TURKCELL

GROUP
INVESTOR PRESENTATION
APRIL 2023
AGENDA
Overview

Q4 & FY 2022 Highlights

Q4 & FY 2022 Financials

Business Review

Sustainability

Appendix
Turkcell Group

OVERVIEW
 Turkcell Group
At a Glance
#1 DIGITAL OPERATOR IN TURKEY DIVERSIFIED STRATEGIC FOCUS AREAS

• Digital Services & Solutions: 5.1 Mn paid user

• Market leader in mobile: 37.5 Mn
• Best challenger in fixed broadband: 2.9 Mn
• Digital Business Services: #1 ICT Solutions Provider
• >99% coverage, 9K towers
• 5.4 Mn fiber homepass 7.7 Mn Paycell user
• Techfin:
3.4 Bn TL consumer fin. loan book in Financell

STRONG SUBSCRIBER BASE STOCK INFORMATION

Turkcell Turkey 41.7 • Listed on NYSE & Borsa Istanbul

lifecell (Ukraine) 10.2 • 54% free float, ~73% foreign investor share

BeST (Belarus) 1.5 • $3.7 Bn market cap1

KKTCell (TRNC) 0.6 • Member of BIST Sustainability 25 Index

(Million)

Investor Presentation | 4
1 As of March 29, 2023
Strong Demographics
Supportive Environment for Growth
Young & tech-savvy population in Turkey
• Half of the population is under age 33.51
• Well-known tourist destination, with seasonal tourist inflows and long-term visitors
Rising social media usage supporting the mobile data usage
• In terms of active users: 5th country in Instagram , 9th country in TikTok, 10th country in YouTube in the world2
• Active social media users rose 15% in 2022: 57 Mn YouTube, 49 Mn Instagram, 34 Mn Facebook, 30 Mn TikTok, 16 Mn Twitter users2
• Average mobile data usage 3.2x since 20183
• High smartphone penetration in the market: 71% 4.5G compatible smartphone penetration
Home entertainment and remote working leads to increased demand for high-speed household internet connections
• Significantly lower fiber penetration; fiber share in total fixed broadband is 28% in Turkey; well below the OECD average of 36%7
• Average fixed broadband speeds (30 Mbps) lag behind global peers (110 Mbps)3
• Average fixed broadband data usage 243 GB, 2.6x since 2018 4

Digital transformation trend of corporates continues

• The global cloud computing market was valued at USD 484 bn in 2022 and is expected to expand at a CAGR of 14.1% from 2023 to 2030 5
• Further growth opportunity in data with the upcoming 5G launch

Digital payment ecosystem is growing

• Young, unbanked and ready-to-digitize market, 18 Mn unbanked population & 60%+ of payments done with cash6
• 24% e-commerce market growth in USD (CAGR FY20-26E)5
Investor Presentation | 5
1 TURKSTAT, 2 wearesocial, 3 Speedtest Global Index, 4 ICTA, 5 Grand View Research, 6 CBRT, 7 OECD Broadband Portal
Key Strenghts
Well Positioned
WELL ESTABLISHED NETWORK

>99% 68.3 Mbps 1,600 Mbps 10 Gbps 5.4 mn 60K km

MOBILE

FIXED
Network Leader in 81 cities Fastest network speed Fiber to the home Fiber homepass Fiber in 81 provinces
coverage in download speed The Only Operator in Turkey The First in Europe
The First Operator in Europe
Among 3 Operator in the world

RICH VALUE PROPOSITION BRAND RECOGNITION & CUSTOMER CENTRICITY

#1 in Net Promoter Score (NPS)*

DIGITAL SERVICES DIGITAL BUSINESS SERVICES TECHFIN SERVICES

NPS OVER COMPETITON

(CONSUMER, POINTS)

WIDE SALES CHANNEL

+20 +17 22
PHYSICAL CHANNELS 24/7 DIGITAL CHANNELS AFTER SALES SERVICES

5.3K 23.8 mn Best-in class Customer Centric Culture

Stores as of 2022 Digital Operator’s 2
5 Transformation Program
3-month Active Users
Comp. 1 Comp. 2 TURKCELL initiated in 2019

*Futurebright,
Investor Presentation | 6
Q4 2022
Diversified Business Model
Based on Digital Transformation

• Main growth and profitability driver • Driven by digitalization trend

• Necessity; less volatile • Growth focus on Digital OTT Services
• International revenue flow • Data localisation

62% 4% 51% 71%

Revenue Share in Standalone Digital OTT
Growth TELECOM DIGITAL Consolidated
Revenues
Revenue Services Revenue
(YoY) Growth (YoY) Growth (YoY)
SERVICES SERVICES

DIGITAL BUSINESS TECHFIN

• Digital transformation trend SOLUTIONS SERVICES • Non-cyclical and disruptive business
• Remote working & education • Tech-savy & high unbanked population
• Market leader in IT Services • Wide range of services

4%
Paycell Financell

8% 87% 94% 64%

Share in Revenue Share in
Consolidated Growth Consolidated Revenue Revenue
Revenues (YoY) Revenues Growth Growth
(YoY) (YoY)

Our business model inherits a diversified approach that serves to minimize contraction risk
under different economic cycles and assures a sustainable and strong growth
Investor Presentation | 7
Yearly growth and revenue shares are for Q4 2022.
Turkcell Group

Q4 & FY22 HIGHLIGHTS

 Turkcell Group
2022 Highlights

REVENUE 50.0% YoY 2.3 Mn TOTAL NET ADD

53.9 Bn TL

EBITDA 46.5% YoY 887 K NEW HOMEPASS

22.0 Bn TL 5.4 Mn Total Homepass

NET INCOME 11.1 Bn TL 1.7 Bn TL FREE CASH FLOW

Excluding tax impact* 6.4 Bn TL 57% YoY

6 Mn total net add Accelerating topline growth Increasing contribution

in the last 3 years with pricing focus from Strategic Focus Areas

* Fixed Asset Revaluation Net Impact

Financial figures are based on TFRS. Kindly check the Notice page for further details.
Operational Highlights
Mobile
SUBSCRIBER TREND MOBILE ARPU (excl. M2M) MOBILE CHURN
MILLION BLENDED, TL MONTHLY AVG.
ARPU Growth
(YoY)
25.6 Net Add 55.6%
48.5% 2.7%
24.1 24.5 25.0 599 K
100 60.00%
50.00% 2.5%
90 32.9%
POSTPAID

23.7 QoQ 80 92.6 40.00%

70 19.8% 85.4 30.00% 1.9%
60 20.00%
Net Add 50 69.5 10.00%
1.9 Mn 40 59.8 0.00%
-10.00%
YoY 30 -20.00%
20 -30.00%
Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 22 Q2 22 Q3 22 Q4 22 Q4 21 Q3 22 Q4 22

MOBILE NET ADD* MOBILE DATA KPIs

THOUSAND AVG. GB/USER
12.6 Turkcell Türk Telekom Vodafone
Net Loss Non 4.5G Users 4.5G Users Total Users
12.0 12.0 12.1 12.0 621 K
PREPAID

