Ethical Principles
They are those principles for profit companies and their employees give priority to, whether it is
outside or within the company, in their relations with other employees, shareholders, customers,
suppliers, government organizations, competitors and the society as a whole, as well as the
responsibilities they assume.
I. Working Culture:

Ülker Biscuits treats its suppliers as work partners,; does not compromise on fairness and honesty and maintains
and fulfills its responsibilities in contractual business relationships.

The principle of “fairness” is integral to Ülker’s business concepts. Relationships that Ülker forms with group
companies, employees, customers, suppliers, partners, shareholders and society are based on openness and
fairness.

Ülker Biscuits fulfills all legal responsibilities law and maintains its business principles. The company assumes
responsibility for the implementation of laws and . Ensures that all issues are clarified with regard to violation of
the law, regulations, company principles and ethical standards.

Ülker’s business culture includes acting in a customer-focused manner. Ülker Biscuits believes that the loyalty
of its customers is due to the company’s determination to meet its customers’ needs, the high-quality goods and
services it provides and adherence to its principles.
They are those principles for profit companies and their employees give priority to, whether it is outside or within
the company, in their relations with other employees, shareholders, customers, suppliers, government organizations,
competitors and the society as a whole, as well as the responsibilities they assume.
I. Working Culture:

Ülker Biscuits treats its suppliers as work partners,; does not compromise on fairness and honesty and maintains
and fulfills its responsibilities in contractual business relationships.

The principle of “fairness” is integral to Ülker’s business concepts. Relationships that Ülker forms with group
companies, employees, customers, suppliers, partners, shareholders and society are based on openness and
fairness.

Ülker Biscuits fulfills all legal responsibilities law and maintains its business principles. The company assumes
responsibility for the implementation of laws and . Ensures that all issues are clarified with regard to violation of
the law, regulations, company principles and ethical standards.

Ülker’s business culture includes acting in a customer-focused manner. Ülker Biscuits believes that the loyalty
of its customers is due to the company’s determination to meet its customers’ needs, the high-quality goods and
services it provides and adherence to its principles.
II. Social Awareness:

Ülker Biscuits feels that it has a responsibility to be socially aware and obligation to get involved in activities
that improve the quality of society.

Ülker Biscuits contributes voluntarily to create ways to better society and the environment.

Ülker Biscuits encourages its employees to attend social activities that increase their awareness of social issues.

Ülker Biscuits strives to improve the well-being of children, elderly people, women and the disabled. The
Company emphasizes its sensitivity to social issues by supporting projects to improve them.
III. Positive Business Relations, Impartiality and Equal Opportunity:

Ülker Biscuits, attaches importance to respectful behavior toward its
employees/customers/suppliers/partners/shareholders and society. It treats all individuals with respect.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits nominates and chooses its representatives, lawyers, mediators and consultants on the basis of their
honesty, truthfulness, impartiality and respect for the law.

Ülker Biscuits avoids relationships, influences and events that may prevent or seem to prevent it from making
impartial and fair decisions during the course of business.
They are those principles for profit companies and their employees give priority to, whether it is outside or within
the company, in their relations with other employees, shareholders, customers, suppliers, government organizations,
competitors and the society as a whole, as well as the responsibilities they assume.
I. Working Culture:

Ülker Biscuits treats its suppliers as work partners,; does not compromise on fairness and honesty and maintains
and fulfills its responsibilities in contractual business relationships.

The principle of “fairness” is integral to Ülker’s business concepts. Relationships that Ülker forms with group
companies, employees, customers, suppliers, partners, shareholders and society are based on openness and
fairness.

Ülker Biscuits fulfills all legal responsibilities law and maintains its business principles. The company assumes
responsibility for the implementation of laws and . Ensures that all issues are clarified with regard to violation of
the law, regulations, company principles and ethical standards.

Ülker’s business culture includes acting in a customer-focused manner. Ülker Biscuits believes that the loyalty
of its customers is due to the company’s determination to meet its customers’ needs, the high-quality goods and
services it provides and adherence to its principles.
II. Social Awareness:

Ülker Biscuits feels that it has a responsibility to be socially aware and obligation to get involved in activities
that improve the quality of society.

Ülker Biscuits contributes voluntarily to create ways to better society and the environment.

Ülker Biscuits encourages its employees to attend social activities that increase their awareness of social issues.

Ülker Biscuits strives to improve the well-being of children, elderly people, women and the disabled. The
Company emphasizes its sensitivity to social issues by supporting projects to improve them.
III. Positive Business Relations, Impartiality and Equal Opportunity:

Ülker Biscuits, attaches importance to respectful behavior toward its
employees/customers/suppliers/partners/shareholders and society. It treats all individuals with respect.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits nominates and chooses its representatives, lawyers, mediators and consultants on the basis of their
honesty, truthfulness, impartiality and respect for the law.

Ülker Biscuits avoids relationships, influences and events that may prevent or seem to prevent it from making
impartial and fair decisions during the course of business.

Ülker Bisküvi gives importance to variety among its employees, shows respect to their personal qualifications
and character as well as ensures that all its employees adopt and apply these behaviors.

Ülker Bisküvi considers its employees’ proposals to be an opportunity for the development of the organization
and processes.

Ülker Bisküvi informs suppliers of required terms clearly in purchases and evaluates proposals impartially for its
benefits and as required by the understanding of business ethics.

Ülker Bisküvi respects equality of opportunities in its relations with the Distributor.

Ülker Biscuits obeys all legislation (the law, statue and regulations etc.) and provisions of authorized bodies
IV. Relations with Suppliers and Competitors:
about protecting competition.

