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REPUBLIC OF TURKEY PRIME MINISTRY UNDERSECRETARIAT OF TREASURY April 29, 2016 PRESS RELEASE As announced on April 28, 2016, Treasury had mandated BNP Paribas, Goldman Sachs and JP Morgan for reopening of its Dollar denominated notes due February 17, 2045. The transaction was finalized with a nominal amount of USD 1.5 billion. The proceeds of the issue will be transferred to the Treasury accounts on May 4, 2016. The bond has a coupon rate of 6.625% and a yield to investor of 5.400%. The offering attracted an orderbook of approximately 3 times the actual issue size from more than 150 accounts. 40% of the bonds have been sold to investors in the US, 32% in the UK, 11% in other Europe, 9% in other regions and 8% in Turkey. With this transaction, the amount of funds that have been raised from the international capital markets as part of the up to USD 4.5 billion worth of 2016 Eurobond issuance program has reached USD 3 billion. International Bond Issuances in 2016 Issue Date Currency Size Maturity Date Coupon Rate (%) Price (%) Yield to Investor (%) Yield to Investor (Spread) 09.03.2016 USD 1.5 billion 09.10.2026 4.875 98.977 5.00 UST + 316.3 bps 04.05.2016 USD 1.5 billion 17.02.2045 6.625 117.781 5.40 UST + 271.7 bps Disclaimer: These materials are not an offer for sale of securities in the United States. Securities may not be sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Republic of Turkey or the Underwriters and that will contain detailed information about the Republic of Turkey, including financial information. The Republic of Turkey has registered this offering in United States. PRESS AND PUBLIC RELATIONS ADVISORY Tel: (+90) 312 - 204 74 51 - (+90) 312 - 204 70 74 Fax: (+90) 312 - 204 74 53 E-mail: [email protected] Address: İnönü Blv. No: 36 06510 Emek/ANKARA/TURKEY