Investor Presentaiton

Efficient Capex Management and Healthy Leverage Ratios CAPEX Debt Breakdown (31 January 2021) % Sales 4.1% 2.8% 3.1% 4.2% 7% Average Cost of Debt 100.6 101.3 5% 9% EUR TRY 11.5% 7% 72.8 USD 66.1 2% EUR 0.9% ■CAD USD 3.3% TRY RUB 12.5% RUB 2017 2018 2019 2020 77% 93% CAD 3.0% Blended 9.9% ND/LTM EBITDA (exIFRS16) Net Debt/ LTM EBITDA (exc. IFRS 16) 0.02x 9 0.17x 37 31 January 2020 31 January 2021 mavi . • 16% of total consolidated debt is carried by Mavi US, Mavi EU, Mavi CA and Mavi RU - all denominated in their local currencies. Only 7% of total debt is in foreign currency and is naturally hedged • Keeping no FX position is management priority 25

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