured place)

 

		•	Night
                                            watchman (equipped to detect and prevent and notify any theft that may occur in the insured
                                            place according to the size of the insured place)

 

Building
Fixed Installation Theft Guarantee

 

Fixed
assets of the building are secured against the risk of theft, provided that they are limited to the limit specified on the policy. In
any case, the total amount of compensation to be paid shall be limited to the total insurance amount.

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 9 / 22

 

     

    

 

Contents
in the Open Area

 

If
not specified separately on the policy, the content in the open area is excluded from the guarantee. The four sides of the content shall
be considered as indoors and/or under or within the porch, awning, tent, tarpaulin, wire mesh or cover, etc., and the guarantee shall
be excluded unless otherwise stated in the policy.

 

Strikes,
Lockouts, Turmoil, Popular Movements, Malicious Movements, Terror Guarantee

 

Strikes,
Lockouts, Turmoil, People's Movements or Strike, Lockout, Turmoil, People's Movements and Malicious Acts, Terror Insurance has been made
in the form of joint insurance with the insured at the rates stated below.

 

	Joint Insurance
    Distribution	 	The
    Section where the Insured is Responsible for 100% Insurance Amount	 	 	The
    Section where the Insurer is Responsible for 100% Insurance Amount	 
	G.L.-K.H.H.-K.N.H.-Terror	 	 	20	 	 	 	80	 
	 

                                                                     Strikes,
                                            Lockouts, Turmoil, People's Movements or Strikes, Lockouts, Turmoil, People's Movements Malicious
                                            Acts, Terror Insurance has been exempted at the following rates over the part that the insurer
                                            is responsible for.

                                                                      

	 	 	 	Exemption
                                            To Be Applied Over The Part That The Insurer Is Responsible For (%)	 
	G.L.-K.H.H.-K.N.H.-Terror	 	 	2	 

  

Note
on Exemption and Joint Insurance Practices of GLKHKNH-Terror Coverage Received with Fire Financial Liability Coverage 

 

In
the event that GLKHKNH-Terror coverage has been received together with fire liability coverage, the exemption and joint insurance conditions
regarding GLKHKNH-Terror coverage shall apply.

 

GLKHKNH
- Note on Exemption and Joint Insurance Practices of Terror and Earthquake Coverages 

 

In
case of damages arising as a result of terror and earthquake, GLKHKNH- Exemption and joint insurance conditions related to terror and
earthquake guarantees shall apply.

 

ANADOLU
Emergency Health Services

 

With
this service, within the boundaries of the workplace that is within the provincial boundaries of Turkey (including the TRNC), it is ensured
that the employees of the workplace who have a service contract with the employer and are affiliated with the Law of Social Insurance
and those who are in the workplace benefit from ANADOLU Emergency Health Services to be valid during working hours. The said service
shall also apply if the persons working in the insured workplace under the Law of Social Insurance are outside the insured workplace
due to duty.

 

Medical
Counseling

 

Upon
the request of the insured of the INSURANCE COMPANY to the Alarm Center, it is the transfer of informative and guiding information by
the contracted company physicians to the right holder (patient) via telephone and without any physical determination opportunity.

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 10 / 22

 

     

    

 

Emergency
Health Services

 

It
covers the service provided within the Emergency Health Services Regulation of the Ministry of Health published in the Official Gazette
dated 15.03.2007 and numbered 26463 and the generally accepted principles. These services are provided by medical teams trained in emergency
health care with medical tools and equipment support in the early period following the occurrence of sudden illness, accident, injury
and similar situations.

 

Emergency
Land Ambulance Service

 

It
is a vehicle consisting of a team of physicians, anesthesiologists and drivers equipped with the most advanced communication technology
and deployed in ambulance stations and meeting the requirements of international standards and the requirements of the Special Ambulance
Services Regulation published in the Official Gazette of the Ministry of Health dated 07.12.2006 and numbered 26369 to provide continuous
service (full day). The service will be provided directly by the contracted company within the borders of Istanbul, Ankara Metropolitan
Municipality (excluding adjacent areas). In case of requests that may occur outside the borders of Istanbul, Ankara Metropolitan Municipality;
the contracted company will provide service with ambulances affiliated to contracted physicians and/or health institutions and information
about these locations can be accessed at www.anadolusigorta.com.tr.

