Koc Holding A.S. · BIST:KCHOL
Koc Holding A.S — 9M 2026 Earnings Presentation
25 slides from Koc Holding A.S's earnings presentation, Nov 9, 2026
Slide 1: Koç Holding 9M 2026 Earnings Presentation
KOÇ HOLDING 9M 2026 EARNINGS PRESENTATION November 9, 2026 9M26 Earnings Presentation
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: Agenda
Agenda Koç Group Highlights Key Metrics Highlights on Main Sectors 3 9M26 Earnings Presentation
Slide 4: Koç Group Highlights
Koç Koç Group Group Highlights Highlights Key Metrics Highlights on Main Sectors 4 9M26 Earnings Presentation
Slide 5: Koç Group: 9M 2026 Highlights
Koç Group: 9M 2026 Highlights Strong Results In A Challenging Environment Solid financial performance alongside continued investments 8.2% TL 56.4bn US$ 2.7bn Combined Revenue Real Growth Consolidated Net Income Combined Investment in 9M26 (YoY) in 9M26 ( 203% YoY) in 9M26 (9M25: US$ 2.6bn) Strong l
Slide 6: Koç Group: Financial Performance
Koç Group: Financial Performance Disciplined Execution Supporting Group Performance COMBINED CONSOLIDATED Revenue Profit Before Tax Profit Before Tax Net Income TL trillion TL billion TL billion TL billion 4.5 4.2 185.8 56.4 210.5 99.9 66.4 18.6 US$ bn 77.8 92.6 1.9 4.3 US$ bn 1.2 3.8 0.3 1.15 9M25
Slide 7: Koç Group: Portfolio Diversification as a Core Strength
Koç Group: Portfolio Diversification as a Core Strength Business Contributions Vary Across Market Conditions COMBINED OPERATING PROFIT BREAKDOWN 2020 2022 9M 2026 Other Energy Finance Energy Automotive 33% -1% Other 4% Other 15% 45% 1% 2% Consumer Durables 5% Automotive 10% 28% 22% 39% Automotive 72
Slide 8: Koç Group: 9M 2026 Highlights
Koç Group: 9M 2026 Highlights Strategic Actions and Milestones / Driving Long-Term Value STRATEGIC PORTFOLIO KEY COMMERCIAL & CENTENNIAL YEAR: IMPACT & 1 2 3 ACTIONS OPERATIONAL MILESTONES RECOGNITION • Arçelik’s strategic portfolio reshaping and • Tofaş reached a new milestone with the start of • C
Slide 9: Key Metrics
Koç Group Highlights Key Metrics Highlights on Main Sectors 9 9M26 Earnings Presentation
Slide 10: Key Metrics: A Broad Portfolio Across Sectors And Geographies
Key Metrics A Broad Portfolio Across Sectors And Geographies Net Asset Value Breakdown by Sector1 Combined Revenue Breakdown 9M 2026 Auto (Other) Auto 10% International (PC & CV 30% Manufacturing) 17% Refining 31% Finance 18% Oil & Gas ~ 51% Distribution hard currency based Consumer 4% Domestic reve
Slide 11: Key Metrics: Strong Liquidity and Balance Sheet Flexibility
Key Metrics Strong Liquidity and Balance Sheet Flexibility Net Cash Position Cash Breakdown Koç Holding-only1, US$ million 30 September 2026 963 815 Hard Currency 80% TL 20% 31Dec25 30Sep26 Koç Holding-only • Koç Holding-only long fx position: US$ 652mn gross cash2 US$ 1.6bn • Consolidated long fx p
Slide 12: Highlights on Main Sectors
Koç Group Highlights Key Indicators Highlights on Main Sectors 12 9M26 Earnings Presentation
Slide 13: Energy
Energy Robust Refining Margins Underpinned Strong Earnings Market Sales Volume (Turkey) Crack Margins 9M26 Highlights Million Tonnes USD/bbl Record-high refining margins drove strong earnings y/y +1% -5% +10% -3% 84.1 Growth 75.3 High-capacity utilization enabled effective margin capture 17.5 17.7 E
Slide 14: Automotive
Automotive Strong Market Positions Amid Persistent Demand Headwinds Sales Volume Monthly Trend 9M26 Highlights Thousand Units Thousand Units Strong domestic market positions maintained Koç Turkey Exports Market Share 20% 73% 24% 31% 52% Passenger Cars (domestic) Production growth trajectory with new
