Book your place before 5th September to SAVE £200 enter code DM1 at www.BondsLoansTurkey.com

Turkey’s largest capital markets event

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REASONS TO ATTEND

1 Hear global investors’ analysis of the opportunities in the market from: BlueBay, Barings, Manulife 2 Gain an economist’s assessment of Turkey’s macroeconomic fundamentals: Find out which external factors are likely to impact Turkey over the next 2 years 520+ 3 Discover how issuers are hedging against FX volatility, attendees and what companies are doing with existing hard 95% currency debt Director level 4 Uncover which markets offer borrowers and issuers or above the best options, hear from: Medical Park, Vakıf Emeklilik, ABC, HSBC and Emirates NBD 5 Network with 520+ senior stakeholders from the Turkish Capital Markets: 95% are Director level or above 63% Corporate & Bonds, Loans & Sukuk Turkey is a fantastic event where I can see many financial institutions and colleagues from all over the world. It also FI Issuers and provides a useful market update, covering the latest developments in the Borrowers, Turkish Capital Markets. 70+ Muzaffer Aksoy, Bank ABC Investors and speakers 2 Government Senior Level Speakers include

Semih Ergür, Naz Masraff, Timothy Ash, Murat Ucer, Chief Executive Officer, Director of Europe, Senior EM Sovereign Strategist, Economist, IC Holding Eurasia Group BlueBay Asset Management GlobalSource Partners

Burcu Ozturk, Burcu Geris Richard Segal, Todd Schubert, Chief Financial Officer, Chief Financial Officer, Senior Emerging Markets Strategist, Managing Director and Head of Medical Park Hastaneler Grubu TAV Airport Holdings Manulife Asset Management Fixed Income Research, Bank of Singapore

John Bates, Tevfik Eraslan, Necmettin Kaymaz, Doug Bitcon, EM Corporate Analyst, Senior Vice President General Manager, Chief Projector Director, Head of Credit Strategies, PineBridge Investments Iş Portföy Invest in Turkey Rasmala

3 The event in numbers

Audience breakdown by seniority Audience breakdown by sector 1% 4% Other Government Heads of/ Managing Director 5% Middle East 53%

7% Law Firms CEO/CFO/Deputy 51% 23% Corporate & 12% FI Issuers and Investors Borrowers

Vice President/ Director 20% International 19% Banks

Partner Bonds, Loans & Sukuk Turkey is the best 5% opportunity for the market to get together. It offers a wide overview of the market, both internationally and locally. On top of that the networking opportunities are fantastic. Spencer Maclean, Standard Chartered Bank The event in numbers Companies that attend Bonds, Loans & Sukuk Turkey