 

Emergency
Physician Service

 

It
is the service of sending a physician to the right holder (patient) in the first place at points where there is no land ambulance and
it will take a long time to reach and performing the intervention and/or, if deemed necessary, transportation to the nearest equipped
health center for the intervention.

 

Medicine
and Consumables

 

Medicines
and routine materials to be used free of charge by the contracted company to the right holder (patient) in case of emergency intervention.

 

Medical
Information Bridge

 

It
is a system based on information communication between the Beneficiary (Patient), treatment institution (hospital and similar institution),
ambulance, patient relative and/or physician.

 

Emergency
List

 

•
Drowning

 

•
Traffic accident

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 11 / 22

 

     

    

 

•
Terror, sabotage, shooting, stabbing, fighting, etc.

 

•
Suicide Attempt

 

•
Rape

 

•
Falling from high

 

•
Serious Occupational Accidents, Limb Rupture

 

•
Electric shock

 

•
Freezing, Cold Stroke

 

•
Heat Stroke

 

•
Severe Burns

 

•
Serious Eye Injuries

 

•
Poisoning

 

•
Severe Allergy, Anaphylactic Statements: Disruption in heart rhythm, severe allergy or low blood pressure that may lead to obstruction
in the respiratory tract.

 

•
Spine and Lower Extremity Fractures: Leg fractures that cause major external or internal bleeding and all kinds of spine fractures.

 

•
Decompression (Diving) Disease: The situation popularly called profiteering.

 

•
MI, Arrhythmia, Hypertension Crises: Current heart attack, types of heart rhythm disorder requiring urgent treatment, blood pressure,
cerebral hemorrhage, etc. increase to a level that could lead to serious situations.

 

•
Asthma Attack, Acute Respiratory Problems

 

•
All Kinds of Situations That Cause Unconsciousness

 

•
Sudden Paralysis

 

•
Serious General Situation Disorder: Deterioration of a person's health to an extent that may be dangerous in general due to reasons such
as old age, nutritional deficiency, inadequate care, prolonged serious illness, etc.

 

•
High Fever: Increased body temperature (39.5 °C and above on average) that may lead to convulsion (convulsion) or heart rhythm disorders
due to poisoning, infectious diseases, hot flushes, etc.

 

•
Diabetic and uremic Bleeding: Situations ranging from blurred consciousness caused by diabetes (diabetes) and kidney failure to complete
loss of consciousness (coma).

 

•
Dialysis Disease accompanied by General Condition Disorder

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 12 / 22

 

     

    

 

•
Acute Abdomen: Situations requiring urgent intervention such as perforation, blockage or clogging of hollow organs such as stomach, intestine,
inflammation, etc.

 

•
Acute Massive Bleedings: Life-threatening internal or external bleeding, usually caused by trauma.

 

•
Meningitis, Encephalitis, Brain Abscess: Inflammatory and infectious diseases related to the membrane surrounding the brain and brain
that may affect vital functions due to nervous system functions.

 

•
Renal Colic: A condition caused by kidney stones, causing severe pain that may lead to urinary tract or kidney damage if progressed.

 

•
Acute Psychotic Tables: Neurological or psychological disorders leading to excessive aggression.

 

•
Migraine and/or Vomiting, Headaches with Loss of Consciousness

 

Newborn
Comas

 

•
Started Birth Activity (Emptying of Water Bladder)

 

Important
note:

 

The
above definitions have been made in a very simplified way in order to be guiding. It may not be possible from time to time for persons
without medical knowledge to make an emergency assessment solely on the basis of the above information or on the basis of information
communicated to them by a healthcare professional by telephone. Please note that whether his/her health condition constitutes an emergency
or not is based on physical examination.

 

Liabilities
of the Insured Regarding Liability Insurances

 

Within
the scope of the coverage given by this insurance, the Insurer has the right and authority to decide on the claims to be made to the
Insured.

