#1808 Koc Investor Presentation www mis m www www kun www Arcelik December, 2023#2AGENDA Overview of Arçelik (pg. 3-8) Investment Highlights 3Q23 Highlights (pg. 25-33) Sustainability (pg. 34-45) Guidance (pg. 46-48) Appendix (pg. 49-59) (pg. 9-24) -0-0-0-0- Investor Presentation Arçelik#3Overview of Arçelik Investor Presentation Arçelik#4Koç Holding: strong, stable & supportive parent Turkey's Leading Investment Holding Company Turkey's largest industrial and services group Sustainability oriented business model focusing on profitable growth Leading positions with clear competitive advantages in sectors with long-term growth potential such as energy, automotive, consumer durables & finance -9% ~7% ~7% R&D expenditure/ Combined Revenues/ GDP Total Exports/Turkey's Exports Total private sector R&Ds* Energy AYGAZ Eppet ENTEK 19% Koç Group's Mcap/ BIST100 Index** >150 # of export countries Fortune Global 500 Only company from Turkey*** ~70% CAGR in consolidated net profit in the last 5 years" Automotive Overview of Arçelik Strategic Overview Consumer Durables Main Companies Arçelik A.Ş. Finance Arçelik Other Tüpraş FORD OTOSAN YapıKredi Food tat IT TOFAŞ KoçSistem TURKCHILARI arçelik LG Kocfinans Retailer Fintech bilkom Dijital Yaşam Koçunuz koctas >TOKEN TürkTraktör Otokar Otokoç Otomotiv Ford STELLANTIS CNH INDUSTRIAL International Alliances LG Electronics in air conditioners HITACHI Shareholder Structure -61% 1/3 Net Asset Value by Sector² Share of Foreign Investors in Free Float Women Board Members A True Global and Diversified Player ~55% International & FX linked revenues/Total revenues¹ -90 Production facilities and sales & marketing companies abroad ~27k # of employess abroad****** 1. Excluding FX linked revenues of Tüpraş refinery, International revenues/Total revenues = -31%, as of 31 March 2023 2. NAV based on company calculation. ~90% of NAV comes from listed assets (31 March 2023 Mcap of each, weighted with effective ownership). Other assets includes net cash including YKB and other assets. 10% Other 9% Consumer Durables 37% 3% Oil & Gas Dist. Auto (PC &CV Man.) 13% Refining 17% 12% Finance Auto (Other) Data as of December 31, 2022, unless otherwise stated. *Based on TurkStat 2021 R&D data. **As of December 31, 2022. ***2022 report (based on consolidated revenues) ****In TL terms between 2018-22. ***** Total number of employees = ~115K 1/3 International Board Members Koç Family has its own internal governance and investment vehicle which provides stability in shareholder structure (Family Danışmanlık) Majority of Koç Family's business ventures are via Koç Group Koç Family mainly assumes board-level responsibility. 3. Koç Holding initiated its first Share Buyback Program in July 2021. Total buyback is ~890K shares (equivalent to around 0.035% of capital) since initiation of the programme. 4. Includes personal holdings of 18.65% stake and 1.4% stake of RMK ve Mahdumları 5. As of 30 June 2023, total voting rights including A (2 voting rights) and B (1 voting right) shares is 55.55%. A shares do not have any other privileges Procurement Innovation Zer INVENTRAM! Tourism, D. Free, Mar. Setur divan WAT King sher KAGOME Sumitomo 7.26% 2.35% Vehbi Koç Koç Foundaiton Pension Fund 26.69% Free Float3 43,65% Family Danışmanlık 20.05% Κος Family4 4#5A leading global household appliances company with... Overview of Arçelik 31 82 14* c.45k +150 Production plants Subsidiaries Brands Employees worldwide Countries we serve Strong Ownership Structure Diversified Revenue Composition 9M23: TRY145.1bn Revenue 2022: TRY133.9bn Revenue Arçelik 30 R&D and Design Centres +2,300 Engineers & Researchers in R&D Centres c.3,000 Patent Application **** Leading Positions" Founded in 1955, Arçelik has grown to become one of the three largest white goods company in Europe (24CTR) 57.24% Koç Group 40.56% Koç Holding AŞ 8.67% Koç Family 9M23 38% 62% 76% 7% 17% 5.26% Koç Foundations 2.75% Temel Ticaret beko 25.15% Free Float** 2022 30% 70% 79% 7%14% 10.19% Arçelik AŞ 14.96% Floating market leader in the U.K. & among the top three players in major countries in Europe Turkey International White Goods Consumer Electronics Other 17.61% Burla Group 12.05% Teknosan Büro Mk. AŞ 5.56% Burla Tic. ve Yat. AŞ 2022 9M23 Western Europe 26% CIS&Eastern Europe 15% arçelik arctic market leader in Turkey market leader in Romania 23% 15% APAC 12% 10% Africa 5% 4% Middle East 4% 4% Pakistan 3% 2% Bangladesh 2% 2% Other 2% 1% DEFY market leader in South Africa *Owned or used with limited license **Trading on Borsa Istanbul Stock Exchange. Total Mcap of Arçelik is c.USD3.2bn. ***Shares bought-back as of November, 2023. ****Market positionings reflect the data of a retail panel market as of December 31, 2022 and are in unit terms. 5#6Such a great history.. Establishment . Beko starts marketing & sales operations Acquisitions of Elektrabregenz, Blomberg, Leisure, Flavel, Arctic 2001 1955 Until 2000's 2022 2005 2010 • • Acquisition of Defy in South Africa (2011) Groundbreaking of Thailand Refrigerator Plant (2015) • Listed under BIST Sustainability Index . Establishment of recycling. facilities in Eskişehir & Bolu 2011 2015 Overview of Arçelik Arçelik Establishing a new JV with Hitachi* Acquisition of Whirlpool Turkey Plants** Issuance of EUR350mn Greenbond 2016 2020 2022 2021 2023 Acquisition of Dawlance in Pakistan (2016) • . The era of many firsts; First productions of WM & Refrigerator Establisment of Refrigerator & Compressor plants Establisment of R&D Centre and • • • Consumer Information Service Establisment of Dishwasher & Production plants in Russia & • China Acquisition of Grundig Multimedia and Grundig Brand Turkey's First Tumble Dryer Plant First 4 door refrigerator produced in Turkey • • • • Cooking Appliances plants Arçelik-LG Air Conditioning starts production • Turkey's first 3D LED TV Issuance of USD 500mn Eurobond • in Bangladesh (2019) • Launch of Voltas Brand and Groundbreaking of India Refrigerator Plant (2018) Opening of Çerkezköy Electronics Plant Acquisition of Singer Arçelik's first Industry 4.0 factory in Romania *A J.V., in which Arçelik has 60% share, has been established to operate in the global home appliances market outside the Japanese market. **Arçelik has purchased the entire share capital of Whirlpool Beyaz Eşya Sanayi ve Ticaret Anonim Şirketi which manufactures refrigeration units and washing machines, a wholly owned subsidiary of the white goods manufacturer Whirlpool Global Holdings S.A.R.L. ***The transactions are subject to regulatory approvals and the approval process is ongoing. • . • . Acquisition of Whirlpool's Russian assets (2022) Groundbreaking of Egypt plant (2022) Share purchase