QoQ 2,208
1,870 16.9 15.7 Smartphone
1,472 14.7 13.3 Penetration
Net Loss
10 K 844
1,110 87%
712 699 5.5 6.0 ↑1.3pp YoY
YoY 241 380

Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 2020 2021 2022 Q4 21 Q4 22

*Source: ICTA & Company announcements

 Operational Highlights
Fixed Broadband
SUBSCRIBER TREND
THOUSAND
2,122

xDSL & CABLE

2,064 Net Add Net Add Net Add
1,996 11 K 1,282
1,941 58 K 1,186 1,231 51 K
1,888 QoQ
1,082 1,126
FIBER

QoQ 810 QoQ

IPTV
807
789 785 795
Net Add Net Loss Net Add
234 K 14 K 200 K
YoY YoY YoY

Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22

RESIDENTIAL FIBER ARPU CHURN FIBER PENETRATION KPIs (Q4 22)

TL MONTHLY AVG.
ARPU Growth
33.3% 1.6%
(YoY) 1.5% New homepass +176 K
120
115 26.5% 30.0% 1.3%
110 23.4% Fixed
105
100
21.0% 110.6 25.0%
95 20.0% Fiber Take-up rate* 40.9%
90 100.6 1.2%
85 94.5 15.0% 1.1% 1.1%
80 89.9 10.0% IPTV penetration
75 67.0%
70 5.0% (in residential fiber)
Q1 22 Q2 22 Q3 22 Q4 22 Q4 21 Q3 22 Q4 22

*Excluding corporate
Note: Cable subscribers of 44 K at the end of Q4 2022 are included in 795 K.
 Strategic Focus Areas
Digitalization Momentum Continues
Digital Services & Solutions Digital Business Services
STAND-ALONE REVENUE REVENUE
MILLION TL MILLION TL
51%
YoY Growth1
678
562
1,339
449
481 Digital OTT Services
71% 1,033 87%
281 405 YoY Growth
Digital Telco Services
718 YoY Growth
168 157 197
Q4 21 Q3 22 Q4 22 Q4 21 Q3 22 Q4 22

• 1,140+ new contracts as of Q4 22

Paid subscriber • 2.8 Bn TL backlog3 from system integration projects: ↑100% YoY
• IPTV: 1.3 Mn, ↑18% YoY
Stand-alone • DC revenues: ↑206% YoY & Cloud services revenues: ↑115% YoY
• OTT TV: 1.0 Mn, ↑19% YoY
Paid User2
5.1 Mn Paid subscriber 352
510
↑28% YoY
• 1.8 Mn, ↑38% YoY Hardware revenues 286 92%
682 829
432 YoY Growth
Service revenues
Q4 21 Q3 22 Q4 22
1 Voicemail revenues were impacted negatively due to ICTA's decision to amend the condition of use as of December 1, 2021. Excluding this impact, growth would have been 69% YoY.
2 including IPTV, OTT TV, fizy, lifebox, Game+ 3 Backlog refers to the value of contracted revenue from system integration projects that is yet to be recognized until the end of the contract term.
 Strategic Focus Areas: Techfin Business
Strong Momentum Driven by Pay Later
FINANCIAL HIGHLIGHTS
MILLION TL
Transaction Growth3
46% 45% 43%
45% PAY LATER
260
270 REVENUE
• Transaction volume¹: 11.8 Bn TL, 2x YoY 1.1 Bn TL (non-group) 2x
210 244 35% 93.6%
160 YoY
• 3-month active users: 7.7 Mn, ↑17% YoY
PAYCELL CARD
110
60
140
109 117
25%
• Merchants2: 51 K+, ↑47% YoY 2.8 Bn TL 2x
64 EBITDA
10 15% • POS solutions: 16 K Android POS, 3x YoY
81.5%
Q4 21
Revenue
Q3 22
EBITDA
Q4 22
EBITDA Margin
YoY
• NYSE & Nasdaq stock trading available via Paycell
POS SOLUTIONS
4.4 Bn TL 4x

68% 48% 51% REVENUE

64.4%
313
0%
YoY • Market share4: 21% below 5 K TL loans LOAN PORTFOLIO 3.4 Bn TL
255 -200%
190 • Cost of Risk: 1.0%
161 -400%
129 123
10.0
EBITDA
-600% 24.8% • Customers with Ready Credit Limit: 13 Mn ACTIVE CUSTOMERS 1.3 Mn
Q4 21 Q3 22 Q4 22 YoY

Revenue EBITDA EBITDA Margin

¹ Includes transaction volumes over Pay Later, Paycell Card, bill payments, POS solutions and money transfers through IBAN, both group and non-group for Q4 22.
2 Points where all Paycell services accepted. 3 Growth figures indicate Q4 22 vs Q4 21 4 As of October 2022
 Turkcell International
Subsidiaries at a Glance

FINANCIAL HIGHLIGHTS STAND-ALONE REVENUES

MILLION TL MILLION (in their own currency)

49% 52% 51%

50%

LIFECELL
• 8.3% YoY revenue growth
2,607
1,813 30% REVENUE 2,406 2,371 • Effective cost mgmt: 57.8% EBITDA Margin
1,635
10%
40.9% • 8.5Mn 3-month active subscribers
YoY 75% • 4G user data usage: 15GB/month, ↑13% YoY

1,286 -10%
-30%
923 15%

LIFE :)
846 -50% 38 39 • 9.0% YoY revenue growth
36 • 32.0% EBITDA Margin
628 -70% EBITDA • 4G user data usage: 18GB/month, ↑14% YoY

-90%
46.9%
YoY
10 -110%
Q4 21 Q3 22 Q4 22
KKTCELL
8%
7%
• 64.0% YoY revenue growth
• 84.7% YoY EBITDA growth
Revenue EBITDA EBITDA Margin 125 148
90 • 44.1% EBITDA Margin
• 0.6Mn subscribers
% in Turkcell
International* Q4 21 Q3 22 Q4 22

*The remaining 3% comprises other international operations and intra-company eliminations. Ukraine, Belarus and TRNC local currency figures are based on stand-alone financials.
2 Major Earthquakes hit Türkiye
Affected 11 Cities with 5 Damaged the Most

AFFECTED CITIES
Population Share

~14 Mn 16%

State of Emergency (SOE) Region

Second quake 7.6M Share in base

MALATYA ELAZIĞ
First quake 7.7M
K.MARAS ADIYAMAN
DIYARBAKIR 16%
ADANA Mobile
OSMANİYE G.ANTEP Ş.URFA
KİLİS
Several aftershocks 6M+ 10%
HATAY Fixed BB

10%
IPTV
 Earthquake Impact on Turkcell
Current Status & Actions
ACTIVE SITE RATE
• Network impact is limited with the affected area
• First day: Loss of connection in 49% sites out of 3,300 99%
• Currently: 99% of the sites are providing service,
1 tower & ~150 base stations destroyed 71%
Network
• ~250 mobile base stations & 1.4 K electric generators are deployed to the area
51%
• Repairs are underway for fiber network (less than 100 km impacted)

