http://www.turkishairlines.com/tr-tr/

14 16 18 21 25

29 33

37 40

44

33 38

44 44

52 59

65 69 72

75

-

20

40

60

80

2006 2007 2008 2009 2010 2011 2012E 2013E 2014E 2015E

Domestic (*) International

RPK Growth %

Source: Boeing Current Market Outlook (2013-2032)

Source: General Directorate of State Airports Authority (DHMI). (*):Adjusted for double count on Domestic Pax

CAGR 24% CAGR 11%

Annual GDP Growth Forecast (2012-2032)

Annual RPK Growth Forecast (2012-2032)

Turkish Market Growth

2

4.5%

4.4%

4.0%

3.8%

3.4%

3.2%

2.5%

1.8%

Asia Pacific

Africa

Latin America

M.East

CIS

World

North America

Europe

6.9%

6.3%

6.3%

5.7%

5.0%

4.5%

4.2%

2.7%

Latin America

M.East

Asia Pacific

Africa

World

CIS

Europe

North America

6.0% 4.3%

2.4% -1.1%

8.5% 5.9% 5.3%

19.1% 19.2%

13.3%

17.1% 19.5%

22.9%

26.6%

-10%

0%

10%

20%

30%

2006 2007 2008 2009 2010 2011 2012

World RPK Growth THY RPK Growth

14

.0

8.2

15

.4

6.6

28

.4

5.6

24

.0

10

.0

13

.6

0.8

19

.8

7.8

25

.2

-0.5

22

.9

5.3

15

.7

3.8

18

.9

5.3

31

.4

2.6

25

.2

6.0

TK AEA TK AEA TK AEA TK AEA

2010 2011 2012 1H'13

%Change

PAX ASK RPK

Total Europe

Far East Middle East

3

Source: AEA= Association of European Airlines June’13 Results (Scheduled Traffic)

11

.4

3.0

11

.8

9.8

27

.3

2.8

32

.6

2.3

10

.4

0.0

9.5

8.0

21

.2

1.2

25

.8

0.7

10

.4

3.0

11

.9

9.7

27

.5

3.9

33

.7

3.9

TK AEA TK AEA TK AEA TK AEA

2010 2011 2012 1H'13

%Change

PAX ASK RPK

15

.8

2.7

11

.0

7.1

20

.5

2.2

25

.6

1.9

15

.2

0.0

24

.1

8.9

19

.8

1.8

21

.3

1.4

19

.0

2.6

21

.7

8.0

27

.8

4.1

26

.8

3.0

TK AEA TK AEA TK AEA TK AEA

2010 2011 2012 1H'13

% Change PAX ASK RPK

14

.7

3.1

33

.1

10

.2

25

.3

5.4

18

.0

3.2

10

.5

-0.9

45

.6

13

.7

13

.0

3.3

11

.4

1.4

20

.0

2.6

34

.0

8.7

24

.0

5.3

17

.6

2.4

TK AEA TK AEA TK AEA TK AEA

2010 2011 2012 1H'13

% Change PAX ASK RPK

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

90 100 110 120 130 140 150 160 170 180 190 200 210 220 230 240 250

Wee

kly

Flig

hts

Destinations

2006- 103

2005- 83

2004-73

2003- 65

2007 - 101

2008 - 127

2009 - 132

2010 - 158

6.833

10,4 mn pax

11,9 mn pax

14,1 mn pax 16,9 mn pax

19,7 mn pax

22,6 mn pax

2009 - 132 25,1 mn pax

2010 - 153 29,1 mn pax

2011 - 180

32,6 mn pax 2012 - 202

39 mn pax

2013 - 214 Aircraft

46,0 mn pax

2013- 234 Aircraft

4

236

İZMİR

ESKİŞEHİR

ANKARA

KONYA

ANTALYA

DENİZLİ

BODRUM

DALAMAN

NEVŞEHİR

SİVAS

KAYSERİ

ADANA

ADIYAMAN

G.ANTEP

DİYARBAKIR

MALATYA ELAZIĞ

ERZİNCAN

TRABZON

SAMSUN

ERZURUM

KARS

AĞRI

VAN

MUŞ

BATMAN

MARDİN Ş.URFA

K.MARAŞ

SİNOP

MERZİFON

HATAY

BALIKESİR

İSTANBUL İSTANBUL

IĞDIR

5

KÜTAHYA

ISPARTA

TEKİRDAĞ

EUROPE (93)