agreement for acquiring Asogem NV (2022) Achieving the highest scoring household durables company in Dow Jones Sustainability Index, four years in a row (2022) Announcement of contribution agreement*** with Whirlpool on European business and acquisition of Whirlpool's MENA subsidiaries (2023) Issuance of USD400mn Eurobond 6#7Far reaching operational network Refrigerator Washing Machine Dishwasher Dryer Cooking A/C⭑ TV SDA Turkey Romania S.Africa ✓ ✓ Pakistan ✓ ง Russia Thailand ✓ Bangladesh ✓ India** ✓ China *Air Conditioner JV With LG Electronics in Turkey. **Refrigerator JV with Voltas in India Overview of Arçelik Arçelik R&D Centres & Offices Production Plants Partners Subsidiaries & Affiliates 7#8- Strategy – focus on where to play to ensure long-term sustainable and profitable growth Where we will play Reinforcing our core Overview of Arçelik Arçelik Expanding our boundaries (geographies) Expanding our boundaries (products) Building a new engine of growth • Continue to strengthen our leading positions in Turkey, Pakistan, Bangladesh, European and South African market • Increasing international market share through organic & inorganic growth particularly in Asia-Pacific, North America, Middle East, Europe, India and Africa • Broader range of innovative products such as smart and connected home products, health and wellness products New business models and services that increase recurring revenue such as integrated product and service offerings 8#9Investment Highlights Investor Presentation Arçelik#10Key investment highlights Investment Highlights Arçelik Leading positions in key markets Diversification • • Leading producer of white goods in Turkey Beko is one of the top three largest brand in the European market and market leader in the U.K. (up from 7th position in 2004) One of the three largest market share in the European market as a Group, whilst holding leading positions in its key international markets such as South Africa, Pakistan and Bangladesh Acquisitions, greenfield investments and new sales offices to further boost global presence Serving customers in over 150 countries with wide product range and enhanced brand portfolio including 14 brands Recognised diversification by rating agencies, resulting in ratings above the Turkey sovereign Proven track record of inorganic growth Acquisition of 60% shares of Hitachi Home Appliances Netherlands B.V. (Hitachi home appliances business outside Japan) Acquisition of leading brands; Dawlance in Pakistan, Singer in Bangladesh, Defy in South Africa Joint venture with Voltas, a Tata Group Company, in India and greenfield investment in Thailand Announcement of contribution agreement with Whirlpool Europe and acquisition of Whirlpool's MENA subsidiaries (subject to regulatory approvals) Cost Competitivenes . Financial strength Leading R&D capabilities • Production in low labour cost regions which are in close proximity to key markets • Manufacturing facilities are among the largest of their kind leading to economies of scale Understanding flexible manufacturing to address different local needs efficiently Prudent debt management - net leverage ratio consistently below 2.5x and hedging policy in place Robust revenue growth with a 96.4% increase vs 2021, resulting in a 92.9% growth in gross profit Improvement in NW C/sales ratio from 2019 to 2022 through efficiency Manufacturing with its technology The only Turkish company repeatedly on the top 150 PCT applicants list of WIPO Strategy: delivering an innovative product pipeline with energy efficient products Market positionings reflect the data of a retail panel market as of December 31, 2022 and are in unit terms. 10#11Leading position in key markets - strong dealer & after-sales network and brand image provide continuous leadership in Turkey • • Investment Highlights Arçelik Exclusive Dealer Network Around 3,000 exclusive dealers in Turkey for Arçelik and Beko brands on long term relationship Providing Arçelik customer royalty, proximity and brand awareness Arçelik manages marketing, store formats and dealer training Arçelik supports dealers via payment terms while dealers bearing consumer risk, providing indirect consumer financing • • • • After-Sales Services Widest after-sales network in Turkey; 10 regional after-sales service centers & +600 exclusive after- sales service points Delivery, assembly, installation, repair and general customer support processes Strong technology infrastructure; extensive database and immediate feedback on product performance Local call center to address customer issues quickly and effectively (7/24) • • Stong Brand Recognition Arçelik brand, being Turkey's Lovemark for 14 consecutive years and Beko among top three brands in same research made by Ipsos and Mediacat. Areas questioned in the survey; Spontaneous Awareness, Feeling Close to, Fulfilling Expectations, Most Loved, Never Give up arcelik LOVEMARK Türkiye Premium brand in Turkey arcelik Continuously a significant ✓ ALTUS beko market leader GRUNDIG International brand Among top three in Turkey 11#12Leading position in key markets - solid presence in Europe & leading positions in emerging markets with key brands Investment Highlights 10% beko ✓ Maintained 1 st position in the U.K. 8% 6% ✓ Among top three brands in major countries in Europe including Austria, Belgium, Denmark, France, Italy, Spain, Poland, Russia, Ukraine, Serbia, Israel 4% 2% 0% arctic ✓ Fastest growing white goods brand in the European market since 2000 Continuous strong leadership in Romania with Arctic brand, followed by Beko brand in unit terms, strengthening the positioning of Arçelik Group ✓ Having the most widespread distribution network in Romania and also most dominant after sales service network 25% 20% 15% 10% 5% 0% Beko Market Unit Share (EU24) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Arctic & Beko Market Unit Share in Romania #1 #1 #1 #1 #1 #2 #2 #2 #2 #1 #2 #1 #2 #2 ■Arctic Beko Defy Market Unit Share in South Africa ✓ Market leader with Defy brand in South Africa in both unit & value terms 45% #1 #1 #1 #1 #1 #1 #1 DEFY ✓ A premium brand in the South African market and its target demographic is mid- tier income consumers 30% 15% ✓ Products are sold mostly through independent retailers and national chains 0% 2016 2017 2018 2019 2020 2021 2022 Also; • . • GRUNDIG A Premium Brand into MDA Market Leveraging Grundig's German heritage and strong image in Consumer Electronics Expanding the brand into Premium White Goods Segment (Price Index around 120 in Europe) The only European to have a full product range which includes MDA, SDA and Consumer Electronics D Dawlance In Pakistan Leading appliance company