Investor Relations Presentation - DOAS Profile 2020 - Doğuş Otomotiv

 
Investor Relations Presentation - DOAS Profile 2020 - Doğuş Otomotiv
Investor Relations Presentation
DOAS Profile 2020
Investor Relations Presentation - DOAS Profile 2020 - Doğuş Otomotiv
Agenda

 Doğuş Group

 Doğuş Otomotiv

 Macroeconomic
 Outlook

 Automotive Market

 Core Business Lines

 Automotive Related
 Ancillary Business

 Corporate Governance

 Social Media

 Investor Relations
Investor Relations Presentation - DOAS Profile 2020 - Doğuş Otomotiv
Doğuş Group Structure

                        Investor Relations Presentation - DOAS Profile - 2020 | 2
Investor Relations Presentation - DOAS Profile 2020 - Doğuş Otomotiv
Doğuş Group

                                                FOUNDATION 1951
                                              20,000+ EMPLOYEES
                                                307 INVESTMENTS
                                                  26 COUNTRIES
    7 SECTORS: Automotive, Construction, Media, Tourism and Services, Real Estate, Energy,
                           Food & Beverage, and New Initiatives
                    Combined total assets under management; TRY 93 billion (2019)
                                                     S&P (TrBB)

 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 2020 - Doğuş Otomotiv
Doğuş Group - Operational Map

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

AMERICA                                                                                                          18. ITALY
                                                                                                                 D-Hotels & Resorts
1. USA
d.ream partnerships                                                                                              d.ream partnerships
                                                                                 EUROPE
2. SAINT BARTHS            6. NORTH IRAQ                                                                         19. SPAIN
D-Hotels & Resorts         D-Auto LLC                                            13. TURKEY                      d.ream partnerships

                           7. KAZAKHSTAN                                         14. BULGARIA                    20. SWITZERLAND
AFRICA                     Doğuş Construction                                    Doğuş Construction Bulgaria     D-Hotels & Resorts
                           Kazakhstan Branch                                     Branch
3. LIBYA                                              10. THAILAND                                               21. THE NETHERLANDS
Doğuş Construction Libya   Doğuş LLC                                             Doğuş Construction
                                                      d.ream partnerships                                        D-Marine Investment
Branch                                                                           Representative Office           Company BV
                           8. QATAR
                                                      11. UNITED ARAB EMIRATES                                   d.ream International BV
                           Doğuş Construction LLC
ASIA                                                  Doğuş Management           15. CROATIA
                           Doğuş Construction Qatar   Services Ltd               D-Marin                         22. UNITED KINGDOM
4. AZERBAIJAN              Branch
                                                      d.ream partnerships        D-Hotels & Resorts              d.ream partnerships
d.ream franchise           d.ream partnerships
                                                      REIDIN Headquarters
D-Hotels & Resorts                                                               16. GERMANY                     23. UKRAINE
                           9. SAUDI ARABIA                                       Doğuş Media Group GmbH          Doğuş Construction LLC
                                                      12. INDIA
5. CHINA                   Doğuş Construction Saudi
                                                      Doğuş Construction and     Euromessage Deutschland         Doğuş Construction
d.ream partnerships        Arabia Branch
                                                      Trade Inc.                 GmbH                            Representative Office

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Investor Relations Presentation - DOAS Profile 2020 - 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.

 In the F&B sector, the intention is to expand the unique brand umbrella both in Turkey and globally from the Gulf Region to the
 Far East, from Europe to the 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. It currently operates in 12 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 within 4 countries, in Turkey, 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 Lucerne, and the construction of the Peninsula Hotel in Istanbul are ongoing.
 Additionally, Alanya located Doğuş property Alantur Hotel building is rented. 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 2020 - Doğuş Otomotiv
Doğuş Group Strategy

 On the new initiatives; Galataport, is one of the most important project of the Group, it 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, is serving with 14 marinas with 8721 berthing capacity in Turkey, Croatia, Greece,
 UAE and Montenegro, with 695+ 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 Gucci, Loro Piana, Hublot, Under Armour, Kiko, Leica under its
 umbrella extended its portfolio in the recent years by adding new global brands such as “Tag Heuer”, “Bvlgari”, “Frederique
 Constant” “Eleventy”,”M-Missoni”  and maintained its growth strategy.

 Doğuş Group, hosting the leading media brands such as Star TV, NTV, and Kral Pop maintained the growth in the media sector
 as well. 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 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 - 2020 | 6
Investor Relations Presentation - DOAS Profile 2020 - 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 2020 - Doğuş Otomotiv
Doğuş Otomotiv / Value Chain 2020

Presence in Every Stage of the Lifecycle of Owning a Vehicle
                                                                                                                            Automotive
                                             Core Activities                                                              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 Financing*
                                                                                                                                          TÜVTÜRK*

                Yüce Auto
                                Doğuş Otomotiv
                            Independent Authorized                                                             Insurance*
                              Dealers and Services
                                                                                    DOD Used
                                                                                   Vehicle Sales

                                                                                                               Factoring*

                                                                                                                 Fleet*

*Subsidiaries

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Investor Relations Presentation - DOAS Profile 2020 - 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 2019
                                                                   Scania    Thermo King     Scania Engines