 

The
Insured shall not, without the knowledge and consent of the Insurer, reconcile with any person or institution claiming compensation for
a loss covered by this policy or accept or acknowledge, pay compensation or make payment against such person or institutions in whole
or in part. If otherwise, the Insured loses all rights arising from the insurance and cannot benefit from the insurance protection in
any way.

 

In
relation to all claims constituting the subject matter of this policy, the insurer has absolute right to wait for the claim to result
in a final court decision or to settle with the claimant at any time over the amount it deems appropriate following his/her own evaluation.

 

If
the Insured refuses a solution proposed to him by the Insurer and elects to proceed with legal proceedings, then the Insurer's liability
shall be limited to the amount required to resolve this matter as recommended and also to the costs and expenses incurred with the Insurer's
approval until the date of such refusal.

 

The
Insured shall use its best endeavors to prevent or minimize any loss which may give rise to a claim under this policy as if it were not
insured;

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 13 / 22

 

     

    

 

The
premium for this policy is calculated on the basis of the estimates provided by the insured and the insured shall retain all relevant
details and, if deemed necessary, allow the insurer to examine these records;

 

Other
Conditions:

 

		•	The
                                            Insurer pays to the insured the maximum amount payable under this policy or a lesser amount
                                            which is sufficient to resolve the incident and is not obliged to make any other payment;

 

		•	If
                                            any payment is made in respect of a claim under this insurance, it is agreed that the insurer
                                            shall take over all recourse rights of the insured;

 

		•	If
                                            the insured knowingly makes a false or fraudulent claim, this insurance shall be null and
                                            void and all claims for damages shall be reduced;

 

		•	This
                                            policy is valid provided that the insured is not aware of a claim for compensation or any
                                            event that may lead to a claim for compensation as of the date of commencement or issue;

 

		•	This
                                            policy has been issued on an incident basis and the date of return is the policy start date;

 

		•	This
                                            policy shall be valid provided that all laws, regulations, regulations and similar obligations
                                            regarding the activities subject to the guarantee and the manufacture, sale and distribution
                                            of the products are fully complied with. Claims for compensation for activities and products
                                            where these criteria are not fulfilled are outside the scope of the guarantee.

 

Other
Insurances:

 

If
a liability covered by this insurance is also covered by another insurance, this insurance constitutes' joint insurance 'together with
other insurances. In any case, if there is more than one policy issued by Anadolu Sigorta, the one with more coverage limit shall be
taken into consideration and Anadolu Sigorta shall be liable for all compensation claims up to this limit.

 

Collateral
Limits for Third Party Liability and Additional Guarantees

 

Per
Event: The liability of the Insurer for all compensation costs and legal expenses payable to persons claiming compensation in any event
shall not exceed the limit of compensation per event specified in the policy schedule.

 

Total
amount within the Insurance Period: The liability of the insurer for all compensation amounts and legal expenses that may be paid in
relation to events occurring within the policy period shall not exceed the total limit shown within the insurance period in the policy
schedule.

 

The
sum of compensation amounts payable within the policy period due to damages under this coverage, including additional coverages, shall
in no way exceed the total coverage limit per event specified in the policy and within the insurance period.

 

Third
Party Liability and Additional Guarantees Exemption Note

 

A
deductible exemption of TRY 250 shall be applied for each damage.

 

Third
Party Liability Damage Series Special Condition

 

In
order to determine the liability of the Insurer in relation to the events covered by the guarantee; all damages incurred as a result
of continuous or repeated exposure to a common and a single wasteful condition shall be treated as a single event regardless of the number
of real or legal persons making the claim and shall be deemed to have occurred within the compensation period in which the first event
occurred.

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 14 / 22

 

     

    

 

Third
Party Liability Exceptions

 

This
policy does not cover claims arising from:

 

		•	Any
                                            liability for injuries and illnesses suffered by any person bound by a service or apprenticeship
                                            contract to the Insured;

 

		•	Liability
                                            arising from the operation of motor vehicles and trailers subject to compulsory insurance
                                            by law, ownership of such vehicles or the use of such vehicles by or on behalf of the insured;

 

		•	Liability
                                            arising in relation to an aircraft or craft manufactured for use on or in the water surface
                                            or in the air;

 

		•	Professional
                                            assistance or advice or service provided or neglected by the Insured;

 

