Petkim Petrokimya Holding Anonim Sirketi · BIST:PETKM
Petkim Petrokimya Holding Anonim Sirketi — Petkim Petrokimya Holding A.Ş. — Q2 2026 Earnings Presentation
34 slides from Petkim Petrokimya Holding Anonim Sirketi's earnings presentation, August 2026
Slide 1: 2Q26 Results Investor Presentation
2Q26 RESULTS INVESTOR PRESENTATION AUGUST 2026
Slide 2: Welcome to Our Earnings Presentation
Welcome to Our Earnings Presentation Page 03-04 2Q26 FINANCIAL HIGHLIGHTS Page 05-11 INDUSTRY ENVIRONMENT Page 12-23 OPERATING & FINANCIALS RESULTS Based on its production-based Page 24-26 sales performance in 2025, STAR REFINERY Petkim ranked 33rd among Earnings Presentation 2Q26 Türkiye's Top 500
Slide 3: Financial Highlights
Sales FINANCIAL HIGHLIGHTS ₺36.4 BN 26% QoQ EBITDA Net Income ₺3.42 BN 9% Margin 690% QoQ ₺4.1 BN 1,61 TL/Share 1146% QoQ Earnings Presentation 2Q26 Cash Net Debt ₺6.2 BN 0,6x Current Ratio 36% QoQ ₺48.0 BN 4% QoQ 3
Slide 4: 2Q2026 Highlights
2Q2026 Highlights 01 Strongest quarterly performance in profitability since the introduction of inflation accounting USD73.4mn EBITDA was recorded, supported by stronger polymers, aromatics and liquid product margins 02 Value creation continued through STAR Refinery integration Feedstock supply secu
Slide 5: Industry Environment
INDUSTRY Earnings Presentation 2Q26 ENVIRONMENT Global Petrochemical Market Petrochemical Market in Türkiye 5
Slide 6: Industry Environment: ethylene-naphtha spread and Platts index
Monthly ethylene - naphtha spread (CIF MED spot prices) USD/ton Industry Environment 619 577 352 312 331 305 308 257 237 198 232 210 210 European ethylene markets 180 181 128 159 strengthened materially during the 227 72 second quarter, driven primarily by supply-side disruptions rather than Jan Feb
Slide 7: Key trends in the industry
Industry Environment Key trends in the industry Product groups spread (over naphtha CIF MED) USD/MT Geopolitical developments reshaping trade flows Persistent global overcapacity 900 Weak end-market demand 800 Supply-side disruptions 700 600 Petrochemical markets strengthened significantly during th
Slide 8: Product groups spread over naphtha
Industry Product groups spread Environment (over naphtha CIF MED), USD/MT Polymers Fibers 1200 1400 HDPE LDPE PP PVC MEG ACN PTA DEG 1000 1200 1000 800 800 600 600 400 400 200 200 0 0 Apr-25 Jun-25 Aug-25 Oct-25 Dec-25 Feb-26 Apr-26 Jun-26 -200 Apr-25 Jun-25 Aug-25 Oct-25 Dec-25 Feb-26 Apr-26 Jun-26
Slide 9: PETKIM Spread Better Reflects Underlying Margin Dynamics
PETKIM Spread Better Reflects Underlying Margin Dynamics Product groups spread (over naphtha CIF MED) USD/MT Weighted Average Weighted Average Weighted Average Margin proxy Petkim Market Naphtha Spread Price FOB MED The Petkim spread provides a 700 more representative view of the Company’s margin st
Slide 10: PETKIM Spread calculation
PETKIM Spread calculation Enhanced Financial Performance Visibility Weight within Q1 2026 Q2 2026 1H 2026 Product Group Product gross profit* PETKIM spread (USD/ton) A 325 547 436 Sales quantity from production (k tons) B 405 428 833 LDPE 19% PETKIM spread calculation (mn USD) A*B 132 234 363 LDPE-T
Slide 11: Türkiye's Petrochemical Sector Overview
