HUMAN-SPACE-LIFE Human

HUMAN-SPACE-LIFE Human... Space... Life. 2014 ANNUAL REPORT Operating in the construction sector, we conduct our business activities by strengthening concrete, steel and each square meter of construction, backed by our many TEPE İNŞAAT 2014 ANNUAL REPORT years of experience and our innovative ideas.

We construct “living buildings” that breathe and share life with people; buildings that add value to life in each and every square meter.

This year, we present our annual report accompanied with a special project. We reveal the human-space synergy and this unique harmony using snapshots by Mehmet Turgut, one of the leading photographers in Turkey and the world.

www.tepeinsaat.com.tr

HUMAN-SPACE-LIFE MEHMET TURGUT

TEPE İNŞAAT 2014 ANNUAL REPORT Who is Mehmet Turgut?

Mehmet Turgut, named after his grandfather, was born on July 21, 1977 in Ankara. His profession as a photographer has truly shaped his destiny. For many years, he conducted studies on theoretical photography, printing techniques, coloring, pencil drawing and photo processing. Over time, he devoted him- self to producing and shooting fictional photographs. He has received numerous awards both in Turkey and abroad, from world-renowned organizations such as the Photographic Society of America (PSA) and Austria Super Circuit. Some examples of his recent work include cover photographs for the “19 Best of Patricia Kaas” album of the world famous French singer; cover photographs used for “Live in Europe,” a concert album by Dutch musician Anneke van Giersbergen; and cover photos for “Let It Die,” the latest single from Ozzy Osbourne. In 2009, Mehmet Turgut was named “The Year’s Photography Artist” by the Turkish Art Institution. He is also the owner and creative director for “46” magazine, which has been published since March 2010.

At a Glance 4 Key Indicators in 2014 10 Major Developments in 2014 12 Tepe İnşaat in Brief 16 Vision, Mission and Corporate Values 20 Key Financial Indicators 21 Subsidiaries and Affiliates 22 Bilkent Holding 28 A 46-Year History Dedicated to Creating Long-Term Value 42 Message from the Management 44 Board of Directors, Senior Management Operations in 2014 48 Projects 48 Business Development and Operation Map 72 Subsidiaries 72 TAV Havalimanları (TAV Airports) 86 TAV İnşaat (TAV Construction) 92 İDO (Istanbul Sea Buses) Sustainability 100 Human Resources Policy 102 Occupational Safety, Environmental and Quality Policy 106 Bilkent University Financial Statements 109 Independent Auditors Report, Financial Statements and Footnotes Operating in the construction sector, we conduct our business activities by strengthening concrete, steel and each square meter of construction, backed by our many years of experience and our innovative ideas.

We construct “living buildings” that breathe and share life with people; buildings that add value to life in each and every square meter.

HUMAN, SPACE, LIFE 1 2 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE HUMAN, SPACE, LIFE 3 Key Indicators in 2014

1,334,939 885 Equity Size (TL Thousand) Total Park Mozaik Residence Units Backed by a professional management approach gained through many Park Mozaik Tepe & Mesa Project, carried out by a Tepe İnşaat and years of experience and deep industry expertise, Tepe İnşaat increased Mesa Mesken joint venture, is a development consisting of 885 residen- its equity to TL 1,334,939 thousand in 2014. tial units to be built on a 74,000 m2 tract in Yaşamkent, Ankara.

49,076 US$ 51.5 million Net Sales Revenue (TL thousand) Total Investment Value of Kozyatağı Anadolu Gayri- Tepe İnşaat extended its successful operational track record in 2014, menkul Plaza posting net sales revenue of TL 49,076 thousand. Tepe İnşaat aims to develop Kozyatağı Anadolu Plaza Project in cooperation with AEH Gayrimenkul Yatırımları A.Ş. on a 73,000 m2 tract of th land in Kozyatağı, Istanbul. The project has a total value of US$ 51.5 217 million Place on ENR Top 250 List Having made a distinguished name for itself by completing quality pro- tons jects in different industry segments, Tepe İnşaat ranked 217th on the 360,000 ENR Top 250 List 2014 of the world’s leading construction companies. Total Capacity of Turkmenistan Silo Project In 2014, Tepe İnşaat completed construction of eight silos with total capacity of 360,000 tons, contracted in Turkmenistan.

4 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE İş Towers, Levent, Istanbul

HUMAN, SPACE, LIFE 5 Atatürk Airport, Yeşilköy, Istanbul

6 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE Istanbul Sea Buses, Yenikapı Dock, Istanbul

HUMAN, SPACE, LIFE 7 Kanyon Shopping Center, Levent, Istanbul

8 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE HUMAN, SPACE, LIFE 9 Major Developments in 2014

Placing great importance on meeting its responsibilities to the natural environment in all company operations, Tepe İnşaat adopts and implements international quality and environmental standards in its construction projects.

Park Mozaik, Ankara Park Mozaik, Ankara

Narlife Project: First phase delivery completed A new business center is rising on Istanbul’s Asian side First phase residence units of Narlife Project, Tepe İnşaat’s second residen- Enjoying long-standing experience in the “smart” business center segment, tial development in Maltepe, Istanbul following the Narcity Project, were de- Tepe İnşaat plans to complete construction of the Kozyatağı Anadolu Plaza livered to clients in 2014. Block C, with 609 total flats and constructed on a Project, currently underway in Kozyatağı, Istanbul, in cooperation with AEH 30,000 m2 tract, was completed in March 2014, one year ahead of schedule. Gayrimenkul Yatırımları A.Ş., in July 2015. Situated in one of the densest Units in Block A and B will be delivered in March 2015, as planned. The de- commercial districts on the Asian side of Istanbul, the project is being deve- velopment project also includes social facilities of about 2,000 m2, an indoor loped on a 73,000 m2 tract and has a total value of US$ 51.5 million. and outdoor swimming pools, outdoor sports facilities and walking trails. Construction and sales efforts for Park Mozaik are un- Environmentally friendly projects nominated for LEED® derway certification In August 2014, construction and sales for the Park Mozaik Project, conduc- Placing an utmost priority on fulfilling its environmental responsibilities in ted by a Tepe İnşaat and Mesa Mesken joint venture in Yaşamkent, Ankara, all company operations, Tepe İnşaat adopts and implements international commenced on a phase-by-phase basis. The residential development, con- quality and environmental standards in its construction projects. To this sisting of 885 units to be constructed on a 74,000 m2 tract, comprises social end, the Company’s Narlife and Park Mozaik development projects have facilities for all types of recreational activities, impressive and functional been nominated for LEED® certification, which is awarded by the US Green landscaped areas, and floor plans that offer various alternatives beyond the Buildings Council (USGBC). With these two “green” projects, Tepe İnşaat en- routine. sures a high quality of life for the development’s residents using a wide variety of means, from energy saving techniques to natural recreational areas.

10 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE İş Towers, Levent, Istanbul

HUMAN, SPACE, LIFE 11 Tepe İnşaat in Brief

Guided by Prof. Dr. İhsan Doğramacı’s philosophy, “further, toward the best,” Tepe İnşaat makes significant contributions to the nation’s economy by continuously expanding its top-line project portfolio.

Operating in the construction business, the leading sector in adding value to the national economy, Tepe İnşaat has a strong brand reputation thanks to the many high quality and high profile development projects it has completed, especially in the international market. Backed by 46 years of industry experience, the Company pioneered the training of qualified personnel as needed by the Turkish construction sector.

Focused on creating value for all stakeholders, and especially the main shareholder Bilkent Holding A.Ş., the Company is an industry standout in demonstrating a sustainable financial performance and embracing high quality standards. Tepe İnşaat abides by Bilkent University founder Prof. Dr. İhsan Doğramacı’s philosophy “Further, toward the best.” To this end, the Company’s portfolio of high-profile projects include housing developments; shopping malls; office complexes; healthcare facilities; educational facilities and campuses; sports and recreational facilities; hotels; military facilities; power plants and industrial facilities; transportation infrastructure and roads; religious facilities; urban infrastructure; pipelines and water supply infrastructure; renovation and pre-engineered projects. The Company makes valuable contributions to Turkish Economy by extending its project portfolio consistently.

Driven by its well-skilled human resources and well-established brand reputation, Tepe İnşaat reported registered capital of TL 800,000,000 as of December 31, 2014.

Share Participating Company’s Shareholders Class TL Share (%) Bilkent Holding A.Ş. A 1 0 Bilkent Holding A.Ş. B 689,765,170 86.28 Tepe Emlak Yat. İnş. A.Ş. B 104,000,091 13 Tepe Savunma ve Güv. Sis. A.Ş. B 5,672,386 0.7 Tepe Home Mob. Dek. Ürün San. ve Tic. A.Ş. B 562,352 0.02

12 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE Narcity, Maltepe, Istanbul

HUMAN, SPACE, LIFE 13 Esenboğa Airport, Esenboğa, Ankara

14 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE Kanyon Shopping Center, Levent, Istanbul

HUMAN, SPACE, LIFE 15 Vision, Mission and Corporate Values

Vision Corporate Values • To provide resources to Bilkent University, the principal shareholder, and make a tangible contribution to national education; Possessing a Sense of Responsibility • To provide added value to the national economy by producing and genera- • To be aware of its responsibilities towards customers, employees and ting employment; suppliers, as well as to the environment and the wider community. • To pursue its activities with respect for ethical values, in order “to survi- • To undertake only the services it is capable of offering under turnkey inf- ve,” and “be trustworthy,” in accordance with its mission and vision of be- rastructure projects, as well as investment projects, from concept design coming a leading company across different business lines, and on a global to final delivery, including land, funding, design, construction and marke- scale, and of establishing a presence in diverse geographical regions. ting phases, and to execute all contracts comprehensively.

Mission Adhering to Ethical Values and Laws • To create the necessary resources for Bilkent University to continue deve- • To adhere to ethical rules and laws to the fullest extent in striving towards loping and growing; best service and product quality in its field of activity, observing competi- • To make a contribution to Turkey’s future by transferring the values and tion, efficiency and profitability. To comply with all laws and regulations resources it created at the establishment of Bilkent University, Turkey’s applicable in the national, as well as overseas regions where projects are first foundation university and one of the country’s most distinguished implemented. educational institutions; • To focus on success in each project undertaken for each new client, whet- Being Customer Satisfaction Oriented her it is an institution or an individual, without compromising on quality, • To ensure continuous customer satisfaction by taking into consideration with complete confidence in its human resources, by considering environ- evolving and growing customer expectations. mental sustainability and by incorporating global technological develop- • To establish clear and transparent communication with customers, while ments and contemporary demands; providing services in a timely manner according to its commitments. • To introduce innovations to the industry while developing a variety of construction projects in both Turkey and abroad. Creating Global Value • To contribute to the environmental, economic, social and communal development of each region where the Company’s projects are realized.

Sharing the Success • To share the successes attained with its employees, customers, business associates and the community.

16 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE HUMAN, SPACE, LIFE 17 Bilkent Station, Bilkent, Ankara

18 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE HUMAN, SPACE, LIFE 19 Key Financial Indicators

Tepe İnşaat once again maintained operational profitability in 2014, thus instilling confidence in the Company’s stakeholders.

Balance Sheet Figures (TL Thousand)(*) 2014 Liquidity Ratios(*) 2014 A-Current Assets 836,725 Current Ratio 3.92 B-Fixed Assets 1,016,265 Acid Test Ratio 3.83 Total Assets 1,852,991 Cash Ratio 1.05 A-Short-term Foreign Liabilities 213,450 Operating Ratios(*) 2014 B-Long-term Foreign Liabilities 304,601 Accounts Receivable Turnover Rate 0.85 C-Shareholders’ Equity 1,334,939 Debt Collection Period 427.56 Current Assets Turnover Ratio 0.06 (*) Prepared according to the stand-alone financial statements. Net Working Capital (TL) 623,275,577.73

Income Statement Figures(*) 2014 Net Working Capital Turnover Ratio 0.08 Tangible Fixed Assets Turnover Ratio 0.29 Net Sales 49,076 Total Assets Turnover Ratio 0.03 Cost of Sales (-) 37,015 Equity Turnover Ratio 0.04 Gross Sales Profit or Loss 12,060 Operating Expenses (-) 5,011 Financial Leverage Ratios(*) Operating Profit or Loss 7,049 Financial Leverage Ratio 0.28 Revenues and Profits from Other Operations 75,809 Financing Ratio 2.58 Expenses and Losses from Other Operations (-) 14,690 Ratio of Equity to Total Assets 0.72 Financial Expenses (-) 10,761 Ratio of Short-term Debts to Total Liabilities 0.12 Ordinary Profit or Loss 57,406 Ratio of Short-term Debts to Total Debts 0.41 Extra-ordinary Profits and Revenues 41,927,864.89 Ratio of Long-term Debts to Total Liabilities 0.16 Revenues and Profits from Previous Period 709,420.09 Other Extra-ordinary Profits and Revenues 41,218,444.80 Ratio Analysis Pursuant to the Public Extra-ordinary Expenses and Losses (-) 68,917,627.28 Procurement Law(*) Expenses and Losses from Non-working Segments (-) 0.00 Current Ratio 17.93 Expenses and Losses from Previous Period (-) 1,836,618.93 Ratio of Equity to Total Assets 0.958 Other Extra-ordinary Expenses and Losses (-) 67,081,008.35 Ratio of Short-term Financial Liabilities to Total Equity 0.00 Expenses or Losses for the Period 30,416,657.23 (*) Prepared according to the stand-alone financial statements. (*) Prepared according to the stand-alone financial statements.

