Turkcell Iletisim Hizmetleri A.s. · BIST:TCELL
Turkcell Iletisim Hizmetleri A.s — Turkcell — Investor Presentation (October 2026)
64 slides from Turkcell Iletisim Hizmetleri A.s's investor presentation, October 2026
Slide 1: Turkcell Group Investor Presentation
TURKCELL GROUP Investor Presentation | October 2026
Slide 2: Content
CONTENT Overview Q2 2026 Highlights Q2 2026 Financials Business Review Sustainability Appendix
Slide 3: Overview
> TURKCELL Turkcell Group OVERVIEW
Slide 4: Turkcell Group At a Glance
Turkcell Group At a Glance #1 DIGITAL OPERATOR IN TURKEY DIVERSIFIED STRATEGIC FOCUS AREAS • Digital Services & Solutions: 4.7 Mn paid user • Market leader in mobile: 40.0 Mn subscribers • Best challenger in fixed broadband: 3.3 Mn subscribers • Digital Business Services: #1 ICT Solutions Provider #
Slide 5: Strong Demographics
Strong Demographics A Supportive Ground for Growth Six Structural Tailwinds Young & Digitally Active Population Structural Demand for Faster Fixed Broadband 1 • 50+% of population is under age 341 4 • Low average fixed broadband speed3: 84 Mbps (vs Global: 128 Mbps) • Mobile-first behavior and tech-
Slide 6: Key Strengths
Key Strengths Well Positioned STRONG & WELL-ESTABLISHED NETWORK >99.9% 138.1 Mbps 3.2 Gbps 10 Gbps 6.7 mn 70.4K km MOBILE Up to FIXED peak speed Fiber to the home Fiber homepass Pure Fiber in 31 provinces Network Leader in 81 cities wide spectrum support The First in Europe coverage in download spee
Slide 7: Our Future
Our Future «State-of-the-art Infrastructure & Best-in-class Technology» Paving the Way for the Future Empowering Value Through Technology • Continuous Digital Transformation • 5G Advanced Rollout • AI for Operational Excellence • Fiber Network Expansion • Cloud Services • Data Center Investments • C
Slide 8: Diversified Business Model
Diversified Business Model Focusing on Communication & Technology Main Business Areas TELECOM SERVICES TECHFIN SERVICES DIGITAL BUSINESS SOLUTIONS • Main growth and profitability driver • Non-cyclical and disruptive business • Digital transformation trend • Necessity; less volatile • Tech-savvy & hi
Slide 9: 2026 Guidance
2026 Guidance IAS29 Applied 2026 REVENUE GROWTH 5%-7% TURKCELL GROUP EBITDA MARGIN 40%-42% OP.CAPEX/SALES* ~25% DATA CENTER & CLOUD REVENUE GROWTH 18%-20% * Excluding license fees Note: Our 2026 guidance has been established using a certain number of assumptions regarding factors beyond our control,
Slide 10: Q2 2026 Highlights
Turkcell Group Q2 2026 HIGHLIGHTS
Slide 11: Q2 2026 Highlights
Q2 2026 Highlights Sustaining Real Growth in a Challenging Environment Financial Performance Operational Performance Strategic Areas Revenue Techfin Revenue TRY 71.8 Billion 284 K TRY 4.1 Billion Postpaid Net Add 2.5% YoY increase 7.0% YoY increase EBITDA Digital Business Services Revenue TRY 30.0 B
Slide 12: Mobile Operational Highlights
Mobile Operational Highlights SUBSCRIBER TREND Net Add, QoQ MOBILE ARPU vs CPI (YEARLY CHANGE IN %, Historical Figures) POSTPAID 32.5 284 K Net Add, YoY ARPU (Exc. M2M) CPI % ARPU Growth % Million 2.4 Million 49.3% 26.8% Our Initial Q2 31.0% 32.4% CPI Forecast Net Loss, QoQ 36.1% PREPAID 7.5 40 K Ne
