Koc Holding A.s. · BIST:KCHOL
Koc Holding A.s — Q1 2026 Earnings Presentation
24 slides from Koc Holding A.s's earnings presentation, May 8, 2026
Slide 1: Koç Holding 1Q26 Earnings Presentation
KOÇ HOLDING 1Q26 EARNINGS PRESENTATION // 1Q26 Earnings Presentation May 8, 2026 // Istanbul
Slide 2: Disclaimer
Disclaimer With the Capital Markets Board of Turkey’s Bulletin dated 28.12.2023 numbered 2023/81, CMB announced that issuers and capital market institutions shall prepare their annual financial statements ending on 31.12.2023 or later, in accordance with IAS 29 inflationary accounting provisions. Ac
Slide 3: Agenda
Agenda Koç Group Highlights Key Metrics Highlights on Main Sectors // 1Q26 Earnings Presentation 3
Slide 4: Agenda
Agenda Koç Koç Group Group Highlights Highlights Key Metrics Highlights on Main Sectors // 1Q26 Earnings Presentation 4
Slide 5: Koç Group: 1Q 2026 Highlights
Koç Group: 1Q 2026 Highlights Strong Start With Disciplined Execution Amid Volatile Backdrop Diversification drives resilience Financial flexibility anchored by… • Energy: High utilization levels underscored operational flexibility, boosting production in a strong margin environment …strong net cash
Slide 6: Koç Group: Financial Performance
Koç Group: Financial Performance Solid Results Driven by Disciplined Execution COMBINED CONSOLIDATED Revenue Profit Before tax Profit Before tax Net Income/(Loss) TL trillion TL billion TL billion TL billion 1.2 1.1 21.8 29.9 0.5 18.1 1Q25 1Q26 8.7 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 -1.9 Largest industri
Slide 7: Agenda
Agenda Koç Group Highlights Key Metrics Highlights on Main Sectors // 1Q26 Earnings Presentation 7
Slide 8: Key Metrics: Diversification Across Sectors And Geographies
Key Metrics Diversification Across Sectors And Geographies Underpins Resilience Net Asset Value Breakdown by Sector1 Combined Revenue Breakdown 1Q 2026 Auto Auto (Other) (PC & CV International 11% Manufacturing) 32% ~ 47% 23% hard currency based Refining revenues 23% Finance 19% Oil & Gas Distributi
Slide 9: Key Metrics: Solid Liquidity
Key Metrics Solid Liquidity Net Cash Bridge Koç Holding-only, TL Million 18,809 1 7,285 43,009 3,288 34,917 1 - 18,001 In Apr’26: 2025YE Dividend Dividend Other 2 31 March 2026 + Dividend Dividendfrom from Club Loan Net Cash Income Payment Net Cash EYAŞ in EYAŞ Apr’26 draw-down (5yr) US$ 815mn US$ 9
Slide 10: Key Metrics: Fundamentals Remain Intact
Key Metrics Fundamentals Remain Intact On The Back Of Prudent Management As of 31 March 2026 Net Cash Breakdown 31 March 2026 Strong Net Cash US$ 969mn Koç Holding-only Net Cash Position TL 16% Hard Currency FX Position +US$ 159mn Consolidated long fx position 84% after natural hedge1 Solid Liquidit
Slide 11: Agenda
Agenda Koç Group Highlights Key Indicators Highlights on Main Sectors // 1Q26 Earnings Presentation 11
Slide 12: Energy
Energy Robust Refining Margin Underpinned Bottom-Line Domestic Market Sales Volume Crack Margins 1Q26 Highlights Million Tonnes USD/bbl 84.4 Crack margins at record highs y/y -0.3% +6% +13% -5% Growth High-capacity utilization 58.4 3.7 3.7 Resilient and steadily increasing domestic demand Positive i
Slide 13: Automotive
Automotive Navigating Demand Headwinds in a Competitive Market 1Q26 Highlights Sales Volume Monthly Trend Thousand Units Thousand Units Strong domestic market position Koç Total Turkey Exports 23% 74% 25% 34% 49% Passenger Cars (Turkey) Market Share Solid export volume; strong TL acting as a headwin
