DOĞTAŞ KELEBEK MOBİLYA SANAYİ VE TİCARET ANONİM ŞİRKETİ MINUTES OF THE ORDINARY GENERAL ASSEMBLY MEETING DATED MAY 7, 2018

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1 DOĞTAŞ KELEBEK MOBİLYA SANAYİ VE TİCARET ANONİM ŞİRKETİ MINUTES OF THE ORDINARY GENERAL ASSEMBLY MEETING DATED MAY 7, 2018 The 2018 Ordinary General Assembly of Doğtaş Kelebek Mobilya Sanayi ve Ticaret Anonim Şirketi (Company) was held at İdealtepe Mahallesi, Rıfkı Tongsir Caddesi No:107, Maltepe, İstanbul, at 10:30 a.m. on May 7, 2018, under the supervision of the Ministerial Representative Feyyaz Bal who was commissioned by the letter No dated May 4, 2018, of Istanbul General Directorate of Customs and Trade. The invitation to the General Assembly was announced on the Turkish Commercial Registry Gazette No dated April 13, 2018, on the corporate website on the Public Disclosure Platform, and the Electronic General Assembly System within the designated legal period in accordance with the Turkish Commercial Code, Capital Market Law, the Company's articles of association, and the provisions of the relevant legislation. It was established upon examination of the list of attendees that out of 20,906,976,700 (twenty billion nine hundred six million nine hundred seventy-six thousand and seven hundred) shares corresponding to the Company's capital of 209,069,767 (two hundred nine million sixty-nine thousand seven hundred and sixty seven) Turkish lira, 3,209,497,900 shares were represented principally, and 10,277,577,100 shares were represented by proxy at the meeting. As per Article 1527 of the Turkish Commercial Code and the relevant legislation, it was found that preparations for the Electronic General Assembly were carried out in compliance with the legislation. Since it was acknowledged that the minimum quorum for the meeting as defined in the legislation and the Articles of Incorporation had been met, Chairman Davut Doğan and Bora Mutlu, representative of the Independent Audit company, stated that they were present in the meeting, the meeting started in physical and electronic form simultaneously and a discussion of the agenda items commenced. 1. It was unanimously resolved by physical and electronic votes of the attendees that Kürşad Duman be elected the Moderator of the Meeting, Serhat Köseoğlu be elected the Vote Collector, Murat Durmaz be elected the Keeper of the Meeting Minutes, Aysun Vardan be commissioned as a specialist to conduct the technical operations for the Electronic General Assembly System, and that the Moderator of the Meeting be authorized to sign the General Assembly minutes. 2. The Moderator Kürşad Duman stated that the Board of Directors Annual Report for 2017 was submitted for the review of the Company's shareholders on the corporate website on and on the Electronic General Assembly System, and requested the Annual Report to be considered to have been read. No one took the floor and the Annual Reports were considered to have been read. No one took the floor. 3. It was noted that the Audit Report for the 2017 fiscal year and the Independent Audit Report by the Independent Audit Company were submitted for the review of the Company's shareholders on the corporate website on and on the Electronic General Assembly System, and thus it was requested them to be considered to have been read. By unanimous physical and electronic vote, they were accepted as such. The matter was submitted for discussion; however, no one took the floor. 4. It was noted that the financial statements for the fiscal year between January 1, 2017 and December 31, 2017 were submitted for the review of the Company's shareholders on the corporate website on and on the Public Disclosure Platform through the Electronic General Assembly System, and thus they were requested to be considered to have been

