#1marti marti TURKEY'S LEADING MOBILITY APP Q3 2022 INVESTOR PRESENTATION marti morti marti#2Disclaimers About this Presentation This confidential presentation (this "Presentation") is for informational purposes only to assist interested parties in making their own evaluation with respect to an investment in connection with a possible transaction (the "Business Combination") involving Marti Technologies Inc. ("Marti" or the "Company") and Galata Acquisition Corp. ("Galata" or "SPAC"), and for no other purpose. The information contained herein does not purport to be all-inclusive and none of Galata, the Company or their respective representatives or affiliates makes any representation or warranty, express or implied, as to the accuracy, completeness or reliability of the information contained in this Presentation. This Presentation and any oral statements made in connection with this Presentation do not constitute (i) a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Business Combination or (ii) an offer to sell, a solicitation of an offer to buy or a recommendation to purchase any securities. No such offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended (the "Securities Act"), or an exemption. therefrom. You should not construe the contents of this Presentation as legal, tax, accounting, investment or other advice or a recommendation. You should consult your own counsel and tax and financial advisors as to legal and related matters concerning the matters described herein, and, by accepting this Presentation, you confirm that you are not relying upon the information contained herein to make any decision. The distribution of this Presentation may also be restricted by law and persons into whose possession this Presentation comes should inform themselves about, and observe, any such restrictions. The recipient acknowledges that it is (a) aware that the United States securities laws prohibit any person who has material, non-public information concerning a company from purchasing or selling securities of such company or from communicating such information to any other person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell such securities, and (b) familiar with the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder (collectively, the "Exchange Act"), and that the recipient will neither use, nor cause any third party to use, this Presentation or any information contained herein in contravention of the Exchange Act, including, without limitation, Rule 10b-5 thereunder. This Presentation and information contained herein constitutes confidential information and is provided to you on the condition that you agree that you will hold it in strict confidence and not reproduce, disclose, forward or distribute it in whole or in part without the prior written consent of SPAC and the Company and is intended for the recipient hereof only. By accepting this Presentation, the recipient agrees (a) to maintain the confidentiality of all information that is contained in this Presentation and not already in the public domain and (b) to return or destroy all copies of this Presentation or portions thereof in its possession upon request. This Presentation is being distributed to selected recipients only and is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. Neither this Presentation nor any part of it may be taken or transmitted into the United States or published, released, disclosed or distributed, directly or indirectly, in the United States, as that term is defined in the Securities Act, except to a limited number of qualified institutional buyers, as defined in Rule 144A under the Securities Act, or institutional "accredited investors" within the meaning of Regulation D under the Securities Act. Important Additional Information and Where to Find It In connection with the proposed Business Combination, Galata and Marti intend to file a registration statement on Form F-4 (the "Registration Statement") with the U.S. Securities and Exchange Commission ("SEC"), which will include a proxy statement/prospectus and certain other related documents. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS, ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION CAREFULLY AND IN THEIR ENTIRETY, WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT GALATA, MARTI AND THE PROPOSED BUSINESS COMBINATION. When available, the definitive proxy statement/prospectus and other relevant materials for the proposed Business Combination will be mailed to stockholders of Galata as of a record date to be established for voting on the proposed Business Combination. Security holders and investors will also be able to obtain copies of the Registration Statement, proxy statement/prospectus and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC's website at www.sec.gov. Documents filed with the SEC by Galata will also be available free of charge by accessing Galata's website at https://www.galatacorp.net, or, alternatively, by directing a request by mail to Galata at 2001 S Street NW, Suite 320, Washington, DC 20009. Participants in the Solicitation Galata and Marti and certain of their respective directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies with respect to the proposed Business Combination under the rules of the SEC. Information about Galata's directors and executive officers is contained in Galata's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as filed with the SEC pursuant to Section 13 of the Exchange Act, as amended, on March 31, 2022, which is available free of charge at the SEC's website at www.sec.gov or by directing a request to Galata at 2001 S Street NW, Suite 320, Washington, DC 20009. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed Business Combination when they become available. Investors should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above. 2#3Disclaimers (cont'd) Cautionary Statement Regarding Forward-Looking Information This Presentation contains statements that are not based on historical fact and are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. For example, statements about the expected timing of the completion of the Business Combination, the benefits of the Business Combination, the competitive environment, and the expected future performance and market opportunities of Marti are forward-looking statements. In some cases, you can identify forward looking statements by terminology such as, or which contain the words "will," "aim," "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "future," "intend," "may," "plan," "possible," "predict," "project," "seek," "should," "target," "will," "would" and variations of these words or similar expressions. Such forward-looking statements are subject to risks, uncertainties and other factors. Actual results may differ materially from the expectations expressed or implied in the forward-looking statements as a result of known and unknown risks and uncertainties. These forward-looking statements are based on estimates and assumptions that, while considered reasonable by Galata and its management and Marti and its management, as the case may be, are inherently uncertain and are subject to a number of risks and assumptions. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond Galata's and Marti's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Known risks and uncertainties include but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination agreement; (2) the outcome of any legal proceedings that may be instituted against Marti, Galata, the combined company or others following the announcement of the proposed Business Combination; (3) the inability to complete the proposed Business Combination in a timely manner or at all (including due to the failure to obtain approval of the stockholders of Galata or to satisfy other conditions to closing); (4) changes to the proposed structure of the proposed Business Combination that may be required or appropriate as a result of applicable laws or regulations; (5) the ability to meet applicable stock exchange listing standards at or following the consummation of the proposed Business Combination; (6) the risk that the proposed Business Combination disrupts current plans and operations of Marti as a result of the announcement and consummation of the proposed Business Combination; (7) the ability to recognize the anticipated benefits of the proposed Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the proposed Business Combination, including the amount of cash available following any redemptions by Galata stockholders; (9) changes in applicable laws or regulations; (10) the possibility that Marti or the combined company may be adversely affected by other economic, business and/or competitive factors; (11) risks relating to Marti's operating history and the mobile transportation industry; (12) risks associated with doing business in an emerging market; (13) risks relating to Marti's dependence on and use of certain intellectual property and technology; and (14) other risks and uncertainties set forth in the Registration Statement to be filed by Galata with the SEC in connection with the proposed Business Combination. The foregoing list of important factors is not exhaustive and you should carefully consider the other risks and uncertainties described in the "Risk Factors" section of Galata's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed by Galata from time to time with the SEC. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as may be required by applicable law, neither Marti nor Galata undertakes any duty to update or revise any forward-looking statements whether as a result of new information, new events, future events or circumstances, or otherwise. Use of Projections This Presentation contains financial forecasts for the Company with respect to certain financial results for the Company's fiscal years 2022 through 2023. The Company's independent auditors have not audited, studied, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Presentation, and accordingly, they did not express an opinion or provide any other form of assurance with respect thereto for the purpose of this Presentation. These projections are forward-looking statements and should not be relied upon as being necessarily indicative of future results. In this Presentation, certain of the above-mentioned projected information has been provided for purposes of providing comparisons with historical data. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of the Company or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this Presentation should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved. The performance projections and estimates are subject to the ongoing COVID-19 pandemic and have the potential to be revised to take into account further adverse effects of the COVID-19 pandemic on the future performance of SPAC and Marti. Projected financial results and estimates are based on an assumption that public health, economic, market and other conditions will improve; however, there can be no assurance that such conditions will improve within the time period or to the extent estimated by SPAC or Marti. The full impact of the COVID-19 pandemic on future performance is particularly uncertain and difficult to predict; therefore actual results may vary materially and adversely from the projections included herein. 3#4Disclaimers (cont'd) Financial Information; Non-GAAP Measures The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X promulgated under the Securities Act. Such information and data may not be included in, may be adjusted in or may be presented differently in, the registration statement on Form F-4 to be filed relating to the Business Combination and the proxy statement/prospectus contained therein. This Presentation also includes certain financial measures not presented in accordance with generally accepted accounting principles of the United States ("GAAP") including, but not limited to, Adjusted EBITDA and certain ratios and other metrics derived therefrom. The Company defines Adjusted EBITDA as net income (loss) plus non-operating income (loss), depreciation and amortization, net interest expense, income taxes, stock-based compensation and transaction costs. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Company's financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that the Company's presentation of these measures may not be comparable to similarly-titled measures used by other companies. The Company believes these non-GAAP measures of financial results provide useful information for management and investors regarding certain financial and business trends relating to the Company's financial condition and results of operations. The Company believes the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. This Presentation also includes certain projections of non-GAAP financial measures. Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, the Company is unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included and no reconciliation of the forward-looking non-GAAP financial measures is included. Industry and Market Data In this Presentation, SPAC and the Company rely on and refer to certain information and statistics obtained from third-party sources which SPAC and the Company believe to be reliable. While SPAC and the Company believe such third-party information is reliable, there can be no assurance as to the accuracy or completeness of the indicated information, and the Company has not independently verified the accuracy or completeness of any such information. Trademarks This Presentation contains trademarks, service marks, trade names and copyrights of other companies, which are the property of their respective owners. The Company's use thereof does not imply an affiliation with, or endorsement by, the owners of such trademarks, service marks, trade names and copyrights. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this Presentation may be listed without the TM, SM O or Ⓡ symbols, but the Company will assert, to the fullest extent under applicable law, the rights of the applicable owners to these trademarks, service marks, trade names and copyrights. There is no guarantee that either SPAC or the Company will work, or continue to work, with any of the firms or businesses whose logos are included herein in the future. 4#5Q2 2021 vs. Q2 2022 results Q2 2021 Q2 2022 A Comments Average Daily Vehicles Deployed 18,685 29,260 57% ↑ ~1.5X growth in fleet size, including new modalities. Average Daily Rides per Vehicle 2.50 2.97 19% ↑ Positive impact of shift from partial COVID curfew in Q2 2021 to no curfew in Q2 2022. Average Net Revenue per Ride (USD) 1.08 0.90 (17)% Increase in share of commute relative to leisure rides reduced average ride durations by ~20%. Net Revenue (USD, thousands) 4,593 7,122 55% Operating Costs, excl. D&A (2,487) (3,795) 53% Lower incidence of repairs due to more reliable vehicles. (USD, thousands) % of Net Revenue G&A (USD, thousands) 54% 53% (1,292) (2,035) 58% ↓ Fixed costs as percentage of net revenue are similar as a result of new teams for new modalities, and listing-related expenses in Q2 2022. % of Net Revenue 28% 29% Adj. EBITDA (USD, thousands) 1 883 1,384 57% Adj. EBITDA Margin 19% 19% Source: Company information. Note: The interim financials are non-GAAP management reporting financials and have not been audited or reviewed by the Company's independent auditors. 1. Adjusted EBITDA: The Company defines Adjusted EBITDA as net income (loss) plus non-operating income (loss), depreciation and amortization, net interest expense, income taxes, stock-based compensation and transaction costs. 5#6Q3 2021 vs. Q3 2022 results Q3 2021 Q3 2022 A Comments Average Daily Vehicles Deployed 17,877 36,176 102% ~2X growth in fleet size, including new modalities. Average Daily Rides per Vehicle 4.32 3.11 (28)% ↓Q3 2021 figures reflect temporary increase in demand following the end of COVID curfew in Q2 2021. Average Net Revenue per Ride (USD) 1.02 0.87 (16)% Increase in share of commute relative to leisure rides reduced average ride durations by ~20%. Net Revenue (USD, thousands) 7,263 8,943 23% Operating Costs, excl. D&A (USD, thousands) % of Net Revenue (3,009) (4,778) 59% Revised field operation vehicle rates and increased cost of fuel. Expiration of cloud server credit. 41% 53% G&A (USD, thousands) % of Net Revenue (1,966) (2,804) 43% ↓ Additions to senior management team and increased advisory expenses prior to listing. 27% 31% Adj. EBITDA (USD, thousands) 1 2,373 1,483 (38)% Adj. EBITDA Margin 33% 17% Source: Company information. Note: The interim financials are non-GAAP management reporting financials and have not been audited or reviewed by the Company's independent auditors. 1. Adjusted EBITDA: The Company defines Adjusted EBITDA as net income (loss) plus non-operating income (loss), depreciation and amortization, net interest expense, income taxes, stock-based compensation and transaction costs. 6#72021 YTD vs. 2022 YTD1 results 2021 YTD 2022 YTD Δ Comments Average Daily Vehicles Deployed 16,278 31,290 92% ~2X growth in fleet size, including new modalities. Average Daily Rides per Vehicle 2.90 2.54 (12)% ✓ Impact of competition on share of total market rides. Average Net Revenue per Ride (USD) 1.05 0.87 (17)% Increase in share of commute relative to leisure rides reduced average ride durations. Net Revenue (USD, thousands) Operating Costs, excl. D&A (USD, thousands) % of Net Revenue 13,555 18,819 39% (7,243) (11,675) 61% Distinct teams for each modality have yet to be consolidated. Semiannual increase in minimum wage in January and July precedes price increases. 53% 62% G&A (USD, thousands) (4,597) (6,676) 45% ↓ Economies of scale in team costs offset by prelisting advisory expenses. % of Net Revenue 34% 35% Adj. EBITDA (USD, thousands) 2 1,929 764 (61)% Adj. EBITDA Margin 14% 4% Source: Company information. Note: The interim financials are non-GAAP management reporting financials and have not been audited or reviewed by the Company's independent auditors. 1. As of September 30. 2. Adjusted EBITDA: The Company defines Adjusted EBITDA as net income (loss) plus non- operating income (loss), depreciation and amortization, net interest expense, income taxes, stock-based compensation and transaction costs. 7#8Increase in share of commute relative to leisure rides reduced average ride durations¹ Average ride duration (min) 12 11 10 11.4 9 88% 10.6 94% 90% 9.3 8 Q2'21 Q3'21 Q4'21 95% 8.5 Q1'22 -Average ride duration (min) -Share of commute rides 93% 9.1 Share of commute rides² 97% 95% 93% 92% 91% 89% 87% 8.5 85% Q2'22 Q3'22 Source: Company estimate 1. Analysis is conducted for rides in Istanbul, which account for the majority of our rides. 