Turk Traktor Ve Ziraat Makineleri A.s. · BIST:TTRAK
Turk Traktor Ve Ziraat Makineleri A.s — FY2025 Earnings Presentation
36 slides from Turk Traktor Ve Ziraat Makineleri A.s's earnings presentation, Mar 16, 2026
Slide 1: Investor Presentation
1 INVESTOR PRESENTATION 16.03.2026
Slide 2: Disclaimer
DISCLAIMER 2 Withthe CapitalMarketsBoardof Turkey’sBulletindated28.12.2023 numbered2023/81, CMB announcedthatissuers and capitalmarketinstitutionsshall preparetheirannualfinancialstatementsendingon 31.12.2023 or later,in accordancewith IAS 29 inflationaryaccountingprovisions. Accordingly,this presen
Slide 3: Corporate Structure
CORPORATE STRUCTURE 3 Total2,120 employees** 1,485 shop-flooremployee Established in 635 officeemployee 1954 54,000 units tractorproductioncapacity* The oldest continuously manufacturing company of Turkish automotive industry Shareholder Structure Founded in 1926, Koç Holding is Free Float CNH Indus
Slide 4: Plants & Facilities
PLANTS & FACILITIES 4 Ankara Factory Erenler Factory Ankara CE Facility İzmir CE Facility Engine, Transmission and Axle Manufacturing Center Paint shop, Cabin Manufacturing and Tractor Indoor Area : 3,245 m2 Opening : 18.09.2014 CE Manufacturing Center Assembly Processes Total Area : 9,748 m2 Indoor
Slide 5: TürkTraktör
TÜRKTRAKTÖR 5 Position within CNH Industrial The sole design and production centerNew of Holland TDand Case IH JX series tractors The First R&D Center in its Sector in the world Manufacturing Technology R&D Center with total area13,315 of m2 which is accredited by the Ministry of Industry The sole p
Slide 6: Investment Highlights
INVESTMENT HIGHLIGHTS 6 Leading tractor manufacturer 1 with diversified product range The largest tractor producer in Turkey 2 Sustainable growth 3 Good shareholder returns with 54K tractor capacity Tractor market leader for the last Vertically integrated operation consecutive 19 years Has long-term
Slide 7: TürkTraktör at a Glance
TÜRKTRAKTÖR AT A GLANCE 7 Tractor Manufacturing(unit) Total Tractor Sales (unit) Import Tractor Domestic Tractor Export 43.611 44,490 25.833 27,023 5.262 3.325 5,112 2,716 2024 2025 2025/2 2026/2 2024 2025 2025/2 2026/2 Total Revenue(million TL) Gross Profit(million TL) 87,658 53,837 16,910 7,402 20
Slide 8: Value Created for Our Shareholders
VALUE CREATED FOR OUR SHAREHOLDERS 8 Foreign Ownership in Free Float(%) Stock Chart 350 300 250 39.5 33.5 200 27.5 26.6 150 100 50 0 TürkTraktör BIST - 100 BIST - 30 BIST - MESY Earnings per Share 75.1 4.6 2024 2025
Slide 9: Tractor
TRACTOR 9 • TürkTraktör has continued to be the first choice of farmers as the uninterrupted market leader in the Turkish tractor market for the 19 years, with the broadest sales and -after Local Tractors(55HP-145HP) Local Tractors(65HP-117HP) ImportTractors(130HP-340HP) sales service network of New
Slide 10: Construction Equipment
CONSTRUCTION EQUIPMENT 10 • TürkTraktör, which stepped into the construction equipment industry in 2013 as the distributor of Case and Light Construction Equipment Light Construction Equipment New Holland branded construction equipment, provides services in this field with its wide product range con
Slide 11: Agricultural Equipment