2 read. No one took the floor on the matter. The financial statements were accepted to have been read by unanimous electronic and physical votes with affirmative votes, which correspond to 123,373,991 Turkish lira of capital, against the negative votes, which correspond to 11,496,759 Turkish lira of capital. No one took the floor about the financial statements. The 2017 financial statements (the Balance Sheet and the Profit and Loss Table) were accepted to have been read by unanimous electronic and physical votes of those present with the affirmative votes, which correspond to 123,373,991 Turkish lira of capital, against the negative votes, which correspond to 11,496,759 Turkish lira of capital. 5. The shareholders were informed about the precautions to be taken for the qualified Independent Audit Report, pursuant to Article 403 of the Turkish Commercial Code. Since this item of the agenda was for informational purposes only, the Company's Shareholders were advised that it would not be voted on. No one took the floor. 6. The General Assembly proceeded to discuss the discharge of the Board members from liability due to the operations and activities in By unanimous electronic and physical votes of those present, the Board members were discharged of liability with the affirmative votes, which correspond to 93,974,585 of capital, against the negative votes, which correspond to 8,801,188 of capital. 7. Discussions proceeded for approval of the following appointments: Şadan Doğan; appointed on May 9, 2017, with the Board resolution No. 82/19 to fill the position vacated upon resignation of İsmail Doğan, who was appointed as Board Member at the Ordinary General Assembly dated April 14, 2015, Bekir Özkan Hakan Yavaşal; appointed on November 15, 2017 with the Board resolution No. 82/32 to fill the position vacated upon resignation of Ahmet Cüneyt Yavuz, who was appointed as Independent Board Member at the Ordinary General Assembly dated April 14, 2015, Hüseyin Doğan Türkmen; appointed on December 8, 2017, with the Board resolution No. 82/34 to fill the position vacated upon resignation of Arif Kerem Onursal, who was appointed as Board Member at the Ordinary General Assembly dated April 14, 2015, Mert Güvenen; appointed on December 8, 2017, with the Board resolution No. 82/35 to fill the position vacated upon resignation of Eray Yatgın, who was appointed as Board Member at the Ordinary General Assembly dated April 14, 2015, Hayrettin Kaplan; appointed on December 8, 2017, with the Board resolution No. 82/36 to fill the position vacated upon new appointment of Mert Güvenen, who was appointed as Independent Board Member at the Ordinary General Assembly dated July 1, 2016, Following the voting, board member appointments were approved by unanimous electronic and physical votes of those present. 8. The General Assembly proceeded to discussing the item of election of the board members and designation of their terms of office. The Moderator took the floor, announced Board Member candidates and provided information about the biographies of the independent board members. By unanimous electronic and physical votes of those present with affirmative votes, which correspond to 129,543,989 Turkish lira of capital, against the negative votes, which correspond to 5,326,761 Turkish lira of capital, it was resolved to elect the following to serve for a term of three years:

3 - Davut Doğan with ID No Şadan Doğan with ID No Hüseyin Doğan Türkmen with ID No Mert Güvenen with ID No Hayrettin Kaplan with ID No Bekir Özkan Hakan Yavaşal with ID No Attached to the minutes is the print out of the dissenting opinion by the shareholder Osman Can Gençyürek who participated in the voting electronically. Chairman Davut Doğan took the floor with dissenting opinion and stated the female member issue could be discussed at the next general assembly. The General Assembly proceeded to designate the remunerations of the Board Members. By unanimous electronic and physical votes of those present with affirmative votes, which correspond to 129,543,989 Turkish lira of capital, against the negative votes, which correspond to 5,326,761 Turkish lira of capital, it was resolved to pay a remuneration to the board members as follows: 15,000 Turkish lira to board members Davut Doğan, Şadan Doğan and Mert Güvenen, 7,500 Turkish lira to independent board members Hayrettin Kaplan and Bekir Özkan Hakan Yavaşal. 9. Discussions proceeded about the proposal made by the Board of Directors on the distribution of the dividends of 2017 and on the attached dividend distribution. According to the financial statements prepared by the Company's Board of Directors and audited by PWC Bağımsız Denetim ve Serbest Mali Müşavirlik Anonim Şirketi, the Company incurred a net period profit of 15,256,414 Turkish lira during the January 1, 2017-December 31, 2017 fiscal year. The Board of Directors' proposal to offset to the previous years' losses, the profits in the consolidated financial statements of the relevant accounting periods prepared in compliance with the Turkish Accounting Standards (TAS) that were put into effect by the Public Oversight and Accounting Standards Board ("KGK") in accordance with the Tax Procedure Law and the Communique on International Financial Reporting Principles ("Communique") was unanimously approved by the electronic and physical votes of those present. 10. In accordance with the need that arose regarding the Company s area of operation, discussions proceeded on the amendment of article 6 of the Company s Articles of Association in compliance with the amendment text that was approved as per the letter No E.1471 dated February 8, 2018 by the Capital Markets Board, Partnership Financing Department and the letter No dated March 1, 2018 by the Ministry of Customs and Trade, General Directorate of Domestic Trade with regard to the amendment of article 6 titled Company Capital of the Articles of Association. No one took the floor. By unanimous electronic and physical votes of those present with affirmative votes, which correspond to 126,069,562 Turkish lira of capital, against the negative votes, which correspond to 8,801,188 Turkish lira of capital, it was resolved to amend article 6 of the Company's Articles of Association in accordance with the attached amendment text. 11. The shareholders were informed about the payments made under the Company's Remuneration Policy to the Board Members and executives pursuant to the Communique on Determination and Implementation of the Corporate Management Principles and the Capital Market legislation. Since this item of the agenda was for informational purposes only, the Company's Shareholders were advised that it would not be voted on. No one took the floor.

