Dogan Sirketler Grubu Holding A.s. · BIST:DOHOL
Dogan Sirketler Grubu Holding A.s — Q2 2026 Earnings Presentation
27 slides from Dogan Sirketler Grubu Holding A.s's earnings presentation, Aug 12, 2026
Slide 1: 2Q 2026 Financial and Operational Results
2Q 2026 Financial and Operational Results August 12, 2026 1
Slide 2: Disclaimer
Disclaimer The informationcontained in this presentationhas been obtainedfrom sources deemed reliable by Doğan ŞirketlerGrubu Holding A.Ş. (“Doğan Holding”) and is provided solely for informational purposes. However, Doğan Holding makes no representations or warranties regarding the accuracy, comple
Slide 3: 2Q26 Highlights
2Q26 Highlights Solid net cash position NAV improved by 14% ytd Outperformed XHOLD Index enhanced by 3% q/q by 11% in 1H26 • No capital injection for any subsidiary • Finance segment valuation based on • Outperformed XHOLDin 1H26: in the second quarter of 2026 book value growth and P/Bpeer o DOHOL:
Slide 4: 2Q26 Summary Financial Performance, Reported
2Q26 Summary Financial Performance, Reported (Million TRY) Revenue, mn TL EBITDA, mn TL & margin Net Profit, mn TL 27% 29,422 26,224 20% 3,292 5,931 7,025 100 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 Higher hydro generation due to strong rainfall in Robust growthat EBITDA marginthanks to superior The new corpo
Slide 5: Strategic and Dynamic Focus Areas
Strategic Dynamic Focus Areas Focus Areas Higher NAV contribution– Regular Dividend Payments Dynamic Portfolio Management– Value-Accretive Corporate Actions Mining Financial Renewable Electronics, Automotive & Internet, Services Energy Technology & Mobility Entertainment, Industry Real Estates Gümüş
Slide 6: Strategic Focus Areas
KNOWS AND CREATES VALUE Strategic Focus Areas 6
Slide 7: Mining: Gümüştaş – Türkiye's 3rd largest metal miner in lead and zinc
Mining Gümüştaş – Türkiye’s 3rd largest metal miner in lead and zinc Summary Financials ( mn TL) Revenue Breakdown, 2025 Revenue EBITDA & margin 2Q26 Highlights 15% • 75 % y/y increase in mining 23% 42% 1,507 production 1,327 28% • EBITDA margin reached 42% in Lead 551 420 33% Zinc Pyrite 29% Other
Slide 8: Financial Services: Hepiyi Insurance
Financial Services Hepiyi Insurance Operational Highlights Türkiye’s first end-to-end digital insurer AUM (mn USD) GWP Portfolio Breakdown, Jun’26 2Q26 Highlights Other MOD • Strong AUM growth of 44 % y/y 13% 22% 902 625 • 58bps y/y increase in MTPL market share, reaching 6.7% 65% MTPL Jun’25 Jun’26
Slide 9: Financial Services: Hepiyi Insurance
Financial Services Hepiyi Insurance Türkiye’s first end-to-end digital insurer Financial Highlights * • Robust growth at gross written Gross Written Premium (mn TL) Technical Profit (mn TL) Net Profit (mn TL) premiums continued with 32 % y/y 9,156 2,483 2,313 in 2Q26 6,923 1,590 • Operational effici
Slide 10: D Investment Bank & Doruk Factoring
Financial Services D Investment Bank & Doruk Factoring D Investment Bank Summary Financials* ( mn TL) D Investment Bank Revenue Net Profit Total Assets • D Investment Bank was recognized as (Gross Operating Income) "Turkey's Best Investment Bank for 277 82 81 11,570 243 Financing Solutions" at the 6
Slide 11: Electricity Generation: Galata Wind
Electricity Generation Galata Wind 2Q26 Highlights Total Installed Capacity: 354.2 MW • Galata Wind's electricity generation declined by 11% y/y in 2Q26, due to Summary Financials ( mn TL) Power Plant s Capacity (MW) heavy rainfall , which significantly Mersin WPP 99.9 boosted hydroelectric power pl
Slide 12: Dynamic Focus Areas
KNOWS AND CREATES VALUE Dynamic Focus Areas 12
Slide 13: Electronics, Technology & Industry: Karel
Electronics, Technology & Industry Karel Summary Financials ( mn TL) Revenue EBITDA & margin Net Working Capital ( mn TL)* 2Q26 Highlights 4,926 5,363 10% 3,433 • The transformation program at Karel 3,263 3,232 6% 516 2,628 continued to deliver positive results. As a 2,174 result, Karel recorded rea