Slide 15: Consumer Durables
Consumer Durables Disciplined Execution Amid Demand and Cash Flow Pressures 1 Sales Volumes Across Markets MDA6 Market 9M26 Highlights Million Units " Koç Market Share 20% 68% 26% 30% 41% Portfolio simplification & procurement savings and improvement projects ARÇELİK y/y growth (%) Market share gain
Slide 16: Finance
Finance Improving Margins While Asset Quality Pressures Persist TL Lending Growth Sector’s Loans & Deposits 9M26 Highlights 13 Weeks Annualized TL Billion, USD Billion Improving spreads supported core revenue and margin momentum Private Banks State Banks 9M26 q/q ytd y/y Resilient fee & commission g
Slide 17: Koç Group: 9M 2026 Financial Performance
Koç Group: 9M 2026 Financial Performance Contributions Across the Portfolio Financial Performance Consumer TL Million Energy Automotive Finance Other TOTAL Durables Combined Revenues1 1,827,277 1,220,002 476,500 812,938 194,935 4,531,652 Change (y/y) 38% -3% -16% -3% -1% 8% Segment Share in Total 40
Slide 18: Q&A
Q&A 9M26 Earnings Presentation
Slide 19: Consolidated Key Financial Figures
Appendix Consolidated Key Financial Figures Consolidated Main Financial Indicators Consolidated Net Income TL million TL million 9M25 9M26 y/y Revenue 2,535,775 2,819,080 11.2% Gross Profit 428,820 532,327 24.1% 39,756 2,458 948 56,374 Operating Profit 105,226 199,249 89.4% - 4,531 - 875 Profit Befo
Slide 20: Business Model Ensures Sustainability of Dividend Income
Appendix Business Model Ensures Sustainability of Dividend Income Dividend Income1 Dividend Payments1 TL Billion TL Billion Dividend 2023 2024 2025 2026 Sep Dividend 6% 28% 1021% 79% Tüpraş (inc. EYAŞ) 10.3 16.5 15.3 10.4 Payout 38.5 Ford Otosan 6.0 7.8 10.5 4.9 Tofaş 1.1 3.8 2.3 3.8 Dividend 2.2% 3
Slide 21: Relative Share Performance & NAV Discount Analysis
Appendix Relative Share Performance & NAV Discount Analysis Relative Share Performance of Koç Holding vs. Koç Group 1 NAV Discount/Premium2 13% Rebased at 2025YE 50% 8% 40% 3% 30% -2% 20% 20% -7% 10% 13% -12% Avg NAV discount since 2009: -15% Historical Average 0% 47% -17% -3% -10% 14% -22% -1% -20%
Slide 22: 2026 Guidance of Listed Group Companies
Appendix 2026 Guidance of Listed Group Companies TÜPRAŞ 2025A 2026E - Nov'26 TOFAŞ 2025A 2026E - Nov'26 TÜRKTRAKTÖR 2025A 2026E - Aug'26 Tüpraş Net Refining Margin ($/bbl) 7.0 20-22 Sector ('000) Sector ('000) Total TR LV Sales (PC+LCV) 1,368 1,100-1,150 Total TR Tractor Sales 40 21-26 CUR 94% 95-10
Slide 23: Our ESG Journey
Appendix Our ESG Journey Committed to be carbon neutral by 2050 International Platforms The Koç Group Carbon Transition Roadmap: 16% reduction in 2025 vs. 2017 baseline year ➢ United Nations Global Compact • CEO Water Mandate 20% by 2030 49% by 2040 ➢ WEF – Centre for Nature and Climate, Water Futur
Slide 24: Shareholding Structures
Appendix Shareholding Structures Koç Holding Koç Family: 63.48%1 Free Float: 26.85% Vehbi Koç Foundation: 7.29% Koç Pension Fund: 2.35% Share Buyback: 0.04% Energy Automotive Consumer Durables Finance Other Tüpraş Arçelik Yapı Kredi Bank Marmaris Altınyunus Ford Otosan EYAŞ: 46.4% KH: 49% KH: 20.22%
Slide 25: Contact Us
Contact Us Koç Holding Investor Relations Koç Holding IR Website Annual Report 2025 Contact the IR team: investorrelations@koc.com.tr +90 850 756 23 23 Sustainability Report 2025 Helin Çelikbilek, IR Coordinator İsmail Özer, IR Manager 25 9M26 Earnings Presentation