Turk Traktor Ve Ziraat Makineleri A.s. · BIST:TTRAK
Turk Traktor Ve Ziraat Makineleri A.s — FY2024 Earnings Presentation
37 slides from Turk Traktor Ve Ziraat Makineleri A.s's earnings presentation, Feb 13, 2025
Slide 1: Investor Presentation
GAKos AP 2 e a) = 4 _ ZS ‘jas 4 wy INVESTOR PRESENTATION 13.02.2025 TiirkTraktor TiirkTraktor gag CNH
Slide 2: Disclaimer
DISCLAIMER With the Capital Markets Board of Turkey’s Bulletin dated 28.12.2023 numbered 2023/81, CMB announced that issuers and capital market institutions shall prepare their annual financial statements ending on 31.12.2023 or later, in accordance with IAS 29 inflationary accounting provisions. Ac
Slide 3: Corporate Structure
CORPORATE STRUCTURE — : Total 2,571 employees** 1,876 shop-floor employee | 54,000 units 695 office employee tractor production capacity* Established in 1954 Shareholder Structure (OVO) Koc Founded in 1926, Kog Holding is BORSA _ Free Float CNH CNH Industrial is a one of the leading Y Turkey's large
Slide 4: Plants & Facilities
GAKog Ankara Factory Engine, Transmission and Axle Manufacturing Center CE Manufacturing Center Opening : 25.06.1954 Indoor Area : 82,000 m? Total Area : 257,325 m? Izmir CE Facility Opening : 18.09.2014 Indoor Area : 3,157 m? Total Area : 6,396 m? PLANTS & FACILITIES Erenler Factory Paint shop and
Slide 5: Position within CNH Industrial
Position within CNH Industrial The sole design and production center of New Holland TD and Case IH JX series tractors in the world The sole production center of New Generation Utility Medium series transmissions in the world The sole production center of Utility Light series tractors and transmissio
Slide 6: Investment Highlights
INVESTMENT HIGHLIGHTS ° 1 Leading tractor manufacturer with diversified product range o ros The largest tractor producer in Turkey with 54K tractor capacity Sustainable growth 3 Good shareholder returns Vertically integrated operation 4 Tractor market leader for the last almost consecutive 18 years
Slide 7: TürkTraktör at a Glance
TURKTRAKTOR AT A GLANCE 7 Tractor ____ i _Tractor Manufacturing (unit) ____ i _Tractor Manufacturing (unit) 43,611 44,490 O22, 588 a 3,556 2,378 _—_ es © Total Tractor Sales (unit mlmport Tractor mDomestic Tractor +m Export 51,865 2023 2024 SS 1 wa © Total Revenue (nition TL) 84,367 2023 2024 2023 2
Slide 8: Value Created for Our Shareholders
VALUE CREATED FOR OUR SHAREHOLDERS ‘ @ Foreign Ownership in Free Float (%) @i Stock Chart 5 = 5 & = 26,70 PSP gh sh gh hah gh wha ak gh gh IS, EELS SSS EEL ESL S. LPLELS LESS Pew a sr Pv a y v o. oes PPPS SSK SPP PLS PPS SHS S are RK eos COS SAK eS SN OSs OS SSP —TirkTraktér —BIST- 100 —BIST-30 —BIS
Slide 9: Tractors: New Holland and Case IH
§% NEW HOLLAND GAKog Local Tractors (55HP-145HP) Import Tractors (130HP-300HP) he oie TRACTOR ° * TiirkTrakt6r has continued to be the first choice of farmers as the uninterrupted market leader in the Turkish tractor (CASE! I] > market for the 18 years, with the broadest sales and after- 4 Local Tra
Slide 10: Construction Equipment
CONSTRUCTION EQUIPMENT , > * TiirkTrakt6r, which stepped into the construction 4q CASE CONSTRUCTION 2g CONSTRUCTION - ipment industry in 201 he distributor of n ; Light Construction Equipment equipment industry in 20 CSU eo 0 ee d Light Construction Equipment New Holland branded construction equipme
Slide 11: Agricultural Equipment