Subscribers
• No invoice will be issued for a month in the SOE region
• Additional benefits are provided to affected prepaid subscribers for a month INITIAL IMPACT ASSESSMENT*
• Additional benefits for healthcare personnel & emergency teams
Sales Channel REVENUE ~1.5 Bn TL
• 13% of our exclusive stores is in the SOE region, 68% of them are active
Operations • All services are available through digital channels
Personnel, Aid & Donations OPEX ~400 Mn TL
• 4.5 K employees in the region - lost 21 colleagues
• 1.2 K+ network employees is actively at the region for maintenance
• A donation commitment of up to 3.5 Bn TL, subject to AGM approval CAPEX ~900 Mn TL
Note: Please note that, this page contains forward-looking statements based on our initial impact assessment of the earthquake. Factors such as changes in the state of emergency measures and potential aftershocks, as well as the risk
factors disclosed in our Annual Report on Form 20-F for 2021 filed with U.S. Securities and Exchange Commission, could cause actual impacts to differ materially from our expectations. Please refer to "Notice" for further information
regarding forward-looking statements in this presentation. Additionally, impact figures are based on TFRS, and do not include the effects of a likely adoption of inflationary accounting in accordance with IAS 29.
2023 Guidance

REVENUE GROWTH 55-57%

EBITDA ~34 Bn TL

OP. CAPEX/SALES* ~22%

* Excluding license fees

Note: Please note that, this page contains forward-looking statements based on our initial impact assessment of the earthquake. Factors such as changes in the state of emergency measures and potential
aftershocks, as well as the risk factors disclosed in our Annual Report on Form 20-F for 2021 filed with U.S. Securities and Exchange Commission, could cause actual impacts to differ materially from our
expectations. Please refer to "Notice" for further information regarding forward-looking statements in this presentation. Additionally, 2023 guidance figures are based on TFRS, and do not include the effects
of a likely adoption of inflationary accounting in accordance with IAS 29.
 Turkcell Group

2022
FINANCIAL REVIEW

Financial figures are based on TFRS. Kindly check the Notice page for further details.
Turkcell Group
Financial Summary
Accelerated Growth Sustained EBITDA Generation Below EBITDA Items
• Focused on sequental price adjustments • Robust operational performance • Strong operational profitability
• Continued subscriber growth • Accelerated ARPU growth with a dedicated • Positive impact from fixed asset revaluation
• Supportive performance of strategic focus pricing strategy
areas, especially techfin and digital business • Cost management focus
services
REVENUE GROWTH EBITDA NET INCOME
5,996
6,671 4,093*
56.7% 57.4% 5,990
46.0% 5,030
36.7% 4,212 4,302
29.5%
2,396
1,858 1,903
1,385 803
Q4 21 Q1 22 Q2 22 Q3 22 Q4 22
Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22

Revenue EBITDA Net Income Op. CAPEX/Sales

57.4% YoY 58.4% YoY 333.1% YoY 20.2%

16.0 Billion TL 6.7 Billion TL 6.0 Billion TL (LTM as of Q4 2022)

* Net impact from fixed asset revaluation Investor Presentation | 19

 Turkcell Group
Revenue
QUARTER FULL YEAR
MILLION TL MILLION TL

57.4% 50.0%
253 314 773 954
526 2,604
4,759 13,628

16,044 53,878
10,192 35,921

Revenue Δ Turkcell Δ Turkcell Δ Techfin Δ Other Revenue Revenue Δ Turkcell Δ Turkcell Δ Techfin Δ Other Revenue
Q4 21 Turkey International Q4 22 2021 Turkey International 2022

• Yearly incremental revenue generation of 5.9Bn TL in Q4 22; 18.0Bn TL in 2022

• 4.8 billion TL revenue from Turkcell Turkey; which grew 61.9% YoY in Q4 22, thanks to higher ARPU performance, upsell efforts and larger subscriber base
• High contribution from Techfin Segment with a 76.8% yearly revenue growth in Q4 22
Turkcell Group
EBITDA & EBITDA Margin
EBITDA EBITDA MARGIN
MILLION TL

58.4% 0.3%

(0.2%)
(2,915) 1.6%
5,852 (197) (1.8%) (0.6%)
(323) 43 1.3%

41.3% 41.6%
6,671
4,212

EBITDA Δ in Δ in Direct Δ in G&A Δ in S&M Δ Doubtful EBITDA EBITDA Radio Cost of Employee Intercon. Other EBITDA
Q4 21 Revenues cost of expenses expenses trade Q4 22 Margin Expenses Goods Sold Exp.*** Exp. Margin
revenues* receivables** Q4 21 Q4 22

• EBITDA Margin improved by 0.3% thanks to lower growth in interconnection expenses and cost of goods sold
• Strong profitability of Turkcell International: 50.9% EBITDA Margin in Q4 22

* Excluding depreciation and amortization ** Net impairment losses on financial and contract assets *** Employee expenses in cost of revenue, selling & marketing expenses and administrative expenses
 Turkcell Group
OPEX Breakdown
OPEX BREAKDOWN* COST OF REVENUES BREAKDOWN*

21%
SHARE IN OPEX 2021 2022 CoGS 24%
15%
Treasury Share 16%
Cost of Revenues 85.8% 85.7%
12%
Personel Exp. 12%
12%
Intercon. Exp. 15%
S&M 8.5% 8.5%
Radio Exp. 11%
7%

Freq. Exp. 5%
G&A 4.4% 4.8% 6%

Transmission Exp. 3%
3%

Internet Exp. 2%
Doubtful Trade 2%
1.3% 1.1%
Receivables Roaming Exp. 2%
2%

Universal Service Fund 2%

2%

Cost of Rev. from Fin. Serv. 2%

1%

Other 12%
11%

2022 2021

* Excluding depreciation and amortization

Turkcell Group
Net Income Development
MILLION TL
333.1%
Δ in Net Impact of Fixed Asset Revaluation: 3.1 Bn TL

(385)

3,088

(440)
(425) 314 5,996 5,996
2,460

3,404 3,293
2,980 2,980

1,385 1,385

Net Income Δ EBITDA Δ Depreciation Δ Financial Inc/Exp Δ FX Gain/Loss Δ Tax Δ Other Net Income
Q4 21 Q4 22
Turkcell Group
Free Cash Flow
MILLION TL

(3,028)

6,671
(2,657)
(668)
1,133
(430)
1,021

EBITDA Acquisition of property, Acquisition of Change in operating Payment of lease Income tax paid FCF
Q4 22 plant & equipment intangible assets assets/liabilities liabilities Q4 22
 Turkcell Group
Solid Balance Sheet
SUMMARY NET DEBT/EBITDA
MILLION TL

Q4 21 Q3 22 Q4 22 1.1x 2,882 3,365 TFC loan portfolio

2,096 1.0x 0.9x
1.0x 0.9x 0.8x
Total Cash 18,629 24,345 25,961
17,400 17,473 Net Debt2
14,622
Total Assets 70,683 90,655 101,265
Q4 21 Q3 22 Q4 22
Total Debt 36,778 51,922 53,854 1 2
Net Debt/EBITDA Net Debt/EBITDA
Lease Obligations 2,906 3,108 3,055
DEBT SERVICE (PRINCIPAL & INTEREST)3
22,562 25,532 30,895 USD MILLION
Total Equity
913
Net Debt1 16,717 20,282 20,838 759 793
FX
461 324 913 793
Net Debt2 14,622 17,400 17,473 29 230
298 295 230 Local Currency