20 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE Subsidiaries and Affiliates (as of 31.12.2014) Company Name Total Capital Participation Amount Participation Share (%) Ankara Teknoloji A.Ş. 9,600,000 1,106,032 11.52 Antepe Sağlık ve Turz. Hizm. Tic. Danş. A.Ş. 3,000,000 2,975,000 99.17 Travelex Döviz Ticaret A.Ş. (Artı Döviz A.Ş.) 4,500,000 562,500 12.50 Batı Karadeniz Elektrik Dağıtım A.Ş. 1,400,000 294,000 21.00 Bilenerji A.Ş. 30,550,000 4,530,047 14.83 Bilan Bilkent Ankara Tepe Otel A.Ş. 5,500,000 2,694,723 48.99 Bilbak Bilkent Bak. A.Ş. 500,000 450,070 90.01 Bilintur A.Ş. 57,500,000 21,500,000 37.39 Bilintur Kültür Turizm Yat. ve Tic. A.Ş. 100,000 49,997 50.00 Bilen Bilkent Enerji Yat. A.Ş. 1,150,000 1 0.00 Bilsigorta A.Ş. 1,000,000 400 0.04 Bitu Turizm ve İnşaat Yatırım A.Ş. 50,000 2,500 5.00 C.B. Spolka Zograniczona Odp. - Poland 7,843,277 2,221,970 28.33 Dilek İnşaat A.Ş. 22,000,000 2,968,610 13.49 Hyper Foreign Trade - Holland 137,019 73,394 53.56 Kirazlı Konutları Adi Ortaklığı 10,000 2,250 22.50 Knauf İnşaat ve Yapı Elm. A.Ş. 208,719,293 4,118 0.00 Meteksan Matbacılık A.Ş. 90,000,000 5,864,454 6.52 Meteksan Savunma A.Ş. 10,000,000 607,310 6.07 Optisis İletişim ve Bilgi Teknolojileri A.Ş. 300,000 3,000 1.00 Park Villa İnşaat ve Turizm A.Ş. 500,000 250,000 50.00 Pft Sıva Sistemleri A.Ş. 15,000 13 0.01 Sports International A.Ş. 26,000,000 21,888,158 84.19 İDO İst. Deniz Otobüsleri San. ve Tic. A.Ş. 210,900,000 63,270,000 30.00 Tav Esenboğa Yatırım Yapım ve İşl. A.Ş. 241,650,000 10 0.00 Tav Havalimanları Holding A.Ş. 363,281,250 29,273,852 8.06 Tav Yatırım Holding A.Ş. 100,500,000 24,346,000 24.22 Tepe Betopan A.Ş. 30,000,000 22,200,000 74.00 Tepe Emlak Yatırım İnş. ve Tic. A.Ş. 225,000,000 151,047,069 67.13 Tepe Home A.Ş. 168,000,000 70,497,334 41.96 Tepened Investment B.V. 93.585.200 93.585.200 100 Tepe İnşaat ve Ticaret (Kıbrıs) Limited 145,000 144,565 99.70 Tepe Mesa Adi Ortaklığı 1,000,000 500,000 50.00 Tepe Nacap İş Ortaklığı 50 35 70.00 Tepe Prefabrik İnşaat Sanayi ve Tic. A.Ş. 12,000,000 10,213,333 85.11 Tepe Savunma ve Güv. Sist. A.Ş. 30,000,000 18,779,952 62.60 Tepe Servis ve Yönetim A.Ş. 6,000,000 1,039,919 17.33 Tepe Tesan Adi Ortaklığı 100,000 60,000 60.00 Tepe Türkmen A.Ş. 1,000,000 550,000 55.00

HUMAN, SPACE, LIFE 21 Bilkent Holding

Companies operating under the umbrella of Bilkent Holding are leaders in their respective sectors. These exemplary enterprises lead in terms of turnover and market share with their sustainable financial and operational performance, and in implementing a strong corporate governance approach.

The foundations of Bilkent Holding, one of Turkey’s pioneering private sector Matbaa is a significant player in the printing-paper industry with an annual corporations with the many prestigious brands it includes, dates back to Dilek production capacity of nearly 100,000 tons; the company is widely known for İnşaat, established by İhsan Doğramacı in 1968. In 1969, Tepe Ağaç Metal its product range and diversity. ve Makina Sanayi and Meteksan were founded. During a fundamental restructuring in 1986, these companies were gathered under the roof of Bilkent Tepe Emlak has been involved in the construction of seven shopping centers in Holding. Turkey and the operation of the Ankara Bilkent Center as well as the Istanbul Tepe Nautilus shopping malls. The company continues to create retail venues Focused on creating significant value for partners and stakeholders since its that become centers of attraction thanks to the experience and know-how it has inception, Bilkent Holding has always prioritized customer satisfaction, profi- gained since the shopping center sector became more institutionalized. Tepe tability and excellence in quality in all industries in which it operates. Condu- Savunma is another company that has achieved stable growth under the Bilkent cting operations within a broad range of industries that include construction, Holding roof. Bilintur, founded by the Holding to operate in hotel management furniture retailing, printing and paper production, real estate and airport ma- and catering, also continues to steadily increase its market share with custo- nagement services, Bilkent Holding has extended its deep-rooted experience mer-focused business processes and high quality standards. and know-how to international markets, with operations in the Middle East, North Africa, Turkic Republics, Eastern Europe and Russia. While working As Turkey’s largest cement board manufacturer, Tepe Betopan ranks among the to further expand its operating area and geographic reach, Bilkent Holding three largest cement-bonded particleboard producers in the world and exports currently ranks among the 50 largest corporate groups in Turkey, according its products to regions around the globe. The primary factor that ensures the to both domestic and international business information sources. success of Bilkent Holding’s operations is the Group companies’ ability to form new subsidiaries and to support the Holding’s total profitability without com- Companies operating under the umbrella of Bilkent Holding are leaders in the- promising on corporate values and principles. The most prominent example ir respective sectors. These exemplary enterprises lead in terms of turnover of this business model that has provided substantial added-value for Bilkent and market share with their sustainable financial and operational performan- Holding is TAV Havalimanları ve Yatırım Holding, which was founded under a ce, and in implementing a strong corporate governance approach. Tepe İnşaat, Tepe-Akfen partnership. Other key factors that have moved the Holding forward Bilkent Holding’s flagship company in the construction industry, comes to the during its corporate development, known as the “Journey toward Excellence,” forefront with its robust operations in Turkey as well as successful projects are its professional approach to human resource management, which is based completed abroad. The Company expanded its operations by taking the high on finding the ‘right person for the right job,’ and the implementation of envi- quality standards and strong brand image achieved by the Tepe brand in the ronmentally friendly practices. construction sector to the furniture and retail industries. While Tepe Mobilya produces tailor-made designs to achieve high levels of customer satisfaction, Setting its future targets within the framework of a five-year strategic plan, Bil- Tepe Home undertakes the marketing/sales efforts for Tepe Mobilya products. kent Holding maintained its sustainable financial and operational performance Tepe Home also introduced the mass merchandising concept to the Turkish in 2014. The Holding focuses on bolstering its market leadership in its ope- furniture market, and is the innovative force in the sector. Bilkent Holding is rating sectors. In addition, the Holding closely monitors collaborative projects rapidly expanding its operations in the furniture and retail industries, trans- undertaken by public and private sectors, privatizations, overseas investment ferring the high quality standards and powerful brand image gained with the opportunities and investment projects with the help of advanced technology Tepe brand in the construction industry. Tepe Home Mobilya produces and applications and its specialized staff. Making significant contributions to the de- sells tailor-made designs to achieve high-level customer satisfaction. As the velopment of the Turkish private sector and powered by more than 40 years of leading innovative brand in the industry, Tepe Home Mobilya has introduced experience, Bilkent Holding remains committed to generating added value for the megastore furniture retailing concept to Turkey. Meanwhile, Meteksan Turkey in the coming year, with the Holding’s robust and innovative operations.

22 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE Bilkent University, Bilkent, Ankara

HUMAN, SPACE, LIFE 23 Bilkent University Odeon, Bilkent, Ankara

24 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE Bilkent University Concert Area, Bilkent, Ankara

HUMAN, SPACE, LIFE 25 Esenboğa Airport, Esenboğa, Ankara

26 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE HUMAN, SPACE, LIFE 27 A 46-Year History Dedicated to Creating Long-Term Value...

1980s 2000s

1982 2000

Bilkent University Campus Turkish Armed Forces Rehabilitation Center Turkey’s first foundation university was established in October 1984 by the Built on a total area of 102,500 m2, with a 400-bed capacity, this facility was İhsan Doğramacı Foundation. Classes started with 386 students in 1986; established to provide rehabilitation services to military veterans. The faci- today, the University has 12,000 students in nine faculties, two professional lity design was selected as a result of an architectural competition. schools, three vocational schools and six institutes. Bilkent graduates are among Turkey’s most valued human capital. The Bilkent Campus lies within İş Bankası Headquarters Complex the boundaries of Bilkent, a city created over the course of 15 years on the Turkey’s first smart building, the İş Bankası Headquarters Complex is one plains of Ankara. On 612 hectares, Bilkent is a “City of Science” that me- of the most magnificent high-rises in Istanbul. Located in the urban heart ets every need with its campus, residences, business and shopping centers, of industry, commerce and culture, it represents a significant example of a sports complex, concert halls, hotel and movie theaters, dam, power plant, smart building, not only in Turkey but also in Europe and the Middle East. forest and symphony orchestra. İş Bankası Headquarters Complex is the highest skyscraper between Dubai and Frankfurt with its two towers, 52 and 36 stories, respectively. 1990s 2001 1999 Beykoz Mansions Built on 100 hectares in the Saip Molla Pasha Woods in Beykoz, Istanbul, Atatürk Airport (Build-Operate-Transfer) Beykoz Mansions is one of Tepe İnşaat’s most prestigious developments. Built by the joint venture of the Tepe and Akfen groups (TAV), the Interna- The 401 mansions are in perfect harmony with their natural surroundin- tional Terminal of the Istanbul Atatürk Airport was completed and started gs. Concurrently nostalgic and modern, the development’s environs harken operating within two years. A company specialized in airport construction, back to a time two-centuries prior. The historical Hunting Lodge, which was operation and financing, today, TAV is an international power house, an renovated true to its original form, serves residents with a library, billiards industry leader in Turkey and is among the most prominent companies in tables, gaming and event lounges, a spacious garden designed for large re- the Middle East, North Africa and the Caucasus. The New International Ter- ceptions and a kitchen. Beykoz Mansions ranks among the most exclusive minal of the Atatürk Airport commenced operations on December 22, 1999. residences in Istanbul. With an additional facility launched in 2004, the capacity of the terminal increased from 14 million passengers to 20 million annually. In July 2005, Tepe Nautilus Shopping Center TAV also undertook operations at the Atatürk Airport Domestic Terminal. Nautilus or Lighthouse Shopping Center was inspired by the seaside around With an area of 62,500 m2, the Domestic Terminal has been modernized to Kadıköy, on the Asian side of Istanbul, one of the most historic coastal cities accommodate an average of 7.5 million passengers each year. The Develop- in the world. Nautilus is the largest retail center on Istanbul’s Asian side. ment and Expansion Project at the Domestic Terminal entered its final phase With its luminous design, Nautilus offers visitors a comfortable shopping in 2010 and yielded a total additional covered space of 18,770 m2. environment throughout the day.

