CarrefourSA establishes and implements its policies in accordance with corporate governance principles. Our policies can be found in our 'corporate governance compliance' report published every year and on our official website.

The Company's capital is equal to TRY 127,773,766 and is divided into 12,777,376,572 shares, each of which is worth 1 Kurus.

10.72 percent of CarrefourSA Carrefour Sabancı Ticaret Merkezi A.Ş. is publicly traded.

Annual Ordinary General Meetings are held within the periods specified in the legislation in accordance with the Company policy and the related event is announced on our official web page and www.kap.org.tr in a timely manner.

CarrefourSA Carrefour Sabancı Ticaret Merkezi A.Ş. ("Company" or "CarrefourSA") has adopted the principle of complying with the Corporate Governance Principles published by the Capital Markets Board of Turkey ("CMB") and the four principles of Corporate Governance based on Transparency, Fairness, Responsibility and Accountability. You can find detailed information on corporate governance of our Company in the "Corporate Governance Compliance" report published every year at the end of the accounting period. The said report is made available to stakeholders for their review on our official web page and www.kap.org.tr platform.

On July 13, 2005, our Company acquired 65.33% of the shares of Gima Gıda ve İhtiyaç Maddeleri T.A.Ş. ("Gima") and 34.95% of the shares of Endi Tüketim Malları Ticaret ve Sanayi A.Ş. ("Endi"). Accordingly, our Company took over 81 stores. As per the Board of Directors resolution dated January 24, 2006, all Endi shares were sold to DiaSA Dia Sabancı Süpermarketleri Tic. A.Ş. The acquisition of (merger with) Gima by way of dissolution without liquidation and total succession with all its assets and liabilities was completed on 31.07.2006. According to the Transfer Agreement executed by and between our Company and Pınar Marketçilik Gıda Maddeleri Pazarlama İnşaat Taahhüt Kozmetik Ürünler Otomobilcilik İthalat İhracat Turizm Ticaret ve Sanayi Limited Şirketi ("Pınar") on 09.01.2009, 12 supermarkets and tenancy rights of Pınar were transferred to our Company. On July 1, 2010, the Company acquired 99,99% of the shares of İpek Giyim Mağaza Sanayii Ticaret A.Ş. ("Alpark"). The acquisition of (merger with) Alpark through dissolution without liquidation and total succession with all its assets and liabilities was completed on 06.01.2011. As a result of the merger, our Company took over 27 supermarkets owned by Alpark. Within the scope of the Transfer Agreement executed by and between our Company and İsmar Marketler Zinciri Gıda ve Tüketim Mal. San. ve Tic. A.Ş. ("İsmar") on 02.02.2015, 26 super markets operated by İsmar were transferred to our Company. Within the scope of the Transfer Agreement executed by and between the Company and Antalya Market İşletmeciliği Sanayi ve Ticaret Anonim Şirketi ("Antalya Market") on 13.03.2015, 29 super markets operated by Antalya Market were transferred to our Company. On May 15, 2015, the Company and Kiler Holding Anonim Şirketi, Nahit Kiler, Ümit Kiler, Vahit Kiler, Hikmet Kiler, Sevgül Kiler and Denge Reklam San. ve Tic. Ltd. Şti. ("the Sellers") entered into a Share Purchase and Sale Agreement for the purchase of 85% of the shares of Kiler Alışveriş Hizmetleri Gıda Sanayi ve Ticaret Anonim Şirketi ("Kiler Alışveriş"), 15% of the total capital of which is publicly traded on Borsa Istanbul A.Ş., by the Company. The said share purchase and sale request was approved by the Competition Board with the letter dated June 30, 2015 and numbered 61813209-120-6544. The Company took over 85% of the shares of Kiler Alışveriş, which represent all non-public shares of Kiler Alışveriş, as of July 8, 2015 and paid the previously agreed purchase price to the sellers in cash on the same day. As a result of the mandatory call made by the Company for the shares of Kiler Alışveriş between September 17 - October 5, 2015, the Company's shareholding ratio reached 97,27%. In accordance with the Board of Directors' resolution dated October 20, 2015, the Company decided to merge with Kiler Alışveriş through takeover and the said merger was approved by the CMB's decision dated November 27, 2015 and numbered 32/1493. The merger with Kiler Alışveriş Hizmetleri Gıda Sanayi ve Ticaret Anonim Şirketi and Kiler Ankara Mağazacılık San. Tic. A.Ş., a subsidiary of Kiler Alışveriş, was registered before the Trade Registry Office on 31.12.2015. As in the past, our Company will evaluate both organic and inorganic growth alternatives when favorable acquisition opportunities arise.

A Collective Labor Agreement is executed by and between our Company and Tez-Koop-Trade Union representing our unionized personnel.