Disclosures

Board Of Directors Decision About Establishing an Issuance Program for Covered Bonds and Authorization of Head Office for Necessary Operations

Board Of Directors Decision About Establishing an Issuance Program for Covered Bonds and Authorization of Head Office for Necessary Operations

With regard to the domestic Mortgage-Covered Bond ("MCB”) issuance by the Bank pursuant to Capital Markets Law No. 6362, published on the Official Gazette dated December 30, 2012 and numbered 28513, and the Communique on Covered Bonds (III-59.1) published on the Official Gazette dated January 21, 2014 and numbered 28889, and the regulations to supersede the foregoing in the future, and any other relevant regulations; our board of directors approved, to establish an issuance program that will, contractually enable the issuance of MCBs maximum up to TRY 10 billion in different series and maturities in one or more issuances, determining and authorizing the relevant institutions, including the regulatory bank, legal consultancy, rating agency and the collateral responsible, if any, during the issuance process, determining and approving the workflows for keeping the collateral book, and establishing a cover pool, and approved authorisations regarding the necessary processes and applications.

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

Board Of Directors Decision About Establishing an Issuance Program for Covered Bonds and Authorization of Head Office for Necessary Operations