2015 Annual Results

Umut Zenar, CEO and Dr. Carsten Sauerland, CFO

Çanakkale Plant
Slide 1 - 31.03.2016
 Agenda

1. Market Overview
 Market Trends 4
 Cement and Clinker Volume Changes 17
 Readymix Volume Changes 18
 Export Regions 19

2. Financial Report
 Income Statement 21
 Cash Flow 23
 Dividend Policy 25
 Capex Structure 26
 Net Debt / EBITDA 27
 Balance Sheet 28

3. Outlook 30

4. Awards, PR and Other Activities 34

Slide 2 - 31.03.2016
 Contents

1. Market Overview
 Market Trends 4
 Cement and Clinker Volume Changes 17
 Readymix Volume Changes 18
 Export Regions 19

2. Financial Report
 Income Statement 21
 Cash Flow 23
 Dividend Policy 25
 Capex Structure 26
 Net Debt / EBITDA 27
 Balance Sheet 28

3. Outlook 30

4. Awards, PR and Other Activities 34

5. Appendix 45

Slide 3 - 31.03.2016
 Global Market Trend

Global cement demand is expected to be 4.0 b ton in 2016

Bt -2.7% 0.0%
CAGR
4.5
+7.0% 4.0 4.1 4.0 4.0
4.0 3.8
3.6
3.5 3.3
3.0
3.0 2.8 2.8
2.6
2.5 2.3
2.2
2.0
2.0 1.8

1.5
1.0
0.5
0.0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 E 2016 E

Global Cement Demand

Source: Global Cement Report 2015 11th Edition, CemWeek Monthly Reports

Slide 4 - 31.03.2016
 Global Market Trend (continued)

Consumption in developing countries is expected to be in line with developed countries at around 2.5% level
%
15

10.1 10.2 9.8

10 8.8
7.1
5.6 6.3 5.9 5.7 6.0
5 3.5 3.4
2.2 2.0 2.1 2.6
1.9 1.3
0.9 1.3
2.3 -0.3 0.1 2.4
-0.6 -1.1 -0.8 1.7
0 -1.8 1.1
-2.0
-3.8
-5
-8.6

-10

-15
-17.5

-20
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 E 2016 E

Developed Countries* Rest of the World -ex China

* Developed Countries: Western Europe, North America, Developed Far East, Australia & New Zealand
Source: Global Cement Report 2015 11th Edition, CemWeek Monthly Reports, Exane BNP Paribas Reports

Slide 5 - 31.03.2016
 Macroeconomic Assumptions for Turkey 2007 – 2016E
Turkey Macroeconomic Indicators
Current Average
TR-3 Months
Account Housing Population
Years Deposit Rate,
•Slowed down in current account balance Balance, % of
Annual,%
Loan Rate, (mio)
share in GDP due to continuing lower fuel GDP Annual, %

prices 2007 -5,8% 17,5% 18,3% 70,2

2008 -5,5% 20,0% 18,6% 71,1
•Interest rate level was higher compared to 2009 -2,0% 9,3% 15,6% 72,1
2010 -6,2% 7,6% 11,1% 73,0
last year which was reflected on mortgage 2011 -9,7% 10,7% 11,6% 74,0
rates 2012 -6,2% 7,9% 12,4% 74,9
2013 -7,9% 8,9% 9,7% 76,1
2014 -5,7% 10,1% 11,9% 76,9
2015 AC/E -4,5% 11,9% 12,3% 77,7
2016 E -4,8% 9,5% 14,3% 78,6

FX Rate +6% EUR/USD

+25%
4.00 1.50
3.48
3.50 1.45
3.18 3.09
•USD appreciated around 25% in 2015 3.00
2.94 2.82 2.91 1.40
2.44 1.35
•FX rate: TL depreciation is expected to 2.50 2.14 2.16
2.35 2.32
2.05 1.30
continue in 2016 but lower than 2015 2.00 1.71
1.89
1.55 2.13 1.25
1.51 1.51
1.50 1.16 1.78
1.20
1.00 1.15
0.50 1.10
0.00 1.05
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 E
USD/TL EURO/TL Parity (EUR / USD)
Source: Sabancı Holding, IMF, CBRT and Akcansa assumptions

Slide 6 - 31.03.2016
 Relationship between GDP Growth and Cement Demand Growth
%
25

20

15

10

-5

-10

-15

-20

-25
1981 1985 1990 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 E

Real GDP Growth Domestic Cement Demand Growth (%)

•2015 real GDP growth is expected to be higher than 2014

•Domestic cement demand increased by 0.8% to reach 65.1mt in 2015
•High correlation between real GDP growth and domestic cement demand growth