Ülker Biscuits does not make any negative statements against its competitors and their managers by giving their
names through the media.

Ülker Biscuits does not communicate and make an agreement with competitor firms for boycotting its customers
or suppliers.

Ülker Biscuits does not communicate and make an agreement with competitor firms for issues like preventing
new competitors, fixing product prices and sharing regions/markets/customers

Ülker Biscuits never tolerates any unethical behavior with respect to access to information about other
companies and prevents its customers from acting in such a manner. However, it does not mind using public
information about companies (web sites, price lists, advertisements, published documents etc.).

Ülker Biscuits does not employ the first order relatives (spouses, siblings, children, parents) of the employees in
critical positions at its competitors.
They are those principles for profit companies and their employees give priority to, whether it is outside or within
the company, in their relations with other employees, shareholders, customers, suppliers, government organizations,
competitors and the society as a whole, as well as the responsibilities they assume.
I. Working Culture:

Ülker Biscuits treats its suppliers as work partners,; does not compromise on fairness and honesty and maintains
and fulfills its responsibilities in contractual business relationships.

The principle of “fairness” is integral to Ülker’s business concepts. Relationships that Ülker forms with group
companies, employees, customers, suppliers, partners, shareholders and society are based on openness and
fairness.

Ülker Biscuits fulfills all legal responsibilities law and maintains its business principles. The company assumes
responsibility for the implementation of laws and . Ensures that all issues are clarified with regard to violation of
the law, regulations, company principles and ethical standards.

Ülker’s business culture includes acting in a customer-focused manner. Ülker Biscuits believes that the loyalty
of its customers is due to the company’s determination to meet its customers’ needs, the high-quality goods and
services it provides and adherence to its principles.
II. Social Awareness:

Ülker Biscuits feels that it has a responsibility to be socially aware and obligation to get involved in activities
that improve the quality of society.

Ülker Biscuits contributes voluntarily to create ways to better society and the environment.

Ülker Biscuits encourages its employees to attend social activities that increase their awareness of social issues.

Ülker Biscuits strives to improve the well-being of children, elderly people, women and the disabled. The
Company emphasizes its sensitivity to social issues by supporting projects to improve them.
III. Positive Business Relations, Impartiality and Equal Opportunity:

Ülker Biscuits, attaches importance to respectful behavior toward its
employees/customers/suppliers/partners/shareholders and society. It treats all individuals with respect.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits nominates and chooses its representatives, lawyers, mediators and consultants on the basis of their
honesty, truthfulness, impartiality and respect for the law.

Ülker Biscuits avoids relationships, influences and events that may prevent or seem to prevent it from making
impartial and fair decisions during the course of business.

Ülker Bisküvi gives importance to variety among its employees, shows respect to their personal qualifications
and character as well as ensures that all its employees adopt and apply these behaviors.

Ülker Bisküvi considers its employees’ proposals to be an opportunity for the development of the organization
and processes.

Ülker Bisküvi informs suppliers of required terms clearly in purchases and evaluates proposals impartially for its
benefits and as required by the understanding of business ethics.

Ülker Bisküvi respects equality of opportunities in its relations with the Distributor.

Ülker Biscuits obeys all legislation (the law, statue and regulations etc.) and provisions of authorized bodies
IV. Relations with Suppliers and Competitors:
about protecting competition.

Ülker Biscuits does not make any negative statements against its competitors and their managers by giving their
names through the media.

Ülker Biscuits does not communicate and make an agreement with competitor firms for boycotting its customers
or suppliers.

Ülker Biscuits does not communicate and make an agreement with competitor firms for issues like preventing
new competitors, fixing product prices and sharing regions/markets/customers

Ülker Biscuits never tolerates any unethical behavior with respect to access to information about other
companies and prevents its customers from acting in such a manner. However, it does not mind using public
information about companies (web sites, price lists, advertisements, published documents etc.).

Ülker Biscuits does not employ the first order relatives (spouses, siblings, children, parents) of the employees in
critical positions at its competitors.
V. Customer Satisfaction:

Ülker Biscuits corrects product problems that arise from its companies or channels until the delivery of the
product to the customers promptly. The Company is accessible and prevents unfair treatment of customers in this
respect.

Ülker Biscuits tries to carry product quality behind customers’ expectations.

Ülker Biscuits focuses to form a structure that serves with a customer satisfaction oriented global and local
understanding and is consistent with customs and traditions of the society it acts in.
VI. Product and Service Quality:

Ülker Biscuits realizes our target of prompt and healthy development, contributes to the formation of legal
regulations and maintains a full protection of our intellectual and industrial property rights with our corporate
identity and is in full loyalty to national and international legislation.

Ülker Biscuits, conducts its activities according to national quality standards like TSE and international
standards like ISO, OHSES, BRC and IFS as well as maintaining its quality certificates in cooperation with all
its employees.

Food technology all around the world is developing fast and new products and inventions contributing to the
well-being of the mankind are being developed. Ethical approach of Ülker Biscuits is to use these technologies
that contribute to the lives of individuals and support their well-being as the pioneering firm and to develop
products that contribute to these technologies.

Ülker Biscuits does not use in its products the ingredients that are known to be harmful to health and states all
contents of its products clearly on their packaging.

Ülker Biscuits definitely takes care of health and hygiene discipline of its products during the production and
marketing processes.

Ülker Biscuits does not provide products or services that might harm and/or mislead its customers and
consumers.
VII. Employee Rights and Work Security:

Ülker Biscuits ensures that personal rights of its employees are completely/properly given on time.

