The “Kempinski Residences Astoria” are developed, marketed and sold by Astaş Gayrimenkul Yatırım ve Turizm A.Ş., a company independent from Kempinski Hotels S.A., and the “Kempinski” name is used by the developers under a license from
Kempinski Hotels S.A. The role of Kempinski Hotels S.A. is limited to the management of the Hotels and the common
areas of the residential building.