1. 24 February 2012 SABANCI HOLDİNG Annual Results Sharing

2. Agenda Economic Outlook Sabancı Holding Review

3. Major headlines of the past year: o Public debt and bank reserve requirements problems in Europe, o Liquidity measures of ECB o Fiscal union attempts of the European Union member states o Earthquake/tsunami disaster in Japan, o Socio-Political tension in MENA region, Turkish economy was mildly effected by the slowed down growth and increasingly unstable environment. Central Bank’s fiscal discipline and monetary policies, increase in domestic and international credit lines and vibrant domestic demand led to high growth. Inflation increased at the last quarter of 2011, monetary policies were altered TL devaluation was reversed as a result of the restored global risk appetite due to corrective measures EU took at the beginning of 2012 World economy ended 2011 with concerns for high public debt levels

4. Global economy slowed down in 2011; further slowing down is a risk for 2012 Source: IMF ( World Economic Outlook ) World GDP, real growth,% Developed Economies GDP, real growth,% Developing Economies GDP, real growth,%

5. Growth momentum might slow down in developing economies Euro zone will be stagnant. USA is doing better Tighter budget discipline is a must in Europe, otherwise public debt is unsustainable Loose monetary policies will be applied in developed economies Liquidity measures delayed debt crisis in Euro zone; fiscal discipline is crucial Credit notes of developing countries and banks might further be brought down Markets may realize periodic gains due to increased liquidity, trend will be determined by the growth expectations Demand will put upward pressure on commodity prices Tension in the Middle East will prevent oil prices from dropping 2012 Macro Outlook: Global

6. Unfortunately 8% growth is not sustainable Domestic demand will not be as strong as the past two years Exports will be adversely affected by the lowered demand in the first half Credit growth will be slow Stringent fiscal policies will continue. We foresee the continuation of successful budget management The current deficit will shrink due to lower domestic demand We expect TL to remain stable under a 4% growth projection, diminishing current account deficit and liquidity availability assumptions 2012 Macro Outlook: Turkey

7. Source: Sabancı Holding 2012 Expectations - Turkey 20112012t 8,74,0 10,457,0 1,8891,80 1,2941,325 (1,4)(2,0) 11,19,5 (9,9)(8,5) Real Growth,% CPI,% year end USD/YTL, year end EUR/USD parity Budget Deficit /GNP,% Bond Interest, year end,% Current Acc. Balance /GNP,%

8. Agenda Economic Outlook Sabancı Holding Review

9. Consolidated net sales 22.9 billion TL (+17% vs. 2010) Consolidated operational profit (EBITDA) 4.3 billion TL Non-bank EBITDA 1.1 billion TL (+70% vs. 2010) 1.45 billion USD investments - 29% higher than last year Shareholders’ equity 14.1 billion TL 12 listed companies in ISE - 12% of the market Net Asset Value 13.0 Billion USD 1 2011 has been a year of growth, profitability and investment for Sabancı Holding Figures represent our 2011 year end expectations (1) February 2012 Source : Sabancı Holding, ISE

10. Major Developments in 2011 - IEnergy Operationalized Hacınınoğlu, Menge hydro and Çanakkale wind power plants Installed capacity reached 1,653MW, portfolio capacity is over 5,000 MW 2,358 MW of renewable resource capacity in our portfolio In accordance with our commitment to develop local resources we kicked off the construction of 8 terminals in coal, hydro and wind power Signed a 700 million Euro financing package for our second phase investments Completed the rebranding of Başkent Elektrik Dağıtım A.Ş. to Enerjisa serving over 6.6 million people in 7 cities Established the Enerjisa Enerji A.Ş. umbrella company in line with our vertical integration and optimization strategy that owns our electricity generation, trade and distribution companies Energy Group increased its 2011 sales by 28%, its EBITDA by 152% as a result of new plants coming on line and increased efficiencies

11. Bank Highest retail and financial strength grading for a bank in Turkey Global Banking & Finance Review: Best Bank in Turkey – 2011 Brand Finance: Ranked as “Turkey’s Most Valuable Bank Brand” at “World’s Most Valuable 500 Bank Brands- 2012” o Akbank brand value: $1,582,000,000 1 o Ranking 96 th on the top 500 international list (1): Brand Finance Major Developments in 2011 - II

12. Retail & Insurance Services 3 rd largest group in organized food retailing with CarrefourSA and DiaSA. Teknosa revenues reached 1.7 billion TL with 269 stores and 128 K m2 sales area Leader with 13% share in general consumer electronics market and with 43% market share amongst technology markets Teknosa reinforced its leadership in 2011 by acquiring Best Buy operations in Turkey Retail: Revenues increased by 17% and EBITDA by 70% in 2011. Aksigorta signed equal partnership agreement with the European prominent insurance company Ageas on February 2011. Insurance Services: Revenues up by 21%, EBITDA by 25%. Major Developments in 2011 - III

