Slides
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Q3 2025 NOV 6, 2025 TURKCELL GROUP
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Ali Taha Koç, PhD Turkcell CEO Q3 2025 BUSINESSOVERVIEW
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Q3 2025 Results| 3 Turkcell Group: Q3 2025 Highlights *Mobile ARPU (excluding M2M), IAS 29 Adjusted All financial figures are based on IFRS, unless stated otherwise. Strong Results Driven by Strategic Execution Revenue TRY 59.5 Billion 11.2% YoY increase EBITDA TRY 26.2 Billion 10.5% YoY increase EBITDA Margin 43.9% 0.3pp YoY decrease Net Income from continuing operations TRY 5.4 Billion 31.8% YoY increase Postpaid Net Add 569 K Turkcell Fiber Net Add 33 K Mobile ARPU* TRY 403.9 11.9% YoY increase DC & Cloud Revenue Growth 51% Solar Panel Capacity 37.5 MW (as of Q3 25) Techfin Revenue Growth 20% DC Investment EUR 545 Mn (as of Q3 25) Residential Fiber ARPU TRY 467.5 17.3% YoY increase Another quarter of robust performance… …powered by operational excellence …and supported by key growth engines
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Q3 2025 Results| 4 Creating Türkiye’s best 5G coverage, built on Türkiye’s best 4.5G network * Source: Subscriber numbers based on Q225 ICTA report ** Excluding VAT > 1000Mbps Speed Enabling next-generation connectivity with ultra-high speeds of 1000Mbps and above < 5ms Latency Ultra-low latency through minimized data exchange ~1M device/km2 Capacity Enables up to 1 million simultaneous connections, paving the way for the IoT era A New Era Begins The Leader Once Again: Securing Türkiye’s Largest 5G Spectrum Tender Results 0.20$ 0.21$0.27$ Cost / MHz / Subscriber* Commercial launch: April 1, 2026 Licence fee: 1.2 Billion USD**, to be paid in 3 installments Turkcell Türk Telekom Vodafone 234.4 MHz 175 MHz 139.8 MHz 394.4 MHz 315 MHz 239.8 MHz +160 Mhz +140 Mhz +100 Mhz
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Q3 2025 Results| 5 Mobile Operational Highlights POSTPAID 28.6 30.1 30.6 Q3 24 Q2 25 Q3 25 Net Add 569 K QoQ Net Add 2.0 MN YoY PREPAID Net Loss 270 K QoQ Net Loss 1.7 MN YoY CHURN MONTHLY AVG. 2.2% 2.2% 2.6% Q3 24 Q2 25 Q3 25 MOBILE ARPU (excl. M2M) BLENDED, TRY, Historical Figures MOBILE ARPU vs CPI YEARLY CHANGE IN %, Historical Figures 65.0% 66.4% 62.0% 49.3% 49.0% 54.1% 46.6% 39.7% 36.1% 33.3% Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 ARPU Growth CPI SUBSCRIBER TREND Million 10.1 8.7 8.4 Q3 24 Q2 25 Q3 25 * including IPTV, OTT TV, fizy, lifebox, Game+ DIGITAL SERVICES & SOLUTIONS Stand-alone Paid User* TV+ (IPTV+OTT TV) Lifebox 4.4 MN 2.4 MN 1.4 MN 263.5 347.6 392.7 65.0% 49.3% 49.0% Q3 24 Q2 25 Q3 25 ARPU ARPU Growth 11.9% IAS29 Adj.
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Q3 2025 Results| 6 Fixed Broadband 2,423 2,488 2,522 Q3 24 Q2 25 Q3 25 TURKCELL FIBER* Net Add 33 K QoQ Net Add 99 K YoY Net Loss 23 K QoQ Net Loss 67 K YoY Net Loss 5 K QoQ Net Loss 59 K YoY 807 763 740 Q3 24 Q2 25 Q3 25 1,484 1,430 1,425 Q3 24 Q2 25 Q3 25 RESELL* IPTV 12-Month contract share in residential (%) 88%87%82% 54.1% 46.6% 39.7% 36.1% 33.3% 77.5% 74.3% 64.5% 59.9% 56.2% Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 CPI ARPU Growth 1.6% 1.7% 2.0% 1.4% 1.4% 1.7% Q3 24 Q2 25 Q3 25 Fixed Turkcell Fiber New Homepass +107 K Take-up rate** 42.6% IPTV penetration (in residential fiber) 59.9% * As of the fourth quarter of 2024, our fixed broadband subscriber reporting has been revised. Turkcell Fiber refers to customers served entirely through our own fiber infrastructure, while Turkcell Resell includes DSL, Cable, and Fiber sales provided through infrastructures of other ISPs. Accordingly, historical subscriber figures have been revised to ensure comparability. ** Excluding corporate 17.3% IAS29 Adj. SUBSCRIBER TREND THOUSAND Operational Highlights CHURN MONTHLY AVG. KPIs Q3 2025 RESIDENTIAL FIBER ARPU vs CPI YEARLY CHANGE IN %, Historical Figures
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Q3 2025 Results| 7 Digital Business Services Data Center Capacity Expansion DIGITAL BUSINESS SERVICES DATA CENTERS DC & CLOUD REVENUE (MILLION TL) REVENUE (MILLION TL) 484 814 367 468 Q3 24 Q3 25 Data Center Cloud 3,237 3,965 606 934 Q3 24 Q3 25 Hardware Revenues Service Revenues 1,283 851 3,844 4,899 ▲51% YoY • 1.5K new contracts secured as of Q3 25 • 5.0 Bn TL backlog* from system integration projects * Backlog refers to the value of contracted revenue from system integration projects that is yet to be recognized until the endof the contract term. ▲27% YoY Total IT capacity 54 MW (50 MW active) Added 8.4 MW of new data center capacity in Q325 Data center investments as of Q325 545 million EUR Türkiye’s first company to receive triple Tier III certificates ANKARA / TEMELLİ KOCAELİ / GEBZE İZMİR / TORBALI TEKİRDAĞ / ÇORLU MODULES ACTIVE IN PROGRESS (Design, Facility, Operations) ACTIVATED IN Q3