Slide 14: Consumer Durables
Consumer Durables Improved Profitability Amid Challenging Market Conditions 1 Sales Volumes Across Markets Monthly Trend 1Q26 Highlights Million Units Million Units " Koç Margin expansion driven by execution and cost discipline Market Share 20% 68% 26% 30% 41% Favorable EUR/USD tailwind y/y -10% +2%
Slide 15: Finance
Finance Solid Margin Performance Supported by Effective Spread Management TL Lending Growth Sector’s Loans & Deposits 1Q26 Highlights 13 Weeks Annualized TL Billion, USD Billion Strong core revenue growth driven by NIM and fee performance Private State Sector 110% 1Q26 q/q y/y Lower funding costs su
Slide 16: Koç Group: Q1 2026 Financial Performance
Koç Group: Q1 2026 Financial Performance Resilient Results Driven by Portfolio Diversification Financial Performance Consumer TL Million Energy Automotive Finance Other TOTAL Durables Combined Revenues1 404,574 351,498 143,422 245,871 52,730 1,198,095 Change (y/y) 17% 13% -13% 0.1% 0.5% 7% Segment S
Slide 17: Q&A
Q&A // 1Q26 Earnings Presentation
Slide 18: Consolidated Key Financial Figures
Appendix Consolidated Key Financial Figures Consolidated Main Financial Indicators Consolidated Net Income TL Million TL Million 1Q25 1Q26 y/y Revenue 704,473 738,043 5% 1,493 152 Gross Profit 120,507 130,526 8% Operating Profit 22,883 30,433 33% 3,901 - 1,027 Profit Before Tax 8,729 21,802 150% 522
Slide 19: Business Model Ensures Sustainability of Dividend Income
Appendix Business Model Ensures Sustainability of Dividend Income Dividend Income1 Dividend Payments1 TL Billion TL Billion Dividend 2023 2024 2025 2026 Q1 Dividend 6% 28% 1021% 79% Tüpraş (inc. EYAŞ) 10.3 16.5 15.3 6.6 Payout 38.5 Ford Otosan 6.0 7.8 10.5 4.9 33.4 Tofaş 1.1 3.8 2.3 3.8 Dividend 2.2
Slide 20: Historical NAV Discount
Appendix Historical NAV Discount Relative Share Performance of Koç Holding vs. Koç Group 1 NAV Discount/Premium2 Rebased at 2025YE 13% 8% 35% 28% 3% 30% -2% 25% 24% -7% 20% Avg NAV discount since 2009: -14% Historical 15% 12% -12% Average 10% -17% 5% 5% -22% 0% -27% -5% -32% -10% -37% 31.12.2025 12.
Slide 21: 2026 Guidance of the Listed Group Companies
Appendix 2026 Guidance of the Listed Group Companies TÜPRAŞ 2025A 2026E TOFAŞ 2025A 2026E 2026E - May'26 TÜRKTRAKTÖR 2025A 2026E 2026E - Apr'26 Sector ('000) Sector ('000) Tüpraş Net Refining Margin ($/bbl) 7.0 6.0-7.0 Total TR LV Sales (PC+LCV) 1,368 1,300-1,400 1,200-1,300 Total TR Tractor Sales 4
Slide 22: Our ESG Journey
Appendix Our ESG Journey ✓ International Platforms ✓ Committed to be carbon neutral by 2050 ➢ United Nations Global Compact The Koç Group Carbon Transition Roadmap: ➢ CEO Water Mandate 17% reduction in 2024 vs. 2017 baseline year ➢ CFO Coalition For the SDGs ➢ WEF - Stakeholder Capitalism Metrics, C
Slide 23: Shareholding Structures Koç Holding
Appendix Shareholding Structures Koç Holding Koç Family: 63.48%1 Free Float: 26.85% Vehbi Koç Foundation: 7.29% Koç Pension Fund: 2.35% Share Buyback: 0.04% Consumer Energy Automotive Finance Other Durables Tüpraş Yapı Kredi Bank Marmaris Altınyunus Ford Otosan Arçelik EYAŞ: 46.4% KH: 20.22% KH: 60.
Slide 24: Contact Us
Contact Us Koç Holding Investor Relations Koç Holding IR Website Annual Report 2025 Contact the IR team: investorrelations@koc.com.tr +90 850 756 23 23 Helin S. Çelikbilek, Coordinator Cansev Atak, Manager İsmail Özer, Manager // 1Q26 Earnings Presentation 24