Slide 13: Superbox
Superbox The Next Wave of Growth, Powered by 5G Market Leader 74.3% #1 Leadership strengthening Strong execution and sustained customer demand Fixed Wireless Access Market Share1 continue to reinforce our market leadership High demand momentum Subscriber Trend (Thousand) 5G 5G is expected to further
Slide 14: Fixed Broadband Operational Highlights
Fixed Broadband Operational Highlights SUBSCRIBER TREND Net Add, QoQ RESIDENTIAL FIBER ARPU vs CPI (YEARLY CHANGE IN %, Historical Figures) TURKCELL FIBER 2.6 31 K Net Add, YoY 89% 12-Month contract share in residential 59.9% Residential Fiber ARPU CPI % ARPU Growth % Million 43.6% 138 K 36.6% 36.1%
Slide 15: TV Services
TV Services Boosting Net Adds Through Content Partnerships Operational Highlights A Seamless Entertainment Experience with New Collaborations 2.7 Subscribers Million Net Add Trend OTT Watching Time (Thousand, OTT TV + IPTV) 123 106 QoQ YoY 62 14% 64% LAUNCH Q4 25 Q1 26 Q2 26 NOVEMBER 2025 Q2 2026 Re
Slide 16: Digital Business Services
Digital Business Services Large-Scale System Integration Success DIGITAL BUSINESS DATA CENTER & CLOUD DATA CENTER PORTFOLIO SERVICES BUSINESS Kocaeli Ankara REVENUE REVENUE (TRY MILLION) (TRY MILLION) Next generation Modules data centers 33% YoY 10% YoY Active Tekirdağ İzmir are now Activated in Q2
Slide 17: Techfin Business
Techfin Business Supporting Group Performance FINANCIAL HIGHLIGHTS (TRY MILLION) FINANCIAL HIGHLIGHTS (TRY MILLION) ▲ 22% YoY 12% YoY 200 0 10. 00% 9.0 0% 2,374 180 0 7.8% 8.0 0% Revenue 1,948 ▲ 4% YoY 6% Revenue 160 0 140 0 1,770 1,550 7.0 0% 6.0 0% 5.0 0% 738 769 4.5% 4.0 0% 2 120 0 NIM 3.0 0% EBI
Slide 18: Q2 2026 Financial Review
Turkcell Group Q2 2026 FINANCIAL REVIEW
Slide 19: Revenue & EBITDA Margin
Revenue & EBITDA Margin Turkcell Group Revenue (TRY Million) EBITDA Margin (%) ▲ 2.5% 1.7pp 0.8% 271 458 999 (0.4%) 0.2% (1.0%) (1.3%) 71,775 43.5% 70,047 41.8% Revenue Δ Turkcell Δ Techfin Δ Other Revenue EBITDA COGS Personnel Energy Sales & Other EBITDA Q2 25 Türkiye Q2 26 margin expense expense m
Slide 20: Net Income
Net Income Turkcell Group Net Income (TRY Million) 5.7% ➢ FX Impact (4,717) ➢ Interest Expense 322 3,773 ➢ Interest Income 280 248 1,083 (486) 1,182 5,549 (1,712) (287) (4,115) 5,235 Net income Δ EBITDA Δ Depreciation Δ Other Δ Monetary gain Δ Net finance Δ Share of profit of Δ Income tax Δ Disconti
Slide 21: Drivers of Net FX Loss
Drivers of Net FX Loss Turkcell Group Cash and Financial Assets Net FX Gain / Loss from (TRY Million) Substantial FX liquidity provides a strong natural hedge against FX liabilities. Op. Assets & Liabilities Debt (9,080) Increase in FX liabilities mainly driven by 5G license payment obligations Cash
Slide 22: CAPEX
CAPEX Turkcell Group Operational Capex / Sales Operational Capex Breakdown Investments in Strategic Areas (Non-Core) H1 26 2026E ~25% 23.2% 1.4% ~5% 34% 31% 33% 18.5% 47% 2.6% 5% 21.8% ~20% 15% 13% 13% 1% 7% 15.9% H1 25 H1 26 2026E Data Ren. Other Mobile Fixed Center Energy Note: Operational CAPEX f
Slide 23: Solid Balance Sheet
