TÜPRAŞ-TÜRKİYE PETROL RAFİNERİLERİ A.Ş.

Capital/Financing Update • Dec 11, 2018

Summary Info	Resolution on domestic debt securities issuance and CMB application.
Update Notification Flag	No
Correction Notification Flag	No
Postponed Notification Flag	No

Authorized Member Decision Date	11.12.2018
Issue Limit	1.000.000.000
Currency Unit	TRY
Issue Limit Security Type	Dept Securities
Sale Type	Sale To Qualified Investor
Domestic / Oversea	Domestic
Capital Market Board Application Date	11.12.2018

Additional Explanations

In accordance with the authorization given by article 8 of the Company's Articles of Association and with the provisions of the Capital Markets Board's Communiqué on Debt Securities, our Board of Directors have decided on issuance of bonds or bills for a total amount up to TRY 1,000,000,000 denominated in Turkish Lira issuing within 1 year period and with various maturities up to 5 (five) years, to be sold to domestic qualified investors without public offering, one or more at a time, in this scope to make an application to the Capital Markets Board for the approval of the issuance certificate; if the application is approved, it is decided to give authorization to the company management in order to determine all conditions within the scope of these restrictions to be realized within one year as of the approval date, to make all the necessary applications to the relevant authorities for the arrangement of the contracts and to perform all necessary operations.

Within this resolution scope, necessary approval application has been made to the Capital Markets Board today.

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.