                                                             Investor Relations Presentation - DOAS Profile - 2020 | 9
Success Story of DOAS

Doğuş Otomotiv is the sole importer and distributor of VW Group brand vehicles in Turkey.
1994                         1995                          1997                             2000                          2004                           2007                         • Krone - Doğuş              • Groundbreaking
• Scania distributorship     • Scania Industrial           • SEAT distributorship           • Consumer finance JV         • Initial Public Offering      • TÜVTÜRK established          coproduction                 ceremony of Porsche
  agreement                    and Marine Engines            agreement and                  • with Volkswagen               of Doğuş Otomotiv              by the cooperation           agreement                    dealership in Lausanne
• Volkswagen and               distributorship               partnership with Yüce            Financial Services AG       • Doğuş Otomotiv                 of AKFEN and TÜV SÜD       • Bugatti letter of intent   • Opening Meiller Doğuş
  Audi distributorship         agreement signed              Auto                                                           Corporate                    • Porsche dealership         • LeasePlan partnership        Tipper Plant
  agreement                                                                                 2003                            Responsibility project:        contract in Lausanne         for fleet services         • Establishing Porsche
• Distributorship            1996                          1999                             • Krone distributorship         “Traffic is Life!”           • Lamborghini                                               Lausanne D-Auto
  agreement with             • Porsche distributorship     • Škoda distributorship            agreement                                                    distributorship            2008                           Suisse SA
  Volkswagen AG                agreement                     agreement and                  • Assembling Operations       2006                             agreement                  • Thermo King
                             • Customs duties on             partnership with Yüce          • Merger of automotive        • Doğuş Otomotiv               • Opening of OtoMotion         distributorship            2009
                               vehicles imported from        Auto                             companies under               acquired 100% of SEAT        • Oto-Fix Ekspres Service      agreement                  • Doğuş Otomotiv 15th
                               the EU abolished            • Used car operations              Doğuş Otomotiv              • Bentley letter of intent       established                • Krone Doğuş Trailer          anniversary
                                                             established                                                  • Volkswagen Marine            • Meiller distributorship      Plant groundbreaking       • Opening of Porsche
                                                                                                                            Engines agreement              and coproduction             ceremony                     Lausanne
                                                                                                                          • Production agreement           agreement
                                                                                                                            with Krone

Market Share                          Market Share                                      Market Share                                                                                                                        Market Share
                                                                                                                                                                                                       Car park more
   0.5%                                 5.8%                                                  11.4%                                                                                                   than 2.1 mn units
                                                                                                                                                                                                                              16.7%

            1994               1996                 1999                2003                    2006                   2008                2010                 2012                 2014                 2016              2018
 1993                 1995                1997                2000                   2004                  2007                 2009                   2011               2013                2015                 2017               2019

2010                         2012                          2014                             2015                          2016                           2017                         2018                         2019
• Global Compact             • Corporate Governance        • VDF acquires Scania            • VDF acquired MAN            • Corporate Governance         • Subsidiaries               • The distributorship        • 25th anniversary
  Agreement                    Rating (8.63 Point)           Finance which                    Finansman.                    Rating rose to 9.51            established in Egypt         agreement with VW            celebration
• Publishing                                                 performs services in           • Corporate Governance        • Incorporation of               were liquidated              AG was renewed for an      • Corporate Governance
  Sustainability Report      2013                            heavy commercial                 Rating (9.42 point)           Lausanne Bentley             • Corporate Governance         indefinite period            Rating Score increased
                             • Corporate Governance          vehicle sector.                • Production partnership        Showroom and                   Rating rose to 9.63        • Porsche and Bentley          to 9.65
2011                           Rating (9.05 Point)         • Corporate Governance             and distributorship           D-Occasion-used                                             showrooms of D-auto
• Corporate Governance       • VW and Audi                   Rating (9.25 Point)              agreement with Krone          luxury car sales- into                                      Suisse SA in Lausanne,
  Rating (7.80 Point)          distribution agreement      • Maintain leadership              came to an end.               D-Auto Suisse SA.                                           Switzerland were
                               for Iraq                      position in the total          • Meiller production          • Distributorship                                             transferred
                                                             automotive market.               came to an end                agreement with Meiller                                    • Corporate Governance
                                                                                              (though Meiller               came to an end                                              Rating rose to 9.64
                                                                                              distributorship
                                                                                              continued)

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Key Strengths of DOAS

 Leader in import market in Turkey with 16,7% 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 - 2020 | 11
DOAS’ Position in the Market - 2019 FY

                            2019 VW PV reached 38,820 sales units and ranked 3rd in the passenger vehicles market.
                            2019 market share of VW was realized as 10%.

PV                          The Golf, Passat and Passat Variant retained 1st position in their segments.
                            SEAT achieved 5,914 sales units with market share 1.53%.
                            ŠKODA closed the year 2019 with selling 15,369 units and achieving the second highest market share in its history
                            with 4.0%.

                            VW LCV market share has been realized as 10.5% in 2019.
                            VW LCV sold 9,676 units in 2019.
LCV                         VW LCV is the sales leader with 22.5% market share in the imported commercial vehicles market.
                            VW LCV sales are ranked 3rd place in the total market.
                            The Transporter model, which created its own class when it was first produced 70 years ago, continued its segment
                            leadership in 2019 with 3,794 sales and 33.8% market share.

                            Scania left a challenging year behind for the heavy-duty vehicle sector with success by completing the year with
                            a 12% share in the tow truck market and 6.2% in the entire market in 2019, with its motto of “Your business is our
                            priority”.
HCV                         Increasing its marine engine sales by 62% in 2019, Scania Engines has preserved its place among the largest engine
                            vendors.
                            Long hailed as the leader in the reefer unit market, Thermo King maintained its success by providing solutions for
                            various needs and preserved its lead in the cold chain transport sector in 2019.

                            The Audi brand achieved many important successes in 2019 and completed the year as a premium segment leader
                            with sales of 10,024 units ahead of its rivals.

Luxury                      The 718 model led its segment with a 39% market share, with 37 units sold in 2019. The best-selling model of
                            Porsche was Macan with 236 units.