Source: Sabancı Holding and Akcansa assumptions

Slide 7 - 31.03.2016
 Cement Consumption per Capita and GDP Per Capita in Turkey

There is a positive correlation except 2015 and 2016

$ Kg
10,822
11,000 10,444 10,428 10,459 837 900
827 830
10,003 770
10,000 764 836 800
10,380
9,247 696
9,290 700
9,000 624 8,561
599 9,180
645 600
8,000 518 590
453 7,597 500
7,000 406 420 7,036
400
6,000
5,775 300
5,000
200
4,565
4,000 100
3,492
3,000 0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016E

GDP Per Capita ($) Cement Consumption Per Capita (kg)

Source: Sabancı Holding and Akcansa assumptions

Slide 8 - 31.03.2016
 Turkish Cement Sector (2000 – 2016E)

Domestic cement demand is expected to increase by 2% in 2016

This presentation/report demonstrates "estimated results" of market research done by Akçansa Çimento Sanayi ve Ticaret A.Ş. in addition to
Turkish Cement Manufacturers’ Association figures.

Slide 9 - 31.03.2016
 Cement Sector Distribution in Turkey
52 integrated plants, 18 grinding mills, 70 plants, 21 players
Bulgaria
Black Sea
2 Georgia
Greece 4
5 İSTANBUL
4
6
3
1
1 Armenia
3
3 6 6 5 3
8
10
ANKARA 6 6 3

Aegean
Sea 11
IZMIR 6 3 Iran
7
7 12
10 15
4
14
11
7 13
ADANA 4
5 9
Iraq

16 Syria
Mediterranean Sea

AKÇANSA ( 4 ) 1. Nuh Çimento (2) 6. Votorantim (6) 11.Yurt (2) 16. Medcem (1)
Grinding Mill X
OYAK ( 9 ) 2. Traçim (Soyak) (1) 7. Batıgrup (3) 12.Goltas (1)
Integrated Plants X ÇİMENTAŞ ( 5 ) 3. Aşkale (Ercimsan) (6) 8. Bursa (1) 13.Kipas (1)
LİMAK (10) 4. Çimko (Sanko) (4) 9. Sönmez (1) 14.AS (1)
ÇİMSA ( 6 ) 5. Titan (ADO) (3) 10.Vicat (2) 15.Fernas (1)

Slide 10 - 31.03.2016
 Turkey Clinker Capacity Distribution

Akçansa Çimsa
9% 7%
Oyak
Other 15%
16%

10% Limak
Votorantim 4%
4%
Kipas
5% 7%
Vicat 5% Aşkale
6%
6% 6%
Nuh Sanko-Barbetti
Cementir As

First 3 groups form 40% of the Turkish Cement Capacity

Source: TCMA

Slide 11 - 31.03.2016
 Domestic Sales Volumes Change (December YTD)

Marmara Black Sea

1,2% -9,2%

East Anatolia
Central Anatolia
-3,1%
Aegean
7,4%
3,0%
South East Anatolia

Mediterranean -6,5%
7,0%

 Cement demand in Turkish domestic market increased by 0,8%

 Cement and clinker export figures of Turkey increased by 12,3%
This presentation/report demonstrates "estimated results" of market research done by Akçansa Çimento Sanayi ve Ticaret A.Ş. in addition to
Turkish Cement Manufacturers’ Association figures.

Slide 12 - 31.03.2016
 Clinker Stock Level Change (December YTD)

Marmara Black Sea

2015-12 : 32% 2015-12 : 0%

2015-12 : 896kt 2015-12 : 371kt

East Anatolia
Central Anatolia 2015-11 : -21%
Aegean 2015-12 : -13% 2015-11 : 465kt

2015-12 : -34% 2015-12 : 317kt

2015-12 : 521 kt
South East Anatolia
2015-12 : 6%
Mediterranean 2015-12 : 464kt
2015-12 : -29%
2015-12 : 1.324kt

In Turkey, total clinker stocks are 4,5 mio tons and there is a 16% decrease in stock level
compared to the last year’s figure
This presentation/report demonstrates announcement of TCMA as of December’15
Figures do not include non TCMA members’ figures

Slide 13 - 31.03.2016
Akcansa Markets

Slide 14 - 31.03.2016
 Akcansa Market Trends

Domestic Export

FY15 Price FY15 Price

Volume Volume
(TL/ton) ($/ton)

Domestic Cement Export Cement

Marmara Export Clinker

Aegean
 Domestic volume was stable while
Black Sea export volume increased
 Marmara region was the main driver of
overall price increase

Readymix
FY 15
Price
Volume Energy Costs FY 15
(TL/m3)
General Coal (USD / ton)

Marmara Petcoke (USD/ton)

Aegean Diesel (TL / Lt)

Black Sea Electricity (TL / kwh)

 Decreasing RMC volume with  Favorable energy costs in 2015

higher prices

These figures represent the management report view.

