AYGAZ A.Ş.

Capital/Financing Update • Nov 15, 2017

Summary Info	Application to Capital Markets Board on issuance of debt instrument
Update Notification Flag	No
Correction Notification Flag	Yes
Postponed Notification Flag	No
Reason of Correction	In line with the text of board resolution, sale type is updated from "sale to qualified investor" to " private placement- sale to qualified investor".

Authorized Member Decision Date	13.11.2017
Issue Limit	300.000.000
Currency Unit	TRY
Issue Limit Security Type	Dept Securities
Sale Type	Private Placement-Sale To Qualified Investor
Domestic / Oversea	Domestic
Capital Market Board Application Date	15.11.2017

Additional Explanations

An application to Capital Markets Board of Turkey has been made on 15.11.2017 f ollowing our material disclosure dated 13.11.2017; regarding issuance of debt instruments with a total nominal value up to 300.000.000 TL and that the sale of which will be done one or several times domestically by way of selling to qualified investors and/or private placement excluding public offering.

This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.