Investor Presentation

Q4 Profit Before Tax Bridge (2018-2019) Decline in Profit Before Tax was driven by weaker crack margins, narrower differentials and FX loss. Million TL 1,649 51 -1,104 -528 -207 +208 Inventory -921 FX -713 209 203 -439 2018 PBT Production Cracks Differential Natural Gas & Other OPEX FX & Inventory Interest Expense Other 2019 PBT February 20 Financials Investor Presentation www.tupras.com.tr 29

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