Turk Traktor Ve Ziraat Makineleri A.s. · BIST:TTRAK

Turk Traktor Ve Ziraat Makineleri A.s — Q1 2024 Earnings Presentation

39 slides from Turk Traktor Ve Ziraat Makineleri A.s's earnings presentation, Jul 22, 2024

Slide 1: Investor Presentation
GAKos AP 2 e a) = 4 _ ZS ‘jas 4 wy INVESTOR PRESENTATION 22.07.2024 TiirkTraktir7©... TiirkTraktor ga CNH
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: Corporate Structure
CORPORATE STRUCTURE — : Total 2,899 employees** 2,152 shop-floor employee | 54,000 units 747 office employee tractor production capacity* Established in 1954 Shareholder Structure (OVO) Koc Founded in 1926, Kog Holding is BORSA _ Free Float CNH CNH Industrial is a one of the leading Y Turkey's large
Slide 4: Plants & Facilities
GAKog Ankara Factory Engine, Transmission and Axle Manufacturing Center CE Manufacturing Center Opening : 25.06.1954 Indoor Area : 82,000 m? Total Area : 257,325 m? Izmir CE Facility Opening : 18.09.2014 Indoor Area : 3,157 m? Total Area : 6,396 m? PLANTS & FACILITIES Erenler Factory Paint shop and
Slide 5: Position within CNH Industrial
Position within CNH Industrial The only design and production center of New Holland TD and Case IH JX series tractors in the world The only production center of New Generation Utility Medium series tractors and transmissions in the world The only production center of Utility Light series tractors an
Slide 6: Investment Highlights
INVESTMENT HIGHLIGHTS ° 1 Leading tractor manufacturer with diversified product range o ros The largest tractor producer in Turkey with 54K tractor capacity Sustainable growth Good shareholder returns Tractor market leader for the last consecutive 17 years Vertically integrated operation 4 Has long-
Slide 7: TürkTraktör at a Glance
TURKTRAKTOR AT A GLANCE 7 Tractor Manufacturing (unit) © Total Tractor Sales (unit) mlmport Tractor mDomestic Tractor +m Export 48,781 44,531 a - fel = _ 2023 2023/6 2024/6 2021 2022 2023 2023/6 2024/6 Total Revenue (million TL) ése Gross Profit (million TL) 3,360 3,909 2023/10 2024/10 2023/10 2024/
Slide 8: Value Created for Our Shareholders
VALUE CREATED FOR OUR SHAREHOLDERS ‘ @ Foreign Ownership in Free Float (%) @i_ Stock Chart . SIRS RS Sh Seo e ° SKK SK “tes EPG ery FEF SESS SE EE EEE EE EEEE SES e oo FFP PF FE SFE EEE EEE I PO SE SE YF PPK KK KKK LK KKM MLM LM L —TirkTraktér —BIST- 100 —BIST-30 —BIST - MESY 2 Earnings per Share 34
Slide 9: Tractor
TRACTOR * TiirkTrakt6r has continued to be the first choice of farmers WY NEW HOLLAND as the uninterrupted market pene in the Turkish tractor Local Tractors (SBHP-1 4SHP) > market for the lest 17 years, with the broadest sales and Import Tractors (130HP-300HP) after-sales service network of New Holl
Slide 10: Construction Equipment
GA Koc CONSTRUCTION EQUIPMENT , > * TiirkTrakt6r, which stepped into the construction 4q CASE CONSTRUCTION 2g CONSTRUCTION - ipment industry in 201 he distributor of n ; Light Construction Equipment equipment industry in 20 CSU eo 0 ee d Light Construction Equipment New Holland branded construction
Slide 11: Agricultural Equipment
GAkoe AGRICULTURAL EQUIPMENT u QY NEW HOLLAND | x | ae Agricultural Equipment — Equipment Vv ¢ Agricultural equipment covers the widest range in Turkey of actively used products in all processes, starting with tillage, planting, spraying, fertilizing, and then harvesting and transporting. + In the a
Slide 12: Market Position of Our Brands
MARKET POSITION OF OUR BRANDS y Q% NEW HOLLAND + Market leader for 17 years in a row * 37.6%* market share * The largest dealer network covering all regions « Wide customer portfolio * Targeting professional farmers + 2" brand in the market * 10.7%* market share UME VLHOLY ¢ Weare strengthening our
Slide 13: Dealer Network Map
13 BARTIN KIRKLARELİ KASTAMONU SİNOP İSTANBUL EDİRNE ZONGULDAK KARABÜK ARTVİN SAMSUN ARDAHAN TEKİRDAĞ KOCAELİ DÜZCE RİZE ORDU TRABZON YALOVA SAKARYA AMASYA GİRESUN BOLU ÇANKIRI KARS ÇORUM TOKAT BAYBURT BİLECİK GÜMÜŞHANE ÇANAKKALE BURSA ERZURUM IĞDIR KIRIKKALE ANKARA ERZİNCAN BALIKESİR YOZGAT ESKİŞEH
Slide 14: After Sales Network Map
14 BARTIN KIRKLARELİ KASTAMONU SİNOP İSTANBUL EDİRNE ZONGULDAK KARABÜK ARTVİN SAMSUN ARDAHAN TEKİRDAĞ KOCAELİ DÜZCE RİZE ORDU TRABZON YALOVA SAKARYA AMASYA GİRESUN BOLU ÇANKIRI KARS ÇORUM TOKAT BAYBURT BİLECİK GÜMÜŞHANE ÇANAKKALE BURSA ERZURUM IĞDIR KIRIKKALE ANKARA ERZİNCAN BALIKESİR YOZGAT ESKİŞEH
Slide 15: Koc TiirkTraktor c CNH
15 Koc TiirkTraktor c CNH
Slide 16: Turkish Agriculture Sector
TURKISH AGRICULTURE SECTOR y Turkey's Turkey's Share in 20 Share ing 4. 6 0, agricultural 1 0. agricultural 1 ‘ GDP 0 the total 0 ECONOMY IN sot 0000) economy in gesor2022) es of2023) | employment (as of 102024) the World Europe 6.2% increase Agricultural Production 2022-2023 (million ton) m 2022 ™
Slide 18: Agricultural Support Programs in Turkey
