BMU – Bulls Portföy Absolute
Return Equity Hedge Fund

All information, comments, and evaluations contained in this bulletin have been prepared by BULLS Portfolio Management solely for the purpose of informing investors, without obtaining any financial benefit in return. These contents are in no way directive and should not be considered as investment advisory services by investors, nor should they be taken as a basis for investment decisions.

All information, assessments, comments, and statistical figures and values included in this report have been compiled as of the date of preparation, based on current market conditions and sources believed to be reliable. The opinions, information, and data presented in this report aim to assist investors in making their own investment decisions and do not constitute an offer or commitment to buy or sell any security.

No connection may be established between the investment decisions made by investors and the opinions, information, and data presented in this report. BULLS Portfolio Management and its employees shall not bear any responsibility for any direct and/or indirect damages that may arise from the use of the information, assessments, comments, and statistical figures included herein. The comments and recommendations contained in this report are based on the personal opinions of those who provide them and may not be suitable for your financial situation or your risk and return preferences. Therefore, investment decisions made solely based on the information contained herein may not yield results that meet your expectations.

Past performance of the funds is not indicative of future performance.

The prospectuses, internal regulations, and performance presentation reports of the funds can be accessed via the continuous disclosure forms available at www.kap.gov.tr, www.unluportfoy.com.tr, and www.spk.gov.tr.

The benchmark has been determined in accordance with the investable assets specified in the fund’s prospectus and internal regulations.

BULLS Portfolio Management Inc. (“BULLS Portfolio”) is an institution authorized and regulated by the Capital Markets Board of Turkey (CMB). This presentation or report has been prepared for informational purposes only, and the information contained herein must be regarded as strictly confidential. It may not be reproduced, copied, used for purposes other than its intended use, or shared with third parties in whole or in part without the prior written consent of BULLS Portfolio.

The information contained in this presentation does not claim to be complete and may be subject to change. This presentation does not constitute personal investment advice and does not represent an offer or invitation to buy or sell any financial product, service, investment instrument, or security. The investments and strategies mentioned herein may not be suitable for all investors. Investors should conduct their own independent research regarding all matters addressed in this presentation and base their opinions on their own assessments.

The investment information, comments, and recommendations contained herein do not fall within the scope of investment advisory services. Pursuant to CMB regulations, investment advisory services are provided by authorized institutions on a personalized basis, taking into account individuals’ risk and return preferences. The comments and recommendations herein are based on personal opinions and do not constitute a recommendation to buy or sell any investment instrument or a promise of return. These opinions may not be suitable for your financial situation or risk and return preferences. Therefore, making investment decisions solely based on the information contained herein may not produce results that meet your expectations.

You should exercise due care, diligence, and prudence to avoid losses. BULLS Portfolio shall not be held responsible for any losses incurred as a result of transactions carried out based on the opinions contained herein. Any communications, questions, and/or requests regarding this document and/or any contemplated process should be directed to BULLS Portfolio. For further information, please contact:

Bulls Portfolio Management Inc.
Büyükdere Avenue No: 173,

1. Levent Plaza, Block B, Floor 4,
   Levent / Istanbul
   Istanbul / Türkiye
   https://bullsportfoy.com
   Tel: +90 (212) 410 05 00