Segment                     The world debuts of the new Bentley Flying Spur, described as the most advanced luxury Grand Touring sports
                            sedan, and the Lamborghini Huracan Evo, which takes the driving experience to the highest level, took place in
                            2019. Lamborghini reached the highest sales figure in Turkey with Urus, the world’s first super SUV. In 2019, Bentley
                            sold 9 in total and Lamborghini sold 9 units of vehicles.

                                                                                 Investor Relations Presentation - DOAS Profile - 2020 | 12
Financial Performance

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

                      13,220                                       1,301   1,301                                                   610       612
           11,925                                                                  1,270                                 556
  10,889                       10,688                                                                496       492
                                        9,844

                                                           1,153
                                                   1,109

   2015    2016       2017     2018     2019       2015    2016     2017   2018    2019              2015      2016     2017      2018      2019

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

   302                                                              315                                                 5,167
                                                                                                              4,852               4,799     4,665
           238                                                                                      3,980
                                                           208
                       184                                                 179
                                                   169
                                134

                                         77
                                                                                    45

   2015    2016       2017     2018     2019       2015    2016     2017   2018    2019              2015      2016     2017      2018      2019

                                                                                           Investor Relations Presentation - DOAS Profile - 2020 | 13
Margins

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

                                     12.9%                         8% consolidated max          8.0%                                                    6.2%
                           12.2%                                                         7.2%                                                 5.7%

                                                            6.1%     6.1%       6.3%
                            Avg 11-12%          Target                                                           4.6%
  10.2%                                                                                                                    4.1%     4.2%
           9.7%     9.8%

   2015    2016     2017   2018          2019               2015     2016       2017     2018   2019             2015      2016     2017      2018      2019

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

   2.8%                                                              5.43                                                  2.40
                                                                                5.16
                                                                                                                                     2.16

           2.0%                                                                          3.84                                                  1.79
                                                            3.70
                                                                                                                 1.37                                    1.43
                    1.4%                                                                        2.92
                           1.3%

                                         0.8%

   2015    2016     2017   2018          2019               2015     2016       2017     2018   2019             2015      2016     2017      2018      2019

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2020 New Launches

NEW          NEW               NEW                 NEW          NEW            NEW                ENGINE UPDATE        NEW
 Golf 8       e-tron SB (Q3)    New Leon (Q3)       Scala        Bentley        718 Cayman          V8 Engine           Stage V
 Caddy        A3 SB (Q3)        Tarraco (Q3)        Kamiq        New Flying     GTS 4.0                                 Compliant
 Caravelle    Q3 (Q4)                               Octavia      Spur (Q3)      718 Boxster                             SLXi Series
 Highline     RS Q3 & RS Q3    FACELIFT                                         GTS 4.0                                 Electric E-200
              SB (Q4)            Ateca (Q3)                      Lamborghini    911 Turbo S                             Unit
FACELIFT      A1 Citycarver                                      Huracan Evo    Macan GTS
  Tiguan      (Q4)                                               (Q2)           Taycan Cross
                                                                                Turismo

                                                                               FACELIFT
                                                                                 Panamera G2 II

                                                                               Investor Relations Presentation - DOAS Profile - 2020 | 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 compatible
 • Connectivity and accessibility in customer communications     software
 • Virtual Showroom Concept - “Audi City”                      • Continuous improvement for a more productive ecosystem
                                                               • New technologies in supporting Personnel Infrastructure
                                                               • Lean Management practices and processes
                                                               • Data Analytics and Robotic Process Automation Applications
                                                               • Digital Competency Accelerator and Development Program for
                                                                 the Employees

 Maintaining Presence in the Automotive Market!                The First Condition of Creating a Happy
 •   Optimum balance of profitability and market share         Customer is 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 Otomotiv’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 - 2020 | 16
Digital Transformation Strategy of DOAS

Doğuş Otomotiv Road Map for Digital Vision

                      Personalization
                                                                  Enabling factors

                                                                   3 digital
       Analytics
                                         Vehicle digital           foundations
     empowered
                                         twin
    E2E planning                                                   Data & systems
                                                                   People, skills &
                    Eight cornerstones                             working mode
  Digitized                                   Omni-channel
                      to drive Dogus                               Digital governance
 operations                                   integration
                      digital vision                               & transformation

         Backend
                                         Digitized dealer
      automation
                                         of the future
 and acceleration                                                  Growing beyond
                                                                   the core
                      Transparency &
                         steering
                                                                   Business
                                                                   innovation

                                                             Investor Relations Presentation - DOAS Profile - 2020 | 17
Digital Transformation at Doğuş Otomotiv

    Doğuş Otomotiv accelerates with Digital Transformation!
   As Doğuş Otomotiv, we are working with all our energy in 2020 for the Digital
    Transformation that we started in 2017 within the scope of our future vision.

       2017                       2018                   2019                                 2020
 Digital Transformation   The foundations of the   Digital Transformation             Digital Transformation
 department was           Digital Transformation   has gained momentum.               spreads across the
 established.             were laid.                                                  company
                                                   • 2 Digital Board
                          •   6 value streams      • 1 IT Strategy                    • Microsoft AI
                          •   6 teams, 62 people     Workshop                           Academy Trainings
                          •   8 cornerstone        • 8 Business Owner                 • D- GTL Competence
                          •   44 projects            Meetings                           Development
                                                   • 20 Sprint Meetings                 Program
                                                   • 15 Digital Projects              • Business Agility
                                                     Completed                          Applications
                                                                                      • Number of Ongoing
                                                                                        Projects: 13

                                                                Investor Relations Presentation - DOAS Profile - 2020 | 18
Digital Transformation at Doğuş Otomotiv