*As of June’13 Planned

(Weekly Frequency)

AMERICAS (8)

AFRICA (34)

FAR EAST (28)

MIDDLE EAST (33)

6

BUENOS AIRES (4) ATLANTA

CHICAGO (7) BOGOTA

HOUSTON (4) BOSTON

LOS ANGELES (7) CARACAS

NEW YORK (21) HAVANA

SAO PAULO (7) MEXICO CITY

TORONTO (5) MONTREAL

WASHINGTON D.C. (7) SAN FRANCISCO

ABIDJAN (4) MISRATA (7)

ACCRA (7) MOGADISHU (3)

ADDIS ABABA (7) MOMBASA (5)

ALEXANDRIA (4) NAIROBI (7)

ALGIERS (7) NIAMEY (3)

BENGHAZI (10) NOUAKCHOTT (4)

CAIRO (17) OUAGADOUGOU (3)

CAPETOWN 7) SEBHA

CASABLANCA (7) SHARM EL SHEIHK (4)

DAKAR (4) TRIPOLI (14)

DAR ES SALAAM (7) TUNIS (14)

DJIBOUTI (3) YAOUNDE (4)

DOUALA (4) ABUJA

ENTEBBE(5) ASMARA

HURGADA (3) ASWAN

JOHANNESBURG(7) BAMAKO

KIGALI (5) JUBA

KINSHASA (5) KANO

KHARTOUM (7) LUXOR

KILIMANJARO (5) NDJAMENA

LAGOS (7) LUANDA

LIBREVILLE (3) ORAN

ABU DHABI (6) ESFEHAN (2) TAIF (3)

ADEN (4) JEDDAH (21) TEHRAN (21)

ALEPPO KERMANSHAH (2) TEL AVIV (39)

AMMAN (14) KUWAIT (28) YANBU (3)

AQABA (3) MADINAH (14) EL-KASIM (4)

BAGHDAD (7) MASHAD (5) AHVAZ

BAHRAIN (7) MOSUL (4) ABHA

BASRA (7) MUSCAT (7)

BEIRUT (21) NAJAF (5)

DAMASCUS RIYADH (14)

DAMMAM (7) SANAA (6)

DOHA (10) SHIRAZ (5)

DUBAI (14) SULAYMANIYAH (5)

ERBIL(7) TABRIZ (7)

ALMATY (9) JAKARTA (7) TOKYO (7)

ASHKHABAD (14) KABUL (7) ULANBATOR (3)

ASTANA (3) KARACHI (4) KATHMANDU

BANGKOK (11) KUALA LUMPUR (4) LENKERAN

BEIJING (7) MALE (4) MANILA

BISHKEK (11) MUMBAI (7) MEZAR-I SHERIF

COLOMBO (5) NEW DELHI (7)

DHAKA (7) OSAKA (7)

DUSHANBE (2) OSH (3)

GUANGZHOU (7) SHANGHAI (7)

HO-CHI-MINH (7) SEOUL (7)

HONG KONG (6) SINGAPORE (7)

ISLAMABAD (3) TASHKENT (7)

AALBORG (3) DUSSELDORF (28) MALTA (3) SIMFEROPOL (7)

AMSTERDAM (28) EDINBURGH (7) MANCHESTER (14) SKOPJE (14)

ATHENS (25) EKATERINBURG (4) MARSEILLE (4) SOCHI (3)

BAKU (28) FRIEDRICHSHAFEN (4) MILAN (28) SOFIA (14)

BARCELONA (21) FRANKFURT (30) MINSK (4) STOCKHOLM (21)

BASEL (7) GANJA (4) MOSCOW (28) ST.PETERSBURG (4)

BATUMI (7) GENEVA (21) MUNICH (28) STUTTGART (24)

BELGRADE (14) GENOA (5) NAKHICHEVAN (4) TALLINN (3)

BERLIN (28) GOTHENBURG (12) NAPOLI (7) TBILISI (21)

BILBAO (4) HAMBURG (28) NICE (10) THESALONIKI (7)

BILLUND (3) HANNOVER (17) NOVOSIBIRSK (3) TIRANA (14)

BIRMINGHAM (10) HELSINKI (14) NURNBERG (18) TORINO (7)

BOLOGNA (14) KAZAN (4) ODESSA (11) TOULOUSE (7)

BREMEN (7) KIEV (13) OSLO (14) UFA (5)