Ülker Biscuits attaches importance to personal development of its employees in addition to business targets and
the company’s competitive strength and takes steps in this respect.

Ülker Biscuits provides its employees with an efficient and happy working environment which is dominated by
values like honesty, coherence, respect, trust and responsibility and in which each and every employee can
express himself/herself.

Ülker Biscuits encourages its employees to get involved in social activities voluntarily.

Ülker Biscuits takes any measures as well as equipment and procedures necessary for the workers’ health and
security.
VIII. Protection of Shareholders’ Benefits:

In purchase and sale of company shares, Ülker Biscuits ensures loyalty to the law and trustworthiness, regards
the benefits and opinions of its shareholders, respects moral values, does not allow speculations, obeys
restrictions arising from current legislations and acts transparently.
They are those principles for profit companies and their employees give priority to, whether it is outside or within
the company, in their relations with other employees, shareholders, customers, suppliers, government organizations,
competitors and the society as a whole, as well as the responsibilities they assume.
I. Working Culture:

Ülker Biscuits treats its suppliers as work partners,; does not compromise on fairness and honesty and maintains
and fulfills its responsibilities in contractual business relationships.

The principle of “fairness” is integral to Ülker’s business concepts. Relationships that Ülker forms with group
companies, employees, customers, suppliers, partners, shareholders and society are based on openness and
fairness.

Ülker Biscuits fulfills all legal responsibilities law and maintains its business principles. The company assumes
responsibility for the implementation of laws and . Ensures that all issues are clarified with regard to violation of
the law, regulations, company principles and ethical standards.

Ülker’s business culture includes acting in a customer-focused manner. Ülker Biscuits believes that the loyalty
of its customers is due to the company’s determination to meet its customers’ needs, the high-quality goods and
services it provides and adherence to its principles.
II. Social Awareness:

Ülker Biscuits feels that it has a responsibility to be socially aware and obligation to get involved in activities
that improve the quality of society.

Ülker Biscuits contributes voluntarily to create ways to better society and the environment.

Ülker Biscuits encourages its employees to attend social activities that increase their awareness of social issues.

Ülker Biscuits strives to improve the well-being of children, elderly people, women and the disabled. The
Company emphasizes its sensitivity to social issues by supporting projects to improve them.
III. Positive Business Relations, Impartiality and Equal Opportunity:

Ülker Biscuits, attaches importance to respectful behavior toward its
employees/customers/suppliers/partners/shareholders and society. It treats all individuals with respect.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits nominates and chooses its representatives, lawyers, mediators and consultants on the basis of their
honesty, truthfulness, impartiality and respect for the law.

Ülker Biscuits avoids relationships, influences and events that may prevent or seem to prevent it from making
impartial and fair decisions during the course of business.

Ülker Bisküvi gives importance to variety among its employees, shows respect to their personal qualifications
and character as well as ensures that all its employees adopt and apply these behaviors.

Ülker Bisküvi considers its employees’ proposals to be an opportunity for the development of the organization
and processes.

Ülker Bisküvi informs suppliers of required terms clearly in purchases and evaluates proposals impartially for its
benefits and as required by the understanding of business ethics.

Ülker Bisküvi respects equality of opportunities in its relations with the Distributor.

Ülker Biscuits obeys all legislation (the law, statue and regulations etc.) and provisions of authorized bodies
IV. Relations with Suppliers and Competitors:
about protecting competition.

Ülker Biscuits does not make any negative statements against its competitors and their managers by giving their
names through the media.

Ülker Biscuits does not communicate and make an agreement with competitor firms for boycotting its customers
or suppliers.

Ülker Biscuits does not communicate and make an agreement with competitor firms for issues like preventing
new competitors, fixing product prices and sharing regions/markets/customers

Ülker Biscuits never tolerates any unethical behavior with respect to access to information about other
companies and prevents its customers from acting in such a manner. However, it does not mind using public
information about companies (web sites, price lists, advertisements, published documents etc.).

Ülker Biscuits does not employ the first order relatives (spouses, siblings, children, parents) of the employees in
critical positions at its competitors.
V. Customer Satisfaction:

Ülker Biscuits corrects product problems that arise from its companies or channels until the delivery of the
product to the customers promptly. The Company is accessible and prevents unfair treatment of customers in this
respect.

Ülker Biscuits tries to carry product quality behind customers’ expectations.

Ülker Biscuits focuses to form a structure that serves with a customer satisfaction oriented global and local
understanding and is consistent with customs and traditions of the society it acts in.
VI. Product and Service Quality:

Ülker Biscuits realizes our target of prompt and healthy development, contributes to the formation of legal
regulations and maintains a full protection of our intellectual and industrial property rights with our corporate
identity and is in full loyalty to national and international legislation.

Ülker Biscuits, conducts its activities according to national quality standards like TSE and international
standards like ISO, OHSES, BRC and IFS as well as maintaining its quality certificates in cooperation with all
its employees.

Food technology all around the world is developing fast and new products and inventions contributing to the
well-being of the mankind are being developed. Ethical approach of Ülker Biscuits is to use these technologies
that contribute to the lives of individuals and support their well-being as the pioneering firm and to develop
products that contribute to these technologies.

Ülker Biscuits does not use in its products the ingredients that are known to be harmful to health and states all
contents of its products clearly on their packaging.

Ülker Biscuits definitely takes care of health and hygiene discipline of its products during the production and
marketing processes.

Ülker Biscuits does not provide products or services that might harm and/or mislead its customers and
consumers.
VII. Employee Rights and Work Security:

Ülker Biscuits ensures that personal rights of its employees are completely/properly given on time.