28 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE İş Towers, Levent, Istanbul

HUMAN, SPACE, LIFE 29 Kanyon Shopping Center, Levent, Istanbul

30 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE Kanyon Shopping Center, Levent, Istanbul

HUMAN, SPACE, LIFE 31 A 46-Year History Dedicated to Creating Long-Term Value...

2002 2006

Kemer Rose Residence Narcity Housing Development The housing estate, built in Kemerburgaz on a 35,000 m2 tract among Built on approximately 147,000 m2 in Maltepe, Istanbul, the Narcity comp- unique rose gardens, comprises 70 blocks and offers a tranquil lifestyle in lex is landscaped primarily with pomegranate trees, reflecting the name touch with nature. The sports facilities of Kemer Rose Residence also provi- ‘nar’, Turkish for pomegranate. Built in compliance with the latest earthqu- de residents a wide range of fitness and exercise options. ake regulations, Narcity Housing Development consists of 1,306 units with state-of-the-art soundproofing, heating and water insulation systems. With 2004 high-quality materials and workmanship as well as its extensive social facilities and security systems, Narcity Housing Development is a strong candi- The Eczacıbaşı Kanyon Project date as one of Istanbul’s favorite residential destinations. The Development Kanyon is a modern open-air shopping center built by Tepe İnşaat in Istan- project, launched in January 2006, is now being populated. bul. Kanyon houses 160 stores, a gourmet supermarket, street market, movie theaters, restaurants, cafeterias, bars, a sports and health center, indoor 2006 and outdoor swimming pools and open-air performance venues, residential and office buildings and shopping and entertainment centers. Kanyon was Esenboğa Airport built by the partnership of Eczacıbaşı and İş Gayrimenkul on an area of Esenboğa Airport provided Ankara with a facility that suits the capital city. 250,000 m2 in compliance with domestic and international earthquake re- With an annual capacity of 10 million passengers, Esenboğa Airport is the gulations. only airport in Turkey that combines domestic and international terminals under one roof. Completed one year ahead of schedule, it has become the 2005 modern face of Turkey’s capital.

Baku-Tbilisi-Ceyhan Crude Oil Pipeline 2007 Tepe İnşaat participated in the construction of the 277-kilometer section of the BTC pipeline and pumping stations between Posof and Erzurum. Bilkent Garden Homes Other projects carried out in 2005 include: Bilkent Garden Homes consists of 124 twin-villas built on 123,000 m2. Set • İmranlı-Kayseri Natural Gas Pipeline, amid superb natural beauty, the villas are 500 m2 each and equipped with • Kütahya-Bilecik-Uşak Natural Gas Pipeline. state-of-the-art technology. The complex includes two playgrounds for children, an observation deck, jogging tracks, swimming pool, game room, fitness center with sauna, cafeteria, tennis, basketball and volleyball courts. Bilkent Garden Homes has been designed to meet the social needs of its residents. Situated in an urban location far from the hustle and bustle of the city and combining the beauty of nature with the amenities of contemporary living, Bilkent Garden Homes has generated great interest. The development project was launched end of 2005 and was completed at the end-2007. All units were sold before the construction was actually completed.

32 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE Bilkent Garden Homes, Bilkent, Ankara

HUMAN, SPACE, LIFE 33 Bilkent Garden Homes, Bilkent, Ankara

34 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE Bilkent Garden Homes, Bilkent, Ankara

HUMAN, SPACE, LIFE 35 A 46-Year History Dedicated to Creating Long-Term Value...

2008 2010

Hacettepe University Hospitals: The Morphology Building and Narkule Istanbul Seventh and Eighth Block Retrofits Built in Maltepe, Istanbul on a tract adjacent to Narcity, the Narkule deve- Completed in December 2008, the hospital project has a total construction lopment was designed as a boutique project targeting the joys of living in area of 28,500 m2. As part of this project, among the most important un- a high-rise with modern architecture. With the slogan, “Some Like It High,” dertaken by Tepe İnşaat for Hacettepe University, the seventh and eighth Narkule combines contemporary architecture with a youthful, dynamic, dig- blocks and the Morphology Building were reinforced against earthquakes. nified and colorful style coupled with high-quality living standards and bre- Departments such as Internal Medicine, Urology, Neurology, General Sur- athtaking scenery. Most of the 108 residential units in the 27-story Narkule gery, Brain Surgery and Gastrology were renovated at the seventh block. development project have a splendid view of the forest, sea and the islands. In addition, departments of Biochemistry, Microbiology, Endocrinology, Geriatrics, Nephrology, Infection, Rheumatology, Hematology, Gastrology, 2011 Coronary Intensive Care and the Emergency Room laboratories as well as the inpatient floor were refurbished in the Morphology Building. The project Privatization of Istanbul Sea Buses was completed and delivered as of December 2008. İstanbul Deniz Otobüsleri Sanayi ve Ticaret A.Ş. (İDO) was established in 1987 in an effort to help resolve traffic congestion in Istanbul. Now consi- 2009 dered one of the largest maritime transport fleets in the world, it was taken over for US$ 861 million by the Tepe-Akfen-Souter-Sera (TASS) consortium. Tepe Prime This company, of which Tepe İnşaat has a 30% share, has undertaken im- Tepe Prime Business, Tepe Prime Residence and Tepe Prime Avenue with portant initiatives to expand its transportation network and infrastructure. an indoor area of 92,800 m2, aim to provide absolute comfort to its residents and guests. The development project was completed in 2011.

36 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE Tepe Prime, Bilkent, Ankara

HUMAN, SPACE, LIFE 37 38 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE HUMAN, SPACE, LIFE 39 A 46-Year History Dedicated to Creating Long-Term Value...

2012 Kozyatağı Anadolu Gayrimenkul Plaza, İstanbul TAV Havalimanları A.Ş. Share Sale In 2012, Tepe İnşaat transferred an 18% stake in TAV Havalimanları A.Ş. to Aéroports de Paris Management, one of the world’s leading airport operators, for US$ 414 million. Upon successfully closing this sales transaction, realized in a period when global markets suffered serious fragility, JCR Eu- rasia Rating affirmed the long-term domestic rating of Bilkent Holding, the Company’s principal shareholder, as “A-(Trk),” and its outlook as “stable.” Subsequent to this sale transaction, which considerably fortified the financial performance and market efficiency of both Tepe İnşaat and Bilkent Hol- ding, the Company’s stake in TAV Havalimanları A.Ş. amounted to 8.1%.

Narlife Project In 2006, Tepe İnşaat entered the housing sector at a brisk pace with its Nar- city and Narkule developments completed in the Maltepe region of Istanbul, and commenced the construction works of the Narlife project in the same region. Located on a total area of 29,500 m2 with Princes’ Islands views, the development project offers 609 flats with one, two, three or four bedroom and duplex apartment options, together with social facilities of 2,000 m2 made available to residents, comprising outdoor and indoor swimming pools and a children’s pool, as well as a playground, sauna, fitness hall, market and café, together reflecting the Tepe İnşaat blend of quality and aesthetics. Bringing a fresh perspective to the housing sector, the Narlife development is planned for completion in March 2015.

2013

Park Mozaik Project Tepe İnşaat entered into a cooperation agreement with Mesa Mesken to develop the Park Mozaik development project, which consists of 885 residential units on a 74,000 m2 tract in Yaşamkent, Ankara. Construction and sales were started in 2014.

Construction of Silos with a Total Capacity of 360,000 Tons in 8 2014 Different Regions of Turkmenistan Kozyatağı Anadolu Gayrimenkul Plaza Tepe İnşaat completed the silo design and construction project, with total The Kozyatağı Gayrimenkul Anadolu Plaza Project, which is being develo- capacity of 360,000 tons and located in eight provinces of Turkmenistan ped in Kozyatağı, Istanbul in collaboration with AEH Gayrimenkul Yatırımla- (Altınsahra, Tejen, Babadayan, Karakum, Garıssızlık, Sparmyrat, Boldum- rı A.Ş., will be built on a 73,000 m2 tract of land. The total value of the project saz, Beyik), in May 2014. The project also includes rehabilitation of adjacent amounts to US$ 51.5 million; the development is scheduled for completion areas. in July 2015. The Kozyatağı project consists of two office towers of 26 and 27 floors each and two podiums to be erected on four basement levels.

40 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE Narlife, Maltepe, Istanbul

HUMAN, SPACE, LIFE 41 Message from the Management

truction and contracting companies, demonstrates once again that Tepe İnşaat is a strong representative of the Turkish construction industry in the international arena. Implementing a complete differentiation strategy in line with its Strategy and Implementation Plan, the Company conducts its operations with an exceptional focus on technology, quality and after-sales services in addition to high-profile development projects.

Successful examples of this approach include our projects Bilkent 1, Bilkent 2, Bilkent 3, Beykoz Konakları, Kemer Rose Residence, Narcity, Narkule, Narlife and Tepe Prime. Park Mozaik, a development project underway in Ankara, will join this ever-growing list of accomplishments upon its completion.

In line with the aim of becoming an EPC contractor for contracting projects, Tepe İnşaat increases its business volume in target country markets each pas- sing day. Augmenting its operations in Turkey, the Company has a presence in countries designated in our medium-term localization plan. This plan includes establishing a physical presence, with construction sites and offices, in attra- ctive markets identified in our geographic positioning strategy while focusing on three main segments: infrastructure, industrial plants and superstructures. Tepe İnşaat plans to continue contributing to Turkey’s growth, employment and construction industry via our projects in Turkey as well as abroad, while making significant investments in human resources, technology and research.

As the management, we strive to take Tepe İnşaat forward into future by effectively maintaining, managing and expanding the Company’s well-earned reputation. We accomplish this by adhering to an approach that prioritizes people and environmental awareness; pursuing a vision based on transparency, sound operating principles, rational and ethical values; and executing strong corporate governance strategies.

We would like to express our gratitude to our shareholders, customers and Having realized many “firsts” in Turkey over the years, Tepe İnşaat conti- employees for their support to our operations in 2014, which we conducted un- nues to bolster the country and the construction sector’s reputation thanks der Prof. Dr. İhsan Doğramacı’s guiding philosophy, “Further, toward the best.” to its innovative, entrepreneurial and ethical values and sound business approach. Having completed construction and contracting projects, as We wish a bright future to our country and our people who deserve the best of well as investment projects, both in Turkey and abroad, the Company has everything... regularly appeared on ENR’s Top 225 International Contractors List since 2011. Ranking on this prestigious list, made up of the world’s largest cons- Respectfully yours,

Ali Haydar KURTDARCAN Abdullah Bahadır GÜNGENCİ Atila Kemal OĞUZ Chairman Executive Member General Manager

42 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE HUMAN, SPACE, LIFE 43 Board of Directors, Senior Management

