Investor Presentaiton

Tüpraş and Med Refining Margins $/bbl 6.5 2015 12M Margins Tüpraş Net Margin Med Margin 6.0 5.3 2016 3.6 8.1 2017 5.8 9.3 2018 4.5 3.7 1.7 2019 Gross Inventory Clean Gross Clean NET ($/bbl) Margin Effect Margin Margin Net Margin Med Margin 2019 Q4 9.7 0.7 9.0 2.9 3.6 -1.9 2019 12M 9.2 0.1 9.1 3.6 3.7 1.7 2018 Q4 10.8 -4.0 14.9 9.0 5.0 4.7 2018 12M 14.7 0.8 13.9 8.5 9.3 4.6 February 20 Financials www.tupras.com.tr Investor Presentation 25

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