Slide 15 - 31.03.2016
 Baltic Dry Index
Index Value

• Index fluctuated less in

2015 compared to
previous year
• Index on average in
2015 was lower than the
previous year
Last 5-year period

Index Value

• Index had decreasing

trend in the first months
of 2016

Last 12-month period Source: Bloomberg

Slide 16 - 31.03.2016
 Akçansa Sales Volume Components

Domestic Cement
Shipments Product Mix
Domestic Clinker
[M ton] Export Cement
[%]
Export Clinker
9.0 100%
7.5 7.6
7.5
80%

6.0
60% 82.7% 81.9% +82% Domestic
4.5 6.2 6.2
40%
3.0

20% 0.0%
1.5 0.0 1.3%
0.1 0.7 8.0% 9.7%
0.6 +18% Export
0.6 0.6 8.0% 8.5%
0.0 0%
FY14 FY15 FY14 FY15

• Domestic cement and clinker sales volume was stable

• Export cement and clinker sales volume increased 12%
*) Domestic cement figures include Karçimsa and transfer to RMC figures

These figures represent the management report view.

Slide 17 - 31.03.2016
 Akçansa Sales Volumes (Continued)

-6% FY 14 FY 14
[M m3] [%]
4.7 FY 15 -1.6 FY 15
4.4 20
18.3
16.7

15

10

0
RMC Sales * Vertical Integration Ratio **
*) RMC figures include RMC sales of Karçimsa
**) Vertical integration ratio is calculated by dividing transfer of cement to RMX business line to total cement sales volume

These figures represent the management report view.

Slide 18 - 31.03.2016
 Akcansa Export Regions (FY15)

FY14
Russia
7.0%
Latin America
19.0%
49.0% West Africa

22.0%
North Africa

FY15
Export to USA North Africa Latin America
has biggest
portion in FY15 7.0%
3.0%
USA 26.0%
West Africa
has been 64.0%
keeping its West Africa
high weight in
total export
(~50%)
Shift from Russia, North Africa
and Latin America to USA and
West Africa
<50 k ton >100; <50 k ton >100 k ton

Slide 19 - 31.03.2016
 Contents

1. Market Overview
 Market Trends 4
 Cement and Clinker Volume Changes 17
 Readymix Volume Changes 18
 Export Regions 19

2. Financial Report
 Income Statement 21
 Cash Flow 23
 Dividend Policy 25
 Capex Structure 26
 Net Debt / EBITDA 27
 Balance Sheet 28

3. Outlook 30

4. Awards, PR and Other Activities 34

5. Appendix 45

Slide 20 - 31.03.2016
 Income Statement

Var. Var
Company Mio TL
4Q14 4Q15 4Q15 vs. 4Q14 % Ch. Q 12M14 12M15 12M15 vs.12M14 % Ch. YTD
Net Sales 332,1 398,0 65,8 19,8% 1.410,9 1.468,5 57,7 4,1%
Cost of Sales (247,9) (288,0) (40,1) 16,2% (1.019,2) (1.040,1) (20,8) 2,0%
Gross Margin 84,2 110,0 25,8 30,6% 391,6 428,5 36,8 9,4%

Marketing&Sales Expense (5,0) (3,7) 1,3 -26,2% (16,6) (15,8) 0,7 -4,3%
General Management Expenses (17,7) (17,2) 0,5 -2,7% (50,6) (53,8) (3,1) 6,2%
EBIT 61,5 89,1 27,6 44,8% 324,4 358,8 34,4 10,6%
Other Operating Income/Charges (0,4) (2,9) (2,4) 550,3% (4,5) (7,1) (2,7) 59,6%

Operating Income 61,1 86,2 25,2 41,2% 320,0 351,7 31,8 9,9%
Income/Losses from Investment Activities (1,0) 0,1 1,1 -106,5% 16,6 20,7 4,1 24,8%

Non-Operating Financial Income 1,9 1,3 (0,6) -33,0% 6,6 7,8 1,2 18,4%
Non-Operating Financial Charge (7,0) (6,8) 0,1 -1,5% (34,5) (31,6) 2,8 -8,2%
Profit/Loss before Taxes 55,0 80,7 25,7 46,8% 308,7 348,6 39,9 12,9%
Taxes On Income (10,8) (16,2) (5,4) 50,6% (58,4) (65,6) (7,2) 12,3%
Net Income/Loss 44,2 64,5 20,3 45,9% 250,3 283,0 32,7 13,1%

Gross Margin % 25,4% 27,6% 2,3% 27,8% 29,2% 1,4%

EBITDA Margin % * 23,6% 26,9% 3,3% 27,6% 29,2% 1,6%
EBIT Margin % 18,5% 22,4% 3,9% 23,0% 24,4% 1,4%

Net Income Margin % 13,3% 16,2% 2,9% 17,7% 19,3% 1,5%

*) Excludes the depreciation and amortization amount attributable to other operating expenses.