                                           Agile Project Management - Mini Garden
Agile Project Management - Digital Board   (Business Owner Meeting)

                                           Machine Learning and Artificial Intelligence
Agile Project Management - Digital Board   Applications / Practices - Microsoft AI Academy

                                                           Investor Relations Presentation - DOAS Profile - 2020 | 19
Macroeconomic Outlook
Macroeconomic Indicators

 YoY Inflation (%)                                                                                                                           Annual CPI                             Annual PPI                 Nominal Exchange Rates                                                                                                                               US$/TRY    EUR/TRY
                                                                                                                                                                                                                                                                                                                                                                   Basket (US$0.5+EUR0.5)

50.00                                                                                                                                                                                                 8.00
45.00                                                                                                                                                                                                 7.50
                                                                                                                                                                                                      7.00                                                                                                                                                                                                    6.86
40.00                                                                                                                                                                                                 6.50                                                                                                                                                                                                    6.54
35.00                                                                                                                                                                                                 6.00                                                                                                                                                                                                    6.23
30.00                                                                                                                                                                                                 5.50
                                                                                                                                                                                                      5.00
25.00                                                                                                                                                                                                 4.50
20.00                                                                                                                                                                                          12.37% 4.00
                                                                                                                                                                                                      3.50
 15.00                                                                                                                                                                                          9.26% 3.00
10.00                                                                                                                                                                                                 2.50
                                                                                                                                                                                                      2.00
  5.00                                                                                                                                                                                                 1.50
  0.00                                                                                                                                                                                                1.00
-5.00
         02-13
                 06-13
                         10-13
                                 02-14
                                         06-14
                                                  10-14
                                                           02-15
                                                                     06-15
                                                                               10-15
                                                                                          02-16
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                                                                                                                                                                   10-18
                                                                                                                                                                            02-19
                                                                                                                                                                                     06-19
                                                                                                                                                                                              10-19
                                                                                                                                                                                                       02-20

                                                                                                                                                                                                                      02-14

                                                                                                                                                                                                                              06-14

                                                                                                                                                                                                                                        10-14

                                                                                                                                                                                                                                                   02-15

                                                                                                                                                                                                                                                                06-15

                                                                                                                                                                                                                                                                          10-15

                                                                                                                                                                                                                                                                                  02-16

                                                                                                                                                                                                                                                                                            06-16

                                                                                                                                                                                                                                                                                                       10-16

                                                                                                                                                                                                                                                                                                                    02-17

                                                                                                                                                                                                                                                                                                                              06-17

                                                                                                                                                                                                                                                                                                                                       10-17

                                                                                                                                                                                                                                                                                                                                                02-18

                                                                                                                                                                                                                                                                                                                                                           06-18

                                                                                                                                                                                                                                                                                                                                                                    10-18

                                                                                                                                                                                                                                                                                                                                                                                02-19

                                                                                                                                                                                                                                                                                                                                                                                         06-19

                                                                                                                                                                                                                                                                                                                                                                                                  10-19

                                                                                                                                                                                                                                                                                                                                                                                                           02-20
 Auto Loan Rates (%)                                                                                                                                                                                 TRY       Consumer Confidence Index                                                                                                                 Consumer Confidence Index
                                                                                                                                                                                                                                                                                                                                                               Retail Sales Total LV

 3.20
                                                                                                                                                                                                               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                                                                                                                                                                                        1.39%             65.0
                                                                                                                                                                                                                                                                                                                                                                                                          60,000
                                                                                                                                                                                                               60.0                                                                                                                                                                                       40,000
 0.70
                                                                                                                                                                                                                                                                                                                                                                                                          20,000
 0.20                                                                                                                                                                                                          55.0                                                                                                                                                                                       0
                                                                                                                                                                                                                      02-15
                                                                                                                                                                                                                              05-15
                                                                                                                                                                                                                                      08-15
                                                                                                                                                                                                                                                11-15
                                                                                                                                                                                                                                                        02-16
                                                                                                                                                                                                                                                                  05-16
                                                                                                                                                                                                                                                                          08-16
                                                                                                                                                                                                                                                                                  11-16
                                                                                                                                                                                                                                                                                          02-17
                                                                                                                                                                                                                                                                                                    05-17
                                                                                                                                                                                                                                                                                                            08-17
                                                                                                                                                                                                                                                                                                                      11-17
                                                                                                                                                                                                                                                                                                                               02-18
                                                                                                                                                                                                                                                                                                                                       05-18
                                                                                                                                                                                                                                                                                                                                               08-18
                                                                                                                                                                                                                                                                                                                                                        11-18
                                                                                                                                                                                                                                                                                                                                                                02-19
                                                                                                                                                                                                                                                                                                                                                                        05-19
                                                                                                                                                                                                                                                                                                                                                                                 08-19
                                                                                                                                                                                                                                                                                                                                                                                         11-19
                                                                                                                                                                                                                                                                                                                                                                                                 02-20
         02-10

                 08-10

                         02-11

                                 08-11

                                          02-12

                                                   08-12

                                                             02-13

                                                                       08-13

                                                                                  02-14

                                                                                             08-14

                                                                                                     02-15

                                                                                                              08-15

                                                                                                                      02-16

                                                                                                                                  08-16

                                                                                                                                             02-17

                                                                                                                                                       08-17

                                                                                                                                                                 02-18

                                                                                                                                                                           08-18

                                                                                                                                                                                    02-19

                                                                                                                                                                                             08-19

                                                                                                                                                                                                       02-20

                                                                                                                                                                                                                                                                   Investor Relations Presentation - DOAS Profile - 2020 | 21
Population & Demography

