Ucay Muhendislik Enerji Ve Iklimlendirme Teknolojileri · BIST:UCAYM
Ucay Muhendislik Enerji Ve Iklimlendirme Teknolojileri — IPO Roadshow (December 2025)
47 slides from Ucay Muhendislik Enerji Ve Iklimlendirme Teknolojileri's IPO roadshow presentation, December 2025
Slide 1: Investor Presentation 2025
MUHENDISLI pe i} 1 ; Investor Presentation »s a ——_______—_— 2025 K ~_
Slide 2: Company Overview
COMPANY uy OVERVIEW
Slide 3: History
20 Establishment of the 20 Opening of the first 20 Commencement of 20 Opening of the 7th 00 04 07 12 branch in Tuzla, operations in Mechanical branch nationwide in company in Istanbul. and Electrical Türkiye. Istanbul. Contracting. 20 20 20 20 HISTORY Establishment of Elaris, Receiving the Reaching
Slide 4: Ownership Structure
Ownership Structure As of September 30, 2025, the shareholding structure is as follows: September 30, 2025 SHAREHOLDER Capital Amount Ownership Ratio AYHAN KARACABEY 87.500.000₺ 50.00% MUSTAFA BOZKURT 87.500.000₺ 50.00% TOTAL 175.000.000₺ 100.00% AYHAN KARACABEY MUSTAFA BOZKURT Chairman of the Board
Slide 5: Board of Directors
BOARD OF DIRECTORS Organizational Chart YAVUZ BOZKUŞ AYHAN KARACABEY MUSTAFA BOZKURT OZAN EREN DURSUN SAAT Board Member & Internal Chairman of the Board Vice Chairman of the Board Board Member & Chief Financial Independent Board Member Audit Director Officer (CFO)
Slide 6: Executive Board
EXECUTIVE BOARD Organizational Chart TURAN ŞAKACI OZAN EREN Zafer Çüman EYÜP ARAR Chief Executive Officer (CEO) & Executive Board Member Executive Board Member Executive Board Member Chairman of the Executive Board (Finance & Administrative Affairs) (Branches, Solar Energy Systems (PV) & HVAC) (Elec
Slide 7: Provinces Where We Operate
PROVINCES 22 WHERE WE provinces, 35+ OPERATE locations HVAC Electromechanical Systems Solar Energy E-Mobility
Slide 8: Group Activities Üçay Mühendislik
GROUP ACTIVITIES ÜÇAY MÜHENDİSLİK HVAC ELECTRICAL & MECHANICAL ENERGY E-MOBILITY EV CHARGING NETWORK OPERATION NATURAL GAS ELECTRICAL EV CHARGING ELECTRICAL MECHANICAL SOLAR ENERGY SERVICES SYSTEMS SYSTEMS Natural Gas Lighting Heating Rooftop Solar Authorized Installations Heat Pumps Systems Power P
Slide 9: Activities
ACTIVITIES
Slide 10: HVAC Field Activities
İKLİMLENDİRME HVAC ALANINDAKİ FAALİYETLER FIELD ACTIVITIES NATURAL GAS ELECTRICAL ELARİS OTHER SYSTEMS SYSTEMS MECHANICAL 0.1% 0.0% NATURAL GAS HEAT PUMPS INSTALLATIONS 22,5% BOILER & RADIATOR SPLIT AIR SYSTEMS CONDITIONERS 15,3% 43,9% HVAC ELECTRICAL VRF / MULTI AIR BOILERS CONDITIONING SYSTEMS 18,
Slide 11: Electrical and Mechanical Field Activities
ELECTRICAL AND MECHANICAL FIELD ACTIVITIES ELECTRICAL MECHANICAL ELARİS OTHER LIGHTING HEATING MECHANICAL 0.1% SYSTEMS SYSTEMS 0.0% BUILDING COOLING 22,5% AUTOMATION SYSTEMS ENERGY AUTOMATION PLUMBING SYSTEMS 15,3% 43,9% HVAC ELECTRICAL MEDIUM VOLTAGE FIRE PREVENTION AND FIREFIGHTING SYSTEMS SYSTEMS
Slide 12: Electrical and Mechanical Completed Projects
COMPLETED PROJECTS ELECTRICAL AND MECHANICAL PROJECTS Park Yaşam PROJECT START / COMPLETION YEAR: Finans Şehir PROJECT START / COMPLETION YEAR: Mavişehir 2008/2010 Project 2021/2023 PROJECT OWNER: PROJECT OWNER: Emlak Konut GYO SİNPAŞ GYO SCOPE OF WORK: SCOPE OF WORK: Electrical Electrical CITY / DI
Slide 13: Electrical and Mechanical Completed Projects
