Ulker Fin.

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  The proposed IFC investment is a €75 million senior unsecured loan to and a subscription of US$65 million to US$-denominated sustainability linked senior unsecured fixed rate Eurobond issued by Ülker Bisküvi Sanayi A.S. (“Ülker” or the “Company”), a leading Istanbul-headquartered food manufacturer, to support its operations in Türkiye and Kazakhstan. The use of proceeds will finance (i) seismic reinforcement measures for the infrastructure of two Istanbul-based factories (Ülker Bisküvi San A.S. in Topkapi/Istanbul and in Gebze/Kocaeli); (ii) maintenance investments in its subsidiary in Kazakhstan (Hamle Company Ltd. LLP in Almaty); (iii) corporate sustainability investments for resource efficiency and Greenhouse Gas (GHG) emissions reduction in Topkapi, Gebze and Hamle facilities targeted by this investment; and (iv) refinance working capital needs of Ülker’s facilities located in Topkapi and Gebze in Türkiye, and its Hamle factory in Kazakhstan (“the Project”). Ülker is the parent company of the Group, and is a public company listed on Borsa Istanbul. Shares of Ülker Bisküvi representing 47.2% of its issued capital were owned by pladis Foods Limited (“pladis”) (100.0% of which is owned by Yildiz Uluslararasi Gida Yatirimlari A.S. (“Yildiz Uluslararasi”)), whereas 39.7% were free float shares. The remaining 13.1% shareholding in Ülker is owned by Yildiz Holding A.S. and Ülker family members.