Operator

Ladies and gentlemen, thank you for standing by. I'm Costantino, your Chorus Call operator. Welcome, and thank you for joining the Türk Telekom conference call and live webcast to present and discuss the first quarter 2026 financial and operational results. [Operator Instructions]. The conference is being recorded. [Operator Instructions]. We are here with the management team, and today's speaker is Omer Karademir, CFO. Before starting, I kindly remind you to review the disclaimer on the earnings presentation. Now I would like to turn the conference over to Mr. Omer Karademir, CFO. Sir, you may now proceed.

Omer Karademir

Hello, everyone. Welcome to our 2026 First Quarter Results Conference Call. Thank you for joining us today. Let's go to Slide #3. I will start with a quick update on markets and our leading position. Global markets in Q1 '26 were shipped by rising geopolitical tensions and the feds cautious staff. The Fed kept its guidance that further easing will be approached carefully, pending a sustained improvement in inflation. Regional tension in the Gulf and geopolitical developments triggered a spike in energy prices and volatility in global risk appetite.

In Turkey, the Central Bank cut its post rate by 100 basis points in January, but kept it on hold in March and April in response to heightened global uncertainties and risk to the inflation outlook. Year-end inflation expectation in the April 2026 market participant survey stood at 27.56%. Aim at this environment as Türk Telekom Group, we remain focused on sustaining our strong operation and financial performance through our disciplined and proactive approach.