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Hepsiburada, a leading Turkish e-commerce platform, reported its Q4 and full-year 2024 financial results. The company's GMV increased by 12.1% to TRY 188.6 billion for the full year, while revenue grew 11.1% to TRY 57,046.6 million.

Key highlights include a 16.2% increase in orders to 131.4 million, and Active Customers growth of 2.0% to 12.2 million. The company's EBITDA showed significant improvement, increasing by 218.4% to TRY 2,065.1 million. Marketplace GMV share expanded to 69.8% from 66.9% in 2023.

Notable operational achievements include HepsiJet delivering 72% of total parcels and the Hepsiburada Premium membership reaching 3.7 million members. However, the company faced challenges in early 2025 due to macroeconomic headwinds and shopping boycotts. A significant milestone was reached with Kaspi acquiring a 65.4% controlling stake in Hepsiburada from the founder and Doğan Family.

Hepsiburada, a leading Turkish e-commerce platform listed on NASDAQ under the symbol HEPS, has filed its annual report on Form 20-F for the fiscal year 2024. The filing was submitted to the Securities and Exchange Commission on April 30, 2025.

Investors and stakeholders can access the annual report through multiple channels:

• Hepsiburada's investor relations website (https://investors.hepsiburada.com/en/financials/sec-filings)
• SEC's website (http://www.sec.gov)

The company offers shareholders and ADS holders the option to receive a free hard copy of the annual report, which includes audited consolidated financial statements. Requests can be made directly to the Investor Relations Department at ir@hepsiburada.com.

Hepsiburada (NASDAQ: HEPS), a leading Turkish e-commerce platform, has scheduled the release of its fourth quarter and full year 2024 financial results for April 30, 2025, before the U.S. market opens.

The company's management will host an analyst and investor conference call and webcast to discuss the results at 16:00 Istanbul / 14:00 London / 9:00 a.m. New York time on the same day. The presentation materials will be available on the company's investor relations website.

Hepsiburada (NASDAQ: HEPS) announced that its subsidiary Hepsifinans has completed its third bond issuance worth TRY 100 million to domestic qualified investors on March 4, 2025. This issuance is part of the previously approved aggregate bond/bill issuance program of up to TRY 1.05 billion by the Capital Markets Board.

The bonds feature a six-month maturity with an interest rate of 43.00% per annum, with both principal and coupon payments due at maturity. The funds raised will be utilized to support the sustainable growth of Hepsifinans's consumer finance business.

Hepsiburada (NASDAQ: HEPS) has announced the results of its two-year 'Trade and Technology Empowerment for the Earthquake Region' program, which ran from March 2023 to March 2025. The program achieved significant milestones in supporting businesses affected by the earthquake:

Key achievements include:

• Approximately 10,400 active merchants in the earthquake region, including over 6,500 new businesses
• 13.5 million products sold through 9.1 million orders
• Total trade volume exceeding TRY 9.6 billion
• More than 4,100 women entrepreneurs generated approximately TRY 840 million in trade volume
• Around 5,000 SMEs and tradespeople received training at E-Commerce Specialization Centers in Adana, Hatay, and Kahramanmaraş

Hepsiburada (NASDAQ: HEPS) has announced its fourth issuance of asset-backed securities amounting to TRY 500 million, which settled on March 12, 2025. The issuance is part of a TRY 2 billion limit approved by the Capital Markets Board through Pasha Yatırım Bank Hepsiburada Varlık Finansmanı Fonu.

The issue is structured in five tranches with an average maturity of 70 days and an annual average interest rate of 42.75%. The company plans to use the funds to grow its Buy Now Pay Later (BNPL) business and reduce working capital impact.

This follows three previous issuances: TRY 150 million in June 2024, TRY 350 million in September 2024, and TRY 450 million in December 2024.

Hepsiburada (NASDAQ: HEPS) held an Extraordinary General Assembly Meeting (EGM) on January 31, 2025, resulting in significant corporate governance changes. Shareholders approved the election of nine Board members, reducing the total from eleven, with a two-year term until January 31, 2027. Mikheil Lomtadze was appointed as Chairman and Yuri Didenko as Vice Chairman.

The EGM approved amendments to the Company's Articles of Association, notably terminating Class A share privileges following their transfer to Kaspi. This included removing share class distinctions and associated voting privileges. The Board also restructured its committees, forming the Audit Committee, Early Detection of Risk Committee, and Corporate Governance Committee. Additionally, Güneş Akman Özcan was appointed as General Counsel and Corporate Secretary, effective January 1, 2025.

Hepsiburada (NASDAQ: HEPS) has announced the closing of a significant ownership change transaction on January 29, 2025. Joint Stock Company Kaspi.kz has acquired a controlling 65.41% stake in Hepsiburada from the company's founder and other affiliates for approximately $1.127 billion.

The transaction structure includes an immediate $600 million cash payment and a deferred payment of $526.9 million to be completed within six months of closing. As collateral for the deferred payment, Kaspi.kz has pledged 65,199,658 Class B shares of Hepsiburada. The deal transfers all outstanding Class A and Class B shares held by the selling group, making Kaspi.kz the new controlling shareholder of Hepsiburada.