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Q3 2025 Results| 8 * Includes transaction volumes over Pay Later, Paycell Card, bill payments, POS solutions and money transfers through IBAN, both group and non-group for Q3 25. ** NIM: (Interest income-Interest expense)/ Average asset size *** Source: Association of Financial Institutions, as of Q225 Techfin Business Supporting Group Performance FINANCIAL HIGHLIGHTS MILLION TL FINANCIAL HIGHLIGHTS MILLION TL OPERATIONAL HIGHLIGHTS 7.5 Bn TL Loan Portfolio 0.7 Mn Active Customers 15.5 Mn Customers with Available Credit Line 3.3% Cost of Risk 50.0%*** Market leader by number of loans in consumer financing sector 1,293 1,832 581 596 10 510 1010 1510 Q3 24 Q3 25 Revenue EBITDA 1,504 1,451 4.1% 5.0% 0 200 400 600 800 1000 1200 1400 Q3 24 Q3 25 Revenue NIM** ▲2.6% YoY ▲41.7% YoY 3% YoY 48.1 Bn TL, ↑78% YoY Q3 25 Total Transaction Volume* 6.7 Mn, ↓12% YoY 3-month Total Active Users 5.6 Mn, ↓10% YoY 3-month Pay Later Active Users OPERATIONAL HIGHLIGHTS PAY LATER 5.1 Bn TL (non-group) POS SOLUTIONS 24.4 Bn TL ↑102% YoY ↑111% YoY OPERATIONAL HIGHLIGHTS Transaction Volume
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Upward Revision in 2025 Guidance TURKCELL GROUP DATA CENTER & CLOUD REVENUE GROWTH EBITDA MARGIN OP.CAPEX/SALES* REVENUE GROWTH * Excluding license fees Note: Our 2025 guidance has been established using a certain number of assumptions regarding factors beyond our control, including in relation to macroeconomic indicators such as expected inflation levels. In particular, our 2025 guidance is based on an assumed annual inflation rate of around 32%, applied on a monthly basis. ~10% 42%-43% ~23% ~43% PREVIOUS GUIDANCE REVISED GUIDANCE (NOV 2025) IAS29 Applied 7%-9% 41%-42% ~24% 32%-34%
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Kamil Kalyon Turkcell CFO Q3 2025 FINANCIALOVERVIEW
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Q3 2025 Results| 11 Revenue & EBITDA Margin Turkcell Group • 5.5 Bn TL revenue contribution from Turkcell Türkiye, with 11.1% YoY growth in Q325, supported by double-digit ARPU growth and continued expansion in postpaid base. • 0.6 Bn TL revenue contribution from the Techfin segment, growing 20.0% YoY in Q325, driven by Paycell’s strong YoY growth performance of 41.7% • The EBITDA margin slightly decreased by 0.3pp, with higher mobile finance, radio and sales expenses putting pressure on the m argin, partially offset by lower personnel and energy costs. ▲11.2% 0.3pp * Employee expenses in cost of revenue, selling & marketing expenses and administrative expenses. 53,546 59,535 5,462 569 (41) Revenue Q3 24 Δ Turkcell Türkiye Δ Techfin Δ Other Revenue Q3 25 REVENUE EBITDA Margin Million TL * 44.2% 43.9% 1.0% 0.7% (0.8%) (0.6%) (0.4%) (0.2%) EBITDA Margin Q3 24 Employee Expenses Energy Expenses Mobile Finance Expenses Selling Expenses Radio Expenses Other EBITDA Margin Q3 25
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Q3 2025 Results| 12 Turkcell Group Profit from Continuing Operations ▲31.8% Million TL 4,086 5,383 2,496 (871) (303) 1,515 (2,389) 488 362 Profit from continuing operations Q3 24 Δ EBITDA Δ Depreciation Δ Other income/expense Δ Net finance income/expense Δ Monetary gain/loss Δ Share of profit of equity accounted investees Δ Income Tax Expense Profit from continuing operations Q3 25 • FX Impact +912 • Interest Expense +677 • Interest Income (75)
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Q3 2025 Results| 13 32% 33% 13% 16% Note: Operational CAPEX figures exclude license fees CAPEX Turkcell Group 2025E Mobile Fixed Data Center OtherRen. Energy Q3 25 • Base station fiberization rate: 45% • Data Centers: 8.4 MW IT capacity addedQ3 2025 17% OPERATIONAL CAPEX/SALES OPERATIONAL CAPEX BREAKDOWN Historical Figures 7% 20.2% 16.9% 17.4% 23% Q1 25 Q2 25 Q3 25 2025 E ~ 36% 43% 7% 2% 13% • Solar renewable investments: 37.5 MW active capacity
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Q3 2025 Results| 14 Solid Balance Sheet Turkcell Group * Our net debt calculation includes "financial assets at fair value through other comprehensive income” reported under current and non-current assets, and “financial assets at amortized cost”. Required reserves held in CBRT balances are not included in total cash and net debt calculation, and thischange has been reflected in previous quarters’ figures. ** Data of Turkcell Group companies excluding Financell. Q4 24 Q3 25 Total Cash* 86,464 122,347 Financial Assets* 30,975 39,079 Total Assets 431,823 491,419 Total Debt 130,874 181,281 Lease Obligations 6,049 15,184 Total Equity 234,511 243,029 Net Debt* 13,435 19,855 794 530 450 915 205 792 742 133 17 927 547 450 915 205 792 742 2025 2026 2027 2028 2029 2030 2031+ FX Local Currency NET DEBT / EBITDA DEBT SERVICE (PRINCIPAL & INTEREST)** MILLION USD SUMMARY Million TL 13,435 19,855 0.15x 0.20x Q4 24 Q3 25 Net Debt Net Debt/EBITDA