Solid Balance Sheet Turkcell Group Summary Net Debt / EBITDA TRY Million 0.36x Q4 25 Q2 26 0.14x 44,494 Total Cash 108,136 89,275 17,532 Financial Assets1 61,155 78,299 Q4 25 Q2 26 Net Debt Net Debt / EBITDA Total Assets 589,467 659,894 Debt Service (Principal & Interest)2 USD Million Total Debt 186
Slide 24: FX Exposure
FX Exposure Turkcell Group FX Breakdown Net FX Position (USD Million) Cash Debt 20% USD 19% 31% 40% EUR 51% TRY 8% 68% 5% CNY Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 18% 40% (9) (102) Excl. FX Swaps Incl. FX Swaps After Hedging FX Position Breakdown USD Million Equivalent (957) (1,339) (1,193) 1,194 (870) (1,
Slide 25: Business Review
Turkcell Group BUSINESS REVIEW • Telco Services • Digital Services • Techfin • Renewables • E-mobility • VCIF • International
Slide 26: Mobile Overview
TELCO SERVICES Mobile Overview Best Positioned to Capture Rising Data Demand SUBSCRIBER MARKET SHARE: THE LEADER FREQUENCY BANDS: WIDEST 394.4 MHz 20.0 20.0 315.0 MHz >99.9% 24.8 20.0 700 MHz Turkcell 59.6 20.0 800 MHz 32.0% 39.1% Network coverage 239.8 MHz 20.0 Vodafone 70.0 20.0 70.0 900 MHz 20.0
Slide 27: Fixed Broadband Market in Türkiye
TELCO SERVICES Fixed Broadband Market in Türkiye Best Challenger in the Market TURKISH FIXED BB MARKET1 FIXED BB SPEED2 (Mbps) FIXED BROADBAND MARKET BY TECHNOLOGY (Mn) Romania 282 36.5% Spain 267 30.3% 21.2 mn 78% 3 major 1.49 Total Household Operators Global 128 1.47 1.46 Subscribers Penetration 1
Slide 28: Well-invested Infrastructure
TELCO SERVICES Well-invested Infrastructure Focused on Fiber Rollout Turkcell In partnership with (stand-alone) Turksat, Vodafone & Turk Telekom Homepass 6.7 Mn Additional +5 mn Number of cities 31 81 EDİRNE İSTANBUL SAMSUN TEKİRDAĞ KOCAELİ DÜZCE ORDU TRABZON SAKARYA BURSA BALIKESİR ESKİŞEHİR ANKARA
Slide 29: Digital Business Services
DIGITAL SERVICES Digital Business Services Capabilities Offered to Corporates SERVICES CAPABILITIES Data Center and Digital Platforms Cloud Services Cyber Security Solutions Sectoral Solutions System Integration & Trusted Advisor & Project Managed Services Management ONE - STOP END to END Business
Slide 30: Global Digital Infrastructure Demand & Opportunities
DIGITAL SERVICES Global Digital Infrastructure Demand & Opportunities Cloud and AI-driven demand growth highlights the importance of local and low-latency infrastructure Global Demand Drivers Global Data Center Capacity is Regional Positioning Scaling at Speed Global Data Center Capacity Demand3 (GW
Slide 31: Türkiye Cloud Outlook: Growth Across All Layers
DIGITAL SERVICES Türkiye Cloud Outlook: Growth Across All Layers Structural shift in demand is accelerating enterprises’ transition to the cloud Türkiye Public Cloud Services Market Size* Sophisticated Cloud Computing Penetration** (USD bn) (%, 2025) Türkiye EU Average 74% 40% 40% 13% 4.2 SMEs Large
Slide 32: Datacenters
DIGITAL SERVICES Datacenters A major milestone in scaling up NEW GENERATION DATACENTERS TRADING MULTIPLES EV/2026E EBITDA (Median) ANKARA/TEMELLİ İZMİR/TORBALI KOCAELİ/GEBZE TEKİRDAĞ/ÇORLU Telecom Single-digit Data Center and Cloud** >20x **The referenced peer group is expected to grow EBITDA at 12%
Slide 33: Turkcell Data Center and Cloud Platform
