With respect to the Initial Public Offering (“Offering”) of the shares of Naturelgaz Sanayi ve Ticaret A.Ş. (“Naturelgaz”), a 95.5% subsidiary of Global Investment Holdings (“GIH”) and Turkey’s & Europe’s leading CNG (Compressed Natural Gas) supplier and distributor in terms of mother station infrastructure and bulk sales volume; The Board of Directors of Global Investment Holdings resolved on 12th August 2020 to approve and participate in the Offering. The Offering will comprise 25,000,000 newly issued shares to be offered by Naturelgaz in addition to 9,090,909 existing shares by the existing shareholders. 8,854,775 of the existing shares shall be offered by GIH, of which 4,267,451 will be for the purpose of exchanging same number of privileged shares currently held by a minority shareholder, leaving GIH with net offered shares of 4,587,324. GIH shall also make 3,409,091 existing shares available pursuant to an over-allotment option. Hence, at the Offering all existing minority shareholders at Naturelgaz with total shares of 4,503,585 would have sold their shares, whereas including the over-allotment option total net number of shares offered by GIH would be 7,996,415. Once the offering is materialized, there will be no privileged shares in the company’s share structure. The shares will trade on Borsa Istanbul. GIH will remain the largest individual shareholder in Naturelgaz following the Offering; while the free-float is expected to be c.30% upon the completion of the offering including the over-allotment option.

Additionally, on 10th August 2020, Vakıf Yatırım Menkul Değerler A.Ş. and Global Menkul Değerler A.Ş. were appointed as Lead Manager and Co-Lead Manager, respectively, in connection with the offering.

Pursuant to CMB’s Communiqué on Shares (VII-128.1), the application for the approval of the draft Domestic Prospectus prepared for the initial public offering of Naturelgaz’ shares has been submitted to the Capital Markets Board of Turkey on 14th August 2020. The draft Domestic Prospectus is also available on Naturelgaz’ website at www.naturelgaz.com

Completion of the Offering is conditional upon (i) receipt of customary regulatory approvals of the Capital Markets Board of Turkey and Borsa Istanbul and (ii) finalizing the book-building process.

A further announcement on the initial public offering of Naturelgaz will be made when it is appropriate to do so.

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