BRUSSELS (30) LEFKOSA (35) PARIS (28) WARSAW (4)

BUCHAREST (21) LEIPZIG (7) PODGORICA (7) VALENCIA (5)

BUDAPEST (14) LISBON (7) PRAG (14) VENICE (21)

CHISINAU (7) LJUBLJANA (7) PRISTINA (14) VIENNA (28)

COLOGNE (21) LONDON (45) RIGA (6) VILNIUS (3)

CONSTANTA (3) LUXEMBOURG (4) ROME (25) ZAGREB (10)

COPENHAGEN (21) LVIV (3) ROSTOV (3) ZURICH (28)

DONETSK (7) LYON (14) SANTIAGO DE COMPOSTELA(3) KHARKIV

DNEPROPETROVSK (7) MADRID (20) SALZBURG (4) KRAKOV

DUBLIN (10) MALAGA (7) SARAJEVO (18) LA CORUNA

NANTES ROTTERDAM

7

168 out of 196 international destinations within narrow body range

More than 40% of world-wide international traffic within narrow body range

THY ranks

3rd in passenger; 4th in ASK and

5th in RPK

among European Airlines

Source: AEA= Association of European Airlines (Scheduled Traffic) June’13 Results

8

3.7% 3.9% 4.2%

5.6%

6.3%

7.2%

8.5% 10.0%

3.3% 3.7% 4.1%

5.2%

6.0%

6.8%

8.4%

10.0%

4.8% 5.2%

6.1%

7.5% 8.2%

8.7%

10.3%

12.4%

0%

2%

4%

6%

8%

10%

12%

14%

2006 2007 2008 2009 2010 2011 2012 1H'13

ASK % RPK % PAX %

Int’l to int’l transfer passengers’ share in total international passengers was 39% in 2012.

38%

9

12,673 16,483

2011 2012

Total Transfer Passengers

30%

Int'l-Int'l Transfer

23%

Int'l-Dom Transfer

16%

Int'l Direct 20%

Domestic 41%

1,801

2,487

1,563

2,229

3,129

4,445

5,147

6,249

8,976

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

2006 2007 2008 2009 2010 2011 2012 1Q'12 1Q'13

('0

00

)

THY Passenger Traffic First Half

2012 vs 2013

Landing up by 22.7%

ASK up by 21.3%

RPK up by 26.8%

Passenger # ('000) up by 25.8%

L/F up by 3.4 pt

10

ANNUAL CHANGES 2006 2007 2008 2009 2010 2011 2012 ASK (%) 24 13 11 22 15 25 18 RPK (%) 19 19 13 17 19 23 26 PAX (%) 20 16 15 11 16 12 20 L/F (Pt) -2.8 4.0 1.2 -3.0 2.8 -1.0 4.8

41

.6

46

.3

56

.6

65

.1

81

.2

96

.1

44

.6 54

.1

30

.3

34

.3

40

.1

47

.9

58

.9

74

.4

33

.7

42

.7

72.7

73.9

70.9

73.7 72.6

77.4 75.5

78.9

40

50

60

70

80

0

20

40

60

80

100

120

2007 2008 2009 2010 2011 2012 1H'12 1H'13

(%)

ASK RPK L/F %

19.6 22.6 25.1 29.1

32.6 39.0

17.8 22.4

2007 2008 2009 2010 2011 2012 1H'12 1H'13

Total Passengers (Mn)

23%

Domestic (Bn) International (Bn)

28%

Domestic Passengers (Mn)

11

International Passengers (Mn)

8.1

8.5

9.0

10

.4

11

.2

12

.0

5.6

6.9

5.9

6.4

6.8

8.0

8.6

9.5

4.4

5.6

73.0 75.6 75.4

76.7 76.9 78.8 78.7

80.8

40

50

60

70

80

90

0

2

4

6

8

10

12

2007 2008 2009 2010 2011 2012 1H'12 1H'13

(%)

ASK RPK L/F%

33

.5

37

.9

47

.5

54

.7

70

.0

84

.1

38

.9 47

.2

24

.3

27

.8

33

.3

39

.9

50

.3

64

.9

29

.2

37

.1

72.6 73.6

70.1

73.1 71.9 77.2 75.0

78.6

40

50

60

70

80

0

20

40

60

80

100

2007 2008 2009 2010 2011 2012 1H'12 1H'13

(%)

ASK RPK L/F (%)

