Note: If your iPhone 5 sleep/wake button does not show any signs of this issue and/or does not have a qualifying serial number, no action is required on your part at this time.
Replacement Process
The replacement process is available in your country as of 2nd May 2014.
Bring your iPhone 5 to a participating Apple Authorized Service Provider. Your iPhone will be examined to verify eligibility, before proceeding with the replacement process.
Note: To use the carry-in option, you must visit a participating Apple Authorized Service Provider and not a wireless carrier partner.
Preparing your iPhone 5 for service
Make sure your iPhone is ready for service by completing the following steps:
Back up your data to iTunes or iCloud
Turn off Find my iPhone
Erase data and settings in Settings > General > Reset > Erase all Content and Settings
Remove any case or cover
Note: If you are running iOS 6, your iPhone will need to be upgraded to iOS 7 after the sleep/wake button mechanism is replaced.
Additional Information
Apple may restrict or limit repair to the original country of purchase.
Your iPhone 5 must be in working order to qualify for this program.
If you believe you have paid for a replacement due to this issue, contact Apple regarding a refund.
This worldwide Apple program does not extend the standard warranty coverage of the iPhone.
The program covers iPhone 5 models for 2 years after the first retail sale of the unit.