GARANTI FOR SHAREHOLDERS

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1 FOR SHAREHOLDERS

2 BANK SHARE Garanti shares are traded on the Istanbul Stock Exchange (ISE) under the ticker symbol GARAN. The shares are also listed on the London Stock Exchange Main Market (LSE). Garanti shares were initially offered to public in In 1993, the Bank became the first Turkish company to offer its shares to international markets in the form of American/Global Depositary Receipts (ADR/GDR). Garanti s Depositary Receipts (DR) are currently traded on the International Order Book (IOB), which is the international market of the LSE. In 2012, Garanti s DRs started trading on the prestigious tier of the U.S. Over-The-Counter (OTC) market, the OTCQX International Premier. Garanti Bank has an actual free float ratio of 49.97% as of yearend 2012 and the share of foreign shareholders in this ratio is 97% with a composition that is spread to more than 40 countries. The size of Garanti s DR program has reached 130 million shares. The institutional shareholder structure of Garanti by region is 48% UK&Ireland, 32% North America, 12% Europe and 2% Turkey. Garanti, the most traded stock in the ISE, has around 50 thousand individual shareholders that are registered in Turkey. $22 BILLION Market capitalization constitutes 9% of ISE The most valuable company in Turkey $11 BILLION Highest floating market capitalization in the ISE $117 MILLION Average daily turnover representing 15% of the ISE The Institutional Shareholder Structure by Region UK & Ireland 48% Turkey 2% Other 6% Europe (except Turkey) 12% $ 27 MILLION Total 2012 foreign transactions in GARAN The most traded stock by foreigners Every 1 out of 5 transaction ~ 13 % Highest weight of shares in the ISE North America 32% 0.73 Note: Institutional shareholder composition data based on IPREO Shareholder ID Analysis dated January 2013; actual free float and foreign ownership ratios based on data from MKK (Central Registry Agency) Currency conversion is based on US$/TL CBRT ask rate Earnings Per Share (TL) 50

3 Prepared in both Turkish and English, Garanti Bank s websites ( and feature an Investor Relations section, offering detailed information about Garanti shares such as listing information, financial data on stock performance, capital increases, dividend ratios and list of analysts. The section also includes latest ownership and management structure, credit ratings, periodical bulletins prepared for investors, reports on macroeconomic developments, quarterly financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and Banking Regulation and Supervision Agency (BRSA) regulations and presentations, annual reports, material event disclosures, corporate responsibility projects, corporate governance information and awards. Websites are organized to ensure all stakeholders fast, easy access to accurate information and are updated regularly. At the same time, for the sake of comparability, past-related information are kept and stored systematically. The Investor Relations Department regularly holds proactive meetings with investors to share the Banks s strategy, information on the competitive environment, market expectations, latest developments and forecasts with the effort to establish lean, transparent, consistent and timely communication. In order to ensure accurate and timely flow of information, presentations are prepared on the Bank s quarterly announced financial statements. These presentations are shared with investors through the internet and by and also announced during live teleconferences. The Investor Relations Department regularly attends investor meetings organized by brokerage firms, providing information on recent developments at Garanti in particular and the sector in general. The Department also responds to questions and inquiries by phone or on a daily basis. GARAN SYMBOLS & CODES İstanbul ISE: GARAN SEDOL: B03MYP5 ISIN: TRAGARAN91N1 CUSIP: M4752S106 London LSE: TGBD New York OTCQX: TKGBY SEDOL: ISIN: US CUSIP: Equity Analysts' Ratings Garanti shares ( GARAN ) are widely covered by analysts of leading domestic and international brokerage houses and investment banks. In 2012, 32 institutions have regularly issued research reports on Garanti. As of the end of 2012, 7 analysts had BUY, 24 analysts had HOLD and only 1 analyst had SELL recommendation on Garanti shares. HOLD 24 The Investor Relations Department receives an average of 300 inquiries by telephone or per month and organizes 60 or more one-on-one or group meetings each month with existing and potential investors and banking sector analysts, thus responding to all questions about the Bank. BUY 7 SELL 1 For more detailed information on Garanti s DRs, please refer to: OTCQX Bank of New York Mellon 51

4 BANK SHARE Total Cumulative Shareholder Return in 10 Years TL invested in Garanti Bank share 10 years ago increased to TL 2,104; whereas TL invested in Istanbul Stock Exchange (ISE) Index reached to only TL 754. During the same period, US$ invested in Garanti Bank share increased to US$ 1,941; whereas US$ invested in Istanbul Stock Exchange (ISE) Index reached to only US$ 696. Garanti Bank has a market capitalization of TL 37 billion (US$ 22 billion) as of the end of 2012 and is the most valuable company in Turkey. $2000 $1500 ISE BANKS INDEX $0 ISE- INDEX $500 $ (US DOLLAR) ISE- ISE BANKS INDEX (TL) ISE- ISE BANKS INDEX

5 10 Year Stock Performance and Market Capitalization In 2012, Garanti share price increased by 61% in TL terms and 71% in US Dollar terms and closed the year at TL 9.26 and US$ 5.18, respectively. Garanti share has the highest weight as of December 31, 2012 in the Istanbul Stock Exchange indices, as well as in the Morgan Stanley Capital International (MSCI) indices that are used as the international benchmark by foreign institutional investors. GARAN has a weight of around 13% in the ISE, 15% in the ISE30 and 15.2% and 1.8% in MSCI Turkey and MSCI EMEA (Europe, Middle East, Africa) indices, respectively. Garanti s stock performance differentiated not only in Turkey, but also within the scope of other foreign equity markets. GARAN outperformed MSCI EMEA by 45% in $21 Billion $7 $6 $21 Billion $7 Billion $17 Billion $13 Billion $22 Billion $5 $4 $3 $8 Billion $8 Billion $2 $1 $1 Billion $3 Billion $4 Billion $0 (US DOLLAR) High* Low* Close (TL) High* Low* Close Market Capitalization (US Dollar) * Based on Closing Price Stock prices are adjusted for dividend distributions and capital increases (Source: Thomson Reuters) 53