ÜLKER BİSKÜVİ SANAYİ A.Ş.

Capital/Financing Update • Oct 19, 2020

Summary Info	Recent developments on the issuance of debt securities abroad
Update Notification Flag	Yes
Correction Notification Flag	No
Postponed Notification Flag	No

Authorized Member Decision Date	19.08.2020
Issue Limit	750.000.000
Currency Unit	USD
Issue Limit Security Type	Debt Securities
Sale Type	Oversea
Domestic / Oversea	Oversea
Capital Market Board Application Date	19.08.2020
Capital Market Board Application Result	APPROVAL
Capital Market Board Approval Date	15.10.2020
Expiry Date of Issue Limit	15.10.2021

Additional Explanations

As disclosed in our public disclosure dated 16.10.2020 the Capital Markets Board of Turkey has approved the issuance and sale of debt securities abroad, within a time period of 1 year from the date of approval. In this respect, we have mandated Merrill Lynch International, J.P. Morgan Securities Plc, and HSBC Bank plc for the purposes of offering of the bonds to qualified investors outside Turkey within the format of "Rule 144A" and/or "Regulation S". Starting from 19 October 2020, it is planned that the senior management of our Company will attend a series of virtual investor meetings to be arranged with the potential investors resident in the United Kingdom and the United States of America. The ultimate decision for a bond issuance and the amount and terms of the issue will be determined based on market conditions after the investor meetings. The issuance will be completed following the final registration with the Capital Markets Board and the receipt of tranche issue document. Any further developments will be disclosed.