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Heavy Crude Price Differentials to Brent ($/bbl) 2 0 -2 -4 -6 -8 -10 -12 Iran Sanctions OPEC+ Cut Decision OPEC+ disagreement OPEC+ Cut Decision Arab Heavy Basrah Heavy Kirkuk ⚫Ural • Average* 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 2018 Feb-22 Refining Market Investor Presentation 2019 2020 www.tupras.com.tr 2021 2022 *Simple average of listed differentials 8

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