13. Revenues increased 12% and EBITDA increased 24%. We consider local/international expansion alternatives that will help us achieve our regional leadership objective and create additional value and synergy for our Group. Çimsa bought, 51% shares of Afyon Çimento Sanayi Türk A.Ş. for 25 million Euro (57.5 m TL) We allocate considerable resources to our sustainability projects. Sabancı Cement Group targets to invest USD 200 million over the next 5 years. We spent USD 72 M in 2011. Akçansa published the first Sustainability report (GRI approved B level) In line with energy efficiency and sustainable growth directives, Akçansa brought on line Turkey’s first Waste Heat Power Generation plant in Sept. 2011 in Çanakkale facilities. The facility will save 105 million kWh annually, 30% of the total energy consumption of the Çanakkale Plant and also reduce carbon emissions by 60,000 tons. Çimsa is preparing to bring Mersin project on line which has similar targets. Cement Major Developments in 2011 - IV

14. Industrials Achieved high capacity utilization rates in all Group Companies. Price – raw material cost margins were managed successfully. Product portfolios were improved as a part of customer oriented growth initiatives. Industrials Group revenues increased by 35%, EBITDA improved by 62%. Kordsa Global sales reached USD 1 billion. Turkish facilities broke record efficiency levels. 3 recent product commercialization from İzmit R&D center Brisa expanded its service portfolio with the acquisition of Bandag, tire coating company. First time implementation of online tire change and servicing in Turkey with www.lastik.com.tr Increased export sales and profitability by 40% and 100%, consecutively, with Lassa Temsa, launched new small coach MD9 in Europe. Company sales exceeded 1.25 B TL Sasa, completed the sales of Advansa BV. Surpassed self profitability record by managing raw material costs effectively, and high capacity utilization. Yünsa increased profitability to record levels. R&D center is operational and higher segment products introduced to the portfolio Olmuksa increased sales and geographic penetration with the integration of DS Smith company Major Developments in 2011 - V

15. To focus on target customers and markets To make strategic investments To effectively manage risks Profitable Growth To increase efficiency and achieve cost control Human Resources Innovation Technology 2012 strategies “SA”

16. We created close to 3,000 new jobs in 2011 We project to create an additional 3,000 new jobs in 2012 Retail, financial services, industrials and energy will recruit the most 40% of our workforce is white collar, 55% of which have university or post graduate degrees Women make up 34% of workforce. The ratio is 55% in financial services 66% of white collar women have university or post graduate degrees Average of 30 hours of training per person annually for HR development in our Group 162 senior managers have been subject to Sabancı Leadership Team (SALT) trainings to better prepare them for their future roles in the Group Our Group will have over 60,000 employees in 2012

17. “Sabancı” brand adds strength to our Companies Known Trust One of us Proven Sincere Strong Continuity Time saving Invest to Turkey Robust Quality Perception created by joint SA branding

18. Leading Sabancı Holding Companies reach out to a wide customer base 8 million + retail customers 926 branches, 3,695 ATM/ BTM Internet, mobile ve telephone banking TNS Piar - Miriad Banking Sector Survey Results - 2011: Akbank “First Remembered Bank” 269 stores in 72 cities Service network covering %93 of Turkey 85 million visitors A sale every 2 seconds First choice for technology product shopping 450K Facebook, 16K Twitter followers 6.6 million customers in Başkent region Most recognized private energy company with 55% brand awareness rate 532 tire sales points Bridgestone and Lassa sold tires to over 600K customers First ever tire company to provide road assistance to its consumers Lastik.com.tr - first and only web site to provide online tire services Bridgestone- highest awareness improvement amongst tire brands Lassa perceived as most sincere brand in its category 2.2 million policies 22,000 claims per month on average 1,511 Agencies; 899 Bank Branches “Top of mind” and “Most prestigious Company” in the insurance sector 1,358 stores, 601m2 sales area ~200 million customers annually 286,500 HiltonSA guests Over 350 thousand private pension insurance holders ~3,600 new participants every month 264 thousand customer interaction at Call Center per month Source: Independent Reseach Companies: Brand Equity, TNS 2010, Synovate 4Q11, IPSOS 2011, TNS PR Miriad

19. 20% increase projected in consolidated sales 19.6 22.9 27.6 18.6 Sabancı Group Companies– Consolidated Net Sales (Billion TL) %5 %17 %20 Source: Sabancı Holding, Finance

20. Sabancı Holding shareholder’s equity is expected to exceed 15 billion TL 13.1 14.0 15.6 10.9 Numbers belong to Sabancı Holding ‘s parent and they are consolidated Source: Sabancı Holding, Finance %20, %8 %11 Sabancı Group Companies– Shareholder’s Equity (Billion TL)

21. We pursue investing in projects that help Turkey grow 1.13 1.45 1.97 1.08 Sabancı Group Companies– Investments (Billion USD) %4 %29 %36 $1.33 billion Source: Sabancı Holding, Finance

22. More Sabancı Group companies will be taken public in the coming years... Expected Initial Public Offerings 2012 2013 2014 2015

23. We aim to grow our net asset value to USD 25 billion in the next 5 years $5.7 $11.1 $25.0 CAGR %14 CAGR %18 Note : Notes: Market cap value was taken for public companies in order to calculate net asset value. Net asset values in Sabanci Holding analyst reports was taken for non-public companies. Source: Sabancı Holding – Finance Sabancı Holding Net Asset Value Growth - Billion USD

24. Thank you