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Q3 2025 Results| 15 Turkcell Group FX Exposure * Other includes net investment and cash flow hedges. Please see our consolidated financial statements and notes for details.Other also includes 26 Mn USD precious metal investments NET FX POSITION MILLION USD FX POSITION BREAKDOWN USD MILLION EQUIVALENT 228 (124) (76) (102) (9) -500 -400 -300 -200 -100 0 100 200 300 400 500 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 49% 32% 18% 1% Debt After Hedging Cash USD CNY TRY EUR Excl. FX Swaps FX BREAKDOWN (3,903) (9) 3,031 849 14 FX Debt FX Fin. Assets Derivative Portfolio Other* FX Position 55% 31% 10% 5%
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or call Turkcell Investor Relations at +90 212 313 1888 For further information please e-mail investor.relations@turkcell.com.tr THANK YOU IR Website
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Q3 2025 Results| 17 Turkcell Group Note: Figures are based on IFRS MILLION TL Financial Summary Q3 2024 Q3 2025 YoY Growth Revenue 53,546 59,535 11.2% EBITDA 23,669 26,165 10.5% EBITDA Margin 44.2% 43.9% (0.3pp) EBIT 8,733 10,359 18.6% EBIT Margin 16.3% 17.4% 1.1pp Profit From Continuing Operations 4,086 5,383 31.8%
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Q3 2025 Results| 18 This presentation contains the Company’s financial information for the year ended September 30, 2025 prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). This presentation contains the Company’s financial information prepared in accordance with International Accounting Standard 29, Financial Reporting in Hyperinflationary Economies (“IAS29"). Therefore, the financial statement information included in this presentation for the periods presented is expressed in terms of purchasing power of the Turkish Lira as of September 30, 2025. The Company restated all items in order to reflect the impact of the inflation restatement reporting in terms of the measuring unit current as of September 30, 2025. Comparative financial information has also been restated using the general price index of the current period. To assist the investment community in conducting comprehensive analysis and understanding the IAS29 application impacts, certain supplementary historical information for prior periods were provided. Such supplementary information contains unaudited financial information prepared for management reporting purposes. In addition to these, this presentation may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, Section 21E of the U.S. Securities Exchange Act of 1934 and the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. This includes, in particular and without limitation, our targets for revenue growth, EBITDA margin and operational CAPEX/sales for the full year 2025. In establishing such guidance and outlooks, the Company has used a certain number of assumptions regarding factors beyond its control, including in relation to macroeconomic indicators, such as expected inflation levels. Notwithstanding such guidance, outlooks and expectations, there is still uncertainty as to whether our assumptions, guidance, outlooks and expectations will be achieved, including based on the other assumptions outlined herein. 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. 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.” Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. In addition, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Many factors could cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by forward-looking statements. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended, planned or projected. These forward-looking statements are based upon a number of assumptions and other important factors that could cause our actual results, performance or achievements to differ materially from our future results, performance or achievements expressed or implied by such forward-looking statements. All subsequent written and oral forward-looking statements attributable to us are expressly qualified in their entirety by reference to these cautionary statements. For a discussion of certain factors that may affect the outcome of such forward looking statements, see our Annual Report on Form 20-F for 2024 filed with the U.S. Securities and Exchange Commission, and in particular the risk factor section therein. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this presentation. All forward-looking statements in this presentation are based on information currently available to the Company and we undertake no duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 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. Notice