10.0 11.1 11.7 13.6 14.5

15.9

7.4 9.1

2007 2008 2009 2010 2011 2012 1H'12 1H'13

9.7 11.5

13.4 15.5

18.2

23.1

10.4 13.3

2007 2008 2009 2010 2011 2012 1H'12 1H'13

* After exit/delivery

12

Type Total Owned Financial Opr. Seat Avg.Fleet YEAR END FLEET*

Lease Lease Capacity Age 2013 2014 2015 2016 2017 2018 2019 2020 2021

Wide Body

A330-200 7 5 2 1,812 8.3 10 10 10 10 8 8 5 5 5 A330-300 10 10 2,890 2.2 12 17 25 30 30 30 30 30 30 A340-300 7 7 1,890 17.2 7 7 7 7 7 7 7 7 7 B777-3ER 12 10 2 4,044 2.4 12 15 22 28 32 32 32 32 32 Wet Lease 2 2 286 6.4 3 Total 38 7 25 6 10,922 6.3 44 49 64 75 77 77 74 74 74

Narrow Body

B737-900ER 10 10 1,510 1.2 10 10 15 15 15 15 15 15 15 B737-9 MAX 5 10 10 B737-800 68 11 36 21 11,264 8.4 70 77 76 94 93 82 82 78 78 B737-8 MAX 20 30 55 65 B737-700 14 14 1,986 7.3 13 8 2 A320-200 30 13 17 4,682 6.4 33 33 30 30 23 19 12 12 12 A321-200 39 36 3 6,850 3.1 41 41 54 64 66 66 66 66 64 A320 NEO 4 4 4 4 4 4 A321 NEO 4 31 56 88 88 A319-100 14 6 8 1,854 5.2 14 12 12 12 9 7 6 6 6

Wet Lease Total 175 11 101 63 28,146 6.1 181 181 189 219 214 244 276 334 342

Cargo

A310-300 3 2 1 - 24.9 2 2 2 2 2 2 2 2 2 A330-200 4 4 - 1.7 5 5 5 5 5 5 5 5 5 Wet Lease 3 3 - 8.1 2 Total 10 2 4 4 - 11.6 9 7 7 7 7 7 7 7 7

TOTAL 223 20 130 73 39,068 6.4 234 237 260 301 298 328 357 415 423 Year End Seat Capacity : 43,018 44,533 50,783 59,096 59,375 64,674 69,206 79,022 80,176

Seat Capacity Change : 18% 4% 14% 16% 0% 9% 7% 14% 1%

13

2013-2021 Aircraft Purchases

Fleet Group Fleet Type 2013* 2014 2015 2016 2017 2018 2019 2020 2021 TOTAL

Wide Body

A330-300 2 5 8 5 20

B777-3ER 3 7 6 4 20

Total 2 8 15 11 4 40

Narrow Body

B737-900 5 5

B737-9 MAX 5 5 10

B737-800 10 20 30

B737-8 MAX 20 10 25 10 65

A321 1 13 10 24

A320 NEO 4 4

A321 NEO 4 27 25 32 88

Total 1 10 18 34 6 47 40 62 10 228

Cargo A330-200 1 1

Total 1 1

TOTAL 4 18 33 45 10 47 40 62 10 269 * Remaining as of June’13

Europe 32%

Far East 22%

Domestic 14%

Middle East 14%

America 10%

Africa 8%

Revenue Breakdown Revenue* Breakdown by Geography

* Scheduled pax and cargo revenue

14

Int’l. Passenger Breakdown by Geography

PAX 86%

Cargo 8%

Other 5%

Charter 1%

Europe 60%

Middle East 15%

Far East 12%

Africa 8% America

5%

775 904 1,427 990 1,406

2,395 2,881 1,369 1,604 570 782

909 782

1,141

1,339 1,378

692 766 1,428

1,662

1,812 2,286 2,602

3,136 3,475

1,614 1,981

0

2,000

4,000

6,000

8,000

10,000

2006 2007 2008 2009 2010 2011 2012 1H'12 1H'13

Fuel Personnel Other

2,773 3,348

4,148 4,058

5,149

6,855 7,734

3,676 4,351

168 439 545 513 670 931 1031 557 655 606 818 992 885 985

1061 1117

501 599

2,059 2,480

3,182 3,154 3,793

5,078 6,171

2,667 3,298

0

2000

4000

6000

8000

10000

2006 2007 2008 2009 2010 2011 2012 1H'12 1H'13

Other* Domestic International

2,883

3,737

4,719 4,552

5,448

7,070

8,319

3,726 4,552

Revenue (Mn$) Expenses (Mn$)

