Haci Omer Sabanci Holding A.s. · BIST:SAHOL
Haci Omer Sabanci Holding A.s — Hacı Ömer Sabancı Holding A.Ş. — Q3 2025 Earnings Presentation
27 slides from Haci Omer Sabanci Holding A.s's earnings presentation, Nov 5, 2025
Slide 1: Earnings Presentation Q3/9M 2025
Earnings Presentation Q3/9M 2025 Most Honored Company in Emerging EMEA Industrials Extel November 5, 2025 2025
Slide 2: Disclaimer
Disclaimer The information and opinions contained in this document have been compiled by Hacı Ömer Sabancı Holding A.Ş. (“Holding”) from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctne
Slide 3: Strategic Highlights and Financial Highlights
Strategic Highlights Financial Highlights Continued strategic progress through disciplined execution Resilient performance via leveraging portfolio mix and strict cost discipline Key Developments (H2’25) Financial Resilience (Q3’25 & 9M’25) ๏ Combined Revenue Growth: 1% increase yoy in 9M’25, 3% dro
Slide 4: Combined Financials Q3/9M 2025
Combined Financials Q3/9M 2025 Results 01 /03
Slide 5: Policy easing with measured steps at home, amid persistent global risks
Policy easing with 350 Geopolitical Risk Index 4500 4000 Trade Policy Risk Index measured steps 300 250 3500 3000 at home, amid 200 2500 2000 persistent global 150 1500 100 1000 risks 50 500 0 0 2020 2021 2025 2016 2022 2023 2024 2011 2012 2017 2018 2019 1985-2010 2013 2014 2015 Sep 24 Dec 20 Sep 20
Slide 6: Effective financial management led to substantial bottom-line swing
Effective financial management led to substantial bottom-line swing Combined Revenue (TL bn)(1) Combined EBITDA (TL bn) Consolidated Net Income/Loss (TL bn) 12.8% -3% 12.5% 405.4 -2% 393.5 19% 39.9 210.5 74% 206.8 0.7 33.5 16.0 1.3 9.2 0.0 -4% -2% -0.6 -3.8 194.9 186.7 24.3 23.9 -3.8 Q3 2024 Q3 2025
Slide 7: Strong non-bank operational execution and disciplined cost management led to margin gain
Strong non-bank operational execution & disciplined cost management led to significant margin gain Combined Revenue (TL bn)(1) Combined EBITDA (TL bn) Consolidated Net Income/Loss (TL bn) 12.5% 1% 11.1% -1% 5% 1,145.3 1,161.2 208 123.1 170 -11% 122.1 0.4 605.7 633.6 -1.2 139 63.2 56.4 -4.5 -0.8 151.
Slide 8: OCF maintained with solid EBITDA and disciplined cash flow management
OCF maintained with solid EBITDA & Return on Equity disciplined cash flow management… Bank Non-Bank Consolidated 7.0% Operational Cash Flow, Combined & Non-bank (TL bn)(1) -1.5% -5.1% 11.2% 74.0 1.7% -0.2% 63.3 -2.3% 53.0 52.6 -4.0% -9.7% 2023 2023 2023 20242024 2024 9M 2025 9M 2025 9M 2025 Bank Non
Slide 9: A healthy balance sheet for flexible strategic execution
...providing a healthy balance sheet Non-Bank Capex/Sales (3) for flexible strategic execution 13.5% Net Financial Debt to Non-Bank EBITDA(1) Holding Only - Net Cash (TL bn)(2) 12.6% 12.0% 11.4% Policy: ≤ 2x 12.4 12.0 1.7x 1.4x 7.0 0.7x 2023 2024 9M 2025 2023 2024 9M 2025 2023 2024 9M 2024 9M 2025 (
Slide 10: Attractive discount amid macro headwinds
Attractive discount amid macro headwinds NAV (USD bn) & NAV Discount(1) October 2025 10.6 Energy & Climate Material Technologies 9.4 Technologies 16% 8.7 37% 56.6% 54.7% Digital USD9.4bn 1% 46.0% Other 6% Cash 3% Dec 2024 Apr 2025* Oct 2025 Banking & NAV (USDbn) NAV Discount Financial Services 37% (
Slide 11: Segment Financials
segment mek LL _—_ Financials st IP 02 /o3
Slide 12: Bank / Strengthened sustainable revenue streams
Bank / Strengthened sustainable revenue streams Current Assessment Net Fee Income Market Share(1) (%) Fee /Opex (%) ๏ While growing preserved robust solvency with 17.2% CAR(2) & 13.6% Tier 1(2) which +18pp enables sustainable and profitable growth 17.8 ๏ Achieved strong loan growth with across- 16.4
Slide 13: Bank / Net interest income provides support to core revenues
Bank / Net interest income provides support to core revenues % Q2 2025 Q3 2025 Change 9M 2024 9M 2025 Change Leverage 11.5x 11.6x +0.1x 10.4x 11.6x +1.2x CIR(1) 58.2% 58.2% - 56.7% 52.4% -4.3 pp CAR(2) 17.4% 17.2% -0.2 pp 17.2% 17.2% - Tier-1(2) 13.8% 13.6% -0.2 pp 14.6% 13.6% -1.0 pp % Q2 2025 Q3 2
Slide 14: Financial Services / GWP growth in life continues
Financial Services / GWP growth in life continues, yet selective focus on profitable products prevailed in non-life Current Assessment Life, PA & Medisa GWP(1) (TL bn) Pension AUM(2) (TL bn) Life: 23.3 20% ๏ Leadership in both Private Pension AuM and 52% 336.0 Life & PA premium production among 279