2023 2024 2025 2026 2027+

1We have revised the definition of our net debt calculation to include "financial assets at fair value through other comprehensive income” reported under current and non-current assets, and “financial assets at
amortized cost”. Prior periods were restated to reflect this change. Required reserves held in CBRT balances also considered in net debt calculation 2 Excludes Turkcell Finance Company’s (TFC) loan portfolio 3
Data of Turkcell Group companies excluding TFC.
Turkcell Group
FX Exposure
FX POSITION BREAKDOWN DERIVATIVE PORTFOLIO BREAKDOWN
USD BILLION EQUIVALENT

FX Debt¹ FX Cash Other Derivative Portfolio 7%

0.6 Cross Currency Swaps

Proxy Hedges
(0.2)
(1.9) 93%
1.3

NET FX POSITION2
USD MILLION
Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 • Average cost of hedging for FX loans at around 12%
(19) (25)
• Net FX position is inline with our FX neutral definition (-/+ 200 Mn USD)

(149)
(191) (204)

1 Presented as net of net investment and cash flow hedges. Please see our consolidated financial statements and notes for details. 2 Including advance payments
Turkcell Group
CAPEX
OPERATIONAL CAPEX/SALES OPERATIONAL CAPEX BREAKDOWN
2021 2022

36% 29%

36% 44%

13% 17%
21.2% 16% 11%
20.2%
18.5%
Mobile Fixed International Other

OPERATIONAL CAPEX INTENSITY BY SEGMENT

49%
40%
33% Mobile
2020 2021 2022
Fixed
14% 13%
8%
Disciplined and focused CAPEX Management: Op. Capex/Sales ratio is in
line with 2022 guidance
2020 2021 2022

Note: Operational CAPEX figures exclude license fees.

Turkcell Group

BUSINESS
REVIEW
Focus On Strategic Areas
Well-Positioned to Create More Value

Digital Services & Solutions Digital Business Sevices Techfin Services

STRATEGIC
FOCUS AREAS

Telecom Services

CORE
COMPETENCIES Strong Bond With State-of-the-art Advanced Analytics Strong &
Customers Infrastructure & Technology Agile Team

Investor Presentation | 29
Mobile Overview
Best Positioned to Capture Rising Data Demand
SUBSCRIBER MARKET SHARE: THE LEADER FREQUENCY BANDS: WIDEST
234.4 MHz
>99% 20.0
175.0 MHz
800 MHz
22.3% 24.8
Turkcell Network coverage 900 MHz
41.4% 59.6 139.8 MHz 20.0
Vodafone 20.0
20.0 1800 MHz
24.8
36.4%
Türk Telekom 68.3 Mbps 70.0 20.0
70.0
2100 MHz
35.0 30.0
Leader in 81 cities 60.0 40.0 35.0 2600 MHz
in download speed
Turkcell Vodafone Türk Telekom
Source: ICTA, Q3 2022

NETWORK SPEED: FASTEST TECHNOLOGY: SMARTEST & MOST ADVANCED

1.6 4x4 MIMO* NB-IoT
Gbps &
4x4 &
256 QAM LTE-M
The Only Operator Among 3 Operator all network enabled
in Turkey in the world

The First Operator 5 CC Carrier The Best

AI-Enabled Smart
in Europe Aggregation Self Organizing
Experts Network
Turkcell Op.1 Op.2
Gigabit LTE*
Investor Presentation | 30
Source: GSA (Global Mobile Suppliers Association), December 2022 MIMO: Multi Input Multi Output
 Fixed Broadband Market in Turkey
Best Challenger in the Market
TURKISH FIXED BB MARKET FIXED BB SPEED1 (Mbps) FIXED BROADBAND MARKET BY TECHNOLOGY (Mn)
21.6%
Global 78
19.1%
Italy 64

Spain 16.3%
18.8 mn
180 1.39
73,3% 3 major 1.37
Total Household Operators Romania 175 13.4% 1.30
Subscribers Penetration
Belarus 53
12.1%
10.3% 4.84 5.46
Turkey 32
1.08 4.01
8.7% 0.93
7.7%
0.83 3.21
2.80
MARKET SHARE2 0.74 2.34
Q3 2022 0.63 1.93
1.67
11.0 11.4 11.3
9.5 9.7
Incumbent 8.7
60.1% 7.2 7.8

37.8%
2.1%
2015 2016 2017 2018 2019 2020 2021 3Q 2022
Other ISPs
xDSL Fiber Cable Fiber Household Penetration

1 Speedtest Global
Investor Presentation | 31
Index, mean speeds, Sept 2022, 2 Company calculation based on data in ICTA Q3 2022 Report, 3 ICTA Q3 2022 Report & Company calculation
Well-invested Infrastructure
Focused on Fiber Roll-out
Turkcell In partnership with
(stand-alone) Turksat & Vodafone
Homepass 5.4 mn 5.4 mn fiber + 5.6 mn cable (HFC)

Number of cities 28 35

First in Europe:
Turkcell Infrastructure
10 Gbps
Turksat Infrastructure fiber to the home

Overlapping

The map displays the cities in Turkey where Turkcell offers fiber and cable internet services through its partnership with Türksat and Vodafone. HFC stands for hybrid fiber-coaxial.
Investor Presentation | 32
Digital Services & Solutions
Dynamics of Strategy

COMMUNICATION ENTERTAINMENT GROW IN CORE BUSINESS

Live TV & VoD

Cloud Storage

Standalone revenue generation Music Streaming

Increasing data usage & traffic Cloud Gaming

Increasing loyalty & retention

GROW IN B2C
Leveraging telco power
BiPMeet

Lifebox Business

YaaniMail

Digital Advertising
CLOUD PLATFORMS
Investor Presentation | 33
Digital Services
Differention with Unique Features

Top-Notch Features Telco-OTT Power Superior Experiences

HD Video Calls up to 15 Time shift & Cloud Recording App2NW Live Concerts
Quality of Service Smart Albums
Instant Translation Rich Content NW2App Multi Platform
Dedicated Bandwidth Discover Services
Emergency Button Song Identification 2nd Number OTT Box Crypto Buy&Sell
BiP Status Moodmeter
Cloud Gaming Cloud based Gaming
End2End Encryption Segmented subscriptions Experience
Payment Integration
BiP Meet Investor Presentation | 34
Digital Services
Global Expansion

NEGOTIATION

DONE DEAL

TURKEY

TURKEY

Investor Presentation | 35
TV+
Increasing Penetration & Market Share
IPTV SUBSCRIBERS (thousand)
• IP based & OTT solutions
• Big screen strategy with Smart TV & TV+ Ready
67% • Live channels & Rich VoD content
IPTV Penetration in • 4K broadcast
1,231 1,282
1,126 1,186 residential fiber
1,082 • Offline viewing
• Cloud based platform