Ülker Biscuits attaches importance to personal development of its employees in addition to business targets and
the company’s competitive strength and takes steps in this respect.

Ülker Biscuits provides its employees with an efficient and happy working environment which is dominated by
values like honesty, coherence, respect, trust and responsibility and in which each and every employee can
express himself/herself.

Ülker Biscuits encourages its employees to get involved in social activities voluntarily.

Ülker Biscuits takes any measures as well as equipment and procedures necessary for the workers’ health and
security.
VIII. Protection of Shareholders’ Benefits:

In purchase and sale of company shares, Ülker Biscuits ensures loyalty to the law and trustworthiness, regards
the benefits and opinions of its shareholders, respects moral values, does not allow speculations, obeys
restrictions arising from current legislations and acts transparently.

Ülker Biscuits attaches importance to sustainable profitability in its investments and manages its existing
investments efficiently.

Ülker Biscuits designs/conducts its operations according to the law and corporate ethics in order to protect the
company’s reputation and value.
IX. Discrimination and Harassment:

Ülker Biscuits definitely rejects sexual, social and physical harassment and annoyance of any of its employees or
their similar behaviors against others.

Ülker Biscuits definitely rejects subjection of any of its employees to psychological harassment such as
discrimination, exclusion and deterrence and their similar behaviors against others.

Ülker Biscuits remains impartial to all bodies/organizations without making discrimination on the basis of
religion/ language/ race/ gender/ culture/ opinion. It provides a working environment where differences are
tolerated and accepted. Ülker Bisküvi expects its employees to behave so.
X. Fairness of Records:

Ülker Biscuits prepares all records of its companies financial tables properly, completely and in accordance with
related principles and legal rules. It ensures that relations with organizations and people outside the company are
recorded in accordance with all the legislation (the law, statue and regulations etc.) and on time.

Ülker Biscuits employees who attend proposals, tender preparations or contract meetings are responsible for
fairness and correctness of all the information they give to prospective suppliers.
They are those principles for profit companies and their employees give priority to, whether it is outside or within
the company, in their relations with other employees, shareholders, customers, suppliers, government organizations,
competitors and the society as a whole, as well as the responsibilities they assume.
I. Working Culture:

Ülker Biscuits treats its suppliers as work partners,; does not compromise on fairness and honesty and maintains
and fulfills its responsibilities in contractual business relationships.

The principle of “fairness” is integral to Ülker’s business concepts. Relationships that Ülker forms with group
companies, employees, customers, suppliers, partners, shareholders and society are based on openness and
fairness.

Ülker Biscuits fulfills all legal responsibilities law and maintains its business principles. The company assumes
responsibility for the implementation of laws and . Ensures that all issues are clarified with regard to violation of
the law, regulations, company principles and ethical standards.

Ülker’s business culture includes acting in a customer-focused manner. Ülker Biscuits believes that the loyalty
of its customers is due to the company’s determination to meet its customers’ needs, the high-quality goods and
services it provides and adherence to its principles.
II. Social Awareness:

Ülker Biscuits feels that it has a responsibility to be socially aware and obligation to get involved in activities
that improve the quality of society.

Ülker Biscuits contributes voluntarily to create ways to better society and the environment.

Ülker Biscuits encourages its employees to attend social activities that increase their awareness of social issues.

Ülker Biscuits strives to improve the well-being of children, elderly people, women and the disabled. The
Company emphasizes its sensitivity to social issues by supporting projects to improve them.
III. Positive Business Relations, Impartiality and Equal Opportunity:

Ülker Biscuits, attaches importance to respectful behavior toward its
employees/customers/suppliers/partners/shareholders and society. It treats all individuals with respect.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits nominates and chooses its representatives, lawyers, mediators and consultants on the basis of their
honesty, truthfulness, impartiality and respect for the law.

Ülker Biscuits avoids relationships, influences and events that may prevent or seem to prevent it from making
impartial and fair decisions during the course of business.

Ülker Bisküvi gives importance to variety among its employees, shows respect to their personal qualifications
and character as well as ensures that all its employees adopt and apply these behaviors.

Ülker Bisküvi considers its employees’ proposals to be an opportunity for the development of the organization
and processes.

Ülker Bisküvi informs suppliers of required terms clearly in purchases and evaluates proposals impartially for its
benefits and as required by the understanding of business ethics.

Ülker Bisküvi respects equality of opportunities in its relations with the Distributor.

Ülker Biscuits obeys all legislation (the law, statue and regulations etc.) and provisions of authorized bodies
IV. Relations with Suppliers and Competitors:
about protecting competition.

Ülker Biscuits does not make any negative statements against its competitors and their managers by giving their
names through the media.

Ülker Biscuits does not communicate and make an agreement with competitor firms for boycotting its customers
or suppliers.

Ülker Biscuits does not communicate and make an agreement with competitor firms for issues like preventing
new competitors, fixing product prices and sharing regions/markets/customers

Ülker Biscuits never tolerates any unethical behavior with respect to access to information about other
companies and prevents its customers from acting in such a manner. However, it does not mind using public
information about companies (web sites, price lists, advertisements, published documents etc.).

Ülker Biscuits does not employ the first order relatives (spouses, siblings, children, parents) of the employees in
critical positions at its competitors.
V. Customer Satisfaction:

Ülker Biscuits corrects product problems that arise from its companies or channels until the delivery of the
product to the customers promptly. The Company is accessible and prevents unfair treatment of customers in this
respect.

Ülker Biscuits tries to carry product quality behind customers’ expectations.