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

                83,155                   86,907                                                                                                                                                                                                                              Population is expected to grow
                                                                                                                                      33%                                                                                                                                    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
                       2019                2023                2040                   2060                                            2019                                                                                           2023
                                                                                                                                                                                                                                                                             increase by 9% by 2060.
   Economy                                                                                                         Auto Industry Trade Balance (US$ bn)
                                      Real GDP          GDP YoY Growth                                                                    Trade Deficit                                     Export                            Import

                                                                                                                  30.00
GDP - (Trillion TRY)

                        1.8                                                           12.0
                                                                                             GDP YoY Change (%)

                                                                                                                  25.00
                        1.6                                                           10.0
                        1.4                                                           8.0                         20.00
                                                                                      6.0
                        1.2                                                                                       15.00
                                                                                      4.0
                        1.0                                                                                       10.00
                                                                                      2.0
                       0.8
                                                                                      0.0                          5.00
                       0.6                                                            -2.0
                       0.4                                                                                         0.00
                                                                                      -4.0
                       0.2                                                            -6.0                        -5.00
                                                                                                                                                                                                                                                                          Note: All figures are rounded.
                                                                                                                          12/02
                                                                                                                                  12/03
                                                                                                                                          12/04
                                                                                                                                                  12/05
                                                                                                                                                          12/06
                                                                                                                                                                  12/07
                                                                                                                                                                          12/08
                                                                                                                                                                                  12/09
                                                                                                                                                                                          12/10
                                                                                                                                                                                                  12/11
                                                                                                                                                                                                          12/12
                                                                                                                                                                                                                  12/13
                                                                                                                                                                                                                          12/14
                                                                                                                                                                                                                                  12/15
                                                                                                                                                                                                                                          12/16
                                                                                                                                                                                                                                                  12/17
                                                                                                                                                                                                                                                          12/18
                                                                                                                                                                                                                                                                  12/19
                       0.0                                                            -8.0
                              98990001020304050607080910 11 12 13 14 15 16 17 18 19                                                                                                                                                                                       Source: TurkStat

                                                                                                                                                                                                                                                              Investor Relations Presentation - DOAS Profile - 2020 | 22
Automotive Market
Turkish Light Vehicle Wholesale Performance - Market vs. DOAS

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

1,000                                                                                                             994
                                                                                                    972                                                                25%
                                                                                                                                957
 900
                                            871
                                                                        852                               20.8%         21.2%
                                                                                            20.1%
 800
                                                          779                         762                                             19.1%                            20%
                           761
                                                                              17.9%
 700                                                                                                                                                17.3%
                                                                15.9%                                                                                       16.1%
                                                                                                                                              600
 600
             553                                                                                                                                                       15%
                                                  12.6%
 500                                                                                                                                                        470
                                 11.3%

 400               9.0%                                                                                                                                                10%

 300

                                                                                                      202               211
                                                                                                                                    183
 200                                                                          152           153                                                                        5%
                                                  109           124
                                                                                                                                                104
                                 86                                                                                                                               76
  100              50

    0                                                                                                                                                                  0%
              2009           2010             2011         2012             2013        2014         2015          2016           2017         2018          2019
Source: Automotive Distributors Association, DOAS performance includes Škoda sales.

                                                                                                                        Investor Relations Presentation - DOAS Profile - 2020 | 24
DOAS Wholesales Performance

WHOLESALES (unit)                               2019        2018     Change               2017                2016                 2015

VW                                            45,282       61,563     -26%              119,384             137,143            140,088
    VW PV                                     37,029      45,388       -18%              91,343            104,410             106,677
    VW LCV                                     8,253       16,175     -49%               28,041              32,733               33,411
AUDI                                           9,576      12,969       -26%               21,172             22,105              21,100
PORSCHE                                          298           481    -38%                  700                 881                 877
BENTLEY                                            9            10     -10%                   16                  9                   19
LAMBORGHINI                                        9             3    200%                     7                  7                    6
SEAT                                           5,765       8,640       -33%              17,002             20,976                17,212
ŠKODA                                         14,600      20,425       -29%               24,714            30,004               22,435
PC TOTAL                                      67,286      87,916      -23%             154,954             178,392             168,326
LCV TOTAL                                      8,253       16,175     -49%               28,041             32,733                33,411
LV TOTAL                                      75,539     104,091      -27%             182,995              211,125            201,737
SCANIA                                           465         1,177    -60%                 1,697              2,050                3,291
GRAND TOTAL                                   76,004     105,268      -28%             184,692              213,185            205,593
MARKET SIZE*
PV                                            379,430    469,882        -19%          722,168               765,467             726,477
LCV                                            90,195     130,104       -31%          234,654               228,446             245,027
HCV                                             7,444       11,754     -37%            18,554                18,343              33,652
TOTAL                                         477,069     611,740      -22%           975,376             1,012,256           1,005,156

DOAS Market Share
PV                                               17.7%     18.7%                         21.5%               23.3%               23.2%
LCV                                               9.2%      12.4%                         11.9%              14.3%                13.6%
HCV                                               6.2%     10.0%                           9.1%               11.2%                9.8%
TOTAL                                           15.9%      17.2%                         18.9%                21.1%              20.5%

Source: Automotive Distributors Association

                                                                               Investor Relations Presentation - DOAS Profile - 2020 | 25
Turkish Automotive Industry

Production vs Sales (thousand units)                       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                                                                                                                                                      23,1 mn units
1,400                                                      100%                                                 10%
                                                 1,485
1,200                                                                                                                                                           Car 54%
                                                            50%                                                  5%                                             Small truck 16%
1,000
                                                                                                                                                                Motorcycle 14%
 800                                                         0%                                                  0%                                             Tractor 8%
                                                                                                                                                                Truck 4%
 600
                                                                                                                                                                Minibus 2%
 400                                                 479   -50%                                                 -5%                                             Bus 1%
 200
   0                                                       -100%                                                -10%
        2004

