Istanbul, December 21, 2018

Announcement Regarding the Completion of Transfer of Shares Held by Fintur Holdings B.V. in Kcell JSC

With reference to our announcement dated December 12, 2018, our subsidiary Fintur Holdings B.V.* ("Fintur"), in which we hold 41.45% stake, has completed the transfer of its 51% total shareholding in Kcell JSC ("Kcell") established in Kazakhstan to Kazakhtelecom JSC ("Kazakhtelecom") established in Kazakhstan, a fixed line operator controlled by the government of the Republic of Kazakhstan through the sovereign wealth fund Samruk-Kazyna today. The buyer has performed the payment to Fintur.

Pursuant to closing adjustments, the transaction implies an enterprise value of US$ 771 million for 100% shares. This corresponds to an EV/EBITDA multiple of 5.0 times based on the last twelve months EBITDA as per September 2018.

*Fintur Holdings B.V. is currently 41.45% owned by Turkcell and 58.55% by Telia Company. Fintur is classified as "assets held for sale" in our financials.

For more information:

Turkcell Investor Relationsinvestor.relations@turkcell.com.tr Tel: + 90 212 313 1888

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Turkcell Iletisim Hizmetleri AS published this content on 21 December 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 December 2018 16:24:01 UTC