GAkoe AGRICULTURAL EQUIPMENT QY NEW HOLLAND | x | ae Agricultural Equipment — Equipment Vv ¢ Agricultural equipment covers the widest range in Turkey of actively used products in all processes, starting with tillage, planting, spraying, fertilizing, and then harvesting and transporting. + In the agr
Slide 12: Market Position of Our Brands
GA Kos Market leader for almost 18 years in a row 35.8%* market share The largest dealer network covering all regions Wide customer portfolio STRUCTION MARKET POSITION OF OUR BRANDS Q% NEW HOLLAND «2% brand in the market * 10.5%* market share ¢ Weare strengthening our position in the construction eq
Slide 13: Dealer Network Map
BARTIN KIRKLARELİ KASTAMONU SİNOP İSTANBUL EDİRNE ZONGULDAK KARABÜK ARTVİN SAMSUN ARDAHAN TEKİRDAĞ KOCAELİ DÜZCE RİZE ORDU TRABZON YALOVA SAKARYA AMASYA GİRESUN BOLU ÇANKIRI KARS ÇORUM TOKAT BAYBURT BİLECİK GÜMÜŞHANE ÇANAKKALE BURSA ERZURUM IĞDIR KIRIKKALE ANKARA ERZİNCAN BALIKESİR YOZGAT ESKİŞEHİR
Slide 14: Dealer Network Map
14 BARTIN KIRKLARELİ KASTAMONU SİNOP İSTANBUL EDİRNE ZONGULDAK KARABÜK ARTVİN SAMSUN ARDAHAN TEKİRDAĞ KOCAELİ DÜZCE RİZE ORDU TRABZON YALOVA SAKARYA AMASYA GİRESUN BOLU ÇANKIRI KARS ÇORUM TOKAT BAYBURT BİLECİK GÜMÜŞHANE ÇANAKKALE BURSA ERZURUM IĞDIR KIRIKKALE ANKARA ERZİNCAN BALIKESİR YOZGAT ESKİŞEH
Slide 15: Koç
15 Kog TiirkTraktor CNH
Slide 16: Turkish Agriculture Sector
TURKISH AGRICULTURE SECTOR v Turkey’s Turkey’s Share in 6° Share nd 4. 6% agricultural 8 7 agricultural 1 ‘ GDP 0 the total 0 economy in (as of 2023) economy in (as of 2023) (esof3az024) | employment (as of 302024) the World Europe Agricultural Production 2023-2024 (milion ton) gl-\eldeotease m™ 202
Slide 17: Agricultural Support Programs in Turkey
AGRICULTURAL SUPPORT PROGRAMS IN TURKEY ? TiirkTraktor
Slide 18: Agricultural Support Programs in Turkey
AGRICULTURAL SUPPORT PROGRAMS IN TURKEY y Agricultural Subsidy Payments (ition 11) Agricultural Investment Supports ition 11) 63% 164.1 47% increase increase VP 0 100.6 . 6 41.3 21.9 23.0 25.1 17.0 121 mH all s i anai a 7 7 7 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025 Budg
Slide 19: Consumer Finance
CONSUMER FINANCE TiirkTraktor
Slide 20: Consumer Finance
CONSUMER FINANCE y Interest Rates * Ziraat Bank is in a competitive position with a post-subsidy 4 <4 Ziraat Bankasi interest rate of 22.5%. Ziraat Bank loan usage was 19.3% as 2024. 4 73 j Financing Distribution of TiirkTraktor's Sales Dec 21 Aug 22 Sep 22 Oct 22 Nov 22 Jun 23 July 23 Aug 23 Sep 23
Slide 21: TürkTraktör Finance
TURKTRAKTOR FINANCE TurkTraktor ges Finans TiirkTraktor
Slide 22: TürkTraktör Finance
TURKTRAKTOR FINANCE y |, Aimed to enable farmers to have new tractors through the ¥, alternative financial solution and to support the increase of Y mechanization and modernization of agriculture All Financial Solutions TiirkTraktor Undera mam Finans Single Roof Om Covers tractor, agricultural equip
Slide 23: Highlights of Turkish Tractor Market
HIGHLIGHTS OF TURKISH TRACTOR MARKET a GAKos TiirkTraktor CN4
Slide 24: Highlights of Turkish Tractor Market
Total Tractor HIGHLIGHTS OF TURKISH TRACTOR MARKET Tractors older than 35 years 48% : Ratio of the Actively used tractors >24 Tractor years GA Kos Turkey was the 4" biggest tractor market in the world in the 2024 *Source: Association of Turkish Insurance and Reinsurance Companies TiirkTraktor CNH 24
Slide 25: Global Tractor Market
