Anadolu Hayat Emeklilik A.s. · BIST:ANHYT
Anadolu Hayat Emeklilik A.s — Investor Presentation (September 2025)
45 slides from Anadolu Hayat Emeklilik A.s's investor presentation, September 2025
Slide 1: Investor Presentation
Investor Presentation Istanbul, Türkiye – September 2025
Slide 2: Agenda
Agenda 1. Türkiye at a Glance 2. Our Markets • Private Pension System • Life Insurance 3. Corporate Profile 4. Financial Results 2
Slide 3: Türkiye at a Glance
Türkiye at a Glance
Slide 4: Türkiye at a Glance: Growing Economy / Urgent Need to Increase Domestic Savings
Türkiye at a Glance Growing Economy / Urgent Need to Increase Domestic Savings GDP Average Annual Growth* 7% 6% 5% 4% 3% 2% 1% 0% 1990-1999 2000-2009 2010-2019 2020-2024 Türkiye OECD Euro-19 Domestic Saving Rate (% of GDP)* Weight of Pension Funds in Household Savings (TRY billion)** 34% 25.000 7% 3
Slide 5: Türkiye at a Glance: Demographic Opportunity Window
Türkiye at a Glance Demographic Opportunity Window 2024 2050 Population by Age Population (millions) : 85.7 93.8 10,0% 8,0% Median Age : 34.4 44.8 6,0% 4,0% Fertility : 1.48 1.40* 2,0% Proportion of Elderly Population : 10.6% 23.1% 0,0% 2025 September 2023 2050 Population 15 Years And Over (thousand
Slide 6: Our Markets
Our Markets Private Pension System Life Insurance
Slide 7: Private Pension System: Positioned in Pillar III
Our Markets Private Pension System: Positioned in Pillar III Three-Pillar System Pillar I Pillar II Pillar III State Pension Occupational Private Pension Mandatory Pension Voluntary Securing a minimum Workplace Pensions Opportunity to standard of living with Auto Enrolment increase retirement starte
Slide 8: Pillar III Private Pension System: Important Features
Our Markets Pillar III Private Pension System: Important Features Funds are managed by Started in 2003. asset management 15 companies in 2025. companies. Defined contribution and Minimum retirement age: 56 voluntary participation. Completion of 10 years. Participants can switch funds, Incentives for
Slide 9: Pillar III Private Pension System: Well Designed Structure
Our Markets Pillar III Private Pension System: Well Designed Structure Regulation Administration Monitoring Capital Markets Pension Pension Board (SPK) Accounts Monitoring Center Administered by (EGM) Ministry of Treasury Pension and Finance Companies ISE Settlement and Custody Ministry
Slide 10: Pillar III Private Pension System: Incentives
Our Markets Pillar III Private Pension System: Incentives For Participants For Employers Contribution Stage Investment Stage Income Tax Benefits Employer contributions are • Contributions with a cap of • Investment income of deductible from tax base up to • Withholding tax applies annual legal minim
Slide 11: Pillar III Private Pension System: Charging Structure
Our Markets Pillar III Private Pension System: Charging Structure Management Fee / Entrance Fee Fund Management Fee First 5 years of the contracts No change in fund management fee levels. A new rebate structure came into force in 2021. Maximum limit: 8.5% of the Fund Management Fees (Annual) monthly
Slide 12: Pillar III Private Pension System: Fast Growing System
Our Markets Pillar III Private Pension System: Fast Growing System Pension AUM Growth (TRY billion) Number of Participants 2000 (Thousands) 12000 1800 YOY 63% YOY 7% 1600 CAGR 64% 10000 CAGR 9% 1400 1200 8000 1000 6000 800 600 4000 400 2000 200 0 0 2020 2021 2022 2023 2024 2024 2025 2020 2021 2022 2
Slide 13: Pillar III Private Pension System: Milestones and Pending Regulations