Market positionings reflect the data of a retail panel market as of December 31, 2022. SINGER BANGLADESH LIMITED In Bangladesh Strong position in the appliances market, widely recognised brand • VOLTAS-beko 2016 2017 2018 2019 2020 2021 2022 Arçelik HITACHI Home Appliances In India Increasing presence in one of the most populated country in the world In Asia Increasing presence in Asia with a well recognized brand 12 Arçelik#13Diversification - operating in a more diversified regions Investment Highlights Arçelik EXPANDING PRODUCTION BASE THROUGH Acquisitions Greenfield investments INCREASING EMERGING MARKET EXPOSURE THROUGH • Acquisitions • Opening of new sales offices 2010 Production Base 2022 4% Russia 12% Romania 2% China 14% Other* 2010 Revenue Breakdown 2022 5% S.Africa 13% Other** 5% Thailand 29% Other** 30% Turkey 5% Russia 65% 82% Turkey 11% Turkey 38% Europe 49% Turkey Romania 41% Europe *Others include Pakistan (3.6%), Bangladesh (2.3%), India (2.0%) and China (0.9%). **Others include APAC, EM countries and other countries. We serve more than 150 countries 13#14Diversification - a wide product range with the leading brands • • PRODUCT PORTFOLIO Built-in & Freestanding Major Appliances Refrigerators Freezers Washing Machines Dryers ⚫ Dishwashers . Ovens Microwave Ovens • Hobs • Hoods • Warming Drawers • • Water Dispensers Water Filtration Heating Ventilation AC Air Conditioners .• Combi Boilers Water Heaters Room Heaters *Major Appliances, Consumer Electronics, Small Domestic Appliances Consumer Electronics Investment Highlights Arçelik BRAND PORTFOLIO • TV's Arçelik • Smart Phone's • Notebook's & Tablets POS Cash Register • Hi-Fi Systems arçelik beko VALTUS Blomberg LEISURE seit 1883 • Portable Audio Systems elektrabregenz arctic FLAVEL GRUNDIG DEFY Small Domestic Appliances Vacuum Cleaners D Dawlance VOLTAS⚫beko SINGER HITACHI Kitchen Appliances • Personal Care • Garment Care Fans Steam Cleaners Components Hermetic Compressors Appliances Motor-pumps *Licensee limited to certain jurisdisctions 14#15- Diversification – strong ratings, above Türkiye sovereign Investment Highlights Arçelik Diversification of Arcelik recognised by S&P and Fitch Standard & Poor's BB Three notches above Turkey Sovereign BBB Stable Negative BBB- BB+ Stable BB Stable Negative BB- Negative B+ S&P Global B Ratings Stable Negative Fitch BB- Two notches above Turkey Sovereign BBB Negative BBB- Stable Stable Stable Stable Negative Stable Negative Investment Grade Threshold Investment Grade Threshold Negative BB+ Stable Stable Stable BB Negative BB- Negative B+ Stable Stable B Stable Negative Fitch Ratings Nov 2016 Jan Feb May Aug Mar 2017 2017 2018 2018 2020 Mar 2021 Dec Sep 2021 2022 Mar 2023 Aug Nov Jan 2016 2016 2017 Jun 2017 Arçelik Türkiye Source: Bloomberg, S&P, Fitch Stable Negative Negative Stable Positive Negative Negative Negative Negative Negative Negative Stable Oct Jan Jul Oct Jul May May Jun Dec Feb Jul Mar Apr Sep 2017 2018 2018 2018 2019 2020 2021 2021 2021 2022 2022 202320232023 15#16Proven track record of inorganic growth - geographical expansion backed by smart strategy ASEAN Thailand greenfield investment for leveraging Beko brand and its European positioning across the region Hitachi acquisition to benefit from its market positioning across the region, the synergies (cost & CAPEX) and premium image • Investment Highlights Arçelik Pakistan Acquired Dawlance, the leading home appliances brand in Pakistan, in 2016 • Market leader in cooling and microwave ovens, runner up in laundry and AC segments Three production facilities in Hyderabad and Karachi beko HITACHI D Dawlance Voltas, our JV Partner, India part of India's largest conglomerate TATA Group Leading player in Indian A/C market Leverage both parties' strengths: Arçelik's technology and brand image combined with Voltas' local expertise and sales network Products are labelled under Voltas-Beko co-brand Arçelik started supplying products to the JV in 2H18 . Bangladesh Acquired Singer Bangladesh in 2019 Strong position in the appliances market, widely recognized brand in Bangladesh Wide product range (home appliances, consumer electronics, others) Extensive retail and service network International business partners South Africa Acquired Defy in South Africa in 2011 The strongest appliance brand positioning in South Africa and in the countries of Southern African Customs Union fitting well with our growth strategy Offering a full range of kitchen and laundry appliances VOLTAS beko SINGER® BANGLADESH LIMITED DEFY 16#17- Cost competitiveness – providing Arcelik to achieve higher quality with lower costs • Low Cost Base Most labour intensive functions including HQ, R&D and production plants located in low cost countries. Investment Highlights Arçelik FI SE NO 802 EE Economies of Scale Huge production capacity in Turkey, Romania. High capacity utilization rates in largest production hubs. Proximity to Target Markets Production hubs serving nearby geographies with favorable lead times; Europe, CIS and N. Africa from Turkey, Romania and • Russia Sub-Saharan Africa from S. Africa ASEAN and China from Thailand and China PT ES DK GB** RU LV LT BY BE PL DE CZ LU SK FR CH* AT HU SI HR RO BA* RS** BG ME* MK* AL GR** Hourly labour cost (EUR/employee) Industry, construction and services (except public administration, defense, compulsory social security) UA TR* Source: Eurostat 2020 / **Eurostat 2019 / *Eurostat 2016 GE AM AZ < 10 (10-20) (20-30) (30-40) >40 N/A KZ 17#18Financial strength - solid revenue growth with sustainable margins throughout the years SOLID REVENUE GROWTH THROUGH Organic growth • Inorganic growth • Strategic pricing initiatives Revenue (TRYmn) Investment Highlights Arçelik SUSTAINABLE PROFITABILITY THROUGH • Global sourcing power • Strict cost management • Operational efficiency Margins (%) TRY CAGR: 28% EUR CAGR: 7% 133,915 33,0% 33,8% 31,8% 32,0% 29,8% 30,1% 30,5% 31,2% 31,7% 32,0% 28,9% 30,0% 29,5% 40.765 68,184 20.789 12,0% 13,1% 40,872 93.151 10,2% 9,6% 10,4% 11,0% 10,8% 11,0% 31,942 9,4% 10,4% 10,5% 10,1% 26,904 8,9% 14.103 16,096 20,841 6,936 8,437 10,557 3.417 3.519 3.977 4.460 2010 2011 4.454 6.103 2012 11,098 4.617 4.852 7.662 6.481 2013 14,166 12,514 5.724 8.442 10.326 8.425 47.396 6.449 9.647 8.125 12.716 18.479 21.616 26.770 2014 2015 2016 2017 2018 2019 2020 2021 2022 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 ■International ■Domestic Gross Margin EBITDA Margin 18#19Financial strength - working capital efficiency has been structured through years of continuous focus '10-'15 Avg. 35.7% • Investment Highlights Arçelik EFFECTIVE WC MANAGEMENT THROUGH Reducing receivable days. • Extending payable