Türkiye’s Petrochemical Petrochemical consumption in Türkiye (k tons) Sector Overview Domestic consumption Petkim domestic sales 3.000 2.507 2.500 2.362 2.304 2.294 2.000 1.948 1.500 Surplus (k tons) 1.000 Türkiye domestic demand is primarily met by imports 500 228 231 264 276 257 0 Arom 2Q25 3Q25 4
Slide 12: Operating & Financial Results
OPERATING & FINANCIAL RESULTS Earnings Presentation 2Q26 12
Slide 13: Capacity Utilization & Gross Production
Capacity Utilization Capacity utilization rates (%) Thermoplastics Ethylene Other Aromatics Fiber & Gross Production 100% 90% 87% 87% 93% 89% 171% 78% 151% 90% 82% 80% 131% 70% 75% 74% 75% 111% 60% 91% 50% 97% 88% 92% 97% 40% 83% 71% 51% 30% 20% 18% 18% 18% 14% 17% 31% 12% 11% 10% 8% 12% 0% 0% 0% -9
Slide 14: Petrochemical Product Sales
Petrochemical Product Sales Breakdown of petchem sales (USD mn) Thermoplastics Fiber Aromatics Other Trade Breakdown by percentage in 2Q26 240 31% 30% 171 151 176 175 Total petchem sales 203 Earnings Presentation 2Q26 $782mn 148 116 123 104 103 86 66 81 87 8 12 11 4 13% 210 210 236 202 203 26% 2Q25
Slide 15: Breakdown of Sales
Breakdown of Sales Sales volume (k tons) Total volume: 157 Revenue breakdown (%) 96 73 Other 50 584k tons 30 38 27 31 7 23 25 30 2% Export PVC LDPE HDPE C5 PP Benzene Arom Naphtha C4 PS Propylene P-X Others Trade 48% Total revenue: Revenue (TRY mn) Domestic 8.724 6.658 6.115 50% ₺36,416mn 392 1.866
Slide 16: Breakdown of Total COGS
Breakdown of Total COGS Inventory gain/loss (w/o IAS 29) COGS breakdown (%) (USD mn) Other Trade Depreciation Labour costs Energy Raw materials Inventory gain/loss Naphtha prices 30,0 900 819 789 25,0 800 6% 33% 20,0 700 687 679 28% 15,0 25 600 5% 509 522 503 512 506 515 500 499 503 6% 10,0 6% 5% 46
Slide 17: Feedstock vs. Product Prices of PETKIM
Feedstock vs. Product Prices of PETKIM Thermoplastics and naphtha spread Petchem unit margins USD/ton USD/ton 1.600 400 341 1.939 1.985 350 3.000 1.400 1.400 300 1.713 1.200 1.200 1.374 2.500 203 250 197 1.369 1.305 1.303 1.326 1.311 1.262 1.000 1.000 200 2.000 1.178 1.141 1.149 1.137 141 1.111 800
Slide 18: Income Statement
PETKIM 2Q26 TRY mn Q1’26* Q2’26 QoQ Δ (%) Income Sales 28,888 36,416 26% Cost of sales (28,883) (33,293) 15% Statement Gross profit 5 3,123 67731% Gross profit % 0% 9% - Marketing and sales expenses (544) (559) 3% General administrative expenses (1,183) (1,210) 2% Operating profit (1,722) 1,354 (179
Slide 19: EBITDA boosted by favorable pricing delta
EBITDA was significantly boosted by a favorable pricing delta (TRY mn) Pricing delta ₺4.318mn 7.074 443 322 (2.756) (382) (766) 3.420 (949) Earnings Presentation 2Q26 433 Q1'26 Price Raw Material Volume and OpEx FX Inventory Other* Q2'26 Efficiency 19
Slide 20: 6M26 Balance Sheet
TRY mn 3M’26* 6M’26 QoQ Δ (%) PETKIM 6M26 Cash and cash equivalents 4,592 6,226 36% Balance Sheet Trade receivable 18,670 17,235 (8%) Inventory 8,498 12,149 43% Other receivables 0 0 (73%) Other current assets 4,601 6,129 33% Current assets 36,361 41,739 15% Non current assets 140,042 139,696 0% As
Slide 21: Liquidity Highlights
Liquidity Highlights Cash Portfolio (%) Maturity profile (USD mn) 8% USD TRY EUR Long term Short term 383 31% USD134 mn 61% 123 510 4 119 2026 2027 2028 Cash flow from operations and CAPEX(USD mn) Net debt position (USD mn) CAPEX CFO 122 80 Earnings Presentation 2Q26 1.080 53 100 33 70 50 1.060 -10
