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     [STRATEGY AND MANAGEMENT]
 ETHICS MANAGEMENT
 OF SUPPLIERS
            — Borusan Group companies don’t
            do business with clients and suppliers
            who disregard business ethics and
            break the laws. In 2015, we prepared
            Borusan Group Supplier Working
            Conditions Protocol to be signed by
            subcontractors and suppliers, according
            to the objectives set by Audit and
            Purchasing departments. More than 150
            contracted suppliers signed the protocol.
            In 2016, there was no unethical action,
            legal noncompliance or corruption case
            identified throughout the Group or in
            business partners and suppliers to our
            knowledge. —
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