Ülker Biscuits focuses to form a structure that serves with a customer satisfaction oriented global and local
understanding and is consistent with customs and traditions of the society it acts in.
VI. Product and Service Quality:

Ülker Biscuits realizes our target of prompt and healthy development, contributes to the formation of legal
regulations and maintains a full protection of our intellectual and industrial property rights with our corporate
identity and is in full loyalty to national and international legislation.

Ülker Biscuits, conducts its activities according to national quality standards like TSE and international
standards like ISO, OHSES, BRC and IFS as well as maintaining its quality certificates in cooperation with all
its employees.

Food technology all around the world is developing fast and new products and inventions contributing to the
well-being of the mankind are being developed. Ethical approach of Ülker Biscuits is to use these technologies
that contribute to the lives of individuals and support their well-being as the pioneering firm and to develop
products that contribute to these technologies.

Ülker Biscuits does not use in its products the ingredients that are known to be harmful to health and states all
contents of its products clearly on their packaging.

Ülker Biscuits definitely takes care of health and hygiene discipline of its products during the production and
marketing processes.

Ülker Biscuits does not provide products or services that might harm and/or mislead its customers and
consumers.
VII. Employee Rights and Work Security:

Ülker Biscuits ensures that personal rights of its employees are completely/properly given on time.

Ülker Biscuits attaches importance to personal development of its employees in addition to business targets and
the company’s competitive strength and takes steps in this respect.

Ülker Biscuits provides its employees with an efficient and happy working environment which is dominated by
values like honesty, coherence, respect, trust and responsibility and in which each and every employee can
express himself/herself.

Ülker Biscuits encourages its employees to get involved in social activities voluntarily.

Ülker Biscuits takes any measures as well as equipment and procedures necessary for the workers’ health and
security.
VIII. Protection of Shareholders’ Benefits:

In purchase and sale of company shares, Ülker Biscuits ensures loyalty to the law and trustworthiness, regards
the benefits and opinions of its shareholders, respects moral values, does not allow speculations, obeys
restrictions arising from current legislations and acts transparently.

Ülker Biscuits attaches importance to sustainable profitability in its investments and manages its existing
investments efficiently.

Ülker Biscuits designs/conducts its operations according to the law and corporate ethics in order to protect the
company’s reputation and value.
IX. Discrimination and Harassment:

Ülker Biscuits definitely rejects sexual, social and physical harassment and annoyance of any of its employees or
their similar behaviors against others.

Ülker Biscuits definitely rejects subjection of any of its employees to psychological harassment such as
discrimination, exclusion and deterrence and their similar behaviors against others.

Ülker Biscuits remains impartial to all bodies/organizations without making discrimination on the basis of
religion/ language/ race/ gender/ culture/ opinion. It provides a working environment where differences are
tolerated and accepted. Ülker Bisküvi expects its employees to behave so.
X. Fairness of Records:

Ülker Biscuits prepares all records of its companies financial tables properly, completely and in accordance with
related principles and legal rules. It ensures that relations with organizations and people outside the company are
recorded in accordance with all the legislation (the law, statue and regulations etc.) and on time.

Ülker Biscuits employees who attend proposals, tender preparations or contract meetings are responsible for
fairness and correctness of all the information they give to prospective suppliers.
XI. Information Security:

Ülker Biscuits protects patents, business secrets, copyrights and intellectual property like trade names and
trademarks and respects its competitors’ intellectual property rights.

Ülker Biscuits conceals /keeps confidential information (business and personal etc.) of its suppliers, customers,
employees and job applicants.
XII. Informing Government Organization and the Society:

Ülker Biscuits does not make faulty, incorrect or misleading advertisements and incorrect statements in its sale
and marketing activities.

Ülker Biscuits provides the public and its shareholders with correct, clear and on-time information through all its
notifications.

Ülker Biscuits informs the public about any information, development and change that might affect the value of
financial instruments operating in the capital market in accordance with the legislation and within specified time
– periods.

Ülker Biscuits conducts its communication with all government organizations properly, clearly and on – time.
They are those principles for profit companies and their employees give priority to, whether it is outside or within
the company, in their relations with other employees, shareholders, customers, suppliers, government organizations,
competitors and the society as a whole, as well as the responsibilities they assume.
I. Working Culture:

Ülker Biscuits treats its suppliers as work partners,; does not compromise on fairness and honesty and maintains
and fulfills its responsibilities in contractual business relationships.

The principle of “fairness” is integral to Ülker’s business concepts. Relationships that Ülker forms with group
companies, employees, customers, suppliers, partners, shareholders and society are based on openness and
fairness.

Ülker Biscuits fulfills all legal responsibilities law and maintains its business principles. The company assumes
responsibility for the implementation of laws and . Ensures that all issues are clarified with regard to violation of
the law, regulations, company principles and ethical standards.

Ülker’s business culture includes acting in a customer-focused manner. Ülker Biscuits believes that the loyalty
of its customers is due to the company’s determination to meet its customers’ needs, the high-quality goods and
services it provides and adherence to its principles.
II. Social Awareness:

Ülker Biscuits feels that it has a responsibility to be socially aware and obligation to get involved in activities
that improve the quality of society.

Ülker Biscuits contributes voluntarily to create ways to better society and the environment.

Ülker Biscuits encourages its employees to attend social activities that increase their awareness of social issues.