days '16-'22 Avg. 26.1% • Healthy levels of inventory 40,0% 38,9% 36,2% 33,0% 33,3% 32,5% 29,3% 30,3% 28,0% 27,0% 26,3% 20,5% 21,0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 142 Days '10-'15 Avg. Cash Conversion Cycle 111 Days '16-'22 Avg. 19#20Financial strength – robust profitability leading to strong free cash flow Investment Highlights Arçelik FCF (TRYmn) 4.859 FCF CREATION THROUGH • 6.421 Strong profitability 5.096 • Controlled NWC 3:835 1:123 2:887 1.681 643 150603 (1961 675 (471) 384 (568) 590 (449) (622) (79) (824) (868) (1.760) (1.338) (1.073) (1.562) (617) (2.445) (5.713) 12 5191 2010 2011 2012 2013 2014 2015 2016 Net OCF CAPEX 2017 2018 2019 2020 2021 2022 ―FCF Net OCF is Cash flows provided by/(used in) operating activities FCF is calculated as deducting Cash outflows from purchases of property, plant and equipment and intangible assets amount and cash inflows from sale of property, plant and equipment and intangible assets from Net OCF 20#21Financial strength - strong balance sheet management led healthy leverage despite acquisitions & share buyback Net Debt & Leverage 2,45 2,36 2,39 0,95 Investment Highlights Arçelik Currency Effective Interest Rate p.a. Debt Currency & Rates Breakdown Original Currency TRY Equivalent Share (mn) (mn) (%) TRY 21,6% 5.666 5.666 11,5% EUR 2,5% 588 11.716 23,9% USD 7,6% 54 1.009 2,1% 2,40 GBP 5,3% 7 161 0,3% 2,26 ZAR 6,4% 1.093 1.208 2,5% AUD 3,3% 29 363 0,7% PKR 16,0% 37.706 3.093 6,3% 26.910 BDT 7,0% 5.901 1.071 2,2% RUB 13,0% 10 3 0,0% RON 7,1% 141 566 1,2% PLN 7,8% 138 588 1,2% 16.775 NOK 3,9% 26 49 0,1% SEK 1,0% 95 170 0,3% IDR 8,4% 90.872 109 0,2% MYR 6,0% 32 136 0,3% THB 4,4% 185 100 0,2% TOTAL LOANS 26.007 53,0% USD 5,0% 506 9.463 19,3% EUR 3,0% 356 7.098 14,5% TRY 22,6% 6.496 6.496 13,2% TOTAL BOND 23.057 47,0% TOTAL 49.064 8.099 6.607 TRYmn 4.794 5.054 2017 2018 2019 2020 2021 2022 Net Debt -Leverage Cash Currency Breakdown TRY24.5bn (EUR1.2bn) 14% Other 13% 39% TRY USD 5% CNY 9% RUB 20% EUR Debt Currency Breakdown TRY49.1bn (EUR2.5bn) 16% Other 21% USD 25% TRY 38% EUR Debt Maturity Profile TRY49.1bn (EUR2.5bn) 8% 2027+ 17% 2026 2% 70% 2023 2025 3% 2024 21#22Leading R&D capabilities - we integrate rapidly developing technologies into our business model 30 R&D Centres >2,300 Researchers Romania 2 7 30 +0.8k +2.3k United Kingdom 1 Turkey 2010 2023 2010 2023 Pakistan 3 15 >3,000 Patent Application UNIVERSITY OF UNIVERSITY OF CAMBRIDGE S T S Technische Universiteit TU eve University of Technology Memberships and Collaborations MARYL UNIVERSITAT 56 IND DUISBURG ESSEN VIT Science and Technology in Society forum UNIVERSITE KOÇ ÜNİVERSİTESİ OF CALI RNIA South Africa 1 Fraunhofer Investment Highlights Arçelik Russia 2 Taiwan 1 India 1 China 2 Thailand 2 APPLIN Home Appliance Europe DTU Technical University of Denmark KATHOLIEKE UNIVERSITEIT LEUVEN The ogremacy Bilkent Universitest WAGENINGEN UR eirma For quality of AIMPLAS INSTITUTO TECNOLÓGICO DEL PLÁSTICO Technical University of Munich TUM POLITECNICO MILANO 1863 25 Horizon 2020 Projects - Performance leader of its sector 21 Horizon Europe Projects THE FRAMEWORK PROGRAMME FOR RESEARCH AND INNOVATION HORIZON 2020 HORIZON EUROPE 22#23R&D Strategies Sustainable Smart Spaces Wellness @ Home Investment Highlights Arçelik Global and Digital R&D Russia UK Romania Turkey Pakistan South Africa China Taiwan India Thailand Energy Efficiency & Management Autonomous Products Frontier Technologies for Sustainability Computer vision & Personalization Air filtration and Indoor Air Quality Water Filtration Technologies and Applications Food as Thy Medicine Personalized Healthy Recipes Talent Development Global Collaborations Agile Transformation Standardization of Platforms and Processes 23#24Innovation Ecosystem Garage Innovation Hub Arcelik garage University Collaborations Investment Highlights Arçelik WE-in Tech Program PROJE FUARI YARIŞMASI BILKENT UNIVERSITES INNOVATING WEAre we the engineers INTECH who are ready to set off to design the technology of the future? yes, We are. Garage Innovation Hub is the Innovation department of Arçelik acts as a bridge between the ecosystem and Arçelik by working as a facilitator in order to benefit from the knowledge, experience, and connections among ecosystem players such as startups, mentors, investors, and relevant non-governmental organizations, private and public institution representatives. Garage Innovation Hub has two main missions. The first one is to create, expand, and spin off new technologies and business models in areas other than Arçelik's core competencies. The second one is to implement innovation and entrepreneurship programs both within and outside of Arçelik. We collaborate with universities on graduation thesis. In 2023, 23 graduation thesis completed with 8 universities. Each thesis focused on finding innovative solutions to real life problems of Arcelik products and processes. For 2024, we provided more than 250 real life thesis subjects to universities. Besides, by this collaboration scheme, we provide recruitment opportunities for successful new graduates. WE-in Tech aims to create an environment where future generations of female engineers and R&D professionals will feel encouraged and be enabled to thrive within the engineering and next-generation R&D fields in STEM. The program contains 3-day workshop including trainings, inspirational speeches, and product development teamwork ideation sessions. Afterward, participants have the opportunity to work together with their mentors one to one and trainings covers a range of topics regarding the current digital transformation and technology trends such as Design Thinking, Data Analytics, Agile, and Big Data. 24#253Q23 Highlights Investor Presentation Arçelik#2620 3Q23 HIGHLIGHTS Arçelik Solid revenue growth momentum and annual margin improvement at all lines maintained.. TRY58.2bn Revenue Consolidated revenue growth of 70% y/y driven by continued strong unit growth in Türkiye, strategic pricing initiatives and TRY depreciation. 10.6% EBITDA Margin 24.0% OPEX/Sales Wholesale & retail demand in Türkiye remained strong while the demand in international markets continued to decline. EBITDA margin was 10.6%, up by 190 bps y/y thanks to eased raw material costs, strong Türkiye operations and strategic pricing across regions. Net Working Capital/Sales was 23.4% as of 3Q23. 23.4% Leverage was down to 2.36x as of September, 2023. NWC/Sales 2.36x Leverage Successful issuance of USD400m Eurobond. 