Karsan Otomotiv Sanayii Ve Ticaret A.s. · BIST:KARSN

Karsan Otomotiv Sanayii Ve Ticaret A.s — Q4 2022 Earnings Presentation

55 slides from Karsan Otomotiv Sanayii Ve Ticaret A.s's earnings presentation, 2023

  1. Slide 1: Investor Presentation 2022 Q4

    < KARSAN Investor Presentation 2022 04 £4 karsan | ELECTRIC EVOLUTION

  2. Slide 2: Karsan Electric Evolution

    £4 cansan | crac © euunon

  3. Slide 3: From Past to Present

    FROM PAST TO PRESENT 10 YEARS First Karson vehicles: Jest, re-released with eJEST Launch e-Rtak Larnch Autonomous e-ATAK Ata Hydrogen Efi KARSAN Jest, Atok ond Stor, ‘esthetics ond improved LLounct: First Level 4 full Lounch Evolution Europe's largest fleet features. size autonomous bus a delivery (

  4. Slide 4: Manufacturing Facilities

    MANUFACTURING FACILITIES (fe 200,000 m? total area /~ =) 90,000 m? a closed area (En 65,000 units/year at) manufacturing capacity (3 shifts) @ Mento “sir | 04) Dye | (Ss) Assembly £4 karsan | ELECTRIC EVOLUTION

  5. Slide 5: Manufacturing Facilities

    MANUFACTURING FACILITIES £4 karsan | ELECTRIC EVOLUTION (= 15,000 m? Gat total i (a) 10,000 m? P \@ x1) closed area (em 4,500 units/year Na manufacturing capacity [1 shift) (7 .\ Bus Body Manufacturing ey

  6. Slide 6: Manufacturing Facilities

    MANUFACTURING FACILITIES %. OSB Factory - Bursa : _— - Se 30,000 m? , KS total area E Me cad = Be t,) : 1 en ‘ ' Lan | hg Fe 2855 B closed area GS Cataphoresis & | ©) rare Part Oo £4 karsan | ELECTRIC EVOLUTION

  7. Slide 7: Innovation Focused R&D Center

    R&D Innovation Focused R & D Center Gg MN Patent (7 Lye Utility §&, R&D Team of around 200 people Model Registration » Turnkey Manufacturing Solutions “ wy 53 Design £4 karsan | ELECTRIC EVOLUTION

  8. Slide 8: Our Vision

    C4 carsan | (az) By Sustainable Growth in Europe & North America OUR VISION Distinctive Operational Processes £4 karsan | ELECTRIC EVOLUTION Being a Pioneer in Future Mobility Technology & Collaborations *

  9. Slide 9: Exist in the Global Market Manufacturing Services

    EXIST IN THE GLOBAL MARKET MANUFACTURING SERVICES £4 karsan | ELECTRIC EVOLUTION

  10. Slide 10: Automotive World Is Evolving

    i e Roa AUTOMOTIVE WORLD IS EVOLVING <. “ll | £4 cansan | crac © uunon

  11. Slide 11: New Technological Trends

    NEW TECNOLOGICAL TRENDS SHARED MODULAR AUTONOMOUS ONLINE @e £4 karsan | ELECTRIC EVOLUTION

  12. Slide 12: New Technological Trends

    NEW TECNOLOGICAL TRENDS ELECTRIC HYDROGEN AUTONOMOUS £4 karsan | ELECTRIC EVOLUTION

  13. Slide 13: Fast Electric Evolution with Regulations

    =FAST ELECTRIC EVOLUTION WITH REGULATIONS : IN THE FUTURE 5 YEARS % IN 2030, 100% OF NEW URBAN BUS 100 MN $ BUDGET IN 5 YEARS WITH ZERO EMISSIONS TO ELECTRIC PUBLIC TRANSPORT £4 karsan | ELECTRIC EVOLUTION

