ASTALDI’s first experience in Turkey dates back to 1987 with the construction of the Anatolian Motorway and since then it has proudly become one of the major players in Turkey for infrastructural works. Astaldi is the only foreign company member of the Turkish Contractors Association.

Over the coming years, the Group will focus major attention on the planned infrastructural investments in the healthcare and transport sectors, to be performed using the general contractor and PPP formulae.

• Gebze-Orhangazi-İzmir HighwayIncluding Izmit Bay Passage & Connection Roads

• New Terminal Project of Milas – Bodrum Airport

• Ankara Etlik Health Campus Project

PROJECTS UNDER BOT :

TURKISH REPUBLICMINISTRY OF TRANSPORT MARITIME AND COMMUNICATIONGENERAL DIRECTORATE OF HIGHWAYS

GEBZE-ORHANGAZI-IZMIR HIGHWAY CONSTRUCTION OPERATION & TRANSFER (BOT PROJECT)

AWARDED TO: OTOYOL A.Ş

Motorway Investment and Operation Inc.Nurol, Özaltın, Mak-yol, Astaldi, Yüksel, Göçay

BOT TENDER DATE: 09/04/2009BOT CONTRACT DATE: 27/09/2010CONTRACTUAL VALUE: 10.051.882.674 TL (4.188.284.447 €)CONTRACT TERM: 22 YEAR & 4 MONTHS

- CONSTRUCTION: 7 YEARS- OPERATION: 15 YEARS + 4 MONTHS

IC/Guaranteed Traffi c

Direct Agreement

Due Diligence

EPC Contract

O&M ContractorJV-NÖMAYG/Int'l Operator

InsuranceCompany

Customers

Payments Equity

Insurance Policies(to be assigned to

Debt Providers)

Toll Revenues O&M Contract

Sub ContractorsPhase-1

(Section 1&2)

Sub ContractorsPhase-2

(Section 3&4)

EPCContractor(NÖMAYG)

KGM

Debt Providers Loan Agreements

Security AgreementsOther Finance

SPONSORS(NUROL + ÖZALTIN + MAKYOL +

ASTALDI + YÜKSEL + GÖÇAY)

AppointedCompany(OYİAŞ)

Independent Consultants

TechnicalDesignInsuranceIndependent Ext. AuditM&OEnviromentalExpropriationTraffi cEarthquake InvestigationFinancialLegal Counsel

Project Structure

Debt Assumption Agreement

(UT)

PROJECT LOCATION

This is the most significant BOT (build, operate and transfer) project to be accomplished in Turkey and one of the largest BOT motorway projects in the world.

The total construction cost is 6.5 billion US$

BOT CONTACT :

Ch 0+000

Ch 408+655

Length, main features and quantities:

o In Total, 404,6 km

o Connection Road Length 46,2 km

o Approach Roads Length 78,1 km

o State Road Length to be adjusted 27 km

o Slip Roads Length 100,4

o Suspended Bridge Length 3 km

o 31 Viaducts with Total Length 17,2 km

o 192 Bridges with a Total Length 10,6 km

o 2 Tunnels with a total Length 5,1 km

THE BRIDGE:It is a 430 kilometers long motorway and it includes the crossing of Izmit bay with a 3 kilometers long suspension bridge – whose central span will be one of the largest in the world.

BOT Legislation

• Law No. 3996 Regarding Investments Under BOT Model

• Cabinet Decree No. 2011/1807 On the Implementation of the Law

• Law. No. 6001 On the Organization and Duties od GDH

• Law No. 4749 On Regulating Public Finance and Debt Management

• Law No. 5018 On Public Financial Management and Control

• Law No. 6288 Amending Law No. 3996 and VAT Law No.3065 introducing Debt Assumption and VAT Exemption to infrastructure BOT Projects and Health PPP Projects

Law No. 6288Next Steps for DAA/ICDA Execution

• 1st Council of Ministers Decree to authorize UT for DA• Finalizing Term Sheet• Signing of ICDA between Lenders, SPV and GDH• Signing of DAA between Lenders and UT• 2nd Council of Ministers Decree approving DAA

Challenges in arranging the financing

• Huge financing amount requires access to all available financial sources reducing sponsors’ negotiating powers

• Considerable amount of equity needed• Large number of lenders slow the process requiring different and various

conditions creating more complex inter-creditor issues• Financial turmoil in European markets delays the process• Market volatility effects the liquidity and rates

REPUBLIC OF TURKEYMINISTRY OF TRANSPORT MARITIME AND COMMUNICATIONGENERAL DIRECTORATE OF STATE AIRPORTS AUTHORITY (DHMI)

MILAS BODRUM AIRPORT NEW INTERNATIONAL TERMINAL PROJECT (BOT)

CONTRACTOR: ASTALDI S.p.A CONTRACT DATE: 15.01.2011CONTRACT TERM: OPERATION: 47 monthsEPC CONTRACT VALUE: 110,407,890.00 €

This is the first airport concession contract that Astaldi is carrying out in Turkey using Project Finance. The construction of the new international terminal of the Bodrum Airport, is forecast to increase passenger traffic to 5 million per year.

• 18 Check Points for International & Domestic Flights Respectively;

• 66 Check-in Points;• 5.000 Bagage / Hours;• 8 Passenger Bridges;

The works started in January 2011 and will be completed by May 2012.

APRON

NEW TERMINAL

POWER CENTER

MOBILIZATION AREA

Existing Int. Terminal

Existing Domestic Terminal

241x425m APRON

Total closed space: 95.700 m2Parking Area: 26.660m²

REPUBLIC OF TURKEYMINISTRY OF HEALTH

ETLIK HEALTH CAMPUS PROJECT (ANKARA)PPE PROJECT

AWARDED TO ASTALDI – TÜRKERLER

CONTRACT DATE: 05/03/2012CONTRACTUAL VALUE: 276 M TL PER YEARCONTRACT TERM:

- CONSTRUCTION: 42 MONTHS- OPERATION: 25 YEARS

Etlik Hospital Centre with a total capacity of 3,566 beds has already been defined as the largest hospital centre in Europe. Astaldi’s bid proved to be the best in the awarding procedure of this concession initiative worth approximately 900 million Euros of total investments in PPP

THANK YOU FOR YOUR ATTENTION