4 12. The General Assembly proceeded to discuss the matter of submission to the General Assembly for approval of the independent audit company commissioned by the Board of Directors to conduct the independent audit for 2018 as advised by the Audit Committee in accordance with the Communique on Independent Audit in the Capital Market. By unanimous electronic and physical votes of those present with affirmative votes, which correspond to 120,742,802 Turkish lira of capital, against the negative votes, which correspond to 14,127,948 Turkish lira of capital, it was resolved to approve KPMG Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. to perform independent audit of the Company for The General Assembly was informed under the Principle no of the Communique No. II-17.1 issued by the Capital Markets Board. Since this item of the agenda was for informational purposes only, the Company's Shareholders were advised that it would not be voted on. No one took the floor. 14. The General Assembly was informed about the guarantees, securities, and liens issued in favor of third parties in 2017, in accordance with the Capital Markets Board regulations. Since this item of the agenda was for informational purposes only, the Company's Shareholders were advised that it would not be voted on. No one took the floor. 15. The General Assembly was informed about the donations and grants made by the Company in The Company donated 22,446 Turkish lira in 2017 as follows: - Donations for Volunteering and Charity: 9,246 Turkish lira - Sports Activities: 13,000 Turkish lira The donation cap for 2017 was not exceeded. The proposal of the Company's Chairman Davut Doğan to set the company's donation cap for 2018 as 200,000 Turkish lira was submitted to the General Assembly for approval. By unanimous electronic and physical votes of those present with affirmative votes, which correspond to 118,474,950 Turkish lira of capital, against the negative votes, which correspond to 16,395,800 Turkish lira of capital, it was resolved to set donation cap as 200,000 Turkish lira for Discussions proceed to decide whether to bill the present Board members for the administrative fine of 186,01 Turkish lira imposed by the CMB on the Company as per the resolution No. 38/1307 dated October 20, By unanimous electronic and physical votes of those present with affirmative votes, which correspond to 110,022,059 Turkish lira of capital, against the negative votes, which correspond to 8,801,188 Turkish lira of capital, it was resolved to not bill the present Board members for the administrative fine imposed by the CMB. 17. The General Assembly proceeded to discuss the matter of granting the permission necessary for the Company's Board of Directors to perform the actions specified in the Articles 395 and 396 of the Turkish Commercial Code. By unanimous electronic and physical votes of those present with affirmative votes, which correspond to 126,069,562 Turkish lira of capital, against the negative votes, which correspond to 8,801,188 Turkish lira of capital, it was resolved to give the Board member the necessary authorization. 18. Shareholder Hamza İnan took the floor on the wishes and requests. He thanked the Board members for their accomplishments and wished them continued success. No one else took the floor. The meeting was concluded by the chairman.

5 CHAIRMAN OF THE MEETING KÜRŞAD DUMAN MINISTERIAL REPRESENTATIVE FEYYAZ BAL MEETING SECRETAR MURAT DURMAZ VOTE COLLECTOR SERHAT KÖSEOĞLU