Q4 21 Q1 22 Q2 22 Q3 22 Q4 22
TV MARKET SHARE
32.9% 33.2%
Digiturk (beIN)

Tivibu

21.1% 19.0% Cable

19.4% 18.3%
13.3% 15.9%
13.6% D-Smart
13.4%
TV+

Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22
Investor Presentation | 36
Note: ICTA Q3 2022 Report
Digital Business Services
One Stop Shop For Corporates

Data Center & Artificial

Cloud Services Intelligence

Managed Business
Services Applications

Cyber Digital Industry Specific

Security Business Solutions
Services
Internet of System Integration
Things Projects

Big Digital Transformation

Data Services

FOCUS ON KEY
INDUSTRIES Government &
Health Education Manufacturing Retail
Local Government
Investor Presentation | 37
Digital Business Services
Addressable Market & Turkcell Positioning

TELCO BUSINESS / EXISTING BUSINESS DIGITAL & ICT BUSINESS / GROWTH ENGINE

46 %
Telco
Market Share Addressable
Market
11 %
ICT
Market Share

53
• Superior network perception • Fragmented market
• Net add & increase in ARPU • Lack of strong system integrator
• Opportunity of multiplay, new services • One-stop shop for ICT Services
• High margin Billion TRY • Increasing demand for digital transformation

HARDWARE & SOFTWARE BUSINESS / OPPORTUNISTIC APPROACH

• Profitable growth with integrated solutions

Telco market figures consist of mobile and fixed voice & data figures and exclude hardware sales. Mobile figures are based on Futurebright 2021 Q4 Field Research. Fixed figures are based on ICTA Report Investor Presentation | 38
2021 Q4 and Turkcell Estimation. ICT, Hardware & Software figures are based on IDC Blackbook 2022. Adressable market size is as of 2021.
Techfin Services
Complementary Portfolio

Leading Widespread Leading

Payment Platform Financing Company Insurance Agency

End-to-end digital process

12M+ customers with KYC
7.7M+ active customers
20M+ app downloads
51K+ merchants
37Bn TL transaction volume in 2022
1.8M+ personal loans per year
Leader in micro loans:
20% market share* in loans below 5K TL Turkcell Dijital Sigorta
Over 70% approval rate
Insuretech
License application is approved

* As of December 2022 Investor Presentation | 39

 Turkey Financial Services Dynamics
An Attractive Market with High Mobile Penetration

Banking is Penetrated, But Still

Large Economy with a Young Sizeable Potential for Fintechs Explosive Growth in Digital
& Tech-savvy Population Payments

73% banking penetration, 61% mobile banking penetration

22nd largest economy in the world yet 17.6 mn unbanked population 25% YoY growth in mobile banking
with $ 10.6 K+ GDP/capita active customers1

~100 mn credit cards, >75% YoY growth

85 mn+ total population with TRY 2.870 bn credit card spending volume in e-commerce
45 mn+ aged between 10-44 while 60%+ of all payments done with cash
c.$ 975 mn gaming revenue
82% internet, 2.2 mn merchants and 3.4 mn POS eligible pool, 21% growth
81% social media, points with SME underbanked due to low
93% smartphone penetration (Turkcell) profitability TRY 3.7 bn mobile payment via phone bill

TRY 3.4 bn POS loan stock

Investor Presentation | 40
Source: Turkish Statistical Institute, IMF, World Bank Global Findex, S&P Global Market Intelligence, BKM (Interbank Card Center), CBRT, TESK, FKB, We are Social 2021, TBB, Eticaret, sector reports and press
Techfin Services
New Opportunities with Supportive Regulations
Physical POS devices allowing mobile apps to complete scanning QR through Interbank infrastructure

National
Benefit: Ability to increase penetration
QR

Adaptation of PSD2 Payment Services Directive of EU in Turkey

Benefit: Ability to reach banking system with new Open Banking Licenses, becoming single interface for customers
PSD2

Using smartphone or tablet to perform the functions of a cash register

Benefit: Increased penetration of longtail merchants
MPOS

Digital banking and BaaS model licence regulation is published

Digital
Benefit: Extending service portfolio, becoming single interface
Banking

Paycell Card (E-Money) top-up via Direct Carrier Billing

Benefit: Ability to reach all merchants without bearing integration costs
E-money
Investor Presentation | 41
Paycell: A User Friendly Super-App
Encompasses all FinTech Verticals with its Large Diversified Portfolio

Prepaid
Card
Leading payments platform
Bill … both in revenues and profits
Investment
Payment

7.7 Mn+ 3-month active users

TURKISH … using various payment products
FINTECH
E-Wallet/ ECOSYSTEM Money
E-Money Transfer
Access to 40Mn+ Turkcell customers
… with GDPR consent, competitive customer
acquisition capabilities

Merchant
Pay Later
Solutions
Solutions 51K+ merchant network
(POS)
Leading discount market, e-commerce, F&B
and entertainment retailers and global brands

Investor Presentation | 42
Togg
E-mobility Ecosystem Around the Electric Vehicle

Oct 29th: Gemlik Technology Campus opened

& became ready for mass production

Mar 2023: The pre-sale for T10X began

By 2030: Total vehicle production of 1 million

units from 5 different models

EUR 116 Mn capital commitment

EUR 96 Mn has been paid
23% subsidiary

Investor Presentation | 43
 Turkcell New Technologies Venture Capital
Capture High-growth Profile Companies to Enhance Synergy & Value
AIMS OF THE FUND
Enhance portfolio with new unique value propositions

Turkcell New Technologies Accelerate the digital transformation

Venture Capital

Acquire innovative capabilities to maintain competitive edge

Z Co.
B Co. C Co.
A Co.
Gain view of trends & market dynamics
D Co. E Co. F Co.

Benefit from a strategic perspective

G Co. H Co.

Yield to financial returns

Cyber Security

Companies we Refurbished electronics Fund we have

have invested invested in so Rota Portföy – Heatlh VCF
in so far far
Gaming App development*
Investor Presentation | 44
*Transfer to be realized.
Turkcell International
Operations in Ukraine
UKRAINE MOBILE MARKET FACTS* lifecell PERFORMANCE

UAH MILLION Q4 2022 YoY% 2022 YoY%

63 mn 145% 3 Revenue 2,607 8.3% 9,412 11.0%

Total Mobile Operators
subscribers Penetration
EBITDA 1,506 14.1% 5,447 14.6%

EBITDA Margin 57.8% 3.0pp 57.9% 1.9pp

HIGHLIGHTS
• 8.5 million subscribers (3-months active), 18.1% ARPU YoY growth in Q4
• Market leader in SP penetration: 84.3%
Ownership Ownership Ownership • First to launch 4G services in Ukraine on 2600 MHz
100% Turkcell 100% VEON 100% Bakcell • 4.5G services on the 1800 MHz frequency since July 1st, 2018
• NCCIR issued license for both GSM and LTE in 900 MHz band
• License became valid as of July 1st, 2020 (for 5 years)
* Source: GSMA Intelligence, Digital 2022 Report on Ukraine Investor Presentation | 45
Turkcell International
Ukraine: Mobile Market Performance
MARKET SHARE* FINANCIALS** lifecell Kyivstar VDF
Subscriber Mobile Revenue Growth (in UAH)
(YoY)

