H1 2019 Results

Crude Price Differentials to Brent ($/bbl) Heavy crude differentials continued narrowing in Q2 with lower availability mainly due to OPEC+ cuts, Iran sanctions and limitations on Venezuelan supply. Ural and CPC differentials both widened in June due to ample oil supplies in the European Market. Arab Heavy 2 0 -2 -4 -6 -8 -10 -12 *Simple average of listed differentials Investor Presentation www.tupras.com.tr Basrah Heavy CPC Kirkuk Kuwait Libya Ural -Average* OPEC Cut Iran Decision Sanctions OPEC Cut Decision 10

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