Karsan Otomotiv Sanayii Ve Ticaret A.s. · BIST:KARSN
Karsan Otomotiv Sanayii Ve Ticaret A.s — Investor Presentation (May 2024)
51 slides from Karsan Otomotiv Sanayii Ve Ticaret A.s's investor presentation, May 24, 2024
Slide 1: Investor Presentation
< KARSAN INVESTOR PRESENTATION ISTANBUL, 24 MAY 2024 C4 Karsan | erectric’— Evowtion
Slide 2: Karsan at a glance
< KARSAN -6Ovears 2600 MOBILITY EMPLOYEES PIONEER & LEADER «START-UP» SPIRIT K4 karsan | ELECTRIC = EVOLUTION
Slide 3: Our Vision
OUR VISION C4 carsan | (ey Se” @~ CJ) Jace Sustainable Growth in Distinctive Being a Pioneer in Future : Operational Processes Mobility Technology & Europe & North America . Collaborations C4 karsan | ecrric > EVOLUTION
Slide 4: Exist in the Global Market
EXIST IN THE GLOBAL MARKET MANUFACTURING «| KARSAN | ELECTRIC EVOLUTION
Slide 5: Technological Trends
TECHNOLOGICAL TRENDS a ELECTRIC HYDROGEN AUTONOMOUS «| KARSAN | ELECTRIC EVOLUTION
Slide 6: Public Transportation in the Near Future
=PUBLIC TRANSPORTATION IN THE NEAR FUTURE... i », ELECTRIC CONVERSION IS ACCELERATING — : \) % IN 2035, 100% OF NEW URBAN BUS $ 100 MN BUDGET IN 5 YEARS WITH ZERO EMISSIONS TO ELECTRIC PUBLIC TRANSPORT \ «| KARSAN | ELECTRIC EVOLUTION
Slide 7: Electric Evolution in Global Bus Battery Market
Source: Market & Markets Global Outlok Report, Chotrou CME Solutions European Bus Report, Expert Analysis. ELECTRIC EVOLUTION IN GLOBAL BUS BATTERY MARKET ee ee 297.000 «| KARSAN | ELECTRIC. EVOLUTION ~~
Slide 8: Electric Evolution in Global Mass Transportation Market
ELECTRIC EVOLUTION IN GLOBAL MASS TRANSPORTATION MARKET 223.000 /\S{V\ PAC 184.099 et 145,060 y a I: } : j . 38,500 ea 72316 29,000 23,700 19,350 y 9.600 aan 3,000 = 4500 oh NER a eorcornsrnn MOLE EAST © ATM 7 2020 2024 2028 2030 Source: Morket & Markets Globo! Outlook Report, Chatrou CME Solutions
Slide 9: Electric and Hydrogen Evolution in Global Bus Battery Market
ELECTRIC AND HYDROGEN EVOLUTION IN GLOBAL BUS BATTERY MARKET eT MEUECTRIC Source: Market & Markets Global Outlok Report, Chotrou CME Solutions Epo Bs Ret, Ep rs «| KARSAN | ELECTRIC EVOLUTION
Slide 10: Mv. III
Mv. lll C4 caesan | ere evan
Slide 11: All in Karsan
ALL IN KARSAN ELECTRIC oe >» = | «| KARSAN | ELECTRIC EVOLUTION
Slide 12: 1100+ Vehicles of Karsan e-Buses on the Road
1100+ VEHICLES OF KARSAN E-BUSES ON THE ROAD IN 23 COUNTRIES — NORWAY, FINLAND 0} CANADA BLOWN LITHUANIA ©) GERMANY POLAND LUXENBOURG @ f, SLOVAKIA USA 2 rao MTERLAND.,cROTA nai @ mt (©. BULGARIA © sean c 8. MEXICO PORTUGAL OREECE TORKIVE C4 Karsan | erectric’— Evowtion © JAPAN,
Slide 13: «| KARSAN
«| KARSAN | ELECTRIC EVOLUTION
Slide 14: Our Target Markets
OUR TARGET MARKETS Karsan | execrric > evowton
Slide 15: Europe's Rising Star!