Our Markets Pillar III Private Pension System : Milestones and Pending Regulations Milestones Pension Fund Right to July 2024 Auto January 2024 January 2017 Private January 2013 State October 2001 January 2022 May 2021 July 2021 BEFAS Participants State Pension contribution Enrollment (Pension under
Slide 14: Pillar III Private Pension System: Big Growth Potential
Our Markets Pillar III Private Pension System: Big Growth Potential Pension Funds as a Percentage of GDP 0% 25% 50% 75% 100% 125% 150% 175% 200% 225% Denmark Pension Participants (Pillar III) Iceland Social Security Participants Switzerland 9.9 Million 25.6 Million Netherlands Canada United States A
Slide 15: Pillar III Private Pension System: Key Highlights
Our Markets Pillar III Private Pension System: Key Highlights Total Amount of Contributions Distribution of Contributions Key Figures* by Contract Type** by Marketing Channel** Participants : 9.94 Million Individual Participant Funds : TRY 1,525.6 Billion 82% Other State Contribution Funds : TRY 195
Slide 16: Private Pension System: Pension Funds
Our Markets Private Pension System: Pension Funds* Reverse Public Repo; 3.70% Borrowing; 17.80% Equities; Nominal & Real Investment Return of Pension 19.20% Funds 81% 65% 43% 48% 41% 27% 28% 11% 15% 13% 14% 12% 10% 13% Gold and 3% 2% 3% 5% 0% 2% Gold Backed Others; -5% -7% Capital 20.70% Market 2015
Slide 17: Auto Enrolment: Basic Features
Our Markets Auto Enrolment: Basic Features* Automatic Minimum State contribution: enrolment of contribution • 30% on contributions current and new amount • 1,000 TRY initial bonus • 5% of assets at employees set as annuity phase %3 of monthly wage Structural changes Gradual Simplified and implementa
Slide 18: Auto Enrolment System: Incentives
Our Markets Auto Enrolment System: Incentives For Participants Contribution Stage Investment Stage Retirement Stage • Additional state contribution equal to 5% of • Contributions with a cap of annual legal • Investment income of auto enrolment funds savings at retirement date is provided in minimum
Slide 19: Auto Enrolment System: Charging Structure
Our Markets Auto Enrolment System: Charging Structure Management Fee / Entrance Fee Fund Management Fee No management or entrance fee. Fund management fee level is capped. According to the Law enacted in Annual Fund Management Fee is August 2016, no management or capped at a maximum of 0.85%. entran
Slide 20: Auto Enrolment - New Target Market
Our Markets Auto Enrolment - New Target Market WORKFORCE* Social Security Participants * (4a&4c) : 22.3 Million Social Security Participants: 26.2 Million* Employed : 32.7 Million** Work Force : 35.8 Million** *Social Security Institution July, 2025 **Turkish Statistics Institute September, 2025 20
Slide 21: Life Insurance: Underpenetrated Market
Our Markets Life Insurance: Underpenetrated Market Life insurance market has great potentials in Türkiye. Türkiye’s life insurance market is extremely Insurance Premium per Capita (USD) underpenetrated as life premiums’ weight in GDP is only Global Comparison (2024) 1/20 of OECD average. Low penetra
Slide 22: Life Insurance
Our Markets Life Insurance Life Insurance GWP Life Insurance Total GWP (by Product Category) (TRY million) YoY (TOTAL) : 82% 112.000,00 111.000,00 110.000,00 109.000,00 106,379 Term Life : 66% Endowment/Saving : 33% 108.000,00 107.000,00 106.000,00 90.000.000.000 105.000,00 104.000,00 103.000,00 102
Slide 23: Corporate Profile
Anadolu Hayat Emeklilik Corporate Profile 23