26#27Key Factors Sales / Margins Onl REVENUE GROWTH 70% ① Strong unit growth in Türkiye ①TRY depreciation on both q/q & y/y ①Price increases on both q/q & y/y GROSS MARGIN 32.8% ①Lower raw material costs on both q/q & y/y ⑰Favorable EURUSD parity on y/y 3Q23 Highlights Arçelik EBITDA MARGIN 10.6% Better gross profitability on both q/q & y/y Increased OPEX/Sales on both q/q & y/y TRYmn 58,218 31.9% 32.8% 46,948 28.8% 34,255 10.8% 10.6% 8.7% 3Q22 2Q23 3Q23 3Q22 2Q23 3Q23 3Q22 2Q23 3Q23 27#28Steady growth in revenue gained momentum in Türkiye thanks to ongoing robust demand and strategic pricing efforts ① MDA6* ARÇELİK y/y growth (%) TÜRKİYE y/y growth (%) (0%) 2% 30% 30% Jul-Aug 22 Jul-Aug 23 AIR CONDITIONER* ARÇELİK y/y growth (%) 3Q23 Highlights Arçelik Türkiye Revenue Growth -121%. -22%- 22,403 18,398 10,128 TRYmn 3Q22 2Q23 3Q23 O Unit growth in MDA6 Unit growth in A/C Unit growth in TV Price increases $$$$ [ TÜRKİYE y/y growth (%) 498% 334% (57%) (54%) Jul-Aug 22 Jul-Aug 23 TELEVISION** IARÇELİK y/y growth (%) I TÜRKİYE y/y growth (%) 16% 19% (5%)(4%) 8M22 8M23 *MDA6 and A/C data (sell-in, in unit terms) is based on WGMA for April-May period on a cumulative basis. **TV market reflects the data of a retail panel market for 5M23 period in unit terms on a cumulative basis. Türkiye Share in Total Revenue 3Q23 9M23 30% 38% 30% 38% 3Q22 9M22 28#29Demand in Western Europe continued to decline but at a slower rate whereas it showed signs of improvement in Eastern Europe 23% Share in total revenue Western Europe 3Q23 Highlights Arçelik Eastern Europe 16% Share in total revenue y/y market growth in unit terms W. Europe Germany France Great Britain ■8M23 6M23 • MDA6 Market The slowdown in consumer demand in the Western European markets continued in July and August, yet with a slower pace. • Price increases across the industry has been continued in July and August yet with a lower rates given the weakness in demand. In the 8M23, despite price increases, market contracted by mid to low single digit percentage in value terms. • MDA6 Market Cycling quite a low base, consumer demand in Russia continued to grow significantly in both months of July and August. Demand continued to fall in other major countries in Eastern Europe in July-August period y/y on a cumulative basis. Driven by strong Russian market, consumer demand in Eastern Europe was increased by low- teens percentage in July-August period y/y on a cumulative basis. y/y market growth in unit terms ■8M23 6M 23 E. Europe Russia Italy Spain Belgium Austria (20%) (10%) 0% 10% 20% • Arçelik in Western Europe The decline in the number of units sold was partially balanced by price increases; nevertheless, revenue in 3Q23 decreased by approximately a low-single-digit percentage in EUR terms y/y. Arçelik's price index as a group has increased in 8M23 in Western Europe. MDA6 market charts and the market positionings reflect the data of a retail panel market. *Annual growth in 4M23 and excludes Russia. Arçelik in Eastern Europe Despite higher units sold in Eastern Europe and price increases, annual revenue growth was c.2% in EUR terms due to appreciated EUR. (20%) (10%) 0% 10% 20% Poland Romania 29#30Demand in key geographies remained to be weak 9% Share in total revenue Africa & Middle East • Revenues generated from Africa & Middle East increased by c.7% y/y in 3Q23 in EUR terms, mainly driven by strong Middle East operations. Defy's domestic unit sales increased by low-teens percentage third quarter on a yearly basis while export units declined by high single digit percentage. the • • • Defy's net sales increased by c.4% in ZAR terms in 3Q23 y/y. In EUR terms, net sales were contracted at around low-teens percentage, as a result of depreciated ZAR against EUR. Compared to the declining trend in the first and the second quarter of 2023, consumer demand improved in 3Q23 and was flattish compared to a year ago. Defy maintained its strong market leadership as of September 2023. Despite the declining market due to challenging macroeconomic conditions and restrictions on trade, Beko Egypt posted a solid revenue growth of % 54 in EUR terms y/y thanks mainly to increased white goods sales. Compared to the first eight months of 2022, MDA6 market contracted at high-single digit percentage in Egypt. In this period, Beko increased its market share in the country, in both unit and value terms and also its price index. 3Q23 Highlights Arçelik Asia-Pacific • • Revenues from APAC were down by c.31% in EUR terms in 3Q23 y/y. The contraction was primarily as a result of weak demand environment. In Pakistan, net sales increased by c.16% y/y in PKR terms thanks mainly to price increases, despite lower units sold given the unfavourable economic conditions. In EUR terms, net sales were contracted by c.17%, reflecting the depreciation of PKR and contracted sales units. In Bangladesh, net sales were down by c.35% in BDT terms in 3Q23 y/y due to unit contraction in major products such as refrigerator, air conditioner, computer and sewing machine. BDT continued to depreciate against EUR which has led to c.47% y/y lower net sales in EUR terms. 12% Share in total revenue 30#31Summary financials 3Q23 Highlights Arçelik TRYmn Revenue 3Q23 3Q22 yly 2Q23 q/q 9M23 9M22 yly 58.218 34.255 70% 46.948 24% 145.057 94.724 53% Gross Profit 19.077 9.861 93% 14.998 27% 46.491 28.116 65% EBIT 4.844 2.100 131% 3.958 22% 11.495 6.013 91% - EBIT exc. one-off items 5.118 2.046 150% 3.958 29% 11.769 5.930 98% Profit Before Tax 1.354 231 485% 1.126 20% 3.191 1.987 61% Net Income 1.146 495 132% 683 68% 2.988 2.059 45% Net Income exc. one-off items 1.420 441 222% 683 108% 3.262 1.977 65% EBITDA 6.182 2.986 107% 5.047 22% 14.920 8.404 78% EBITDA - exc. one-off items 6.456 2.932 120% 5.047 28% 15.194 8.321 83% Gross Profit Margin 32,8% 28,8% 398 bps 31,9% 82 bps 32,1% 29,7% 237 bps EBIT Margin 8,3% 6,1% 219 bps 8,4% (11 bps) 7,9% 6,3% 158 bps - EBIT Margin exc. one-off items 8,8% 6,0% 282 bps 8,4% 36 bps 8,1% 6,3% 185 bps Net Profit Margin 2,0% 1,4% 52 bps 1,5% 51 bps 2,1% 2,2% (11 bps) Net Profit Margin - exc. one-off items 2,4% 1,3% 115 bps 1,5% 98 bps 2,2% 2,1% 16 bps EBITDA Margin 10,6% 8,7% 190 bps 10,8% (13 bps) 10,3% 8,9% 141 bps EBITDA Margin - exc. one-off items 11,1% 8,6% 253 bps 10,8% 34 bps 10,5% 8,8% 169 bps *EBIT was calculated by deducting the impact of FX gains and losses arising from trade receivables & payables, credit finance income and charges and cash discount expense and adding income & expenses from sale of property plant and equipment. **Net income before minority 31#32Leverage maintained at healthy levels 3Q23 Highlights Arçelik Net Debt & Leverage Debt Currency & Rates Breakdown Currency Effective Interest Rate Original Currency TRY Equivalent p.a. (mn) (mn) TRY 29.4% 13,017 13,017 EUR 5.8% 1,262 36,627 2,70 USD 8.6% 116 3,183 GBP 7.0% 6 205 2,45 2,36 ZAR 