Koç Holding at a Glance
Strategic Overview
Business Update
Performance Highlights
Our ESG Journey
2
Investor Presentation
Koç Holding at a Glance
Strategic Overview
Business Update
Performance Highlights
Our ESG Journey
3
Investor Presentation
Turkey's Leading Investment Holding Company
Turkey's largest industrial and services group
Sustainability oriented business model focusing on profitable growth
Leading positions with clear competitive advantages in sectors with long-term growth potential such as energy, automotive, consumer durables & finance
~7% ~8% >TL3.7bn
Combined Revenues/
GDP
Total Exports/
Turkey's Exports
2025 Combined
Investments
~17%Koç Group's Mcap/
BIST100 Index1
Fortune Global 500Only company from
Turkey2
~$16.1bnCombined investments in
the last five years2
Data as of 2025YE and adjusted for inflation accounting, unless otherwise stated
1 As of December 31, 2025
2 For the period 12M21-12M25
4
Investor Presentation
Well Positioned to Benefit from Turkey's Growth Potential
Largest industrial& services group
3 of the Top 10
Industrial Enterprises1
1
2
7
¹ Istanbul Chamber of Industry, as per 2025 performance
² Turkish Exporters' Assembly, as per 2025 performance
³ Turkish Patent and Trademark Office, company data
Largest exporterswithin portfolio
3 of the Top 10
Goods Exporters2
1
3
9
Largest intellectual property rights portfolio3
>8,500 trademarks
>2,950 patent families
>5,900 patents
>900 industrial design registrations
>6,500 Internet domain
names
Largest distribution network~740 bank branches
~10,000 dealers &
after-sales service points
CRM data to analyze customer behavior to track early warning indicators and capitalize on various trends
5
Investor Presentation
A True Global Player
Exports to
>155countries
>130Production facilities
and sales & marketing companies abroad
46%International & FX linked revenues /
Total revenues1
>36KEmployees abroad2
Data as of 2025YE, unless otherwise stated
¹ Excluding FX linked revenues of Tüpraş refinery, International revenues/Total revenues = ~31% as of 12M25
² As of 2025YE, total number of employees was around 120K
6
Investor Presentation
Stable and Supportive Shareholding Structure
Family Danışmanlık143.7%
Vehbi Koç Foundation 7.3%
Koç Family2
19.7%
Free Float326.9%
Koç Pension Fund
2.3%
4/11
Independent
Board Members
3/11
Women on the Board
Koç Family has its own internal governance and investment vehicle which provides stability in shareholder structure (Family Danışmanlık) Majority of Koç Family's business ventures are via Koç Group
Koç Family mainly assumes board-level responsibility
¹ As of December 31, 2025, total voting rights including A (2 voting rights) and B (1 voting right) shares is 55.62%. A shares do not have any other privileges
² Includes personal holdings of 18.3% stake and 1.4% stake of RMK ve Mahdumları
³ Koç Holding carried out its first Share Buyback Program between July 2021 - July 2024. A total of 890K shares (~0.035% of capital) was bought back during the program
7
Investor Presentation
Koç Holding at a Glance
Strategic Overview
Business Update
Performance Highlights
Our ESG Journey
8
Investor Presentation
DIY Retail
Tourism Duty Free Marinas
Motor Prod.
IT
Healthcare
Fintech
Procurement
Main Companies
Operations in Lucrative Businesses with Strategic Alliances
Energy
Automotive
Consumer
Durables
Finance
Other
in air conditioners
International Alliances
Listed companies include Ford Otosan, Tofaş, TürkTraktör, Otokar in automotive, Arçelik in consumer durables, Tüpraş and Aygaz in energy, Yapı Kredi in finance and Marmaris Altınyunus in tourism under «other» segment.