* Cargo, charter and other revenue

15

22% 18%

Cost Per ASK ($ cent)

16

7.51 8.04

8.95

7.17

7.91 8.44

8.03 8.24 8.04

1.54 1.88 1.96

1.61 1.75 1.65 1.42 1.55 1.42

2.10 2.17

3.08

1.75

2.16 2.95

3.00 3.07 2.96

3.87 3.99 3.91 3.81 4.00 3.84 3.61 3.62 3.66

0.0

2.0

4.0

6.0

8.0

10.0

2006 2007 2008 2009 2010 2011 2012 1H'12 1H'13

CASK Personnel/ASK Fuel/ASK Others /ASK

12:31

13:26 12:49

13:20 13:18

14:21 14:19 14:59

11:00 11:32 11:40 11:55

11:20 11:48 11:45

12:07 11:13

11:40 11:39 12:02

11:40 12:14 12:11

12:36

2007 2008 2009 2010 2011 2012 1H'12 1H'13

WB Long-Haul NB Medium Haul Total

1,5

16

1,6

06

1,6

44

1,7

01

1,8

26

2,1

84

1,0

24

1,1

22

2007 2008 2009 2010 2011 2012 1H'12 1H'13

12

,95

1

14

,07

2

15

,26

9

17

,11

9

17

,87

6

17

,87

9

17

,39

1

19

,96

5

2007 2008 2009 2010 2011 2012 1H'12 1H'13

Passenger per Employee

* THY Technic Personnel is included.

Average Daily Flight Utilization (hrs)

