Communiqué on Decision No. 32 regarding the Protection of the Value of the Turkish Lira

Dear Business Associate,

On April 19, 2022, the Official Gazette, Issue No. 31814, published the Communiqué Concerning the Change to be Made in the Communiqué (Communiqué No. 2008-32/34) on Decision No. 32 regarding the Protection of the Value of the Turkish Lira.” Accordingly,

residents of Turkey who will be enacting contracts between one another (outside of vehicle contracts) for the sales of goods will be required to fulfill or accept foreign exchange obligations or contract fees that have been based on foreign exchange and all other payment obligations arising from such contracts in Turkish Liras.

Therefore, we will only be accepting payment obligations arising from invoices related to contracts for the sale of goods issued as from April 19, 2022 (this date included) in the Turkish Lira currency. The foreign exchange rate to be used for converting the specified amount into Turkish Lira will be the foreign exchange sales rate announced by " + "the Republic of Turkey Central Bank on the day of payment.

Kindly submitted for your information,

Yours faithfully,