Oyak Cimento Fabrikalari A.s. · BIST:OYAKC
Oyak Cimento Fabrikalari A.s — OYAK Çimento Fabrikaları A.Ş. — Q1 2026 Earnings Presentation
44 slides from Oyak Cimento Fabrikalari A.s's earnings presentation, May 8, 2026
Slide 1: Financial Results 1Q2026
FINANCIAL RESULTS 1Q2026 08 May 2026
Slide 2: From East to West: Greener, Stronger & Together
From East to West: Greener, Stronger & Together
Slide 3: Key Messages & Highlights, Cement Sector, Operations, Projects & Sustainability
Key Messages & Highlights Cement Sector Operations Projects & Sustainability Financial Results Q&A 2
Slide 4: Key Messages & Highlights
&. Key Messages & Highlights GROUP HOLDINGS
Slide 5: Key Messages & Financial Highlights · 1Q2026 vs 1Q2025
Key Messages & Financial Highlights · 1Q2026 vs 1Q2025 • Seasonality, high base effect in the Earthquake Region, severe weather conditions and change in tax legislation put pressure on the 1Q26 financials. Net Sales (1Q2026) (vs 4Q2025) (vs 1Q2025) 10,710 m ₺ (210 m €) -32% -21% • According to the M
Slide 6: Tier 1 Peer Analysis · Performances in 1Q2026 vs 1Q2025
Tier 1 Peer Analysis · Performances in 1Q2026 vs 1Q2025 -21% -18% 0% 0% -6% 13,551 11,653 11,632 10,710 Sales Revenue 5,623 5,613 4,264 4,006 1,684 1,388 OYAKC Competitor 1 Competitor 2 Competitor 3 Competitor 4 -29% -40% -17% 121% -75% EBITDA 3,602 2,571 1,867 1,541 634 707 378 409 185 176 OYAKC Co
Slide 7: Cement Sector
OYAK, CEMENT @ CIN\POR Cement Sector
Slide 8: Turkish Cement Market · Clinker Capacity
Turkish Cement Market · Clinker Capacity Black Sea Türkiye Clinker Prod. Cap. 10.7 M ton Clinker # of # of # of Integrated P. 8 Prod. Cap. Integrated P. Grinding P. # of Grinding P. 5 Marmara 100.5 56 22 Clinker Prod. Cap. 23.3 M ton M ton # of Integrated P. 11 # of Grinding P. 2 Clinker Capacity Gr
Slide 9: Turkish Cement Sector · Domestic Sales 12M2025 vs 12M2024
Turkish Cement Sector · Domestic Sales 12M2025 vs 12M2024 Türkiye +9.7% +11.6% -1.0% +21.0% -2.6% +16.0% +8.5% +14.2% OYAK Cement Plants (integrated) Source: TCMB 8
Slide 10: Turkish Cement Sector · Domestic Sales 2M2026 vs 2M2025
Turkish Cement Sector · Domestic Sales 2M2026 vs 2M2025 Türkiye -11.8% +25.1% +23.2% -44.3% -3.3% +9.8% -45.6% -44.0% OYAK Cement Plants (integrated) Source: TCMB 9
Slide 11: Turkish Cement Sector · 2M26, 2M25 vs 2M24
Turkish Cement Sector · 2M26, 2M25 vs 2M24 Cement Production (m ton) Export (m ton) 2024 – 2025 2024 – 2025 12.2 11.5 -6% 3.0 3.2 2.8 +5% 10.3 2025 – 2026 2025 – 2026 -10% 2.2 2.3 2.1 -13% Cement 0.8 0.9 0.7 Clinker 2M24 2M25 2M26 2M24 2M25 2M26 Domestic Cement Consumption (m ton) Clinker Stock (m t
Slide 12: Turkish Cement Sector · 2M26 vs 2M25
Turkish Cement Sector · 2M26 vs 2M25 Cement Exports (‘000 ton) Clinker Exports (‘000 ton) 2M25 2M26 2M25 2M26 -8% -29% 2,290 929 2,116 657 1,192 920 127 121 174 225 167 189 71 50 67 99 100 86 90 41 63 57 32 52 USA Italy Syria Haiti Bulgaria Total Italy TRNC Syria Ivory Coast Belgium Total Source: OA
Slide 13: Operations
@ Operations Potcc GROUP HOLDINGS
Slide 14: OYAK Cement · Türkiye
OYAK Cement · Türkiye Cement Capacity Zonguldak 24 m ton İstanbul 1 Kocaeli Ordu Rize 5 1 3 3 Trabzon 1 5 1 Bolu 1 1 3 1 1 Ankara Concrete Capacity 1 14.5 m m 3 8 2 1 Aggregates Capacity 4 7.8 m ton Denizli 2 2 1 1 1 1 1 1 2 4 Mardin 1 1 7 2 Gaziantep Hatay OYAK Cement operates 7 integrated and 3 Ad
Slide 15: Export Footprint of OYAK Cement
Export Footprint of OYAK Cement United Kingdom – Terminal at Port Bristol Romania – Terminal at Port Mangalia France – Terminal at Port la Rouen Türkiye – Ünye Port France – Terminal at Port la Nouvelle Türkiye – Aslan Port Portugal – Terminal at Port Viana Do Castelo TRNC – Terminal at Port Famagus