10%

17

Number of Personnel* 15%

18

($ Mn) 1H'12 % in Total 1H'13 % in Total 13/'12 %

Fuel 1,369 37% 1,604 37% 17%

Personnel 692 19% 766 18% 11%

Landing 291 8% 371 9% 27%

Depreciation 240 7% 321 7% 34%

Sales and Marketing 253 7% 304 7% 20%

Ground Handling 217 6% 261 6% 21%

Passenger Catering 162 4% 206 5% 27%

Rents 136 4% 209 5% 53%

Maintenance 111 3% 135 3% 21%

Others 63 2% 52 1% -17%

Codeshare 55 2% 19 0% -65%

Advertising 35 1% 49 1% 41%

General Administration 25 1% 35 1% 42%

Insurance 26 1% 18 0% -31%

TOTAL 3,676 100% 4,351 100% 18%

Op.Cost per ASK ($) 8.24 8.04 -2%

Op.Cost per ASK ($) except fuel 5.17 5.08 -2%

15.9

22.3 20.2

22.9

16.5 14.1

17.5

11.5 16.1

0

10

20

30

2006 2007 2008 2009 2010 2011 2012 1H'12 1H'13

AVG (2006-2012):18,5%

19

(Mn$) 2006 2007 2008 2009 2010 2011 2012 1H'12 1H'13

Revenue 2.834 3.737 4.719 4.552 5.448 7.070 8.319 3.726 4.552

Net Income 125 204 874 362 185 11 644 96 67

Net Income Margin (%) 4,4 5,5 18,5 7,9 3,4 0,2 7,7 2,6 1,5

EBIT 60 389 571 494 299 215 597 50 201

EBIT Margin (%) 2,1 10,4 12,1 10,8 5,5 3,0 7,2 1,3 4,4

EBITDA 297 670 792 795 596 701 1.171 290 522

EBITDA Margin (%) 10,5 17,9 16,8 17,5 10,9 9,9 14,1 7,8 11,5

EBITDAR 451 834 954 1.044 901 998 1.468 427 731

EBITDAR Margin (%) 15,9 22,3 20,2 22,9 16,5 14,1 17,6 11,5 16,1

Expenses by Currency

20

Revenue by Currency

USD 53%

TL 26%

EUR 13% Other

8%

EUR 42%

Other 29%

USD 17% TL

13%

21

50% 48%

46% 44%

42% 40%

38%

35% 33%

31% 29%

27% 25%

23% 21%

19% 17%

15% 13%

10% 8%

6% 4%

2%

0%

10%

20%

30%

40%

50%

60%

M+1

M+2

M+3

M+4

M+5

M+6

M+7

M+8

M+9

M+1

0

M+1

1

M+1

2

M+1

3

M+1

4

M+1

5

M+1

6

M+1

7

M+1

8

M+1

9

M+2

0

M+2

1

M+2

2

M+2

3

M+2

4

Turkish Airlines Fuel Hedging Rate

Maximum Fuel Hedge Level: 50% Active Surcharge Policy

30% 29%

28% 26%

25% 24%

23% 21%

20% 19%

18% 16%

15% 14%

13% 11%

10% 9%

7% 6%

5% 4%

2% 1%

0%

10%

20%

30%

40%

50%

60%

M+1

M+2

M+3

M+4

M+5

M+6

M+7

M+8

M+9

M+1

0

M+1

1

M+1

2

M+1

3

M+1

4

M+1

5

M+1

6

M+1

7

M+1

8

M+1

9

M+2

0

M+2

1

M+2

2

M+2

3

M+2

4

Turkish Airlines Currency Hedging Rate

Short position on USD and TRY is hedged

EBITDAR Margin % Comparison

*Lufthansa Passenger Airlines. Others based on Group Financials.

Source: Calculated based on web site & annual reports.

22

19.0 17.6

15.7

9.9 9.4 8.3 8.2 6.9 6.4

EK TK SQ AY AF-KL LH* IAG UA SAS

2012 Annual

2013 1H

16.1

12.4 11.4 9.7

7.0 7.0 6.6 5.2 4.5

TK LATAM DL UA SAS AF-KL AY LH* IAG

PAX Per Personnel

2012 Annual

Cost Per ASK ($ Cent) 2013 1H

THY is the most cost efficient among its European Peers

**LH is based on airlines business only. Others based on Group Financials.

23

2,184 1,866 1,740 1,660

927 917 826 773 769

TK LH** SAS UA SQ IAG EK AY AF-KL

* LH is based on airlines business only. Others based on Group Financials.

** April-June 13, 1st quarter results

** * April’12-March’13, 12M results

4.7 3.6 3.39 3.8

2.1 2.8 1.7 1.4 1.04 1.4 1.0

3.4 5.1 4.33 3.4

3.3 3.5

2.9 3.5 3.20 3.0

1.6

8.2

6.5 7.4

5.4 6.8 4.7 5.9 4.2

3.8 3.7

2.1

SAS UA DL AF-KL LH* IAG AY SQ** EK*** TK LAN

Others/ASK Fuel/ASK Personnel/ASK

15.1 15.1

12.6 12.2

11.0 10.5

9.2

4.7

8.1 8.0

16.3

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Winner of 3 awards at the 2013 Skytrax World Airline Awards:

› Best Airline Europe

› Best Business Class Catering

› Best Airline in Southern Europe

The only 4 Star Airline in all categories in Europe

The Best in Europe in the last 3 years

THANK YOU

Mr. Coşkun KILIÇ, CFO Tel: +90 (212) 463-6363 x-13630

Ms. Duygu İNCEÖZ, IR Manager E-Mail: ir@thy.com

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Assets ( Mn$) 2006 2007 2008 2009 2010 2011 2012 1H'13

Cash and Equivalents 260 412 1.288 871 581 934 1,070 1,374

Trade Receivables 177 211 231 295 374 405 436 667

Other Current Assets 318 654 214 693 1.304 802 691 402

Total Current Assets 755 1.277 1.733 1.858 2.259 2.140 2,197 2,443

Net Fixed Assets 2.196 2.777 3.343 3.195 4.168 5.873 7,121 7,773

of which Aircraft and Engines 1.941 2.414 3.046 2.914 3.822 5.319 6,392 6,915

Other Non-Current Assets 194 169 155 638 462 672 1,227 1,472

Total Non-Current Assets 2.400 2.949 3.499 3.834 4.629 6.545 8,348 9,245

Total Assets 3.155 4.226 5.231 5.692 6.888 8.685 10,545 11,688

Liabilities (Mn$) 2006 2007 2008 2009 2010 2011 2012 1H'13

Lease Obligations 1.183 1.541 2.127 1.985 2.703 4.189 4,862 5,222

Passenger Flight Liabilities 229 326 322 390 436 677 936 1,546

Accounts Payable 226 313 288 371 476 461 512 625

Other Liabilities 372 460 519 659 850 976 1,204 1,266

Total Liabilities 2.010 2.640 3.256 3.404 4.464 6.303 7,513 8,659

Total Shareholders Equity 1.145 1.587 1.975 2.288 2.424 2.382 3,032 3,029

of which Issued Capital 125 150 116 581 647 635 673 717

of which Retained Earnings -443 -280 0 613 910 971 969 1,525

Total Liabilities & Shareholders Equity 3.155 4.226 5.231 5.692 6.888 8.685 10,545 11,688