COMPLETED PROJECTS ELECTRICAL AND MECHANICAL PROJECTS PROJECT START / PROJECT START / İstanbul Fikirtepe COMPLETION YEAR: 2022/2024 Marmaris COMPLETION YEAR: 2022/2024 Urban Design Project PROJECT OWNER: Kızılbük Project PROJECT OWNER: 3419/1 Parsel Emlak Konut GYO Phase 2 Kızılbük GYO Construction
Slide 14: Electrical and Mechanical Ongoing Projects
ONGOING PROJECTS ELECTRICAL AND MECHANICAL PROJECTS PROJECT START / PROJECT START / Marmaris COMPLETION YEAR: 2022/ Ongoing Nidapark COMPLETION YEAR: 2022/ Ongoing Kızılbük Project PROJECT OWNER: Çengelköy PROJECT OWNER: Hotel Phase Kızılbük GYO Project Tahincioğlu Gayrimenkul SCOPE OF WORK: SCOPE O
Slide 15: Electrical and Mechanical Ongoing Projects
ONGOING PROJECTS ELECTRICAL AND MECHANICAL PROJECTS PROJECT START / PROJECT START / Marmaris COMPLETION YEAR: 2022 / Devam Ediyor Marmaris COMPLETION YEAR: 2021 / Devam Ediyor Devre Mülk Project PROJECT OWNER: Devre Mülk PROJECT OWNER: Phase 2 Kızılbük GYO Project Phase 1 Kızılbük GYO 2,3,4,7,8,10,1
Slide 16: Electrical and Mechanical Ongoing Projects
ONGOING PROJECTS ELECTRICAL AND MECHANICAL PROJECTS PROJECT START / PROJECT START / Divan COMPLETION YEAR: 2023/ Ongoing Marmaris COMPLETION YEAR: 2023/ Ongoing Antalya PROJECT OWNER: Devre Mülk PROJECT OWNER: Talya Marmaris Altınyunus Project Phase 1 Kızılbük GYO SCOPE OF WORK: SCOPE OF WORK: Mecha
Slide 17: Electrical and Mechanical Ongoing Projects
ONGOING PROJECTS ELECTRICAL AND MECHANICAL PROJECTS PROJECT START / PROJECT START / Kent Etiler COMPLETION YEAR: 2024/ Ongoing Piyalepaşa COMPLETION YEAR: 2024/ Ongoing Urban Transformation PROJECT OWNER: BCD Blocks PROJECT OWNER: Project Mesa & ASL Adi Ortaklığı Polat Holding SCOPE OF WORK: SCOPE O
Slide 18: Energy Field Activities
ENERGY FIELD ACTIVITIES ELARİS OTHER SOLAR ENERGY MECHANICAL 0.1% SYSTEMS 0.0% 22,5% ROOFTOP SOLAR ENERGY PLANTS 15,3% 43,9% HVAC GROUND-MOUNTED ELECTRICAL SOLAR ENERGY PLANTS AGRICULTURAL SOLAR ENERGY 18,2% PLANTS ENERGY – SOLAR ENERGY
Slide 19: Solar Energy Projects
SOLAR ENERGY PROJECTS COMPLETED AND ONGOING PROJECTS PROJECT START / PROJECT START / PROJECT START / Avşar Emaye COMPLETION YEAR: Peksa COMPLETION YEAR: Merinos Tekstil COMPLETION YEAR: Sanayi Müzesi 2023/2024 2023/2024 2023/2024 Solar Energy Project PROJECT OWNER: Solar Energy Project PROJECT OWNER
Slide 20: Solar Energy Projects
SOLAR ENERGY PROJECTS COMPLETED AND ONGOING PROJECTS PROJECT START / PROJECT START / PROJECT START / Mavi Akım COMPLETION YEAR: 2022/2022 Zümrüt SHD COMPLETION YEAR: 2022/2022 Kutay A.Ş. COMPLETION YEAR: 2021/2022 Solar Energy Project PROJECT OWNER: Solar Energy Project PROJECT OWNER: Solar Energy P
Slide 21: Residential Solar Energy Projects
RESIDENTIAL SOLAR ENERGY PROJECTS PROJECT OWNER: PROJECT OWNER: PROJECT OWNER: Ali Ayhan Ölçer Hakan Kılıç Cennet Kesici SCOPE OF WORK: SCOPE OF WORK: SCOPE OF WORK: Residential Solar Energy Residential Solar Energy Residential Solar Energy CITY / DISTRICT: CITY / DISTRICT: CITY / DISTRICT: Bodrum M
Slide 22: E-Mobility Field Activities
E-MOBILITY FIELD ACTIVITIES ELARİS OTHER EV CHARGING MECHANICAL 0.1% SERVICES 0.0% 22,5% AUTHORIZED EATON EV CHARGING DISTRIBUTOR NETWORK OPERATION 15,3% 43,9% HVAC ELECTRICAL DC CHARGING STATIONS 18,2% AC CHARGING STATIONS ENERGY - SOLAR ENERGY
Slide 23: Provinces Served by Elaris Charging Stations
PROVINCES SERVED BY ELARIS CHARGING STATIONS Kırklareli Bartın Sinop Kastamonu Zonguldak Karabük İstanbul Samsun Tekirdağ Artvin Ardahan Kocaeli Düzce Rize Ordu Trabzon Edirne Çankırı Sakarya Amasya Yalova Bolu Giresun Çorum Tokat Kars Gümüşhane Bayburt Bursa Bilecik Çanakkale Erzurum Kırıkkale Iğdı