         2019
         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
                                                                    2019
                                                                                                                       Source: General Directorate of Public Security

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

                                 98%                          94%                                                                                             614
                                                                                                                                                  603                    588

                                       66%
   59%                                                                                                                                386
                        52%                                           48%
               47%
                                                                                          33%                             219
                                                                                                          19%
                                               11%
                                                                                   2%              0%

        Import               Diesel      A/T                 below 1600 cc     between 1600 cc   above - 2000 cc        Turkey     Romania         UK       Germany     Greece
                                                                                  - 2000 cc
* As of December 2019                                                                                                  ** ACEA Report Vehicles in use Europe 2019 (2018 Data)

                                                                                                                Investor Relations Presentation - DOAS Profile - 2020 | 26
Turkish Automotive Industry

Oil Prices in Turkey (TRY) (2005-2020)                                                                                                                                                             Oil Prices (Liter, TRY) (23.03.2020)

                                                                                                                                                                                                      10.41      10.16
7
                                                                                                                                                                                                                             8.93       9.09
6
                                                                                                                                                                                                                                                                      7.49
5

4                                                                                                                                                                                                                                                       5.31                    5.44
3                                                                                                                                                                                                                                                                                         4.30
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

                                                                                                                                                                                        01.01.20
                                                                                                                                                                                                      Italy     Greece     Germany          UK      Turkey        Bulgaria      China     USA
                                                                                                                                                                                                   Source: Global petrol prices

SCT Rates in Turkey (%)                                                                                      2000 cc             Average Vehicle Age in Turkey
(Passenger Cars)
                                                                                                                                                         160               160         160
160                                                                                                                                       145                                                                                                                                      23.9
                                                                                                       130                  130
120
                                                                                                                                                        100                100         100(*)                                                                  16.6
                                             84                                84          84                                            90
                                                           80                                            80                 80                                                                        13.8
80                          75                                                                                                                                                                                  12.8      13.7       13.5                                13.5                13.8
        50                                  60              54                 60          60                                                                                                                                                    11.7
                            52                                                                                                            45              45                           45   (**)
                                                                                                                            40                                                                                                                                                              Motor
                                             37                                            37             37                                                               30
40      46                  30                                                 27
                                                                                                                                                                                                                                                                                          Vehicles
                                                             18                                                                                                                                                                                                                           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           07-19
(*)
     100% for sale price of TRY170K.
(**)
      30% for sale price of TRY120K, respectively.                                                                                                                                                                         Vehicles                                     Truck

                                                                                                                                                                                                                           Investor Relations Presentation - DOAS Profile - 2020 | 27
Core Business Lines
Import and Distribution

                                                                                       Celebrating its 100th anniversary in 2019, Bentley further cemented its
        Thanks to the successful product and communications strategies pursued
                                                                                       position among its rivals thanks to the great attention that its New
        in 2019, Volkswagen Passenger Cars ranked third in the passenger car
                                                                                       Continental GT model has attracted in Turkey. Lamborghini reached the
        market with a 10% market share and a total retail sales figure of 38,820
                                                                                       highest sales figure in Turkey with Urus, the world’s first super SUV. In
        units. Thanks to its emotional brand strategy which has been maintained
                                                                                       2019, Bentley sold 9 in total and Lamborghini sold 9 units of vehicles.
        with consistency for years, Volkswagen Passenger Cars was elected
        Turkey’s most-loved automobile brand in 2019 - just like in the past seven
        years - at “Turkey’s Lovemarks 2019 Survey” conducted by the Mediacat
        magazine and Ipsos. In addition, the brand was awarded the Bronze Apple        The 718 model led its segment with a 39% market share, with 37 units sold
        in the Media/Service category in the Crystal Apple Festival, which gives       in 2019. The best-selling model of Porsche was Macan with 236 units.
        out the most prestigious creativity awards in the world of marketing, with     Porsche focused on driving experience with collaboration projects in 2019.
        its ad campaign, “Original Spare Parts - They Don’t Look Like They Work,
        They Just Do”.
                                                                                       Despite the contraction in the light commercial vehicle market in 2019,
                                                                                       Volkswagen Commercial Vehicle maintained its third place with 9,676 units
                                                                                       sold and 10.5% market share. It retained its leadership in the imported
        The Audi brand, which has been imported by Doğuş Otomotiv since 1994,          commercial vehicle sales. Volkswagen Commercial Vehicles was awarded in
        achieved many important successes in 2019 and completed the year as a          the “Commercial Automotive” category of the A.L.F.A Awards, where brands
        premium segment leader with sales of 10,024 units ahead of its rivals. Audi    that best manage the customer experience are evaluated. In the International
        Turkey continued to secure its position in the premium segment by              Sales Teams meeting held by Volkswagen AG in Germany, Volkswagen
        focusing on the digitalization of its business processes and “The Good         Commercial Vehicles was selected as the best customer-oriented distributor
        Natured Brand” strategy. Audi Turkey continued to maintain its active          and granted with the “Best Customer Oriented Market - Turkey” award in 2019.
        social media presence in 2019 and preserved its position at the top of the
        list of the most-followed Twitter accounts among all the automotive
        brands in Turkey.                                                              Scania left a challenging year behind for the heavy-duty vehicle sector with
                                                                                       success by completing the year with a 12% share in the tow truck market
                                                                                       and 6.2% in the entire market in 2019, with its motto of “Your business is our
                                                                                       priority”. Scania kept informed its existing and potential customers with
        SEAT Turkey sold 5,914 cars in 2019, led by the Leon model, representing a     regard to CNG and LNG-based vehicles throughout 2019, when the first
        market share of 1.53%. With the contribution of the communication efforts,     LNG fleet sale in Turkey was accomplished.
        SEAT’s brand awareness was realized as 27.2% in 2019. Brand likeability
        was realized as 7.2% by increasing compared to 2018.
                                                                                       Scania Engines answers the needs of its customers in a variety of areas,
                                                                                       offering them low-emission engines including marine and industrial
                                                                                       engines, as well as generator engines. Increasing its marine engine sales by
        ŠKODA closed the year 2019 with selling 15,369 units and achieving the         62% in 2019, Scania Engines has preserved its place among the largest
        second highest market share in its history with 4.0%. Especially the Kodiaq    engine vendors.
        and Superb models ranked in the top two of their respective segments,
        further strengthening the brand’s sales success in upmarket models.
        Octavia, often considered the heart of the brand, maintained its strong        Long hailed as the leader in the reefer unit market, Thermo King maintained
        position by closing the year in the first place with 6,815 units sold in the   its success by providing solutions for various needs and preserved its lead in
        last sales period of the current generation before leaving its place to the    the cold chain transport sector. Sector leader in reefer units, Thermo King
        fourth generation coming in 2020.                                              was named the “Best Brand” for the 15th time in the Reefer category at ETM
                                                                                       Awards 2019.

