Investor Relations Presentation - DOAS Profile 2019 - Doğuş Otomotiv

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Investor Relations Presentation - DOAS Profile 2019 - Doğuş Otomotiv
Investor Relations Presentation
DOAS Profile 2019
Investor Relations Presentation - DOAS Profile 2019 - Doğuş Otomotiv
Agenda

 Doğuş Group

 Doğuş Otomotiv

 Macroeconomic
 Outlook

 Automotive Market

 Core Business Lines

 Automotive Related
 Ancillary Business

 Corporate Governance

 Social Media

                        Investor Relations Presentation - DOAS Profile - 2019 | 1
Investor Relations Presentation - DOAS Profile 2019 - Doğuş Otomotiv
Doğuş Group Structure

                        Investor Relations Presentation - DOAS Profile - 2019 | 2
Investor Relations Presentation - DOAS Profile 2019 - Doğuş Otomotiv
Doğuş Group

                                                FOUNDATION 1951
                                               18,000+ EMPLOYEES
                                                321 INVESTMENTS
                                                  25 COUNTRIES
 7 SECTORS: Automotive, Construction, Media, Tourism and Services, Real Estate, Energy, Food &
                               Beverage, and New Initiatives
                    Combined total assets under management; TRY 92 billion (2018)
                                            S&P (B-) & Moody’s (Caa1)

 Founded in 1951, Doğuş Group has taken its place among the leading conglomerates in Turkey. Adopting a global vision,
 Doğuş Group is active in seven core businesses: automotive, construction, media, tourism and services, real estate,
 energy and F&B. In addition, the Group sustains its initiatives in the areas of technology and entertainment.

 Doğuş Group is aware of its responsibilities and acts in accordance with a vision that includes leading by example and
 contributing to economic development.

 The group plays a significant role in the Turkish economy by creating numerous employment opportunities and
 generating high levels of business volume.

 Doğuş Group’s corporate social responsibility strategy is to support economic, social and environmental development
 and increase the level of prosperity by creating innovative and sustainable business models in every sector and region.

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Investor Relations Presentation - DOAS Profile 2019 - Doğuş Otomotiv
Doğuş Group - Operational Map

                                                                                                                 18. GREECE
                                                                                                                 D-Marin Greece
                                                                                                                 D-Hotels & Resorts

                                                                                                                 19. ITALY
                                                                                                                 d.ream partnerships
AMERICA                                                                                                          D-Hotels & Resorts

1. USA                                                                                                           20. SPAIN
d.ream partnerships                                                                                              MB’92
                                                                                                                 D-Hotels & Resorts
2. SAINT BARTHS
D-Hotels & Resorts                                                                                               21. SWITZERLAND
                           6. NORTH IRAQ              10. SAUDI ARABIA           EUROPE                          D-Hotels & Resorts
                           D-Auto LLC                 Doğuş Construction Saudi
AFRICA                                                Arabia Branch              14. TURKEY
                                                                                                                 Doğuş SA - Geneva
                           7. KAZAKHSTAN
3. LIBYA                   Doğuş Construction         11. THAILAND                                               22. THE NETHERLANDS
                                                                                 15. BULGARIA
Doğuş Construction Libya   Kazakhstan Branch          d.ream partnerships                                        D-Marine Investment
                                                                                 Doğuş Construction Bulgaria
Branch                                                                                                           Company BV
                           Doğuş LLC                                             Branch
                                                      12. UNITED ARAB EMIRATES                                   d.ream International BV
                                                                                 Doğuş Construction
ASIA                       8. QATAR                   Doğuş Management
                                                                                 Representative Office
                           Doğuş Construction LLC     Services Ltd                                               23. UNITED KINGDOM
4. AZERBAIJAN                                         d.ream partnerships                                        d.ream partnerships
                           Doğuş Construction Qatar                              16. CROATIA
d.ream franchise
                           Branch                     REIDIN Headquarters        D-Marin                         24. UKRAINE
D-Hotels & Resorts
                           d.ream partnerships                                   D-Hotels & Resorts              Doğuş Construction LLC
                                                      13. INDIA
5. CHINA                                              Doğuş Construction and                                     Doğuş Construction
                           9. RUSSIA                                             17. GERMANY
d.ream partnerships                                   Trade Inc.                                                 Representative Office
                           Doğuş Avenue LLC                                      Doğuş Media Group GmbH
                                                                                 Euromessage Deutschland         25. FRANCE
                                                                                 GmbH                            MB’92

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Investor Relations Presentation - DOAS Profile 2019 - Doğuş Otomotiv
Doğuş Group Strategy

 The Group has become a global player in the services sector in virtue of the followed investment route in the recent years,
 value of its brands and strong commitment to maintaining the highest standards of customer service. The ultimate strategy of
 the Group is to maximize shareholder value by sound growth on the basis of sustainable profitability and enterprise wide risk
 management.

 On the F&B sector, the intention is to expand the unique brand umbrella both in Turkey and globally from Gulf Region to Far
 East, from Europe to US in line with the strategy being a global player representing Turkey and the Doğuş brand. The restaurant
 management company of Doğuş Group (d.ream) has been growing rapidly by expanding existing brands, developing new,
 innovative concepts and introducing local brands to the international arena, such as iconic brand Nusret known as Saltbae in
 USA. D.ream has further strengthened its position in the restaurant business by establishing strong partnerships in Turkey and
 abroad such as Paraguas, Coya and Zuma. D.ream currently operates in 11 countries with 58 brands and more than 160 outlets
 and its continuous growth keeps its pace mainly by organic ways.

 Doğuş Tourism Group had a rapid expansion in the recent years with a number of new investments both in Turkey and abroad.

 D-Hotels and Resorts owns, manages and partners in 14 hotels, 4 countries within Turkey, in Croatia, Italy and Greece. Owned
 and managed D-Hotels & Resorts are: Aldrovandi Villa Borghese, Argos in Cappadocia, D-Resort Ayvalık Murat Reis, D Maris
 Bay, D-Resort Göcek, D-Resort Sibenik and Villa Dubrovnik. Partnership and management contract hotels are: Eden Rock St
 Barths, Four Seasons Astir Palace, Grand Hyatt Istanbul, Hyatt House Gebze, Maça Kızı, Soho House Istanbul and Villa Maça
 Kızı. The renovations of Park Weggis in Luzern are ongoing. Properties of D-Hotels and Resorts are operated in accordance
 with the shared vision and values, and each hotel renders their services at the highest level of quality and service standards.
 As a true pioneer in the hospitality industry with its excellence approach, D-Hotels and Resorts aims to enhance its local and
 international brand recognition.

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Investor Relations Presentation - DOAS Profile 2019 - Doğuş Otomotiv
Doğuş Group Strategy

 On the new initiatives; Galataport, is one of the most important projects of the Group, is a city Project with a master plan Cruise
 Terminal and development of a Luxury Hotel together with equity partner Peninsula Hotels Group, A+ offices and outdoor retail
 areas. Galataport is planned to be operational in 2020.

 On the other hand, D-Marin Marinas Group, serving with 14 marinas with 8773 berthing capacity, 2 refit & maintenance
 shipyards in Turkey, Croatia, Greece, Spain, France, UAE and Montenegro, with +680 employees. The aim is to increase
 the marina capacity in order to evaluate the available demand in the regions where the Group has marina investments or
 management agreements, and be able to offer superior services to larger masses.

 Doğuş Retail Group, which has several luxury brands such as Armani, Gucci, Loro Piana under its umbrella extended its portfolio
 in the recent years by adding new global brands “Kiko” and “Under Armour”.

 Doğuş Group also continued to grow in media sector. The Group strengthened its position in the market by the partnership in
 TV8. The online TV platform of Doğuş Group “Puhu TV”, which the Group believes to be one of the pioneers of Turkish media
 and technology sector, was launched in the early 2017.

 Strongly believing in the capacity, potential and the future of Turkey, Doğuş Group has also been active in technology-aimed
 New Initiatives, partnerships and acquisitions besides the operations and activities in the main business lines. The Group
 believes its distinctive investments specified as the “New Initiatives” will be complementary of the Group’s other sectors,
 broaden the scope of services and the region the Group reaches.

                                                                                     Investor Relations Presentation - DOAS Profile - 2019 | 6
Investor Relations Presentation - DOAS Profile 2019 - Doğuş Otomotiv
Doğuş Otomotiv
Doğuş Otomotiv aims at having a productive and
profitable presence in every stage of the lifecycle
of owning a vehicle.

