$1.15 Billion Accelerated Bookbuild Offering of Shares of Akbank

March 5, 2015

Cleary Gottlieb represented Citibank, in its capacity as the lead manager, and the other managers in connection with the sale by Citibank Overseas Investment Corporation (“COIC”) of shares in Akbank T.A.S.

COIC sold a total of 39,599,997,900 shares in Akbank, representing 9.9% of Akbank’s share capital, at a price of TRY 0.0745 per share, resulting in gross cash proceeds of approximately $1.15 billion. The transaction closed on March 5, 2015.

Akbank is one of the largest banks in Turkey. It offers a wide range of retail, commercial, corporate, private banking and international trade finance services. Non-banking financial services, as well as capital market and investment services, are provided by Akbank’s subsidiaries.