		•	Liability
                                            for any financial/financial loss (pure financial loss) and any indirect loss (consequential
                                            loss) not caused by loss of property/property or bodily damage specified in the Coverage
                                            section;

 

		•	Delays
                                            in contractual obligations, failure to make shipments and claims for damages related thereto;

 

		•	The
                                            extended portion of liability in the event of the insured's liability being extended by contract;

 

Responsibilities
in connection with those below:

 

		•	Contamination
                                            with nuclear waste or nuclear fuel due to combustion of nuclear fuel

 

		•	Radioactive
                                            toxic explosion or other hazardous properties of explosive nuclear components

 

		•	Damages
                                            caused by asbestos, in whatever form or amount, or resulting directly or indirectly from
                                            the use of asbestos;

 

		•	Claims
                                            for compensation for war, civil war, revolution, terrorism, sabotage, strike and insurrection;

 

		•	Exemplary
                                            or punitive damages;

 

Claims
made by the insured to each other under this policy or

 

		•	A
                                            company in which the persons or employees of the insured acting on behalf of the insured
                                            or the insured are the managers, or

 

		•	A
                                            company managed or predominantly controlled by the Insured (affiliated company, etc.) or

 

		•	A
                                            company (parent company, partner office, etc.) that has a financial relationship with the
                                            operations of the Insured, or

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 15 / 22

 

     

    

 

		•	Claims
                                            for compensation put forward by a company whose employees are involved in the operations
                                            of the Insured;

 

		•	Electromagnetic
                                            fields and electromagnetic radiation;

 

		•	Losses
                                            due to lead, cadmium, formaldehyde and toxic mold;

 

		•	Claims
                                            for compensation arising from gradual environmental pollution not caused by sudden and unexpected
                                            accidents

 

		•	Damages
                                            incurred after delivery due to defects in this product, work or service in relation to the
                                            product, work or services completed and delivered by the Insured to its customers.

 

		•	Responsibilities
                                            of the insured for damages arising from theft, theft, loss

 

		•	Claims
                                            for compensation to be assessed within the scope of Compulsory Financial Liability, Special
                                            Safety Compulsory Financial Liability and Marine Pollution Compulsory Financial Liability
                                            insurances of Coastal Facilities

 

		•	The
                                            claims made by the representative of the insured and the persons accustomed to the management,
                                            supervision and operation of the enterprise or part of the enterprise are not covered by
                                            the policy due to their violation of their obligations arising from the law and the articles
                                            of association during the management activities.

 

Elevator,
Escalator Liability Guarantee

 

Coverage
is extended as follows contrary to article "3-B.1” of the General Conditions of Financial Liability Insurance Against Third
Parties:

 

Claims
for compensation that may be put forward by third parties as a result of accidents that may occur in the elevator(s) used in the activity
written in the policy or in the building are added to the coverage. This additional guarantee is provided on the condition that the building
is fully used by the insured and that the elevator has an annual maintenance agreement.

 

Third
Party Liability Coverage

 

The
Insurer shall be liable for any damage caused by an incident occurring within the insurance period during the business activities of
the insured at the place specified in the policy as the Insurer's Address and the related activities carried out at various places within
the borders of the Republic of Turkey.

 

		•	Death,
                                            injury or deterioration of health of third parties,

 

		•	Material
                                            damage to third party goods

 

		•	Claims
                                            for non-pecuniary damages by third parties

 

For
these reasons, it guarantees the insured against the consequences of the claims to be made by third parties within the framework of the
special conditions written in the policy and the General Conditions of Financial Liability Insurance Against the related Third Parties.
Insurance coverage covers the liability of the insured within the framework of the provisions of the legislation on legal liability of
the Republic of Turkey due to the title, activity and legal relations shown in the policy and is limited to the amounts written in the
policy. The maintenance and maintenance of the buildings where the insured operates are also evaluated within the framework of the operating
activities of the insured and the damages arising from the building and the liability of the insured are also included in the coverage.
Liability to third parties does not include liability arising from the failure to provide commercial services to customers at all or
as required.

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 16 / 22

 

     

    

 

Food
Poisoning Coverage

 

The
legal responsibilities of the insured for damages arising as a result of food poisoning caused by food and beverages offered at the premises
of the Insured are included in the coverage.

