MIP is a 50:50 joint venture between PSA International group of companies and Akfen Holding group of
companies:

PSA (Singapore): Incorporated in 1972, PSA is a wholly owned subsidiary of Temasek Holdings. PSA is one of the leading global port groups with port projects across Asia, Europe and the Americas with flagship operations in Singapore and Belgium. PSA is the largest global container terminal operator by equity TEUs.

Akfen (Turkey): Established in 1976, Akfen is one of the leading players in the Turkish infrastructure sector with investments in ports, airports, marine transportation, electricity, water utilities, waste water treatment, solid waste services, real estate development and construction. Akfen Holding is listed on Borsa Istanbul since 2010.

MIP issued a Eurobond with a total size of US$450 million in 12 August 2013 which was marketed to international investors. IFC disbursed US$65.7 million for its own account.

75.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	75.0
Equity

* These investment figures are indicative

The Company and the port terminal are located in Mersin in the south eastern part of the Mediterranean coast of Turkey. The port is an existing terminal with access to main highway and railroad.

The proposed Project will help facilitate trade between the expansive hinterland of South-Eastern Turkey, the Mediterranean and the rest of the world by expanding MIP''s modern, efficient port operation. The Company''s proposed capital expenditure program will allow shipping lines to deploy larger container vessels, and therefore lower per TEU costs, benefiting shippers, shipping lines and consumers. This would facilitate trade and assist in the continued economic development of the hinterland served by the port. The proposed capital expenditure program will also generate additional tax revenues for the Government of Turkey, as a result of increased revenues of MIP.

- Demonstration Effect: MIP is proposing to issue the first project bond issued by a Turkish infrastructure company. The proposed transaction will have a significant demonstration effect, encouraging other Turkish infrastructure corporates to consider accessing international bond markets, which would be an important step in the development of a new source of financing for infrastructure projects. The Eurobond issue will allow MIP to maintain its leading position as a port by providing the financing to expand its capacity and deepen the draft of the facility.

- Contribute to the development of the Turkish port sector: MIP''s continued success will enhance competition and increase the available container capacity on Turkey''s Mediterranean coastline. The expected increased container traffic and local cargo will enhance linkages with local businesses involved in transportation, warehousing, logistics, etc., many of which are small and medium size enterprises.

IFC''s investment in MIP''s proposed inaugural Eurobond issue is expected to give comfort to long-term institutional investors that could pave the way for other future infrastructure bonds. IFC would support the development of capital markets and facilitate access to international bond markets for other Turkish issuers. IFC''s participation would signal confidence in Turkey''s nascent infrastructure bond market. IFC''s involvement will further ensure transparency and strengthen MIP''s E&S safeguards by monitoring its compliance with IFC''s social and environmental standards.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Taxes and Other Payments ($M)	Annual Payments ($M) [Actual]		Not Available	Not Available	Not Available
Employment (#)/Direct Employment	Total Employment (#) [Actual]		Not Available	Not Available	Not Available
Employment (#)/Direct Employment	Female Employment (#) [Actual]		Not Available	Not Available	Not Available
CORE - Occupational Injury: Frequency (per million man-hours)	Injury Incidence Ratio (Injuries per million man hours) [Calculated]		Not Available	Not Available	Not Available
CORE - Life and Fire Safety (LF and S)	Life and Fire Safety (Y/N) [Actual]		Not Available	Not Available	Not Available

This is a Category B project according to IFC’s Environmental and Social Review Procedure, as the Project involves limited environmental and social (E&S) risks. The principal Performance Standards (PSs) applicable to the Project are PS1 through PS4. Key E&S issues associated with the existing port infrastructure and proposed expansion include: Occupational Health & Safety (OHS) management; labor and working conditions; dredging; waste management; hazardous materials management; oil spill response and potential impacts on marine biodiversity.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.