AGRICULTURAL SUPPORT PROGRAMS IN TURKEY , Agricultural Support Payments ¢eitiont) “> 91.6 Ps 23.0 - se i | li _ Agricultural Investment Supports ition.) Investment Supports (ition 11) dt Ae 6 25.1 124 54 54 — 2019 2020 2021 2022 2023 + Agricultural support payments include items such as fuel, fertil
Slide 19: Consumer Finance
CONSUMER FINANCE 2s, § 2 s = =
Slide 20: Consumer Finance
CONSUMER FINANCE y Interest Rates * Ziraat Bank is in a competitive position with a post-subsidy 4 <4 Ziraat Bankasi interest rate of 29.4%. 58.8% Ziraat Bank loan usage was 32.9% as of May 2024. 4 79% 68% 63% 56% 50% Financing Distribution of TiirkTraktér's Sales Dec21 Aug22 Sep22 Oct22 Nov22 Jun23
Slide 22: TürkTraktör Finance
TURKTRAKTOR FINANCE y |, Aimed to enable farmers to have new tractors through the ¥, alternative financial solution and to support the increase of Y mechanization and modernization of agriculture All Financial Solutions TiirkTraktor Undera mam Finans Single Roof Om Covers tractor, agricultural equip
Slide 23: Highlights of Turkish Tractor Market
HIGHLIGHTS OF TURKISH TRACTOR MARKET GAKog TiirkTraktér7.... CNH
Slide 24: Highlights of Turkish Tractor Market
Total Tractor HIGHLIGHTS OF TURKISH TRACTOR MARKET Tractors older than 35 years 48% : Ratio of the Actively used tractors >24 Tractor years GA Kos Turkey was the 4" biggest tractor market in the world in the 2023 *Source: Association of Turkish Insurance and Reinsurance Companies TiirkTraktér7©....
Slide 26: Global Tractor Market
GLOBAL TRACTOR MARKET Total Global Market (thousand Unit) America = 6m 2071 | 2022 | 2023 | 2024 (Forecast) Important Export renee 620 560 510 451 North America 351 302 278 242 Europe 172 163 156 141 Other 97 95 76 68 © india 904 912 915 877 @ China 224 281 224 224 Wi Turkey 64 67 78 60-68 © Brazil
Slide 27: Tractor Export from Turkey
“&-Tractor Export from Turkey* (unit ‘Source: Tarmakbir 20,511 ie 20,148 7-098 16,016 9,901 ty 2021 2022 2023 2023/5 =Total =m TiirkTraktor 14% decrease ia 7 _ ii “8: TiirkTraktor’s Export (unit aki decrease 16,176 17005 16,016 2021 2022 2023 a 2024/5 » TiirkTraktér’s Share in Export* Source: Tarmak
Slide 28: Production
PRODUCTION F GAKog TiirkTraktér7.... CNH
Slide 29: Tractor Production in Turkey
TRACTOR PRODUCTION IN TURKEY y 6%. Tractor Production of Turkey* (unit) Oke TiirkTraktér’s Production (unit) ‘Source: Tarmakbir 15% i eS 92,581 mTotal mw TiirkTraktor 82,343 79,478 48,560 on yo 48,560 44,619 51,423 re: i lecrease 34,989 C Pa a 608 22,315 21,608 2021 2022 2023 2023/5 2024/5 2021 2022
Slide 30: Market Position
30 Market Market 2023 2024/6 Position Position New Holland 27,124 1. 12,160 1. Case IH 7,435 2. 3,468 2.
Slide 31: Sales of TürkTraktör
SALES OF TURKTRAKTOR at 6% Tractor Sales of TiirkTraktér (unit —_ Th > Locally produced tractor sales increased by 1% = === mlmport = Local m Export in 2024/10. 34,984 oo Import tractor sales increased by 9% in 2024/1. In 2024/1Q export tractor sales decreased by 12% comparing to 2023/10. 2022 2023
Slide 33: Income Statement
GA Kos (million TL) - Domestic Sales - Export Sales Total Sales Revenue Gross Profit Margin Net Operating Income Margin Profit Before Tax Margin Net Income Margin EBITDA Margin 2023/10 11,837 4,590 16,427 3,360 20.5% 2,438 14.8% 2,443 14.9% 1,850 11.3% 2,749 16.7% TiirkTraktir7©... INCOME STATEMENT
Slide 34: Financial Performance
20.5% FINANCIAL PERFORMANCE 2023/10 2024/10 Change Gross Profit Margin Operating Profit Margin Net Profit Margin EBITDA Margin 23.6% © Gross Profit Margin = Operating Profit Margin = Net Profit Margin m EBITDA Margin 2023/10 2024/10 TiirkTraktir7©... 34 CNH
Slide 35: Gross Profit to EBITDA Flow
Gross Profit OPEX Operatig Income Other& Profit Before Tax Financial Expense & Monetary Loss/Gain TiirkTraktir7©... Tax Expense GROSS PROFIT to EBITDA FLOW (nition 7) Net Profit 35 Depreciation& EBITDA Amortization CNH
Slide 36: Turnover days
36 *Turnover days are calculated according to 12-month rolling.
Slide 37: Debt Profile & Financial Ratios
DEBT PROFILE & FINANCIAL RATIOS y (million TL) 2023 2024/10 Change - Cash & Cash Equivalents 14,189 13,023 8% - Financial Investments 13 11 -11% - Total Financial Debt 6,661 7,414 11% Net Financial Position 7,540 5,620 -25% Current Assets / Total Assets 77% 76% -1 pp Current Liabilities / Total Liab
Slide 38: 2024 Expectations
2024 EXPECTATIONS , Tractor Market > Turkish Tractor Industry Volume: 60,000 — 68,000 unit > Local Tractor Sales*: 31,000 — 35,000 unit ie ee > Tractor Exports: 13,500 — 15,000 unit TuirkTraktOr > carex: 80-90 mitlions *Sales to the dealers included imported tractors *Due to the slowdown in export m
Slide 39: Investor Relations Contact
INVESTOR RELATIONS CONTACT 8 Sila AKGAY Merig ONARGAN Investor Relations and Sustainability Team Leader Investor Relations Leader Specialist +90 312 2332502 @ +90 312 2332504 Sila. Akcay@turktraktor.com.tr Meric.Onargan@turktraktor.com.tr investorrelations@turktraktor.com.tr @AKog TiirkTraktér7©...