Slide 24: At a Glance
Anadolu Hayat Emeklilik At a Glance Life and Private Private Pension Established in 1990 as a subsidiary of İşbank Contracts** AHE Mobile*** Pension Funds* 3.8 Million 2.8 Million users TRY 331.2 Billion First life insurance company in Türkiye The first publicly traded Life & Pension Company s
Slide 25: At a Glance
Anadolu Hayat Emeklilik At a Glance Headquartered in Istanbul I Organization 12 District Sales Offices Branch Office in TRNC HQ and Regions : 638 II Human Resources Direct Sales Team : 479 Total : 1,117 Total Assets : TRY 375,956 Million Shareholders’ Equity : TRY 11,052 Milion III Financial Metrics
Slide 26: Financial Highlights
Anadolu Hayat Emeklilik Financial Highlights (TRY Million) 2023 2024 Change(%) 2024 Q3 2025 Q3 Change (%) Total GWP and Net Contributions 20,945.7 40,045.4 91% 27,558.9 48,651.0 77% Life Mathematical Provisions 17,867.9 26,775.5 50% 25,169.7 39,015.2 55% Pension AUM 134,422.6 217,286.4 62% 202,396.5
Slide 27: Distribution Network
Anadolu Hayat Emeklilik Distribution Network 26 District Sales Offices 470 Agencies 1,019 Branches 680 Licensed Intermediaries 2,219 Licensed Intermediaries 233 Licensed Tele-Sales Agents Private Pensions New Business Channel Mix (Contributions) – 2025 Q3 Tele Sales 4.9% İşbank Agency İşbank 19.1% (
Slide 28: Company Portfolio
Anadolu Hayat Emeklilik Company Portfolio Company Portfolio Size (TRY Millions) Demand Deposit; 0.6% Investment Corporate Bonds 2,219 Funds; 23.6% Investment Funds 3,401 Corporate Bonds; 15.4% Goverment Goverment Bonds 2,252 Eurobonds; 4.1% Bonds; 15.6% Time Deposit 4,317 Custody Bank Money Market -
Slide 29: Strong Market Positioning in Private Pensions
Anadolu Hayat Emeklilik Strong Market Positioning in Private Pensions Participants (Pillar III) Assets Under Management (Pillar III) (TRY million) 16% 16% 16% 17% 16% 16% 17% 19% 18% 18% 18% 18% 18% 17% Market Share Market Share YOY 8% 1,648,136 350.000,00 298,896 1.695.000,00 1.690.000,00 1.685.000
Slide 30: Strong Market Positioning in Private Pensions
Anadolu Hayat Emeklilik Strong Market Positioning in Private Pensions Participants (Auto Enrolment) Assets Under Management (Auto Enrolment) (TRY million) 13% 14% 14% 14% 15% 15% 16% 10% 10% 11% 12% 13% 14% 14% Market Share Market Share YOY 4% 18.000,00 16,310 1,579,447 1.800.000,00 16.000,00 1,522,
Slide 31: Strong Market Positioning in Life Insurance
Anadolu Hayat Emeklilik Strong Market Positioning in Life Insurance Life Insurance GWP (TRY million) Term Life GWP (TRY million) 12% 10% 11% 17% 13% 10% 9% 8% 13% %11 %9 %11* 12% 12% Market Share* 9.000,00 Market Share* 8,740.2 16.000,00 14,557.9 8.000,00 6,996.2 YOY 74% 12,415.4 14.000,00 7.000,00
Slide 32: Statutory Financials
Anadolu Hayat Emeklilik Statutory Financials Life Technical Profit (TRY million) Pension Technical Profit (TRY million) 700,00 600,00 574.2 501.3 CAGR 1,631.7 1,682.1 CAGR%49 37% 500,00 419.7 1.800,00 1.600,00 400,00 1.400,00 1,081.8 289.6 941,8 1.200,00 300,00 192.7 1.000,00 800,00 200,00 145.5 141
Slide 33: Statutory Financials
Anadolu Hayat Emeklilik Statutory Financials Net Distributable Profit / Dividend to Shareholders (TRY Million) Dividend Payout Ratio (%) 4500 4,265 4000 3500 3000 2,737 69 2,500 64 2500 59 2000 1500 1,307 1,000 37 36 1000 686 510 440 500 500 360 0 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Ca
Slide 34: Statutory Financials