EUROPE'S RISING STAR! 6.2% 5.9% < KARSAN ah 2023 MARKET RANKING 3.1% 18% ‘ —-> 2019 2020 2021 2022 2023 Source: Chotrou Euopeon Bus Reports EU27+NO+CH 5 tons and obove European Left Hond Drive epee eee E¢ karsan | euecrric( > EvOLUTION
Slide 16: European Countries Where We Are in Top
EUROPEAN COUNTRIES WHERE WE ARE IN TOP 3 nS 2021-2023 ‘I __, 16 2023 z 5 IK 38% 2022-2023 2023 71 . = 13% New Entrance Source: 2019, 2020 , 2021, 2022, 2023 Chatrou Bus Report, EU27+NO+CH By Kd Ay Ka 2019-2023 & 2020-2023 a Pa 2023 rl ao a 5 196 x 191 t 12% 23% 2 < 4 SH Cd Ly XA 2019-2028 & 4 2022-2
Slide 17: European Electric Minibus and Midibus Market Leaders for Years
EUROPEAN ELECTRIC MINIBUS AND MIDIBUS MARKET LEADERS FOR 4 YEARS! aN = -_ if ES J «| KARSAN | ELECTRIC EVOLUTION
Slide 18: Autonomous Bus Deployments in USA and Europe
AUTONOMOUS BUS DEPLOYMENTS IN USA AND EUROPE (@®) © Norway, st Q , Stavanger TURKIYE, Ankara ey, : < KARSAN | ELECTRIC EVOLUTION
Slide 19: Electric Exports from Turkey to Europe in the Last Years
ELECTRIC EXPORTS FROM TURKEY TO EUROPE IN THE LAST 5 YEARS < KARSAN (a) =) «| KARSAN | ELECTRIC EVOLUTION ree: Bus ond minibus export data 2019, 2020, 2021, 2022 Chatrou Bus Report, NO+CH Data Analysis & Press Reports,
Slide 20: Our Target Markets
OUR TARGET MARKETS «| KARSAN | ELECTRIC EVOLUTION
Slide 21: North America's First Electric Minibus
: NORTH AMERICA’ S FIRST ELECTRIC MINIBUS! — «| KARSAN | ELECTRIC. EVOLUTION
Slide 22: yori
yori K4 karsan | ELECTRIC EVOLUTION
Slide 23: Firsts with the Production of Renault Megane
§) WE ACHIEVED FIRSTS WITH THE PRODUCTION OF RENAULT MEGANE! si . v): RENAULT a sh £4 arsan | necrc evounow
Slide 24: Firsts with the Production of Renault Megane
§) WE ACHIEVED FIRSTS WITH THE PRODUCTION OF RENAULT MEGANE! JRO ANNUAL PRODUCTION 2023 £4 arsan | necrc evownow
Slide 25: Zero Emission vs Carbon Neutral
ZERO EMISSION ws CARBON NEUTRAL VEHICLE SALES PRODUCTION ec "or ae OF 50 SUPPLIERS WITH: . ‘aes av, ZERO EMISSIONS e = ; & : FG | , «| KARSAN | ELECTRIC EVOLUTION
Slide 26: «| KARSAN
«| KARSAN | ELECTRIC EVOLUTION
Slide 27: Our 2023 Goals - What Did We Say?
OUR 2023 GOALS - WHAT DID WE SAY? ELECTRIC“ EVOLUTION ; es I ei] = \|ohe Karsan | execrric > evowton
Slide 28: 2023 Realizations (before infl. acc.)
2023 REALIZATIONS (before infl.acc.) FLECTRIC EVOLUTION >| oleae od Rens) Kee) Ge) < KARSAN | ELECTRIC EVOLUTION
Slide 29: 2023 Realizations (after infl. acc.)
2023 REALIZATIONS (after infl.acc.) FLECTRIC EVOLUTION >| calenen CSC Ney, < KARSAN | ELECTRIC EVOLUTION
Slide 30: Key Income Statement Items (TL mn) (before infl. acc.)
KEY INCOME STATEMENT ITEMS (TL MN) (BEFORE INFL.ACC.) REVENUE 2.994 6.623 GROSS PROFIT 850 2.039 OPERATING PROFIT 761 | 1882 NET PROFIT sy 245 EBITDA 85] 2.002 C4 Karsan | erectric’— Evowtion
Slide 31: Key Income Statement Items (TL mn) (after infl. acc.)
KEY INCOME STATEMENT ITEMS (TL MN) (AFTER INFL.ACC.) REVENUE 5.361 7.824 GROSS PROFIT 727 1.568 OPERATING PROFIT 581 | 1.45] NET PROFIT -167 620 EBITDA 994 1.768 C4 Karsan | erectric’— Evowtion
Slide 32: %15 %41 %6 %36 %5 %1 %79 %7 %54 %5 %57 %84
%15 %41 %6 %36 %5 %1 %79 %7 %54 %5 %57 %84
Slide 33: Cash Flow (mn TL) (before infl. acc.)
> 2 CASH FLOW (MN TL) (BEFORE INFL.ACC.) (? EOE J . ‘ 2022 2023 >» Profit (Loss) for the Period » «| KARSAN | ELECTRIC EVOLUTION
Slide 34: Cash Flow (mn TL) (after infl. acc.)