24 Gayrimenkul Portfoy Yonetimi Barings Galataport MNG TEB Asset Management ABank Bezen & Partners GAMA Enerji A.Ş Moody’s Investors Service Tekfen Holding Abdul Latif Jameel International Bilkent Holding A.Ş. Garanti Bank MUFG Toprak Mahsulleri Ofisi Acibadem Saglik Hizmetleri (ACIBD) BLG Capital Globalsource Partners Noor Bank TSKB ACT Venture Capital BNP Paribas Gulermak Agir Sanayi Ins Ve Taahhut Nurol Holding A.S. Tupras Actis BNY Mellon Halk Invest and Securities Odeabank Turcas Petrol ACTUS Asset Management Enerji Oxford Economics Turk Telekom Ak Asset Management Borusan Holding Hayat Kimya Sanayi Ozbal Çelik Boru AK Enerji Çakmak-Gökçe Avukatlık Bürosu Hayat Varlık Palmera Capital Limited AK Finansal Kiralama Calik Enerji Hogan Lovells Pasha Bank Turkiye Is Bankasi TAS Calik Holding HSBC Pekin & Bayar Law Firm Turkiye Varlik Fonu Akcansa Cimento Capital Markets Board of Turkey IC Holding PineBridge Investments Turkrating Akfel Gaz San. Ve Tic. A.Ş. CARGILL IC Investment Holding Pol Holding Turkven Private Equity Akfen Holding CCN Holding ICBC TURKEY Privatization Administration of the Tuyap Tum Fuarcilik Yapim Central Bank of Turkey İGA Airport Republic of Turkey U.S. Department of State Aksa Enerji Coca Cola İçecek Ihlas Holding QNB Finansbank Unlu & Company Aksa Power Generation of Qatar Intercity Rasmala Vakif Emeklilik Ve Hayat Aktif Bank International Finance Corporation (IFC) Republic of Turkey Vakif Katilim Alacer Gold Credit Suisse Menkul Değerler Intesa Sanpaolo Ronesans Holding Vakifbank Albaraka Bank Darby Overseas Investments Irish Stock Exchange S&P Global Market Intelligence Viking Albaraka Turk Dataplan Technology Is Asset Management S&P Global Ratings Wells Fargo Allen & Overy IS Bankasi SACE Group White & Case Allianz Doğuş Holding Is Leasing Saudi Binladin Group World Bank Group Anadolu Efes Biracılık Doğuş İnşaat İstanbul Portfolio Management Seker Portfoy WSP Anadolu Group Dome Group Kalyon Construction Industry and Trade Sisecam Yapi Kredi Asset Management Apollo Management Dyo Boya Fab. A.S. Kaptan Demir Celik Smart Solar Yapi Kredi Bank Aselsan Eczacibasi Holding Karaca Züccaciye Ticaret ve Sanayi A.Ş SMBC Nikko Capital Markets Yapi Kredi Leasing Assan Aluminyum Ege Kimya Karadeniz Holding Socar Yapı Kredi Yatırım Astaldi Emirates NBD Kastamonu Entegre Societe Generale Yasar Holding Ata Asset Management Emta Kibar Holding Soyak Holdings Yegin Çiftçi Attorney Partnership Atlas Portfoy Yonetimi Enerjisa Koc Holding Standard Chartered Bank Yildirim Holding AVRASYA GAZ A.Ş. Grubu Kolin Construction, Tourism Industry and STFA Group Yildiz Holding Eren Trading Co. Sumitomo Mitsui Banking Corporation Ziraat Bankası AZ Global Asset Management Esin Attorney Partnership Koray (Yapi and Inşaat) Şirketler (SMBC) Ziraat Katilim Bankasi Azimut European Bank for Reconstruction and Topluluğu Sumitomo Mitsui Banking Corporation Zorlu Holding Baker & Mckenzie Development (EBRD) Kuveyt Turk Europe (SMBCE) Balcioglu Selcuk Akman Keki European Investment Bank (EIB) Limak Holding SunExpress Bank ABC Export Development Canada London Stock Exchange Sur Yapi Bank of Singapore Financial Affairs Mayer Brown Tacirler Portfoy Yonetimi Banking Regulation and Supervision Fitch Ratings Meridiam TAV Airports Holding Agency France Embassy Mizuho Bank TAV Construction

For the full list of participants call Elvan Cosgun on +44 (0)207 045 0935 5 Programme Day One: Tuesday 6th November 2018

