Dear stakeholders,

I am happy to present Türk Eximbank’s third Sustainability Report for your review. We are underlining the importance of sustainable exports and trade in our report that discusses our Bank’s sustainability initiatives, projects, direct and indirect impact on a broad perspective.

At Türk Eximbank, we keep a close eye on the developments in the world as we manage all our processes, financial and non-financial alike. We are aiming to create permanent value for the society, exporters, employees and other stakeholders with the sustainability roadmap we have developed within the frame of international principles in various departments including climate change, environmental and social criteria, and efficient utilization of natural resources. One tool we employ to reach this goal has been the “Sustainability, Environmental and Social Risk Management System” project. We defined the project’s purpose as conducting the Bank’s operations in accordance with sustainability principles and formulating our governance structure in line with these principles. We exercised the utmost care to ensure compliance with the UN Sustainable Development Goals (SDGs) when devising our sustainability roadmap.

We continued to stand by the side of our exporters also in 2023 by means of Türk Eximbank support mechanisms.

As we move forward in line with our country’s export strategies, we continue to take additional steps in relation to sustainability at Türk Eximbank. While we provided cash credit support worth USD 19.6 billion to our exporters in 2023 in keeping with our mission derived from our identity as the official export credit agency, we also allowed our exporters to carry out exports securely by insuring receivables in the total amount of USD 22.4 billion.

I pray for Allah’s mercy upon those who perished in the horrendous earthquake disaster of February 2023 that aggrieved our entire nation, and offer my condolences to those who lost loved ones and our entire nation, wishing all strength and solitude. As Türk Eximbank, we continue to stand by the side of our exporters who were affected by the earthquake. To this end, we prioritized women entrepreneurs in the earthquake-hit region in their access to financing with respect to sustainability-linked loans that we financed in 2023. We expanded the performance criteria for sustainability-linked loans with the targets to provide funding to companies supporting women’s employment and SMEs undertaking green production.

We renewed our sustainability-linked syndicated loan by roll-over ratio of over 100% by securing a financing of USD 674 million in May and USD 658 million in November. Hence, we have taken our sustainability efforts one step further.

While our lending to the SMEs amounted to USD 5 billion in 2023, the financing we provided to women entrepreneurs via the CBRT, Türk Eximbank and associated funds reached USD 740 million.

We took part in the international Eurobond markets for the second time in 2023 and carried out a bond issue of USD 500 million within the frame of our strategy to diversify our funding and increase our long-term borrowing options. We secured a solid demand from approximately 120 international investors, almost quadrupling the issue, despite the volatile global financial markets.

Our bond issue earned the “Quasi-Sovereign/GRE Bond Deal of the Year” award at the “Bonds, Loans & ESG Capital Markets CEE, CIS & Türkiye Awards”, which is one of the prestigious recognition programs in the finance sector.

We realized our first-ever capital investment in an international entity.

By all means, we are supporting Türkiye’s policies to broaden the borders of goods and services exports and to advance trade with countries with high export potential although geographically distant. In this context, we signed a shareholder’s agreement with the Africa Finance Corporation (AFC), one of the most important financial institutions in Africa, in 2023.

We consider this strategic partnership to be a significant cooperation that will strengthen the economic ties between Türkiye and AFC-member countries and will derive support for Turkish exporters and contractor companies.

We added momentum to our digital transformation processes in 2023.

We concentrate on achieving productivity and effectively using our resources by backing our service network with new digital applications, benefiting from the technological advancements that gain increasing speed all over the world.

We introduced several projects that will facilitate our work processes on the back of digitalization initiatives we carried out in 2023. In our initiatives, we gave weight to sustainability topics that we placed at the heart of our strategy.

For harmonization with the European Green Deal, we created a model for calculating carbon tax costs in order to prepare for the carbon border tax implementation that will be initiated in 2026. We continue to digitize our manual work processes. The digitalization projects introduced secured increased productivity in our work processes.

We will keep charging ahead resolutely in our course we set for a better future.

In 2023, when we proudly and joyfully celebrated the centennial of our Republic, we continued to work for our country and our future drawing on our guiding values, deep-seated history and experience.

So too in the future, we are determined to move ahead by correctly reading into the developments in our sector and into the needs of our exporters, and to create value for all our stakeholders and our country, being a bank that makes optimum use of its resources and capacity and constantly builds on its human capital.

I would like to thank our employees, exporters and all our stakeholders who played a big part in our achievements in 2023 for their support and contributions.

Sincerely,

Ali GÜNEY

General Manager