Slide 16: Projects & Sustainability
Potcc GROUP HOLDINGS Projects & Sustainability
Slide 17: Sustainability Targets Drive Long-Term Value
Sustainability Targets Drive Long-Term Value The first cement company in Türkiye to make a “Net Zero” commitment Operational efficiency Readiness to regulatory changes Alternative Fuel Usage 58.0% 27.9% 27.4% Superior financial performance 24.0% 17.0% 6.0% 2016 2020 2024 2025 1Q 2026 2030 Sustainabi
Slide 18: Sustainable Energy Projects · Solar & WHR Projects
Sustainable Energy Projects · Solar & WHR Projects Renewable Energy Usage Solar Projects • The Beypazarı Solar Power Plant (SPP) project 14% with an installed capacity of 115 MWp has been fully commissioned in April 2026. • It will generate 182,000 MWh of electricity per year. It will supply 70% of
Slide 19: Alternative Fuel Usage · Turkey vs OYAK Cement
Alternative Fuel Usage · Turkey vs OYAK Cement CAGR* +%19.8 27.9% 27.4% 25.2% 24.6% 22.5% 22.6% CAGR* +%14.2 17.4% 12.3% 12.0% 12.5% 13.0% 10.3% 4.5% 6.6% 0.6% 7.9% 7.8% 7.7% 8.0% 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2023 2023 2024TR 2024 2025TR 2025 2026 TR OÇF TR OÇF TR OÇF
Slide 20: Alternative Fuel Usage · EU Cement Industry vs OYAK Cement
Alternative Fuel Usage · EU Cement Industry vs OYAK Cement Alternative Fuel Usage Over an 8-Year Period 58% 30.5% Alternative Fuel Usage in the EU Cement Industry Over a 20-Year Period 21.5% 28% 27% 25% 25% 23% 23% 17% 12% 8% 7% 2026 Q1 2003 2024 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 200
Slide 21: Financial Results & Highlights
Financial Results & Highlights
Slide 22: Financial Results · Challenging Quarter
Financial Results · Challenging Quarter SALES REVENUE (m TL) EBITDA (m TL) NET INCOME (m TL) 17,687 26.6% 22.6% 30.6% 24.7% 24.0% 9.6% 20.7% 22.0% 8.2% 1.0% 15,301 15,637 13,551 -29% -92% -21% YoY YoY YoY 10,710 -32% 5,417 -33% -92% QoQ 3,602 3,454 3,863 QoQ 3,897 QoQ 2,571 3,161 1,304 1,280 103 1Q2
Slide 23: Net Working Capital · Sustainable Level With Highest Collateralization
Net Working Capital · Sustainable Level With Highest Collateralization 19% 16% 16% 17% 20% 20% NWC as a % of Sales Revenue (LTM) NWC (m TL) 10,327 9,993 9,791 8,706 9,030 9,226 9,363 8,095 7,584 7,315 8,052 6,139 7,821 8,509 9,234 8,988 9,866 9,893 -6,928 -7,572 -8,191 -8,739 -6,741 - -7,733 -4,868
Slide 24: Net Cash (Debt) Development · Solid Balance Sheet for Future Investments
Net Cash (Debt) Development · Solid Balance Sheet for Future Investments Net Cash (Debt) m TL Net Cash (Debt) / EBITDA (LTM) 0.68 -2,639 1,991 8,829 12,027 12,013 10,820 10,419 0.74 0.55 0.62 0.47 9,572 15,207 0.14 9,149 11,096 11,021 2021 6,634 2021 2022 2023 2024 2025 1Q25 1Q26 2,060 5,344 2021 2,
Slide 25: Free Cash Flow
Free Cash Flow m TL 2,571 -1,270 FCF/ EBITDA -118 1Q26 -6,977 -30% -4,813 FCF/ EBITDA* -1,945 -762 46% EBITDA NWC Change Tax Payments CAPEX Free Cash Flow m TL 3,602 FCF/ EBITDA 1Q25 -1,970 -2% -75 FCF/ EBITDA* -10,089 43% -1,620 -63 EBITDA NWC Change Tax Payments CAPEX Free Cash Flow * Without CAPE
Slide 26: Q&A
@ Q&A CIN\POR Ay GROUP HOLDINGS
Slide 27: Appendix
@ Appendix GROUP HOLDINGS
Slide 28: TCC Group Holdings (TCC) · Building a Green Future
TCC Group Holdings (TCC) · Building a Green Future TCC at a Glance TCC Global Operations 1,010 MWh Energy Storage Capacity • Founded on May 1, 1946. • Reorganized as TCC on January 1, 1951 Italy France Spain Australia US • Privatized in 1954 and management was taken over by the Koo family. 857k tons
Slide 29: Group's Global Footprint
Group’s Global Footprint Taiwan Cement Capacity Clinker Capacity China 77.0 m ton 65.8 m ton United Kingdom France Cement Capacity Clinker Capacity Netherlands 35.0 m ton 18.0 m ton Portugal Integrated Grinding Calcined Clay Ports Facility Facility Facility Romania 10 7 3 4 Paper & Türkiye RMX Aggre
