The acquisition of the shares in Levent Yapilandirma Yönetimi A.S

TO: Investment Community

FROM : Garanti Bank / Investor Relations

SUBJECT: About the acquisition of the shares in Levent Yapılandırma Yönetimi A.Ş.

DATE: December 21, 2018

Subject: Regulatory Public Disclosure Dated 06.07.2018

It had been disclosed on 06.07.2018 that all creditors including our Bank have reached an agreement on restructuring the debts of Ojer Telekomünikasyon A.Ş. (OTAŞ), the major shareholder of Türk Telekomünikasyon A.Ş. (Türk Telekom) provided under the loan agreements. It was contemplated that  192.500.000.000 Class A shares owned by OTAŞ in Türk Telekom, representing 55% of Türk Telekom's issued share capital, which have been pledged as security for the existing loan facilities of OTAŞ, would be taken over by a special purpose vehicle  incorporated or to be incorporated in the Republic of Turkey, owned directly or indirectly by the creditors.

Based on the above it has been decided that our bank will participate to the special purpose vehicle established in Istanbul with a shareholding of 22.1265%.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

We declare that our above statements are in conformity with the principles included in the Board's Communiqué, Serial II Nr.15.1, that it exactly reflects the information we received; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

Garanti Bank

Contact Garanti Bank Investor Relations:

Tel: +90 212 318 2352

Fax: +90 212 216 5902

E-mail: investorrelations@garanti.com.tr

www.garantiinvestorrelations.com