Ülker Biscuits strives to improve the well-being of children, elderly people, women and the disabled. The
Company emphasizes its sensitivity to social issues by supporting projects to improve them.
III. Positive Business Relations, Impartiality and Equal Opportunity:

Ülker Biscuits, attaches importance to respectful behavior toward its
employees/customers/suppliers/partners/shareholders and society. It treats all individuals with respect.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits nominates and chooses its representatives, lawyers, mediators and consultants on the basis of their
honesty, truthfulness, impartiality and respect for the law.

Ülker Biscuits avoids relationships, influences and events that may prevent or seem to prevent it from making
impartial and fair decisions during the course of business.

Ülker Bisküvi gives importance to variety among its employees, shows respect to their personal qualifications
and character as well as ensures that all its employees adopt and apply these behaviors.

Ülker Bisküvi considers its employees’ proposals to be an opportunity for the development of the organization
and processes.

Ülker Bisküvi informs suppliers of required terms clearly in purchases and evaluates proposals impartially for its
benefits and as required by the understanding of business ethics.

Ülker Bisküvi respects equality of opportunities in its relations with the Distributor.

Ülker Biscuits obeys all legislation (the law, statue and regulations etc.) and provisions of authorized bodies
IV. Relations with Suppliers and Competitors:
about protecting competition.

Ülker Biscuits does not make any negative statements against its competitors and their managers by giving their
names through the media.

Ülker Biscuits does not communicate and make an agreement with competitor firms for boycotting its customers
or suppliers.

Ülker Biscuits does not communicate and make an agreement with competitor firms for issues like preventing
new competitors, fixing product prices and sharing regions/markets/customers

Ülker Biscuits never tolerates any unethical behavior with respect to access to information about other
companies and prevents its customers from acting in such a manner. However, it does not mind using public
information about companies (web sites, price lists, advertisements, published documents etc.).

Ülker Biscuits does not employ the first order relatives (spouses, siblings, children, parents) of the employees in
critical positions at its competitors.
V. Customer Satisfaction:

Ülker Biscuits corrects product problems that arise from its companies or channels until the delivery of the
product to the customers promptly. The Company is accessible and prevents unfair treatment of customers in this
respect.

Ülker Biscuits tries to carry product quality behind customers’ expectations.

Ülker Biscuits focuses to form a structure that serves with a customer satisfaction oriented global and local
understanding and is consistent with customs and traditions of the society it acts in.
VI. Product and Service Quality:

Ülker Biscuits realizes our target of prompt and healthy development, contributes to the formation of legal
regulations and maintains a full protection of our intellectual and industrial property rights with our corporate
identity and is in full loyalty to national and international legislation.

Ülker Biscuits, conducts its activities according to national quality standards like TSE and international
standards like ISO, OHSES, BRC and IFS as well as maintaining its quality certificates in cooperation with all
its employees.

Food technology all around the world is developing fast and new products and inventions contributing to the
well-being of the mankind are being developed. Ethical approach of Ülker Biscuits is to use these technologies
that contribute to the lives of individuals and support their well-being as the pioneering firm and to develop
products that contribute to these technologies.

Ülker Biscuits does not use in its products the ingredients that are known to be harmful to health and states all
contents of its products clearly on their packaging.

Ülker Biscuits definitely takes care of health and hygiene discipline of its products during the production and
marketing processes.

Ülker Biscuits does not provide products or services that might harm and/or mislead its customers and
consumers.
VII. Employee Rights and Work Security:

Ülker Biscuits ensures that personal rights of its employees are completely/properly given on time.

Ülker Biscuits attaches importance to personal development of its employees in addition to business targets and
the company’s competitive strength and takes steps in this respect.

Ülker Biscuits provides its employees with an efficient and happy working environment which is dominated by
values like honesty, coherence, respect, trust and responsibility and in which each and every employee can
express himself/herself.

Ülker Biscuits encourages its employees to get involved in social activities voluntarily.

Ülker Biscuits takes any measures as well as equipment and procedures necessary for the workers’ health and
security.
VIII. Protection of Shareholders’ Benefits:

In purchase and sale of company shares, Ülker Biscuits ensures loyalty to the law and trustworthiness, regards
the benefits and opinions of its shareholders, respects moral values, does not allow speculations, obeys
restrictions arising from current legislations and acts transparently.

Ülker Biscuits attaches importance to sustainable profitability in its investments and manages its existing
investments efficiently.

Ülker Biscuits designs/conducts its operations according to the law and corporate ethics in order to protect the
company’s reputation and value.
IX. Discrimination and Harassment:

Ülker Biscuits definitely rejects sexual, social and physical harassment and annoyance of any of its employees or
their similar behaviors against others.

Ülker Biscuits definitely rejects subjection of any of its employees to psychological harassment such as
discrimination, exclusion and deterrence and their similar behaviors against others.

Ülker Biscuits remains impartial to all bodies/organizations without making discrimination on the basis of
religion/ language/ race/ gender/ culture/ opinion. It provides a working environment where differences are
tolerated and accepted. Ülker Bisküvi expects its employees to behave so.
X. Fairness of Records:

Ülker Biscuits prepares all records of its companies financial tables properly, completely and in accordance with
related principles and legal rules. It ensures that relations with organizations and people outside the company are
recorded in accordance with all the legislation (the law, statue and regulations etc.) and on time.

Ülker Biscuits employees who attend proposals, tender preparations or contract meetings are responsible for
fairness and correctness of all the information they give to prospective suppliers.
XI. Information Security:

Ülker Biscuits protects patents, business secrets, copyrights and intellectual property like trade names and
trademarks and respects its competitors’ intellectual property rights.

Ülker Biscuits conceals /keeps confidential information (business and personal etc.) of its suppliers, customers,
employees and job applicants.
XII. Informing Government Organization and the Society:

Ülker Biscuits does not make faulty, incorrect or misleading advertisements and incorrect statements in its sale
and marketing activities.