Board of Directors Mustafa Kalender Ali Haydar Kurtdarcan, Chairman Deputy General Manager, Financial and Administrative Affairs Abdullah Bahadır Güngenci, Board of Directors Executive Member Mustafa Kalender was born in Mengen, Bolu in 1964 and he graduated from Abdurrahman Kürşat Aydoğan, Board of Directors Member Anadolu University, Faculty of Business Administration in 1987. Mr. Ka- Önder Sezgi, Board of Directors Member lender started his career at Tepe İnşaat on September 1, 1988, serving as Levent Onural, Board of Directors Member Treasurer from 1988 to 1992, Chief of Treasury between 1993 and 1994, and Director of Finance from 1995 until 2001. He has worked as Deputy Ge- Senior Management neral Manager for Financial and Administrative Affairs since 2002. Mustafa Kalender became a licensed Independent Accountant and Financial Advisor Abdullah Bahadır Güngenci in 1989; in addition, he became a licensed Independent Auditor in 2014. Board of Directors Executive Member Abdullah Bahadır Güngenci was born in Ankara in 1951 and received his Mr. Kalender believes that the most important factor in fostering loyalty BSc in Civil Engineering at Middle East Technical University in 1976. Mr. among personnel and ensuring the Company’s growth and improvement Güngenci worked on the Iraq-Turkey Crude Oil Pipeline Project between is engendering a sense of team spirit, especially among high performance 1976 and 1977 then took part in the construction of the Petkim Aliağa Faci- employees who have strong sense of belonging to the organization. lities Water Treatment and Demineralization Units between 1979 and 1980. He was employed in Bahrain at the AISCO Iron Enrichment Plant Project and Between 2005 and 2010, Mr. Kalender also served as a member on the Bo- worked in marine dredging and the construction of the pier and plant from ard of Directors at Tepe İnşaat. He also serves on the Board at TAV Group’s 1980 until 1986. He continued his career at Günkay İnşaat in Turkey until various companies between 2005-2013, Dilek İnşaat ve Ticaret A.Ş., and joining Tepe İnşaat Sanayi A.Ş. in 1994, where he worked as Group Coordi- Antepe Sağlık ve Turizm Hizmetleri Tic. Danışmanlık A.Ş., Bilbak A.Ş., Bil- nator for Hospital Projects. In the following years, he was Assistant General des A.Ş and İDO. Manager for Foreign Affairs and for Infrastructure Projects. Mr. Güngenci was appointed as an executive member to the Board of Directors on April 14, Ali Karaca 2010 and also serves on the Boards of Tepe Türkmen İnşaat ve Ticaret A.Ş., Deputy General Manager, Domestic Projects Park Villa İnşaat ve Turizm A.Ş. as a Vice Chairman, and also Board Member Having a degree in Civil Engineering from the Mediterranean University, Fa- at İDO İstanbul Deniz Otobüsleri San. ve Tic. A.Ş., Dilek İnşaat ve Tic. A.Ş., culty of Engineering (Isparta) Karaca started working for Tepe İnşaat Sanayi and Antepe Sağlık ve Turizm Hizmetleri Tic. Danışmanlık A.Ş. A.Ş. in 1992 as a Site Engineer and continued his career as a Site Manager, Project Manager and Domestic Projects Coordinator. He has been working Atila Kemal Oğuz as the Deputy General Manager in charge of Domestic Projects since 2009. General Manager He graduated from Kuleli Military High School in 1982, and Yıldız Techni- Şafak Kolay cal University Faculty of Civil Engineering in 1989. He later completed the Deputy General Manager, Overseas Projects Executive MBA Program at Bilkent University Faculty of Business Administ- Born in 1964 in Ankara, Şafak Kolay graduated from Middle East Technical ration and Global Competition Strategies Program at the University of Mic- University, Department of Civil Engineering in 1989. Subsequently, he has higan. He started working for the well-known companies in the industry as worked in an executive capacity on both domestic and overseas projects a Site Engineer, and continued his career in different positions as a Planning completed by Turkey’s leading contracting companies and as a manager at Engineer, Site Manager, Project Manager, Project Coordinator and General different levels. Mr. Kolay has served on airport, highway, housing and so- Manager. He is in charge of developing the corporate culture of the Company cial facilities and business center development projects in Russia, Ukraine, and of managing strategies of change, and investment and contract projects. Kazakhstan, Azerbaijan and Croatia. In Turkey, he took on several tasks He defines Tepe İnşaat as a human and customer oriented Company that for hospital, pipeline, dam and HEPP projects. Mr. Kolay started working trains its employees. He supports the Turkish construction industry in order at Tepe Group in 1995; since July 2013, he has served as Deputy General to increase its share in the international contracting market. Experienced Manager responsible for Overseas Projects at Tepe İnşaat. particularly in investment projects in Turkey besides superstructures and industrial structures in the contracting industry outside Turkey in countries such as Croatia, Russia, Azerbaijan, Kazakhstan, Georgia, Germany, Iraq, Afghanistan, and Turkmenistan, Atila Kemal Oğuz has been working as the General Manager of Tepe İnşaat since 2010.

44 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE Tepe Prime, Bilkent, Ankara

HUMAN, SPACE, LIFE 45 46 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE HUMAN, SPACE, LIFE 47 Projects

Thanks to the wide range of projects it has developed, from public-private infrastructure and superstructure projects to investment projects, Tepe İnşaat is strengthening Turkey’s industry-specific expertise and experience in construction.

Business Development and Operation Map

Domestic Project

Ankara Construction of Hacettepe University Hospitals Modification and Major Re- pair Work, Reinforcement Works for Hacettepe University Gynecology Cli- nics, Construction of Gazi University Hematology- Ophthalmology Clinics, Dolphin Söğütözü Office Building, Park Mozaik Tepe&Mesa

Elazığ Fırat University Sports Hall

Istanbul Kozyatağı Anadolu Gayrimenkul Plaza Narlife Project

International Project

Russia-Tatarstan Trakya Glass Russian Zao Float Plant Construction of Alabuga LLC Yelabuga Plant Koluman, Russia LCC Plant Project Drylock Facility Project

Turkmenistan Turkmenistan Completion Work for Five Silos, Turkmenistan Construction of Eight Silos, Turkmenistan National Glass Complex

Cities Saparmurat, Boldumsaz, Garagum, Babadayhan, Tejen, Altınsahra, Garıssız- lık, Beyliktürkmenbaşı, Ahal

Iraq Taq Taq Operating Company Permanent Encampment Facilities Project

48 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 8 Silo Projects, Tejen Facility, Turkmenistan

HUMAN, SPACE, LIFE 49 Ruhabat Agriculture Warehouse, Macaroni Factory, Turkmenistan

50 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 8 Silo Project, Tejen Facility, Turkmenistan

HUMAN, SPACE, LIFE 51 8 Silo Project, Tejen Facility, Turkmenistan

52 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 HUMAN, SPACE, LIFE 53 Park Mozaik, Yaşamkent, Ankara

54 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Narlife, Maltepe, Istanbul

HUMAN, SPACE, LIFE 55 Projects

Structuring all its operations around the principle of environmental sustainability, Tepe İnşaat’s Narlife and Park Mozaik projects have been nominated for LEED® Gold Certification, awarded by the US Green Buildings Council (USGBC).

Construction of Coşkunöz Alabuga LLC Yelabuga Plant Reinforcement Work for Fırat University Indoor Sports Hall Start Date 2013 Start Date November 6, 2013 Total Building Area (m2) 12,000 Total Building Area (m2) 15,884 Delivery Date June 30, 2014 Delivery Date August 17, 2015 Client Coşkunöz Metal Form Client Presidency of Fırat University

Completion and delivery of the project, which includes 12,000 m2 of const- The contract for the Fırat University Indoor Sports Hall and Annexes Project, ruction work and which started in 2013 in the Special Industrial Zone in the including the architectural and fine work, executed as reinforcement work, city of Yelabuga in Republic of Tatarstan-Russian Federation, was completed was signed in 2013; the project is scheduled for completion and delivery in and delivered to the client on June 2014. 2015.

Dolphin Söğütözü Office Building Hacettepe University Hospitals Modification and Major Repair Work Start Date January 24, 2012 Total Building Area (m2) 19,649 Start Date October 9, 2009 Delivery Date December 31, 2014 Total Building Area (m2) 80,000 Client Dolphin Gayrimenkul Yatırım ve Geliştirme Ltd. Delivery Date October 01, 2015 Client Hacettepe University, Office of Strategy Development Tendered by Dolphin Gayrimenkul Yatırım ve Geliştirme Limited Şirketi on a “Build” and “Lump Sum Fixed Price” basis, and located on city block 28381 One of the most significant projects Tepe İnşaat has undertaken for Hacet- plot 2 in the Çankaya district of Ankara, the project comprises the turnkey tepe University, this project started in 2009. It encompasses the constructi- delivery of a “Class A” office building, including the construction, power on, production and renovation of inpatient floors, meeting halls, polyclinics and mechanical, as well as related infrastructure and landscape works. The and a cafeteria, as well as additional construction, installation and elect- office building, a focal point erected on a tract of 184 m2 located on the east/ ricity work, air conditioning, automation, production of joint installations west axis (Eskişehir road) of Ankara, consists of four underground floors, a and electricity systems, all to be carried out with world class materials and ground floor, 11 standard floors, a plant floor and penthouse. The contract workmanship. The aim is to complete the modification and repair works that was terminated on December 31, 2014. commenced in 2009 at the end the end of October 2015.

56 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Hacettepe University Medical Faculty Hospital, Hacettepe, Ankara

HUMAN, SPACE, LIFE 57 Hacettepe University Medical Faculty Hospital, Hacettepe, Ankara

58 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Hacettepe University Medical Faculty, Graduation Ceremony Area Hacettepe, Ankara

HUMAN, SPACE, LIFE 59 Projects

Kozyatağı Anadolu Gayrimenkul Plaza Located within natural pinewood with views of the Princes’ Islands, the project is distinguished by its proximity to main roads, as well as by the green Start Date March 3, 2014 area covering 60% of the total land area. Located next to the Yeditepe and Total Building Area (m2) 73,000 Maltepe University campuses, and 3 km from the E5 highway, 5 km from Delivery Date July 24, 2015 the coastal road, 6 km from the TEM Highway and 20 km from Sabiha Gök- Client AEH Anadolu Gayrimenkul Yatırım A.Ş. çen Airport, the project offers easy access to main arterial roads. Targeting the B+ residence customer profile, the project is also adjacent to the Süreyya The Kozyatağı Anadolu Plaza project, which developed in Kozyatağı, Istan- Paşa Chest Disease Hospital, the only local hospital specialized in this bran- bul in collaboration with AEH Gayrimenkul Yatırımları A.Ş., is built on a ch of medicine. The project, also boasting standards normally found in the A 73,000 m2 tract. The total project value is US$ 51.5 million. Scheduled for segment, has been nominated for LEED® Gold Certification, awarded by the completion in July 2015, the project consists of two office towers of 26 and US Green Buildings Council (USGBC). 27 floors each and two podiums to be erected on four basements. Commencing in September 2012, the project’s units were offered for sale Narlife Residences in October of the same year. Block C from among blocks A, B and C, will be Start Date September 1, 2012 completed and delivered in March 2014, one year ahead of schedule. Units Total Building Area (m2) 122,668 in Blocks A and B will be delivered in March 2015, as planned. Delivery Date June 1, 2015 Narlife Nominated for LEED Gold Certification Total Number of Units 609 The Company’s 609-unit, TL 230 million Narlife development, built on a 2 The project, being built on the last tract of valuable land in the Maltepe re- 29,500 m tract in Maltepe, Istanbul, has been nominated for LEED Gold Cer- gion of Istanbul, and adjacent to the Narcity and Narkule projects, consists tification. Planned, designed and constructed using an integrated environ- of a total of 609 units with studio, one, two, three and four bedroom, and mentally friendly approach, Narlife aims to minimize environmental impact duplex apartment options in three blocks erected on a construction area and optimize natural resource consumption. The development is currently of 30,000 m2. The project also includes the construction of indoor social undergoing an assessment by USBC and applications for two certification premises of approximately 2,000 m2, an indoor and outdoor swimming pool, designations were filed separately for both the building and grounds (green outdoor sports facilities and walking trails. Additionally, there are ongoing areas, parking areas, pedestrian walkways and lighting elements). private school and housing projects within the same region.

60 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Narlife, Maltepe, İstanbul

HUMAN, SPACE, LIFE 61 Narcity, Maltepe, İstanbul

62 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 HUMAN, SPACE, LIFE 63 Projects

Park Mozaik Tepe&Mesa Trakya Glass Rus Zao Float Autoglass Plant Start Date 2014 Start Date November 25, 2011 Total Building Area (m2) 216,000 Total Building Area (m2) 147,142 Total Number of Units 885 Delivery Date 2014 Client Automotive Glass Alliance Rus ZAO Park Mozaik Tepe & Mesa Project, which is being developed by a Tepe İnşaat and Mesa Mesken joint venture, consists of 885 residential units to be cons- The plant was constructed in the Special Industrial Zone in Yelabuga, Au- tructed on a 74,000 m2 tract in Yaşamkent, Ankara. Three high-rises, one of tonomous Republic of Tatarstan, which is part of the Russian Federation. which is 40 floors, contain 473 apartments while seven horizontal blocks The facility is comprised of glass production buildings (furnace, bath, annea- house 412 apartment units in total. The development project offers various ling, batching, galleries) totaling 35,000 m2, the mirror and coating building sizes of apartments, from two up to six bedrooms. (16,000 m2), a warehouse (46,000 m2) and additional structures including a recreation building, heat boiler, LPG, and generator room (9,000 m2). The Nominated for LEED® Certification, which is awarded by the US Green Bu- Automotive Glass contract includes the auto-glass production plant and ad- ildings Council (USGBC), Park Mozaik offers a lifestyle that differs from si- ministrative office building, about 42,000 m2 in total. The project was comp- milar developments thanks to its social recreational facilities for all types of leted and delivered in 2014. activities, impressive and functional landscaped areas and apartment floor plans that offer various alternatives beyond the routine. The development Construction of Silos with Total Capacity of 360,000 Tons has a 216,000 m2 total building area including parking garages. Constructi- in Eight Different Regions of Turkmenistan on and sales commenced in August 2014 on phase-by-phase basis. Delivery Start Date December, 2012 to owners will start as of end-2016. Delivery Date May, 2014 Client Turkmenistan Industrial Ministry Taq Taq Operating Company Permanent Encampment Facilities Project The Company plans to complete the project, which includes the design and Start Date January 27, 2014 construction of silos with total capacity of 360,000 tons, located in eight 2 Total Building Area (m ) 10,835 provinces of Turkmenistan (Altınsahra, Tejen, Babadayan, Karakum, Garıs- Delivery Date May 27, 2015 sızlık, Sparmyrat, Boldumsaz, Beyik), together with the rehabilitation of ad- Client Taq Taq Operating Company Limited jacent areas, in May 2014.

