Remuneration Policy

PURPOSE

The purpose of the remuneration policy is, within the framework of the Corporate Governance Principles of the BRSA and CMB, to determine in writing the procedures and principles that will prevent excessive risk taking and contribute to effective risk management in order to ensure compliance with strategies, long-term goals and risk structure of Aklease.

With the remuneration policy, which is structured to acquire, protect, reward and motivate the human resources that is necessary for sustainable success, it is also aimed to prevent risks such as practices or behaviors that may adversely affect customers, stakeholders or markets, causing customer damage, financial penalties or loss of reputation.

SCOPE

The Remuneration Policy determines the remuneration principles and rules applicable to the General Manager, Assistant General Managers and all Aklease employees.

Remuneration and personal rights of all employees are determined by this policy document.

RESPONSIBILITIES

Prepared By : Department of People and Culture
Approved By : Board of Directors
Published By : Department of People and Culture
Users : All Aklease employees and those working on behalf of Aklease are within the scope of this document.

PRINCIPLE

Remuneration

Remuneration for senior management and other employees are in line with Aklease's ethical values, internal balances and strategic goals. All employees are remunerated according to their responsibilities.
Remuneration Scale and Remuneration Range:

The remunerations of all our employees are managed with range of remunerations determined for each level. In order to ensure remunerations justice, it is aimed that employees who perform similar duties receive similar remunerations. For this purpose, the levels of duties have been determined depending on their powers and responsibilities. remunerations levels and ranges are reviewed in every raise period.

Rewarding High Performance

According to the results of the Performance Evaluation System, it is aimed that employees who perform above the expected level will receive higher remuneration increases and higher bonuses.

Performance-based Payments

Performance measurements of the relevant periods are taken into account in remuneration and bonus studies. Performance-based payments, especially bonus payments, are not guaranteed in advance.

Remuneration Confidentiality

In Aklease, it is essential that remuneration and other monetary payments are private and confidential. Violation of confidentiality by the employee is the subject of the disciplinary committee.

DETERMINATION OF THE REMUNERATION POLICY

Remuneration policy and practices are one of the important factors in ensuring employee loyalty and improving performance. The following points are taken into account when determining the remuneration policy, which is created with the aim of attracting new talents to our company and protecting our high-performing employees.

Internal Factors

While determining Aklease’s remuneration structure,

• Aklease remuneration balance and budget opportunities,
• Job description and level of responsibility of the employees,
• Individual performance of each employee,
• Competencies of the employee,
• Compliance with Aklease's internal and external legislation

are taken into account.

External Factors

While determining the Aklease remuneration policy, sectoral data are taken into account in order to compete with the sector, to bring new talents to our company and to reduce external mobility. Aklease's position in the sector is taken into account, according to the results of the Leasing Sector wage survey conducted by independent organizations while establishing the remuneration and bonus model for the employees.

IMPLEMENTATION OF REMUNERATION POLICY

The general application principles of the remuneration policy are as follows.

Financial Rights Provided to Senior Management:

The rights and remuneration principles to be provided to the members of the Board of Directors are determined by the Akbank Board of Directors.

Wage Increases

• Remuneration increase is made once a year.
• It is determined on the basis of the following criteria in determining the increase budget in remuneration increase periods.
• Past inflation rates
• Areas of application of competitive policies
• Aklease's position in the industry
• The rate of increase is shared with Akbank Human and Culture Business Unit.
• It is aimed to implement similar remuneration policy in equal works and to ensure that individual differentiations are based on performance.
• In order to reward high performance, employees who are below the average of Aklease's remuneration range according to remuneration level, but who perform well, receive higher remuneration increases.
• In order to determine Aklease's position in the sector, salary surveys made by independent consultancy firms are analyzed and the position of Aklease in the sector is determined.
• Remuneration increase information for the relevant period is shared with the employees.

Determination of New Wages After Promotion and Change of Position:

If there is a change in the remuneration level of the employees who are promoted or whose position has changed, the new remuneration is determined depending on the position of the employee in the new level.

Performance Premium

Bonus payments are made for:

• Increasing the efficiency of employees in achieving corporate goals, ensuring continuity of performance,
• Separating successful employees by emphasizing individual performance,
• Rewarding employees who create added value for the institution in this direction.

The bonus system includes the General Manager, Assistant General Managers, Headquarters and Field employees. In determining the amount of bonus to be distributed, factors such as credit risk, operational risk, regulatory risk, reputational risk, together with the risk management concepts being applied are taken into account. In addition, the necessity of protecting Aklease and the customer's interests is taken into consideration in all kinds of actions that ensure the performance that forms the basis of the bonus.

Relevant bonuses of Aklease in-house lawyers are paid within the scope of Legal Performance Bonus System.

Campaign Awards

These are the awards granted to employees and/or teams, provided that pre-determined criteria are fulfilled within the framework of the defined rules regarding the campaigns organized with the aim of achieving a special and clearly defined goal.

Other Awards

These awards are granted to contribute directly to the motivation and productivity of Aklease employees, to increase job satisfaction, to recognize, appreciate and encourage employees with superior performance, and to strengthen the commitment of employees to their profession and Aklease.

Side Benefits

It means the material or intangible benefits and payments made in addition to the renumeration. It is determined by considering criteria such as job description, task level, authority level and budget.

MONITORING, AUDIT AND REPORTING REMUNERATION PRACTICES

Necessary actions are taken in accordance with the Disciplinary Regulations for those who are determined by the relevant departments to endanger the safe operation of Aklease or to be responsible for the deterioration of Aklease's financial structure. The related process is carried out by Aklease Internal Control Department.

EFFECTIVENESS AND REVISION

This document and the amendments to be made in the document enters into force on the date approved by the Board of Directors.