Petkim Petrochemical Holding Corp.

Presentation to Analysts

23-24 September 2010

AGENDA

1 I World Economy & Petrochemical Industry

2 I A Glance at Petkim

3 I Investments

4 I Growth Plans and Strategies

5 I Key Financials

2

-2,4-4,1

-5,2

3,3 2,4

9,1

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-4,7 -3,6-7,9

5,7

1

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9,4

7,1 6,1

2

10

3,6 3,42,91,3

1,84,1

9,68,4

4,2

US EU Japan Russia China India Brazil Turkey C&EE

2009

2010

2011

2009 2010 2011

Advanced Econ. -3,2 2,6 2,4

Emerging Econ. 2,5 6,8 6,4

World Economy & Petrochemical Industry

0

200

400

600

800

1.000

1.200

Oca.06 Oca.07 Oca.08 Oca.09 Oca.10 Oca.11

Fiya

tlar (

$/M

T)

-100

-50

0

50

100

150

200

Mar

jlar (

$/M

T)

Nafta-Ham Petrol Ham Petrol (Brent) Benzin (CIF NWE) Nafta (CIF NWE)

SLIGHT RECOVERY IS OBSERVED BEGINNING FROM THE SECOND HALF OF 2009. MODEST GROWTH IS OBSERVED IN 2010.

DUE TO THE CRISIS GROWTH RATESDECELERATED IN ALMOST EVERY REGION OF THE WORLD. BUT RECOVERY IS EXPECTED FOR 2010

THE ICIS PETROCHEMICAL INDEX ROSE TO 299 IN JUNE 2010, A GAIN OF %90 OVER THE FEBRUARY READING OF 157.

RECOVERY IS EXPECTED IN OPERATING RATES AS GLOBAL DEMAND IMPROVES.

Source: IMF, World Economic Outlook(WEO), September 2010

150

200

250

300

350

400

Mar.05 Oct-05 May.06Dec-06 Jul-07 Feb-08 Sep-08 Apr-09 Nov-09 Haz.10

ICIS Petrochemical Index (IPEX)*

%90

Global Basic Chemicals and EBIT ContributionDollars Per Metric Ton

Crude Oil Naphtha Gasoline Price Expectations

3

World Economic Growth Rate (%)Economic Growth in Selected Economies (%, yoy) Regional & World Ethylene Operating Rates (%)

OIL PRICES ARE EXPECTED TO REMAIN BETWEEN USD 75-85 RANGE IN 2010. NAPHTHA AND GASOLINE PRICES ARE EXPECTED TO FOLLOW CRUDE OIL.

* An indicator of average change in world petchem prices for basket of 12 essential petchem products in US, WE and Northeast Asian markets

Source: CEFIC Source: CMAI

Source: CMAI

Source: CMAI

Source: CMAI

FUTURE EARNINGS ARE EXPECTED TO STRENGHTEN WITH THE CONSOLIDATION, M&A IN INDUSTRY AND SUCCESSFUL ECONOMIC STIMULUS

World North Asia South Asia India

AGENDA

1 I World Economy & Petrochemical Industry

2 I A Glance at Petkim

3 I Investments

4 I Growth Plans and Strategies

5 I Key Financials

4

PETKİM

5

ETHYLENE

C4

NAPHTHA-LPGPROPYLENE

AROMATICS

ETHYLENE

C4

NAPHTHA-LPGPROPYLENE

AROMATICSETHYLENE

Petrochemicals from Naphtha

6

LDPEBags, greenhouse covers, film, cables, toys, pipes, bottles, hoses, packaging

HDPEPackaging film, construction andwater pipes, bottles, soft drinkcrates, toys, jerry cans, barrels

MEGPolyester fiber, polyester film, antifreeze

VCM - PVC - EDCPipes, window and door frames, blinds and shutters, cables, bottles,construction materials, packagingfilm, floor tiles, serum bags

CA-CAUSTIC SODATextile, detergent

PROPYLENE

PPKnitting yarn, sacks, carpet thread, ropesand hawsers, tablecloths, napkins,doormats, felt, hoses, radiator pipes, fishingnets, brushes, blankets

ACNTextile fibers, artificialwool, ABS (AcrylonitrileButadiene Styrene) resins

C4BUTADIENERubberAutomobile tire

AROMATICS

BENZENE, TOLUENE

Detergent, white goods, Solvents, explosives, pharmaceuticals, cosmetics

O-X - PAPigments, plasticizers, synthetic chemicals, polyester

P-X - PTAPolyester fiber, polyester resin, polyester film

Company Overview• Established in 1965/Second complex commissioned in 1985• The sole petrochemical producer in Turkey• 25% domestic market share and well positioned assets in

an ever growing market• USD 921 mn net sales (H1 2010)• USD 68 mn EBITDA (H1 2010)