CASH FLOW (MN TL) (AFTER INFL.ACC.) Profit (Loss) for the Period -167 620 Adjustments Related to Reconciliation of Net Profit (Loss) q -92 -738 for the Period Changes in Net Working Capital -590 1522 ~ Operational Cash Flow -849 1404 Cash Flows from Investing Activities -286 -429 Interest, Tax and O
Slide 35: Debt Status (before infl. acc.)
DEBT STATUS (BEFORE INFL.ACC.) MN TL Financial Debt Cash etc. Financial Investments Investment Credit in Cooperation Financial Net Debt EBITDA Equity c= ‘é 3.0 13 2022 2028 K4 karsan | eect EVOLUTION 2022 2023
Slide 36: Debt Status (after infl. acc.)
DEBT STATUS (AFTER INFL.ACC.) MN TL Financial Debt Cash etc. Financial Investments Investment Credit in Cooperation Financial Net Debt EBITDA Equity c= ‘é 43 15 2022 2028 K4 karsan | eect 5147 4251 74 1.027 178 : Ig 870 : 531 4226 = 2.575 994 1768 4715 5.278 0.9 0.5 2022 2023 EVOLUTION
Slide 37: Financial Debt
MN TL Financial Debt «| KARSAN | ELECTRIC EVOLUTION
Slide 38: Financial Debt Structure - 2023
FINANCIAL DEBT STRUCTURE - 2023 EUR Short : i ‘0 Long Term TRY %20 %32 Karsan | execrric > evowton
Slide 39: Financial Debt Structure (Post IFC)
FINANCIAL DEBT STRUCTURE (POST IFC) EUR Short ™ ti (1) Long Term TRY %54 %27 Karsan | execrric > evowton
Slide 40: 2015 2016 2017 2018 2019 2020 2021 2022 2023
2015 2016 2017 2018 2019 2020 2021 2022 2023
Slide 41: Investment Expenditures by Years (mn TL) (after infl. acc.)
INVESTMENT EXPENDITURES BY YEARS (MN TL) (AFTER INFL.ACC.) 5,361 7,824 8% 1 1768» go, i = 994 452 459 2022 2023 Revenues ~ EBITDA m Investment Exp. — Investment Exp./Revenues Karsan | execrric > evowton
Slide 42: Capacity Utilization Rates
CAPACITY UTILIZATION RATES /68.7 | es) 1 %31.1 “1 hii 2021 2022 2023 C4 Karsan | erectric’— Evowtion
Slide 43: Balance Sheet (mn TL) (before infl. acc.)
BALANCE SHEET (MN TL) (BEFORE INFL.ACC.) poy <S 10,002 “fi 6,301 %56 5,655 Current Assets 52 3,256 9, | %b8 3,085 Yuk 4.357 Non-Current Assets ‘ %57 3/6 i, %60 5/959 Short Term Liabilities %14 )) %29 1,739 *1S 1462 Long Term Liabilities 2022 %25 = 288! Equities NET OPERATING SS = 355 Sa 315 CAPITAL
Slide 44: Balance Sheet (mn TL) (after infl. acc.)
BALANCE SHEET (MN TL) (AFTER INFL.ACC.) — [a | 12,337 SS 12,730 Xs 2 ff %4a 5,430 %h5 5,766 Current Assets %56 «6,907 %55 6,964 Non-Current Assets 2 %hg 5,953 %47 5972 Short Term Liabilities %I4 1,669 *l2 1,480 Long Term Liabilities %38 4715 Yul 5,278 Equities 2022 2023 NET OPERATING AN -523 <2 -206
Slide 45: Our Targets
OUR TARGETS < KARSAN | ELECTRIC EVOLUTION
Slide 46: Entering New Markets with Karsan e-JEST RHD
ENTERING NEW MARKETS WITH KARSAN E-JEST RHD (RIGHT-HAND DRIVE) \ aS) IRELAND MALTA J >. AUSTRALIA ie < KARSAN | ELECTRIC EVOLUTION
Slide 47: £4 arsan | necrc evownow
£4 arsan | necrc evownow
Slide 48: wit ae Ww PECUUSTS |
wit ae Ww PECUUSTS | K4 karsan | ELECTRIC EVOLUTION
Slide 49: 2024 Targets
2024 TARGETS 5) COREY < KARSAN | ELECTRIC EVOLUTION FLECTRIC EVOLUTION 7A ~ vehicles Sales
Slide 50: Thank you
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Slide 51: Disclaimer
DISCLAIMER The information in this presentation has been provided by Karsan Otomotiv Sanayjii ve Ticaret A.S. (Karsan Otomotiv) from sources believed to be reliable; however, Karsan Otomotiv does not guarantee the accuracy, completeness or authenticity of such information. This presentation contains
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