  14. Slide 14: Electric Evolution in Global Mass Transportation Market

    ELECTRIC EVOLUTION IN GLOBAL MASS TRANSPORTATION MA 297.000 Source: Mrkot & Markets Global Outok Report. Chatrou CME Solitons Europe Bus Report, Expert Anais £4 carsan | ELECTRIC EVOLUTION “-

  15. Slide 15: Electric Evolution in Global Mass Transportation Market

    ELECTRIC EVOLUTION IN GLOBAL MASS TRANSPORTATION MARKET ‘ 223000 ASIA PACIFIC Sauce Makot & Markets tbl Qulok Report, Chatrou CME Solitons European Bus Report, Expert Anaksis £4 carsan | ELECTRIC EVOLUTION

  16. Slide 16: Electric and Hydrogen Evolution in Global Bus Battery Market

    ELECTRIC AND HYDROGEN EVOLUTION IN GLOBAL BUS BATTERY MARKET % 266500 ELECTRIC J 30.500 HYDROGEN 2030 Source: Mrkot & Markets Global Outok Report. Chatrou CME Solitons Europe Bus Report, Expert Anais £4 carsan | ELECTRIC EVOLUTION

  17. Slide 17: Autonomous

    TONOMOUS o-ATAK -ATA. ou" ae: it = 2021 February September £4 karsan | ELECTRIC EVOLUTION

  18. Slide 18: £4 karsan | ELECTRIC EVOLUTION

    £4 karsan | ELECTRIC EVOLUTION

  19. Slide 19: We Manage Climate Change at the Global Level

    WE MANAGE CLIMATE CHANGE AT THE GLOBAL LEVEL C) BORSA [ iSTANBUL - (61,1) (51,2) \e2) (goa) K4 karsan | ELECTRIC EVOLUTION

  20. Slide 20: £4 karsan | ELECTRIC EVOLUTION

    £4 karsan | ELECTRIC EVOLUTION

  21. Slide 21: Our Target Markets

    OUR TARGET MARKETS £4 karsan | ELECTRIC EVOLUTION

  22. Slide 22: £4 karsan | ELECTRIC EVOLUTION

    £4 karsan | ELECTRIC EVOLUTION

  23. Slide 23: The Highest Growing Brand in Europe

    THE HIGHEST GROWING BRAND IN EUROPE ! Source: Graphics in 2019, 2020 , 2021, 2022 Chatrou Bus Report 28 t City Bus Market % 277 £4 karsan | ELECTRIC EVOLUTION

  24. Slide 24: We Are in Top in Europe

    om) LUXEMBURG r | aed 3 eo 56% tF WE ARE IN TOP 5 IN EUROPE ! é> PORTUGAL nis 2019-2022 igi pel 2028 25 apm 30% k i) ROMANIA ae - 2021-2022 Md a 2022 , 95 1<] 21% IN Z 4% k ® FRANCE Gat ao 202 ce | 1 43 2022 m4 10% BULGARIA 2022 re) K 8% Source. 2019, 2020 , 2021, 2022 Chatrou Bus Report, EU27+NO+CH

  25. Slide 25: 600+ Electric Buses in Countries

    600+ ttectric Buses in 20 countries ce NORWAY CANADA aEsUM GERMANY LUXEMBURG USA SWITZERLAND FRANCE inaty © 2 SPA mexico PORTUGAL £4 karsan | ELECTRIC EVOLUTION LIUANA POLAND SLOVAKIA cay © ROMANA BULGARIA &. rxite

  26. Slide 26: Million km Karsan Electric Experience

    10 MILLION KM KARSAN ELECTRIC EXPERIENCE ! K4 karsan | ELECTRIC EVOLUTION

  27. Slide 27: Last Years' Export of Electric Bus & Minibus in Turkey

    THE LAST 4 YEARS’ EXPORT OF ELECTRIC BUS & MINIBUS IN TURKEY < KARSAN (sss) as Se 2019, 2020, 2021, 2022 Chatrou Bus Report, EU27+UK+ICE+NO+CH rr wi £4 carsan | ELECTRIC EVOLUTION