AGRICULTURAL EQUIPMENT 11 Agricultural Equipment Agricultural Equipment • Agricultural equipment covers a wide range of actively used products in all processes, starting soilwith preparation, tillage, planting, spraying, fertilizing, and then harvesting haulage. and • In the agricultural equipment g
Slide 12: Market Position of Our Brands
MARKET POSITION OF OUR BRANDS 12 • Market leader for almost 19 years in a row • Targeting professional farmers • 36.5%* market share • 3th brand in the market • The largest dealer network • 8.0%* market share covering all regions • Wide customer portfolio • TürkTraktör started domestic production of
Slide 13: Network - Tractor
NETWORK - TRACTOR 84 New Holland Tractor Dealer 42 Case IH Tractor Dealer Broadest network in Turkey’s agricultural sector Widely distributed and close to customer 376 service* Our Strengths (New Holland and Case IH) Financially strong in Network Wide customer portfolio Experience 143 spare parts de
Slide 14: Network – Construction Equipment
NETWORK – CONSTRUCTION EQUIPMENT 14 3 TürkTraktör CE Dealer 27 New Holland CE Dealer 5 Case CE Dealer *as of 31.12.2025
Slide 15: Turkish Agriculture Sector
TURKISH AGRICULTURE SECTOR 15
Slide 16: Turkish Agriculture Sector
TURKISH AGRICULTURE SECTOR 16 Turkey’s agricultural economy 7. (as of 2024) Turkey’s agricultural economy 1. (as of 2025) Share in GDP 5.0% (as of 3Q 2025) Share in the total employment 14.0% (as of 3Q 2025) in the World in Europe Agricultural Production 2024 - 2025 (million ton) 2024 2025 136.9 121
Slide 17: Agricultural Support Programs in Turkey
AGRICULTURAL SUPPORT PROGRAMS IN TURKEY 17
Slide 18: Agricultural Support Programs in Turkey
AGRICULTURAL SUPPORT PROGRAMS IN TURKEY 18 Agricultural Subsidy Payments(billion TL) Agricultural Investment Supports(billion TL) 190.0 168.0 166.3 158.6 100.6 91.6 63.4 39.6 41.3 21.9 23.0 25.1 17.0 12.1 5.1 5.1 2019 2020 2021 2022 2023 2024 2025 2026 2019 2020 2021 2022 2023 2024 2025 2026 Budget
Slide 19: Consumer Finance
CONSUMER FINANCE TiirkTraktor
Slide 20: Consumer Finance
20 CONSUMERFINANCE Interest Rates Ziraat Bank is in a competitive position with post-subsidy a interest rate of 21.0%. 58.8% 50.4% 49.2% 47.0% 45.0% 45.0% 45.0% 43.8% 42.0% 42.0% 58.8% 36.6% 29.4% Ziraat Bankloan usage was 18.3% in 2025. 20.4% 29.4% 18.0% 25.2% 24.6% 23.5% 22.5% 21.0% 22.5% 21.3% 22
Slide 21: TürkTraktör Finance
TURKTRAKTOR FINANCE TurkTraktor ges Finans TiirkTraktor
Slide 22: TürkTraktör Finance
TÜRKTRAKTÖR FINANCE 22 First in the Turkish agriculture sector Aimed to enable farmers to have new tractors through the alternative financial solution and to support the increase of mechanization and modernization of agriculture All Financial Solutions Covers tractor, agricultural equipment, and Und
Slide 23: Highlights of Turkish Tractor Market
HIGHLIGHTS OF TURKISH TRACTOR MARKET 23
Slide 24: Highlights of Turkish Tractor Market
HIGHLIGHTS OF TURKISH TRACTOR MARKET 24 ~ 2M 650K Total Tractors older Tractor than35 years ~ 1.3M* 48% Ratio of the Actively used tractors >24 Tractor years Turkey was the th 5 biggest tractor market in the world in the 2025 *Source: Association of Turkish Insurance and Reinsurance Compan
