H1 2019 Results

Gasoline and High Sulphur Fuel Oil Cracks ($/bbl) 20 18.6 15 Gasoline 14.7 14.4 -2016 2017 2018 2019 13.0 13.1 12.1 13.5 12.0 12.1 13.4 11.9 10.6 12.0 10.4* 10.2 10.0 10 9.0 50 0 2.9 1.7 9.6 9.4 0 -5 -7.0 -5.0 -5.5 High Sulphur Fuel Oil -3.7 -6.9 -8.6 -8.5 -6.8 -9.1 -8.3 -9.8 -11.9 -12.5 -12.7 -11.3 -10.2 -10.9 -12.2 -8.7 -10 9.7 5.5 5.0 -13.2 -15 3.5 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec Source Platts : *As of September 24th Investor Presentation www.tupras.com.tr REFINING INDUSTRY -20 -15.2 13.0 -13.2 -13.4 -17.4* Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec 8

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