Slide 22: FY2026 Guidance
FY2026 Guidance PETKIM SPREAD PRODUCTION VOLUME SALES VOLUMES ~USD402 yearly ~2.6mn tons ~2.1 mn tons average ~USD409 for the second half includes approximately 480k supported by domestic of the year tons of captive consumption, demand and strong primarily ethylene trading capability EBITDA CAPEX ~U
Slide 23: Master Plan project
Master Plan project is expected boost Turkish economy through reducing import dependency, increased supply security, and increased employment Current (2025) and post-Master Plan (2032) capacities in KTA, Market share and import dependency in % ~USD5BN total investment Market Market Import Import Cur
Slide 24: STAR Refinery
STAR REFINERY Earnings Presentation 2Q26 24
Slide 25: STAR Refinery
STAR Refinery 13mn tons $6.7bn One of the most digitalized refinery REFINING CAPACITY TOTAL INVESTMENT VALUE in the world ~20% 28-36 API TÜRKİYE MARKET SHARE PROCESSING RANGE Production Capacity Diesel STAR Refinery is Türkiye’s first (mn tons) Naphtha privately constructed refinery Jet Fuel Reforma
Slide 26: STAR Refinery Operating and Financial Highlights
STAR Refinery Operating and Financial Highlights Q2 2026 Figures Capacity utilization Crude processed (per year) Leveraging the integration with Petkim, aromatic 99% 13mn tons heavy naphtha was blended into the jet fuel pool, enabling the refinery to benefit from elevated jet cracking margins Produc
Slide 27: Sustainability & ESG
SUSTAINABILITY & ESG Earnings Presentation 2Q26 27
Slide 28: Sustainability Strategy: Climate/CO2 Targets
Our Sustainability Strategy Will be Built on Two Pillars - Climate/CO2 Targets Short-term Mid-term Long-term 2026-2030 2030-2040 2040-2050 ๏ Increase energy efficiency ๏ Develop internal carbon pricing approach for ๏ Achieve long term through optimization projects future investments to effectively i
Slide 29: Petkim's Sustainability Indices and ESG Agencies
Petkim’s Sustainability Indices and ESG Agencies ESG Rating: B Most recently rated in March 2026 Best Corporate Governance World Finance Petkim became the first company in the 2024 petrochemical industry to be included ESG Rating: 3.4/5 in the BIST Sustainability 25 Index in 2023 56/452 Out of Chemi
Slide 30: Supporting Slides
SLIDES SUPPORTING Earnings Presentation 2Q26 30
Slide 31: Petrochemical Complex Flow Chart
Petrochemical Complex Flow Chart Petkim has fully integrated operations LDPE (350,000 ton/year) Bag, greenhouse covers, film, cable, toys, pipes, bottles, hose, packaging HDPE (96,000 ton/year) Construction and water pipes, packaging film, toys, bottles, soft drink crates, barrels Ethylene MEG (89,0
Slide 32: PETKIM Stock Performance
PETKIM Stock Performance Unit mn Petkim Volume PETKM TI Equity XU100 Index 400 150 350 300 130 250 110 200 90 150 100 70 50 50 0 Earnings Presentation 2Q26 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Closing pri
Slide 33: Disclaimer
Disclaimer This presentation does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Petkim Petrokimya Holding A.Ş. (the “Company”) or any member of its group nor should it or any part of it form
Slide 34: Earnings Presentation 2Q26
petkim.com.tr Earnings Presentation 2Q26 Scan QR Code to See more 34
Petkim Petrokimya Holding A.Ş. — Q2 2026 Earnings Presentation on 6ix