Esteemed Stakeholders,

With over half a century of business experience, more than 60 companies and nearly 30,000 employees, as Zorlu Group, we currently export our products to 155 countries around the world. We thus take justified pride in improving consumers’ lives in various geographies with our products.

We operate with the awareness that we can only carry forward the sustainability and success of our operations in our core business areas, which include consumer electronics, household appliances, textile, energy, real estate development and mining-metallurgy, by developing a comprehensive understanding of sustainability. With this awareness, we map global risk trends that affect or are likely to affect our activities and manage these risks through a holistic approach which starts at the Holding level. This approach then spreads across our subsidiaries while factoring in their specific experiences and backgrounds.

We attain long-term profitable growth by sharing the value we generate. Since inception, we have strived to undertake investments which create a lasting and positive effect through our entrepreneurship approach, which is an integral part of our corporate culture. We realize our dream of creating a better world through our human resources and the products and technologies we develop.

As Zorlu Group, we put the “human” factor at the center of our operations. A sustainable development understanding which adds value to people and society leads all of our activities. We strive to reinforce our support for a democratic and steady society model with our works which add value to the lives of our stakeholders extending from our employees to our customers. With our products and services, we continuously aim to offer a better life to people. Our Group has been working to contribute to Turkey’s development in light of these values and principles for 65 years.

The United Nations Global Compact, which we signed in 2007, and which is congruent with our Group’s values, has been a guiding element in shaping our vision and reinforcing our sustainability approach. As Zorlu Group, we will continue to enhance our achievements in this area with our approach of “always do better together” by sticking to the United Nations Global Compact and internalizing its principles. While we continue to produce and work for the future of Turkey as one of the most powerful actors of the country’s 2023 vision, we believe that these achievements will be the driving force behind our contribution to the welfare and happiness of our people.

I am proud to highlight the developments towards sustainability, which we have internalized as one of our core values. Vestel Elektronik Sanayi ve Ticaret AŞ (“Vestel Elektronik”), one of the Group’s publicly traded companies, was included in the Borsa İstanbul (“BIST”) Sustainability Index, which comprises the shares of listed companies with a high corporate sustainability performance, for the first time as of 2 November 2015. As in 2016, Vestel Elektronik continued to meet the required criteria for the BIST Sustainability Index and was included in the Index for the November 2017 - October 2018 period. Vestel Beyaz Eşya Sanayi ve Ticaret AŞ, a subsidiary of Vestel Elektronik, has also been included in the BIST Sustainability Index on a voluntary basis since November 2016. Having continued to meet the criteria of the Sustainability Index of Borsa Istanbul, Vestel Beyaz Eşya is taking part in the Index for the second time on a voluntary basis for the November 2017 - October 2018 period. We view the creation of lasting value for our country and our stakeholders as part of our mission and our responsibility, both today and going forward.

Yours faithfully,

Ahmet Nazif Zorlu
Chairman of the Board