                                                                                         Investor Relations Presentation - DOAS Profile - 2020 | 29
Retail > Doğuş Oto

 Doğuş Oto represents seven brands (VW
 Passenger Cars, VW Commercial Cars,         represents
 Audi, Porsche, SEAT, Škoda, and DOD),
 for which it sells new and second-hand
 vehicles, spare parts, and accessories at   7 brands
 a total of 36 Authorized Dealers and 33
 Service points in Istanbul, Ankara, Bursa   one-stop shopping
 and Kocaeli; it also offers its customers   concept
 insurance, financing, and after-sales
 support services.
 Doğuş Oto operates on a total area
 of 278,480 square meters with 1,426         operating on
 employees.
 Doğuş Oto sold 27,649 new vehicles and
 its share in the retail sales volume of
                                             278,480 m2
 Doğuş Otomotiv was 34.5% in 2019.           total area
 With a total of 288,955 service entries
 were made in 2019.

                                             2019

                                             34.5%
                                             Share of DOAS sales

                                                                   Investor Relations Presentation - DOAS Profile - 2020 | 30
Retail > Škoda

New Corporate Identity and Design
Standards                                       2019

                                                15,369
   Yüce Auto started the distribution of
   ŠKODA brand vehicles in 1989.
   In 1998 50% partnership with Doğuş
   Otomotiv started.                            Sales Units
   The brand has completed the year with
   15,369 sales and ranked 11th place with 4%
   market share.
   SUPERB, which is among the luxury            2019
   models in the D Sedan segment,

                                                4%
   completed 2019 with the sales of
   4,519 by taking the second place in its
   segment.
                                                Market Share
   The KODIAQ model in the D SUV
   segment was the most sold model in its
   segment with a 19.2% market share and
   became one of the most prominent SUV
   models with 1,675 units.
                                                In its segment

                                                KODIAQ
                                                the most sold model

                                                                      Investor Relations Presentation - DOAS Profile - 2020 | 31
Replacement Parts and After Sales Services > Parts & Logistics

 Spare Parts and Logistics employs stateof-
 the-art technology combined with the            availability
 best modern synergistic practices, creating

                                                 99%
 unmatched levels of service for the global
 brands that Doğuş Otomotiv represents.

 In 2019, Spare Parts and Logistics imported
 58,174 vehicles, and dispatched 75,539
                                                 in Spare Parts
 vehicles to Authorized Dealers, ending the
 year with a total revenue of TRY 1,337.80
 million generated by the sales of spare
 parts and accessories.

 Spare Parts and Logistics uses advanced         Revenues
 computer technologies and inventory
 management systems, which can be easily
 adapted to various demands of customers,
                                                 TRY 1,337.80 million
 to run its operations smoothly. As a result,
 spare parts availability was maintained at
                                                 from Spare Parts
 99% in 2019 like the previous year, thus
 significantly reducing the amount of stock
                                                 and accessories
 held.

 As the “shipment from the port” project
 that Spare Parts and Logistics implemented      dispatched
 as a part of its pioneering vision in vehicle
 logistics continued with high capacity
 for vehicle storage and importation at
 the ports, significant improvements
                                                 75,539
 were achieved in client delivery times by
 working with more than one transportation
                                                 vehicles
 company for vehicle deliveries from ports
 to authorized dealers.

                                                                    Investor Relations Presentation - DOAS Profile - 2020 | 32
Used Vehicle Sales > DOD

 The total sales of DOD Authorized
 Dealers realized as 18,067 units at 58      2019

                                             18,067
 sales points in 2019.
 The Regulation on the Trade of Used
 Motor Land Vehicles published in
 the Official Gazette no. 30331 dated        sales vehicles
 13 February 2018 rendered it compulsory
 to provide the services like warranty and
 expertise survey, which were already
 offered by DOD to its customers before
 the said regulation.
 In 2019, the company continued to
 work towards achieving the standards
                                             largest corporate
 required by the regulation - such as
 operating license and professional
                                             retailer of used
 competency certificate - across its
 Authorized Dealer network.
                                             car business               DOD Sales Performance
                                                                          23,125    22,534
 DOD Mobile application has been                                                               22,009    21,767
 downloaded about 790,000 times on
 smartphones or tablets and became one                                                                             18,067
 of the most preferred applications in its
 market.                                     providing services
                                             58
                                             customer points
                                             in Turkey
                                                                           2015       2016      2017      2018      2019