08.00 10.50 Registration and coffee Coffee and networking 08.50 11.20 1:25 Chairman’s opening remarks A strategic relationship: Evaluating Chinese investment into Turkey’s economy Spencer Maclean, Managing Director, Head of Capital Markets, Europe and Americas, • Which projects under the ‘One Belt One Road’ initiative will come to market in the next 6-12 months Standard Chartered and how will they be financed? 09.00 • How can contractors and issuers attract Chinese investment? A new beginning: A closer look at the government’s plans to return the economy to growth • To what extent is Chinese investment plugging the gap for project financing across the infrastructure •  Outlining the government’s priorities and strategies for short, medium and long term and energy space in Turkey? • Assessing the success of the Credit Guarantee Fund: analysing the results of the first round, • Understanding the criteria and strategic aims of/to ensure Chinese participation understanding where capital is being deployed and what have been the lessons learnt Necmettin Kaymaz, Chief Projector Director, Invest in Turkey • How will monetary policy post-election look to stabilise the Lira, bring down inflation and regulate 12.05 1:25 interest rates? As rates peak to an 8-year high, what is the outlook for the syndicated loan market over 09.20 the coming 12 months? Politics and Economics: How are they affecting Turkey’s financial markets? •  What are the success criteria for issuing a multi-tranche, multi-currency loan in todays’ climate? How Turkey is entering a new era, and a number of upcoming changes to its political economy will impact its has pricing been impacted in the last 6 months? real economy and its financial markets. This session will bring together economists and analysts to make •  Who are the new players in the market: where are they looking to lend? How do they plan to add predictions about how exactly each of the following will have an impact: value to an already competitive syndicated loan market? • Falling local interest rates vs. rising global interest rates: what are the consequences of a de-coupling? •  As international banks continue to roll-over huge syndications in uncertain times what do local • Weakening TRY, rising inflation, and subsequent monetary policy to address the FX: How will this borrowers need to do to continue this line of credit? translate to the real economy and to the financial markets? •  To what extent are reductions in loan volumes being driven by the borrower side rather than by • Politics: what is the short, medium and long-term impact of a change in political structure? Examples lenders? What does this mean? from around the world that provide an insight into the future Michael Foundethakis, Partner, Baker McKenzie • Global, political or economic volatilities: which are going to have the biggest impact on Turkey and how? John McWall, Group Head of Syndications, Bank ABC • Impact, implications and the future of the Credit Guarantee Fund on the Turkish economy Osman Karakütük, General Manager, Treasury and Internal Operations, Ziraat Katilim • What impact will the current state of the real estate sector have on the real economy? Raouf Jundi, Managing Director, Syndications, Debt Capital Markets, MUFG Securities Naz Masraff, Director of Europe, Eurasia Group Jonathan Macdonald, Head of Loan Capital Markets - Corporate Finance, First Abu Dhabi Bank Timothy Ash, Senior EM Sovereign Strategist, BlueBay Asset Management Murat Ucer, Economist, GlobalSource Partners Philippe Dauba-Pantanacce, Senior Economist, Standard Chartered Habib Rab, Program Leader, Equitable Growth, Finance and Institutions, World Bank Derin Altan, Partner, White & Case 10.05 Where, how and with whom to finance: How are Turkey’s globalising businesses financing expansion? • Politics, global rates, Turkey’s macroeconomic fundamentals: Hype or new reality? How much has the environment for fund raising changed since November 2017? •  Where are Turkey’s global businesses expanding into? What are the target markets and sectors? Are they raising capital for expansion in Turkey or overseas? •  Which Turkish banks are supporting and following globalising businesses? Are Turkish globalising businesses developing new relationships with local banks on-the-ground? What is the role of international banks? •  What is driving Turkish companies to invest and pitch for business abroad? What is the ROI? How much does availability and price of funding per country/region vary, and impact ROI? • Bonds vs. Loans, Hard currency vs. TRY borrowing: Demand and supply factors for each - what options do corporates have? Why are some products more favourable than others? Burcu Geris, Chief Financial Officer,TAV Airport Holdings

