PROJECT DESCRIPTION IFC considers an investment up to $50 million A Loan to Tiryaki Agro Foods ("Tiryaki" or the "Company"), which is an integrated supply chain manager with activities in sourcing, logistics, processing, storage and marketing of agricultural products (the "Project"). The Company is headquartered in Istanbul, has a substantial presence in Turkey by operating plants across the country, including processing facilities in the southeast Turkish city of Gaziantep, and has international trade presence. Tiryaki is a family owned private company which is engaged in sourcing, processing, storage and trading of conventional and organic grains (wheat, barley and corn), Pulses (lentils, chickpeas, peas, beans, rice and bulgur), Oil seeds (sunflower, sesame, kanola and soybean) and Nuts (pistachio, almonds, walnut and peanuts) across Europe, Africa, the Middle East, CIS countries, Indian subcontinent and America. PROJECT SPONSOR AND MAJOR SHAREHOLDERS OF PROJECT COMPANY The Company is privately owned. The main shareholders are Tiryaki Holding A.S. with 80% shareholding and Gulf Investors Agro S.A.R.L., a fund managed by Investcorp from Manama, Bahrain , with 20% shareholding. Established in 1965 by the Tiryakioglu family and headquartered in Istanbul, the company has successfully expanded to become an integrated supply chain manager sourcing from over 15 different countries with storage and processing facilities in Turkey and exporting to more than 40 countries. Tiryakioglu family has only been focused on Tiryaki and does not have ownership in other businesses. TOTAL PROJECT COST AND AMOUNT AND NATURE OF IFC'S INVESTMENT IFC considers an A loan up to $50 million to finance working capital needs of the Company. IFC INVESTMENT AS APPROVED BY BOARD 30 million (USD) PRODUCT LINE IFC INVESTMENT (MILLION USD) 30 LOCATION OF PROJECT AND DESCRIPTION OF SITE IFC consider providing a corporate loan to finance working capital needs of the Company. IFC's investment is not therefore earmarked for any particular plant. The Company has two operational plants in Turkey in the cities of Gaziantep and Bandirma. Third plant in Mersin is currently at the construction stage. The Company also has three storage facilities located in Gaziantep, Trabzon, Mersin. ANTICIPATED DEVELOPMENT IMPACT OF THE PROJECT -Supply Chain Linkages and Access to Farmers: Tiryaki sources directly from 40 farmers in Turkey through contract farming arrangements, providing them seeds and pre-financing in the process. In addition, the Company works with third-party logistics and service companies. The Project will increase the impact of the Company on SMEs along its supply chain.-Job Creation and Increased Tax Revenues for the Government: Profitable growth of Tiryaki's business would create new jobs and increase the tax revenues to the Government.-Supporting a Regional Player: The Project will strengthen the Company`s market position, which has substantial room for consolidation, and improve its competitiveness in agribusiness sector regionally. IFC'S EXPECTED DEVELOPMENT CONTRIBUTION -Strengthening Tiryaki's Access to Liquidity: To support its substantial growth, Tiryaki would benefit from adding IFC to the list of its financiers. Thanks to IFC's ability to offer various products from straight debt to equity, IFC's contribution would mean much more to Tiryaki than the current project.-Demonstration Effect: Presence of IFC in the Company's capital structure as a financier would strenghten the Company's ability to obtain financing and/or roll over existing credit exposure in the future that is critical to sustain the Company's profitable growth.-Global Network and Know-how: Tiryaki is growing internationally, and IFC`s global experience and network in agribusiness sector will provide additional value to the Company.-E&S Standard Setting: E&S management is becoming more critical for agribusiness companies, particularly for international traders, and IFC will play a key role in developing the Company`s E&S management systems. ENVIRONMENTAL AND SOCIAL ISSUES - CATEGORY B The Project has limited potential adverse environmental and social impacts, and those that do exist are being site-specific and can be resolved through the application of good international industry practices. This corporate-level investment is therefore a provisional Category B project according to IFC's Procedure for Environmental and Social Review of Projects.Key environmental and social risks for this project include;- Quality, Environmental and Safety Management systems, Food Safety programs- Management of E&S Risks and Impacts of Agro-Commodity Supply Chains, risk mapping, child and forced labor risks for direct suppliers and traders, significant adverse impact potential for natural and/or critical habitats by primary suppliers-Occupational Health and Safety risks for direct employees and contractors/third parties- Energy efficiency and air emissions (special environmental and safety measures are required for fryers and roasters if exist)-Water use efficiency at the supply chain- Life, fire and traffic safety- Labor transparency typically require strengthening

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