Dear Stakeholders,

2023 has been a tough year in our region with an ongoing war between Ukraine and Russia and the new war between Israel and Hamas and a general election in May. We were behind budget in the first half of the year however managed to catch up in the second half. Our investments will continue uninterrupted in 2024.Our packaging company Işıklar Ambalaj has invested in a universal Windmöller&Hölscher sack line and our sack factory in northern Iraq,Arbil has invested in a cement sack line from Windmöller & Hölscher and both factories will extend their closed spaces by 3600M2 each to accommodate the new machines and as a result Işıklar Ambalaj Çumra plant will increase capacity by 25% while Packaging sack Arbil will be doubling her capacity.We will be in a much stronger position to meet the growing demand.

Our foundry company Çemaş Castings is planning to complete her 2.nd Solar Energy investment of 12 MW in 2024 to come closer to her sustainability target. Our construction company Ozisik Insaat is planning to start her 200 flat real estate development project in Bartin while her wholly owned subsidiary in Bulgaria,Işıklar Real estate EOOD will be starting her 60 flat proect in 1st quarter of 2024. Çimtek Engineering has contracted a 28 mio $ port extension,coal and cement storage and transportation project for Yeşilovacık Port operations company in Silifke/Mersin,Turkey and aims to complete the works in 2024.

In line with our export targets of more than 50% of sales, all group companies are continuing their efforts for developing new products and finding new export markets non-stop. I wish that the new year will bring health,happiness and success to you and your loved ones and peace to our region.

I remain,

Yours sincerely,

Best regards,

Rıza Kutlu Işık

Chairman