DIGITAL SERVICES Turkcell Data Center and Cloud Platform Scaling Long-Term Value Through Infrastructure Leadership 6x >2x in USD terms by 2032-end** by 2032** • Strategic partnership with a global hyperscaler, creating a Data Center & Cloud Revenue Data Center Capacity (MW) differentiated positionin
Slide 34: Techfin Services
TECHFIN SERVICES Techfin Services Complementary Portfolio Leading Leading Widespread Smartphone Specialist Insurer Payment Platform Financing Company ~ 686 M TL gross written Premium (as of 6.8M active customers 1.2M+ personal loans per year Q2 2026) 2 36.3M app downloads Market leader by number of
Slide 35: Paycell: User Friendly Super-App
TECHFIN SERVICES Paycell: User Friendly Super-App Encompasses all FinTech Verticals with its Large Diversified Portfolio Prepaid Card Turkey's Leading Digital Payments & Financial Services Platform Bill Investment … both in revenues and profits Payment 6.8 Mn+ 3-month active users TURKISH … using va
Slide 36: Financell
TECHFIN SERVICES Financell Leading Player in Micro Loans in Türkiye 1.2M+ loans with a total amount of 22 billion TL annually Since Establishment Turkcell (Online-Physical): Smart devices and technology products 20Mn 86Bn TL Loans Loans Issued New Channels (Online-Physical): Car, Solar Panel, Shoppi
Slide 37: Wiyo Smartphone Insurance
Wiyo Expanding the Embedded Insurance Frontier in Türkiye VISION MISSION BRANDS Enhancing the Leveraging Turkcell insurance industry technology to broaden with our smart access to insurance solutions ▪ The only insurance company in Türkiye specialized in smartphone insurance ▪ Established in 2022, n
Slide 38: Expanding Renewable Footprint
RENEWABLES Expanding Renewable Footprint Prioritizing Cost Management and Sustainability Active Renewable Energy Portfolio Karadağ WPP Balıkesir SPP 175.4 MW 74.4 MW Installed Solar Capacity Active Solar Capacity Karaman SPP 18 MW 162 MN TL Uşak-1 SPP Uşak-2 SPP Van SPP Yozgat SPP Mersin SPP Solar-d
Slide 39: Digital Services & Solutions
DIGITAL SERVICES Digital Services & Solutions Dynamics of Strategy COMMUNICATION ENTERTAINMENT GROW IN CORE BUSINESS Live TV & VoD Cloud Storage ARPU support Music, Video & Podcast Increasing data usage & traffic Cloud Gaming Increasing loyalty & retention GROW IN B2B & B2C Profitability focus Digit
Slide 40: TV+ Penetration & Market Share
DIGITAL SERVICES TV+ Penetration & Market Share TV1 SUBSCRIBERS (thousand) 57% IPTV Penetration in 2,580 2,705 2,391 2,399 2,377 2,413 2,476 residential fiber • Super Content Platform Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 HBO Max, Apple, Tabii (UEFA Champions League, UEFA Europa League), S Sport
Slide 41: Togg
E-MOBILITY Togg E-mobility Ecosystem Around the Electric Vehicle December 2019: Preview cars unveiled July 2020: Groundbreaking of the production facility October 2022: Gemlik Technology Campus opened & became ready for mass production March 2023: T10X pre-sale launched Payments collected through PA
Slide 42: Turkcell New Technologies Venture Capital
VCIF Turkcell New Technologies Venture Capital Capturing High-growth Companies to Enhance Synergy & Value AIMS OF THE FUND Enhance portfolio with unique value propositions Turkcell New Technologies Accelerate digital transformation Venture Capital Acquire innovative capabilities to maintain a compet