                                                      Investor Relations Presentation - DOAS Profile - 2019 | 7
Investor Relations Presentation - DOAS Profile 2019 - Doğuş Otomotiv
Doğuş Otomotiv

Presence in Every Stage of the Lifecycle of Owning a Vehicle
                                                                                                                       Automotive
                                          Core Business                                                              Related Ancillary
                                                                                                                         Business

       Import and                                    Replacement           Used Vehicle                                               Other
                                 Retail             Parts and After                                        Finance
       Distribution                                                           Sales                                                Investments
                                                    Sales Services

                                                  Spare Parts&Logistics

                                                     Quick Fix to all
                                                        Brands                                           Automotive                  TÜVTÜRK
               Yüce Auto                                                                                  Financing
                            Doğuş Otomotiv
                             Independent                                                                  Insurance
                           Authorized Dealers
                                                                                DOD                        Factoring

                                                                          Used Vehicle Sales                 Fleet

*Representative Offices

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Investor Relations Presentation - DOAS Profile 2019 - Doğuş Otomotiv
Widest Retail & Services Network in Turkey

Widest retail and services network in Turkey with nearly 550 customer points

(*)
    DOAS brands, including VW, Audi, Škoda, Seat, Porsche,       VW     Audi    Škoda   SEAT     Porsche
Scania, Thermo King, Scania Engines as of December 2018
                                                                  Scania    Thermo King   Scania Engines

                                                             Investor Relations Presentation - DOAS Profile - 2019 | 9
Success Story of DOAS                                                                                                                                                                                                                                   Market Share

                                                                                                                                                                                                                                                           18.1%
                                                                                                                                                                                                Car park more
                                                                                                                                                                                               than 2 mn units
                                                                                                                                                                                                                                                                   2018
 Doğuş Otomotiv is the sole importer and distributor of                                                                                                                                                                                              2017

 VW Group brand vehicles in Turkey.                                                                                                                          • Doğuş Otomotiv 15th
                                                                                                                                                                  anniversary
                                                                                                                                                                                                              2013           2015
                                                                                                                                                                                                                                          2016
                                                                                                                                                             • Opening of Porsche              2011
                                                                                                                                                                   Lausanne
                                                                                                                                                                                                                     2014
                                                                                                                                                                                                       2012

                                                                                                                                                                                        2010
                                                                                                                         Market Share
                                                                                 Consumer finance JV
                                                                               with Volkswagen Financial
• Scania distributorship
                                   • Porsche distributorship                          Services AG                             11.4%                                 2009
                                            agreement                                                                                                                                                                                            • Subsidiaries
        agreement                     • Customs duties on                                                                                                                                                                                           established
   • Volkswagen and                  vehicles imported from                                                                                                                                                                                       in Egypt were
   Audi distributorship                  the EU abolished                                                                                                                                                                                            liquidated
        agreement                                                                                   • Krone distributorship
                                                                                                          agreement                                                                                  Corporate                                     • Corporate
    • Distributorship                                                                                                                                                                                                                              Governance
     agreement with                                        • Škoda distributorship                • Assembling Operations                                   2008                                    Governance
                                                                agreement and                       • Merger of automotive                                                                             Rating                                       Rating rose
      Volkswagen AG                                                                                                                      2007                                                                                                           to 9.63
                                                          partnership with Yüce Auto               companies under Doğuş                                                                            (8.63 Point)
                                                            • Used car operations                          Otomotiv
                                                                  established                                                                                              • Global Compact
                           Scania Industrial                                                                                                                                   Agreement
                             and Marine                                                                                                                                       • Publishing
                                Engines                                                                                                                                       Sustainability
                            distributorship               SEAT                                                                                                                                                                   • Corporate                     • The
                                                                                                                               2006                                              Report                                      Governance Rating
                              agreement             distributorship                                       2003                                                                                                                                            distributorship
                                signed             agreement and                                                     2004                                                                                                         rose to 9.51           agreement with
                                                                                                                                                                                            Corporate                        • Incorporation of
                                                   partnership with                                                                                                                                                                                          VW AG was
                                                                                                                                                        • Thermo King distributorship      Governance                         Lausanne Bentley
                                                      Yüce Auto                                                                                                                                                                                           renewed for an
                                                                           1999                                                                                   agreement                   Rating                           Showroom and
                                                                                                                                                          • Krone Doğuş Trailer Plant      (7.80 Point)                                                  indefinite period
                                                                                           2000                                                                                                                                  D-Occasion-                  • Porsche
                                                                                                                                                           groundbreaking ceremony                                              used luxury car
                                                                                                                                                      • Groundbreaking ceremony of                                                                          and Bentley
                                                                                                                                                                                                                              sales- into D-Auto           showrooms of
                                                                                                                                                       Porsche dealership in Lausanne                                              Suisse SA.
                                                                                                                                                      • Opening Meiller Doğuş Tipper                                                                       D-auto Suisse
                                                                                                                                                                                                                              • Distributorship           SA in Lausanne,
                                                  1997                                                                                                               Plant                                                     agreement with
                                                                                                                                                     • Establishing Porsche Lausanne        • Corporate                                                  Switzerland were
                                                                                                                                                                                         Governance Rating                      Meiller came to              transferred
                           1995                                                                                                                                D-Auto Suisse SA                                                     an end
                                      1996                                                                                                                                                   (9.05 Point)                                                   • Corporate
                                                                                                                                                                                          • VW and Audi                                                     Governance
 1993         1994                                                                                                            • TÜVTÜRK established by the                                   distribution                                                    Rating rose
                                                                                                                          cooperation of AKFEN and TÜV SÜD                               agreement for Iraq                                                      to 9.64
                                                                                                                            • Porsche dealership contract in
                                                                                                 • Doğuş Otomotiv                          Lausanne
                                                                                              acquired 100% of SEAT                                                                                                             • VDF acquired MAN
                                                                                                                              • Lamborghini distributorship                                                                           Finansman.
                                                                                            • Bentley letter of intent                    agreement                       • VDF acquires Scania
                                                                  • Initial Public             • Volkswagen Marine                                                       Finance which performs                              • Corporate Governance
                                                                Offering of Doğuş                                                 • Opening of OtoMotion                                                                           Rating (9.42 point)
                                                                                                 Engines agreement       • Oto-Fix Ekspres Service established                services in heavy
                                         Market Share                 Otomotiv              • Production agreement                                                     commercial vehicle sector.                           • Production partnership
                                                               • Doğuş Otomotiv                                                 • Meiller distributorship and                                                                      and distributorship
                                                                                                     with Krone                   coproduction agreement                • Corporate Governance
  Market Share                                 5.8%                  Corporate
                                                                   Responsibility                                             • Krone - Doğuş coproduction
                                                                                                                                          agreement
                                                                                                                                                                             Rating (9.25 Point)
                                                                                                                                                                          • Maintain leadership
                                                                                                                                                                                                                               agreement with Krone
                                                                                                                                                                                                                                    came to an end.
                                                               project: “traffic is life                                                                                                                                         • Meiller production
      0.5%                                                                                                                        • Bugatti letter of intent
                                                                                                                            • LeasePlan partnership for fleet
                                                                                                                                                                            position in the total
                                                                                                                                                                            automotive market.                               came to an end (though
                                                                                                                                                                                                                               Meiller distributorship
                                                                                                                                            services                                                                                  continued)

                                                                                                                                                                           Investor Relations Presentation - DOAS Profile - 2019 | 10
Key Strengths of DOAS

 Leader in import market in Turkey with 18.1% m/s among c.35 pure
 importers                                                                  widest network
 One-stop shopping concept showroom, after sales services, consumer
 financing, and insurance service                                           ~ 550
 Widespread network and customer base, widest network with nearly
                                                                            customer points
 550 customer points

 Advanced financial risk management system and daily monitoring of          youngest fleet
 FX rate.

 12 well-positioned multi-brand products                                    > 80
 Youngest fleet in the market with new launches every year, over 80         models
 models

 Optimum balance of profitability and market share
                                                                            multi-brand products
 Marketing its own brands DOD, DOD City, DOD Prime and oto fix

 Well-equipped and custom designed IT infrastructure (Turkuaz)              12
 Uncompromised customer satisfaction-oriented dynamic and
                                                                            different brands
 attentive service approach leading to high customer loyalty.

                                                                      Investor Relations Presentation - DOAS Profile - 2019 | 11
DOAS’ Position in the Market - 2018 FY

                            2018 VW PV reached 49,749 sales units and ranked 2nd in the passenger vehicles market. (3rd if total sales are considered
                            tgether, as PV and LCV sales.)
                            2018 market share of VW was realized as 10.2%.
PV                          The Golf, Passat and Passat Variant retained 1st position in their segments.
                            SEAT achieved 10,383 sales units with a market share of 2.14%.
                            Škoda has succeeded to reach 21,340 sales in Turkey. Škoda has gained 4.39% market share in the passenger vehicles
                            market where the market has shrunk 32.7% in 2018.