6 View the full agenda online at www.BondsLoansTurkey.com Programme Day One: Tuesday 6th November 2018

12.50 15.30 The business case for conventional issuers to debut in the USD Sukuk market: Costs, Analysing the business case for companies to raise equity capital instead of debt disclosure, liquidity, trading performance •  Opening the market for corporates across the spectrum: How have recent legislative changes paved • How have recent FI and sovereign hard currency Sukuk performed in comparison to conventional the way for an equity capital markets revival? issuances in the last 6-12 months? • What is driving demand amongst equity investors locally and globally? Are the drivers sustainable? • Diversifying: Why should corporates consider offshore Sukuk as part of their portfolio? •  Supply-side and corporate finance assessment: Equity vs. debt, local vs. international – is equity • Are the costs and disclosure requirements prohibitive? How can issuance timetables be made more efficient? capital cheaper than debt capital? What are the real costs associated with transactions? • How do issuers develop relationships with investors e.g. non-deal roadshows, reporting and investor relations? •  If TRY rebounds will demand and supply reverse, making debt markets more attractive and bring an • How significant is FX risk for Turkish issuers in a US dollar offering? end to the much-hyped ECM revival? Rizwan H. Kanji, Partner, King & Spalding Adam Farlow, EMEA Head of Capital Markets Practice, Baker McKenzie Doug Bitcon, Head of Credit Strategies, Rasmala Burcu Ozturk, Chief Financial Officer, Medical Park Hastaneler Grubu Ahsan Ali, Head of Islamic Origination,S tandard Chartered Hale Özsoy Biyikli, Director, Turkven Nadia Zubairi, Head of Debt Capital Markets, Bank ABC Hitesh Asarpota, Managing Director, Head of Debt Capital Markets, Emirates NBD 16.15 Coffee and networking 13.35 Networking Lunch sponsored by 16.45 Refinancing/structuring the wall of Turkish corporate debt: Where to turn and how to (re) structure when repayments loom 14.45 •  How much US-denominated debt is up for refinancing in 2019-20? How much will need to be Understanding today’s credit market dynamics: How are investors pricing Turkish credit? refinanced into TRY debt? How much capacity is there in the Eurobond market to absorb upcoming • P olitics, economic underpinnings, market dynamics, credit ratings: how are investors pricing Turkey’s bonds? refinancings? •  What impact are ratings actions having on bond pricing? Why can Turkey price inside its curve in the •  Negotiating terms with lenders and investors: when to start the process and what is the roadmap same week as being downgraded? When and where are investors using ratings in their pricing models? towards successfully refinancing liabilities and drawing out tenors? •  Weakening TRY: how are investors hedging their exposure to Turkey? Is the FX an opportunity for •  When does refinancing turn into restructuring? What impact can the term “restructuring” have on newcomers to the Turkish market? What is the business case for inflation-linked bonds? pricing of the liabilities that are being refinanced? Can restructurings happen without companies •  Pivot towards Asia: what is investor sentiment in Asia for Turkish bonds and sukuk? being associated with default? •  Buy, sell, hold… Where does Turkey fit within the global fund manager’s portfolio today? •  Case studies of refinancings that became restructurings and ended as successful liability management exercises: why issuers should be encouraged to be proactive when facing upcoming Ashwinder Singh Bakhshi, Director, Financial Sector Research, Barings repayments Richard Segal, Senior Emerging Markets Strategist, Manulife Asset Management Güniz Gökçe, Associate Partner, White & Case Alex Griffiths, Senior Director, Fitch Ratings Markus Bayer, Executive Director, Debt Capital Markets, MUFG Securities Todd Schubert, Managing Director and Head of Fixed Income Research, Bank of Singapore Mehmet Yörük, Vice President, Finance and Funds Management, Dogan Holding John Bates, EM Corporate Analyst, Senior Vice President, PineBridge Investments Aslıhan Capanoglu Cellek, Group Treasury Manager, Coca-Cola Içecek Osman Yilamz, Chief Financial Officer, Turkcell Brigitte Posch, Apollo Global Asset Management 17.30 Assessing the opportunities for non-bank FIs and mid-sized corporates in the local capital markets •  What are the products available to non-bank FIs and medium-sized enterprises: securitisation vs bonds vs sukuk, compared to price vs risk vs tenor? •  Competing for liquidity: What are investors looking for? •  Assessing what is required for more institutions to access the local capital markets rather than the loan market: education, pricing, structures? Adem Duman, Executive Vice President, Finance and Marketing, Vakif Emeklilik ve Hayat Tevfik Eraslan, General Manager, Iş Portföy 18.15 Chairman’s closing remarks followed by evening reception Spencer Maclean, Managing Director, Head of Capital Markets, Europe and Americas, Standard Chartered

Register your place online at www.BondsLoansTurkey.com 7 Programme Day Two: Wednesday 7th November

08.30 Registration and coffee 08.50 Chairman’s opening remarks 09.00 Assessing the business case for companies to finance themselves in the TRY sukuk market in today’s financial climate •  First time deals and innovative structures: why the Sukuk market is taking off in Turkey •  Beyond participation banks and frequent corporate sukuk issuers: what is the business case for a company that normally raises capital in conventional format to issue TRY sukuk? •  How much capacity and liquidity does the TRY sukuk have? Are conventional cross-over investors buying sukuk? If so, why? •  What has the formation of new Participation banks had on the level of liquidity in the TRY sukuk market? •  A vision and a roadmap to get there: how big can the TRY sukuk market get? What is the plan to get there? What lessons can be learned from other markets that have successfully developed local sukuk industries (e.g. Malaysia, Indonesia)? Malek Khodr Temsah, Assistant General Manager, Al Baraka Turk Participation Bank İsmail Kemaloğlu, General Director, Toprak Mahsulleri Ofisi 09.45 Banking Turkey: How are banks managing their assets and liabilities, and how are international lenders changing the way they bank Turkey in light of the changing credit environment? •  How are Turkish banks managing their assets and liabilities? How much capacity is there to support customer financing needs in TRY? Under what criteria/conditions can they lend in USD? •  Cost of Turkish banks’ credit lines and funding: what are the cost of funds in TRY/USD/EUR? •  Now there is a limitation on USD/EUR funding, what is the role of international syndicated loan bankers? Who can they lend to? What are their strategies and criteria? •  Turkish risk and refinancing: what has changed in 12 months for companies looking to refinance loans with Turkish and international banks? 11.00 •  ECA, IFI and DFI support: why multi-source funding and a long term corporate finance strategy Funding in USD/EUR and collecting revenues in TRY: Why developers must find is essential for Turkish banks and companies to successfully secure capital from loan and bond alternatives to USD/EUR bank lending to fund Turkey’s infrastructure markets •  Can local banks step-in and plug the funding gap left by USDs and Euros in the project finance 10.30 market? Who are the big local lenders who can lead deals in TRY? •  Tax incentives (eligible for investments in projects): why have they not worked? Coffee and networking •  Caps on USD/EUR funding: under what circumstances will developers continue to finance projects in the offshore markets? •  ECAs, DFIs and IFIs: what are their strategies to lend to projects in Turkey? How can sponsors and developers secure more funding from these lenders? •  TRY Capital markets: how to structure deals in TRY to attract Turkey’s institutional investors to project finance-linked bonds, sukuk and capital markets securities Sule Kilic, Deputy Country Director, Turkey, European Bank for Reconstruction and Development (EBRD) Semih Ergür, Chief Executive Officer, IC Holding Selahattin Bilgen, Chief Financial Officer, IGA Airport