Slide 43: Turkcell International
TURKCELL INTERNATIONAL Turkcell International Operations in Belarus BELARUS MOBILE MARKET FACTS* BEST PERFORMANCE Ownership 100% Turkcell BYN MILLION BYN Million Q2 2025 Ownership Q2 2026 YoY% 51% Belarusian 12.2 mn 136% 3 Revenue State 49% MTS 64.7 75.8 17.2% Total Mobile Ownership Operators 100% T
Slide 44: Key Financial Priorities
Turkcell Group KEY FINANCIAL PRIORITIES
Slide 45: Key Financial Priorities
Turkcell Group Key Financial Priorities Effective Strong Focus on Disciplined Balance Sheet Free Cash Flow Pricing Capital Allocation Risk Management Generation • A key driver of sustainable growth • Liquidity management • Sustainable revenue growth • Assessment of investment and profitability requi
Slide 46: Capital Allocation Strategy
Capital Allocation Strategy Execution-linked Long Term Value Creation INVESTING TODAY TO DRIVE CLEAR COMMITMENT TO SOLID BALANCE SHEET ENABLING FUTURE CASH FLOWS SHAREHOLDER RETURNS STRATEGIC FLEXIBILITY • Building high-quality infrastructure • ≥50% dividend policy • Balance sheet supporting growth
Slide 47: Inflationary Pricing
Key Financial Priorities Inflationary Pricing TURKCELL ARPU VS. CPI TREND MOBILE ARPU COMPARISON Q119=100 Q119=100 Company and TUIK announcements 1170 Based on ICTA market report 1096 1039 1047 920 840 1022 755 946 697 871 616 819 772 519 722 662 422 454 615 339 568 517 277 310 451 152 157 201 235 2
Slide 48: Effective Balance Sheet Management
Effective Balance Sheet Management Major Funding Details Type & Date Amount Interest Maturity Purpose of Funding Status Eurobond Repayment of Existing Indebtedness USD 500M 5.80% 11.04.2028 Issued in Apr 2018 and General Corporate Purposes (April 2018) Eurobond USD 500M 7,45% 24.01.2030 General Corp
Slide 49: Superonline
Superonline Türkiye’s Fastest Fiber • 70.4K km rollout across 31 cities • 2.6 Mn Turkcell fiber customers POTENTIAL ACTIONS • Data speeds up to 10Gbps • Infrastructure sharing in 81 cities INITIAL PUBLIC OFFERING STRATEGIC PRE-IPO PARTNER • 6.7 Mn fiber homepass • More transparent articulation of •
Slide 50: Paycell
Paycell Türkiye’s Leading Techfin Company • Established in 2000, fully owned by Turkcell POTENTIAL ACTIONS • Standalone Payment and E-money company STRATEGIC PARTNER • Solutions for customers: DCB, Prepaid card, QR • Share know-how Payment, Wallet, Bill Payment, Money Transfer, Open Banking • Joint
Slide 51: Global Tower
Global Tower Türkiye’s First & Biggest TowerCo POTENTIAL ACTIONS • The first and only TowerCo of Türkiye STRATEGIC PARTNER / MINORITY INVESTOR • Tower portfolio of 10.7K (owned & right of use) • Enhance know-how & expert knowledge • Long term, visible revenue stream & strong profitability Tenancy ra
Slide 52: Sustainability
Turkcell Group SUSTAINABILITY
Slide 53: Sustainability Initiatives
Sustainability Initiatives Responsible Business Culture Inclusive on environment on our business • Focus on renewable energy: 100% renewable energy usage with certification 99.1 MW total active capacity as of Q226 • Reaching 9K+ elderly through Digital Spring Project* • Published the Impact and Allo