 

Advertisement
Board Liability Coverage Liabilities arising from damages arising from signs, boards, etc. in the workplace of the Insured are included
in the coverage.

 

Renovation
and Faulty Construction Coverage

 

The legal
responsibilities of the insured due to the material and physical damages that may be incurred by third parties during the repairs, renovation
and renovation works within the facility are included in the guarantee. This policy shall be valid provided that all laws, regulations
and similar obligations related to the activities subject to guarantee are fully complied with. Claims for compensation for activities
where these criteria are not met are outside the scope of the guarantee.

 

Extension
of Third Party Liability Coverage Given Together with SME Package Insurance Policies

 

The damages
to be caused to the third party goods under the supervision of the insured as a result of the commercial activity shown by the insured
at the risk address have been included in the coverage with a limit of TRY 150,000 per occurrence and annually provided that it does
not exceed the third party liability coverage limit in accordance with Article 3-A-8-a of the General Conditions of Financial Liability
Insurance against Third Parties.

 

Missing
Insurance Clause

 

The
maximum compensation to be paid as a result of any damage that may be covered by the insurance contract within the scope of Article A5
of the General Conditions of Fire Insurance shall be limited to the insurance amounts written in the policy. In case of partial damages,
if the difference between the insurance amount specified in the policy and the insurance value is 10% or less, missing insurance shall
not be applied, otherwise, this clause shall not apply and the provisions related to Article A5 of the General Conditions of Fire Insurance
shall be applied.

 

Special
Condition for Compensation Payments for Policies with a Currency of “TRY”

 

Compensation
amount to be paid will be calculated in "TRY".

 

Compensation
calculation will be done as follows:

 

		•	It
                                            is essential that the compensation amount is paid in TRY.

 

		•	If
                                            the amount on the invoice, proforma invoice, bid etc. subject to compensation payments is
                                            in foreign currency, the said amount;

 

		a.	If the
                                            damage has been replaced by the insured before the payment date, the amount on the invoice
                                            for compensation of the damage shall be paid at the Central Bank of Turkey foreign exchange
                                            selling rate on the invoice payment date.

 

		b.	If the
                                            damage has not been replaced by the insured until the payment date, the amount on the proforma
                                            invoice, offer, etc. document is converted to TRY at the exchange rate of the Central Bank
                                            of Turkey on the date of compensation payment.

 

		•	If
                                            the currency of the exemption in the policy is different from TRY, the exemption amount to
                                            be applied in TRY is calculated on the basis of the exchange rate of the Central Bank of
                                            Turkey at the date of the damage. 

 

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 17 / 22

 

     

    

 

Expert
Appointment Clause

 

In
case of possible damages, the insurer shall appoint the expert and the insurer shall pay the expert fee.

 

However,
if the insured also wishes to exercise his/her right to appoint an expert; the Insured must forward his/her request for appointing an
expert to the insurer in writing and the entire fee of the expert appointed by the insured must be paid by the insured.

 

Special
Condition Regarding Damage

 

When
the damage occurs, the compensation can only be paid as a result of the examination and determination of entry and exit and inventory
records and all other documents. The Insured shall not claim any compensation for commodities or fixtures for which it cannot prove its
existence with a document. This issue has been agreed between the parties.

 

Prohibition
of Changes to Damage Areas and/or Things

 

The
Insurer shall not make any changes that will make it difficult or prevent the determination of the cause of the damage or the amount
of damage to the property and the place subject to the damage before the damage is determined. This change can only be made with the
approval of the insurer or for the purpose of reducing the loss. In case of defective breach of this obligation, if there is a causality
between the breach and the loss, the compensation shall be reduced according to the severity of the defect.

 

Obligation
to Report Damage

 

When
the Insurer learns that the risk has occurred, it informs the insurer without delay.

 

If
failure to notify the occurrence of the risk or late notification has caused an increase in the compensation or price to be paid, a deduction
shall be made from the compensation or price according to the severity of the defect.