Ülker Biscuits provides the public and its shareholders with correct, clear and on-time information through all its
notifications.

Ülker Biscuits informs the public about any information, development and change that might affect the value of
financial instruments operating in the capital market in accordance with the legislation and within specified time
– periods.

Ülker Biscuits conducts its communication with all government organizations properly, clearly and on – time.

Ülker Biscuits carries on all its activities / operations, domestic and abroad, according to national and
XIII. Deference to the Law:
international legislation as well as provides proper, complete and on – time information to regulatory
organizations determined by law.

Ülker Biscuits does not get involved in any activities such tax evasion, corruption, bribery, misleading the
government in financial reports etc.

Ülker Biscuits respects to legal rules and social values of each and every country it acts in and is aware of its
social responsibilities.

Ülker Biscuits acts according to all the related legislation (the law, statue and regulations etc.) when purchasing
goods and services from suppliers.
XIV. Receiving and Offering Gifts:

Ülker Biscuits does not offer gifts that goes behind the purpose of gift-giving and might put parties on the spot
(that might overshadow impartiality of the other party / is of high material value) to companies / their employees
it is related to and does not receive such gifts.

Gifts that are delivered to the company without the employee being informed, is communicated to the General
Manager of the company and sent to the Promotion Room, whereby it is distributed to employees by lottery on
the New Year’s Eve.
They are those principles for profit companies and their employees give priority to, whether it is outside or within
the company, in their relations with other employees, shareholders, customers, suppliers, government organizations,
competitors and the society as a whole, as well as the responsibilities they assume.
I. Working Culture:

Ülker Biscuits treats its suppliers as work partners,; does not compromise on fairness and honesty and maintains
and fulfills its responsibilities in contractual business relationships.

The principle of “fairness” is integral to Ülker’s business concepts. Relationships that Ülker forms with group
companies, employees, customers, suppliers, partners, shareholders and society are based on openness and
fairness.

Ülker Biscuits fulfills all legal responsibilities law and maintains its business principles. The company assumes
responsibility for the implementation of laws and . Ensures that all issues are clarified with regard to violation of
the law, regulations, company principles and ethical standards.

Ülker’s business culture includes acting in a customer-focused manner. Ülker Biscuits believes that the loyalty
of its customers is due to the company’s determination to meet its customers’ needs, the high-quality goods and
services it provides and adherence to its principles.
II. Social Awareness:

Ülker Biscuits feels that it has a responsibility to be socially aware and obligation to get involved in activities
that improve the quality of society.

Ülker Biscuits contributes voluntarily to create ways to better society and the environment.

Ülker Biscuits encourages its employees to attend social activities that increase their awareness of social issues.

Ülker Biscuits strives to improve the well-being of children, elderly people, women and the disabled. The
Company emphasizes its sensitivity to social issues by supporting projects to improve them.
III. Positive Business Relations, Impartiality and Equal Opportunity:

Ülker Biscuits, attaches importance to respectful behavior toward its
employees/customers/suppliers/partners/shareholders and society. It treats all individuals with respect.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits maintains its impartiality regarding government agencies and organizations, civil organizations
and political parties, without expecting any preferential treatment.

Ülker Biscuits nominates and chooses its representatives, lawyers, mediators and consultants on the basis of their
honesty, truthfulness, impartiality and respect for the law.

Ülker Biscuits avoids relationships, influences and events that may prevent or seem to prevent it from making
impartial and fair decisions during the course of business.

Ülker Bisküvi gives importance to variety among its employees, shows respect to their personal qualifications
and character as well as ensures that all its employees adopt and apply these behaviors.

Ülker Bisküvi considers its employees’ proposals to be an opportunity for the development of the organization
and processes.

Ülker Bisküvi informs suppliers of required terms clearly in purchases and evaluates proposals impartially for its
benefits and as required by the understanding of business ethics.

Ülker Bisküvi respects equality of opportunities in its relations with the Distributor.

Ülker Biscuits obeys all legislation (the law, statue and regulations etc.) and provisions of authorized bodies
IV. Relations with Suppliers and Competitors:
about protecting competition.

Ülker Biscuits does not make any negative statements against its competitors and their managers by giving their
names through the media.

Ülker Biscuits does not communicate and make an agreement with competitor firms for boycotting its customers
or suppliers.

Ülker Biscuits does not communicate and make an agreement with competitor firms for issues like preventing
new competitors, fixing product prices and sharing regions/markets/customers

Ülker Biscuits never tolerates any unethical behavior with respect to access to information about other
companies and prevents its customers from acting in such a manner. However, it does not mind using public
information about companies (web sites, price lists, advertisements, published documents etc.).

Ülker Biscuits does not employ the first order relatives (spouses, siblings, children, parents) of the employees in
critical positions at its competitors.
V. Customer Satisfaction:

Ülker Biscuits corrects product problems that arise from its companies or channels until the delivery of the
product to the customers promptly. The Company is accessible and prevents unfair treatment of customers in this
respect.

Ülker Biscuits tries to carry product quality behind customers’ expectations.

Ülker Biscuits focuses to form a structure that serves with a customer satisfaction oriented global and local
understanding and is consistent with customs and traditions of the society it acts in.
VI. Product and Service Quality:

Ülker Biscuits realizes our target of prompt and healthy development, contributes to the formation of legal
regulations and maintains a full protection of our intellectual and industrial property rights with our corporate
identity and is in full loyalty to national and international legislation.