• 15 main plants, 8 auxiliary units• Located in Aliağa near Izmir• Sits on a land of 19 mn sqm• Harbour, water dam, power generation unit (226 MW)• Adjacent to Tüpraş Aliağa Refinery

PETKİM

FACILITIES

MAIN FEEDSTOCKPRODUCTS

PRODUCTION

• Naphtha, LPG, C4, Condensate• Main product goups: olefins, polyolefins, vinyl

chain, aromatics and other basic chemicals

• 1.564 th. tons of gross production realized in H1 2010• Realized capacity utilization rate of 95,4% (planned as

96% in 2010)

7

90

110

130

150

170

190

210

Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10PETKİM ISE 100

Petkim’s Ownership Structure

Share Information (30 July 2010)

Stock Price Performance

Ownership Profile

Privatization process was completed in May 2008. SOCAR&Turcas Consortium acquired 51% stake in Petkim at an amount of USD

2.04 bn.

Closing Price (TRY/Share) 2,19Market Cap (mn TRY) 2.190Market Cap (mn $) 1.456

Free Float (%) 38,7

Source: Reuters

Source: Reuters

Strong Performance

8

Free Float38,7%

SOCAR Turcas 51,0%

PA10,3%

Petkim: The Strong & Tangible Symbol of Economical & Strategical Partnership

TURCAS is the first privately-ownedpetroleum company in Turkey focusingon distrubution of oil products andenergy investments through itsinternational strategical partnerships

SOCAR, with large-scale investments in Azerbaijan is one of the world’s oldestpetroleum companies. SOCAR is a shareholder and major supplier of the 50 million ton capacity BTC crude oilpipeline and the BTE natural gaspipeline, which transports 6,6 billioncubic meters of natural gas to Turkey

PETKİMA BRIDGE LINKING AEGEAN TO CASPIAN

9

Products and Capacity

PETKIMALIAGA COMPLEX

START-UP 1985

TOTALCapacity 1,916,000 ton/yr

Other Products1

Capacity 954,000 ton/yr

Fiber Raw MaterialsCapacity 249,000 ton/yr

ThermoplasticsCapacity 713,000 ton/yr

1 Ethylene (520,000), VCM (152,000), PA (34,000), Chlorine (100,000), Benzene (134,000), MB (10,000), Plastic Products (4,000)

ETHYLENE 520 PROPYLENE 240C4 140 PY-GAS 390AROMATICS 320

BENZENE 134P-X 136O-X 50

CHLORINE 100VCM 152PVC 150LDPE 323 HDPE 96PP 144 MEG 89ACN 90PTA 70PA 34Power (MW) 226

Product Capacities(thousand tons)

PLANT CAPACITIES

10

LDPE20%

PVC10%

Benzene10%

PP9%

C49%

ACN6%

PY-GAS1%

Costic5%

C54%

Other2%

PTA5%

MEG5%

PA3%

P-X6%

HDPE5%

385379390

764685

1.4421.3911.371

0

200

400

600

800

1000

1200

1400

1600

2007 2008 2009 H1 09 H1 10 Q2 09 Q1 10 Q2 10

470451560

1.342

1.7951671

333

921

0200400600800

100012001400160018002000

2007 2008 2009 H1 09 H1 10 Q2 09 Q1 10 Q2 10

Petkim: Production & Sales

Net Sales (thousand tons)

Breakdown of Sales Volume H1 2010

Net Sales (million USD)

Breakdown of Sales Revenues H1 2010

11

LDPE26%

ACN11%

PP11%

PVC9%

Other9%

MEG4%

Benzene8%

PY-GAS0%PA

3%

P-X5%

PTA4%

C53%

Costic1%

HDPE6%

217

358

523

347

129

234

84 113 121

410

0

100

200

300

400

500

600

2005 2006 2007 2008 2009 H1 09 H1 10 Q2 09 Q1 10 Q2 10

EU Countries

46%USA11%

Asia-Far East30%

Others7%

Mid-East, Africa

6%

Petkim: Exports

Breakdown of Exports Revenues by Product Type H1 2010

Breakdown of Exports by Region H1 2010

Exports Revenues by Years (million USD)

C424%

LDPE15%

MEG4%

P-X4%

Other8%

PVC2%

ACN9%

PTA2%

Benzene32%

• Petkim products are exported to nearly 60 different countries

• Benzene, C4, LDPE, Py-Gas and P-X are the mainexports products.