These figures represent the management report view.

Slide 21 - 31.03.2016
 Company Profit and Loss Accounts (FY15)

Mio TL Net Income Analysis

FY15 vs. FY14
310

300
20,8
4,1 7,2
290 2,4
2,7 4,1
283,0
280 57,7

270

260

250,3

0
FY14 Net Sales Cost of Operat. Exp. Other Inv. Fin. Taxes FY15
Sales Inc.&Exp. Inc.&Loss Inc.&Loss

These figures represent the management report view.

Slide 22 - 31.03.2016
 Cash Flow Statement

Company Mio TL
FY14 FY15
Cash flow from operating activities
Operating income before the changes in working capital 401,0 434,2
Changes in working capital 14,2 (33,8)
Taxes paid (58,8) (59,4)
Other items (12,4) (2,3)
344,0 338,7
Cash flow from investing activities
Tangible and intangible fixed assets (113,7) (115,6)
Financial assets (0,1) (0,7)
Proceeds from fixed asset disposals 2,5 4,0
Dividends Received 17,7 19,9
(93,5) (92,5)
Cash flow from financing activities
Dividend payments (145,6) (227,6)
Net proceeds from bonds and loans (73,1) 13,6
Interest paid (35,1) (24,9)
Other items 0,7 1,2
(253,1) (237,6)

Net change in cash and cash equivalents - continuing operations (2,6) 8,6

Change in cash & cash equivalents (2,6) 8,6

Cash & cash equivalents at 1 January 15,8 13,3
Cash & cash equivalents on 31 December 13,3 21,9

These figures represent the management report view.

Slide 23 - 31.03.2016
 Cash Flow Usage

FY14 FY15

329.8 338.2

145.6 113.7 70.5 -5.1 227.6 115.6

Mio TL Mio TL

Adj. operating cash flow * Dividend paid S&G Capex Net debt reduction

*) Operating cash flow is adjusted for dividends received, interest paid and other items.

These figures represent the management report view.

Slide 24 - 31.03.2016
 Dividend Paid, Dividend Yield and Payout Ratio

Dividend Paid, gross M TL Dividend Yield, %* Payout Ratio %

** +31% +14%

+57%
257.6 10.1 88.5 91.2 91.5 90.9 91.6
226.3
+31%
6.6 6.8
+24%
144.4 5.6
5.2
110.0
88.7

2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2011 2012 2013 2014 2015

*) Akcansa closing share price as of 23 February 2016 is used for 2016 dividend yield calculation (on gross basis)
**) CAGR (Compound Annual Growth) of dividend paid amount for the last four years
There has not been any change in dividend payment policy throughout years

Slide 25 - 31.03.2016
 Total Capex Distribution

M TL +2%
%
100% 120 113.7 115.6
Key Investments in 2015: 17% 110
23% 19.7
Cement Business Line: 100 26.5
80%
1. (I&G) New cooler and preheater for Line1 in order to 90
increase kiln efficiency (CNK)*
80
2. (L&E) Building up SNCR*** system (BCM)** in order
to reduce NOx emission 60% 39% 70
54% 44.0 62.2
3. (I&G) Switchyard project (LDK)**** 60
RMC Business Line: 40% 50
1. (I&G) Acquisition of RMC plant in Samsun 40
2. (I&G) Capacity increase and relocation of RMC Plant
in BCM Plant
30
20% 38% 43.2
3. (I&G) Capacity increase of RMC Plant in İzmir – 29% 20 33.7
Gümüldür 10
0% 0
*) Çanakkale Plant FY14 FY15 FY14 FY15
**) Büyükçekmece Plant
***) Selective Non-Catalytic Reduction Legal & Environment (L&E)
Improvement & Growth (I&G)
****) Ladik Plant
Replacement (Rep)

These figures represent the management report view.

Slide 26 - 31.03.2016
 Net Debt / EBITDA

M TL
X
1.8 450
Net debt
1.6 Net Debt/EBITDA (LTM) 400

1.4 1.3 350

1.2
1.2 285 300
256 263
241 247
1.0 250
225
1.0 0.8
0.8 179 200
0.7
163 0.6
151
0.6 150

0.4
0.6 0.4
85
0.4
91
100
70 0.2
0.2 50
0.2 0.2
0.0 0
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15

These figures represent the management report view.