9.8% 1,057 1,534 AUD 5.8% 30 529 PKR 23.2% 19,046 1,796 BDT 7.9% 43,731 7,733 1,922 RUB 15.3% 1,791 501 37,465 RON 7.7% 91 527 PLN 8.0% 148 929 NOK 5.9% 5 12 28,411 SEK 5.3% 118 296 CHF 4.0% 0.1 2 IDR 9.5% 89,105 158 MYR 6.0% 31 184 THB 5.5% 382 287 VND 7.2% 44,000 50 CZK 8.8% 145 173 TRYmn 9M22 6M23 9M23 Net Debt Leverage TOTAL LOANS 61,932 USD 8.5% 400 10,941 EUR 3.0% 354 10,263 TRY 14.2% 671 671 TOTAL BOND TOTAL 21,875 83,807 Cash Currency Breakdown TRY39.6bn (EUR1.4bn) Debt Currency Breakdown TRY83.8bn (EUR2.9bn) Debt Maturity Profile TRY83.8bn (EUR2.9bn) 11% 17% USD 11% Other 4% 2029+ Other 17% 15% USD 2028 16% 54% TRY 17% EUR 3% 2027 36% 2023 TRY 16% 2026 24% 56% EUR 2% 2024 2025 32#33EBITDA margin expansion thanks to improved cost environment FCF under pressure due to increased WC and higher CAPEX 4,0% EBITDA Margin 3Q23 Highlights Arçelik Working Capital/Sales 24,4% 8,7% 10,6% (1,8%) (0,3%) 21,0% 22,7% 23,4% 3Q22 Δ Δ Δ 3Q23 2022 1Q23 2Q23 3Q23 Non-cash GP Margin OPEX/Sales Items CAPEX/Sales 5.1% 4.0% 3Q22 3Q23 TRYmn Free Cash Flow 1,729 (2,538) 3Q22 3Q23 33#34Sustainability Investor Presentation Arçelik#35Sustainability as a business model Reputation Competitive edge Sustainability Arçelik Stakeholders Sustainable Finance Empowering Responsible and Sustainable Value Chain Sustainable Innovations & Product Range Improving the lives of people Sustainability Leadership 3 GOOD HEALTH AND WELL-BEING 4 QUALITY EDUCATION 5 GENDER EQUALITY 6 CLEAN WATER AND SANITATION 7 AFFORDABLE AND CLEAN ENERGY 8 DECENT WORK AND ECONOMIC GROWTH M 9 INDUSTRY, INNOVATION AND INFRASTRUCTURE REDUCED 10 INEQUALITIES € 12 RESPONSIBLE CONSUMPTION AND PRODUCTION 13 CLIMATE ACTION 14 LIFE BELOW WATER 17 PARTNERSHIPS FOR THE GOALS 35#36Sustainability Governance Board of Directors Board Level Climate Risk Management Committee Sustainability Council (chaired by CFO) Human Rights Council (chaired by CHRO) ESG Risk Management Sustainability Department Enterprise Risk Department Sustainability Arçelik KH Consumer Durables president is responsible to report ESG issues to BoD Risk Committee Gathers quarterly Gathers quarterly Quantification of risks & presentation to Risk Management Committee Environment Packaging Energy Plastics ESG Working Groups Climate Change OHS Sustainable Supply Chain Green Chemistry Issues reported to Sustainability Council & Human Rights Council 36#37Sustainability as Performance DECARBONIZATION TARGETS DETAILED KPI Sustainability Arçelik INCLUDED IN THE PERFORMANCE EVALUATION SCORECARDS OF... Decreasing Scope 1-2 GHG emissions • Increasing energy and water efficiency in production to decrease Scope 1-2 emissions . • Increasing the share of renewable energy systems' installed capacity for on-site consumption Increasing the waste reduction rate of factories in production CEO, CFO, Chief Technology Officer, Related Factory Executive Directors, Quality, Sustainability and Corporate Affairs Executive Director, related Business Unit Managers, and experts Decreasing Scope B 3 use phase GHG emissions Production and sale of energy efficient appliances aligned with Science Based Targets requirements to decrease Scope 3 emissions in customer use phase CEO, CFO, Chief Technology Officer, Chief Marketing Officer, Related Factory Executive Directors, R&D Executive Director, Quality, Sustainability and Corporate Affairs Executive Director, Product Management Executive Director, related Business Unit Managers, expert employees SUSTAINABLE SUPPLY CHAIN STRATEGY Supply Chain Sustainability Integration • Increasing number of in-house and third-party supplier ethics audits • Increasing number of suppliers reporting their environmental and social data to the Supplier Sustainability Index system • Increasing number of suppliers setting GHG emission reduction targets aligned with Arçelik's requirements & Arçelik's targets set for suppliers • Reducing logistics emissions from transportation to decrease logistics-related Scope 3 emissions CEO, Chief Purchasing & Supply Chain Officer, Purchasing Executive Director, Supply Chain Executive Director, Quality, Sustainability and Corporate Affairs Executive Director, related Business unit managers and experts 37#38Sustainability as Performance TARGETS DETAILED KPI Sustainability INCLUDED IN THE PERFORMANCE EVALUATION SCORECARDS OF... CIRCULARITY ⚫ Recycled plastics- product • Recycled cardboard-packaging • Increasing recycled content in products ⚫ Switching to hybrid and 100% EPS free designs in product packaging CEO, CTO, Related Factory Executive Directors, R&D Executive Director, Quality, Sustainability and Corporate Affairs Executive Director, Product Management Executive Director, related Business Unit Managers, and experts SUSTAINABLE FINANCE HUMAN RIGHTS & DEI & CULTURAL TRANSFORMATION Green financing - Completion of green bond impact and allocation report process- determination of green investments, allocation of the investments to related projects and successful audit results. CFO, Finance Executive Director, Chief Technology Officer, Related Factory Executive Directors, Quality, Sustainability and Corporate Affairs Director, related Business unit managers and experts Sustainable Finance Reporting ⚫ Creating infrastructure for IFRS Sustainability Reporting Standards CFO, Executive Finance Director, Quality, Sustainability and Corporate Affairs Executive Director, related Business unit managers and experts Human Rights DEI Transformation • Seamless execution of human rights roadmap based on defined actions Chief Human Resources Officer, Human Rights Executive Director, related Business unit managers and experts • Seamless execution of DEI roadmap based on defined actions Chief Human Resources Officer, Human Resources Executive Director, related Business unit managers and experts Employee Engagement & Turnover ■ A numerical increase targeted in the employee engagement rate • Enabling a decreasing trend in employee turnover rate CEO, Chief Human Resources Officer, Human Resources Executive Director, related Business unit managers and experts Arçelik 38#39Net Zero Journey Approved Near Term Target Aligned with a well below 2 degree scenario Joint ventures not included in scope & not all MDA included in the scope Base Year 2018 - Target Year 2030 Target Scope 1 Scope 2 Scope 3 } + { 4 } = 30% as of 2030 from 2018 15% as of 2030 from 2018 Coverage, Countries All manufacturing plants Joint ventures not included Coverage, Products MDA 00 not included ZELEN ཟད} Committed Net Zero 2050 Target Aligned with a 1.5-degree scenario All Arçelik production plants including joint ventures & all MDA products included in scope Base Year - 2022 Near Term Target: 2030 Long