Investor Presentaiton

Value Accretive Business Model Turkish Airlines' value creation is materially above the industry Return on Invested Capital (ROIC) 9.5% 9.1% 8.5% 8.9% 8.8% 7.9% 7.9% 7.2% 6.2% 7.9% 6.8% 6.5% 4.6% 4.9% 5.4% 5.8% 2012-22 Avg.: 7.3% 4x 2012-22 Avg.: 1.8% -0% -0.5% -19.3% -8.0% 14-15% 14.3% 0.6% -1.7% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Turkish Airlines ROIC Airline Industry ROIC TURKISH AIRLINES A STAR ALLIANCE MEMBER ROIC: (EBIT + Op. Lease Interest + Interest Income + Interest Income from Financial Investments - Current Tax Expense) / (Total Debt + Equity + Adj. for Op. Leases). Source: Turkish Airlines, IATA for the airline industry. 9

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