H1 2019 Results

Middle Distillate Cracks ($/bbl) 20 Diesel -2016 2017 -2018 -2019 19.5 20 Jet Fuel 18.1 16.2 16.2 16.5* 15.5 16.4 16.7* 14.9 15.0 14.3 15.0 15 14.1 15.9 14.1 14.8 13.6 13.7 14.4 15 14.4 14.4 13.7 13.9 12.6 12.9 13.2 12.1 12.2 13.6 11.4 14.4 13.8 15.2 14.3 11.5 13.3 12.2 13.2 10.4 11.2 12.5 10 11.9 10.0 10 9.5 11.4 10.9 10.3 50 7.2 6.6 LO 5 0 0 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 9.1 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec. 7

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