Haci Omer Sabanci Holding A.s. · BIST:SAHOL
Haci Omer Sabanci Holding A.s — Hacı Ömer Sabancı Holding A.Ş. — Investor Presentation (October 2025)
33 slides from Haci Omer Sabanci Holding A.s's investor presentation, October 2025
Slide 1: Investor Presentation
Investor Presentation Sustainable, Digital, Scalable Most Honored Company in Emerging EMEA Extel OCTOBER, 2025 2025
Slide 2: Disclaimer
Disclaimer The information and opinions presented in this document have been compiled by Hacı Ömer Sabancı Holding A.Ş. (“Holding”) from sources deemed reliable and in good faith; however, no representation or warranty, either express or implied, is made regarding their accuracy, completeness, or co
Slide 3: Why Invest in Sabancı?
Why Invest in Sabancı? Best proxy for Türkiye with an expansive global vision Leveraging our DNA and expertise to dynamically manage a portfolio for growth and competitive advantage Ample balance sheet capacity to accelerate portfolio transformation with scalable investments Pioneering in climate tr
Slide 4: Best Proxy for Türkiye with an Expansive Global Vision
Best Proxy for Türkiye GDP Growth vs Sabancı(1) Growth Türkiye Industrial Turnover Index vs Sabancı Industrial Turnover(2) Türkiye with 700 800 an Expansive 600 500 400 Global Vision 400 300 200 200 100 100 0 2019 2020 2021 2022 2023 2024 50 SAHOL (USD) Türkiye GDP (USD) 2018 2019 2020 2021 2022 202
Slide 5: Diversified with Market Leading Positions
Diversified with Market Leading Positions 46.8% 53.2% Sabancı Family Free Float BANKING & FINANCIAL SERVICES ENERGY & CLIMATE TECHNOLOGIES % of NAV: 39% % of NAV: 38% SAHOL: 40.7% SAHOL: 40.0% SAHOL: 36.0% SAHOL: 40.0% SAHOL: 50.0% SAHOL: 100% SAHOL: 50.0% Other: 5.6% Ageas: 40.0% Ageas: 36.0% E.ON:
Slide 6: Dynamic Portfolio Management to Enable NAV Growth
Dynamic Portfolio Management to Enable NAV Growth Sabancı Holding driven NAV growth NAV Growth driven by Group Companies Network Optimization in Building Materials Business SBS US Grinding (EUR110mn) Facility Investment (USD82mn) +750 MW of Wind Capacity Sale of Philsa & Acquisition of Commissioning
Slide 7: Portfolio resilience and financial discipline, led to non-bank margin expansion
Portfolio resilience and financial discipline, led to non-bank margin expansion & a strong YoY swing toward profitability Combined Revenue (TL bn)(1) Combined EBITDA (TL bn) Consolidated Net Income/Loss (TL bn) 13.5% 4% 10.3% 4% 357.0 344.5 4% 1.8 198.1 -22% 36.2 190.9 34.7 0.1 14.7 1.7 4% 18.8 36%
Slide 8: 2025 tracking better than last year, with higher non-bank contribution
2025 tracking better than last year, with higher non-bank contribution substantially reducing bottom-line loss Combined Revenue (TL bn)(1) Combined EBITDA (TL bn) Consolidated Net Income/Loss (TL bn) 12.2% 4% 10.3% 8% 714.1 -8% 688.2 208 83.4 170 -25% 76.5 367.6 397.0 -0.8 139 -0.6 151.6 -4.2 50.2 1
Slide 9: OCF more than doubled on EBITDA progress & working capital discipline
OCF more than doubled on EBITDA Return on Equity progress & working capital Bank Non-Bank Consolidated discipline... 7.0% Operational Cash Flow, Combined & Non-bank (TL bn)(1) -2.8% -5.1% 11.2% 68.8 1.7% -0.7% -2.3% 58.9 -6.6% 28.8 -9.7% 12.8 2023 2023 2023 20242024 2024 H1 2025 H1 2025 H1 2025 Bank
Slide 10: ...providing strategic flexibility through a healthy balance sheet
...providing strategic flexibility Non-Bank Capex/Sales (2) through a healthy balance sheet 13.5% Net Financial Debt to Non-Bank EBITDA(1) Holding Only - Net Cash (TL bn) 12.6% 11.4% 11.3% Policy: ≤ 2x 13.3 12.4 1.7x 1.4x 7.0 0.7x 2023 2024 H1 2025 2023 2024 H1 2025 2023 2024 H1 2024 H1 2025 (1) Exc