 

Policy
Scope

 

The
insurance coverage provided to the insured by this policy is limited to the matters specified in the policy and the product booklet/general
condition/special condition/clauses. No circumstance other than those expressly envisaged to be included in the guarantee is under insurance
protection, even if it is not counted separately among the cases excluded from the guarantee.

 

It
is obligatory to document the matters that were entitled to premium discount upon the declaration of the insurer at the time of the contract
in case of damage. Otherwise, deduction shall be made from the damage payable at the rate of premium discount in accordance with the
relevant article of the General Conditions of Insurance.

 

While
the damage compensation is paid, the entire remaining premium debt is deducted from the compensation.

 

Certification
of Payment: All receipts and similar documents given to you in return for your payments must be submitted to our company in order to
pay your damage.

 

You
can submit your suggestions on www.anadolusigorta.com.tr "Your Requests and Complaints" form, "My Insurance is in Mobile"
mobile application or at bilgi@anadolusigorta.com.tr.

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 18 / 22

 

     

    

 

Premium
Payments and Policy Cancellation Clause

 

In
cases where it is decided to pay the premium and premium debt in installments at once in accordance with this policy, the portion of
the premium that should be paid first shall be paid at the latest upon delivery of the policy after the contract is concluded. The place
of payment of the insurance premium is any Türkiye İş Bankası Branch, General Directorate or Regional Directorates
of Anadolu Sigorta or the authorized agency that has mediated the establishment of the insurance contract. Premium payment can be made
by bank receipt, in cash against receipt in the agencies authorized to collect premiums, by credit card, by using the interactive transactions
invoice instruction method of Türkiye İş Bankası or by wire transfer. Payments made to places other than these or
by methods other than those listed above shall not eliminate the premium debt. If the transfer is made, the first premium shall be deemed
to have been paid as soon as the amount transferred is transferred to the insurer's free accounts and the liability of the insurer shall
commence at that time. In cases where it is decided by the insurer to pay the first instalment (advance payment) or all of the premium
by credit card and to give the insurer time to collect this amount from the credit card, the liability of the insurer shall begin with
the withdrawal of the first instalment (down payment) or all of it from the credit card on the agreed day. In case of blocked payment
by credit card, payment shall be deemed to have been made immediately upon blocking the provision of premium receivable from the credit
card.

 

The
dates on which the next installments following the first part of the premium will be paid are specified on the policy. If the insurer
has not paid on this date, it will default and the insurer may terminate the insurance contract by using its rights related to the default.

 

In
the event that the insurance contract is terminated due to default in paying the premium debt, the premium corresponding to the period
for which the liability of the insurer continues shall be calculated on the basis of the day and the excess shall be returned to the
insurer. 

 

Insurance
Information Center Note

 

Persons
who will or will be covered by insurance are deemed to have consented to the acquisition of health information, insurance records and
other information from the Insurance Information and Surveillance Center (SBGM), the Social Security Institution, the Ministry of Health,
health institutions and organizations and insurance companies and to the sharing of the said information and records with the company
with SBGM, insurance companies and authorities authorized in the relevant legislation in order to make a risk assessment by signing the
relevant documents and to finalize the compensation applications.

 

Notice
of Right of Withdrawal

 

Pursuant
to the provisions of the Law on the Protection of Consumers and the related legislation, the Insurer who has not taken out the insurance
for commercial or professional purposes (having the characteristics of a consumer) may exercise the right of withdrawal within 14 days
in distance contracts related to financial services and 7 days in installment sales contracts without giving any justification and paying
penal clause after the establishment of the contract. The notification of the right of withdrawal must be sent to bilgi@anadolusigorta.com.tr
by filling out the declaration form at www.anadolusigorta.com.tr or with an explicit declaration. The right of withdrawal may not be
used in insurance contracts with a period of validity of less than one month and in installment insurance contracts where the insurance
coverage begins with the approval of the insurer. In installment insurance contracts, the insurer who pays the first installment is deemed
to have approved the start of the insurance coverage. The premium amount collected in distance insurance contracts shall be refunded
upon receipt of the notice of withdrawal. The provisions of special legislation shall apply to compulsory insurances.