16.9% 25.7%
21.5%
KYIVSTAR
12.5% 15.1%
50.8% VDF 9.8% 8.7%
5.4%
32.4% lifecell 9.8% 9.6% 8.3%
3.9%
1.8%
-3.6%
-7.5%
Q4 21 Q1 22 Q2 22 Q3 22 Q4 22
(*) 3 month active subscribers

Mobile Revenue EBITDA Margin (%)

16.9% 64.2% 62.0% 61.8% 61.8%

KYIVSTAR 59.6% 59.6% 57.8%
56.7%
49.0% VDF 51.3%
57.9% 59.8%
54.8% 56.0% 54.7%
34.2% lifecell

Q4 21 Q1 22 Q2 22 Q3 22 Q4 22
Investor Presentation | 46
*Source: Company announcements (Q4 2022) **VDF Ukraine do not announce results publicly
Ukraine Operations
Developments & Actions

UKRAINE SUBSIDIARIES STATUS & ACTIONS (as of Q3)

• No damage and outage in the core network

• 9K base stations, ~23% temporarily down on average
• Proactive operational risk management
(Q3 2022) • Data center backed-up in Lviv, Poland & Czech Republic
Network
• Sufficient maintenance equipment ensured
% of Group Revenues 8.2% 0.04% 0.08% • National roaming started among 3 operators

• No loss of life or injury among our employees

% of Group EBITDA 11.5% 0.4% ~0%
• Additional benefits have been provided to all subscribers
Operations • Low subscriber penetration in the invaded areas
• ~92% of the stores are open nationwide on daily average
% of Group Assets 9.5% 1.2% ~0%

• Banking systems continue to operate within the country

• No interruption in ICT systems
# of Employees 1,026 77 632 • Cash position is conducive to sustain the operations
Financials
• Liquidity is mostly kept at creditor banks

Investor Presentation | 47
Turkcell International
Operations in Belarus
BELARUS MOBILE MARKET FACTS* BeST PERFORMANCE

BYN MILLION Q4 2022 YoY% 2022 YoY%

12 mn 123% 3 Revenue 39 9.0% 146 0.3%

Total Mobile
Operators
Subscribers Penetration
EBITDA 12 22.8% 44 16.0%

EBITDA Margin 32.0% 3.5pp 30.2% 4.1pp

HIGHLIGHTS
Ownership Ownership Ownership • 1.1 mn subscribers in Q4 2022 (3-months active)
100% Turkcell 51% Belarusian State 100% Telekom Austria
49% MTS • Provides 4G LTE services in 6 regions and over 4.1K sites

• Average monthly data consumption grew by 16% YoY to 16 GB

• 78% of subscribers uses 4G, driving further data & digital services usage
* Source: Company calculation based on Q4 2022 results Investor Presentation | 48
Turkcell International
Belarus: Mobile Market Performance
MARKET SHARE* FINANCIALS life:) A1 MTS

Subscriber Mobile Revenue Growth (in BYN)

(YoY)

12.0% 18.7%
11.8%
MTS 10.8% 10.1% 8.8% 8.9%
2.6% 3.7%
47.4% A1 9.5% 3.5% 4.0% 6.4%
40.7% life:)
(2.0%) (1.7%) (3.6%)
(5.8%) (6.1%)
(9.6%)

Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22

Revenue life :) EBITDA Margin Trend

5.0% 31.1% 31.1% 32.0%
28.5% 26.6%
MTS
44.1% 50.9% A1 14.8%
life:)

Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22

Investor Presentation | 49
* Market share calculated on registered subscribers. Source: Company assumptions (Q4 2022)
Turkcell Group

KEY FINANCIAL
PRIORITIES
Turkcell Group
Key Financial Priorities

Effective Strong
Focus on Efficient
Balance Sheet Free Cash Flow
Pricing Capital Allocation
Risk Management Generation

• Key to sustainable growth and
profitability
• Assurance for required return on
investment
• Above-market ARPU growth
• Liquidity management
• Net FX position
• Average maturity of debt
• Sustainable revenue growth
• Continued operational profitability
• Controlled capex
• Review of investment
requirements in conventional
services
• Investment in high-growth
businesses
• Ensure returns above WACC

Investor Presentation | 51
Key Financial Priorities
Inflationary Pricing
TURKCELL ARPU VS. CPI TREND MOBILE ARPU COMPARISON
Q119=100 Q119=100
Company and TUIK announcements 277 Based on ICTA market report
255
235
201 245
226
152 157
135 134 132 135 184
120 120 121 122 158
100 107 156
141
130 138
112 115 118 124
100 103 106 109
Q1 19
Q2 19
Q3 19
Q4 19
Q1 20
Q2 20
Q3 20
Q4 20
Q1 21
Q2 21
Q3 21
Q4 21
Q1 22
Q2 22
Q3 22
Q4 22

Q1 19
Q2 19
Q3 19
Q4 19
Q1 20
Q2 20
Q3 20
Q4 20
Q1 21
Q2 21
Q3 21
Q4 21
Q1 22
Q2 22
Q3 22
Q4 22
TCELL ARPU (exl. M2M) CPI TCELL Operator 1 Operator 2

Key for sustaining Secure ROI of Reflecting costs ARPU growth

growth & margins projects & investments to the prices above competition

Investor Presentation | 52
Key Financial Priorities
Efficient Capital Allocation
GLOBAL TELCO INDUSTRY CHALLENGES

Heavy Slow
investment revenue
need growth

IPO/M&A activities Digital services (TV, music, etc.)

Turkcell’s
Infrastructure sharing Techfin services
Responses
Sell & leaseback transactions ICT solutions (datacenter, cloud etc.)

Reduce funding needs Flow of funds Invest in new high growth areas
in capex heavy traditional business

Improve returns over WACC

Investor Presentation | 53
Effective Balance Sheet Management
Major Funding Details
TYPE & DATE AMOUNT MATURITY INTEREST PURPOSE OF FUNDING UTILIZATION HEDGING DETAILS
Bond 5.75% CAPEX and inorganic
USD 500M 15.10.2025 - -
(October 2015) (fixed rate) growth opportunities

EURIBOR
EUR 500M Debt restructuring Fully utilized in Oct 15 100% hedged with PCCS
+2.20%
China Development Bank 3-year grace period,
(October 2015) 10-year maturity EUR: EURIBOR+2.15%
~EUR 560M fully utilized and ~91% hedged with PCCS &
EUR 750M USD: LIBOR+2.17% CAPEX
CNY: 5.51%
availability period is expired CCS