                            VW LCV market share has been realized as 12.7% in 2018.
                            VW LCV sold 17,085 units in 2018.
LCV                         VW LCV is the sales leader with 25.3% market share in the import market.
                            VW LCV sales are ranked 3rd place in the total market.
                            Transporter has been the best selling vehicle in its segment for 9 consecutive years.

                            Scania completed 2018 with a record 10% share in the entire market and 18% share in the tractor unit market, with its

HCV
                            “Your business is our priority” approach.
                            Scania Engines has maintained its position among the top 10 in the classification made by Scania CV worlwide.
                            Thermo King has introduced electrical new-generation B-series units to users as of the second half of 2018.

                            Audi sold 13,295 vehicles in 2018. Audi Turkey, which made digitalization the focus of its business processes, was
                            cited by Audi AG as benchmark to other countries
                            Porsche sold 565 units in 2018. 911 and 718 models completed the year as the leaders in their segments. Porsche’s
Luxury                      highest selling model was Macan which sold 341 units. While Cayenne closed the year with 80 cars sold, Panamera
                            reached a sales figure of 45 units. The 718 Boxster/Cayman models increased its market share in its segment to 42%
Segment                     with the sale of 71 units.
                            Bentley sold 10 units in 2018. In 2018, Convertible version of the new Continental GT, the best grand tourer
                            manufactured to date was launched globally.
                            Lamborghini sold 3 units in 2018. In 2018, The World’s first Super SUV Urus was launched in Turkey.

                                                                                   Investor Relations Presentation - DOAS Profile - 2019 | 12
Financial Performance

Sales Revenue (TRY mn)                           Gross Profit (TRY mn)                            EBITDA (TRY mn)

                               13,220                                        1,301   1,301                                                     610
                      11,925                                         1,153                                                          556
          10,889                                            1,109
                                        10,688                                                                  496        492
                                                    873
  7,693                                                                                                365

   2014    2015       2016     2017     2018        2014    2015    2016     2017    2018             2014      2015      2016      2017      2018

Net Profit (TRY mn)                              CapEx (TRY mn)                                   Total Assets (TRY mn)

           302                                                               315                                                    5,167
                                                                                                                          4,852               4,799
   253
                       238                                                                                     3,980
                                                                     208
                                184
                                                             169                     179              2,827
                                         134
                                                     115

   2014    2015       2016     2017     2018        2014    2015    2016     2017    2018             2014      2015      2016      2017      2018

                                                                                             Investor Relations Presentation - DOAS Profile - 2019 | 13
Margins

Gross Profit Margin (%)                                  OpEx/Sales (%)                                 EBITDA Margin (%)

                                                                                              8% max
                                         12.2%              7.1%                            7.2%                                                    5.7%
  11.3%
                            Avg 11-12%          Target             6.1%    6.1%      6.3%
           10.2%                                                                                            4.7%      4.6%
                    9.7%   9.8%
                                                                                                                                4.1%      4.2%

   2014    2015     2016   2017          2018               2014   2015    2016      2017   2018            2014      2015      2016      2017      2018

Net Profit Margin (%)                                    Net Financial Debt/EBITDA                      Net Financial Debt/Total Equity

   3.3%                                                                    5.43                                                 2.40
                                                                                     5.16
                                                                                                                                          2.16
           2.8%
                                                                                            3.84                                                    1.79
                                                                   3.70
                    2.0%
                                                                                                                       1.37
                                                            2.80
                           1.4%          1.3%
                                                                                                            0.84

   2014    2015     2016   2017          2018               2014   2015    2016      2017   2018            2014      2015      2016      2017      2018

                                                                                                   Investor Relations Presentation - DOAS Profile - 2019 | 14
2019 New Launches

NEW            NEW   NEW              NEW                FACELIFT                NEW                     NEW
 T-Roc          Q3    Cayenne Coupe    New Models:         Superb                 LNG Series              T-560R model
 Crafter              911              Bentley New GTC                                                    new TK unit
 Transporter          Cayman GT4       New Bentley                                                        Solar Panel 24V
                      Taycan           Flying Spur
FACELIFT                               Lamborghini /
  Passat FL                            Huracan Evo

                                                                    Investor Relations Presentation - DOAS Profile - 2019 | 15
Doğuş Otomotiv Strategic Goals
BE SIZABLE – BE CLOSE – BE CREATIVE

 One Step Beyond Customer Satisfaction: Turning        Achieving Operational Excellence through
 Customers into Fans!                                  Increased Efficiency!
 • The Value and Care Centre (DİM)                     • “Turkuaz” internet-based and mobile device
 • Connectivity and accessibility in customer            compatible software
   communications                                      • Continuous improvement for a more productive
 • Virtual Showroom Concept - “Audi City”                ecosystem
                                                       • New technologies in supporting Personnel
                                                         Infrastructure
                                                       • Lean Management practices and processes

 Maintaining Presence in the Automotive Market!        The First Condition of Creating a Happy Customer is
 • Optimum balance of profitability and market share   Happy Employees!
 • “Creative Service Beyond Expectations” vision       • BİR’İZ (Together) Employer Brand
 • Principle of Customer Satisfaction - Focused Work   • GO- Development School Platform
 • Fully focusing on domestic operations               • “Talent Management” and “Equality at Work”
                                                       • DRIVE- Doğuş Automotive’s Route Human and Training
                                                         Project to enhance human resources within the
                                                         network.
                                                       • GONK Seminars
                                                       • “Young Women’s Development Project in Partnership
                                                         with TEV”

                                                                     Investor Relations Presentation - DOAS Profile - 2019 | 16
Digital Transformation Strategy of DOAS

Doğuş Otomotiv Road Map for Digital Vision                            Solutions expected to
                                                                    generate ~100M TRY/year
                                                                        cash after 8 years
                       Personalization

                                                                     Impact of all 44 solutions
       Analytics
                                         Vehicle digital
     empowered
                                         twin
    E2E planning                                                                  ~100M TRY
                                                                                   cash per
                    Eight cornerstones                                               year
  Digitized               to drive            Omni-channel
 operations          Dogus Otomotiv’s         integration
                       digital vision
                                                                        ~75M                          ~25M
         Backend                                                     TRYgrowth                    TRYefficiency
                                         Digitized dealer              related                       related
      automation
                                         of the future
 and acceleration

                                                                       ~30M TRY investment
                       Transparency &                                    in the first 3 years
                          steering
                                                                    Self funding after 1.5 year

                                                             Investor Relations Presentation - DOAS Profile - 2019 | 17
Macroeconomic Outlook

              Investor Relations Presentation - DOAS Profile - 2019 | 18
Macroeconomic Indicators

 YoY Inflation (%)                                                                                                                              Annual CPI                           Annual PPI               Nominal Exchange Rates                                                                                                                                  US$/TRY      EUR/TRY
                                                                                                                                                                                                                                                                                                                                                                     Basket (0.5US$+0.5EUR)

50.00                                                                                                                                                                                           8.00
                                                                                                                                                                                46.15%
45.00                                                                                                                                                                                           7.50
40.00
                                                                                                                                                                                                7.00                                                                                                                                                                                                          6.67
                                                                                                                                                                                                6.50                                                                                                                                                                                                          6.31
35.00                                                                                                                                                                                    30.12% 6.00                                                                                                                                                                                                          5.96
30.00                                                                                                                                                                                           5.50
                                                                                                                                                                                     25.24%     5.00
25.00                                                                                                                                                                                           4.50
20.00                                                                                                                                                                                           4.00
                                                                                                                                                                                         19.50% 3.50
 15.00                                                                                                                                                                                          3.00
                                                                                                               8.79%
10.00                                                                                                                                                                                           2.50
                                                                                                                                                                                                2.00
  5.00                                                                                                                       1.78%                                                               1.50
  0.00                                                                                                                                                                                          1.00
-5.00
         01-14
                 04-14
                         07-14
                                 10-14
                                          01-15
                                                   04-15
                                                            07-15
                                                                      10-15
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                                                                                                                                                                                              01-19
                                                                                                                                                                                                      04-19

                                                                                                                                                                                                                     04-14

                                                                                                                                                                                                                               08-14

                                                                                                                                                                                                                                               12-14

                                                                                                                                                                                                                                                         04-15

                                                                                                                                                                                                                                                                         08-15

                                                                                                                                                                                                                                                                                   12-15

                                                                                                                                                                                                                                                                                               04-16

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                                                                                                                                                                                                                                                                                                                                                                       04-18

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                                                                                                                                                                                                                                                                                                                                                                                               12-18