 

Product
Promotion Permit

 

We
would like your permission to inform you about our price advantages, campaigns, to pay for your damages faster and to offer you attractive
opportunities, in short, to provide you with faster and better service. You can contact us at online.anadolusigorta.com.tr to continue
to receive SMS, e-mail, telephone information, campaign, product/service promotion messages for free and to update your permission information.

 

Digital
Sales Note

 

You
can easily access many insurance services that will make your life easier through our Individual Internet Branch and our mobile insurance
application, Sigortam Cepte.

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 19 / 22

 

     

    

 

Cyber
Attack Exception Clause

 

This
insurance policy excludes damages, losses, liabilities and expenses caused or contributed directly or indirectly by computers, computer
systems, software programs, malicious software, computer virus, computer operations or similar electronic systems or arising from the
harmful use of such program/systems.

 

Special
Condition for Real Rights

 

If
the insurer/insured requests compensation from the insurer in the event that the property subject to the insurance is a real or legal
loss, it shall mean that the insurer/insured has given assurance against the insurer that no other person has the same right on the property
subject to the insurance. In this case, the insurer shall be deemed to be entitled to pay the insurance indemnity to the insurer/insured
without conducting any research on the right holders in kind in its relationship with the insurer/insured. However, if a claim is made
by third parties claiming that they have the same right after the said payment, the insurer/insured accepts and undertakes to return
the compensation received to the insurer in cash and in a single sum in the first request.

 

Sanctions
Clause

 

It
is not possible for governments of countries sanctioned by the United Nations Security Council (UNSC), the European Union, the United
Kingdom and the United States, persons and companies who are nationals/origins of these countries and/or resident in these countries
to be entitled to this insurance contract from the beginning or in any way afterwards. Even if the governments of these countries, persons
and companies who are nationals/origin of these countries and/or reside in these countries are shown as insurers, insured, pledged creditors
or other right holders in this policy, or if the benefit subject to insurance has started to belong to them afterwards or if the rights
arising from insurance have been transferred or transferred to them in any way, the insurance company shall be released from the obligation
to provide and pay all kinds of guarantees and shall not be held liable in any way.

 

This
sanction clause applies to sanctions in force at the time of payment by the insurer, not at the time of the occurrence of the risk.

 

Epidemic
and Infectious Disease Exemption Clause

 

With
this clause, all losses, damages and related direct and/or indirect job losses, whether caused directly and/or indirectly by epidemics
and/or infectious diseases or caused by the fear and threat of epidemics and/or infectious diseases, whether real or rumored, and all
direct or indirect costs arising from the closure, restriction or obstruction of access by the public authority in relation to any contamination/decontamination/disinfection
caused directly or indirectly by the epidemic and/or infectious disease are excluded.

 

Definitions

 

The
transmission of a disease from one organism to another through any active substance has been defined as an Infectious Disease in the
context of:

 

		1.	A virus, bacteria,
                                            parasites or other organisms, or any derivative thereof, living or non-living, are defined
                                            as active substances.

 

		2.	Transmission
                                            between organisms, whether direct or indirect, by air, with body fluids, from any object
                                            or surface to another, solid, liquid or gas, is defined as the route of transmission.

 

		3.	Disease, drug substance; may harm or threaten
                                            human health or well-being, or may damage or threaten property with deterioration, impairment,
                                            loss of market or function.

 

 

 
* LESSOR’s Financial Liability Insurance policy

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 20 / 22

 

     

    

 

ANNEX
14: Environmental study report made before the start date of the lease agreement in the place subject to the lease

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 21 / 22

 

     

    

 

This agreement consists of 8 (eight) main articles and 14 (fourteen)
annexes and this agreement has been signed by the parties on 10/08/2020 as 2 (two) original copies indicating that the immovable subject
to lease was leased with the consent of the two parties and under the conditions written above.

 

	LESSOR	 	LESSEE
	 	 	 
	A. Vedat Yakupoğlu Gayrimenkul Yatırımcılığı	 	D-MARKET Elektronik ve Ticaret A.Ş.
	 	 	 
	/s/ A. Vedat Yakupoğlu Gayrimenkul Yatırımcılığı	 	/s/ D-MARKET Elektronik ve Ticaret A.Ş.

 

    
	ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ	 
	Policy No: 105215621	Page: 22 / 22

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