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Income Statement (Mn$) 2006 2007 2008 2009 2010 2011 2012 1H'12 1H'13 13/12%

Operating Revenue 2,834 3,737 4,719 4,552 5,448 7,070 8,319 3,726 4,552 22%

Operating Expenses 2,773 3,348 4,148 4,058 5,149 6,855 7,722 3,676 4,351 18%

of which Fuel 775 904 1,427 990 1,406 2,395 2,881 1,369 1,604 17%

of which Personnel 570 782 909 912 1,141 1,339 1,366 692 766 11%

of which Depreciation 236 281 221 302 297 486 575 240 321 34%

of which Rent 154 164 162 249 305 297 297 136 209 53%

Operating Profit 60 389 571 494 299 215 597 50 201 302%

Income From Other Operations 193 174 44 59 92 96 335 77 83 7%

Loss From Other Operations 42 8 162 84 79 237 24 43 41 -6%

Profit from Operating Activities 211 556 453 468 312 73 907 84 243 190%

Income From Investment Activities 18 16 -12%

Share of Investments' Profit (Loss) 12 3 8 -24 6 3 -5 -3 36%

Financial Income 238 1,100 112 47 158 90 65 20 -69%

Financial Expense 79 520 550 112 99 150 231 72 148 105%

Profit Before Tax 132 285 1,006 477 237 87 769 89 128 43%

Tax 7 81 132 115 51 76 125 7 -61 -1031%

Net Profit 125 204 874 362 185 11 644 96 67 -30%

TURKISH CARGO

Revenue (Mn$)

› Leading cargo carrier in total export and import cargo in Turkey.

› As of June 2013, operates 45 destinations with 10 cargo aircraft and 234 destinations with 213 passenger aircraft.

› By the end of June 2013, THY carried 263.233 tons of cargo, indicating 15% increase compared to the same period of 2012.

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18%

221 246 294 286 405

578 673

325 382

2006 2007 2008 2009 2010 2011 2012 1H'12 1H'13

› Regional Training Partner for IATA & IATA Authorized Training Center.

› Provides training services for about 20.000 people each year

› Currently has 46 instructors with 40 classrooms.

› Provides training services in these areas:

› Technical (Theoretical and Practical)

› Commercial and Ground Handling

› Quality and Management Trainings

› Marketing and Sales Trainings

› Computer and IT Trainings

› SAP Trainings

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Turkish Airlines Flight Training Center

Offers Cockpit Crew Training , Cabin Crew Training, Ground Training and Simulators with:

› 6 full Flight Simulators for B737 800s, A320s, B777- 300ER, A330/340 aircraft

› 1 FNPT II MCC

› 4 Flight Training Devices for A320, A330/340, B737-800 and B777

› 1 A320 Door Trainer, 1 B777 Door Trainer

› A340 ”Business class”, B737 “Economy Class” Cabin Service Trainer (CST)

› B737/A310/A320/A340 Cabin Emergency Evacuation Trainer(CEET)

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* THY A.O. Personnel

THY Group Revenue (Mn $)

Personnel THY Rev. % Partnership Structure (1H'13)

1 THY (Consolidated) 4,552 17.941* - %49 ÖİB - %51 Open to Public

2 Turkish Opet Aviation Fuels 1,121 227 85% %50 THY - %50 Opet

3 THY Turkish Technic 229 2,024 72% % 100 THY

4 THY Turkish Do&Co 152 3,268 87% %50 THY - %50 Do&Co

5 Turkish Ground Services 110 7,956 80% %50 THY - %50 Havaş

6 Pratt Whitney THY Turkish Engine Center (TEC) 50 207 78% %51 PW - %49 THY

7 HABOM Aviation Maintenance, Repair and Modification Center 11 1,491 100% % 100 THY

8 Goodrich Turkish Airlines Technical Service Center 3 22 38% %60 Goodrich - %40 THY Teknik

9 Turkish Cabin Interior Systems Industries, Inc. - 60 0% %30 THY - %21 THY Teknik - %49 TAI

10 Turkbine Technical Gas Turbines Maintenance & Repair, Inc. 0.1 19 - %50 THY Teknik - %50 Zorlu O&M

11 Aircraft Seat Manufacturing Industry & Trade, Inc. - 22 0% THY & THY Teknik %50-Assan Hanil %50

12 Sun Express (Turkey & Germany Consolidated) 445 2,507 - %50 THY - %50 Lufthansa

13 THY Aydın Çıldır Airport Management, Inc. 0 - - %100 THY

14 THY Aviation Maintenance, Repair and Modification Center 25 809 3% % 100 THY

Turkish Technic

› Owned 100% by THY.

