Investor Presentation

2020 Expectations Med Complex Refining Margin 1.5-2.5 $/bbl • Ural-Brent differential widening compared to 2019 • Weak outlook for HSFO Tüpraş Net Refining Margin 4.5-5.5 $/bbl • IMO driven growth in mid-distillate cracks • Gasoline cracks remain flat, HSFO to remain weak Heavy Crude Differentials to widen • ~28 mt production, ~29mt sales and 95 - 100% capacity utilization Refining Capex 200 million Sulphur treatment units, improvement in storage units February 20 Investor Presentation Appendix www.tupras.com.tr 40

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