2. Share of commute rides is the sum of daily commute and first and last mile commute. (i) first and last mile: rides that start or end within a 100m radius of metro, metrobus, marmaray or ferry stops; (ii) leisure: rides with more than 10 times difference between the total ride distance and the air distance (bird's eye view) from start to end points of ride; (iii) commute: all remaining rides. 8#9Business plan projections vs Actual Q2 2022 Q2 2022 E Q2 2022 A A Comments Average Daily Vehicles Deployed 36,861 29,260 (21)% Shipping, customs and vehicle registration driven delays in deployment of new vehicles. Average Daily Rides per Vehicle 2.17 2.97 37% ↑ Increased vehicle availability and strong demand for new vehicles. Average Net Revenue per Ride (USD) 0.91 0.90 (1)% ↓ Effect of Turkish Lira devaluation, offset by price increases. Net Revenue (USD, thousands) Operating Costs, excl. D&A (USD, thousands) % of Net Revenue G&A (USD, thousands) % of Net Revenue 6,596 7,122 8% (4,618) (3,795) (18) % ↑ Lower operational costs despite inflationary pressures. 70% 53% (2,450) (2,035) (17)% ↑ Lower advisory expenses. 37% 29% Adj. EBITDA (USD, thousands) 1 (670) 1,384 307% Adj. EBITDA Margin (10)% 19% Source: Company information Note: The interim financials are non-GAAP management reporting financials and have not been audited or reviewed by the Company's independent auditors. 1. Adjusted EBITDA: The Company defines Adjusted EBITDA as net income (loss) plus non-operating income (loss), depreciation and amortization, net interest expense, income taxes, stock-based compensation and transaction costs. 9#10Business plan projections vs Actual Q3 2022 Q3 2022 E Q3 2022 A Δ Comments Average Daily Vehicles Deployed 30,692 36,176 18% ↑ E-bike deployment completed ahead of schedule. Average Daily Rides per Vehicle 3.53 3.10 (12)% ↓ New modality launches in new cities, following Istanbul. Average Net Revenue per Ride (USD) 0.90 0.87 (3)% Effect of Turkish Lira devaluation, offset by price increases. Net Revenue (USD, thousands) 8,937 8,943 0% Operating Costs, excl. D&A (USD, thousands) % of Net Revenue (4,064) (4,778) 18% Price increase in mid-September trails wage increase in July. Distinct teams for each modality have yet to be consolidated. 45% 53% G&A (USD, thousands) (2,427) (2,804) 16% ↓ Additions to senior management team and increased advisory expenses prior to listing. % of Net Revenue 27% 31% 1 Adj. EBITDA (USD, thousands) 2,538 1,483 (42)% Adj. EBITDA Margin 28% 17% Source: Company information Note: The interim financials are non-GAAP management reporting financials and have not been audited or reviewed by the Company's independent auditors. 1. Adjusted EBITDA: The Company defines Adjusted EBITDA as net income (loss) plus non-operating income (loss), depreciation and amortization, net interest expense, income taxes, stock-based compensation and transaction costs. 10#11Business plan projections vs Actual 2022 YTD1 2022 YTD E 2022 YTD A A Comments Average Daily Vehicles Deployed 34,865 31,290 (10)% ↓Shipping, customs and vehicle registration driven delays in deployment of new vehicles. Average Daily Rides per Vehicle 2.26 2.53 12% Higher share of total market rides than forecast. Average Net Revenue per Ride (USD) 0.91 0.87 (4)% Effect of Turkish Lira devaluation, offset by price increases. Net Revenue (USD, thousands) 19,621 18,819 (4)% Operating Costs, excl. D&A (USD, thousands) % of Net Revenue (13,219) (11,675) (12)% More efficient scaling of field operations and repair and maintenance teams by modality relative to plan. 67% 62% G&A (USD, thousands) (8,529) (6,676) (22)% ↑ Delays in prelisting advisory expenses. % of Net Revenue 43% 35% Adj. EBITDA (USD, thousands) 2 (2,620) 764 443% Adj. EBITDA Margin (13)% 4% Source: Company information Note: The interim financials are non-GAAP management reporting financials and have not been audited or reviewed by the Company's independent auditors. 1. As of September 30. 2. Adjusted EBITDA: The Company defines Adjusted EBITDA as net income (loss) plus non-operating income (loss), depreciation and amortization, net interest expense, income taxes, stock-based compensation and transaction costs. 11#12Price increase in excess of currency devaluation is followed by competitors Currency devaluation of ~39% 2022 YTD...1 USD/TRY Index (Jun 30 = 100) 150 140 130 120 110 110 100 100 Dec'21 Mar'22 125 Jun'22 ...is reflected in pricing via increases led by Marti and followed by the market 2 Price of 10 min. scooter ride (TRY) 23 21 139 Sept❜22 19 17 15 13 11 Q4'21 Q1'22 Q2'22 Q3'22 Marti 47% Comp. 1 40% Comp. 2 5% Comp. 3 59% Source: Company information; and from publicly available information from, in the view of Management, certain competitor's application in the Turkish shared mobility market. 