Slide 14: Electronics, Technology & Industry: Sesa Packaging
Electronics, Technology & Industry Sesa Packaging Summary Financials ( mn TL) Share of Exports 56% Revenue EBITDA & margin 51% Türkiye’s leading niche, scalable, 20% premiumand recyclable flexible 1,418 1,451 14% packaging company 280 197 2Q25 2Q26 2Q26 Highlights 2Q25 2Q26 2Q25 2Q26 • Sesa benefite
Slide 15: Automotive & Mobility: Doğan Trend
Automotive & Mobility Doğan Trend MG Suzuki Summary Financials ( mn TL) Sales Volumes (unit)* Kymco Piaggio Revenue EBITDA Vespa 3,311 Maxus 6,447 17 3,949 2Q26 Highlights 2,281 • MG sales increased 1% y/y in 2Q26 thanks -154 to competitive pricing and the contribution 1,644 2Q25 2Q26 2Q25 2Q26 1,25
Slide 16: Internet & Entertainment: Kanal D Romania & Hepsiemlak
Internet & Entertainment Kanal D Romania & Hepsiemlak Kanal D Romania Summary Financials ( mn TL) Revenue EBITDA & margin Net Profit 823 42% 44% Kanal D Romania 717 126 350 110 • Romania’s #2 TV channel 319 • Strong EBITDA sustained • Regular dividends maintained 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 Hepsie
Slide 17: Real Estate Investments: 294 mn USD
Real Estate Investments*: 294 mn USD Valuation Dogan (mnUSD )* Stake Land/Location Size (m 2 ) Dogan (mnUSD ) Stake 2Q26 D Yapı, Romania 55k 100% 24 24 Kandilli Gayrimenkul , Ist . 23k 50% 74 37 2Q26 Highlights • Trump Tower: 96% occupancy rate Doğan Holding, Ist . 520 100% 8 8 • Milta Marina : 89%
Slide 18: Dynamic Cash Management
Dynamic Cash Management Solo Net Cash Position Consolidated Net Cash Position Cash Management Policy (mn USD) (mn USD) 633 649 932 960 Dynamic currency allocation policy based on yield prospects 1Q26 2Q26 1Q26 2Q26 Holding -only Solo Cash Position Pound FX Breakdown Pound EUR Prudently managing asse
Slide 19: Closing Remarks
KNOWS AND CREATES VALUE Closing Remarks 19
Slide 20: 2026 Guidance Revised
2026 Guidance Revised* Strategic Focus Areas Renewable Energy Mining Financial Services (Galata Wind) (Gümüştaş) (Hepiyi – DY Bank – Doruk Factoring) 2030 Net Asset Value Target: 4.5 bn USD 950 – 1000 GWh >40% Revenue Growth 200 – 250mn USD AUM** Electricity Generation addition at Hepiyi 40 - 50% EB
Slide 21: Appendix
KNOWS AND CREATES VALUE Appendix 21
Slide 22: Appendix / NAV & Shareholder Structure
Appendix / NAV & Shareholder Structure NAV Shareholder Structure DOHOL Valuation DOHOL stake 2Q26 Valuation Method Stake (mn USD) (mn USD) Electricity Production 207 Aslancık HEPP 33.33% 0 0 Galata Wind Market Cap 70.00% 295 207 Electronics . Technology & Industrials 186 Doğan Dış Ticaret Book Value
Slide 23: Appendix / Financial Tables
Appendix / Financial Tables Profit & Loss Statement Balance Sheet (mn TL) 2Q25 2Q26 ∆ 1H25 1H26 ∆ (mn TL) 31.12.25 30.06.26 ∆ Sales 29,422 26,224 -11% 55,511 51,834 -7% Current Assets 134,291 138,288 3% COGS -24,731 -20,755 16% -46,691 -40,118 14% Non-Current Assets 83,089 82,055 -1% Gross Profit 4,
Slide 24: Appendix / Financial Tables
Appendix / Financial Tables Revenue Breakdown Net Cash / (Debt) Breakdown (mn TL) 2Q25 2Q26 1H25 1H26 (mn TL) 31/12/25 30/06/26 ∆ ∆ Electricity Generation 799 367 -54% 1,578 1,107 -30% Electricity Generation -1,757 -2,138 Industry & Trade -7,310 -7,242 Industry & Trade 7,473 7,085 -5% 14,737 13,732
Slide 25: Appendix / 2Q26 Segmental Analysis
Appendix / 2Q26 Segmental Analysis Electricity Automotive Trade Financing Internet & Real Estate Mining Industry & Trade Eliminations Total Generation & Marketing & Investing Entertainment Investments mn TL 2Q26 Revenue 1,327 367 7,087 3,949 11,984 1,217 443 (151) 26,224 Revenue Share 5% 1% 27% 15%
Slide 26: Investor Relations Contact
Investor Relations Contact KNOWS AND CREATES VALUE ir@doganholding.com.tr +90 216 556 94 00 26
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