                                                                                                                                                                                                                                                                                                                                                                                                           04-19
 Auto Loan Rates (%)                                                                                                                                                                              TRY         Consumer Confidence Index                                                                                                               Consumer Confidence Index
                                                                                                                                                                                                                                                                                                                                                            Retail Sales Total LV

 3.20                                                                                                                                                                                        3.09%
                                                                                                                                                                                                              80.0                                                                                                                                                                                     180,000
 2.70                                                                                                                                                                                                                                                                                                                                                                                                  160,000
                                                                                                                                                                                                              75.0                                                                                                                                                                                     140,000
 2.20
                                                                                                                                                                                                                                                                                                                                                                                                       120,000
                                                                                                                                                                                                              70.0
 1.70                                                                                                                                                                                                                                                                                                                                                                                                  100,000
                                                                                                                                                                                                                                                                                                                                                                                                       80,000
 1.20                                                                                                                                                                                                         65.0
                                                                                                                                                                                                                                                                                                                                                                                                       60,000
                                                                                                                                                                                                              60.0                                                                                                                                                                                     40,000
 0.70
                                                                                                                                                                                                                                                                                                                                                                                                       20,000
 0.20                                                                                                                                                                                                         55.0                                                                                                                                                                                     0
                                                                                                                                                                                                                     04-14
                                                                                                                                                                                                                             07-14
                                                                                                                                                                                                                                       10-14
                                                                                                                                                                                                                                                01-15
                                                                                                                                                                                                                                                        04-15
                                                                                                                                                                                                                                                                 07-15
                                                                                                                                                                                                                                                                           10-15
                                                                                                                                                                                                                                                                                   01-16
                                                                                                                                                                                                                                                                                           04-16
                                                                                                                                                                                                                                                                                                   07-16
                                                                                                                                                                                                                                                                                                           10-16
                                                                                                                                                                                                                                                                                                                   01-17
                                                                                                                                                                                                                                                                                                                           04-17
                                                                                                                                                                                                                                                                                                                                    07-17
                                                                                                                                                                                                                                                                                                                                            10-17
                                                                                                                                                                                                                                                                                                                                                     01-18
                                                                                                                                                                                                                                                                                                                                                               04-18
                                                                                                                                                                                                                                                                                                                                                                       07-18
                                                                                                                                                                                                                                                                                                                                                                               10-18
                                                                                                                                                                                                                                                                                                                                                                                       01-19
                                                                                                                                                                                                                                                                                                                                                                                               04-19
         04-09

                 10-09

                         04-10

                                  10-10

                                           04-11

                                                    10-11

                                                              04-12

                                                                        10-12

                                                                                   04-13

                                                                                              10-13

                                                                                                       04-14

                                                                                                                10-14

                                                                                                                           04-15

                                                                                                                                      10-15

                                                                                                                                                04-16

                                                                                                                                                          10-16

                                                                                                                                                                   04-17

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                                                                                                                                                                                     04-18

                                                                                                                                                                                             10-18

                                                                                                                                                                                                      04-19

                                                                                                                                                                                                                                                                   Investor Relations Presentation - DOAS Profile - 2019 | 19
Population & Demography

    Population Statistics (’000)                                                                                         Age Demography                                                                                                                                    Young population is a main
                                                                                                                                                                                                                                                                           driver in Turkey.
                                                                                        107,095                                                                                           Above
                                                                     100,331                                                                13%                                                                                         15%
                                                                                                                                                                                           60

                     81,867
                                                 86,907                                                                                                                                                                                                                    Population is expected to grow
                                                                                                                                           32%                                                                                                                             above 10%.
                                                                                                                                                                                         35-59                                          33%

                                                                                                                                                                                                                                                                           Over 50% of the population will
                                                                                                                                            31%                                           15-34
                                                                                                                                                                                                                                        30%                                be between the age group of 15
                                                                                                                                                                                                                                                                           to 59 years by 2060.
                                                                                                                                           23%                                             0-14                                         23%
                                                                                                                                                                                                                                                                           Median age is expected to
                               2018                2023               2040                  2060                                            2018                                                                                    2023
                                                                                                                                                                                                                                                                           increase by 9% by 2060.
    Economy                                                                                                              Auto Industry Trade Balance (US$ bn)
                                              Real GDP          GDP YoY Growth                                                                  Trade Deficit                                   Export                          Import
                                 1.8                                                        12.0
GDP - (Billion Turkish Lira)

                                                                                                                        30.00
                                 1.6                                                        10.0
                                                                                                   GDP YoY Change (%)

                                                                                            8.0                         25.00
                                 1.4
                                                                                            6.0                         20.00
                                 1.2
                                                                                            4.0                         15.00
                                 1.0
                                                                                            2.0
                                0.8                                                                                     10.00
                                                                                            0.0
                                0.6                                                                                      5.00
                                                                                            -2.0
                                0.4                                                         -4.0                         0.00
                                0.2                                                         -6.0                        -5.00
                                0.0                                                         -8.0                                                                                                                                                                        Note: All figures are rounded.
                                                                                                                                01/03
                                                                                                                                        01/04
                                                                                                                                                01/05
                                                                                                                                                        01/06
                                                                                                                                                                01/07
                                                                                                                                                                        01/08
                                                                                                                                                                                01/09
                                                                                                                                                                                        01/10
                                                                                                                                                                                                01/11
                                                                                                                                                                                                        01/12
                                                                                                                                                                                                                01/13
                                                                                                                                                                                                                        01/14
                                                                                                                                                                                                                                01/15
                                                                                                                                                                                                                                        01/16
                                                                                                                                                                                                                                                01/17
                                                                                                                                                                                                                                                        01/18
                                                                                                                                                                                                                                                                01/19
                                       989900 01 0203040506070809 10 11 12 13 14 15 16 17                                                                                                                                                                               Source: TurkStat

                                                                                                                                                                                                                                                                Investor Relations Presentation - DOAS Profile - 2019 | 20
Automotive Market

              Investor Relations Presentation - DOAS Profile - 2019 | 21
Turkish Light Vehicle Wholesale Performance - Market vs. DOAS

  LV Wholesale Market (thousand)        DOAS LV Wholesale (thousand)         DOAS Market Share %

1,000
                                                                                                                               994                                   25%
                                                                                                                 972
                                                                                                                                             957
 900
                                                         871                         852
 800
                                                                       779                                                                                           20%
                                           761                                                     762                 20.8%         21.2%         19.1%
                                                                                                         20.1%
 700
                                                                                                                                                           17.3%
                                                                                           17.9%
                                                                                                                                                           600
 600                                                                                                                                                                 15%
                                                                             15.9%
                           553

 500         496
                                                               12.6%
 400                                             11.3%                                                                                                               10%
                 10.6%
                                 9.0%
 300

                                                                                                                   202               211
 200                                                                                                                                           183
                                                                                           152           153                                                         5%
                                                               109           124
                                                                                                                                                             104
                                                 86
  100              53            50

    0                                                                                                                                                                0%
              2008          2009            2010          2011          2012           2013         2014          2015          2016          2017          2018
Source: Automotive Distributors Association, DOAS performance includes Škoda sales.

                                                                                                                       Investor Relations Presentation - DOAS Profile - 2019 | 22
DOAS Wholesales Performance

WHOLESALES (unit)                                2018        2017     Change              2016                 2015                 2014

VW                                              61,563     119,384      -48%            137,143            140,088               108,325
 VW PV                                         45,388       91,343      -50%           104,410             106,677                 85,134
 VW LCV                                         16,175      28,041      -42%             32,733               33,411               23,191
AUDI                                           12,969        21,172     -39%             22,105              21,100               17,070
PORSCHE                                             481        700       -31%               881                 877                   601
BENTLEY                                              10          16     -38%                  9                   19                   21
LAMBORGHINI                                           3           7     -57%                  7                    6                    2
SEAT                                            8,640       17,002      -49%            20,976                17,212              12,540
ŠKODA                                          20,425        24,714      -17%           30,004               22,435                14,397
PC TOTAL                                       87,916     154,954       -43%           178,392             168,326               129,765
LCV TOTAL                                       16,175      28,041      -42%            32,733                33,411               23,191
LV TOTAL                                      104,091     182,995       -43%            211,125            201,737               152,956
SCANIA                                            1,177       1,697      -31%             2,050                3,291                2,014
GRAND TOTAL                                   105,268     184,692       -43%            213,185            205,593               155,995
MARKET SIZE*
PV                                            469,882     722,168       -35%           765,467              726,477              582,117
LCV                                            130,104    234,654       -45%           228,446              245,027              179,919
HCV                                              11,754    18,554       -37%            18,343               33,652               31,061
TOTAL                                          611,740    975,376       -37%         1,012,256            1,005,156             793,097