1. Central Bank of the Republic of Turkey forex selling exchange rates of the last business day of the specified month: https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Statistics/Exchange+Rates/Indicative+Exchange+Rates. 2. Istanbul scooter prices are compared in analysis. 12#13Marti is scaling with the goal of becoming Turkey's mobility superapp Single country focus Greater vehicle Source: Company information. availability Lower price Faster vehicle expansion Rider preference Lower depreciation Better vehicles with longer useful life Increased demand/ volumes Better margins and cash position Lower operating cost Vertical integration 13#14We grew our operations and continued to hire key team members in Q3 2022 20 Total fleet (thousands) 43 99 Operational developments Assembled and deployed over 4,000 new vehicles. Started E-bike operations in Çeşme, Isparta, and Kocaeli. . Operations paused in some cities and vehicles reallocated to improve efficiency. • Monthly theft and vandalism rate remains below 0.1% of fleet. . 128 2021 Q3 2022 Q3 2023 E 2023 FD Human capital developments 194 person HQ team and 950 field team members, as of end of Q3 2022. Hired 68 new employees at HQ, including department heads for our Vehicles team and Investor Relations. Other developments Turkish Competition Authority initiated an investigation into claims of unfair competition due to Marti's dominant market position. The investigation was concluded without any monetary penalty. Source: Company information. 1. FD refers to Fully Deployed figures that Marti would be expected to achieve in 2023 if only the proceeds from the ~$57.5 million in convertible note PIPE commitments plus assumed incremental PIPE commitments of up to ~$92.5 million to be raised post- announcement were to be deployed towards purchasing E-Scooters, E-Mopeds and E-Bikes immediately upon receipt. 14#15Commute ridership increases as modalities gain longevity and availability in the field Commute rides account for ~92% of rides Daily commute First and last mile commute 32% 60% 60 60 50 40 Customer retention continues to increase with increased availability 3.5 3.2 3.2 3.1 2.8 30 20 Leisure 8% 10 3.3 3.7 0 Q1'20 Q2'20 % of leisure was ~8% in Q3 2022¹ 7.7 12.2 8.8 4.0 18.7 4.2 3.7 18.7 17.9 3.2 5 4.7 4 4.0 36.2 3 29.3 28.4 2 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 -Avg. daily vehicles deployed (thousands) Avg. monthly rides per unique rider Source: Company information. 1. Analysis conducted for Q3 2022 for Istanbul rides. Definition of journeys: (i) first and last mile: rides that start or end within a 100m radius of metro, metrobus, marmaray or ferry stops; (ii) leisure: rides with more than 10 times difference between the total ride distance and the air distance (bird's eye view) from start to end points of ride; (iii) daily commute: all remaining rides; (iv) commute rides is the sum of daily commute and first and last mile commute rides. 1 0 15#16New modalities drive multi-modal ridership, increasing spending per rider E-bike rider behavior mart 75% % of E-bike riders that have previously used another Marti modality 42% % of E-bike riders that have used 2+ modalities E-moped rider behavior marti 88% % of E-moped riders that have previously used another Marti modality 65% % of E-moped riders that have used 2+ modalities Multimodal riders ride and spend significantly more than single modality riders¹ 3.6x Rides per rider 3.6x Revenue per rider Single modality riders 2+ modality riders Source: Company information. Note: 2+ modalities include the combinations of scooter + E-moped, E-scooter + E-bike, E-bike + E-moped, and E-scooter + E-bike + E-moped. 1. Customers with more than 1 ride included in analysis. Q3 2022 rides and revenues are analyzed. 16#17Adjusted EBITDA reconciliations (USD, thousands) Q2 2021 Q2 2022 Q3 2021 Q3 2022 2021 YTD 2022 YTD Gross Profit (post-depreciation) 989 1,113 2,405 1,230 2,969 957 Fleet depreciation 1,117 2,214 1,849 2,935 3,343 6,186 Gross Profit (pre-depreciation) 2,107 3,327 4,254 4,165 6,312 7,143 Selling and marketing expenses (39) (172) (415) (251) (506) (494) General and administration expenses (1,199) (1,857) (1,537) (2,541) (3,563) (5,539) Research and development expenses Depreciation and amortization expenses (54) (6) (14) (12) (99) (50) 68 92 85 122 214 297 Adj. EBITDA 883 1,384 2,373 1,483 1,929 764 Source: Company information. Note: The interim financials are non-GAAP management reporting financials and have not been audited or reviewed by the Company's independent auditors. 17#18Q&A marti marti