Bond 5.80% Repayment of existing

USD 500M 11.04.2028 - -
(April 2018) (fixed rate) indebtedness

EKN-Covered 1st Tranche: LIBOR+2.10% Fully utilized

USD 150M 10-year maturity CAPEX -
(March 2019) 2nd-3rd Tranche: 5.35% İn Apr 21
Maturity extension &
Sustainability Linked Loan EURIBOR + (2.00 - 2.20%)* General corporate
EUR 70M 4-year maturity increase in principal amount -
(May 2019 - Dec 2021) According to KPI achievement purposes
in Dec 21
Green Loan Sustainable Fully utilized
EUR 50M 5-year maturity EURIBOR + 1.95% -
(March 2020) Investments in Mar 20
EUR Tranche:
EUR 239M +
China Development Bank EUR 420M 3-year availability period, EURIBOR + 2.29%
CAPEX CNY 325M utilized -
(August 2020) CNY 650M 8-year maturity CNY Tranche:
as of February 23
5.15%
EKN Covered USD 54M
USD 90M 10-year maturity 3.04% CAPEX -
(December 2020) as of February 23

TRY Bond TRY 1,000M

6 months maturity 25.50% CAPEX&OPEX TRY 500M -
(December 2022) (approval from CMB)
Investor Presentation | 54
Unlocking the Value
Funding Future Growth
VALUE CREATION GROWTH BUSINESSES
MILLION TL
Diversified Sources of 9,957
Portfolio Funding 6,872

Fastest Fiber Company 3,435 4,509

Telecom Services FCF Generation

877
Digital Services Debt Financing 468

Leading Techfin Company 222 388

Digital Business Services Equity

627 691
Active Portfolio
Techfin Services
Management
422 469
First & Biggest TowerCo

2021 2022
Revenue EBITDA
Investor Presentation | 55
Turkcell Superonline
Turkey’s Fastest Fiber

• 60 thousand km rollout, 35 cities

• 2.1 Mn+ fiber customers POTENTIAL ACTIONS
• Data speed up to 10Gbps
• Infrastructure sharing (Turksat & Vodafone) INITIAL PUBLIC OFFERING STRATEGIC PRE-IPO PARTNER
• 5.4 Mn fiber homepass
• More transparent articulation of • Prepare for IPO
equity story
• Invest jointly
NET REVENUE EBITDA • Share know-how
MILLION TL MILLION TL
9,808 4,392 INORGANIC GROWTH INFRASTRUCTURE SHARING
6,872 3,435
2,902 • Acquire local or regional fiber assets, • Asset light model
5,526 smart-home or new tech companies to
complement product & services
portfolio

• Look for synergies

2020 2021 2022 2020 2021 2022

Investor Presentation | 56
Paycell
Turkey’s Leading Techfin Company

• Established in 2015, fully owned by Turkcell POTENTIAL ACTIONS

• Standalone payment and e-money company STRATEGIC PARTNER

• Payment institution and e-money licenses from BRSA • Share know-how

• Mobile payment solutions in several verticals • Invest jointly

• Expand regionally

NET REVENUE EBITDA

INORGANIC GROWTH
MILLION TL MILLION TL
877 • Acquire local techfin companies to
388 expand vertical solutions to further

468 strengthen services & solutions and

222
grow user base
285 147
• Look for synergies

2020 2021 2022 2020 2021 2022

Investor Presentation | 57
Global Tower
Turkey’s First & Biggest TowerCo

• First and only TowerCo of Turkey POTENTIAL ACTIONS

• Tower portfolio of 10.9K (owned + right of use)
STRATEGIC PARTNER / MINORITY INVESTOR
• Regional player operating in 4 countries
Tenancy • Increase know-how & expert knowledge
• Long term, visible revenue stream & strong profitability ratio

1.8x INITIAL PUBLIC OFFERING

NET REVENUE TREND EBITDA TREND • More transparent articulation of equity story
MILLION TL MILLION TL
693
INFRASTRUCTURE SHARING
470

504 355 • Asset light model

2021 2022 2021 2022

Investor Presentation | 58
Note: Tower portfolio includes owned and managed towers and towers for which contract management services are provided.
Datacenters
Largest White Space Capacity in Turkey
ANKARA GEBZE ÇORLU İZMİR

39.5k m2
white space in 8 locations

122k m2
datacenter space in total

46k m2 datacenter space, 33k m2 datacenter space, 28k m2 datacenter space, 15k m2 datacenter space,
12k m2 white space 10k m2 white space 7k m2 white space 2.4k m2 white space

CUMULATIVE DATACENTER INVESTMENTS FUTURE FUNDING

MILLION TL
2,149
1,697 SELL AND LEASE BACK
1,282 • Asset light model
1,134
788
FREE CASH FLOW GENERATION

2018 2019 2020 2021 2022

Investor Presentation | 59
Turkcell Group

SUSTAINABILITY
 Sustainability Initiatives
Responsible Business Culture

ENVIRONMENTAL SUSTAINABILITY
ENVIRONMENTAL SUSTAINABILITY SOCIAL
DIGITAL & SOCIAL INCLUSIVITY GOVERNANCE
ETHICAL & VALUABLE OPERATION

• Science Based Targets Initiative commitments submitted and validation

Highlights

• In-house R&D projects • Board of Directors Diversity Policy

process continues
• Scope 1: Reduce Scope 1 emission by 50.5% 2020 to by 2030 • Focus on women’s empowerment • sustainability transformation in the supply
• Scope 2: Provide 100% of electricity consumption from renewable sources 2020 to by 2030
for all Turkcell Ecosystem and Reduce Scope 2 emission by 50.5% 2020 to by 2030
• Women Employee share: 34.6% (2030T: 40%) chain
• Women Manager share: 24.9% (2030T: 28%)
• Scope 3: Reduce Scope 3 emission by 25 % 2020 to by 2030 • Women Developers of the Future
• Sustainability trainings to the whole ecosystem.
• 24,9 tons of e-waste collected by ‘Recycle into Education’ since 2019 • T.Life: Improving employee experience
• 63.3 GWh savings with the energy-efficiency projects

(SDGs)

Integrated operations aligned with the best management systems & policies
• ISO 9001 Quality Management System • Human Rights Policy
• ISO 14001 Environmental Management System • Board Diversity Policy
• ISO 14064 Greenhouse Gas Calculation and Verification Management System • Antibribery and Corruption Policy
• ISO 22301 Business Continuity Management System • Domestic Violence Policy
• ISO 27001 Information Security Management System • Environmental Policy
• ISO 45001 Occupational Health and Safety Management System • Turkcell TCFD risk Assesment
• ISO 50001 Energy Management System
Investor Presentation | 61
Sustainability Initiatives
Creating Value with a Sustainability Focus

Corporate Value Creation Mechanism Performance on the Prominent Sustainability Indices

2022 Climate Change: A-

SOCIAL 2021 Supplier Engagement Rating: A
Board of Directors
BBB (2022)
Decision-making Average among 73 companies in the
telecommunication services industry

Borsa Istanbul Sustainability 25 Index member

Integrated Value Creation Committee

Strategic coordination of all ESG issues

Memberships & Commitments to Top Global Sustainability Initiatives
and integrated annual report

Sustainability Project
Committee Groups
Steering and implementation of all ESG issues
Investor Presentation | 62
Turkcell Group

APPENDIX
 About Turkcell
Corporate Governance
SHAREHOLDING STRUCTURE BOARD COMMITTEES