Ülker Biscuits, conducts its activities according to national quality standards like TSE and international
standards like ISO, OHSES, BRC and IFS as well as maintaining its quality certificates in cooperation with all
its employees.

Food technology all around the world is developing fast and new products and inventions contributing to the
well-being of the mankind are being developed. Ethical approach of Ülker Biscuits is to use these technologies
that contribute to the lives of individuals and support their well-being as the pioneering firm and to develop
products that contribute to these technologies.

Ülker Biscuits does not use in its products the ingredients that are known to be harmful to health and states all
contents of its products clearly on their packaging.

Ülker Biscuits definitely takes care of health and hygiene discipline of its products during the production and
marketing processes.

Ülker Biscuits does not provide products or services that might harm and/or mislead its customers and
consumers.
VII. Employee Rights and Work Security:

Ülker Biscuits ensures that personal rights of its employees are completely/properly given on time.

Ülker Biscuits attaches importance to personal development of its employees in addition to business targets and
the company’s competitive strength and takes steps in this respect.

Ülker Biscuits provides its employees with an efficient and happy working environment which is dominated by
values like honesty, coherence, respect, trust and responsibility and in which each and every employee can
express himself/herself.

Ülker Biscuits encourages its employees to get involved in social activities voluntarily.

Ülker Biscuits takes any measures as well as equipment and procedures necessary for the workers’ health and
security.
VIII. Protection of Shareholders’ Benefits:

In purchase and sale of company shares, Ülker Biscuits ensures loyalty to the law and trustworthiness, regards
the benefits and opinions of its shareholders, respects moral values, does not allow speculations, obeys
restrictions arising from current legislations and acts transparently.

Ülker Biscuits attaches importance to sustainable profitability in its investments and manages its existing
investments efficiently.

Ülker Biscuits designs/conducts its operations according to the law and corporate ethics in order to protect the
company’s reputation and value.
IX. Discrimination and Harassment:

Ülker Biscuits definitely rejects sexual, social and physical harassment and annoyance of any of its employees or
their similar behaviors against others.

Ülker Biscuits definitely rejects subjection of any of its employees to psychological harassment such as
discrimination, exclusion and deterrence and their similar behaviors against others.

Ülker Biscuits remains impartial to all bodies/organizations without making discrimination on the basis of
religion/ language/ race/ gender/ culture/ opinion. It provides a working environment where differences are
tolerated and accepted. Ülker Bisküvi expects its employees to behave so.
X. Fairness of Records:

Ülker Biscuits prepares all records of its companies financial tables properly, completely and in accordance with
related principles and legal rules. It ensures that relations with organizations and people outside the company are
recorded in accordance with all the legislation (the law, statue and regulations etc.) and on time.

Ülker Biscuits employees who attend proposals, tender preparations or contract meetings are responsible for
fairness and correctness of all the information they give to prospective suppliers.
XI. Information Security:

Ülker Biscuits protects patents, business secrets, copyrights and intellectual property like trade names and
trademarks and respects its competitors’ intellectual property rights.

Ülker Biscuits conceals /keeps confidential information (business and personal etc.) of its suppliers, customers,
employees and job applicants.
XII. Informing Government Organization and the Society:

Ülker Biscuits does not make faulty, incorrect or misleading advertisements and incorrect statements in its sale
and marketing activities.

Ülker Biscuits provides the public and its shareholders with correct, clear and on-time information through all its
notifications.

Ülker Biscuits informs the public about any information, development and change that might affect the value of
financial instruments operating in the capital market in accordance with the legislation and within specified time
– periods.

Ülker Biscuits conducts its communication with all government organizations properly, clearly and on – time.

Ülker Biscuits carries on all its activities / operations, domestic and abroad, according to national and
XIII. Deference to the Law:
international legislation as well as provides proper, complete and on – time information to regulatory
organizations determined by law.

Ülker Biscuits does not get involved in any activities such tax evasion, corruption, bribery, misleading the
government in financial reports etc.

Ülker Biscuits respects to legal rules and social values of each and every country it acts in and is aware of its
social responsibilities.

Ülker Biscuits acts according to all the related legislation (the law, statue and regulations etc.) when purchasing
goods and services from suppliers.
XIV. Receiving and Offering Gifts:

Ülker Biscuits does not offer gifts that goes behind the purpose of gift-giving and might put parties on the spot
(that might overshadow impartiality of the other party / is of high material value) to companies / their employees
it is related to and does not receive such gifts.

Gifts that are delivered to the company without the employee being informed, is communicated to the General
Manager of the company and sent to the Promotion Room, whereby it is distributed to employees by lottery on
the New Year’s Eve.
XV. Environment:

Ülker Biscuits tries its best to protect the environment in both its own business and those of its suppliers and
work partners.

Ülker Biscuits uses natural and energy resources efficiently and prevents their waste.

Ülker Biscuits keeps waste and any pollution that arises as a result of production activities under control and acts
according to the standards and legislation (such as ISO) related to this.

Ülker Biscuits searches for recycling and reusage opportunities and benefits from them in its enterprises.

Ülker Biscuits carries on several activities to build environmental consciousness for its employees.

Ülker Biscuits cannot carry on activities that are to prevent revealance of immoral activities of its companies and
XVI. Responsibility for Notifying Immoral Situations:
other people (corporate and real). It cannot cover up any corruption.
These principles are applied to any communications with media, including internet and e-mail, that takes place in
and outside the Company. It is ensured that employees believe in and adopt these rules morally. It is monitored
whether these rules are followed. In case that an incongruity is discovered, the Board of Discipline is acts in charge.