Term Target: 2050 Reduce Scope 1, 2, 3 emissions 90% as of 2050 from 2022 baseline Invest in permanent carbon removal credits for residual 10% emissions Target Coverage, Countries Coverage, Products 0 Scope 1 All manufacturing plants & joint ventures MDA Scope 2 Scope 3 SDA not included 00 U Sustainability Arçelik Approved SBTs (until 2030) figures in MtCO₂е 35 30 28.6 23.2 25 20 15 10 5 0 2018 2030 90% as of 2050 from 2022 base year (2030% TBC) Commitment to SBTI Net Zero (until 2050) figures in MtCe 35 27 30 25 20 15 10 SDA not included 5 2.6 0 2022 2050 Energy efficiency Sustainable Innovation Net-zero and Compensation 39#40GHG Emissions in 2022 Sustainability Arçelik Scope 3 GHG Emissions in 2022 (tonnes CO₂e) Indirect-Other (Scope 3) (tonnes CO₂e) Scope 1 and Scope 2 GHG Emissions* (tonnes CO₂e) 2019 81,550 52,950 Purchased goods and 3,571,364 services 2020 71,379 43,261 Upstream transportation and distribution (raw material 72,124 and components) 2021 84,014 46,383 Business travel 3,020 2022 69,797 47,285 TARGETS BY 2030 ↓30% ↓↓15% BY 2050 ↓90% Employee commuting 67,788 SCOPE 1 SCOPE 2 Waste generated in operations 5,501 Total Scope 1&2&3 GHG Emissions 27,067,100 tonnes CO₂e Scope 1-2 emissions Scope 3 Emissions (Use of sold products) from 2018 baseline To committed to reaching net-zero emissions from 2022 baseline 2022: Downstream transportation and distribution of products 122,661 28% 19% Use phase of sold products 23,086,153 End of life of sold products 19,825 Others-upstream Others-downstream 26 1,556 Total Scope 3 26,950,018 * Data covers all manufacturing plants in Turkey, Romania, Russia, South Africa, Thailand, Pakistan and Bangladesh. IHP Appliances JSC Refrigerator and Washing Machine Plant, Joint ventures, and subsidiaries are not included. 40#41We have set all targets for 2030 to reduce our environmental footprint 50 MW Establish renewable energy systems +45% Energy consumption per product in manufacturing $50M Additional investment in renewable energy and energy efficiency (LOI) +40% Recycled plastic content in products [] INDEX +45% Water withdrawal per product in manufacturing Sustainability +99% Waste recovery rate in manufacturing +5% Bio based material content in products Arçelik ISO 50001 Implement the ISO 50001 Energy Management Systems across all our production facilities ев 100% Electricity from renewable sources in manufacturing where market allows +70% Water recycling and reuse ratio in manufacturing 41#42We have set our 2030 Targets for being a progressive global citizen Sustainability Arçelik 35 hours Training hours per employee 135% Ratio of women in the total workforce ↑32% Ratio of women in top management positions ISO 50001 Ensure suppliers* exceeding 500 ToE obtain the ISO 50001 certificate 5000 Supplier employees that receive OHS trainings 100% Collect, monitor and disclose environmental data of suppliers* by 2025 100% Compliance of critical suppliers with Conflict Minerals Policy by 2023 ISO 14001 Ensure our suppliers* apply for ISO 14001 certification by 2023 *Approximately 90% of our purchasing volume 42#43We have set all targets for 2030 to respond to the needs of society Sustainability Arçelik 241.3M People* Raise awareness on healthy living 265.3M ☑People* Raise awareness on food waste 1,810 Tons Food Save food from being wasted --- Hero Brands Support the needs of local communities in Türkiye, Romania, S.Africa, and Pakistan 15M People*** Raise awareness on climate change and eco-friendly living by 2025 100K Girls** Provide STEM Training by 2026 125%** Increase the ratio of women dealers by 2026 2500 Women** Reach 2500 women through entrepreneurship programs by 2026 8 8M $** 14%** Ꮎ Total fund amount transferred in 2022 within the scope of the target that aims to contribute to fund transfers for women- led startups every year Increase the ratio of women technicians by 2026 *Total reach numbers consist of unique people **Included in the Action Coalition commitments ***Total reach numbers do not reflect number of unique people 43#44Sustainability achievements Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA CDP DRIVING SUSTAINABLE ECONOMIES The Voice for Clean Capitalism Corporate Knights RealLeaders MSCI Sustainability Arçelik FTSE4Good Bloomberg Gender-Equality Index 2023 Member Included since 2017 and having 85/100 which is the highest score in the industry 2022 A-in Climate Change and A in Water Programs 2022 Global 100 Index, 89th 2022 Top 300 Impact Companies, 16th 2022 AAA on the Sustainability Index since 2016 In the FTSE4Good Emerging Market Index since 2016 Bloomberg Gender Equality (GEI), higher score than the average of 485 companies SUSTAINALYTICS a Morningstar company RATED V.E ISS ESG‣ GOLD 2023 ecovadis Sustainability. Rating 11.6 (Low risk) July, 2023 50/100 2022 Rated as 'Prime' Since 2020 S&P Global REFINITIV Top 1% S&P Global ESG Score Score higher than 70/100 Gold Medal In the top 5% of companies assessed 2022 S&P Gold Class Award Sustainability Yearbook 2023 WORLD ECONOMIC FORUM #1 in the Household Goods sector Global Lighthouse Network list: . Arçelik Eskişehir 4.0 2022 • Refrigerator Factory in Turkey in 2021 Arctic 4.0 Washing Machine Factory in Romania in 2018 Sustainability Lighthouse recognition for Arctic 4.0 Washing Machine Factory 44#45As a financing tool with better terms Greenbond - May 2021 EUR350mn EUR 1.6bn Amount Issued Demand Use of Proceeds • Energy Efficient Products . Sustainability Arçelik Eco-efficient and/or Circular Economy Adapted Products • Energy Efficiency in Production 5 Years 145 Maturity # of investors 3.0% 1 st Green Buildings Renewable Energy Sustainable Water and Wastewater Management Interest p.a. Of its kind Pollution Prevention and Control 45#46Guidance Investor Presentation Arçelik#472022 Guidance € Revenue Guidance Arçelik Actual • ⚫ Turkey (in TRY) >70% growth 96% growth • International (in FX) >20% growth 18% growth • Consolidated (in TRY) >90% growth 96% growth EBITDA Margin WC/Sales c.9.5% c.25% 9.0% 21.0% CAPEX c.260 mio EUR c.220 mio EUR 47#482023 Guidance € • Revenue ⚫ Turkey (in TRY) c.75% growth • International (in FX) c. (-) 4% o EBITDA Margin c.10.5% WC/Sales <25% CAPEX c.300 mio EUR Guidance Arçelik 48#49Appendix Q Investor Presentation Arçelik#50Dividend policy 48% 59% 68% 2010 2011 2012 50% 57% 2013 33% 29% 2014 2015 2016 Appendix Arçelik 52% 52% 48% 42% 41% 2010-2022 Average - 0% 0% 2017 2018 2019 2020 2021 2022 • • Arçelik conducts a dividend policy within the framework of the provisions of the Turkish Commercial Code, Capital Markets Legislation, Tax Regulation, other relevant legislation and the provisions of the Articles of Association governing the