Slide 27 - 31.03.2016
 Balance Sheet
Variance Variance
Mio TL 31.12.2014 31.12.2015 FY15 vs FY14 Mio TL 31.12.2014 31.12.2015 FY15 vs FY14

Current Assets 500,8 569,3 68,5 Current Liabilities 324,3 326,7 2,4
Cash & cash equivalents 13,3 21,9 8,6 Financial Liabilities 48,2 12,4 (35,8)
Trade receivables 332,8 398,9 66,1 Trade payables 238,9 271,1 32,2
Inventories 138,8 135,2 (3,6) Tax payable 9,5 14,0 4,5
Other current assets 15,9 13,3 (2,6) Other current liabilities 27,8 29,2 1,5

Non-current Assets 1.101,7 1.135,8 34,1 Non-current Liabilities 122,3 177,8 55,5
Financial investments 220,8 212,9 (7,9) Financial Liabilities 50,1 100,5 50,5
Fixed Assets 745,0 786,4 41,5 LT provisions 25,5 30,0 4,5
Goodwill 129,5 129,5 - Deferred tax liabilities 46,6 47,2 0,6
Deferred tax assets 1,1 1,0 (0,1) Other non-current liablities - - -
Other non-current assets 5,4 6,0 0,6

Shareholders Equity 1.155,9 1.200,6 44,7

Paid in Capital 191,4 191,4 -
Retained earnings 532,3 554,8 22,5
Comprehensive income 170,5 159,8 (10,7)
Net income 248,8 281,1 32,4
Minority interest 12,9 13,4 0,6

TOTAL ASSETS 1.602,5 1.705,1 102,6 TOTAL LIABLILITES & EQUITY 1.602,5 1.705,1 102,6

Variance
BS data and key ratios 31.12.2014 31.12.2015 FY15 vs FY14
Work ing Capital 232,8 263,1 30,2
Work ing Capital / Net Sales (LTM) 16,5% 17,9% 1,4%
Net debt 85,0 91,1 6,1
Net debt / EBITDA (LTM) 0,2x 0,2x 0,0x
Net Debt / Equity 7,4% 7,6% 0,2%

These figures represent the management report view.

Slide 28 - 31.03.2016
 Contents

1. Market Overview
 Market Trends 4
 Cement and Clinker Volume Changes 17
 Readymix Volume Changes 18
 Export Regions 19

2. Financial Report
 Income Statement 21
 Cash Flow 23
 Dividend Policy 25
 Capex Structure 26
 Net Debt / EBITDA 27
 Balance Sheet 28

3. Outlook 30

4. Awards, PR and Other Activities 34

5. Appendix 45

Slide 29 - 31.03.2016
 Outlook 2016

Expectations Compared to FY15:

FY16
Volume Price
 Slight increase in domestic and increasing export
Domestic Cement (TL/t)
sales via HeidelbergCement network
Export Cement ($/t)
 Increase in RMC prices by focusing on value added
Export Clinker ($/t)
products
RMC (TL/m3)

(*) Compared to FY15

Compared to FY15:
Energy Price FY16
 Decreasing coal and petcoke prices
Coal (USD / ton)
 Effect of FX rate appreciation effect on diesel prices
Petcoke (USD/ton) net-off by fuel price decrease due to excess global
Diesel (TL / Lt) supply
Electricity (TL / kwh)  Potential increase in electricity prices can be
mitigated by windmill project
(*) Compared to FY15

These figures represent the management report view.

Slide 30 - 31.03.2016
 Construction Projects in Turkey

Akcansa Projects Projects in Turkey

Completed Projects: Ongoing Projects:

Özdilek AVM (200 k m3) Third airport project in Istanbul

Zeytinburnu Varyap Project - Student Dormitory (80k m3) Capacity: 150 mio people per year
Sinpaş Bosphorus City Project (500k m3) The Bosphorus Tunnel, project
Sinpaş GYO Akasya Project (450k m3) Highway and tunnel with 5,4 km length
Varyap Meridian Project (260k m3) 1,1 bio USD
Innovia Project (500k m3) Urban transformation:
4 bio USD per year (for the following 10 years)
Ongoing Projects: İzmit – İzmir Highway;
Highway (421 km)
Çekmeköy Metro Line (260k m3) İzmit Bridge; Length 1,7 km;Cost : 2 bio TL
Third Bridge; connecting highway (1.000k m3) Four tunnels (7,4 km)
Concrete road project in Black Sea Region (1.200k m3) 30 viaducts (18,2 km)
Sinpaş Küçükçekmece (150k m3)
Çatalca TOKI Project (250k m3) Projects in pipeline:
Istanbul Finance Center Project (2.000k m3)
Özak GYO – Zeytinburnu Housing Project (400k m3) New Metro Routes (Project Period: 2015-19) (2.3 mio m3)
Mecidiyeköy – Mahmutbey
Mecidiyeköy – Beşiktaş
Sabiha Gökçen - Kartal
Mahmutbey – Ataköy
Üsküdar – Çekmeköy