Anadolu Hayat Emeklilik Statutory Financials Technical Profit / Operating Expenses (TRY Million) Operating Expenses – 2025 Q3 7,440.7 8.000,00 7.000,00 6,290.2 Employee Benefit Expenses 6.000,00 5.000,00 27% Marketing Expenses 4.000,00 3,075.7 4% 3.000,00 Commission 2,132.2 2,206.5 2,257.6 Expenses
Slide 35: Statutory Financials: Summary of Income Statement
Anadolu Hayat Emeklilik Statutory Financials Summary of Income Statement (mio TRY) 2020 2021 2022 2023 2024 CAGR 2024 Q3 2025 Q3 YOY Non-Life Technical Profit / Loss -0.93 -1.85 -5.82 -2.53 -0.87 - -0.31 1.36 - Life Technical Profit / Loss 327.61 310.22 429.61 941.76 1,631.76 49% 1,081.84 1,682.06 5
Slide 36: Statutory Financials: Pension Technical Profit
Anadolu Hayat Emeklilik Statutory Financials Pension Technical Profit (mio TRY) 2020 2021 2022 2023 2024 CAGR 2024 Q3 2025 Q3 YOY Pension Technical Income 506.28 617.53 980.63 1,870.45 3,729.31 65% 2,689.15 4,058.65 51% 1- Fund Management Income 368.73 449.91 726.86 1,261.49 2,256.48 57% 1,602.58 2,
Slide 37: Statutory Financials: Life Technical Profit
Anadolu Hayat Emeklilik Statutory Financials Life Technical Profit (mio TRY) 2020 2021 2022 2023 2024 CAGR 2024 Q3 2025 Q3 YOY Life Technical Income 2,179.29 3,890.02 5,766.66 12,333.30 16,104.88 49% 11,616.60 20,372.39 75% 1- Earned Premiums (Net of Reinsurer Share) 1,665.37 1,909.07 3,188.25 6,264
Slide 38: Appendices
LAL ta Vis tit tthe SSS SV~~ APPENDICES ZF ANADOLU HAYAT EMEKLILIK
Slide 39: Lines of Business
Anadolu Hayat Emeklilik Lines of Business Lines of Business Pension Funds Conservative Balanced Dynamic Aggressive Non- Employer Income Private Individual Sponsored Sponsored Drawdown Pension Plans Group Group Plans Plans Plans • Money Market • Bond • First Debt • Equity • Conservative • Balanced In
Slide 40: Excellence In Customer Experience / Robust Infrastructure
Anadolu Hayat Emeklilik Excellence In Customer Experience / Robust Infrastructure Financial Systems Integrated BI and Transformation Reporting Platform (GL / FAH) (Atlas) Digitalization Operational Hardware Architecture Excellence Transformation (Exadata) Group Plans Process Automation Commission an
Slide 41: Awards
Anadolu Hayat Emeklilik Awards ARC Awards 2025 ISO 27001:2022 Certificate We were awarded the Honorary Award in the “Special Purpose Act ivity Report” category with our first Integrated Annual Report for 20 We have successfully completed the certification audit on 24 at the ARC Awards, organized by
Slide 42: Sustainability
Sustainability Corporate Social Responsibility International and Local Memberships Employee Experience* • Since 2007, we have been organizing the photo • Female employee rate 58%* • The first and only UNEP-FI member of Turkish insurance contest "Shot's From Life As Seen By Women", • Female employees
Slide 43: Sustainability
Sustainability Support for renewable energy – Anadolu Hayat Emeklilik enters BIST Sustainability Report Compliant with GRI Standards Sustainability Index Carbon neutral company We continue to be in the index, which we entered in Starting from 2016, we have been offsetting our We publish our sustaina
Slide 44: Sustainability
Sustainability Effective governance structure in sustainability activities… Senior level commitment in sustainability management... 44
Slide 45: www.anadoluhayat.com.tr
www.anadoluhayat.com.tr investorrelations@anadoluhayat.com.tr DISCLAIMER The information in this document has been obtained by Anadolu Hayat Emeklilik A.Ş. from sources believed to be reliable, however, Anadolu Hayat Emeklilik A.Ş. cannot guarantee the accuracy, completeness or correctness of such i
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