European Pump Price Comparison

Heavy Crude Price Differentials to Brent ($/bbl) -10 10 -15 -20 20 -5 0 5 Arab Heavy Basrah Heavy Iran Sanctions OPEC+ Cut Decision OPEC+ disagreement OPEC+ Cut Decision Russia - Ukraine War CPC Average* 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 2018 data as of 31 August 2022 Sep-22 Refining Market Investor Presentation 2019 2020 www.tupras.com.tr 2021 2022 Kirkuk *Simple average of listed differentials 8

View entire presentation