Slide 24: Technology Field Activities
TECHNOLOGY FIELD ACTIVITIES
Slide 25: Elaris EV Charging Software and Charging Station Installation
ELARİS EV CHARGING SOFTWARE AND CHARGING STATION INSTALLATION It is a software project that enables the monitoring, fault management, and maintenance tracking of EV charging stations installed in the field.
Slide 26: Strategic Priorities That Build a Better Future
STRATEGIC PRIORITIES THAT BUILD A BETTER FUTURE Üçay Engineering shapes its strategic priorities with a holistic approach that integrates environmental responsibilities, SOLAR technological advancements, and customer expectations, forming ENERGY the foundation of its environmentally conscious engine
Slide 27: AI-Based Optimizer Design for Solar Energy Plants
AI-BASED OPTIMIZER DESIGN FOR SOLAR ENERGY PLANTS “Development of an IoT-based optimization (optimizer) system to ensure maximum efficiency of PV panels” titled project has been approved to be supported with the contribution of Üçay Engineering and TÜBİTAK.
Slide 28: Approximately 4% Market Share in HVAC Sector
The company holds approximately a 4% market share in the HVAC sector based on the number of natural gas connections. Engineers are employed at each branch of the company, with a total engineering workforce exceeding 80 engineers. The company has a strong market share and a The company’s human resour
Slide 29: Our Partners
our Partners yoaxn E:TeN twceSrms kre al 4 ARKOM wonsenen Mrarcaz © bes yap cane. pm | — enmocomn marge @zetacan @avvaz iz | ere B BORSELBORU Dawcas izbirakan drinler samsuns LG cress myo SEVEN Or Halle “QMS ioe rons GpuTsaeE EG FRANKISCHE @ cazin-cazuen RES WENTA wea
Slide 30: 22 Cities, 35 Locations, 2 Million Individual Customers
22 cities 35 locations 2 Million individual customers 500.000.000 $ electromechanical contract volume Approximately 100 Solar Energy Projects Nearly 100 e-mobility stations 1000+ employees As of September 30, 2025, the company continues its operations in 22 cities (primarily in the Marmara, Aegean,
Slide 31: Public Offering Information
Public Offering Information Üçay Mühendislik Enerji ve Issuer İklimlendirme Teknolojileri A.Ş. Issued Capital (Pre-IPO) 175.000.000₺ Capital Increase 50.000.000₺ Share Sale (Secondary Offering) 10.000.000₺ Public Offering Total Shares to Be Offered to the Public 60.000.000₺ Information Post-IPO Capi
Slide 32: Use of Proceeds
USE OF PROCEEDS Establishment or Acquisition of an Unlicensed or Licensed Solar Energy Plant in the Name of the Company %40 - %50 The proportional allocation of the portion remaining from the gross IPO proceeds obtained through the capital Expansion of the Branch Network by Opening New Branches incr
Slide 33: Financial Statements
FINANCIAL STATEMENTS
Slide 34: Factors Supporting Investment
FACTORS SUPPORTING INVESTMENT Increasing profit The company generates revenue from five different activities: HVAC, margins, low financial solar energy plant installation, electrical works, mechanical works, The company’s leverage/indebtedness and electric vehicle charging station operation and sale
Slide 35: Assets
31.12.2022 31.12.2023 31.12.2024 30.09.2025 Current Assets Composition 2.192.168.790₺ Current Assets 1.660.181.461₺ 2.192.168.790₺ 1.485.914.764₺ 1.361.526.934₺ Cash and Cash Equivalents 226.180.002₺ 112.999.688₺ 222.844.873₺ 190.670.094₺ 1.660.181.461₺ %38,7 Financial Investments Other Current Asse
