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

Turk Traktor Ve Ziraat Makineleri A.s — H1 2024 Earnings Presentation

39 slides from Turk Traktor Ve Ziraat Makineleri A.s's earnings presentation, Oct 4, 2024

Slide 1: Investor Presentation
GAKos AP 2 e a) = 4 _ ZS ‘jas 4 wy INVESTOR PRESENTATION 04.10.2024 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 2,920 employees** 2,170 shop-floor employee | 54,000 units 750 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 ____ Sie _Tractor Manufacturing (unit) @ Total Tractor Sales (unit mlmport Tractor mDomestic Tractor +m Export 48,560 51,423 44,619 48,781 Me, 51,865 38,215 _ 5 | | i | ; a z a 2 7 2021 2022 2023 2023/9 2024/9 2021 2022 2023 2023/9 2024/9 ss | —__vX—}>__——_\_w_w_—os @® Tota
Slide 8: Value Created for Our Shareholders
VALUE CREATED FOR OUR SHAREHOLDERS ‘ @ Foreign Ownership in Free Float (%) &4 Stock Chart ih roe SPs Soh PLL I ISL ELOLES yee s # Os se ss Ss & —TirkTraktér —BIST- 100 —BIST-30 —BIST - MESY FEI P LEE I LIS. PP SOL 2 Earnings per Share 2023/1H 2024/1H @AKoc TiirkTraktér7©.... CNH
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 * 36.7%* market share + The largest dealer network covering all regions « Wide customer portfolio * Targeting professional farmers + 2" brand in the market * 10.7%* market share ¢ Weare strengthening our position in
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: Service 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 v Turkey’s Turkey’s Share in 99 Share nd 4. T% agricultural 9 7 agricultural 1 ‘ GDP 0 the total 0 economy in (as of 2028) economy in (as of 2023) (sof 202024) | employment (as of 202024) the World Europe Agricultural Production 2023-2024 10 (million ton) 98% !norease 2023
Slide 18: Agricultural Support Programs in Turkey
AGRICULTURAL SUPPORT PROGRAMS IN TURKEY , Agricultural Support Payments ¢eitiont) 44% increase 63.4 39.6 23.0 - se i i 91.6 _ Agricultural Investment Supports ition.) Investment Supports (ition 11) fd Ae increase 100.6 25.1 124 54 54 — 2019 2020 2021 2022 2023 + Agricultural support payments include
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% 49.2% eae en Ziraat Bank loan usage was 30.3% as of June 2024. 4 14.6% 13.6% 12.6% 11.2% 19,0% oe ee 4 Teessee ees eter + wee 9.0% 10. . 4 . = il a! + 73
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) Turkey is the world’s 4" largest tractor market according to total tractor sales in 2023. In 2024, the world tractor market's size is expected to be 1.7 million. 6m 2021 | 2022 | 2023 Important Export 620 560 510 2024 Forecast vs. 2023 Mark
Slide 27: Export
EXPORT y nha Sia mmee v= ; “&-Tractor Export from Turkey* (unit) “® TiirkTraktor’s Export (unit) Sure: Tarmakbi Total = TiirkTraktor aki decrease 22,472 20,511 20,148 17, 003 -21 ie decrease 7,095 16,176 16,016 6,176 6,016 15,153 12, 589 > 2,589 12,605 9,980 it | UJ 2021 2022 2023 «=St«t«CBSC(‘é 202
Slide 28: Production
PRODUCTION F GAKog TiirkTraktér7.... CNH
Slide 29: Tractor Production in Turkey & TürkTraktör
TRACTOR PRODUCTION IN TURKEY & TURKTRAKTOR 2 Oe Tractor Production of Turkey* (unit) Oke TiirkTraktér’s Production (unit) ‘Source: Tarmakbir =Total wm TiirkTraktor 15% i aS 82,343 79,478 ad 48,560 dee decrease A... 560 44, a 7 * ' & 50,843 | | | 23481 Ve 33,28 i i, i | 2021 2022 2023 2023/8 2024/8 2
Slide 30: Market Position by Brand
30 Market Market 2023 2024/8 Position Position New Holland 27,124 1. 15,400 1. Case IH 7,435 2. 4,506 2.
Slide 31: Sales of TürkTraktör
SALES OF TURKTRAKTOR 4 6% Tractor Sales of TiirkTraktér (unit > Locally produced tractor sales increased by 2% = = mlmport mLocal = Export 34,984 in 2024/6. Import tractor sales decreased by 16% Gee "an in 2024/6. In 2024/6 export tractor sales decreased by 17% comparing to 2023/6. 2022 2023 2023/6
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 2023/1H 26,748 10,086 36,834 8,697 23.6% 6,726 18.3% 6,537 17.7% 5,118 13.9% 7,402 20.1% TiirkTraktir7©... INCOME STATEMENT
Slide 34: Financial Performance
23.6% GAKog FINANCIAL PERFORMANCE 2023/1H 2024/1H Change Gross Profit Margin Operating Profit Margin Net Profit Margin EBITDA Margin ™ Gross Profit Margin 23.3% 13.9% © Operating Profit Margin = Net Profit Margin @ EBITDA Margin 2023/1H 2024/1H TiirkTraktir7©.... 34 CNH
Slide 35: Gross Profit to EBITDA Flow
Gross Profit OPEX Operatig Income cin Other& Profit Before Tax Tax Expense Financial Expense & Monetary Loss/Gain TiirkTraktér7... 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 and interest accrual
37 *Interest accrual are included.
Slide 38: 2024 Expectations
2024 EXPECTATIONS y Tractor Market > Turkish Tractor Industry Volume: 58,000 — 64,000 units > Local Tractor Sales*/**: 30,000 — 33,000 units hfe ee > Tractor Exports: 13,500 — 15,000 units TiirkTraktOr > capex. 90-100 mittions *Sales to the dealers included imported tractors *Due to the slowdown in
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. — H1 2024 Earnings Presentation on 6ix

Turk Traktor Ve Ziraat Makineleri A.s — H1 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: Service 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: Export

Slide 28: Production

Slide 29: Tractor Production in Turkey & TürkTraktör

Slide 30: Market Position by Brand

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 and interest accrual

Slide 38: 2024 Expectations

Slide 39: Investor Relations Contact