Slide 15: Financial Services / Sharp improvement in net income
Financial Services / Sharp improvement in net income as non-life’s contribution gained momentum post restructuring Financial Services Segment Summary Financials(1) MILLION TL Q3 2024 Q3 2025 Change 9M 2024 9M 2025 Change SALES 19,528 16,379 -16% 55,030 49,200 -11% EBITDA 2,161 2,604 21% 3,767 6,904
Slide 16: Energy / Higher generation volumes with additional wind capacities
Energy / Higher generation volumes with additional wind capacities, distribution gains from efficiency & quality Current Assessment Generation volume (TWh) Distribution & Retail: 11.1 Spot Prices vs BOTAŞ Tariff +18% ๏ Distribution continued to drive operational 9.4 21% Spot Prices (TL/MWh) BOTAŞ Ta
Slide 17: Energy / Distribution drove EBITDA growth
Energy / Distribution drove EBITDA growth, while generation further strengthened both topline and bottom-line Energy Segment Summary Financials(1) MILLION TL Q3 2024 Q3 2025 Change 9M 2024 9M 2025 Change SALES 96,578 91,693 -5% 244,726 247,489 1% EBITDA 14,258 14,045 -2% 37,621 43,217 15% EBITDA MAR
Slide 18: Material Technologies / Tire margins and composites' contribution up
Material Technologies / Tire margins and composites’ contribution up on sales mix; domestic rebound supports building materials Current Assessment Building materialst: ๏ Akçansa gained domestic momentum QoQ, Total Cement Volumes (1) Domestic Cement Total Cement Volumes while Çimsa’s international op
Slide 19: Material Technologies / Margin contraction in building materials
Material Technologies / Margin contraction particularly in building materials due to last year’s high base, higher monetary gains & lower tax expenses supported bottom-line Material Technologies Summary Financials(1) MILLION TL Q3 2024 Q3 2025 Change 9M 2024 9M 2025 Change SALES 34,594 36,784 6% 111
Slide 20: Digital & Other / Weak consumer demand weighed on results
Digital & Other / Weak consumer demand weighed on results, while alternative & online channels partially offset the impact Current Assessment Retail Electronics Gross Margin Retail Electronics EBITDA Margin Digital: ๏ EBITDA improvement driven by contributions 6.3% +1.3pp 13.7% +2.0pp from cloud bus
Slide 21: Digital & Other / Mixed operating performance
Digital & Other / Mixed operating performance coupled with ongoing pressure from financial expenses Digital Segment Summary Financials(1) MILLION TL Q3 2024 Q3 2025 Change 9M 2024 9M 2025 Change SALES 1,139 990 -13% 2,828 3,815 35% EBITDA -39 51 n.m. -412 32 n.m. EBITDA MARGIN -3% 5% n.m. -15% 1% n.
Slide 22: Strategic Highlights and Financial Highlights
Strategic Highlights Financial Highlights Continued strategic progress through disciplined execution Resilient performance via leveraging portfolio mix and strict cost discipline Key Developments (H2’25) Financial Resilience (Q3’25 & 9M’25) ๏ Combined Revenue Growth: 1% increase yoy in 9M’25, 3% dro
Slide 23: Appendix
Appendix 03 /03
Slide 24: Dividend Performance
Dividend Performance MILLION TL 2021 2022 2023 2024 2025 Akbank 255 494 3,666 4,063 2,589 Akçansa 42 36 99 457 477 Aksigorta 110 - - - - Agesa 64 - 60 120 400 Brisa 107 270 479 452 283 Carrefoursa - - - - - Çimsa - 109 218 545 327 Kordsa - 114 41 - - Teknosa - - - - - Enerjisa Enerji 454 586 1,087 1
Slide 25: Financials in Detail
Financials in Detail Combined Revenue(1) Combined EBITDA Consolidated Net Income/Loss MILLION TL Q3 2024 Q3 2025 Change 9M 2024 9M 2025 Change Q3 2024 Q3 2025 Change 9M 2024 9M 2025 Change Q3 2024 Q3 2025 Change 9M 2024 9M 2025 Change TOTAL 405,449 393,504 -3% 1,145,277 1,161,214 1% 33,471 39,898 19
Slide 26: Sabancı Holding NAV After Independent Valuation Reports
Sabancı Holding NAV After Independent Valuation Reports USD mn October 2025 December 2024 Companies Free Float Direct Stake Valuation Method Mcap Value to Sabancı Holding % of NAV Value to Sabancı Holding % of NAV Akbank 54% 41% Market value 7,547 3,075 32.6% 3,895 36.8% Enerjisa Enerji 20% 40% Mark
Slide 27: Investor Relations
Meet SirA, Sabancı Holding's digital Capital Markets Investor Presentation - ir.sabanci.com investor relations assistant ! Day 2024 Group Strategy Türkiye’s First Investor Relations Dedicated Assistant ! SBU Presentation – Energy & Earnings 2024 Annual Climate Technologies Presentation Report Kerem
Hacı Ömer Sabancı Holding A.Ş. — Q3 2025 Earnings Presentation on 6ix