DOAS Market Share
PV                                              18.7%       21.5%                        23.3%                23.2%                22.3%
LCV                                              12.4%       11.9%                       14.3%                 13.6%               12.9%
HCV                                             10.0%         9.1%                        11.2%                 9.8%                6.5%
TOTAL                                           17.2%       18.9%                         21.1%               20.5%                19.7%

Source: Automotive Distributors Association

                                                                                Investor Relations Presentation - DOAS Profile - 2019 | 23
Turkish Automotive Industry

Production vs Sales                               GDP vs Auto Sales                                         Breakdown of Vehicles*
  Sales      Production                             Change in Auto Sales (left axis)
                                                    Change in GDP (right axis)                                                                  Total Number of
1,800                                             150%                                                15%                                       Road Motor Vehicles:
1,600                                                                                                                                           22 mn units
1,400                                             100%                                                10%

1,200                                                                                                                                                Car 54%
                                                   50%                                                5%                                             Small truck 16%
1,000
                                                                                                                                                     Motorcycle 14%
 800                                                0%                                                0%                                             Tractor 8%
                                                                                                                                                     Truck 4%
 600
                                                                                                                                                     Minibus 2%
 400                                              -50%                                                -5%                                            Bus 1%
 200
   0                                              -100%                                              -10%
        2004
         1996
         1997
         1998
         1999
        2000
         2001
        2002
        2003

        2005
        2006
        2007
        2008
        2009
         2010
          2011
         2012
         2013
         2014
         2015
         2016
         2017
         2018

                                                          2000
                                                           2001
                                                          2002
                                                          2003
                                                          2004
                                                          2005
                                                          2006
                                                          2007
                                                          2008
                                                          2009
                                                           2010
                                                            2011
                                                           2012
                                                           2013
                                                           2014
                                                           2015
                                                           2016
                                                           2017
                                                           2018
                                                                                                            Source: General Directorate of Public Security

Auto Industry Segmentation*                       Auto Engine Segmentation*                                 Vehicle Ownership Per Capita**
  PC      LCV                                      PC      LCV                                              Parc Density / 1000 Inhabitants

                                    70%              96%
   66%                                                                                                                                 596         597        579

            50%               49%

                                                                                                                           334
                        29%
                                                                                                               205
                                                                                                27%
                                                             23%
                                            11%                                  14%
                                                                          3%              1%

        Import            Diesel      A/T           below 1600 cc     between 1600 cc   above - 2000 cc      Turkey     Romania         UK       Germany     Greece
                                                                         - 2000 cc
* As of December 2018                                                                                       ** ACEA Report Vehicles in use Europe 2018

                                                                                                      Investor Relations Presentation - DOAS Profile - 2019 | 24
Turkish Automotive Industry

Oil Prices in Turkey (TRY) (2005-2019)                                                                                                                                                            Oil Prices (Liter, TRY) (20.05.19)

7                                                                                                                                                                                                             11.19
                                                                                                                                                                                                    10.95
6                                                                                                                                                                                                                        10.16      9.83
5
                                                                                                                                                                                                                                                                   7.57
4                                                                                                                                                                                                                                                    7.11
                                                                                                                                                                                                                                                                                 6.58
3                                                                                                                                                                                                                                                                                          5.06
2

1

0
      01.01.05

                 01.01.06

                                 01.01.07

                                             01.01.08

                                                        01.01.09

                                                                   01.01.10

                                                                                 01.01.11

                                                                                             01.01.12

                                                                                                         01.01.13

                                                                                                                         01.01.14

                                                                                                                                      01.01.15

                                                                                                                                                 01.01.16

                                                                                                                                                            01.01.17

                                                                                                                                                                           01.01.18

                                                                                                                                                                                       01.01.19
                                                                                                                                                                                                     Italy   Greece    Germany          UK      Turkey         Bulgaria          China     USA

SCT Rates in Turkey (%)                                                                                 2000 cc           Average Vehicle Age in Turkey
(Passenger Cars)
                                                                                                                                                                       160             160
160                                                                                                                                                  145                                                                                                                            23.2
                                                                                                                130                 130
120
                                                                                                                                                                       100            100(*)                                                                15.9
                                             84                                84            84                                                     90
                                                             80                                                     80               80                                                             13.4
80                          75                                                                                                                                                                               12.6      13.1      12.9                                     13.1                13.4
        50                                  60                54               60            60                                                                                                                                              11.0
                            52                                                                                                                       45                45                                                                                                                    Motor
                                             37                                              37                     37               40
40      46                  30                                                                                                                                                        30(**)                                                                                               Vehicles
                                                              18               27                                                                                                                                                                                                          Average
        27
0
      08-02            01-03                11-04       03-09                 06-09         10-09              01-11                09-12        01-14                 11-16          09-18
(*)
     100% for sale price of TRY 170K.
(**)
      30% for sale price of TRY 120K, respectively.				                                                                                                                                                                  Vehicles                                   Truck

                                                                                                                                                                                                                        Investor Relations Presentation - DOAS Profile - 2019 | 25
Core Business Lines

               Investor Relations Presentation - DOAS Profile - 2019 | 26
Import and Distribution

                                                                                               Having successfully raised its market share to 12.7% in 2018, VW CV maintained its third
        Thanks to the successful product and communication strategies followed in 2018,        ranking in the total market and its leadership in imported commercial vehicle sales.
        Volkswagen Passenger Cars maintained its position, ranking second in the PC
        market with 10.2% market share.                                                        The New Amarok Canyon sportive model of Volkswagen Amarok that was the owner
                                                                                               of the 2018 International Pick-up Award was launched in the 1st quarter of 2018 and
        VW was voted the most loved car brand of the year for the 6th consecutive year in      the New Amarok Aventura 258 PS model was placed on the market in the 2nd half of
        the survey conducted by MediaCat Ipsos. It received the Silver Apple with its          the year. The sales of the completely renewed last generation of Crafter vehicles
        “Rear View Campaign” and the Bronze Apple with its “Night Vision System” ads.          were started in the beginning of the 2nd quarter of the year.
        The “Return Campaign” was also awarded with the Felis Award. VW PC won the
        Gold Stevie award in the “Best Management of Instagram” category.                      Volkswagen CV received an award in the “Commercial Automotive” category of
                                                                                               A.L.F.A Awards and evaluating the brands with best customer experience
                                                                                               management. VW CV Turkey became the World Winner in the STLI (Service Technik
                                                                                               Leistung Indizen) evaluation with its success in after-sales services.

        Audi Turkey, which made digitalization the focus of its business processes, was
        cited by Audi AG as benchmark to other countries. 2018 has been a year full with       With its “Your business is our priority” motto, Scania had another achievement by
        new launches for Audi brand, which was started to be imported to Turkey by             completing the year 2018 with a 10% share in the entire market and 18% share in the
        Doğuş Otomotiv in 1994, and four new models, i.e. A8, A7, A6 and Q8, have been         tractor unit market.
        launched. 13,295 units of cars were sold in 2018. With its 72% customer loyalty rate
                                                                                               Presenting its customers on the roads of Turkey its new generation vehicles it
        that is exemplary in Europe, a 21.2% increase has been achieved in its aftersales
                                                                                               started manufacturing as a result of 10 years of research and development, 2 billion
        services turnover in 2018.
                                                                                               Euros worth investments, and over 10 million kilometers of test driving; Scania
                                                                                               continued to provide comfort and driving experience exceeding standards. Having
                                                                                               reached 202,000 users in its Facebook account in 2018, Scania also continued to
        SEAT had a market share of 2.14% by selling 10,383 units of passenger cars in 2018.    maintain its presence on the Instagram, LinkedIn and Google Plus platforms.
        With its Interactive Graffiti Giantboard that SEAT prepared for Arona, SEAT Turkey     Demonstrating its customer satisfaction focus with one of the sector’s pioneering
        won the Best Outdoor of the Year award given by the jury at the 2018 Gladiators        applications “Scania’m Sapasağlam”, Scania successfully commissioned “Scania’m
        ceremony that organized by Automotive Distributors Association.                        Cepte” app in 2018 with 7,000 downloads.

        Thanks to the contribution of the communication activities, SEAT’s brand
        awareness rose to 29.5% in 2018.                                                       Scania Engines has maintained its position among the top 10 in the classification
                                                                                               made by Scania CV worlwide.
                                                                                               Scania Engines increased its market share to higher levels in the generator engine
        Having maintained its rising uptrend by increasing its market share by 28.5% in        segment also in 2018 and maintained its steady rise in this area.
        2018, ŠKODA Turkey placed its new SUV model Karoq on the market and launched
        its renewed Fabia during the year.                                                     With its low emission values and high-tech products as well as its newly developed
                                                                                               gas-fuelled engine model, Scania Engines has increased the service quality that it
                                                                                               offers its customers in every field also in 2018.