9
Investor Presentation
Strong Domestic Positioning of Leading Brands
Energy
Automotive
Consumer Durables
Finance
Other
Largest refining capacity
in Turkey
Total Automotive
1st
White Goods
1st
Asset Size
among
private banks
4th
DIY
Retailing
1st
LPG
Distribution
1st
Commercial Vehicles
1st
Air Conditioners
1st
Consumer Finance
2nd
Marinas 1st
Petroleum Product Distribution
2nd
1
Passenger Cars
1st
Tractors 1st
Buses
Auto. Retailing
1st
Car Rental and Leasing
Ranking as of 2025YE, unless otherwise stated
¹ As of December 31,2025
10
Investor Presentation
Strategic Overview
Balanced Portfolio Structure Ensures Long-Term Value Creation…
Defensive Assets Growth Assets
Aygaz
Ford Otosan Otokar Tofaş
Tüpraş
TürkTraktör
Arçelik Divan Düzey Entek Koçfinans KoçSistem
Marinas Otokoç Opet Setur Yapı Kredi
High dividend
>60% payout
High growth
>1.5x the GDP growth
Listed company Energy
AutomotiveConsumer Durables
Finance
Other
11
Investor Presentation
…Sectoral Diversification Delivers Resilience to Alleviate Cyclicality…
NAV Breakdown by Sector1 Key Segments
Auto
(PC & CV
Manufacturing)
23%
Auto
(Other)
13%
Refining
18%
Finance
22%
Oil & Gas
Distribution Consumer 4%
Other assets Durables & Cash 4%
16%
Automotive
PC & CV Manufacturing
Automotive
Other
Key Strengths
Domestic growth potential
Secured export contracts
Strong positioning in JV universe
Leading positions & brand names
Strong R&D
Refining
Demand insensitive to GDP
Turkey's diesel deficit
FX and oil-price-linked pricing mechanism
Regional crack spreads
i.e. commodity prices
Crude differentials
Wide distribution networks
Key Risks & Sensitivities
Demand in Turkey and Europe
Main drivers: GDP & interest rates
Agricultural sector trends
Demand by the defense industry
Oil & Gas Distribution
Consumer Durables
Low sensitivity to GDP
Growing auto gas market
Geographic diversification
Cost-efficient manufacturing
Domestic credit & interest rate risk
Regulation
Growth potential
Leading position in digital
Finance
Dynamic investment approach
Oil & LPG prices
Regulations
Limited growth in cylinder market
Turkey and global demand
Main driver: GDP
Other
Leading positions
Turnaround potential
Inorganic growth opportunities
Macro risks
¹ NAV based on company calculation. ~90% of NAV comes from listed assets (31 December 2025 Mcap of each, weighted with effective ownership).
12
Investor Presentation
…Geographical Diversification Supports Sustainable Revenue Generation
International Revenues / Total Combined Revenues Regional Breakdown of International Combined Revenues2
29% 30% 31%
2023 2024 2025
46%
US$0.8bn
2.5%
US$24.8bn
73.4%
US$6.5bn
19.1%
US$1.2bn
3.7%
US$0.1bn
0.4%
US$0.3bn
0.9%
including FX linked
revenues of Tüpraş
Share of international revenues in total revenues of the largest contributors1
79%
Ford Otosan
11%
Tofaş
68%
Arçelik
1 Data as of 12M25
2 Data as of 2025YE
13
Investor Presentation
Business Model Ensures Sustainability of Dividend Income
Dividend Income 1
TL Billion
Dividend
2023 2024 2025 2026 Q1
Dividend Payments1
TL Billion
6% | 28% | 1021% | 79% |
2.2% | 3.7% | 4.5% | 3.6% |
Dividend
Tüpraş (inc. EYAŞ) | 10.3 | 16.5 | 15.3 | 6.6 | Payout | |
38.5 | Ford Otosan | 6.0 | 7.8 | 10.5 | 4.9 |
6.0
24.2
Dividend
33.4 | Tofaş | 1.1 | 3.8 | 2.3 | 3.8 | |||
Arçelik | 0.7 | - | - | - | ||||
Aygaz | 0.1 | 0.6 | 1.1 | 1.1 | ||||
TürkTraktör | 0.8 | 3.4 | 1.8 | - | ||||
Otokar | - | 0.3 | - | - | ||||
Yapı Kredi Bank / KFS | 4.9 | 5.5 | - | - | ||||
Other Companies | 0.3 | 0.8 | 2.4 | 2.3 | ||||
Total Dividend Income | 24.2 | 38.5 | 33.4 | 18.8 | ||||
2024 | 2025 | |||||||
Yield
4.4
20.3
17.4 17.3
2022 2023
2023 2024 2025 2026 Q1
Majority of dividend income from portfolio companies with FX or FX linked revenues
Koç Holding distributed TL 17.3 billion in dividends for the year 2025 on March 25, 2026
In Q1 2026, dividend income of Koç Holding through listed subsidiaries amounted to TL16.4 billion
Flexibility in dividend payments
Dividend payment decision based on
dividend income,
investment opportunities, and
net cash position.
¹ Dividends in nominal terms (not adjusted for inflation accounting), dividend payment excluding usufruct shareholders
.
14
Investor Presentation
Solid Liquidity
As of 31 December 2024:
Net Cash Bridge
Solo, TL Million
As of 31 December 2025:
= USD 911mn
+
-
33,406
= USD 815mn
Net cash
as of 2024YE
- 17,505
USD 1.68bn
Gross cash
as of 2024YE
1
1
32,103
34,917
- 13,086
USD 0.75bn
Total debt -- 1 Eurobond 3
Net cash
as of 2025YE
2024YE
Net Cash
Dividend Income
Dividend Payment
Other 2
2025YE
Net Cash
¹ USD net cash amounts are converted to TL in the Net Cash Bridge, using the USDTRY currency rates of 35.2233 for 31 December 2024 and 42.8623 for 31 December 2025. Net cash figures includes USD 25mn of Ford Otosan's Eurobond.
