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ˆ200FX=zBl4BNnjlHEŠ 200FX=zBl4BNnjlHE GB-COP-D0005 TURKCELL 20-F Donnelley Financial12.1.14 LSWcorng0ln 20-Mar-2017 11:53 EST 349357 FS 1 8* FORM 20-F START PAGE LON CLN PS PMT 1C As filed with the Securities and Exchange Commission on March 20, 2017 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ‘ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR È ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2016 OR ‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ‘ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report Commission File Number: 1-15092 TURKCELL ILETISIM HIZMETLERI A.S. (Exact Name of Registrant as Specified in Its Charter) TURKCELL (Translation of Registrant’s Name into English) Republic of Turkey (Jurisdiction of Incorporation or Organization) Turkcell Kucukyali Plaza Aydinevler Mahallesi Inonu Caddesi No:20 Kucukyali Ofispark B Blok Maltepe Istanbul, Turkey (Address of Principal Executive Offices) Mr. Zeynel Korhan Bilek Telephone: +90 212 313 8150 Facsimile: +90 216 504 4058 Turkcell Kucukyali Plaza Aydinevler Mahallesi Inonu Caddesi No:20 Kucukyali Ofispark B Blok Maltepe Istanbul, Turkey (Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact Person) Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered American Depositary Shares New York Stock Exchange Ordinary Shares, Nominal Value TRY 1.000* New York Stock Exchange * Not for trading on the NYSE, but only in connection with the registration of ADSs representing such ordinary shares pursuant to the requirements of the Securities and Exchange Commission. Securities registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report. Ordinary Shares, Nominal Value TRY 1.000 2,200,000,000 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes È No ‘ If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Yes ‘ No È Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes È No ‘ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ‘ No ‘ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one): Large Accelerated Filer È Accelerated Filer ‘ Non-Accelerated Filer ‘ Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: U.S. GAAP ‘ International Financial Reporting Standards as issued Other ‘ by the International Accounting Standards Board È If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. Item 17 ‘ Item 18 ‘ If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ‘ No È ˆ200FX=zBl4HQ#koHOŠ 200FX=zBl4HQ#koHO VDI-W7-PR3-0401 TURKCELL 20-F Donnelley Financial12.1.14 LSWbeagp0ln 20-Mar-2017 15:10 EST 349357 TOC 1 14* FORM 20-F START PAGE LON CLN PS PMT 1C TABLE OF CONTENTS ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS ........... 4 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE ............................ 4 ITEM 3. KEY INFORMATION ........................................................ 4 3.A SELECTED FINANCIAL DATA ................................................. 4 3.B CAPITALIZATION AND INDEBTEDNESS .......................................... 9 3.C REASONS FOR THE OFFER AND USE OF PROCEEDS ................................ 9 3.D RISK FACTORS ............................................................ 9 ITEM 4. INFORMATION ON THE COMPANY .......................................... 24 4.A HISTORY AND DEVELOPMENT OF THE COMPANY ................................. 24 4.B BUSINESS OVERVIEW ....................................................... 25 4.C ORGANIZATIONAL STRUCTURE ............................................... 76 4.D PROPERTY,PLANT AND EQUIPMENT ........................................... 76 ITEM 4A. UNRESOLVED STAFF COMMENTS ........................................... 78 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS ..................... 78 5.A OPERATING RESULTS ....................................................... 81 5.B LIQUIDITY AND CAPITAL RESOURCES .......................................... 95 5.C RESEARCH AND DEVELOPMENT,PATENTS AND LICENSES, ETC....................... 98 5.D TREND INFORMATION ....................................................... 98 5.E OFF-BALANCE SHEET ARRANGEMENTS ......................................... 100 5.F TABULAR DISCLOSURE OF CONTRACTUAL OBLIGATIONS ........................... 101 5.G SAFE HARBOR ............................................................. 101 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES ...................... 101 6.A DIRECTORS AND SENIOR MANAGEMENT ........................................ 101 6.B COMPENSATION ........................................................... 106 6.C BOARD PRACTICES ......................................................... 106 6.D EMPLOYEES .............................................................. 109 6.E SHARE OWNERSHIP ......................................................... 110 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS ............. 110 7.A MAJOR SHAREHOLDERS ..................................................... 110 7.B RELATED PARTY TRANSACTIONS .............................................. 111 7.C INTERESTS OF EXPERTS AND COUNSEL ......................................... 111 ITEM 8. FINANCIAL INFORMATION ................................................. 111 8.A CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION ................. 111 8.B SIGNIFICANT CHANGES ...................................................... 113 ITEM 9. THE OFFER AND LISTING ................................................... 113 9.A OFFER AND LISTING DETAILS ................................................ 113 9.B PLAN OF DISTRIBUTION ..................................................... 114 9.C MARKETS ................................................................ 114 9.D SELLING SHAREHOLDERS .................................................... 114 9.E DILUTION ................................................................ 114 9.F EXPENSESOFTHEISSUE ..................................................... 114 ITEM 10. ADDITIONAL INFORMATION ............................................... 115 10.A SHARE CAPITAL .......................................................... 115 10.B MEMORANDUM AND ARTICLES OF ASSOCIATION ................................ 115 10.C MATERIAL CONTRACTS .................................................... 126 10.D EXCHANGE CONTROLS ..................................................... 126 10.E TAXATION ............................................................... 127 10.F DIVIDENDS AND PAYING AGENTS ............................................. 132 10.G STATEMENT BY EXPERTS ................................................... 132 10.H DOCUMENTS ON DISPLAY .................................................. 133 10.I SUBSIDIARY INFORMATION .................................................. 133 ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK ... 133 ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES ........... 136 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES ................. 137 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS ......................................................... 137 ITEM 15. CONTROLS AND PROCEDURES ............................................. 137 ITEM 16. 139 16.A AUDIT COMMITTEE FINANCIAL EXPERT ....................................... 139 16.B CODE OF ETHICS .......................................................... 139 ˆ200FX=zBl4HQ%$FH)Š 200FX=zBl4HQ%$FH) VDI-W7-PR3-0401 TURKCELL 20-F Donnelley Financial12.1.14 LSWbeagp0ln20-Mar-2017 15:10 EST 349357 TOC 2 14* FORM 20-F LON CLN PS PMT 1C 16.C PRINCIPAL ACCOUNTANT FEES AND SERVICES .................................. 139 16.D EXEMPTIONS FROM THE LISTING STANDARDS

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