› Provides maintenance services to more than 100 customers, including international airlines such as Lufthansa, KLM, BA and Alitalia as well as domestic airlines.

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HABOM (Maintenance Repair & Overhaul Center)

› Plans to provide maintenance service to around 400 aircraft yearly, as well as training and other services to civil aviation industry in Turkey and its region.

› The facility, designed according to LEED Gold standards, will be located in Sabiha Gokcen International Airport in Istanbul with a total investment of nearly 500 mn$.

› HABOM is expected to be in full capacity starting from the second half of 2013 and gradually by the year 2022. Expected full capacity revenue is around 6.5 bn$ .

Turkish Engine Center

› Provides engine maintenance, repair and overhaul (MRO) services to customers located in Turkey, surrounding regions and worldwide.

› The environmentally efficient engine overhaul facility has total usage area of 100,000 sq. meters located at the Sabiha Gokcen International Airport.

Goodrich THY Technic Service Center

› Provides repair, overhaul and modification services for Nacelle, Thrust Reverser, and its components; for Turkish Airlines and other customers from Turkish domestic and International markets.

› The 4.000 sq meters (indoor) facility is located in Gebze Organized Industrial Zone

TGS Ground Services

› Owned 50% - %50 by THY and Havaş Havaalanları Yer Hizmetleri A.Ş.

› Provides ground services to Turkish Airlines since the beginning of 2010, currently at eight major airports in Turkey: Istanbul (Ataturk and Sabiha Gokcen), Izmir, Ankara, Antalya, Adana, Bodrum, Dalaman.

Turkish OPET

› In terms of investment on jet fuel supply; Turkish Airlines established a jet fuel supply company together with local oil retailer OPET on September 2009.

› The business activity of the established company is to supply jet fuel to any type of aircraft.

› Started supplying jet fuel to THY for all domestic airports as of July 1st 2011.

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Turkish Do&Co

› Since 2007, operating nine gourmet kitchens all over Turkey: Istanbul (Atatürk and Sabiha Gökcen), Ankara, Antalya, Izmir, Bodrum, Trabzon, Dalaman and Adana. Over 60 national and international airlines are catered from these locations.

› Turkish Airlines won the “Best Business Class Catering’’ award at the 2013 Skytrax World Airline Awards and “World's Best Economy Class Onboard Catering’’ award at the 2010 Skytrax Awardswith Turkish Do&Co.

Sun Express Turkey

› Founded in October 1989 as a 50% - 50% subsidiary company of Lufthansa and Turkish Airlines.

› Market leader in charter flights between Germany and Turkey.

› Flies to/from 21 airports in Germany, 18 in Turkey and 39 in other countries.

› Operates with 21 B737-800 aircraft with total seat capacity of 3.969 as of June 2013.

› Carried 2,511,251 passengers with 80.8% load factor by the end of the first half of 2013.

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This presentation is confidential and does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Turkish Airlines A.O (the “Company”) or any member of its group nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of the Company or any member of its group nor shall it or any part of it form the basis of or be relied on in connection with any contract, investment decision or commitment whatsoever. This presentation has been made to you solely for your information and background and is subject to amendment. This presentation (or any part of it) may not be reproduced or redistributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person (excluding the relevant person’s professional advisers) or published in whole or in part for any purpose without the prior written consent of the Company.

This presentation includes forward-looking statements. These forward-looking statements include all matters that are not historical facts, statements regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the Company’s results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which the Company operates.

By their nature, forward-looking statements involve risks and uncertainties, including, without limitation, the risks and uncertainties set forth in the Company’s Offering Memorandum, because they relate to events and depend on circumstances that may or may not occur in the future. The Company cautions you that forward-looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements contained in this presentation. In addition, even if the Company’s results of operations, financial condition and liquidity and the development of the industry in which the Company operates are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in future periods. The Company does not undertake any obligation to review or confirm analyst expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this presentation.

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