Under the contract signed with Taq Taq Operating Company of Iraq, Tepe Turkmenistan National Glass Complex İnşaat has undertaken the 10,835 m2 permanent encampment facilities pro- The Company aims to start construction of the complex with a total 250 ject with a total value of US$ 20 million. The project consists of two parts: a tons/days flat glass capacity and 50 tons/days glass bottle capacity in Dere- residential area and an industrial zone. It includes two residence buildings, ze district of Ahal province, Turkmenistan in February 2015. The project is an office building, restaurant, an infirmary, main reception building, a main scheduled for completion in September 2017. entrance structure, maintenance & repair building, fire department facility and gasoline station. The project is scheduled for completion in 2015.

64 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Park Mozaik, Yaşamkent, Ankara

HUMAN, SPACE, LIFE 65 Taurus, Bilkent, Ankara

66 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Yenişehir Şişecam Factory, Bursa

HUMAN, SPACE, LIFE 67 Tepe Prime, Bilkent, Ankara

68 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Tepe Prime, Bilkent, Ankara

HUMAN, SPACE, LIFE 69 70 TEPE İNŞAAT 2014 ANNUAL REPORT AT A GLANCE HUMAN, SPACE, LIFE 71 TAV Havalimanları (TAV Airports)

Milestones 2006 • Operation and construction services were restructured under two separate 1997 companies, TAV Havalimanları Holding A.Ş. and TAV İnşaat. • TAV was founded. • Izmir Adnan Menderes Airport International Terminal commenced operation. • ATÜ, which provides duty-free shopping, together with BTA, which provides • Esenboğa Airport Domestic and International Terminal commenced operation. catering services, were established under the TAV umbrella. • TAV Özel Güvenlik Hizmetleri A.Ş. was founded.

1999 2007 • ATÜ, which provides duty-free shopping under TAV Havalimanları, and which • TAV Havalimanları Holding stock was offered to the public. joined the TAV organization and BTA, which provides catering services, was • The new passenger terminal at the Tbilisi International Airport commenced established. service. • Batumi International Airport commenced operation. 2000 • TAV Batumi Operations LLC. was founded. • TAV began operating at the Istanbul Atatürk Airport International Terminal. • TAV Havalimanları won the tender for the Monastir Habib Bourguiba and Enfi- dha Zine El Abidine Ben Ali International Airports in Tunisia. 2001 • TAV Tunisie SA was founded. • “Primeclass” CIP service was launched. • Groundbreaking ceremony for the Tunisia Enfidha Zine El Abidine Ben Ali In- ternational Airport was held. 2004 • A 40% minority stake in Havaş was purchased; Havaş then became a whol- • BTA began operating the Istanbul International Airport Hotel. ly-owned subsidiary of TAV Havalimanları Holding. • TAV undertook the construction and operation of the Esenboğa Airport Domes- • TAV Havalimanları Holding became the sole owner of TAV Izmir and TAV tic and International Terminal. Esenboğa. • TAV Esenboğa Yatırım Yapım ve İşletme A.Ş. was founded. • TAV Havalimanları won the tender for the operation of Antalya Gazipaşa • TAV İşletme Hizmetleri A.Ş. was founded. Airport. • The Hopa Terminal operated by Havaş commenced service. 2005 • TAV won the tender for the lease of operating rights of the Atatürk Airport In- 2008 ternational and Domestic Terminal Buildings, Parking Garage and the General • TAV Havalimanları took over the operation of the Monastir Habib Bourguiba Aviation Terminal for 15.5 years. International Airport in Tunisia. • TAV Istanbul Terminal İşletmeciliği A.Ş. was founded. • TAV Gazipaşa Yatırım, Yapım ve İşletme A.Ş. was founded to operate Antalya • TAV began operating Atatürk Airport Domestic Terminal. Gazipaşa Airport. • 60% shareholding in Havaş was purchased. • TAV Havalimanları won the tender for the operation of Alexander the Great • Construction and operation of the Izmir Adnan Menderes International Termi- International Airport in Skopje, Macedonia’s capital, and St. Paul the Apostle nal was transferred to TAV. TAV Izmir Terminal İşletmeciliği A.Ş. was founded. International Airport in Ohrid, as well as the construction of the New Cargo • TAV Bilişim Hizmetleri A.Ş. was founded. Airport in Shtip, of which TAV Havalimanları Holding also had the optional • TAV won the tender for Tbilisi International Airport in Georgia. rights to operate; related concession contracts were signed. • Havaş won the tender to become a shareholder with a 50% stake in TGS (Tur- kish Ground Services Co.), an affiliate of Turkish Airlines.

72 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Atatürk Airport, Yeşilköy, Istanbul

HUMAN, SPACE, LIFE 73 TAV Havalimanları (TAV Airports)

2009 • TAV Havalimanları won the tender for the operation of duty free, catering and • The capital of TAV Havalimanları Holding A.Ş. was raised from TL 242,187,500 other commercial venues at the Riga Airport, Latvia. to TL 363,281,250 in cash. • A memorandum of understanding was signed with the Indonesia-based Sigma • A contract was signed for the transfer of the 15% of the minority stake in TAV Group/PT Wira Cipta Sukses and the Indonesian Government for cooperation Tunisie SA, previously wholly-owned by TAV Havalimanları Holding A.Ş., to In- on potential airport projects in the country. ternational Finance Corporation (IFC), a World Bank affiliate, for € 27,999,825 • BTA took over the operation of five service points (Kantin, Beerport, Kokpit on June 30, 2009. Cafe, Kokpit Brasserie and Botanik Café in the Istanbul Atatürk Airport Domes- • As of July 13, 2009, operations commenced at Antalya Gazipaşa Airport, the tic Terminal as of July 1, 2010. four which operation rights for 25 years are held by TAV Gazipaşa Yatırım Ya- • The corporate governance rating Score of TAV Havalimanları Holding was rai- pım ve İşletme A.Ş., a company wholly-owned by TAV Havalimanları Holding sed from 83.3 (8.5) in 2009 to 90.0 (9) in 2010. A.Ş. • TAV Havalimanları Holding A.Ş. and the AL-RAJHI Holding Group, established 2011 and operating in the Kingdom of Saudi Arabia, signed a joint venture contract • Following the takeover of commercial venues, operations commenced at Riga on November 9, 2009. Airport, Latvia. • TAV Tunise SA, 85% of which is owned by TAV Havalimanları Holding, began • TAV Havalimanları Holding raised its shareholding in TAV Özel Güvenlik Hiz- operating the Enfidha Zine El Abidine Ben Ali International Airport. The Com- metleri A.Ş. from 66.67% to 100%. pany helds the operation rights of the airport until May 2047. • TAV Havalimanları Holding raised its shareholding in TAV Urban Georgia from 66 to 76%. 2010 • TAV Havalimanları Holding raised its shareholding in TAV Batumi Operations • TAV Havalimanları Holding took over the operation of in Skopje and Ohrid LLC from 60 to 76%. airports in Macedonia for 20 years. • BTA Denizyolları was founded by the 50-50 joint venture between BTA and • Sale of Havaş shares closed. TASS; BTA commenced operations at İDO. • The sale of the 18% minority stake in of TAV Tunisie SA to the Pan African • The construction of the new terminal at Skopje Airport was completed and put Infrastructure Development Fund was completed. into service. • The expansion project of the Istanbul Atatürk Airport’s Domestic and Interna- • Together with its partners Al Rajhi and Saudi Oger, TAV Havalimanları signed tional Terminals was completed. a contract with the General Authority of Civil Aviation of Saudi Arabia for the • Havaalanları Yer Hizmetleri A.Ş. (Havaş) acquired 50% of the shares of the build-operate-transfer project of Medina Airport, the first airport privatization North Hub Services (NHS), a provider of ground handling services at Riga to take place in Saudi Arabia. Airport, Latvia. • TAV Havalimanları launched TAV Mobile which enables access to real time • A memorandum of understanding was signed for the construction and operati- information at the airports it operates. on of the new terminal building at Riga Airport, Latvia. TAV Havalimanları and • Giving the best offer, on November 17, 2011, TAV Havalimanları Holding Air Baltic, Latvia’s leading airline company, decided to become 50-50 partners won the tender for the lease of operating rights of the International Terminal, in this joint venture. CIP, Domestic Terminal and their components at the Izmir Adnan Menderes • TAV İşletme Hizmetleri A.Ş. launched the TAV Passport card that offers vari- Airport. ous services and privileges at airports operated by TAV. • A subsidiary of TAV Havalimanları Holding with a 65% share, Havaalanları Yer • Antalya Gazipaşa Airport was upgraded from category 2C to 3C. Hizmetleri A.Ş. (Havaş) raised its share capital in North Hub Services (NHS). • TAV signed a “Global Training Center” agreement with Airports Council Inter- NHS provides ground handling services at the Riga International Airport in national (ACI), a group with more than 1,600 member airports worldwide. Latvia, Stockholm International Airport in Sweden and Helsinki International Airport in Finland. Havaş increased its stake from 50% to 66.7% as of December 20, 2011. NHS will be providing services as Havaş Europe at these airports.

74 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Esenboğa Airport, Esenboğa, Ankara

HUMAN, SPACE, LIFE 75 Esenboğa Airport, Esenboğa, Ankara

76 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Atatürk Airport, Yeşilköy, Istanbul

HUMAN, SPACE, LIFE 77 TAV Havalimanları (TAV Airports)

2012 • Atatürk Airport was awarded “Airport without Obstacles” certification. • The agreement on the sale of a 38% stake in TAV Havalimanları to Aéroports • TAV Bilişim collected the second prize at the IT Summit ’12 for its resources de Paris Group for US$ 874 million was signed on March 11, 2012. Upon the utilization system project respectively implemented at King Khalid and King meeting of prerequisites as per the share purchase agreement, the transfer of Fahd Airports in Riyadh and Dammam, Saudi Arabia. shares was realized on May 16, 2012. • TAV Havalimanları ranked first in the European Investor Relations Survey, • In June, TAV Havalimanları laid the foundation of the Izmir Domestic Terminal, conducted annually by Thomson Reuters Extel Surveys throughout European a project with a total value of € 250 million. countries, as “Turkey’s Best Company in Investor Relations” (ranked third in • TAV Havalimanları assumed the operation of Medina International Airport, the peer group in Europe) and “Turkey’s Best Investor Relations Executive” currently in operation, wherein it holds equal shares (33%) with Al Rajhi Hol- (ranked second in the peer group in Europe). ding group and Saudi Oger Ltd., as of end June. • TAV Istanbul received ISO 10002 Certification, one of the standards of Custo- • “Primeclass” CIP services, launched in 2001 by TAV İşletme Hizmetleri (Ope- mer Satisfaction Management. rating Services) at the Istanbul Atatürk Airport, became available at 77 points • Pursuant to the acquisition agreement signed for the remaining 35% stake in throughout the world, at prices starting from € 60, in cooperation with overseas Havaş, the share transfer transaction was completed. establishments. • TAV Istanbul received Environmental Management System (ISO 14001:2004) • TAV Havalimanları received the “Corporation with the Highest Score” award at and Occupational Health and Safety management System (OHSAS 18001:2007) the 3rd Corporate Governance Awards organized by the Corporate Governance Certification. Association of Turkey (TKYD). • At the record breaking attempt organized by the Danskeyfi Dance Academy at • TAV Bilişim received ISO 27001:2005 Information Security Administration Atatürk Airport with the support TAV Havalimanları, 198 couples performing System Certification, granted to very few companies in Turkey. a Bachata dance for five minutes successfully became the highest number of • TAV Havalimanları launched a common phone number for its call centers at couples to dance faultlessly and synchronously, in a performance that entered the airports it operates in Turkey with the purpose of effectively responding to the Guinness Book of Records. passenger complaints and requests. • The cash dividend distributed by TAV Havalimanları among its shareholders • Aiming to reduce announcement density and offer a practical solution to pas- amounted to a gross TL 90,820,312, where a gross TL 0.25 was paid for each sengers, the “Meeting Point” application, developed by TAV Bilişim entered share with a nominal value of TL 1.0 use on the arrival floor at the International terminal of Istanbul Atatürk Airport, enabling arriving passengers to conveniently meet those awaiting them. • TAV Tunisia hosted the 47th ACI Board of Directors Meeting held 16-20 April with the participation of 59 members operating 249 airports in 47 countries.