AUDIT COMMITTEE NOMINATION COMMITTEE

100% 100%
EARLY PREVENTION OF RISKS
REMUNERATION COMMITTEE
COMMITTEE

CORPORATE GOVERNANCE STRATEGY AND

PUBLICLY HELD TWF BTIH IMTIS H. COMMITTEE DIGITALIZATION COMMITTEE
54% 26.2%* 19.8%

BOARD OF DIRECTORS

Bachelor’s
56% 1/9 woman

Master’s
33%

Doctorate
TVF BTIH: TVF Bilgi Teknolojileri İletişim Hizmetleri Yatırım San. ve Tic. A.Ş. 11% 3/9 independent
IMTIS H.: IMTIS Holdings S.à r.l.
*Including 15% privileged Group A shares

Investor Presentation | 64
Mobile Termination Rates In Turkey
Glide Path Announced
MOBILE VOICE RATES
OLD 2022 Asymmetry 2023 Asymmetry Since 2024 Asymmetry
The asymmetry
Turkcell 2.50 2.39 2.25 2.1 in MTRs will be
removed
Vodafone TR 2.58 2.44 2% 2.28 1% 2.1 - as of 2024
(Asymmetric
since 2006)
TTKOM 2.96 2.71 13% 2.41 7% 2.1 -

EVOLUTION OF MTR
TRY kuruş per min. MTR -Turkcell Europe-MTR
17.2
15.7
13.6 14.4 Turkcell MTR is
11.1 11.1 3.1x
9.1 8.1
6.8 7.8 below EU
6.6 6.5 5.4 5.6
4.9 4.8 4.2 4.4 (as of 2021)
3.1 3.1 3.1 2.5
2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.4

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

MTR: Mobile Termination Rate

Investor Presentation | 65
Source: BEREC January 2021 report
Telecommunication Market
Taxation in Turkey
TAX MOBILE FIXED

Special Communication Tax (SCT) 10% 10%

VAT 18% 18%

Treasury Share1 15% 1%

TRX fees 5% -
(of net sales)

Contribution Share to Telecom Authority 0.35% 0.35%

(of net sales) (of net sales)

New subscription SCT2 (at first enrollment) TRY 260.00 -

Wireless license fees (per acquisition) TRY 113.14 -

Wireless usage fees (annual) TRY 113.14 -

1 Under the license agreement Turkcell pays a treasury share equal to 15% of its gross revenue from Turkish GSM operations
2 Excluding M2M SIMs Investor Presentation | 66
 Turkcell Group
Financial Summary

MILLION TL Q4 2022 YoY Growth 2022 YoY Growth

Revenue 16,044 57.4% 53,878 50.0%

EBITDA 6,671 58.4% 21,994 46.5%
EBITDA Margin 41.6% 0.3pp 40.8% (1.0pp)
EBIT 4,156 94.6% 12,516 62.1%
EBIT Margin 25.9% 4.9pp 23.2% 1.7pp
Net Income 5,996 333.1% 11,053 119.7%
Net Income
1,903 437.4% 6,445 83.7%
(Exc. Fixed Asset Revaluation Net Impact)

Opr. Capex/Sales* 27.8% 1.4pp 20.2% (1.0pp)

Note: TRY figures are based on TFRS. * Excluding license fees

Macroeconomic Indicators
Currency Trends
USD / TRY EUR / TRY
18.70
19.93
13.33 15.09
16.49
17.31
7.34 9.01
5.94 6.65
8.88 10.48
7.01 8.03
5.66 6.33
2019 2020 2021 2022 2019 2020 2021 2022

USD / BYN USD / UAH

2.74 36.57
2.58 2.55
2.10
2.46 2.54 2.61 28.27 27.34
25.90 32.49
2.10
23.69 27.04 27.28

2019 2020 2021 2022 2019 2020 2021 2022

Investor Presentation | 68
NOTICE

This presentation may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor
provisions of the US Private Securities Litigation Reform Act of 1995. This includes, in particular, our targets for revenue, EBITDA and operational capex in 2023. More generally, all statements other
than statements of historical facts included in this presentation, including, without limitation, certain statements regarding the launch of new businesses, our operations, financial position and
business strategy may constitute forward-looking statements. In addition, forward-looking statements generally can be identified by the written or oral use of forward-looking terminology such as,
among others, "will," "expect," "intend," "estimate," "believe", "continue" and “guidance”.
Although Turkcell believes that the expectations reflected in such forward-looking statements are reasonable at this time, it can give no assurance that such expectations will prove to be correct. All
subsequent written and oral forward-looking statements attributable to us are expressly qualified in their entirety by reference to these cautionary statements. Factors such as changes in the state
of emergency measures and potential aftershocks, as well as the risk factors disclosed in our Annual Report on Form 20-F for 2021 filed with U.S. Securities and Exchange Commission, may affect the
outcome of such forward looking statements. We undertake no duty to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
We are publishing financial statements as of December 31, 2022 prepared in accordance with Turkish Accounting Standards/Turkish Financial Reporting Standards (“TAS”/“TFRS”) only. These
standards are issued by the Public Oversight Accounting and Auditing Standards Authority (“POA”) and are in full compliance with IAS/IFRS Standards. In an announcement published by the POA on
January 20, 2022, it is stated that TAS 29 “Financial Reporting in Hyperinflationary Economies” does not apply to TFRS financial statements as of December 31, 2021. Since then and as of the
preparation date of our latest consolidated financial statements, no new statement has been made by the POA about TAS 29 application. Consequently, no TAS 29 adjustment was made to our
consolidated financial statements.
Financial statements prepared in accordance with IFRS should apply IAS 29 “Financial Reporting in Hyperinflationary Economies” as of December 31, 2022. In this context, financial statements
prepared in accordance with IFRS and TFRS would have significant differences and would not be comparable as of December 31, 2022. We intend to publish IFRS financial statements, compliant with
IAS 29 to the extent that it remains applicable, with our Annual Report on Form 20-F that will be filed to the U.S. Securities and Exchange Commission.
Although we have not prepared a detailed comparison of differences between IFRS (unadjusted according to IAS 29) and TFRS, we have noted in our past financial statements that the most
significant differences have appeared in the lines Other Operating Income/Expense, Finance Income/Expense, and Investment Activity Income/Expense. In the past, revenue, net income and EBITDA
have generally not differed. While no assurance can be given that this will be the case for Q4 2022, we are not at present aware of changes that would cause other significant differences, other than
those resulting from the application of IAS 29.
The Company makes no representation as to the accuracy or completeness of the information contained in this presentation, which remains subject to verification, completion and change. No
responsibility or liability is or will be accepted by the Company or any of its subsidiaries, board members, officers, employees or agents as to or in relation to the accuracy or completeness of the
information contained in this presentation or any other written or oral information made available to any interested party or its advisers.
Please note that all financial data are consolidated whereas non-financial data are unconsolidated unless otherwise specified. In the charts or tables used in this presentation totals may not foot due
to rounding differences. The figures used in this presentation are rounded while percentage changes are calculated based on the figures disclosed in the press release.
Please also note that this presentation should be considered together with the press release filed for the same period.
For further information please e-mail
investor.relations@turkcell.com.tr
or call Turkcell Investor Relations at
(+90 212 313 1888)
Turkcell IR Website