Slide 11: Well on Track to Deliver on Previous Guidance for All Key Metrics
Well on Track to Deliver on Previous Guidance for All Key Metrics 2021-2023 Figures 2021-2025 Targets Status Combined Revenue Growth CPI + 28% CPI + 8% Delivered Combined EBITDA(1) Growth CPI + 34% CPI + 10% Delivered Net Debt/EBITDA(1)(4) 0.8x <2.0x Delivered Consolidated ROE(5) 34.4% 15%-20% Deliv
Slide 12: Sustainable and Balanced Dividend Income Between Bank and Non-bank
Sustainable and Balanced Dividend Income Between Bank and Non-bank Dividends Received (TL bn) DPS (TL) Non-Bank Bank 9.4 62% 15% Outflow/Inflow Pay-Out Ratio 8.5 5 year 5 year on average on average 7.1 57% 48% 69% 2.1 2.94 3.00 1.6 43% 52% 1.75 77% 31% 84% 0.75 23% 0.35 16% 2021 2022 2023 2024 2025
Slide 13: Pioneer in Global Climate Transition with a Clear Strategy
Pioneer in Global Climate Transition with a Clear Strategy and Strong Return Profile Transforming Our Portfolio To Enable Decarbonization Because It Makes Business Sense 20% 24% 42% Decrease in Scope 1 & 2 Water consumption Reduction target in Scope 1&2 Favorable Funding emissions(2) emissions(1) re
Slide 14: Top-notch performance in ESG Indices
LOCAL RANK GLOBAL RANK Top-notch performance in ESG Indices CLIMATE CHANGE Among Local and Global Peers WATER SECURITY Sabancı Holding has been awarded with six diamonds by EFQM and won special award of Outstanding Achievement for Sustainability Sabancı Holding is listed in the Sustainability Yearbo
Slide 15: Investments with Attractive Long Term Growth Prospects to Enhance Value
Investments with Attractive Long Term Growth Prospects to Enhance Value Forward Looking EV/EBITDA Energy & Material Digital Climate Technologies Technologies* Technologies 18.8 ~5x 10.6 ~2x 9.0 ~2x ~2x 5.2 3.7 4.0 Conventional Renewables Conventional Advanced Conventional Next Generation Energy Reso
Slide 16: Net Zero drives major transition in key areas
Net Zero drives major transition in key areas, as a basis of our portfolio and investment plan Materials Transition Energy Transition From conventional to advanced, new Growth in renewables, grid ways of production and the application modernization, new technologies such of circular-economy principl
Slide 17: A Clear Capital Allocation Framework Providing Long Term Visibility
A Clear Capital Allocation Framework Providing Long Term Visibility Grow and Protect the Core CT SU Sustainability / Net Zero Transition T E NET Z STA O ER I ๏ Strengthen our market leading positions PR ORE O ๏ Focus on selective and scalable NA TRA industries with higher multiples TH & BI NSI C ๏ C
Slide 18: More Balanced NAV with a Solid Growth and Higher Return
More Balanced NAV with a 2029 TARGET NAV Solid Growth and Higher Return Energy & Climate Technologies 2019 NAV Current NAV 38% 19% Digital 1% 14% USD20bn Material 13% 1% Technologies USD6bn 16% USD9.1bn 6% 53% 39% Banking & Financial Services WACC Adjusted Return: +20 bps WACC Adjusted Return: +120-
Slide 19: Our Roadmap to Enhance Value
Our Roadmap to Enhance Value 2024-2029 GUIDANCE NET ASSET VALUE (USD)(1) USD20bn WACC ADJUSTED RETURN(2) +120-150bps CAPEX / REVENUES(3) 15 %- 20 % FX SHARE in REVENUES(4) 30 % + NET DEBT / EBITDA(3) ≤2.0 x Decreasing Scope 1 and 2 GHG(5) 42% by 2030 Ratio of Women leaders at Holding 50% by 2030 (1)
Slide 20: Sustainable, Digital, Scalable Strategic Business Units
Sustainable, Digital, Scalable Strategic Business Units
Slide 21: Energy: Leading Energy Transformation in Türkiye
