CODE OF ETHICS

Vestel Elektronik Sanayi ve Ticaret AŞ and Vestel Beyaz Eşya Sanayi ve Ticaret AŞ carry out their activities within the framework of their Code of Ethics, which have been prepared by the Board of Directors and submitted to the information of shareholders at the General Assembly. The Code of Ethics for each company is announced on the related company’s Investor Relations website. Vestel Elektronik and Vestel Beyaz Eşya also accepted the Code of Ethics of Zorlu Holding AŞ which was prepared by the Board of Directors of Zorlu Holding AŞ, the main shareholder of both companies. Code of Ethics of Zorlu Holding AŞ applies to both Zorlu Holding and Zorlu Group companies. Code of Ethics is a set of essential rules which has been formulated to govern company-wide relationships, the relationships between the Company and its employees, and the relationships of employees and the Company with the customers, suppliers, and other stakeholders in order to achieve the most effective use of resources and to prevent unfair competition.