Çanakkale Bridge; project

Çanakkale Bridge (2,2 km)
Highway (13,7 km)
2 mio ton cement excluding the accommodation
consumption
For further information about our projects please visit our web site:
www.betonsa.com.tr

Slide 31 - 31.03.2016
Turkish Cement Market, Sales Volumes Change %, (2016 - Expected)

Marmara Black Sea

2,0% 0,5%

East Anatolia
Central Anatolia 2,5%
Aegean
2,5%
2,0%
South East Anatolia

Mediterranean 2,5%
2,5%

Cement demand in Turkish domestic market is expected to grow by 2% in 2016

This presentation/report demonstrates "estimated results" of market research done by Akçansa Çimento Sanayi ve Ticaret A.Ş.

Slide 32 - 31.03.2016
 Contents

1. Market Overview
 Market Trends 4
 Cement and Clinker Volume Changes 17
 Readymix Volume Changes 18
 Export Regions 19

2. Financial Report
 Income Statement 21
 Cash Flow 23
 Dividend Policy 25
 Capex Structure 26
 Net Debt / EBITDA 27
 Balance Sheet 28

3. Outlook 30

4. Awards, PR and Other Activities 34

5. Appendix 45

Slide 33 - 31.03.2016
Awards, PR and Other Activities

Slide 34 - 31.03.2016
 Awards, PR and Other Activities (continued)

HeidelbergCement Global Health & Safety Award Winner

Slide 35 - 31.03.2016
Awards, PR and Other Activities (continued)

Slide 36 - 31.03.2016
Awards, PR and Other Activities (continued)

Slide 37 - 31.03.2016
Awards, PR and Other Activities (continued)

Slide 38 - 31.03.2016
Awards, PR and Other Activities (continued)

Slide 39 - 31.03.2016
Awards, PR and Other Activities (continued)

Slide 40 - 31.03.2016
Follow Us

Slide 41 - 31.03.2016
Contacts

Dr. Carsten Sauerland, CFO

Phone +90 216 571 30 20 [email protected]

Fax +90 216 571 30 21

Dinçer Bulan, IR Executive

Phone +90 216 571 31 14 [email protected]

Cell phone +90 530 522 69 11
Fax +90 216 571 30 31

Banu Üçer, Corporate Communication Executive

Phone +90 216 571 30 13 [email protected]

Fax +90 216 571 30 11

Info Adress: [email protected]

Websites
www.akcansa.com.tr
www.betonsa.com.tr
www.sabanci.com.tr
www.heidelbergcement.com

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Disclaimer
This presentation (Presentation) has been prepared by Akçansa Çimento Sanayi ve Ticaret A.Ş. for the sole purpose
of providing information relating to Akçansa (Information).

This Presentation is based on public information and data provided by Akçansa management and basically
demonstrates forward looking statements based on numerous assumptions regarding our present and future
business strategies and the environment in which we will operate in the future.

Please be aware that the forward looking statements and/or assumptions of future events declared in the
Presentation and/or in the Information may not prove to be accurate.

No warranty or representation, express or implied, as to the accuracy, reliability, completeness, or timeliness of this
Information is made by Akçansa.

No profitability or any other warranty is claimed by the Information provided either on company or sectoral basis.

No liability/responsibility is accepted by Akçansa for any loss or damages of any kind, incurred by any person for any
information howsoever arising from any use of this Presentation or the Information.

The Information contained at this Presentation has been included for general informational purposes only and no
person should make any investment decisions in reliance upon the information contained herein.

Akçansa shall not be held responsible for any kinds of losses that may rise from investments and/or transactions
based on this Presentation or Information or from use of this Information and/or Presentation.