78 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Atatürk Airport, Yeşilköy, Istanbul

HUMAN, SPACE, LIFE 79 TAV Havalimanları (TAV Airports)

2013 2014 • TAV Havalimanları’s corporate governance rating was raised from 92.44 (9.24 • Delivering end-to-end development solutions with the aim of improving the out of 10) as of August 24, 2012 to 93.97 (9.39 out of 10) as of August 23, overall quality and efficiency of airports throughout the world via training, TAV 2013 as a result of the company’s ongoing improvement efforts to implement Aviation Minds received ISO 9001:2008 Quality Management System certifica- corporate governance principles. tion. • TAV Havalimanları ranked third in the European Investor Relations Survey • The new domestic terminal at Adnan Menderes Airport, built by TAV Group, as “Turkey’s Best Company” in investor relations. The survey is conducted one of the world’s leading companies in airport projects and operation, became annually by Thomson Reuters Extel of 15,000 employees of buy-side firms, operational following a celebratory opening ceremony. brokerage firms, research houses and quoted European companies. • Istanbul Atatürk Airport, operated by TAV Airports, ranked among the 10 best • Istanbul Atatürk Airport received the “Europe’s Fastest Growing Airport” airports in the 50 million passengers and above category at the Skytrax World award at the 2013 Euro Annies Awards held by anna.aero. Airport Awards, which are considered the “Oscars” of the aviation industry. • Medina Airport Project, carried out by TAV in conjunction with Saudi Oger and • HAVAŞ, rendering ground services at 23 airports in Turkey and seven airports Al Rajhi Holding, was named the “Infrastructure Deal of the Year in the Middle in Europe, has become the first Turkish company to obtain a ground services East and Africa” by Project Finance International. license in the Kingdom of Saudi Arabia. • Aéroports de Paris (ADP) Management, Goldman Sachs (GS Global Infrastruc- • The consortium (ZAIC) including TAV Airports commenced construction on ture Partners II, LP and GS International Infrastructure Partners II, LP), Tutor the new passenger terminal at Zagreb Airport, which will increase the annual Perini Corporation, Ove Arup & Partners PC, Kohn Pederson Fox Associates passenger capacity up to 8 million. PC, Suffolk Construction Company and TAV Havalimanları are prequalified • As Turkey’s leading airport operations brand in the global arena, TAV Airports bidders for the tender held for the “LaGuardia Airport Central Terminal Buil- began to provide airport operations training in China. ding Replacement Project” in New York, USA. • TAV Airports raised its corporate governance rating in the BIST Corporate Go- • Carrying out the construction of the new domestic airport terminal in Izmir, vernance Index to 9.41, up from 9.17. TAV received an award for its “InnovaLig Sustainability Practices” presented • TAV Airports, Turkey’s leader in airport operations, was included in the Susta- by SKD for the first time, for the company’s recycling program. inability Index, recently established by Borsa Istanbul (BIST). • TAV Havalimanları hosted the General Assembly meetings of ACI World, the global organization of airport operators, and of ACI Europe, its European bran- ch, in Istanbul. More than 800 top executives representing 1,751 airports in 174 countries discussed the future of aviation and airports over a five day period.

80 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Esenboğa Airport, Esenboğa, Ankara

HUMAN, SPACE, LIFE 81 TAV Havalimanları (TAV Airports)

TAV Airports Shareholding Structure Key Financial Indicators

38.0% Summary Income Statement 2013(*) 2014 % Aéroports de Paris Group(*) (TL million) 8.1% (**) Tepe İnşaat Sanayi A.Ş. Turnover 2,245 2,798 25 Gross Profit 860 1,098 28 8.1% Operating Profit 706 964 36 Akfen Holding A.Ş. Finance expenses (Net) 270 227 16 Profit before Tax 475 773 63 Net Profit 335 621 85 3.5% EBITDA 880 1,179 34 Non-floating 2.0% Sera Yapı EBITDAR 1,243 1,573 27 Part Endüstrisi ve (Other) Ticaret A.Ş. (*)Construction revenues excluded. (**)Re-adjusted. 40.3% Floating Part Summary Balance Sheet 2013 2014 % (Other) (TL million) Current Assets 2,292 2,562 12 Intangible Assets 3,311 3,512 6 (*) TANK ÖWA Alpha GmbH, a wholly-owned subsidiary of Aéroports de Paris. Total Assets 6,949 7,466 7 Short-term Liabilities 1,155 969 16 Long-term Liabilities 3,955 4,393 11 Total Liabilities 5,110 5,362 5 Shareholders’ Equity 1,839 2,103 14

82 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Esenboğa Airport, Esenboğa, Ankara

HUMAN, SPACE, LIFE 83 Atatürk Airport, Yeşilköy, Istanbul

84 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 HUMAN, SPACE, LIFE 85 TAV İnşaat (TAV Construction)

In 2014, TAV İnşaat was named the “World’s Largest Airport Construction Company” by Engineering News Record (ENR) magazine, which ranks the 250 biggest international contracting companies in the world each year.

TAV İnşaat was established with the vision to become a pioneering brand TAV İnşaat in airport construction; in less than a decade, it has become one of the fas- Shareholding Structure test-growing and most distinguished companies in Turkey.

TAV İnşaat’s ongoing projects in 2014 totaled US$ 13,505 million while the 5.1% company’s backlog amounted to US$ 2,101 million. TAV İnşaat’s share in Sera Yapı ongoing projects totaled US$ 5,369 million.

In addition to airport construction, TAV İnşaat constructs high rises that 49.0% require use of cutting-edge technology. Marina-101 and Damac Towers by 21.7% Akfen ADP Paramount in Dubai and Emaar Square in Istanbul are a few examples of the Holding company’s ongoing high rise projects.

In 2014, TAV İnşaat was named the “World’s Largest Airport Construction 24.2% Company” by Engineering News Record (ENR) magazine, which ranks the Tepe İnşaat 250 biggest international contracting companies in the world each year.

In 2013, TAV İnşaat ranked 93rd in the general list, 6th in the construction industry list and 67th in the “By Province–Istanbul” list in Capital magazine’s “Turkey’s Largest 500 Private Sector Companies” compilation.

86 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Esenboğa Airport, Esenboğa, Ankara

HUMAN, SPACE, LIFE 87 TAV İnşaat (TAV Construction)

TAV İnşaat’s projects completed in 2014 and ongoing projects include the • Ohrid Airport, Ohrid/Macedonia following: • New Enfidha Airport, Enfidha/Tunisia • Cairo Airport TB3 Passenger Terminal Building Project, Cairo/Egypt COMPLETED PROJECTS • Izmir Adnan Menderes Domestic Flights Terminal (Additional Work) Pro- ject, Izmir/Turkey Domestic • Doha International Airport Facility Management Works, Doha/Qatar • Ankara Esenboğa Airport Domestic and International Flight Terminals/ Ankara ONGOING PROJECTS • Istanbul Atatürk Airport Terminal Building and Multi-Storey Car Park Pro- ject/Istanbul Domestic • Istanbul Atatürk Airport Renovation Project/Istanbul • Emaar Square Northern Region Structural Works • Izmir Adnan Menderes Airport International Flights Terminal Building • EMAAR Phase 3 Project/Izmir • Izmir Adnan Menderes Domestic Flights Terminal (Additional Work) Pro- International ject/Izmir • Abu Dhabi International Airport/UAE • Istanbul Atatürk Airport Expansion and Improvement Project/Istanbul • Marina 101 Hotel and Residence/UAE • Istanbul Atatürk Airport 2010-2011 Investments/Istanbul • Damac Towers/UAE • Antalya Gazipaşa Airport/Antalya • Riyad KKIA Terminal 5 Airports/Saudi Arabia • King Abdul Aziz Airport/Saudi Arabia International • Saudi Airports Catering Building/Saudi Arabia • Emirates Airlines A380 Maintenance Hangars Çelik Kapı İnşaat Project, • Madinah International Airport/Saudi Arabia Dubai/UAE • Doha International Airport/Qatar • Al Sharaf Shopping Center, Dubai/ UAE • Oman Muscat International Airport/Sultanate of Oman • Towheed Iranian School, Dubai/UAE • Libyan-Tripoli International Airport/Libya • Emirates Financial Towers, Dubai/UAE • Libyan-Sebha International Airport/Libya • Sulafa Tower, Dubai/UAE • Madinah Airport Hotel Project/Saudi Arabia • Abu Dhabi Airport Midfield Terminal-Pilehead Manufacturing Abu Dha- bi-UAE • Majestic Tower, Sharjah/UAE • Batumi Airport, Batumi/ Georgia • Tbilisi Airport, Tbilisi/Georgia • Scopje Airport, Scopje/Macedonia

88 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Esenboğa Airport, Esenboğa, Ankara

HUMAN, SPACE, LIFE 89 Istanbul Sea Buses, Yenikapı Dock, Istanbul

90 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 HUMAN, SPACE, LIFE 91 İDO, İstanbul Deniz Otobüsleri (Istanbul Sea Buses)

With its modern fleet comprised of 55 vessels (24 sea buses, 19 car ferries, nine fast ferries, one passenger ferry and two service vessels), İDO is one of the world’s leading maritime passenger and vehicle transportation companies.

Istanbul Deniz Otobüsleri Sanayi ve Ticaret A.Ş. (İDO) was established by Investments the Istanbul Metropolitan Municipality in 1987 to provide solutions for • Eskihisar Port Chief Officer’s Building Renovation Works transportation in Istanbul and help reduce the flow of traffic on the highways. • Waste Water Infrastructure Construction Works in Büyükada, Heybelia- da, Kınalıada and Burgazada Port Area Following the privatization of 100% of the shares of İDO in accordance with • Waste Water Infrastructure Construction Works in Çınarcık Port Area the Privatization Law Nr. 4046, the company was transferred to TASS Deniz- • Yalova Kartal Hydraulic Ramp Construction Works cilik ve Ulaştırma Hizmetleri Turizm Sanayi ve Ticaret A.Ş. (TASS) on June • Raising the Collision Mats at Güzelyalı, Yenikapı and Bandırma Ports 16, 2011, a company founded by the joint venture with the highest offer at • Construction of Safety Rails at Avşa Island Port the tender. With the General Assemblies for merger held in accordance with • Maltepe Port Arrangement and Lighting Works the Turkish Commercial Code and related legal regulations, TASS (Tepe Ak- • LED Transformation Project (LED Lighting transformation works at 24 ter- fen Souter Sera Ortak Girişim Grubu) was transferred to İDO on December minals are completed) 16, 2011 with all its rights and obligations. The shareholders of İDO are • Passenger Protection Arrangement Works (Covering the safety rails at Akfen Holding (30%), Tepe İnşaat (30%), Souter Investment (30%) and Sera terminals using panel-fence; covering open areas at terminals using sa- Gayrimenkul Yatırım (10%) (TASS). fety rails and wire-fence; installing rumble strips on vehicle passage zones at ferryboat and fast ferry terminals; installing an anti-skid layer on Turkey’s Largest Sea Transport Company passenger boarding and landing zones; installing bobo doll at specified With its modern fleet comprised of 55 vessels (24 sea buses, 19 car ferries, points at terminals; mounting slide gate before ramp no. 4 at Yenikapı; nine fast ferries, one passenger ferry and two service vessels), İDO is one renovation and rehabilitation of ramps at Eskihisar-Topçular Ferryboat of the world’s leading sea transportation companies providing services for Ports) passengers and vehicles. • Displacement of Vehicle Tollbooths • Field Concrete Works for Waste Water Infrastructure Project and Imple- As of December 2014, İDO had a passenger capacity of 36,701 in summer mentation at Topçular Port Area season and 30,379 in winter season. The company’s vehicle capacity was • Yenikapı Transformers Displacement Works 2,736 for both seasons at year’s end. İDO operated 15 lines in total, 4 int- • Activation and setting into motion of CLM (Contract Lifecycle Manage- racity and 11 long distance. İDO provides sea transportation to important ment) project that aims to manage the drafting and performance of cont- points in Istanbul and around the Marmara Sea. It holds the operating rights racts in a more efficient manner and with reduced risk for up to 30 years for most of the 35 ports in which it operates. • Setting up the Biological Domestic Waste Water Treatment facility at Top- çular Terminal in order to refine and eliminate domestic waste water from 18 ferryboats and the terminal building at Topçular Port • Procurement of chassis trucks based on age limit and ADR requirement pursuant to the Communiqué on the transportation of hazardous wastes by land