  28. Slide 28: e-JEST is the European Market Leader for Years

    e-JEST is the European Market Leader for 3 Years ! (28% JEST Vig (95 2020, 2021, 2022 2022 vehicles me 2021 ey, Sauce: 2020 20212022 Chats Bs Rear, 27+UKsICEsNDACH <i Karsan | ELECTR EVOLUTION

  29. Slide 29: e-ATAK is the European Electric Midibus Market Leader

    e-ATAK is the European Electric Midibus Market Leader for 2 Years ! ASTAK (40% Ay > 2021, 2022 113... 2022 \. 2002 J, A aI F igi Source: 2021 2021 ChatrouBus Report, EU27+UK I IcesNO+CH £4 carsan | ELECTRIC EVOLUTION

  30. Slide 30: £4 karsan | ELECTRIC EVOLUTION

    £4 karsan | ELECTRIC EVOLUTION

  31. Slide 31: First Autonomous Bus Carrying Passenger

    FIRST AUTONOMOUS BUS CARRYING PASSENGER « WN Ey, Q Michigan State University Q Stavanger, Norway £4 karsan | ELECTRIC EVOLUTION

  32. Slide 32: e-ATA Orders From Europe

    100 e-ATA Orders From Europe QoMANig Q Brasov & Timisoara Q Slatina Q Tper Bologna £4 karsan | ELECTRIC EVOLUTION

  33. Slide 33: International Awards

    8 International Awards ! Most Innovative Commercial Vehicle Brand in Europe < | KARSAN mt BUS OF THE BEST BUS YE DESIGN * inti BusiAward) © | EXTRAORDINARY INNOVATION e-MOVE 360° EUROPE 2022 aed. iain ae Autonomous e-ATAK e-ATA 12 Cas es | ihe K4 karsan | ELECTRIC > EVOLUTION

  34. Slide 34: Target Markets

    TARGET MARKETS £4 karsan | ELECTRIC EVOLUTION

  35. Slide 35: North America's First Electric Minibus

    NORTH AMERICAS FIRST ELECTRIC MINIBUS ! 4% Bb nat t ‘ i F WA a3 ys ee ot de Transit s Bowtie iy ie Q Saint John, 6 x e-JEST “oO Oakville, 5 x e-JEST £4 karsan | ELECTRIC EVOLUTION

  36. Slide 36: One Step Ahead

    < KARSAN ONE STEP AHEAD K4 karsan | ELECTRIC EVOLUTION

  37. Slide 37: mi = ] =) a] rm > = = E] ow > = ~~

    mi = ] =) a] rm > = = E] ow > = ~~ — =] = or) = -] > =z 77) a] r=) ) 4 P— = =) = = > ~] AS rm + rs Kae 75.000 vehicles 2023-2030 a 25.000 vehicles - 2023-2030 Source: Mrkot & Markets Global Outok Report. Chatrou CME Solitons Europe Bus Report, Expert Anais £4 carsan | ELECTRIC EVOLUTION

  38. Slide 38: £4 karsan | ELECTRIC EVOLUTION

    £4 karsan | ELECTRIC EVOLUTION

  39. Slide 39: Renault Megane Sedan Manufacturing Started in Karsan

    §) RENAULT MEGANE SEDAN manufacturing started in KARSAN ! 2023 (ag ehicle MANUFACTURING 000 PLAN = as we 3 SHIFTS £4 karsan | ELECTRIC EVOLUTION

  40. Slide 40: Strategic Partners

    STRATEGIC PARTNERS oo High Contribution to the (4g) 29% of shares a wi aa ~ aa Ge) Development of Public S, £4 karsan | ELECTRIC EVOLUTION

