Message from the Chairman

Dear shareholders, business partners, and employees,

We have left behind a year where price stability and financial discipline were prioritized in the economy; and for businesses, efficiency, simplification, and effective cost management came to the forefront. In 2025, not only commercial performance but also resilience and strong operational management were decisive factors in the wholesale, retail, and out-of-home consumption sectors. Increases in energy, logistics, and labor costs, the tightening of credit channels making liquidity even more important, and changing customer expectations were critically important issues for our sector in 2025. This situation once again demonstrated the importance of a flexible, agile, and strong organizational structure.

As Bizim Toptan, with our industry experience and our flexible and agile management approach, we focused on making our operations more efficient in 2025 and took significant steps in this direction. We achieved significant gains in controlling operating expenses by carrying out optimization studies in many areas, from product supply to logistics, from store operations to head office cost management. In addition to cost management, in all our activities—from our sales activities to our store operations, from our TV commercials to our campaign communications, from our investments in store and digital infrastructure to our supply and distribution network strengthened by g2m—we continued to focus on both creating value for our customers and contributing to the national economy.

As Turkey's most widespread organized cash&carry company, we are at the center of a large ecosystem that serves hundreds of corporate customers, thousands of traditional channel customer, and individual consumers. As of the end of 2025, the number of Bizim Toptan stores reached 169, the number of Seç Market stores in our ecosystem reached 2,349, and the number of warehouses serving our entire organization became 14.

We also continued to develop our Bizim Gross concept. With the stores we converted and newly opened during the year, the number of Bizim Gross stores reached 7. These larger-format stores offer a comfortable and rich shopping experience to both individual customers and small businesses with their fresh products, hot bakery, open delicatessen, butcher, and café areas. In 2025, Bizim Gross became an important area that expanded our customer base and increased our competitiveness on the retail side.

With our Seç Market business model, which brings local traditional market players together with modern retail format, we continued to increase the competitive power of franchisess while delivering affordable branded and private label products to Seç stores, the majority of which are family-run businesses, all over our country. This model contributed to both local economies and the sustainable growth of the Bizim Toptan ecosystem. During the year, we also introduced the new franchisee management model to our business partners.

The integration process with our company g2m, which joined our family at the end of 2023, was substantially completed in 2025, and our leadership in the Out-of-Home Consumption (OOH) sector was further consolidated. By consolidating our Prosaf micro-distribution business under the g2m umbrella, we created a more efficient, faster structure that offers a wider product portfolio. This efficiency increases in our distribution network also visibly reduced our operational expenses.

Digitalization remained among our strategic priorities in 2025. While continuing our infrastructure investments that provide flexibility and speed in order processes, we improved our digital channel performance. With our "click-and-collect" model, where online orders are picked up from the store, we continued to touch the lives of our customers by contributing to their time management. With our data-driven operational management approach, we established more effective and sound decision-making mechanisms in stock, logistics, and pricing processes. We achieved an increase in efficiency with the shared-ownership warehouse management model.

In the upcoming period, we will continue to work with a focus on increasing our operational efficiency, strengthening our digital infrastructure, and raising customer satisfaction. In line with Yıldız Holding's "Waste-Free Company" principle, sustainability and resource efficiency will continue to be at the center of all our future strategic steps.

On this occasion, I would like to express my gratitude to all my colleagues, business partners, suppliers, customers, and shareholders who add value to Bizim Toptan and give us strength in every period.

Respectfully,

Cengiz Solakoğlu
Bizim Toptan Satış Mağazaları A.Ş.
Chairman of Board of Director