Turkiye Petrol Rafinerileri A.s. · BIST:TUPRS
Turkiye Petrol Rafinerileri A.s — Tüpraş — Investor Presentation (2026)
15 slides from Turkiye Petrol Rafinerileri A.s's investor presentation, Oct 7, 2026
Slide 1: Company Presentation
Company Presentation 2026 www.tupras.com.tr Hizmete Özel / Confidential
Slide 2: Tüpraş History
Tüpraş History • As of 2025, Tüpraş is Turkey’s biggest industrial company and leading refiner. • Tüpraş privatization is the 2nd biggest privatization in Turkey with a price tag of 4.14 bn USD. • Tüpraş completed 8.4 bn USD of investments since takeover from privatization. ~1 bn USD RUP Electricity
Slide 3: Tüpraş in Numbers
Tüpraş in Numbers Europe’s 7th 53% of 8.4 bn $ Largest World’s 36th Investments Turkey’s total storage Industrial largest refinery capacity (with OPET) Over the past Company 18 years of Turkiye 4 Refineries / Among biggest exporters 30 Mn Ton Production Capacity #1 in Chemical & petroleum products e
Slide 4: Tüpraş Shareholder Structure
Tüpraş Shareholder Structure Tüpraş is Turkey’s biggest industrial company and leading refiner. Koç Holding Aygaz Opet 77% 20% 3% Energy Investments Inc. (SPV) Koç Holding and Other Koç 46.4% 3.9% Foreign Ownership¹ 38% Free Float2 49.7% Domestic Ownership 62% 79.98% 100% 100% 41.7% 100% 99.2% ¹ As
Slide 5: Tüpraş Subsidiaries
Tüpraş Subsidiaries OPET – Distribution (%41.7) Tüpraş Trading UK – Trading (%100) DİTAŞ Marine Transport (%79.98) Market Share 20% White Products 22% Black Products 838,981 DWT Transportation of 9.7 million tonnes crude Over 9.5 and 8.3 million tonnes products cargoes Carrying Capacity 1,1 million
Slide 6: Tüpraş' Refining Assets & Distribution Network
Tüpraş’ Refining Assets & Distribution Network BAKÜ – TİFLİS – CEYHAN Crude Pipeline ENTEK Süloğlu WPP İzmit Capacity: 11.3 mn t İSTANBUL Nelson Compl.: 14.5 ENTEK OPET Storage: 3.0 mn m3 Kumköy Giresun OPET HPP İZMİT Terminal Marmara Kırıkkale Terminal Capacity: 5.4 mn t Nelson Compl.: 6.32 OPET EN
Slide 7: Production Flow and Yield Breakdown
Tüpraş Production Flow and Yield Breakdown • Tüpraş has 30 million tonnes of production capacity • Tüpraş operates 4 refineries with an integrated system optimization program # of Capacity Flow Diagram Key Units Units (m3/d) LPG LPG 3.5% MEROX CRUDE OIL 8 99,420 Gasoline / Naphtha 22.0% VACUUM DIST.
Slide 8: Sales
Sales • Tüpraş generated 29.4 million tons of total sales in 2025. Total Sales Customer Groups 2025 mn tons 29.5 30.1 30.4 29.4 27.6 Other International 6.3 6.6 13% sales 6.0 6.0 5.9 20% Jet 7% Bitumen 21.7 23.5 23.8 23.8 23.4 Total Sales 6% 2025 29.4 mn tons 2021 2022 2023 2024 2025 Exports Domesti
Slide 9: Subsidiaries: Entek Electricity
Tüpraş Subsidiaries Entek - Electricity (Tüpraş Share: 99.2%) Group Total Installed Capacity Production (000 MWh) 66 112 17.5 MW MW MW 53.5 1,600 MW 1,400 1,451 1,460 1,200 1,359 1,341 1,334 50 1,000 1,239 MW 178 28 MW 800 14.7 MW 600 7 MW MW 400 200 24.4 MW - Natural Gas Combined Hydroelectric Wind
Slide 10: Strategy
STRATEGY Hizmete Özel / Confidential
Slide 11: Turkey's Transportation Energy Demand
Turkey’s Transportation Energy Demand Türkiye’s Transportation Energy Demand Our Projections in million tones of oil equivalent (mtoe) Türkiye’s fossil fuel consumption to peak in 2035 (2021 STP: 2030) Electricity Hydrogen SAF, Other Jet Fuel Alternatives Alternative Marine Fuels Marine Fuel Jet Fue
Slide 12: Strategic Transition Plan
Strategic Transition Plan 2025-2030 2031-2035 Capex EBITDA Capex EBITDA Sustainable Refining ~50% ~85% ~40% ~65% 2021 STP: ~ 60% 2021 STP: ~ 90% 2021 STP: ~ 30% 2021 STP: ~ 70% Sustainable Aviation Fuel Zero Carbon Electricity ~50% ~15% ~60% ~35% 2021 STP: ~ 40% 2021 STP: ~ 10% 2021 STP: ~ 70% 2021
Slide 13: Strategic Transition Plan – Investment Areas
Strategic Transition Plan – Investment Areas SUSTAINABLE REFINING ZERO CARBON ELECTRICITY Energy Efficiency and Decarbonization Projects • Remain as a Major EBITDA Contributor Integrating Zero Carbon Electricity to produce Green H2 • Improve energy efficiency to drive up profitability • Primarily su
Slide 14: Strategic Transition Plan – Emission Reduction
Strategic Transition Plan – Emission Reduction EMISSION REDUCTION SCOPE 1 & 2 BASE YEAR SCOPE 1 + 2 7.6* MN TONNES -17% -20% -25% -49% We continue to invest in energy efficiency & decarbonization projects, green hydrogen & zero carbon electricity usage in refining to reduce scope 1 & 2 emissions -10
Slide 15: Hizmete Özel / Confidential
Hizmete Özel / Confidential