Slide 54: Turkcell's Sustainability Strategy: Targets and Key Initiatives
Turkcell’s Sustainability Strategy Targets and Key Initiatives Targets Key Initiatives Using 100% renewable energy with certification Adopting a holistic approach to green • GHG reduction targets validated by the Science Based (YEK-G) procurement and supplier processes Targets Initiative1 (SBTi) to
Slide 55: Sustainability Governance & Reporting
Turkcell’s Sustainability Strategy Sustainability Governance & Reporting Corporate Value Creation Mechanism Performance in Prominent Sustainability Indices Member of Borsa Istanbul Sustainability 25 Index (adopting LSEG's ESG scoring metrics) SOCIAL Board of Directors Recognized on the CDP A List fo
Slide 56: Appendix
@) TURKCELL Turkcell Group APPENDIX
Slide 57: Corporate Governance
Corporate Governance SHAREHOLDING STRUCTURE BOARD COMMITTEES AUDIT COMMITTEE NOMINATION COMMITTEE EARLY PREVENTION OF RISKS 100% 100% REMUNERATION COMMITTEE COMMITTEE CORPORATE GOVERNANCE STRATEGY AND COMMITTEE DIGITALIZATION COMMITTEE PUBLICLY HELD TWF BTIH IMTIS H. BOARD OF DIRECTORS 54% 26.2%* 19
Slide 58: ADR Program
ADR Program Listed on both the NYSE and BIST since July 2000 ADR Summary • Symbol: TKC • Underlying ISIN: TRATCELL91M1 • CUSIP: 900111204 • SEDOL: B03MYN3 • Ratio: 5 ORD = 2 ADR • Depositary bank: Citi • DR ISIN: US9001112047 Benefits of ADRs to US investors • Clear and settle according to normal US
Slide 59: Mobile Termination Rates In Turkey
Mobile Termination Rates In Turkey MOBILE VOICE RATES OLD 2022 Asymmetry 2023 Asymmetry Since 2024 Asymmetry The asymmetry Turkcell 2.50 2.39 2.25 2.1 in MTRs was removed Vodafone TR 2.58 2.44 2% 2.28 1% 2.1 - as of 2024 (Asymmetric since 2006) TTKOM 2.96 2.71 13% 2.41 7% 2.1 - EVOLUTION OF MTR TRY
Slide 60: Major Taxation Items
Major Taxation Items TAX MOBILE FIXED Special Communication Tax (SCT) 10% 10% VAT 20% 20% Treasury Share1 15% 1% TRX fees 5% - (of net sales) Contribution Share to Telecom Authority 0.35% 0.35% (of net sales) (of net sales) New subscription SCT2 (at first enrollment) TRY 700.00 - Radio (wireless) us
Slide 61: Macroeconomic Indicators
Macroeconomic Indicators USD / TRY EUR / TRY 44.38 46.56 42.86 35.22 50.45 51.02 53.10 29.44 43.59 45.36 39.44 32.57 36.74 52.61 34.48 51.38 18.70 44.58 29.15 19.93 32.14 35.47 16.49 17.31 2022 2023 2024 2025 Q1 2026 Q2 2026 2022 2023 2024 2025 Q1 2026 Q2 2026 USD / BYN 3.47 3.18 3.07 2.95 2.74 2.91
Slide 62: Financial Summary
Financial Summary Turkcell Group Q2 2025 Q2 2026 YoY Growth MILLION TL Revenue 70,047 71,775 2.5% EBITDA 30,498 30,013 (1.6%) EBITDA Margin 43.5% 41.8% (1.7pp) EBIT 11,649 9,451 (18.9%) EBIT Margin 16.6% 13.2% (3.4pp) Net Income 5,549 5,235 (5.7%) Note: Figures are based on IFRS Investor Presentatio
Slide 63: Notice
Notice This presentation contains the Company’s financial information for the quarter ended June 30, 2026 prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). This presentation contains the Company’s fina
Slide 64: Thank You
THANK YOU Turkcell Investor Relations For further information please e-mail investor.relations@turkcell.com.tr Website or call Turkcell Investor Relations at +90 212 313 1888