        On its way to celebrate its 100th year in 2019, Bentley has further consolidated its
        competitive position with the launch of the New Continental GT model in Turkey         Thermo King has introduced electrical new-generation B-series units to users as of
        in 2018. Lamborghini has taken the brand recognition in the upper luxury segment       the second half of 2018. This range of products energized by the battery of the
        to much higher levels with Urus, the world’s first super SUV that was placed on        vehicle creates difference with their low energy consumption and their light weight.
        the market in the last quarter of the year.                                            The bluebox equipment, enables users to connect to their units and to respond to
        In 2018, Bentley sold 10 in total and Lamborghini sold 3 units of vehicles.            any situation on a real time basis thanks to its bluetooth technology. The bluetooth
                                                                                               system enabling simultaneous transportation of products requiring different
                                                                                               temperatures within the same frame a standard feature also in its Spectrum
                                                                                               models, Thermo King continued to be most important assurance in sensitive
        Porsche celebrated its 70th year. In 2018, the highest-selling model of Porsche was    pharmaceuticals and food transportation.
        Macan with 341 units sold and the 911 model has become the leader in the               Silent engine technology, which is indispensable for urban transportation, is offered
        premium sports cars segment again this year.                                           with the Thermo King Whisper range.

                                                                                                   Investor Relations Presentation - DOAS Profile - 2019 | 27
Retail > DOĞUŞ OTO

 Doğuş Oto represents seven brands (VW
 Passenger Cars, VW Commercial Cars, Audi,       represents
 Porsche, SEAT, Škoda, and DOD), for which
 it sells new and second-hand vehicles,
 spare parts, and accessories at a total of 37
 Authorized Dealers and 33 Service points in
                                                 7 brands
 Istanbul, Ankara, Bursa and Kocaeli; it also    one-stop shopping
 offers its customers insurance, financing,
 and after-sales support services.               concept
 Doğuş Oto operates on a total area
 of 278,480 square meters with 1,435
 employees.
 Doğuş Oto sold 40,341 new vehicles and its
 share in the retail sales volume of Doğuş
                                                 operating on

                                                 278,480 sqm
 Otomotiv was 35.6% in 2018.
 With a total of 300,509 service entries, 2018
 was a year when the financial targets were
 exceeded.
 Doğuş Oto Gebze started to operate on
                                                 total area
 an area of 12,500 square meters in 2018 in
 order to provide Volkswagen Passenger
 Cars and Volkswagen Commercial Vehicles
 Authorized Dealer and aftersales services.
 SEAT showrooms that were renewed with
 a young and dynamic concept were put            Share of
 into service for customers at Doğuş Oto
 Esenyurt, Doğuş Oto Maslak and Doğuş
 Oto Çankaya in 2018.                            35.6%
                                                 DOAS sales in 2018

                                                                      Investor Relations Presentation - DOAS Profile - 2019 | 28
Retail > Škoda

New Corporate Identity and Design
Standards                                        2018 Sales

                                                 21,340
   Yüce Auto started the disribution of
   Škoda brand vehicles in 1989.
   In 1998 50% partnership with Doğuş
   Otomotiv started.                             units
   Having maintained its rising uptrend
   by increasing its market share by 28.5%
   in 2018, ŠKODA Turkey placed its new
   SUV model Karoq on the market and
   launched its renewed Fabia during the         2018 Market Share
   year.
   Attracting attention among D Segment
   luxury models, SuperB became the best-
                                                 4.4%
   selling model of Škoda with a sale figure
   of 7,871 units of vehicles in 2018.
   Karoq, the continuation of the ŠKODA
   brand’s SUV attack, succeeded in
   drawing interest in a short period of time
   after its launch in May and realized a
   sales of 1,929 units of vehicles although a
                                                 Market Share
   full year of operation has not yet passed.    Growth
                                                 28.5%
                                                 in 2018

                                                                     Investor Relations Presentation - DOAS Profile - 2019 | 29
Replacement Parts and After Sales Services > Parts & Logistics

 Spare Parts and Logistics employs state-
 of-the-art technology combined with the
 best modern synergistic practices, creating
 unmatched levels of service for the global
                                                 99%
 brands that Doğuş Otomotiv represents.

 In 2018, Spare Parts and Logistics imported
                                                 availability
 86,194 vehicles, and dispatched 104,136         in Spare Parts
 vehicles to Authorized Dealers, ending the
 year with a total revenue of TRY 1,306.7
 million generated by the sales of spare
 parts and accessories.

 Spare Parts and Logistics uses advanced         Revenues from Spare
 computer technologies and inventory             Parts and accessories are
 management systems, which can be easily

                                                 TRY 1,306.7
 adapted to various demands of customers,
 to run its operations smoothly. As a result,
 spare parts availability was maintained at
 99% in 2018 like the previous year, thus
 significantly reducing the amount of stock
                                                 million
 held.

 As the “shipment from the port” project
 that Spare Parts and Logistics implemented
 as a part of its pioneering vision in vehicle   104,136
                                                 vehicles
 logistics continued with high capacity
 for vehicle storage and importation at
 the ports, significant improvements
 were achieved in client delivery times by
 working with more than one transportation       dispatched
 company for vehicle deliveries from ports
 to authorized dealers.

                                                                             Investor Relations Presentation - DOAS Profile - 2019 | 30
Used Vehicle Sales > DOD

 The diversity of brands and models in
 supply of vehicles was further increased    sales - 2018
 through new agreements with fleet
 companies in 2018.
 The Regulation on the Trade of Used
                                             21,767
 Motor Land Vehicles was put into force      vehicles
 on February 13, 2018. It is compulsory to
 provide the services like warranty and
 expertise survey, which were already
 offered by DOD to its customers before
 the said regulation took effect.
 Further improvements to the                 largest corporate
 infrastructure as directed by the
 regulation towards the other standards      retailer of the used
 were started in 2018 and preparations
 were largely completed.
                                             car business                DOD Sales Performance

 DOD is the largest corporate retailer of                                             23,125
 the used car business.
                                                                                                22,534
 DOD provides services in Turkey with 61
 customer points.                            providing services                                           22,009
                                                                                                                     21,767

                                             61
 The total sales by DOD Authorized
 Dealers were realized as 21,767 units in                                  21,120
 2018.
 DOD.com.tr and DOD Mobile were              customer points in
 renewed.
                                             Turkey
                                                                            2014       2015      2016       2017      2018

                                                                    Investor Relations Presentation - DOAS Profile - 2019 | 31
Automotive Related
Ancillary Business

              Investor Relations Presentation - DOAS Profile - 2019 | 32
Finance > VDF

 The JV company was established on
 20 December 1999 to provide financing         new contracts
 for Doğuş Otomotiv Group Brands’              2012: 51,177 units (23% yoy increase)
 customers. The established JV company         2013: 60,180 units (18% yoy increase)
 is owned by Doğuş Holding (1%), Doğuş         2014: 58,338 units (3% yoy decrease)
 Otomotiv (48%) and Volkswagen                 2015: 78,111 units (34% yoy increase)
 Financial Services AG (51%).
                                               2016: 86,433 units (11% yoy increase)
 Offering products and services                2017: 67,733 units (28% yoy decrease)
 nationwide, VDF ensures ease of mind          2018: 54,793 units (19% yoy decrease)
 for its customers by providing Vehicle
 and Service Credits from a single point:      credits given
 the Authorized Dealer.
                                               2012: TRY 1,906 mn (27% yoy increase)
 In 2018, vdf aimed to increase customer       2013: TRY 2,531 mn (33% yoy increase)
 satisfaction and customer loyalty
                                               2014: TRY 2,870 mn (13% yoy increase)
 through sale, marketing and customer
                                               2015: TRY 4,345 mn (51% yoy increase)
 loyalty campaigns it jointly organized
                                               2016: TRY 5,163 mn (19% yoy increase)
 with the brands. According to the results
                                               2017: TRY 5,522 mn (7% yoy increase)
 of the survey it made in 2018, vdf scored
 much higher than the world and Europe         2018: TRY 4,957 mn (10% yoy increase)
 averages in customer satisfaction
 assessments compared to the previous          portfolio
 year. According to the survey, 9 out of 10
 people stated that they would want to         2012: 91,257 units (34% yoy increase)
 work with vdf again.                          2013: 111,783 units (22% yoy increase)
                                               2014: 121,905 units (9% yoy increase)
 In 2018, new credit contracts realized        2015: 146,046 units (20% yoy increase)
 as 54,793 units with a total amount of        2016: 160,727 units (10% yoy increase)
 TRY 4,957 million increasing the total        2017: 147,671 units ( 8% yoy decrease)
 portfolio to 129,945 units.                   2018: 129,945 units ( 12% yoy decrease)
                                              Incl. Scania and Man Finance

