Investor Presentation Aug-21 slide image

Investor Presentation Aug-21

Tüpraş and Med Refining Margins Average Margins ITüpraş Net Margin 8.1 9.3 Med Margin 6.0 3.6 5.3 4.6 3.7 1.7 1.3 Average Margins ITüpraş Net Margin Med Margin 1.8 1.2 2.1 1.5 0.9 0.7 -0.2 -1.9 -0.6 -0.1 -0.2 2016 2017 2018 2019 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 ($/bbl) Gross Inventory Margin Effect Clean Clean Gross NET Margin Margin Net Margin Med Margin • Q1 2020 7.1 -2.7 9.8 3.9 1.2 1.8 . 2020 6.4 0.0 6.4 1.2 1.3 -0.2 • • Q1 2021 7.7 2.5 5.2 -1.0 1.5 -0.2 Lower cost basis and more efficient energy usage • Premium to the benchmark Mediterranean peers' refining margin due to: Ability to use heavier and sour crudes with higher complexity Access to a wide range of cheaper sources of crude oil Close proximity to major suppliers reduces transport costs Ability to produce a broad range of refined products with higher value added Aug-21 Investor Presentation Financials • Direct pipeline connections with domestic clients www.tupras.com.tr 25
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