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Appendix

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 Akcansa at a glance
Operations in Turkey

Istanbul (Ambarlı) Istanbul (Büyükçekmece) Samsun Artvin (Hopa)

Operation Capacity Cement Production Capacity Operation Capacity Operation Capacity
1.600.000 2.600.000 120.000 120.000
Clinker Production Capacity
1.950.000
Tekridağ (M.Ereğlisi)
Operation Capacity
250.000

Karabük (Karçimsa) Samsun (Ladik)

Cement Production Capacity Cement Production Capacity
200.000 1.050.000
Clinker Production Capacity
Kocaeli (Derince) Kocaeli (Yarımca) 650.000
Operation Capacity Operation Capacity
300.000 700.000

Ready-mixed concrete
Yalova Production capacity
Operation Capacity 7 million m3
300.000 Number of RMC plants
35
İzmir (Aliağa) Çanakkale
Operation Capacity Cement Production Capacity
350.000 5.500.000
Clinker Production Capacity
4.450.000

Key Operational Highlights

CEM RMC Ports Terminals

• 3 cement plants • 35 RMC plants • 2 ports • 8 domestic terminals

• 7,0 m ton clinker capacity • 7 million m3 RMC capacity • Ambarlı & Çanakkale • 3,8 m ton total operating capacity
• 9,3 m ton cement capacity

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 Turkish Cement Market (Expectations)

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015E
1. Private Housing 62% 57% 50% 51% 54% 52% 53% 53% 51% 50%
2. Commercial 14% 16% 13% 9% 11% 10% 11% 9% 10% 9%
3. Public 4% 5% 5% 5% 5% 5% 5% 5% 5% 6%
4. Infrastructure/Projects 20% 22% 32% 35% 30% 33% 31% 33% 34% 35%

Source: TUIK and TCMA

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 Urban Transformation in Istanbul

Istanbul will be reconstructed in the following ten years and outline of the project is as below:

Environment Transportation Urban Transformation

•Prince Islands Project •Marmaray •Tarlabaşı (278 houses)

•Haydarpaşa Train Station Project •Tube channel for rubber tyred vehicles •Sulukule (354 parcels)
•Pedestrianization of Taksim Square •3rd bridge and North Marmara Highway •Fikirtepe (131 ha)
•Pedestrianization of Kadıköy Square •Ankara – İstanbul high speed train •Okmeydanı (176 ha)
•Beyoğlu Kasımpaşa Hasköy Highway •İstanbul – Edirne high speed train •Bayrampaşa (11,3 ha, 4 k houses)
Rehabilitation •3rd airport •Zeytinburnu Sümer District (1.536
•Levent – Champs-Élysées Project •New metro lines houses)
•Beşiktaş Square •New metrobus lines •Kayabaşı (60 k hauses)
•Üsküdar Square •Airway trains •Kartal (330 ha, 5 bio USD)
•Cendere Teknopark Project •Ro-Ro Line •Maltepe-Dragos (32 ha)
•Two new city hospital •Da-Vinci Bridge •Ayamama (230 ha)
•Two new city project •Telpher line for Bosphorus and Golden •Küçükçekmece – Ayazma (6,5 k
•Galataport Horn houses)
•Channel Istanbul Project •Touristic express trailway •Avcılar (180 ha)
•Çamlıca TV Tower •Beyoğlu – Perşembe Pazarı (8,5 ha)
•İstanbul Finance Center Project •Süleymaniye (94 ha)
•Istanbul Municipality Headquarter

Source: CNBC-e Business, June’12

Ha: Hectare

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 Urban Transformation (Continued)

Urban Transformation in Turkey

 Transformation of 253 thousand units was achieved in 2013

 Transformation of 500 thousand independent units was
planned to be completed in 2014
 20-year goal is the conversion of 6.5 million housing units.
 In 20 year period, 260 million cubic meters of ready-mix
concrete will be needed for urban renewal.

Urban Transformation in Istanbul

 The biggest demand has come from Kadıköy, Esenyurt and

Küçükçekmece respectively
Fikirtepe Urban Transformation Project: 25-30 k units
Urban Transformation Effect on RMC Demand
 The annual requirement is expected to be 13 million cubic Assumption for transformation effect
meters.

Construction Permit Trend in Istanbul

 2014 : 210 k housing unit
 2015 : 194 k housing unit

1 mio m3 0.3 mio ton

Sources: Ministry of Environment and Urban Planning, Istanbul Urban Regeneration Association, TURKSTAT

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 Construction Projects in Marmara Region

3rd Airport (2.000 k m3) Major urban transformation areas in Istanbul

3rd Bridge Connecting • Expected effect on Turkey

Highway (1.000 k m3) • Conversion of 6.500k housing units in 20 years
• 260.000k m3 RMC consumption

Eurasia Tunnel Project

(450 m3)

Istanbul Finance Center

Project (2.000k m3)

Çatalca TOKI Project

(250k m3)

Sinpaş Küçükçekmece Özak GYO – Zeytinburnu

(150k m3) Housing Project (400k m3)