Türk Traktör ve Ziraat Makineleri A.Ş. — Q1 2024 Earnings Presentation on 6ix

Turk Traktor Ve Ziraat Makineleri A.s — Q1 2024 Earnings Presentation

Slide 1: Investor Presentation

Slide 2: Disclaimer

Slide 3: Corporate Structure

Slide 4: Plants & Facilities

Slide 5: Position within CNH Industrial

Slide 6: Investment Highlights

Slide 7: TürkTraktör at a Glance

Slide 8: Value Created for Our Shareholders

Slide 9: Tractor

Slide 10: Construction Equipment

Slide 11: Agricultural Equipment

Slide 12: Market Position of Our Brands

Slide 13: Dealer Network Map

Slide 14: After Sales Network Map

Slide 15: Koc TiirkTraktor c CNH

Slide 16: Turkish Agriculture Sector

Slide 17: Agricultural Support Programs in Turkey

Slide 18: Agricultural Support Programs in Turkey

Slide 19: Consumer Finance

Slide 20: Consumer Finance

Slide 21: TürkTraktör Finance

Slide 22: TürkTraktör Finance

Slide 23: Highlights of Turkish Tractor Market

Slide 24: Highlights of Turkish Tractor Market

Slide 25: Global Tractor Market

Slide 26: Global Tractor Market

Slide 27: Tractor Export from Turkey

Slide 28: Production

Slide 29: Tractor Production in Turkey

Slide 30: Market Position

Slide 31: Sales of TürkTraktör

Slide 32: Financial Results

Slide 33: Income Statement

Slide 34: Financial Performance

Slide 35: Gross Profit to EBITDA Flow

Slide 36: Turnover days

Slide 37: Debt Profile & Financial Ratios

Slide 38: 2024 Expectations

Slide 39: Investor Relations Contact