                                                                                         Investor Relations Presentation - DOAS Profile - 2019 | 33
Finance > VDF INSURANCE

  VDF Insurance, as an agent for 13 insurance                                           Number of Insurance Contracts
  companies, provides services & products to              number of policies
  its customers such as motor insurance, traffic                                                  314,757    313,129     323,975
                                                                                                                                   306,771

                                                          it will be 1,2x
  insurance, credit protection insurance and                                            256,554
  extended warranty.
  VDF Insurance works with the Authorized Dealers
  of VW Group brands in Turkey. The number of its
  branches in 2018 is 30.                                 in 5 years
  VDF Insurance increased the production of its
  policies to TRY 397 million in 2018.
                                                                                          2014      2015      2016         2017      2018

Finance > VDF FACTORING                                   number of VDF
                                                                                        Insurance Penetration
                                                                                        Motor Insurance               Extended Warranty
  Active since May 2010, VDF Factoring Services
  offers factoring and financing services to 112          Insurance branches is                             60%
                                                                                                                       16% 16% 15%
                                                                                                                                            21%
                                                                                                    45%                            14%
  Autorized Dealers of Doğuş Otomotiv. In 2018,                                         41% 44% 44%
  VDF Factoring reached a transaction volume of
  TRY 11.4 billion and a total asset value of TRY 1,059
  million. VDF Factoring aims to increase its
                                                          30
  business volume further in 2019.

                                                                                        2014 2015 2016 2017 2018      2014 2015 2016 2017 2018

                                                                                        Development of Assignments (TRY million)
Operational Fleet Renting > transaction volume
                                                                                          DOAS     Yüce     Other
VDF FLEET                                                                                                                  2,000

  VDF Filo was established in March 2016
  Fleet ERP processes and procedures were built
                                                          TRY 11.4 bn                      693
                                                                                                    1,100
                                                                                                    8,800
                                                                                                                600
                                                                                                               9,600
                                                                                                                           1,500
                                                                                                                          10,000
                                                                                                                                      2,300
                                                                                                                                      1,500
                                                                                                                                      7,600
  up			                                                   in 2018                         5,979
  Active contracts were around 6,200 in 2018.
  VDF Filo is expected to reach more than 8,500
  contracts in 2019.
                                                                                          2014       2015      2016         2017      2018

                                                                                  Investor Relations Presentation - DOAS Profile - 2019 | 34
Other Investments > TÜVTÜRK

TÜVTÜRK – a cash cow business of DOAS, Bridgepoint
and TÜV SÜD
    TÜVTÜRK consortium was granted by Turkish
                                                             rights to build & operate

                                                             20 years
    Privatization Administration the right to build &
    operate MVISs in Turkey for 20 years in exchange of
    US$ 552 million.
    189 fixed and 73 mobile inspection stations are fully
    operational as of end-1Q09, with an investment of
    US$ 300 million.                                         in exchange of
    Operation fees were collected from the
    suboperators (Business associates (BA)) in exchange      US$ 552 mn
    for the prepared stations for operations.
         The BAs will share their revenues with the
         government: 1st-3rd years: 30%; 4-10th years: 40%
         and 11-20th years: 50%
         ...and with TÜVTÜRK consortium: 1st-10th years
                                                             expected revenues

                                                             US$ 15 bn
         7% and 11-20th years: 20%
    The MVIS business is expected to generate
    US$ 15 billion revenues in 20 years with
    US$ 2.5 billion EBITDA.
    At the end of the 11th year, nearly 73.5 million         in 20 years
    vehicles have been inspected and 22.6 million
    vehicles underwent exhaust gas emission
    measurements. 26.3 million vehicles were re-
    inspected and enabled over 25.2 million unsafe cars
    to return safely back into traffic once again.
    In 2018, periodic inspections of 9.5 million vehicles
    were completed and 3.7 million vehicles underwent
    exhaust gas emission measurements.
                                                             expected ebitda

                                                             US$ 2.5 bn
    According to the research entitled “Analysis of
    the Economic Impact of Road Safety and Periodic
    Vehicle Inspection Application in Turkey” conducted
    by CITA in 2017 under the leadership of Prof. Dr.
    Wolfgang G. Schulz and Sebastian Scheler; there is
    an average saving of 340 million US$ per year which
                                                             in 20 years
    is contributed to Turkish economy as a result of the
    traffic accidents avoided through TÜVTÜRK vehicle
    inspection system.

                                                                                         Investor Relations Presentation - DOAS Profile - 2019 | 35
Other Investments > Doğuş Teknoloji

Growing with new investments
   Doğuş Teknoloji creates a wide scope of           Affiliate
   software products and services that answer

                                                     46%
   to actual demands and that reflect strong
   technological and operational experience and
   sectoral expertise.
   Established in September 2011, Doğuş Teknoloji
   is owned 54% by Doğuş Holding and 46% by
                                                     Doğuş Otomotiv
   Doğuş Otomotiv.
   A new building is established on neighboring
   premises of Doğuş Otomotiv headquarters.
   The main areas of Doğuş Teknoloji’s expertise
   include designing software and information
   systems that responds to analysis of business
   requirements (i.e. business process automation,
                                                     Established

                                                     2011
   reporting, security, etc.), development,
   installation, updating, maintenance, error
   fixing and integration of projects into these
   systems, maintaining security, monitoring
   performance and reporting abnormalities,
   consultancy services, and managing all of all
   these processes.
   Doğuş Teknoloji has “ISO/IEC 27001:2013
   Information Security Management System”,
   “ISO 22301:2012 Business Continuity

                                                     ISO & ITIL
   Management Systems” and “ISO/IEC
   20000-1:2011 Service Management System”
   certifications in the scope of e-invoice
   application and related processes.
   Doğuş Teknoloji has “ISO/IEC 27001:2013           Certified
   Information Security Management System”,
   “ISO 22301:2012 Business Continuity
   Management Systems” and “ISO/IEC
   20000-1:2011 Service Management System”
   certifications in the scope of e-invoice
   application and related processes.

                                                                      Investor Relations Presentation - DOAS Profile - 2019 | 36
Corporate Governance

              Investor Relations Presentation - DOAS Profile - 2019 | 37
DOAS: First GRI reporter in automotive sector in Turkey

Economic Impact                                                                                Corporate Sustainability (CS)
• Risk Management                                                                              at Doğuş Otomotiv
  • Legislative Regulations
    • Financial Risks                                Environmental Impact
    • Sustainable Supply Chain
                                                                                                   The UN Global Compact was signed
    • Sustainability Awareness                       • Environmental Management                    in May 2010.
• Operational Sustainability                           • Electrical Automobiles
  • Customer Relations                                 • Environmental Risk Management             Our 10th Corporate Sustainability
    Management                                         • Climate Change Risks
  • Digitalization                                                                                 Report is published as “GRI G4
  • Technologic Support
• Market Presence
                                                                                                   Comprehensive Report”. We were
  • New Products and Services                                                                      the first in the automotive sector.
  • Product – Price Strategy
  • 2nd Hand Automotive Market                                                                     For the fourth consecutive year,
                                                                                                   Doğuş Otomotiv has been included
                                    Approach to                                                    in the BIST Sustainability Index,
                                                                                                   which is composed of companies
                                    Sustainability        Strategy                                 with highest corporate sustainability
Social Impact                                               and                                    performances whose shares are
                                                           Vision                                  traded in the Borsa Istanbul, for
• Community Engagement
  • Traffic is Life! Platform                                                                      the period from November 2018 to
• Human Rights
  • Gender Equality                                                                                October 2019.
• Business Ethics
  • Governmental Institutes
    Relations
  • Code of Ethics Implementation
    Process
• Employees and Work Place
                                                        FIRST GRI
  Environment                                         REPORTER IN
  • Employee Loyalty
  • Authorized Dealers Employee                       OUR SECTOR
    Circulation
  • Technical Staff Circulation                        IN TURKEY
  • Employee Trainings
  • Health and Safety

                                                                                         Investor Relations Presentation - DOAS Profile - 2019 | 38
Traffic is Life!

