Dear Stakeholders,

We began the year 2023 with one of the most devastating natural disasters in February that deeply struck our country and affected many provinces. From day one of the disaster, we worked hard to heal our wounds, and stayed in touch with the government and NGOs to respond to the needs. In coordination with the Turkish Medicines and Medical Devices Agency, we managed to deliver 48,000 boxes of medicines to the region during that process. Aware of our responsibilities as a pharmaceutical company with a deep rooted history and growing strength, we will continue to serve the needs of the people in the region. I would like to take this opportunity to respectfully commemorate those who lost their lives in the earthquake and to wish patience to their loved ones.

The year 2023 was also significant in that it marked the 100th anniversary of the Republic of Turkey and the 65th anniversary of DEVA Holding, and we once again paid tribute to our great leader Mustafa Kemal Atatürk with fondness, respect and love. With years of experience and strong foundation, we will work further to contribute to the progress of our nation. We are aware that the best way to celebrate our Republic is through hard work, and we will continue to pave the way for our country's global and economic growth.

The global economic downturn and significant rise in input costs in 2023 have had a negative impact on the pharmaceutical industry, where production inputs are purchased in foreign currency. Despite the challenges in the industry, DEVA Holding successfully closed the year ranking 3rd with 5.2% market share in terms of boxes and 6th with 2.9% market share in TL, based on IQVIA data.

At DEVA, our mission for the past 65 years has been to make healthy living more accessible to everyone. Each year, we add new products to our portfolio and expand our therapeutic areas, always mindful of our responsibility to build a healthy and sustainable future. In addition to expanding our portfolio in oncology, hematology and immunology in 2023, we also launched numerous products in the areas of metabolic diseases, dermatology and nutritional supplements. As a local pharmaceutical company with global standards, we continue to strive to improve health around the world, and in our country in particular, through our value-added generic products, made available at treatment effective costs in a multitude of settings.

With an annual production capacity of 620 million boxes, our 3 major manufacturing plants in Çerkezköy and Kartepe have successfully passed numerous audits carried out by national and international health authorities in 2023. It is our goal to make efficacious treatment available to everyone by delivering products manufactured to high standards in our EU GMP and US FDA approved manufacturing plants to patients worldwide. For this purpose, we are strengthening our position not only in Turkish but also in international markets. As of year-end 2023, we hold 1,119 product authorizations in 65 countries worldwide. We have notably strengthened our presence in many European countries, the Americas, the Balkans, the Middle East and New Zealand.

The importance we place on R&D plays an important role in our sustainable success. As in previous years, last year we were also ranked as the top pharmaceutical company in Turkey with the highest R&D expenditure according to the R&D 250 survey by Turkishtime. Our extensive R&D team of 416 highly qualified experts continue their diligent efforts to serve public health at our laboratories and manufacturing sites equipped with latest technology.

At DEVA, we strongly believe that sustainability is a social and even a global responsibility that all of us should embrace for the world in which we live. We view sustainability as a determining factor in all of our processes, from manufacturing to distribution to the selection of our suppliers. We focus on sustainability in all its dimensions to attain our goals such as using our resources in the most efficient manner possible, drawing attention to environmental issues, ensuring that future generations inherit a livable world and making drugs available for everyone.

Dear Stakeholders,

We keep on creating a difference in today's rapidly changing world with our 65 years of experience, extremely experienced management team, 2,886 competent and qualified employees, strong product portfolio as well as our capabilities in terms of collaboration, agility and flexibility. Empowered by our past achievements, we will carry on endeavoring selflessly and offering solutions on a global scale to create a sustainable world as a global pharmaceutical company that is aware of its responsibilities.

Yours Sincerely,

Philipp Haas

Chairman of the Board of Directors & CEO