Slide 36: Sources
SOURCES 31.12.2022 31.12.2023 31.12.2024 30.09.2025 Short-term Liabilities 1.538.783.009₺ 1.762.464.122₺ 923.653.362₺ 707.821.758₺ Composition of Financial Liabilities 451.127.203₺ 241.436.896₺ 41.825.206₺ 63.768.100₺ Liabilities and Equity Trade Payables 380.732.450₺ 455.508.653₺ 451.463.834₺ 437.7
Slide 37: Financial Performance
FINANCIAL PERFORMANCE Liquidity Ratios 31.12.2022 31.12.2023 31.12.2024 30.09.2025 Current Ratio (Current Assets / Short-term Liabilities) %108 %124 %161 %192 Quick Ratio ((Current Assets – Inventories) / Short-term Liabilities) %70 %97 %127 %154 Cash Ratio (Cash and Cash Equivalents / Short-term Li
Slide 38: Income Statement
INCOME STATEMENT 30.09.2025 31.12.2022 31.12.2023 31.12.2024 (Son 12 ay) Revenue 3.290.596.506₺ 3.924.234.497₺ 3.711.066.155₺ 2.999.611.041₺ Cost of Sales (-) -2.533.092.835₺ -2.890.875.965₺ -2.727.194.417₺ -2.290.617.903₺ Gross Profit 757.503.671₺ 1.033.358.532₺ 983.871.738₺ 708.993.138₺ Operating
Slide 39: Income Statement
Revenue (mio TL) Gross Profit (mio TL) INCOME STATEMENT 3.290,6₺ 3.924,2₺ 3.711,1₺ 2.999,6₺ 757,5₺ 1.033,4₺ 983,9₺ 709₺ 2022 2023 2024 2025 2022 2023 2024 2025 EBITDA (mio TL) Net Profit for the Period (mio TL) 379,5₺ 611,8₺ 587,2₺ 528,3₺ -54,3₺ 88,2₺ 127,2₺ 61,2₺ 2022 2023 2024 2025 2022 2023 2024
Slide 40: Revenue
Sales Composition by Business Segment REVENUE 3.924.234.497 %2,1 3.711.066.155 REVENUE 31.12.2022 31.12.2023 31.12.2024 30.09.2024 30.09.2025 %0,1 3.290.596.506 %15,9 HVAC 2,338,442,987₺ 2,201,763,628₺ 1,640,010,587₺ 1,210,539,949₺ 886,405,975₺ EV Charging and Other %4,4 %19,4 Mechanical %5,9 %7,9 E
Slide 41: Gross Profit Margin, EBITDA Margin, Net Profit Margin
Gross Profit Margin EBITDA Margin Net Profit Margin %26,3 %26,5 %17,6 %15,6 %15,8 %23 %23,6 %3,4 %11,5 %2,2 %2 -%1,7 2022 2023 2024 2025/09 2022 2023 2024 2025/09 2022 2023 2024 2025/09
Slide 42: Industry Analysis
INDUSTRY ANALYSIS
Slide 43: HVAC Sector
HVAC Sector Türkiye ranks 7th among European countries in terms According to Technavio data, the global heating, ventilation, and air of the number of conditioning (HVAC) market, which grew at a CAGR of 5.4% between companies 22 operating in the provinces, 2018 and 2022 to reach a size of USD 200.03
Slide 44: Solar Energy Sector
Türkiye Solar Energy Solar Energy Potential Atlas Sector Türkiye receives an average of 2,741 hours of sunlight per year (7.5 hours per day) and has the second-highest solar potential in Europe after Spain. Located on the “solar belt,” Türkiye’s total annual solar energy potential has been determine
Slide 45: Electric Vehicle Sector
Electric Vehicle Sector In recent years, an e-mobility revolution has been taking place worldwide in parallel with the renewable energy trend. Electric vehicles (“EV”) lie at the center of e-mobility. Many major automobile manufacturers have announced plans to accelerate the transition to a fully el
Slide 46: Electrical and Mechanical Sector
Electrical and Mechanical Sector According to the Plumbing Contracting Sector Size 2023 AGRICULTURAL Report published by the Mechanical Installation Contractors Association (“MTMD”), the number of companies operating in the electrical and mechanical installation sector increased from 25,742 in 2009
Slide 47: Thank You
itd Thank , You | MUHENDISLI
Üçay Mühendislik Enerji ve İklimlendirme Teknolojileri A.Ş. — IPO Roadshow (December 2025) on 6ix