8 View the full agenda online at www.BondsLoansTurkey.com Programme Day Two: Wednesday 7th November

11.45 What to do about volatility: How to hedge FX and interest rates •  TRY revenues and funding in EUR/USD: What FX and interest rate risk are issuers exposed to? •  How a decoupling of The Fed/ECB strategy with CBT is impacting corporate FX and interest rate exposures •  Hedging using derivatives for first timers: When to hedge, how to hedge, and with what product to hedge? •  Working with TCMB’s FX hedging policies: Practical insights into hedging in Turkey Murat Gençer, Enterprise Risk Manager, Zorlu Holding 12.30 Chairman’s closing remarks and close of conference followed by networking lunch

I believe this is one of the best events organized in Istanbul. It provides all participants with significant information and insight regarding the markets and the players. Semih Ergür, IC Holding

Bonds, Loans & Sukuk Turkey is a unique event that brings together policy makers, issuers and investors. It is a fantastic platform for exchanging thoughts on key industry trends, debating current & future issues and for networking. I have been attending Bonds & Loans events for many years and always found them to be very professionally and wonderfully organized. I will definitely be back at another Bonds & Loans event. Ashwinder Singh Bakhshi, Barings

Register your place online at www.BondsLoansTurkey.com 9 Gain exposure amongst Turkey’s Arrange finance professionals 30+ meetings Stand out from the crowd by becoming a sponsor. Benefits of your participation include: Connect with hard to reach clients by using our 1-to-1 meeting service - get the Meet attendee list 2 weeks before the event so you can pre-arrange meetings. 63% Showcase your expertise in the region – by presenting a case study to a room full Corporate & of potential clients. FI Issuers and Increase awareness – by taking an exhibition space and demonstrating your Borrowers, products and services. Investors and Win more business – packages include a number of staff passes so you can cover Government more clients.

Increase your brands presence – through the numerous branding opportunities available Speak in front of 520+ The 1-to-1 meeting service was very effective and efficient for us. stakeholders It helped us to meet with existing clients as well as new clients we didn’t have a chance to connect with in the past. It also enabled us to have valuable time with them to discuss the important topics Network with we could not cover during the networking breaks. Gulcan Ustay, Fitch Ratings 150 CEO/Director’s

10 PlatinumSponsors Exhibition Opportunities

Bonds, Loans & Sukuk Turkey is one of the best opportunities to connect with senior representatives of

the Turkish business scene. The beauty is that everyone comes together in one place for a couple of days Gold Sponsors to interact and exchange views, ideas and thoughts. The 1-to-1 meeting arrangement allowed me to efficiently organize my time around the conference, having opened some new, good dialogues. I already look forward to the next year’s conference. Lukasz A. Olszewski, S&P Global Ratings

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11 Book before 5th September and SAVE £200 Quote code DM1

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DELEGATE INFORMATION TERMS AND CONDITIONS

Title First name Payment Invoices are due for immediate payment. Registrations must be paid Last name immediately by or bank transfer. Delegates who have not paid their fees prior to the conference may be refused admission. Job title Substitutions / Cancellations Company Any cancellations must be received in writing at least 90 days prior to the event. A cancellation fee of £250 will be payable on all cancellations received Address by this date. After this date, we regret that no cancellations can be accepted and registering companies will be liable for 100% of the registration fee. A substitute delegate may be agreed at no extra charge. Postcode Data protection Please tick the box(es) if you do NOT want GFC Media Group to contact you by Country email or fax or mail with information on relevant future events. Tel Fax Please tick here if you do NOT want GFC Media Group to share your details Email with sponsors of this event, or other reputable organisations providing relevant services. Please send me an invoice

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BOOK NOW call Andrew Stark today on: +44(0)20 7045 0923 or email at: [email protected] Register online at www.BondsLoansTurkey.com