Investor Presentation

Heavy Crude Price Differentials to Brent ($/bbl) -5 -10 -15 -20 0 5 сл Arab Heavy Kirkuk CPC Average* Basrah Heavy Iran Sanctions OPEC+ Cut Decision OPEC+ Disagreement OPEC+ Cut Decision Russia Ukraine War OPEC+ Cut Decision 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 1 2 3 4 5 6 7 8 9 data as 30 September Oct-23 Refining Market Investor Presentation www.tupras.com.tr *Simple average of listed differentials 8

View entire presentation