Essas Holding's Major Transformation Strategy for Pegasus Shares

Critical Application from Esas Holding

Esas Holding has made a significant transformation move regarding its subsidiary Pegasus Airlines Inc. (#PGSUS). The company has applied to the Capital Markets Board (CMB) requesting that 10% of Pegasus's capital, which corresponds to a total nominal value of 50 million TL, be classified as shares traded on Borsa Istanbul.

Application in Compliance with Legal Regulations

The application was stated to be prepared within the framework of the CMB's Pay Communiqué numbered VII-128.1, highlighting the critical importance of this process from a financing perspective. Esas Holding announced that the mentioned shares are planned to be used as collateral in a three-year term loan financing.

Trading of Shares and Use of Collateral

On December 26, 2025, the necessary procedures were carried out with the Capital Markets Board for the approval of the "Share Sale Information Form" prepared within the scope of the application. This action was conducted for the purpose of providing collateral to financial institutions. However, it was also emphasized that this situation would not hinder the exercise of shareholders' rights by Esas Holding.

No Share Sales for Three Years

Esas Holding declared its commitment that the shares expected to be traded following the transformation process will not be sold on or off the stock exchange for three years. This effort draws attention as part of the company's goal to maintain financial health and market stability.

Thus, with the transformation of Pegasus shares, Esas Holding aims to secure financing conditions while also enhancing corporate governance standards. This strategy carries elements that will attract the attention of investors and market analysts.