  The “Child Safety in Traffic” project, which was launched in
  2016, continued to be the focal point of the Traffic is Life!
  platform in 2018, due to the fact that children aged 5-14 are
                                                                  increasing

                                                                  traffic safety
  one of the groups most affected by traffic accidents and
  child safety in traffic is crucial in Turkey. Aiming to raise
  awareness on child safety in traffic and in vehicles, several

                                                                  awareness
  promotional, educational and supportive events were
  organized in many channels through the year.
  One of the most notable events was the “Child Safety
  in Traffic” summit, which was organized in Ankara
  in cooperation with the Turkish Police Force during
  Traffic Week. At the summit, which was attended by
  approximately 250 people, one attendee received a child
                                                                  since 2004
  seat as a gift as the winner of a competition during the
  event.
  Popular figures of Turkish pop music, including Oğuzhan
  Koç, Sinan Kaynakçı, founder and lead singer of the band
  Pinhani, Derya Uluğ, Gripin the band, Emre Aydın and Cem        “Social Responsibility
  Belevi gave their voices to the four key messages of “Traffic
  is Life!”. These messages were broadcast on Kral FM and         Project of the Year”
  Kral Pop TV to raise awareness about traffic safety. As the
  Traffic is Life! brand ambassador, Professor Üstün Dökmen       award by the Automotive
  also joined radio shows. Twelve young people who recently
  got their driver’s licenses and answered the questions          Distributors Association
  correctly were offered safe driving training. The plan is to
  continue the trainings in 2019.                                 (ADA)
  In social media, the Facebook Chat Bot application, applied
  as a social responsibility for the first time offered driver
  candidates the opportunity to take a test with questions
  from previous years’ driving test questions approved by the
  Ministry of Education. Over 150,000 users benefited from
  the application.
  As of December 2018, the Facebook account of the Traffic
                                                                  The Traffic is Life!
  is Life! platform has reached nearly 128,000 followers as
  regular content sharing continues to provide all segments
                                                                  platform was again ranked
  of the society with informative / educational benefits.
  The Traffic is Life! platform started 2018 with an award and
                                                                  among the top 10 projects
  the jingle project with Nil Karaibrahimgil was recognized
  as the “Social Responsibility Project of the Year” by the
                                                                  in Capital magazine’s
  Automotive Distributors Association (ADA). As in 2017, the
  Traffic is Life! platform was again ranked among the top
                                                                  Best Corporate Social
  10 projects in Capital magazine’s best Corporate Social
  Responsibility survey in 2018.
                                                                  Responsibility survey in 2018.

                                                                                                   Investor Relations Presentation - DOAS Profile - 2019 | 39
2018 Corporate Sustainability Performances in Doğuş Otomotiv

Strategy and                       Our Business                           Our People and                        Our Planet and
Management                         and Economical                         Community                             Environmental
                                   Development                            Development                           Sustainability
  10th Year in GRI Reporting
  First Independent Assurance       TRY 1,191.5 million added value to     New Performance System                   Electricity saving of 524,550
  Report                            local economy                                                                   kWh from recycled car batteries
                                                                           97% of Volkswagen Training
  Compliance Committee is           More than 40 digital                   Lab students had the internship          which is equal to one month
  established                       transformation projects                opportunity in Authorized Dealers        consumption of 2,230 families.
  Environmental Risk Models         18 suppliers’ sustainability           and Services                             With waste management
  included in Risk Management       performances included in               43% of new employment is                 operations 12,776 trees and 255
  Information Security Policy is    Sustainability Report (7 last year)    women                                    thousand tons of CO2 emission is
  disclosed                                                                                                         prevented in 2018.
                                    20 Authorized Dealers and              Blue Employment Program in
  New Materiality Workshop and      Services Sustainability                Doğuş Oto                                54% of packaging wastes are
  Roadmap is published              performances included in                                                        recycled and with only paper
                                                                           Young Women Development                  and carton waste recycling in
                                    Sustainability Report                  Project with TEV                         2018, 11,953 trees and with timber
                                    1.36 million vehicle entries to        Reverse Mentorship Program               recycling 823 trees are saved.
                                    Authorized Services in 2018
                                                                           Top scorer in Istanbul Stock             18,267 m3 water is saved with
                                    Digital Cargo System                   Exchange Enhanced Boards with            sustainable packaging waste
                                    Value Segmentation Project             Women Index                              management systems
                                    (CRM)                                  Careerist from Doğuş (Doğuştan           With new centralized automatic
                                    Hot Customer Project                   Meslek Sahibi) Program                   control system of PC Closing in
                                                                                                                    Dead Time System, 298,000 kWh
                                    Data Store Renovation Project          Traffic is Life! – Child Safety
                                                                                                                    energy will be saved in 2019
                                    Operator Program                       in Traffic – 11 Animation Movie
                                                                           watched by 8 million children –
                                    42% of suppliers are audited via       Mother and Baby Safety in Traffic
                                    documents.
                                                                           Doğuş Otomotiv Volunteers
                                                                           Program

                                                                                            Investor Relations Presentation - DOAS Profile - 2019 | 40
Social Media

               Investor Relations Presentation - DOAS Profile - 2019 | 41
Social Media

Volkswagen                                                    Volkswagen LCV                                                  Audi
     3.9 mn followers                                            1.1 mn followers                                                  1,148,493 Facebook followers
        Turkey’s 3rd largest locally followed brand page             Ranked 1st among LCV in Europe                                  79,550,265 reach in 2019
       Turkey’s 1 largest locally followed automotive brand
                 st
                                                                     7/24 Customer Service on Facebook                               383,120 interactions in 2019
     page                                                                                                                            6th ranking among Audi globally
        2,644,057 user interaction                               7/24 Customer Service on Twitter
        81,837,858 reach                                                                                                           416,686 Twitter followers
        The 3rd largest VW brand page                            13.4 K Subscriber, 17 mn view                                       1st brand among all automobile brands on total
                                                                     Whitelist Brand                                                 followers
     381K + followers                                                First Brand to use Beta Products                                9,282 interactions in 2018
        The largest brand account in automotive                      Best Awareness lift in its class 			                            3rd largest Audi account globally
        The second largest Volkswagen Brand Page                     (Automotive industry - Bumper Ad)
        1,292,106 likes, 16,660 comments                                                                                           4,758 Youtube subscriptions
                                                                     Amarok: 55.3K followers 		                                      2,119,953 views
                                                                     Volkswagen Commercial Vehicle: 20.5K followers
                                                                                                                                   309,963 Instagram followers
                                                                                                                                     47,279,783 reach in 2019
                                                                                                                                       926,582 interactions in 2019
Porsche                                                                                                                           3rd largest Audi account globally
     357,762 followers
                                                                                                                                   11,858 Linkedin followers
         The approximate number of posts in a month: 5
         The approximate number of likes in a month: 1,400    SEAT                                                                  First Automotive brand to actively use Linkedin in
                                                                                                                                  Turkey
         The number of video share in 2019: 6                    Global SEAT Facebook 5.6 mn followers
         The number of video views in 2019: 4,014                    Engagement: 16,900
                                                                     Reach: 11,400,000                                         ŠKODA
     102,449 followers
        The numbers of shares within a week: 4                                                                                     738,079 followers
                                                                 42,827 followers
        Increase in the number of followers in a week: 50
                                                                     Ranked 4th among all SEAT Twitter accounts.
                                                                                                                                   140,219 followers
     2,967 subscriber                                                                                                                Ranked 1st among all ŠKODA countries on Instagram
                                                                 113,059 followers
        Total view: 589.5 K (2019)
                                                                     Ranked 1st among all SEAT countries on Instagram
                                                                                                                                   14,703 followers

                                                                                                                                   3.5 mn views

*All data is as of May 2019

                                                                                                                        Investor Relations Presentation - DOAS Profile - 2019 | 42
Investor Relations Contacts

              Müge Yücel, GRCP

              Head of Investor Relations
              +90 262 676 90 58
              muyucel@dogusotomotiv.com.tr

                                             Address: Şekerpınar Mah. Anadolu Cad. No: 22 ve 45,
                                             41420 Çayırova/Kocaeli Turkey
                                             Website: www.dogusotomotiv.com.tr
                                             E-mail: yatirimciiliskileri@dogusotomotiv.com.tr
                                                     investorrelations@dogusotomotiv.com.tr

                                                            Investor Relations Presentation - DOAS Profile - 2019 | 43
Disclaimer

Doğuş Otomotiv Servis ve Ticaret A.Ş. (the “DOAS”) has prepared this presentation documents (the “Document”)
consisting of documents and appendixes thereto for the sole purposes of providing information and projections
and statements relating to the DOAS (the “Information”). DOAS cannot guarantee the accuracy, adequacy, or
completeness of such information, and cannot be responsible for the results. The Information is subject to change
without any notice. Neither the Document nor the Information can construe any investment advise, or an offer
to buy or sell DOAS shares. This Document and/or the Information cannot be copied, disclosed or distributed
to any person other than the person to whom the Document and/or Information delivered or sent by DOAS or
who required a copy of the same from the DOAS. Any and all information contained in this document are strictly
confidential.

                                                                           Investor Relations Presentation - DOAS Profile - 2019 | 2
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