² Other includes mainly management fees, OPEX, currency conversion impacts, net financial income/expense, capital injunction to subsidiaries and 7.1% Arçelik shares purchase. 3 In March 2025, paid down the USD750 mn Eurobond Dividend announcements after 31 December 2025: Tüpraş (KH Share: TL1,038 mn, to be received in 1Q26 upon AGM approval)
15
Investor Presentation
Key Metrics
Fundamentals Remain Intact On The Back Of Prudent Management
Strong Cash PositionUSD 815mn
Solo
Net Cash
Solid Liquidity1.2x
Current Ratio
on Combined Basis1
FX Position+USD 526mn
Solo
long FX Position
TL 31%
Hard Currency
69%
Sustainable Leverage1.2x
Net Financial Debt / EBITDA on Combined Basis1
- USD 45mn
Consolidated short FX position after natural hedge2
+ USD 128mn
Consolidated long FX position after natural hedge weighted by effective ownership
To further enhance liquidity:A 5-year club loan for USD 600mn is secured in mid-October 2025 (to be utilised within 6 months)
Annual interest rate is SOFR + 1.95%
2.5 years grace period, and 6 equal and consecutive six-monthly repayment installments thereafter
1 Excluding finance segment
2 Net FX position at -45 mn US$ (including US$ 1.6 bn of loans designating as hedging instruments and US$ 1.4 bn of natural hedge due to FX linked pricing of Tüpraş and Aygaz inventory)
16
Investor Presentation
Credit Rating
BBB BBB-
BB+
S S S S P
S
N S N N S
S
Investment Grade Threshold
Standard & Poors (S&P) BB+
Two notches above sovereign
S S S
BB BB-
B+
S N N N S
N S N N S
S S S S S
S N N
P
P S S
N S P S
S S S S S N
B
S S
Apr'13
Feb'14 Apr'14 Apr'15 May'15 Nov'15 Dec'15 Mar'16 May'16 Jul'16 Nov'16 Jan'17 Feb'17 May'17 Nov'17 May'18 Aug'18 Mar'19 Mar'20 Jan'21 Mar'21 Dec'21 Apr'22 Sep'22 Oct'22 Apr'23 Jun'23 Oct'23 Nov'23 May'24 Nov'24 April'25 May'25
S N N S P
Koç Holding Turkey
P: Positive, S: Stable, N: Negative
17
Investor Presentation
Investing with a Focus on Scale and Returns
Investments (Combined, TL bn) Growth Opportunities
•
155.3
157.4
~USD 16.1 bn
over the last 5 years
Existing
Businesses
•
108.7
•
Energy - Domestic & int'l growth opportunities
including renewables and LPG
Automotive - New manufacturing and R&D projects for export markets with JV partners
Consumer Durables - Value monetization created through optimization and investments
Finance - Growth opportunities in Turkey
2023
2024
2025
New
Businesses
Pursue opportunities in both domestic and
international markets
Group companies finance investments mainly via their own
balance sheets
18
Investor Presentation
Investments in healthcare sector
Koç Medical was established to offer innovative solutions for healthcare needs, make healthcare accessible to everyone, and become a regional healthcare technology power
The Company carries out its activities in two different product groups: disposable medical consumables and medical devices
Koç Medical B.V.https://kocmedical.com/
Koç Holding acquired 65% of Stembio for EUR16 mn in 2024
Established in 2020, StemBio is a biotechnology company which operates in the field of cord blood and tissue banking and works on new treatment methods
StemBio introduced a number of firsts in Turkey stem cell-derived exosome production, limbal stem cell and tissue production, domestic cell growth and medium production
Stembiohttps://stemcord.com.tr/tr
Kemer Medical Center (KMC)
https://www.anatoliahospital.com/en
Koç Holding acquired 80% of KMC for EUR 83 mn in 2024
KMC operates in the private hospital sector under the "Anatolia Hospital" brand in Antalya with seven hospitals
Koç Holding acquired 70% of InTumo Therapeutics, Inc. for
USD35 mn in 2024
InTumo is a Delaware based healthcare research company
InTumo Therapeutics
19
Investor Presentation
Agenda
Koç Holding at a Glance
Strategic Overview
Business Update
Performance Highlights
Our ESG Journey
20
Investor Presentation
Investor Presentation
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Disclaimer
Koç Holding AS published this content on April 08, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 08, 2026 at 13:22 UTC.