Üsküdar – Çekmekoy Metro Izmit Bridge (200k m3)

Project (260 k m3)

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 Big Infrastructure Projects in Istanbul

Biggest projects for Istanbul are as below:

3rd Airport Urban Transformation

• The largest airport in the world -- or at least challenge regional • 4 bio USD per year for the following 10 years
rival Dubai • Major areas for the urban transformation are:
• Capacity: 150 mio passangers per year •Fikirtepe (131 ha)
• Will be constructed on İstanbul's European side between the •Okmeydanı (176 ha)
Black Sea regions of Yeniköy and Akpinar •Kartal (330 ha, 5 bio USD)
• Creating an estimated 120,000 jobs •Ayamama (230 ha)
• Contractors will be bidding on a 25-year build-and-operate •Küçükçekmece – Ayazma (6,5 k houses)
contract for the airport
•Avcılar (180 ha)
• Project cost would be around 8.7 bio USD
•Süleymaniye (94 ha)

Source: Todayszaman, CNBC-e Business, June’12

Ha: Hectare

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Big Infrastructure Projects in Istanbul (Continued)

Biggest projects for Istanbul are as below:

3rd Bridge
• Groundbreaking ceremony was held on 29 May 2013.
• Ictas Construction Industry Trade Corp.-Astaldi Joint Initiative
Group won the project
• Estimated cost is 2,5 bio USD
• Will be built in 3 years
• Consumption for total project : Volume:
• ~1,2 m m3 RMC and ~0,25 mt CEM
• 3rd Bridge; Volume :
• 2013 -2014: ~200 k m3
• Highway; Volume:
• 2013 -2015: ~1000 k m3

Source: Todayszaman, CNBC-e Business, June’12

Ha: Hectare

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 Energy always matters

 To increase efficiency on energy

usage Primary Alternative
 Flexibility in use of petrocoke and coal
 Use of import channels of HC Trading
firms
 High-sulfur petrocoke usage permit
 Hedging coal purchases to minimize cost
inflation risk
 Active electricity portfolio management
 Canakkale Plant has started the shreded
tire importation in the second quarter of
2012
 To increase alternative fuel usage
 Alternative fuel feeding system investment
in Canakkale Plant
 Agreement with Recydia Waste
Management Company
 Continue to import shredded tire
 Planned to have RDF import license like
shredded tire

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 EBITDA Margins
EBITDA Margin* - Quarterly
%
35 31.7
30.0 30.0 31.2
30 26.2 26.4 27.6 26.9
25 22.5 23.7 21.9 21.8
23.6
19.3
20 16.8
14.4
15
10
5
0
Q1 Q2 Q3 Q4

EBITDA Margin* - YTD

%
35
30 28.3 29.5 28.8 30.1 27.6
29.2
26.2 26.4
25 22.6 22.4
20.1 19.7 20.7 20.3
20 16.8
14.4
15
10
5
0
3M 6M 9M 12M
2012 2013 2014 2015

*) Excludes the depreciation and amortization amount attributable to other operating expenses.
These figures represent the management report view.

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 Akçansa Sustainability Approach

Sustainability
Committee

Sustainable Energy
Biodiversity & CO2 Reporting
Construction Fuel

• GRI Approval, January 2011 2010-2011 Report

• First report in its sector
• 2nd report was approved as of June 2012
• 3rd report was approved as of November 2014
• Microalg pool in Canakkale Plant 2012-2013 Report

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 General Basics About Cement and RMC Production

Production

1,6 ton limestone is consumed to produce 1 ton of clinker

75-90% clinker is consumed to produce 1 ton of cement
250-300 kg of cement in 1 m3 RMC produced
1,5-2,0 ton of aggregate in 1 m3 RMC produced depending on the type of RMC produced
Distribution of cement production cost : 75-80 variable and 20-25% fixed costs

Fuel

A cement plant of 1 mio ton clinker capacity may consume 100 k ton petrocoke or 130 k ton coal, or a mix of both
7.500 kcal/ton in petrocoke vs. 6.000 kcal/ton in coal.
Fuel accounts for 30-35% of the variable cost of producing 1 ton of cement
1% increase in alternative fuel usage have 1,5-2 mio TL cost advantage per year

Electricity

Electricity accounts 25-30% of the variable cost of producing 1 ton of cement.

0,01 TL increase in cost of 1 kwh electricity corresponds to 1-1,5 TL cost increase in 1 ton of cement.
Contribution of waste heat project
33% of Çanakkale Plant electricity consumption
Monthly contribution to P&L of Akcansa will be around 1-1,5 mio TL based on current electricity prices

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