• The second exporter in chemical industry in Turkey in 2009.

• Share of export in total sales H1 2010 is 25%

12

68

35 2939

-4

99

54

-5

15

35

55

75

95

115

2008 2009 H1 09 H1 10 Q2 09 Q1 10 Q2 10

Petkim: Product Prices & Cost Breakdown

50

100

150

200

250

Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10

Thermoplastics Naphtha

Others9,8%

Labour6,4%

Energy9,1%

Raw Materials

74,7% 0

500

1000

1500

2000

Jan-08 Jul-08 Jan-09 Jul-09 Jan-10

Naphtha Unit Price

Petkim Thermoplastics and Naphtha Price Changes

Raw Material and Product Prices (USD/ton)Raw Material and Product Prices (USD/ton)*

Cost Breakdown*

0

250

500

750

1.000

1.250

1.500

1.750

LDPE HDPE PP MEG PVC

Naphtha Cost Product Prices

Petkim EBITDA Performance (million USD)

* As of June 2010

13

Index (2007 January=100)

0

100

200

300

400

500

600

2001 2002 2003 2004 2005 2006 2007 2008 20090

1000

2000

3000

4000

5000

6000

7000Marketable Production Per Capita (ton) (Left Axis)# of Employees (Right Axis)

Petkim: A Remarkable Turnaround Driven by Operational Efficiencies

Efficiencies on Marketable Production Per Capita

• Feedstock flexibility (switching from Naphthato LPG/C4)

• Fuel flexibility in power generation

• Maximization of capacity utilitization (95%)

• Restructuring and rejuvenation of labor force• Initiatives for energy efficiencyimprovement

• Process optimization(APC, DCS implementation) • Increasing trading opportunities

Person

14

W. Europe Ethylene Capacity Utilitization Rates

6065707580859095

100105110

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2008 2009 2010

Petkim Ethylene Capacity Utilitization Rates (%)

Low capacitydue to incidental shut-down

AGENDA

1 I World Economy & Petrochemical Industry

2 I A Glance at Petkim

3 I Investments

4 I Growth Plans and Strategies

5 I Key Financials

15

Capital Expenditures and Planned Capacity Increases• Moderate gearing of capital investments instead of fully

financing with equity as it has been in the past• Increasing capacities of existing plants with minor capex-

smart debottlenecking investments

• Maximizing production of LDPE, where Petkim has a competitive advantage

• Optimizing processes in the plants ( implementation of Advanced Process Control and Distributed ControlSystems)

• Investments to enhance egergy savings and operationalefficiencies on existing plants (such as rehabilitation workfor the furnaces of the aromatics plant)

72

50

78

154

6656

46

74

54

0

2040

60

80

100120

140

160

2002

2003

2004

2005

2006

2007

2008

2009

2010

P

Capital Expenditures of Petkim (million USD)

16

Ethylene 520 67 587 2012LDPE-T 133 27 160 2011 PA 34 15 49 2012 PTA 70 35 105 2012

Planned Capacity Increases (th ton)

Plants Current Additional After DateCapacity Cap Increase Cap Increase

Investment HighlightsPETKIM

Dominant producer25% market share

1998-2009 CAGRThermoplastics demand 6,5%GDP growth 3,0%

Growth Potential in the Domestic Market

• One of the fastest growing markets

• An attractive market, the second biggest importer of petrochemicals after China

• More than 6000 small and medium sized companiesare active mainly in packaging, construction andautomotive fields

• Petrochemical market size 6-7 billion USD

-15

-10

-5

0

5

10

15

20

25

30

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Thermoplastics Domestic Growth (%) GDP Growth (%)

0

500

1000

1500

2000

2500

3000

3500

4000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2015E

Thermoplastics

Fiber Raw

U.S.A 90 75 76W.Europe 78 69 70Turkey 45 43 45Republic of China 30 28 30World 25 24 24Brazil 23 25 27India 6 5 6

Petrochemicals Domestic Demand (thousand ton)