Slide 30: TCC Group Holdings (TCC) · Ownership
TCC Group Holdings (TCC) · Ownership 29
Slide 31: Milestones · Step Towards Global Building Materials Company
Milestones · Step Towards Global Building Materials Company The first Turkish cement company to make the Merger of OYAK The largest Solar and "Net-Zero" Çimento, Denizli WHR investments Beypazarı SPP has been commitment Çimento and OYAK in Turkey commissioned at full Çimento Fabrikaları capacity as
Slide 32: OYAK Cement · Key Investment Highlights
OYAK Cement · Key Investment Highlights ✓ Market leader in Türkiye Operates in 3 countries, 7 regions in Türkiye with 24 m tons installed cement capacity & 12.6 m tons clinker capacity ✓ One of the leading white cement producer 1 m tons of white clinker capacity ✓ Wide product portfolio for building
Slide 33: OYAK Cement · Ratings & Indices
OYAK Cement · Ratings & Indices • TCC Group Holdings: • Long-Term Credit Rating BBB- / Stable (Fitch Ratings) • Long-Term Credit Rating BBB- / Stable (S&P Global Ratings) • OYAK Cement: JCR Eurasia Rating’s announcement; • Long-Term National Institution Credit Rating: AAA / Stable, • Long-Term Inter
Slide 34: Cement Product Portfolio
Ga Cement Product Portfolio CEMENT 1 CEMENTUM + CEM IAS 42,5R + CEM II/A-M |S-\) 42,5R, + CEM IVA-LLA2,5R + CEM I/A-M [P-LL) 42,5R + CEM I/A-M |S-LL) 42,5R dota GROUP HOLDING f POWERCEM NOVOCEM i DuRACEM i puracem+ + CEM 1/8 |S) 22,5N-SR + CEM I/B-M (S-¥) 42.5 + CEM 1I/C-M (P-LL) 32,5N + CEM I/B-M (
Slide 35: OYAK Concrete · The Brand Name of Big-Ticket Projects
OYAK Concrete · The Brand Name of Big-Ticket Projects OYAK Concrete, the main field of activity of which is production and sales of ready-mix concrete, also intended to produce the aggregate, which has outpaced the cement in some plants and taken the first place among the concrete production cost it
Slide 36: Awards
Awards ÇEİS Those Who Add European Risk TIDE Awards 2025 OYAK Cement in 7 Value to OHS Awards Management Awards WisdomTree Indexes 2025 2025 International Legal 500 GC Powerlist: Certificate ÇEİS Those Who Add Investment Portugal Team 2025 Madway 2025 Value to OHS Awards Awards 2025 2025 Capital 500
Slide 37: Income Statement
Income Statement * EBITDA : Operating profit / (loss) + Amortization and depreciation 36 IAS-29 applied financials
Slide 38: Balance Sheet
Balance Sheet IAS-29 applied financials 37
Slide 39: Cash Flow
Cash Flow IAS-29 applied financials 38
Slide 40: Financial Results · Quarterly Revenue and EBITDA Development
Financial Results · Quarterly Revenue and EBITDA Development Quarterly Revenue (m TL) L12M* Revenue (m TL) 51,496 51,867 48,436 44,546 41,509 39,289 36,102 32,012 28,257 15,049 14,095 11,159 11,035 12,233 9,196 10,118 10,490 7,898 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 1Q24 2Q24 3Q24 4Q24 1Q25
Slide 41: Disclaimer
Disclaimer This presentation (Presentation) has been prepared by OYAK Çimento Fabrikaları A.Ş. for the sole purpose of providing information relating to OYAK Çimento Fabrikaları A.Ş. This Presentation is based on public information and data provided by OYAK Çimento Fabrikaları A.Ş. management and ba
Slide 42: Contact Information
Contact Information Ali Onur AYGÜN Country Director – Financial Affairs Sena ATAY Investor Relations Manager OYAK Cement Contact Information : yatirimciiliskileri@oyakcimento.com investor.relations@oyakcement.com +90 312 220 01 12
Slide 43: Thank you!
Thank you! 謝謝 ! Dank je! Obrigado/Obrigada! Teşekkürler! Merci! Mulțumesc!
Slide 44: fbTcc
fbTcc GROUP HOLDINGS
OYAK Çimento Fabrikaları A.Ş. — Q1 2026 Earnings Presentation on 6ix