distribution of profits. A balanced and consistent policy incorporating shareholders' and Company requirements in line with Corporate Governance Principles is followed. In principle, subject to be covered by the resources existing in legal records, by taking into consideration market expectations, long-term strategy, investment and financing policies, profitability and cash position, other legislation, and financial conditions, minimum 50% of the distributable profit for the period calculated within the framework of the Capital Markets Legislation is distributed in the form of cash or stock. • The dividend distribution date is determined by General Assembly and targeted to be within one month after General Assembly Meeting date. General Assembly, or if authorised Board of Directors, could decide to pay dividend in installments within the framework of Capital Markets Legislation. • According to Company's Articles of Association, Board of Directors can distribute advance dividend with the condition of being authorised and compliant with Capital Markets Legislation *Divinded distribution decision has been taken at AGM dated 16 March 2023 and the payment will be made on 25 September 2023. 50#51Summary financials Appendix TRYmn Revenue 2017 2018 20.841 2019 26.904 31.942 2020 2021 34.255 68.184 133.916 2022 Gross Profit 6.506 8.546 10.215 9.861 20.478 39.493 EBIT 1.406 2.107 2.296 2.100 5.360 8.676 EBIT exc. one-off items 1.406 2.107 2.296 2.046 5.068 8.593 Profit Before Tax 821 949 1.114 231 3.623 4.218 Net Income 845 856 925 495 3.251 4.723 Net Income - exc. one-off items 845 856 925 441 2.959 3.242 EBITDA 1.954 2.797 3.351 2.986 7.206 11.986 EBITDA exc. one-off items 1.954 2.797 3.351 2.932 6.914 11.903 Gross Profit Margin 31,2% 31,8% 32,0% 28,8% 30,0% 29,5% EBIT Margin 6,7% 7,8% 7,2% 6,1% 7,9% 6,5% " - EBIT Margin exc. one-off items 6.7% 7,8% 7,2% 6.0% 7,4% 6,4% Net Profit Margin 4,1% 3,2% 2,9% 1,4% 4,8% 3,5% Net Profit Margin - exc. one-off items 4,1% 3,2% 2,9% 1,3% 4,3% 2,4% EBITDA Margin 9,4% 10,4% 10,5% 8,7% 10,6% 9.0% ' - EBITDA Margin exc. one-off items 9,4% 10,4% 10,5% 8,6% 10,1% 8,9% *EBIT was calculated by deducting the impact of FX gains and losses arising from trade receivables & payables, credit finance income and charges and cash discount expense and adding income & expenses from sale of property plant and equipment. **Net income before minority Arçelik 51#52Revenue and COGS Structure Revenue Breakdown by Currency COGS Breakdown by Currency 33% 30% 20% 12% 16% 51% 17% 21% Appendix Arçelik Breakdown of Raw Material Cost 3% 3% 50% 44% TRY EUR USD Other TRY EUR USD Other Metal Sheet Plastics Aluminium Copper Datas as of 2022 year-end. 52#53Declining trend in raw material prices have been continued 3Q23 2Q23 1Q23 2022 Average Metal Prices Index - Market 99 105 4Q22 102 3Q22 2Q22 1Q22 111 110 3Q23 2Q23 1Q23 122 2022 136 141 Metal raw material prices have contracted on both quarterly and yearly basis mainly due to declined global demand, increased policy rates and decreased energy & input costs. Source: Steel BB, Steel Orbis Index includes: CRC, HRC, Galvanized Steel, Stainless Steel, Copper, Aluminium 4Q22 3Q22 2Q22 1Q22 Appendix Average Plastic Prices Index - Market 141 147 154 156 175 176 175 Arçelik 195 • Plastic raw material prices declined on both quarterly and yearly basis in 3Q23 as a result of lower demand and decreased energy and transportation costs. Source: ICIS - Chemical Industry News & Chemical Market Intelligence Index includes: ABS, Polystyrene, Polyurethane, Polypropylene 53#54Resilient revenue composition through diversification Sales Bridge 45.3% y/y Appendix Sales Breakdown by Geography 2Q23 13% 5.133 3% 15% 8.662 22.7% yly ↑ 6.7% 3% 30% yly 28,550 2% 3% 39% ↑ 89.0% 3.0% yly 5% 4% yly 3% 2Q22 22,568 6% 18,398 14% 13% 24% TRYM 9,737 2Q22 TR Organic INT Organic INT FX Impact Acquisition 2Q23 Impact International Türkiye 22% Arçelik Türkiye Western Europe CIS & Eastern Europe Africa Middle East Pakistan Bangladesh Other 54#55Margins by segments 29,6% White Goods 32,3% 29,6% Consolidated 31,9% 31,1% 46.948 39.891 32.305 2Q22 1Q23 2Q23 Revenue Gross Margin 33,0% 27,5% 35.091 30.785 24.616 1.888 Consumer Electronics 23,4% 20,0% Appendix Arçelik Other 30,5% 30,8% 30,6% 6.151 2.956 2.796 5.800 9.061 2Q22 1Q23 2Q23 2Q22 1Q23 2Q23 2Q22 1Q23 2Q23 Revenue Gross Margin Revenue Gross Margin Revenue Gross Margin 55#56Close watch on FX risk, proactively taken actions Appendix Arçelik -1,2% 3,9% -1,2% -1,2% 0,7% -0,5% 0,3% 0,3% EUR -1,7% བ་ཀྱི་ས་གླང་ས་ཚང་“ད -5,1% -3,6% -2,9,4% -3,2% -2,6% -4,1% -6,6% 2,9% 1,7% 2,9% TRYM Before Hedge Hedged Position Net Position (17,162) 14,615 (2,546) USD (13,902) 12,369 (1,534) GBP 2,002 (1,754) 247 -6,5% Other (961) (243) (1,204) -13,0% -14,0% TOTAL (30,023) 24,986 (5,037) 18 Q1 18 Q2 18 Q3 18 Q4 19 Q1 o83$ 83*688 Net FX Position / Equity (14.0%) 21 Net FX Position Net FX/Equity . . FX hedging a strictly pursued policy in Arçelik since more than 30 currencies are actively managed in global operations. It is a KPI for the company management not to have a FX exposure exceeding low single-digit % of equity. The primary strategy on balance sheet hedging mainly through cash, receivables, payables and financial liabilities, and the remaining part is hedged through financial derivatives. 56#57Awards & Achievements Ірм il- European O Business ○ Awards™ +X PLUS X AWARD ausgezeichnet für: High Quality CES INNOVATION AWARDS 2017 HONOREE MediaCat Lovemarks IN VA LIG inovasyon Liderleri GREEN Germany Appendix Arçelik reddot design award BRAND CDP A LIST 2016 CLIMATE 2015/2016 GOOD DESIGN GERMAN DESIGN AWARD 57#58Contacts Appendix Arçelik Özkan Çimen CFO (+90) 212 314 39 01 Mine Şule Yazgan Finance & Enterprise Risk Executive Director (+90) 212 314 30 60 Investor Relations App Öktem Söylemez Investor Relations Senior Lead (+90) 212 705 96 81 Available on the App Store GET IT ON Google Play www.arcelikglobal.com [email protected] 58#59Disclaimer Appendix Arçelik This presentation contains information and analysis on financial statements as well as forward-looking statements that reflect the Company management's current views with respect to certain future events. Although it is believed that the information and analysis are correct and expectations reflected in these statements are reasonable, they may be affected by a variety of variables and changes in underlying assumptions that could cause actual results to differ materially. Neither Arçelik nor any of its managers or employees nor any other person shall have any liability whatsoever for any loss arising from the use of this presentation. 59#60Кос Sensitivity: Public GRUNDIG Thank You! Arcelik