Haci Omer Sabanci Holding A.s. · BIST:SAHOL
Haci Omer Sabanci Holding A.s — Hacı Ömer Sabancı Holding A.Ş. — Investor Presentation (February 2026)
31 slides from Haci Omer Sabanci Holding A.s's investor presentation, February 2026
Slide 1: Investor Presentation
Investor Presentation Sustainable, Digital, Scalable Most Honored Company in Emerging EMEA Extel FEBRUARY, 2026 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: 46% % of NAV: 34% SAHOL: 40.7% SAHOL: 40.0% SAHOL: 36.0% SAHOL: 40.0% SAHOL: 50.0% SAHOL: 100% Other: 5.6% Ageas: 40.0% Ageas: 36.0% E.ON: 40.0% 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: 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 8: OCF maintained with solid EBITDA & disciplined cash flow management
OCF maintained with solid EBITDA & Holding Only - Net Cash (TL bn)(2) disciplined cash flow management… Operational Cash Flow, Combined & Non-bank (TL bn)(1) 74.0 12.4 12.0 63.3 53.0 7.0 52.6 2023 2024 9M 2024 9M 2025 2023 2024 9M 2025 (1) Excludes Banking, and net cash position of financial service
Slide 9: ...providing a healthy balance sheet for flexible strategic execution
...providing a healthy balance sheet Non-Bank Capex/Sales (2) for flexible strategic execution 13.5% Net Financial Debt to Non-Bank EBITDA(1) 12.6% 12.0% 11.4% Policy: ≤ 2x 1.7x 1.4x 0.7x 2023 2024 9M2025 2023 2024 9M 2024 9M 2025 (1) Excludes Banking and net cash position of financial services, com
Slide 10: 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) Banking & Financial Services Energy & Climate Tech Material Tech 9.4 62% 15% Outflow/Inflow 8.5 Pay-Out Ratio 15% 5 year 5 year on average 13% on average 7.1 12% 40% 52% 34% 2.1 2.94 3.00 1.6 44% 2
Slide 11: 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 12: 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 13: Growth Disciplined by Returns
Growth Disciplined by Returns Consolidated Revenue (USD) ve EBITDA Margin(%) Current NAV Breakdown(1) 2019-2024 CAGR Revenue Growth % Sabancı Holding 20 %34 10 0 Peer avg. %14 %1 5- year average -10 EBITDA margin USD11bn %5 4 6 8 10 12 14 16 18 20 22 24 26 28 30 ROE-COE Spread ve Net Income Margin(%
Slide 14: Capital Allocation Framework
Capital Allocation Framework Capital Allocation Discipline Manage the Value Protect & Invest to Grow Deployment Criteria Cash generative assets with High Return platforms with Primary Focus Return Threshold strict capital discipline and scalable economics and clear Sustainability aligned, globally T
Slide 15: 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* 34% 19% Digital 1% 14% USD20bn Material 13% 14% Technologies 1% USD6bn USD11bn 5% 53% 46% Banking & Financial Services WACC Adjusted Return: +20 bps WACC Adjusted Return: +120-
Slide 16: 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 17: Sustainable, Digital, Scalable Strategic Business Units
Sustainable, Digital, Scalable Strategic Business Units
Slide 18: Energy: Leading Energy Transformation in Türkiye, Exploring New Technologies Globally
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 19: 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 20: 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 21: Banking: Executing today, transforming for tomorrow
Banking: Executing today, transforming for tomorrow 3Q25 Summary Strategic Priorities Growth: Achieved strong loan growth with across-the- 1 board market share gains supported by solid deposit 1 Redesigning business models in line with evolving customer needs mix 2 Core Revenue: Solid fee generation
Slide 22: Financial Services: Strong Portfolio Companies in Life, Non-life and Health Businesses
Financial Services: Strong Portfolio Companies in Life, Non-life and Health Businesses Life & Pension Non-Life Health 5 Years CAGR 1st 65% 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 23: Sustainable, Digital, Scalable Appendix
Sustainable, Digital, Scalable Appendix
Slide 24: 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 25: 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 26: Strong non-bank operational execution & disciplined cost management led to significant 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 27: 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 28: 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 29: Sabancı Holding NAV After Independent Valuation Reports
Sabancı Holding NAV After Independent Valuation Reports USD mn January 2026 December 2025 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 11,152 4,544 40.4% 3,452 35.2% Enerjisa Enerji 20% 40% Mar
Slide 30: 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 31: 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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