Kg/capita 2007 2008 2009

Plastics Consumption per Capita

17

AGENDA

1 I World Economy & Petrochemical Industry

2 I A Glance at Petkim

3 I Investments

4 I Growth Plans and Strategies

5 I Key Financials

18

DOWNSTREAM

• ADVANTAGES OF WIDE PRODUCT RANGE

• HIGH VALUE ADDED SPECIALTY CHEMICALS

• STRATEGIC PARTNERSHIPS WITH CUSTOMERS OR OTHER INVESTORS (CLUSTER MODEL)

ENERGY PRODUCTION

LOGISTICS & TRADING

UPSTREAM

SYNERGY WITH SOCAR&TURCAS

REFINERY

Growth Plan and Strategy

4 PILLARS OF GROWTH PLAN

19

Feedstock Flexibility Logistics• Increasing LPG utilization in feed slate of cracker

• Utilization of Fluid CatalyticCracking (FCC) and C4 stream

• Setting up an advanced “steamcracker” model for the utilization of different feedstocks and the factoryoptimization

• Energy saving program

• Opportunity for importing NG from Azerbaijan

• Power generation from wind

• New distribution centers

• Increased transportation by rail

• Potential strategic partnershipopportunities in port business

• Capability for storage facilities leasing

Short Term Growth Plans

TradingSales&Marketing

Business Transformation

Capacity Increase

• Meeting total needs of customers

• Product trading that will be conducted from Aliaga and also from new logistic centers

• New financial instruments to promotesales

Capacity increase by:

• Ethylene and thermoplastics revamping

• Debottlenecking and modernization

• Maximizing asset utllitization

• Reviewing the current performance

• Assessing potential improvementareas in organization, maintenance, energy, HSE and operations

• Improving IT infrastructure with ERP and integrated Manufacturing ExecutionSystem (MES)

Energy

20

SECURING FEEDSTOCK WITH THE REFINERY INTEGRATION

Mid to Long Term Growth PlansTO REACH 40% MARKET SHARE WITH

“DOWNSTREAM” INVESTMENTS –VALUE SITE

SOCAR&TURCAS AEGEAN REFINERY

• Allocation of 130 ha area for the refinery investment• 10 million tons /year crude oil capacity• Product slate: naphtha, LPG, diesel, kerosene, jet fuel (no gasoline)• 30% investment cost reduction due to existing infrastructure• Creation of synergy with the vertical integration• Feedstock security for Petkim• Additional revenue from services to the refinery

• Available infrastructure for potential investments• Double digit demand growth in the Turkish chemical sector• Increasing competitive advantage with sinergies created• New investment opportunities with local and foreign companies• Cluster Model

21

LOGISTICSTo become one of the key logistics main terminals in the regionHigh capacity potential of container handlingHigh capacity potential of liquid and dry cargo handling High capacity of logistics support unitsDirect access to national railway hubs and national transit ways and highwaysTank Farm

ADVANTAGESIncreasing harbour capacity and utilization rateStorage of various solid, liquid, and gas chemicalsPaving the way for potential investments on transportationImport and export opportunities for chemicals

Growth Plan and Strategy

GROWING WITH LOGISTICS INVESTMENTS

Exclusivity agreements have been signed with one of the industry-leading companies, APM Terminals BV, for the development of Petkim port, and negotiations are currently continuing.

22

CHEMICAL INDUSTRY PARKS

Cluster Model

23

• Providing the highest level of vertical integrationbetween petrochemicals and refinery,

• Co-existing small to medium enterprises, supporting industries, R&D, and technologydevelopment centers,

• Opportunity to source the feedstock directlyfrom nearby plant and supply output ‘over-the-fence’ to end users.

• Sharing infrastructure, facilities, repair andmaintenance, utilities and other services,optimising land use,

• Cost savings on raw materials, transportation, storage etc. by sharing existing infrastructure

• Achieving competitiveness by sharing logistics, energy and human resources.

Chemical Park Cluster Models

MARL Chemical Park (Germany)Wilton International Teesside

(England)Shangay Chemical Park (China)Jurong Island (Singapore)North-Pas de Calais (France)Point Lisas Industrial Estate (Trinidad)

Zeitz Industrial Park (Germany)Dow Value Park (Germany)Antwerp (Belgium)Chemical Alliance Zone (USD)

Cluster Models

24

MARL Chemical Park (Germany) Antwerp (Belgium)

Wilton International Teesside (England)

Year 1960

25

Today

JURONG-Singapore

JURONG ISLAND’S KEY FIGURES

Total Sales (billion USD) ~75Land (hectare) 3.200 # of Operated Plants (unit) 95# of Labour 30.000Refinery Capacity (million barrel/day) ~1,3# of Crackers (unit) 5Electricity Generation Capacity (mw) 4.650

PETKİM & Jurong International

26

• The world's most successful petrochemicalpark, Jurong Island, is a man-made landmasscreated from seven islands, in which a numberof chemical companies co-exist.