92 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Istanbul Sea Buses, Yenikapı Dock, Istanbul

HUMAN, SPACE, LIFE 93 İDO, İstanbul Deniz Otobüsleri (Istanbul Sea Buses)

• Installation of emergency AC/DC feeding system to auxiliary navigators İDO Financial and Operational Indicators 2014 on aged ferryboats (*) • Replacement of aluminum seats on balcony of two new type ferryboats Turnover (Net Sales) TL 556,836,724 (“Sultanahmet,” “Suhulet”) EBITDA TL 219,369,942 • Revision of tracks for disabled at fast ferries, sea buses and ferryboats Number of Passengers 47,501,612 • Revision of lounge seating on two sea buses • Revisions in stern, central and business lounges of “Adnan Menderes” Number of Vehicles 8,178,757 and “Turgut Özal” boats Number of Trips 189,843 • Installation of 7” monitors on boats in order to check whether the wheel Number of Employees 1,282 house DVD (recorder)s make recordings Number of Subcontractors’ Employees 371 Business Development and Strategy (*)Turnover and EBITDA data are obtained from the Capital Market Board • İDO headquarters at Yenikapı grew in importance as the role the area Report dated 31.12.2014. plays within the city’s transportation network increased, with the area’s transport links with Marmaray and metro making Yenikapı more attracti- ve. Fleet Information 2014 • İDO broke more new ground by signing a cooperation agreement with Sea Bus 24 Metro Turizm to offer integrated transportation solutions; the agreement Fast Ferry 9 covers the establishment of land and sea route connections and the inclu- sion of Metro Travel agencies in ticket sales channels. Ferryboat 19 • İDO’s feasibility studies on ro-pax transportation, to meet the increasing Passenger Ferry 1 demand on the North and South Marmara axis by using the land it owns Service Craft 2 at Ambarlı, Beylikdüzü district, are currently underway. • Pluscard: Via the Pluscard prepaid card system used at bus terminal ent- Total 55 rances, vehicles of all bus companies are allowed to pass at İDO terminals. • İDO Fleet card: The İDO Fleet card system was introduced to track corporate vehicle use and foster user loyalty and satisfaction by offering certain benefits.

94 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Istanbul Sea Buses, Yenikapı Dock, Istanbul

HUMAN, SPACE, LIFE 95 İDO, İstanbul Deniz Otobüsleri (Istanbul Sea Buses)

İDO is conducting studies on the marina, integrated transportation initiatives and international projects as part of its various business development activities.

Corporate Development of İDO 2000 • Barbaros Hayrettin Paşa and Sokullu Mehmet Paşa, two 400-passenger 1987 sea buses built at the Pendik Shipyard, commenced service. • The first two sea buses, each with a capacity of 449 passengers, commenced service. Three more sea buses were purchased and put into service 2003 during the year. • İDO launched an online reservation and sale system for its intercity (ticket-based) fast ferry and sea bus lines and began ticket sales via credit 1988 cards. • Five new vessels were purchased by İDO, increasing to ten its number of sea buses. 2004 • Two fast ferries, each with a capacity for 588 passengers and 112 vehic- 1992 les, were purchased and put into service on the Pendik-Yalova line. • Kartal and Kadıköy ports were put into service. 2005 1994 • Two 155-passenger Monohulls were turned over to the Izmit Municipality. • With the purchase of two Monohulls each with a capacity for 155 passen- • The management of the city lines, which was previously operated by Tür- gers, the number of vessels at İDO increased to 12. kiye Denizcilik İşletmeleri (TDİ, Turkish Maritime Organization), was turned over to İDO along with the vessels and ports. 1996 • With the addition of two more sea buses each with a 450 passenger capa- 2007 city, the number of sea buses reached 14. • Five new sea buses built in Singapore and the Osman Gazi–1 and Orhan Gazi–1 fast ferries, each with a holding capacity of 225 vehicles and 1,200 1997 passengers, built by Austal, joined the İDO fleet. • The total ships in the fleet reached 20 with the addition of three 350-pas- • The domestically-manufactured car ferry Suhulet joined the İDO fleet. senger sea buses, two fast ferries with a capacity to hold 450 passengers and 94 vehicles and a 400-passenger sea bus that was manufactured do- 2008 mestically for the first time at the Pendik Shipyard of Türkiye Gemi Sa- • Sahilbent, Suhulet’s sister vessel, joined the İDO fleet. Sultan Ahmet and nayi. A new line was launched between Yalova and Yenikapı during the Sadabat car ferries commenced service. Two double-ended fast ferries, Ya- same year that Istanbul’s first fast ferry service got underway. vuz Sultan Selim and Kanuni Sultan Süleyman, built by DAMEN in China, joined the İDO fleet. 1998 • Fatih, the first of the Model 4 boats chosen by the citizens of Istanbul, was • Two fast ferries each with a capacity to carry 800 passengers and 200 put in service. vehicles were built and joined the fleet. The sea bus, Temel Reis II, built at the Pendik Shipyard was put into service.

96 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 Istanbul Sea Buses, Yenikapı Dock, Istanbul

HUMAN, SPACE, LIFE 97 İDO, İstanbul Deniz Otobüsleri (Istanbul Sea Buses)

2009 2013 • Kadıköy, Beyoğlu, Beykoz and Sarıyer, the other Model 4 boats, commen- • In 2013, İDO initiated İDO TV (closed circuit TV) broadcasting on the ves- ced service. sels of its fleet. • Yeni Haliç (New Golden Horn) boats joined the İDO fleet. • As of March 1, Kabataş-Kadıköy-Bursa bus (land transportation) services on İDOBÜS line were discontinued. 2010 • Turgut Reis-I vessel was sold and taken off the İDO Fleet. • Thirty-four passenger boats and 49 intracity ports were turned over to Istanbul Şehir Hatları Turizm Sanayi ve Ticaret. A.Ş., a subsidiary of Istan- 2014 bul Metropolitan Municipality. • The “Piri Reis” vessel was sold and taken off the İDO Fleet on February 18, 2014. 2011 • Passenger boats began to serve on the Kartal-Yalova route as of June 16, • İDO Sanayi ve Ticaret A.Ş. was turned over to the TASS (Tepe-Akfen-Sou- 2014. ter-Sera) Joint Venture Group. • Based on the Board’s resolution to take sea buses off the fleet, service on • Bozcada 1 joined the İDO fleet. the Yenikapı-Yalova sea bus line was canceled. Additionally, trips that • A flexible pricing policy was adopted, starting with the Bandırma line and were classified as additional trips due to high demand were tariffed for the was extended to all intercity lines by August. Yenikapı-Yalova fast ferry line in 2014. • The 23:55 mutual additional trip for Pendik-Yalova line between Novem- 2012 ber 20, 2014 and December 31, 2014 was added. • The İDOBÜS sales system was completed and commenced trips in March. • Ticket sales for the Bostancı-Yenikapı-Armutlu T.K.-Armutlu sea bus line • The SAP Restructuring Project was completed. of the Istanbul (Kadıköy-Yenikapı)-Armutlu T.K.-Armutlu–Bursa (Güzel- • İDO received the “Privatization of the Year” award for project finance in yalı) line stopped as of January 1, 2014. The tickets will be re-offered the competition organized by the Project Finance, a Euromoney Publis- for sale for the Kadıköy-Yenikapı-Armutlu T.K.-Armutlu-Bursa (Güzelyalı) hing Group magazine. line at rates of the relevant line. The point of arrival for the Bursa terminal • İDO ranked 254 the among the largest 500 companies in Turkey on the was changed to Kumla, as of the date the summer schedule went into Fortune Turkey 500 list. effect (June 16, 2014). • The Kabataş-Kadıköy-Bursa (İDOBUS) sea bus line was terminated for an indefinite period of time as of January 2, 2014. Due to strong passenger demand and as the Taksim-Yenikapı connection of Marmaray was put into service, the Kadıköy-Yenikapı-Bursa sea bus line started on January 10, 2014 as additional trips and on February 17, 2014 as scheduled trips. • On June 14, 2014, rush hour-normal hour implementation for the Sirke- ci-Harem line was stopped and a single rate system went into effect.

98 TEPE İNŞAAT 2014 ANNUAL REPORT OPERATIONS IN 2014 • A round-trip discount campaign of up to 33% off, excluding Fridays, Sa- Total Number of Passengers Transported 47,501,612 turdays and Sundays, was launched on February 24, 2014. On March 22, 2014, these three days were included in the discount campaign. Total Number of Vehicles Transported 8,178,757 • İDO management declared 2014 as the year of “Maximizing Customer Satisfaction.” To this end, ticket sales campaigns were continued for all Total Passenger Transportation Capacity scheduled trips throughout the year; as a result, a steady increase in both vehicle and passenger numbers was achieved. Summer Season 36,701 • During spring 2014, a discount campaign of up to 33% was applied for Winter Season 30,379 the Eskihisar-Topçular line where vehicle transportation demand is hig- Total Number of Trips 189,843 hest. Promotional ticket sales continued throughout the year, including the peak periods such as school break and religious holiday periods. • This year, İDO introduced 23:55 (midnight) trips between Istanbul Pendik and Yalova for the first time; it also offered sea connection between two cities at midnight. • With Sea&Miles, the loyalty program carried in cooperation with Deniz- Bank, İDO is able to access new customers, add new business partners to its portfolio and gain further advantages. It also initiated a campaign with customer participation to rename the program in Turkish. • Effectively engaging in corporate social responsibility initiatives as well, İDO made modifications at terminals and on boats, provided sign langu- age training for personnel and continued various studies, such as unimpeded SMS service, and publishing tariffs in the Braille alphabet, during 2014 as a part of its “Unimpeded Seas” studies. As a result of these efforts, the company was presented with an award from the Federation of Hearing Impaired. • In 2014, BTA Maritime Lines, one of the best examples of utilizing the extensive know-how and experience of Akfen Holding for creating jobs and leveraging intra-group synergy, continued to render services at 75 points of sale, located at sea bus ports, fast ferry and ferryboat ports as well as on ferryboats and sea buses.

HUMAN, SPACE, LIFE 99 Human Resources Policy

Through its effective human resources policy, Tepe İnşaat makes labor productivity sustainable.