Slide 25: Global Tractor Market
GLOBAL TRACTOR MARKET GAKos TiirkTraktor
Slide 26: Global Tractor Market
GLOBAL TRACTOR MARKET 26 Turkey is theworld’s 5th largest tractor market according to total tractor sales in 2025. Total Global Market(Thousand Unit) Most important export markets contracted 5% 2023 2024 2025 25 vs. 24 Global tractor market increased 5% in 2025 Important Export 2025 vs. 2026 Forecas
Slide 27: Export
EXPORT 27 Tractor Export from Turkey(unit) TürkTraktör’s Export(unit) Source: Tarmakbir Total TürkTraktör 12% decrease 17,106 15,328 12,516 12,516 11,023 11,023 2,263 1,593 2278 1,710 1,593 1,710 2024 2025 2025/2 2026/2 2024 2025 2025/2 2026/2 TürkTraktör’s Share in Export TürkTraktör is an internat
Slide 28: Production
PRODUCTION y See Bee" ie Ea ~ See he & - , >. ~~" GAKos TiirkTraktor CNH
Slide 29: Tractor Production in Turkey & TürkTraktör
TRACTOR PRODUCTION IN TURKEY & TÜRKTRAKTÖR 29 Tractor Production of Turkey(unit) TürkTraktör’s Production(unit) Source:Tarmakbir Total TürkTraktör 72,562 41% decrease 43,611 42,734 43,611 25,833 25,833 8,177 5,262 5,466 3,325 5,262 3,325 2024 2025 2025/2 2026/2 2024 2025 2025/2 2026/2 TürkTraktör’s
Slide 30: Turkish Tractor Market & TürkTraktör
TURKISH TRACTOR MARKET & TÜRKTRAKTÖR 30 Turkish Tractor Market(unit) Market Share of TürkTraktör Source: TURKSTAT Total TürkTraktör Source:TURKSTAT 63,546 40,498 49.9% 29,380 46.2% 44.5% 15,570 38.4% 6,546 3,268 2,614 1,163 2024 2025 2025/2 2026/2 2024 2025 2025/2 2026/2 Market Market The Turkish tr
Slide 31: Sales of TürkTraktör
SALES OF TÜRKTRAKTÖR 31 Tractor Sales of TürkTraktör(unit) Locally produced tractor salesdecreased by50% Import Local Export in 2025. 31,222 Import tractor salesdecreasedby 44% in 2025. 15.577 12,516 11.023 In 2025,tractor exportsdecreasedby 12% compared to 2024. 752 423 2024 2025 Construction Equip
Slide 32: Financial Results
GAkog FINANCIAL RESULTS _— _¥ ¥ wv TiirkTraktor CNH
Slide 33: Summary Financials
SUMMARYFINANCIALS 33 EBITDA (TL) Profit Before Tax (TL) Net Income (TL) Revenue (TL) 2025 53,837 Million -39% YoY 4,956 Million -61% YoY 1,005 Million -90% YoY 455 Million -94% YoY 2025 2025 2025 4Q25 12,909 Million -31% YoY 9,2% Margin -5,5 pp 1,9% Margin -10,0 pp 0,8% Margin -7,7 pp 743 Million -6
Slide 34: Key Performance Indicators
KEY PERFORMANCE INDICATORS 34 EBITDAMargin Average NWC / Sales 17.6% 14.7% 11.4% 9.2% -4.1% -1.3% 2024 GP Margin Operating 2025 2024 2025 Expenses CAPEX/Sales Free Cash Flow Net Financial Debt 8,744 6.7% 5.7% 4,147 2,839 2,056 2024 2025 2024 2025 2024 2025
Slide 35: 2026 Expectations
2026 EXPECTATIONS 35 Tractor Market : 27,000 – 33,000 units Turkish Tractor Industry Volume Local Tractor Sales*:11,500 – 14,500 units Tractor Exports:11,000 – 13,500 units CAPEX: 75 – 100 million $ *Salestothedealersincludedimportedtractors.
Slide 36: Investor Relations Contact
INVESTOR RELATIONS CONTACT 36 Fatma CAVLİ Tuba Şenol Milli Investor Relations Team Leader Investor Relations Leader Specialist Fatma.Cavli@turktraktor.com.tr Tuba.SenolMilli@turktraktor.com.tr investorrelations@turktraktor.com.tr
Türk Traktör ve Ziraat Makineleri A.Ş. — FY2025 Earnings Presentation on 6ix