GLOBAL TRACTOR MARKET i f \ \ —— 1 inn ia = \V a 4 _ “= eZ) — f —Z GAKos TiirkTraktor
Slide 26: Global Tractor Market
GLOBAL TRACTOR MARKET , Total Global Market (thousand unit) 6m 2022 | 2023 | 2024 Important Export Markets 560 549 484 HH North America 302 278 241 Europe 163 156 137 Other 95 114 106 1 India 912 915 910 i China 281 224 224 Wm Turkey 67 78 64 © Brazil 52 49 47 wy Pakistan 44 42 40 World Total 1,916
Slide 27: Export
EXPORT y “Tractor Export from Turkey* (unit) _2TiirkTraktér’s Export unit) Suoetamaor tal Tink Trak 22,472 -6% decrease 20,148 =-299 17,095 ~~ 16,016 at decrease a a - 2022 2023 2024 2022 2023 2024 17,106 » TiirkTraktér’s Share in Export* TiirkTrakt6r is an international player that exports to more
Slide 28: Production
PRODUCTION r GAKos TiirkTraktor CN4
Slide 29: Tractor Production in Turkey & TürkTraktör
TRACTOR PRODUCTION IN TURKEY & TURKTRAKTOR za Oks Tractor Production of Turkey* (unit) ke TiirkTraktér’s Production (unit) =Total =m TiirkTraktér oan a 15% i ines -15 Yee decrease 51,423 79,478 72,562 rN 611 7 il 2022 2023 2024 2022 2023 2024 * Updated after adding Same-Deutz's production figures fo
Slide 30: Market Position
30 77,899 66,942 Market 63,546 Market 2023 2024 Position Position New Holland 27,124 1. 22,729 1. Case IH 7,435 2. 6,651 2.
Slide 31: Sales of TürkTraktör
6% Tractor Sales of TiirkTraktér (unit) SALES OF TURKTRAKTOR Timport @Local = Export )> Locally produced tractor sales decreased by 11% = = 34,984 in 2024. oo 31,222 Import tractor sales decreased by 13% in 2024. In 2024 export tractor sales decreased by 22% comparing to 2023. 2022 2023 2024 Sa. Con
Slide 32: Financial Results
GAkoe FINANCIAL RESULTS YY we TiirkTraktor CNH
Slide 33: Income Statement
GA Kos INCOME STATEMENT Income Statement IAS 29 (TL mils.) Total Sales Domestic Sales Export Sales Gross Profit Margin Operating Income Margin EBITDA Margin Profit Before Tax Margin Net Income Margin 2023 84,367 64,689 19,678 22,510 26.7% 17,344 20.6% 19,048 22.6% 17,523 20.8% 13,488 16.0% TiirkTrak
Slide 34: Balance Sheet & Cash Flow Statement
GAKos BALANCE SHEET & CASH FLOW STATEMENT Balance Sheet IAS 29 (TL mils.) 2023 2024 Change Total Assets 46,859 35,933 -23% Current Assets 36,104 22,980 -36% Property, Plant and Equipment - Net 6,586 8,282 26% Total Liabilities 24,628 18,966 -23% Current Liabilities 22,718 16,082 -29% Long Term Liabi
Slide 35: Financial Position & Ratios
GAKos FINANCIAL POSITION & RATIOS Financial Position IAS 29 (TL mils.) Net Debt Cash & Cash Equivalents Total Financial Debt Financial Ratios Net Debt / EBITDA Return on Equity Current Ratio Liquidity Ratio Current Assets / Total Assets Current Liabilities / Total Liabilities 2023 (9,621) 17,819 8,1
Slide 36: 2025 Expectations
Tractor Market ie at 2025 EXPECTATIONS > Turkish Tractor Industry Volume: 48,000 — 56,000 units > Local Tractor Sales*: 23,000 — 28,000 units > Tractor Exports: 11,000 — 13,000 units TiirkTraktOr > capex: 140-160 mitlions *Sales to the dealers included imported tractors GAKos TiirkTraktor CNH
Slide 37: Investor Relations Contact
GA Kos INVESTOR RELATIONS CONTACT u Fatma CAVLI Merig ONARGAN Investor Relations Team Leader Investor Relations Leader Specialist +90 312 2332502 @ +90 312 2332504 Fatma.Cavli@turktraktor.com.tr Meric.Onargan@turktraktor.com.tr investorrelations@turktraktor.com.tr TiirkTraktor CN4
Türk Traktör ve Ziraat Makineleri A.Ş. — FY2024 Earnings Presentation on 6ix