  41. Slide 41: Karsan Electric Evolution

    £4 cansan | crac ewunon

  42. Slide 42: Turkiye's 100% Domestic & National Electric Minibus with ASELSAN

    Turkiye’s 100% Domestic & National Electric Minibus with ASELSAN a £4 karsan JEST eS aselsan ‘WERE WE MILL > 4 %100 ® ELECTRIKU S Soe ES | ‘ea e = . = = £4 karsan | ELECTRIC EVOLUTION € 12.6 m deal 65 kWh battery capacity 70 kW engine power quick charge in 1 hour 12 seats

  43. Slide 43: £4 karsan | ELECTRIC EVOLUTION

    £4 karsan | ELECTRIC EVOLUTION

  44. Slide 44: Sales Volume

    SALES VOLUME Pry ele || aye i 7) cay ‘i Ree ile : (Cr © “ Vehicles a 3,086 st 2020 Vehicles 3,442 2021 £4 karsan | ELECTRIC EVOLUTION 2022

  45. Slide 45: Capacity Utilization Rates

    CAPACITY UTILIZATION RATES £4 karsan | ELECTRIC EVOLUTION

  46. Slide 46: Primary Financial Results (TL mn)

    > 2 PRIMARY FINANCIAL RESULTS (TL mn) EBITDA* Net Profit 2.994 r, 126 403 2.100 382 99 L616 f 20 2020 2021 2022 2020 2021 2022 2020 2021 2022 * FX Gain/Loss not included. £4 carsan | ELECTRIC = EVOLUTION

  47. Slide 47: Year-End Profit Ratios (%)

    YEAR-END PROFIT RATIOS (%) Gross Profit Margin Net Profit Margin EBITDA Margin 5.2 By 26.5 29.3 ag2 15,8 2816 273 13 2020 2021 2022 2020 2021 2022 2020 2021 2022 £4 karsan | ELECTRIC EVOLUTION

  48. Slide 48: Revenues & EBITDA Breakdown by Business Lines

    REVENUES & EBITDA BREAKDOWN BY BUSINESS LINES @ Karsan Branded Vehicles Industrial & Spare Parts Other Sales Revenues (TL mn) ft EBITDA (TL mn) 1.434) (wo TL mn 474 é a Ton 402 GA 403 5 Profits from Sg al 2.994 — ~ Bw ¥ Electric 2.100 1,068 261 1616 = 201 1,050 989 2 4h2 1,725 28 269 Ez 8 | 2020 202

  49. Slide 49: Debt Ratios

    DEBT RATIOS 2020 Financial Debt 1533 Cash etc. Financial Investments Investment Loan i scope of cooperation Net Debt EBITDA Equity £4 karsan | ELECTRIC EVOLUTION

  50. Slide 50: 2022 Financial Debt Structure

    2022 FINANCIAL DEBT STRUCTURE TOTAL DEBT EUR 73,6% USD 0,9% TRY 255% £4 casa | crac DEBT MATURITY BREAKDOWN Short Term 79,23% Long Term 20,77% EVOLUTION

  51. Slide 51: Balance Sheet

    BALANCE SHEET Current Assets Non-Current Assets Short Term Liabilities Long Term Liabilities 6.031 BPE 3,256 2.717 1925 1505 3,045 1812 , wre = 105 2137 a see Vy 3/6il 728 \\\ 606 <<) 2020 <- 994 2021 ot 1,739 Equities 2022 £4 karsan | ELECTRIC EVOLUTION

  52. Slide 52: 2015-2022

    2015 2016 2017 2018 2019 2020 2021 2022

  53. Slide 53: Cash Flow (TL mn)

    a CASH FLOW [TL mn) ~ ® . ‘ 2020 2021 2022 >» Net Profit (Loss) Other Cash rot y £4 karsan | ELECTRIC EVOLUTION

  54. Slide 54: Investment Expenditures By Years (TL mn)

    Investment Expenditures By Years (TL mn) 2,994 2,100 1616 Th ™% iF ’ 3% 382 398 474 43 157 212 pote = la 2020 2021 2022 Revenues: EBITDA Investment Expenditures P = |nvestment Expenditures/Revenues £4 karsan | ELECTRIC EVOLUTION

  55. Slide 55: Thank you

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