Tepe İnşaat’s human resources policy aims to recruit successful, dynamic, yee appreciation and reward systems, employee motivation is increased on an career-minded and motivated persons in line with the Company’s vision. The ongoing basis. Additionally, occupational health and safety, which is critical in policy is also designed to contribute to Tepe İnşaat’s sustainable corporate the construction business, is given special emphasis at Tepe İnşaat. development via employee-oriented approaches and practices that support the Company’s pursuit of strategic targets and overall performance. In short, the Human Resources Profile human resources policy supports achievement of company objectives in an efficient and productive way. Age Profile 18–24 19 Tepe İnşaat considers people as valued resources, which require attention and 25–34 65 development, rather than as cost components. Various human resource ma- 35–44 119 nagement techniques are used to prompt employees to demonstrate optimal 45–54 104 conduct both for them and for the organization. This is achieved by bringing 55 and above 24 employee qualifications and skills to the forefront and by fostering teamwork. Total 331 The overarching objective is to maximize the employee contributions, primarily through training, ensure effective integration with the organization and Breakdown by White/Blue Collar enhance satisfaction. Tepe İnşaat sees investment in human resources as a White Collar 179 capital expenditure, but not as a consumption cost. Blue Collar 152 In today’s world, most establishments are well aware that human resources Total 331 are the most important capital they have. A well-organized and well-executed human resource management function is critical in the effective utilization Gender Profile of this capacity. For enterprises, survival amounts to remaining competiti- Male 287 ve. Successful companies have come to realize that competitiveness may not Female 44 be maintained simply by keeping up with technology and bolstering their fi- Total 331 nances. As a result, businesses and other organizations began to place more importance on the human component than ever before. In brief, the relations- Educational Level hip between the secret of competitive edge and human resources is gaining Elementary School 119 strength every day. Secondary School 64 Associate degree 19 In light of this understanding, Tepe İnşaat has adopted the principle of ma- Undergraduate 120 naging human resources in the most effective and productive way in order to Graduate 9 achieve the Company’s strategic targets, and of leveraging human resources Total 331 of different qualifications and professions appropriately to achieve competitive advantage. Breakdown by Workplace Head Office 75 In the rapidly developing construction sector, the Company encourages the Domestic Contracting Projects 100 performance of employees in line with the importance it places on human Domestic Investment Projects 70 resources, while aiming to improve their standard of living. To this end, the International Contracting Projects 48 Company prioritizes employee training, career development and orientation Support Units 38 in all areas. Through business process analysis and design as well as emplo- Total 331

100 TEPE İNŞAAT 2014 ANNUAL REPORT SUSTAINABILITY Narcity, Maltepe, Istanbul

HUMAN, SPACE, LIFE 101 Occupational Safety, Environmental and Quality Policy

Steadily raising the bar in keeping with the continuous improvement approach, Tepe İnşaat strictly observes occupational health and safety best practices.

Tepe İnşaat ISO 9001 Quality Management System stakeholders in its influence area and carries out updates in line with current ne- Tepe İnşaat structures all its business processes using the quality manage- eds. During the integration of the Occupational Health and Safety Management ment system, in compliance with legal and regulatory requirements and at System into the corporate structure of the Company, the PDCA Cycle (Plan-Do-C- international standards. Steadily raising the bar in accordance with the con- heck-Act) developed in part by Edward Deming has been utilized. During the tinuous improvement approach, the Company observes the following key pri- System’s planning stage, hazards related to the Company activities are first orities when carrying out 2014 operations which it describes as “The Quality identified and an effective risk assessment is performed. During the assessment Journey”: process, preparations are made to prevent possible hazards with a proactive approach using quantifiable and concrete approaches as well as the previous • Tepe İnşaat has set quantifiable targets and processes to achieve results experiences and foresight gained within the Company. Following the risk as- that meet customer requirements. These conditions are in line with the sessments, occupational health and safety goals for various processes are set Company’s Quality Policy and were determined for all operations within in accordance with the current technological facilities and operating conditions each process, the input for the process, suppliers and necessary results as stipulated by the law as well as by the Company itself. Action plans formed in well as domestic/international clients and defined the relationship between relation to these goals are then implemented and continuously updated in light the processes. of recent developments. • To achieve efficiency in all processes, the methods, directives and regulations have been defined and the job descriptions of the process owners Employees, including subcontractors, at the construction sites and at units with and employees have been made as well as the area of their authority and similar operational activities, receive constant training about compliance with capabilities. methods defined in relation to occupational health and safety, sharing responsi- • Regarding management system practices at construction sites, Project Ma- bility, potential risk, and emergencies and using protective equipment. nagement plans have been made for each site and work has been underta- The effectiveness of the implementation of documented methods is also evalua- ken to maintain responsibility sharing and communication. ted throughout the process. • In line with the continuous improvement approach, the Company carries out planned internal audits by trained internal auditors twice a year; sub- The criteria for operational control is established by taking activities, equipment, sequently, senior management reviewed achievement rate for performance site-based directives, process-based regulations, practical checklists and moni- goals, the outcome of corrective and preventive operations, customer fe- toring and measurement plans into consideration; maximum effort is invested edback, training efficiency and similar processes and the results of other in order to prevent deviations. All accidents, incidents and near-miss events are analyses and measurements. The Company assessed the capacity, suita- analyzed multilaterally and permanent improvements are made in the system bility and efficiency of the system, made available necessary additional re- through statistical analyses and corrective and preventive actions. sources and implemented precautionary measures as needed. Construction Site Occupational Health and Safety supervisors constantly moni- Tepe İnşaat OHSAS 18001 Occupational Health and Safety tor field work and periodical controls, measurements, analyses and maintenance Management System work regarding each process is undertaken by process owners in accordance Having defined occupational health and safety implementations in accordance with the plans. System overhaul needs are identified and implemented through with OHSAS 18001 Management System standards, Tepe İnşaat strives to preplanned internal audits and detailed review meetings. improve its infrastructure in line with current needs and future expectations. Enjoying a strong brand reputation thanks to a corporate structure closely linked With its OHSAS 18001 Management System certification Tepe İnşaat effec- with innovation, Tepe İnşaat aims to continue implementing “best practices” in tively controls the occupational health and safety risk of its employees and occupational health and safety for stakeholders in the coming period.

102 TEPE İNŞAAT 2014 ANNUAL REPORT SUSTAINABILITY Mayfest, Bilkent, Ankara

HUMAN, SPACE, LIFE 103 104 TEPE İNŞAAT 2014 ANNUAL REPORT SUSTAINABILITY HUMAN, SPACE, LIFE 105 Bilkent University

Having started education activities in 1986 with 386 enrolled students, Bilkent University has become today a globally recognized educational institution that includes nine faculties and two colleges offering 29 undergraduate and 51 graduate degree programs, with 13,000 enrolled students and a faculty of academics from 40 different countries.

Bilkent University was founded on October 20, 1984 with the joint resoluti- Graduates of Bilkent University successfully represent their university both on of the İhsan Doğramacı Education Foundation, İhsan Doğramacı Health in the business community and in well-established educational institutions Foundation and İhsan Doğramacı Science and Research Foundation. Bilkent around the world. Established in 1988 to guide students in post-graduati- University is the first foundation university in Turkey. Bilkent has become on career planning, the Career Center maintains strong ties with students, one of the world’s leading universities, renowned for its quality of education, alumni and the professional world. The Career Center at Bilkent is the first scientific research and academic publications, cultural & art activities and facility opened by a Turkish university for such a purpose. the outstanding achievements of the students and alumni. The university is named to reflect this objective—Bilkent is the abbreviation of “bilim kenti” in As the leading university in Turkey and abroad in terms of the number of Turkish, which means “City of Science.” international academic publications per faculty member almost every year since its founding, Bilkent University maintains its pioneering role in higher Preparations to establish Bilkent University began in 1967 with the purcha- education in the country. se of a large tract to the west of Ankara and continued with the construction of the campus buildings in the late 1970s and early 1980s. The first buildin- Bilkent University in Figures gs on the campus are currently housing the Faculty of Engineering and the • Established in 1984 as Turkey’s first foundation university, Bilkent ope- Library. As the university developed and the number of students increased ned its doors to students in 1986. over the course of time, cafeterias, dormitories, a concert hall, sport facili- • Bilkent alumni number more than 37,000. ties, new faculty and college buildings were added; these were followed by • The campus is 12 km far from the citycenter and sits on a 5,000 acre tract, pre-school, elementary and high schools, two health centers, a computer of which 3,000 acres are forested. center building and scientific research facilities. • Almost 42% of the 13,000 students enrolled at the University are on a scholarship. Having started education activities in 1986 with 386 enrolled students, Bil- • University offer 29 graduate and 51 postgraduate degree programs, respe- kent University has become today a globally recognized educational institu- ctively. tion that includes nine faculties and two colleges offering 29 undergraduate • Bilkent has an academic staff from 40 different countries. and 51 graduate degree programs, with 13,000 enrolled students and a fa- • Faculty members were supported with a budget of nearly TL 400,000,000 culty of academics from 40 different countries. between 2005 and 2015 via 424 TÜBİTAK projects, 93 European Union projects and 260 private and public sector company projects. Via exchange program agreements with the world’s most distinguished • Student exchange programs are organized with more than 250 universi- universities, Bilkent provides its students with a global vision and further ties in 35 countries. boosts the high quality of education it provides. These educational instituti- • Visited by 800,000 researchers and students every year, the University ons, which include more than 250 universities, are located mainly in North Library offers world-class services with a collection of 470,000 books, America, Europe and the Far East. 124,000 electronic journals, 270,000 electronic books, 1,324 printed journals and 150 interactive databases. • More than 100 student clubs are active at the University. • With the initiatives they have developed since 1999, Bilkent students have provided support to elementary schools, senior citizens and others in need throughout Turkey.

106 TEPE İNŞAAT 2014 ANNUAL REPORT SUSTAINABILITY Bilkent University, Bilkent, Ankara

HUMAN, SPACE, LIFE 107 Bilkent University

• Student run and operated Radio Bilkent broadcasts at FM 96.6. • The University’s dormitories house 4,000 students. • The Health Center serves students 24/7. • Bilkent Symphony Orchestra (BSO), performs more than 50 concerts every year at the Bilkent Concert Hall, which seats 800 people. Bilkent Symphony Orchestra (BSO) is composed of musical artists from 13 different countries. • Approximately 100 established institutions visit Bilkent University each year to promote their organizations and to reach out to potential employees. • Established in 2002, Bilkent Cyberpark is one of Turkey’s most rapidly growing technology parks. With its 213 companies and seven research centers, the Cyberpark provides employment opportunities for more than 3,500 persons. • Bilkent University ranked 399th on the “World Universities” list published by Quacquarelli Symonds (UK), a well-known educational consultancy, and became one of two Turkish universities to first appear on this list. • Bilkent University ranked 28th on the “World’s Top 100 Young Universi- ties” list published by Times Higher Education (UK), a globally renowned publication in the higher education field.

108 TEPE İNŞAAT 2014 ANNUAL REPORT SUSTAINABILITY Contact Information

Tepe İnşaat Sanayi Anonim Şirketi Russia Country Representative Office 119435, Bolshoy Savvinskiy Per. 9, Building 2, Moscow, Russia Head Office Phone: +7 (495) 221 10 49 Beytepe Köyü Yolu No: 5, Bilkent, Ankara, Turkey Fax: +7 (495) 221 10 44 Phone: +90 (312) 266 58 00 (13 Lines) E-mail: [email protected] Fax: +90 (312) 266 78 38-39 Web: www.tepeconstruction.ru E-mail: [email protected] Business Development: [email protected] Azerbaijan Office Human Resources: [email protected] Hakverdiyev Küçesi Ev No: 21, Baku, Azerbaijan Phone: + 994 12498 14 95 Istanbul Office Fax: + 994 12498 92 57 Başıbüyük Mahallesi Emek Cad. No: 281/B Narcity Konutları, Maltepe, E-mail: [email protected] Istanbul, Turkey Phone: +90 (216) 675 08 00 – 01 Albania Office Fax: +90 (216) 675 08 02 Gjergji Business Center Floor 5 No: 1-2, Tirana, Albania E-mail: [email protected] Phone: + 355 42251187 Fax: + 355 42258360 Iraq Country Office-Erbil E-mail: [email protected] Gulan Street English Villages, No: 250, Erbil, Iraq GPS: N 36° 11’ 37” E 43° 58’ 16” Turkmenistan Office GSM: +964 750 396 34 34 Tepe Türkmen İnşaat ve Tic. A.Ş. Yimpaş Business Center 54, E-mail: [email protected] Turkmenbashi Avenue, Office Number: 701–B Ashgabat/Turkmenistan Iraq-Sulaymaniyah Office Phone: +993 (12) 450 291, +993 (12) 450 292 Sulaymaniyah New University Campus Qilyasan, Sulaymaniyah, Iraq Fax: +993 (12) 450 293 GSM: +964 770 364 34 66, +964 750 115 14 62 E-mail: [email protected] E-mail: [email protected] Web: www.tepeturkmen.com

194 TEPE İNŞAAT 2014 ANNUAL REPORT FINANCIAL STATEMENTS HUMAN-SPACE-LIFE Human... Space... Life. 2014 ANNUAL REPORT Operating in the construction sector, we conduct our business activities by strengthening concrete, steel and each square meter of construction, backed by our many TEPE İNŞAAT 2014 ANNUAL REPORT years of experience and our innovative ideas.

We construct “living buildings” that breathe and share life with people; buildings that add value to life in each and every square meter.