• Petkim signed a consultancy contract withJURONG International Pte Ltd. (JURONG)which has established the cluster model of Jurong Island Chemical Park in Singapore andplanned chemical park fields in more than 40 countries.

• A Master Plan study is being conducted byJURONG in order to ensure the most efficientuse of the existing land and infrastructure and toestablish a chemical park that will integrate thevalue chain of upstream, downstream, energyand logistics.

27

AGENDA

1 I World Economy & Petrochemical Industry

2 I A Glance at Petkim

3 I Investments

4 I Growth Plans and Strategies

5 I Key Financials

28

29

Financials

2007 2008 2009 1H 09 1H 10 2Q 09 1Q 10 2Q 10Net Sales 1.671 1.795 1.342 560 921 333 451 470

Cost of Goods Sold (-) (1.514) (1.822) 1.269 (515) (840) (310) (420) (421)

Gross Profit (Loss) 157 (27) 73 45 80 23 31 49

Gross Profit (Loss) Margin 9,4% -1,5% 5,4% 8,1% 8,7% 6,9% 7,0% 10,4%

Operating Expenses (-) (74) (72) (44) (20) (28) (13) (13) (15) Other Operating Income/(Expenses),net

(20) (3) (3) 1 (4) 2 (1) (3)

Operating Profit/(Loss) 63 (102) 26 26 48 12 17 31

Financial Income/(Expenses) (11) (20) 16 2 (5) 4 - (6)

Profit/(Loss) Before Taxation 52 (122) 41 28 43 16 18 25

Deferred Tax (1) 5 34 (2) - 2 (4) 4

Net Profit/(Loss) for the Period 51 (117) 75 26 43 18 14 29

EBITDA 128 (4) 99 54 68 35 29 39

EBITDA Margin 7,7% -0,2% 7,4% 9,7% 7,4% 10,5% 6,4% 8,4%

Income Statement (Million USD) (IFRS )

1943

105 11699

140

9

58 5852

19

5739

19

0

50

100

150

Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10

Cash Bank Debt

Balance Sheet (Million USD) (IFRS)

Financials

Receivables, Inventories and Payables (Million USD)

31/12/2008 31/12/2009

149

58

115

293

19

1.123

19

11

116

208

224

89

60

897

1. 123

166

19

567

1.403

58

265

52

376

51

975

1.403

Cash&Cash Equivalents

Trade Receivables

Inventories

Other Current Assets

Current Assets

Non-Current Assets

TOTAL ASSETS

Financial Liabilities

Other Payables

Trade Payables

Short-Term Liabilities

Long-Term Liabilities

Shareholders’ Equity

TOTAL LIABILITIES

830 836

-300

-200

-100

0

100

200

300

400

Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10

Trade Receivables Inventories Trade Payables

30/06/2010

206

215

14

575

1.382

57

225

69

351

56

975

807

1. 382

140

Cash&Bank Debt (Million USD)

30

DisclaimerDisclaimer

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 Petkim Petrokimya Holdings A.Ş. (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, 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.

This presentation is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.

The contents of this presentation have not been verified by any authority. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information contained herein and no reliance should be placed on it. None of the Company, their advisers, connected persons or any other person accepts any liability for any loss howsoever arising, directly or indirectly, from this presentation or its contents.

31

We welcome your questions, comments and suggestions. Our corporate headquarters office address is:

Petkim Petrochemical Holding Corp. PO. Box.12Aliağa, 35801 İzmir/ TURKEY

To contact us with respect to shareholding relations for individual and corporate investors, please call directly or send an e-mail to

Ms. Füsun UGANFinance ManagerTel :+90 232 616 1240 (Ext:4575)Direct :+90 232 616 6127E-mail :fugan@petkim.com.tr

Mr. Şafak AYIŞIĞIAssistant General Manager (Finance)Tel :+90 232 616 1240 (Ext: 2150)Fax :+90 232 616 2297E-mail :sayisigi@petkim.com.tr

Mr. Hayati ÖZTÜRKGeneral ManagerTel :+90 232 616 1240 (Ext:2040)Direct :+90 232 616 2297Fax :+90 232 616 8519E-mail :hozturk@petkim.com.tr

Also, please visit our web site at www.petkim.com.tr for further information and queries.

Investor Relations

32