Turcas Petrol : Analyst Day Presentation

TURCAS PETROL A.Ş.

Analyst Day

December 29, 2021

Online Meeting

Agenda

E-Meeting Agenda	Slot	Speakers
Check-in	14:20 - 14:30
			Mr. Batu AKSOY
Opening Remarks & Turcas Petrol Overview		CEO & Board Member, Turcas Petrol A.Ş.
14:30 - 15:00
•	General Overview, Financial Performance
	Mr. Erkan İLHANTEKİN
			CFO, Turcas Petrol A.Ş.
Shell & Turcas Petrol		Mr. Emre TURANLI
•	Key Highlights	15:00 - 15:25
CEO, Shell & Turcas Petrol A.Ş.
•	Operational Performance
RWE & Turcas Power Generation
•	Key Highlights	15:25 - 15:50	Mr. Burak Söylemez
•	Operational Performance	Managing Director, RWE & Turcas Güney Elektrik Üretim A.Ş.
			Mr. Batu AKSOY
			CEO & Board Member, Turcas Petrol A.Ş.
Turcas Kuyucak Geothermal Power Generation		Chairman, Turcas Kuyucak Jeotermal Elektrik Üretim A.Ş.
•	Key Highlights	15:50 - 16:15
•	Operational Performance	Mr. Erkan İLHANTEKİN
			CFO, Turcas Petrol A.Ş.
			Board Member, Turcas Kuyucak Jeotermal Elektrik Üretim A.Ş.
Q&A	16:15 - 16:45

Turcas: 90 years of History: Full of Strong Partnerships

Turcas

Corporate

Profile

Business Portfolio

Market

Position

• Oil & Energy focused Investment Company;
• Extensive know-howand long-termpresence in the Turkish energy market;
• Hard assets in Fuel Retails & Lubricants, Conventional Power, Renewable Power;
• Priority on Financial Deleveraging and then FX-Driven Ventures.
• 54.5% owned by Aksoy Holding; traded on Borsa Istanbul since 1992;
• A history full of strong partnerships with global major players;
• Corporate Governance Rating: 9.61 / 10; #1 energy company in the BIST CG index.

Joint Venture with	Joint Venture with		Joint Venture with
Holding 30% shares of	Holding 30% shares of	Turcas Kuyucak (1)	Holding 13.1%(2) shares of
Shell & Turcas JV	RWE & Turcas JV	18 MW Geothermal	ATAŞ Oil Terminal
since 2006	since 2009	Power Plant	since 1970

• Shell & Turcas: #1 in Under-the-Canopy sales, #1 in Throughput;
• RWE & Turcas: Owner and operator of the 800 MW Denizli CCPP;
• Turcas Kuyucak Geothermal: Owner and operator of the 18 MW Aydin GEPP;
• ATAŞ: 3rd largest Oil Terminal in Turkey with a total capacity of 570K m3.

1. A Share Purchase Agreement ("SPA") dated December 21, 2021 has been signed between Albioma SA, a French energy company listed on the Euronext Paris Stock Exchange, and Turcas Petrol A.Ş. with regards to the sale of %100 of the shares in Turcas Kuyucak. Please see the relevant Public Disclosure for further details.
2. Includes Turcas' indirect ownership through Shell & Turcas.

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Energy Investment Holding with a Diversified Portfolio

TRCAS.TI / IS

Free Float: 28%

1,122 Nationwide Shell
Branded Fuel Stations	800 MW	18 MW
&
Gas Fired	Geothermal
Lubricants Plant
Power Plant	Power Plant*
in Derince

Note: Turcas has both a direct (5%) and indirect (8.1%) stake (via STAŞ) in ATAŞ (total: 13.1%)

Equity Pick Up Consolidation under IFRS Full Consolidation under IFRS

*A SPA has been signed on 21 Dec. 21' with regards to sale of 100% of the shares. Please see the relevant Public Disclosure for further details.

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Business Lines by Numbers - 9M21 & [3Q21]

Fuel Distribution & Lubricants

			VOLUME (1)	NET SALES	EBITDA (2)	NET PROFIT
			4.9 MM	36,288	1,699	312
			m3	MM TL	MM TL	MM TL
Shell & Turcas	in 9M21	in 9M21	in 9M21	in 9M21
			[2.1 MM m3 in 3Q]	[15,841 MM TL in 3Q]	[746 MM TL in 3Q]	[268 MM TL in 3Q]
				Power Generation
			3.0 MMM	1,392	188	148
			kWh	MM TL	MM TL	MM TL
RWE & Turcas	in 9M21	in 9M21	in 9M21	in 9M21
			[1.2 MMM kWh in 3Q]	[712 MM TL in 3Q]	[135 MM TL in 3Q]	[124 MM TL in 3Q]

	59 MM	57	42	-0.8
	kWh	MM TL	MM TL	MM TL
Kuyucak	in 9M21	in 9M21	in 9M21	in 9M21
Geothermal	[18 MM kWh in 3Q]	[18 MM TL in 3Q]	[12 MM TL in 3Q]	[5 MM TL in 3Q]

1. For Shell & Turcas: Includes Onsite B2C Fuels, Onsite B2B Fuels, Commercial Fuels , LPG, Lubricants. Excluding Supply Third Party Sales.
2. For Turcas Kuyucak; Net FX losses on capex related trade payables amounting to 7 MM TL have been classified as financing expense.

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