Investor Presentation

Gasoline and High Sulphur Fuel Oil Cracks ($/bbl) 24 18 18.6 13.5 12 6 10.2 -2016 -2017 2018 -2019 Gasoline -4 -4.8* -7.0 -7 High Sulphur Fuel Oil -8.7 14.4 13.4 11.9 -10 13.0 13. -11.9 12.0 12.1 -12.5 -13.0 10.6 9.7 9.6 -14 -12.7 -13.2 1.7 1.6* 0 5.5 5.0 3.5 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec Source Platts As of February 15th. Investor Presentation www.tupras.com.tr REFINING INDUSTRY -17 -20 -15.2 -3.7 -8.3 -6.8 -8.5 -9.1 -13.2 -10.2 10.9 -12.2 Jan Feb Mar Apr May Jun July Aug Sep Oct Nov Dec 8

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