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Brent Crude Prices $/bbl 15 yr range 130 118.8 5 yr ave 123.7 113.3 110 104.4 98.2 87.2 90 112.7 -2022 2023 100.0 93.3 89.9 86.2 84.9 82.8 82.5 80.1 78.6 75.6 70 74.7 0 91.7 + Russian-Ukraine war + Impact of sanctions + Post-pandemic demand recovery 81.1 Recession fears Zero Covid Policy and its impact on Chinese demand SPR releases Year 50 Average Brent Prices ($/bbl) 2018 71.0 2019 64.3 30 2020 41.7 2021 70.7 10 2 3 4 5 6 7 8 9 10 11 12 2022 101.2 data as 31 August, 5 year range shows 2018-2022 Sep-23 Investor Presentation Refining Market www.tupras.com.tr 4

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