Energy: Leading Energy Transformation in Türkiye, Exploring New Technologies Globally Distribution & Retail Generation & Trade Generation & Ventures ๏ Electricity distribution and retail services ๏ Multiple generation technologies and digital ๏ Renewable electricity generation in with ~25% market sh
Slide 22: Digital: Empowering Digital Growth
Digital: Empowering Digital Digital SBU established in March 2023 aligned with the Sabancı Group’s commitment to invest in digital space positioning as a major Growth business pillar for growth Data Center Hybrid Cloud ๏ Hyperscale/ wholesale grade data center ๏ Multi – hybrid Cloud focus focus ๏ Mo
Slide 23: Material Technologies: Transforming into Advanced Materials
Material Composite Insulation & Other Technologies: ๏ Aerospace and automotive industry ๏ High performance PIR insulation Transforming into ๏ Production US, Italy and Türkiye ๏ EPS insulation ๏ Earthquake strengthening ๏ PET based food packaging products Advanced Materials (95% recycled) Cement Conc
Slide 24: Banking: Proven resilience throughout shifting economic conditions
Banking: Proven resilience throughout Akbank Group’s European flagship with a robust 35.2% CAR as of 2024 Banking Contribution to net income stands at 6% shifting economic conditions in 2Q25 Net lease receivables market share of 12.0%(4) Leasing 17.4% CAR (1) +73% Leader in corporate bond issuances(
Slide 25: Financial Services: Strong Portfolio Companies in Life, Non-life and Health
Financial Services: Strong Portfolio Companies in Life, Non-life and Health Businesses Life & Pension Non-Life Health 5 Years CAGR 1st 59% 60+ 2.2 million Green-field competence center In Private Pension AuM focusing on health (+1pp vs. market) Years Experience Customer Technology, organization and
Slide 26: Appendix
Sustainable, Digital, Scalable Appendix
Slide 27: Disciplined Leadership with Extensive Expertise
Disciplined Leadership with Extensive Expertise Kıvanç ZAİMLER BOARD MEMBER & CEO Kıvanç Zaimler has served as CEO and board member of Sabancı Holding since June 1, 2025. Since 2018, as Head of the Sabancı Energy Group, he has chaired the boards of Enerjisa Enerji, Enerjisa Üretim and Sabancı Climat
Slide 28: Diversified and Disciplined Decision-Making Organization Key Policies
Diversified and Disciplined Decision-Making Organization Key Policies Responsible Investment Women in Management Capital Allocation Framework 9 Members Sabancı Holding Sabancı Holding 44%(1) 3 Independent Board of Directors vs. EU Average of 35% 33% Woman CEO Code of Business Ethics Anti-Bribery and
Slide 29: Sabancı Holding NAV After Independent Valuation Reports
Sabancı Holding NAV After Independent Valuation Reports Million USD September 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 7,855 3,201 33.8% 3,895 36.8% Enerjisa Enerji 20% 4
Slide 30: Financials in Detail
Financials in Detail Combined Revenue(1) Combined EBITDA Consolidated Net Income/Loss MILLION TL Q2 2024 Q2 2025 Change H1 2024 H1 2025 Change Q2 2024 Q2 2025 Change H1 2024 H1 2025 Change Q2 2024 Q2 2025 Change H1 2024 H1 2025 Change TOTAL 344,450 357,041 4% 688,186 714,122 4% 34,650 36,183 4% 83,4
Slide 31: 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 32: Proactive and Transparent Investor Relations
Proactive and Among Emerging EMEA 4 Years in a Row Transparent Investor Relations Best Best Best Company CEO CFO Board Most Honored Most Honored Company in the Company in the Best IR Emerging EMEA Best Team Emerging EMEA in Investor Program Relations 2025 2024 Grand Prix Grand Prix Best Team in Best
Slide 33: 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
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