                                                                  Investor Relations Presentation - DOAS Profile - 2020 | 33
Automotive Related
Ancillary Business
Finance > VDF

 The JV company was established on                                  New Contracts
 20 December 1999 to provide financing        2019                                                        86,433
                                                                                                 78,111
 for Doğuş Otomotiv Group Brands’
                                              30,102 units
                                                                                                                   67,733
 customers. The established JV company                                         60,180 58,338
                                                                      51,177                                                54,793
 is owned by Doğuş Holding (1%), Doğuş
 Otomotiv (48%) and Volkswagen
 Financial Services AG (51%).
                                              new contracts                                                                          30,102

 Offering products and services
 nationwide, VDF ensures ease of mind                                 2012      2013      2014   2015     2016     2017     2018     2019
 for its customers by providing Vehicle
 and Service Credits from a single point:                           Credits Given (TRY million)
 the Authorized Dealer.
                                              2019                                                                 5,522
                                                                                                          5,163             4,957

                                              TRY 3,058 mn
                                                                                                 4,345
 In 2019, vdf aimed to increase customer
 satisfaction and customer loyalty                                                       2,870                                       3,058
                                                                               2,531
 through sale, marketing and customer
 loyalty campaigns it jointly organized
                                              credits given           1,906

 with the brands. According to the
 results of the survey it conducted in
 2019, vdf scored much higher than the                                2012      2013      2014   2015     2016     2017     2018     2019

 world and Europe averages in customer
                                                                    Portfolio
 satisfaction assessments compared            2019                                                     160,727
 to the previous year. According to the                                                         146,046       147,671
 survey, 9 out of 10 people stated that
                                              80,211 units                               121,905                     129,945
                                                                               111,783
 they would want to work with vdf again.                             91,257
                                                                                                                                     80,211
 In 2019, new credit contracts realized as
 30,102 units with a total amount of TRY
                                              portfolio
 3,058 million and total portfolio units of
 80,211.
                                                                      2012      2013      2014   2015     2016     2017     2018     2019

                                                                    Incl. Scania and Man Finance

                                                              Investor Relations Presentation - DOAS Profile - 2020 | 35
Finance > VDF Insurance

  VDF Insurance, as an agent for 13 insurance                                         Number of Insurance Contracts
  companies, provides services & products to            in 8 years
  its customers such as motor insurance, traffic                                       314,757    313,129    323,975      306,771

                                                        doubled
  insurance, credit protection insurance and                                                                                         256,831
  extended warranty.
  VDF Insurance works with the Authorized
  Dealers of VW Group brands in Turkey. The             number of policies
  number of its branches in 2019 is 32.
  The production of its policies will be 350 million.
                                                                                         2015       2016       2017         2018      2019

Finance > VDF Factoring                                 Insurance branches is
                                                                                      Insurance Penetration
                                                                                      Motor Insurance                 Extended Warranty

                                                        32
  Active since May 2010, VDF Factoring offers                                                        59.5% 58.5%                    21.4%
                                                                                                                      16% 15%               17.1%
  factoring and financing services to 112                                                                                     14%
                                                                                       44% 44% 45%
  Authorized Dealers of Doğuş Otomotiv. In
  2019, VDF Factoring reached a transaction
  volume of TRY 9 billion and a total asset value       number of VDF
  of TRY 341 million.

                                                                                       2015 2016 2017 2018 2019       2015 2016 2017 2018 2019

                                                                                      Development of Assignments (TRY million)
Operational Fleet Renting > 2019                                                        DOAS      Yüce      Other

VDF Fleet
                                                        TRY 9 bn
                                                                                                               2,000
                                                                                                    600        1,500       2,300
                                                                                        1,100                                          600
  VDF Fleet was established in March 2016                                                          9,600      10,000       1,500
                                                                                        8,800                                         1,400
  Fleet ERP processes and procedures were built up.
  2019 active contract number is around 8,022
                                                        transaction volume                                                 7,600
                                                                                                                                      7,000

  contacts.
  In 2020, it is expected more than 12.000 new
  contracts.                                                                             2015       2016       2017        2018       2019

                                                                                Investor Relations Presentation - DOAS Profile - 2020 | 36
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              US$ 552 mn
    exchange 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 12th year, nearly 83.5 million        in 20 years
    vehicles have been inspected and 26.5 million
    vehicles underwent exhaust gas emission
    measurements. 29.8 million vehicles were re-
    inspected and enabled over 29.2 million unsafe
    cars to return safely back into traffic once again.
    In 2019, periodic inspections of 9.9 million vehicles
    were completed and 3.8 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
                                                            in 20 years
    year which is contributed to Turkish economy as
    a result of the traffic accidents avoided through
    TÜVTÜRK vehicle inspection system.

                                                                                        Investor Relations Presentation - DOAS Profile - 2020 | 37
Other Investments > Doğuş Teknoloji

Growing with new investments
   Doğuş Teknoloji creates a wide scope          Affiliate
   of software products and services
   that answer to actual demands and
   that reflect strong technological and         46%
   operational experience and sectoral
   expertise.
                                                 Doğuş Otomotiv
   Established in September 2011, Doğuş
   Teknoloji is owned 54% by Doğuş Holding
   and 46% by Doğuş Otomotiv.
   It moved to D-Office at the end of 2019.
   The main areas of Doğuş Teknoloji’s
                                                 Established

                                                 2011
   expertise include designing software
   and information systems that responds
   to analysis of business requirements (i.e.
   business process automation, 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.                          ITIL
                                                 Certified

                                                                  Investor Relations Presentation - DOAS Profile - 2020 | 38
Corporate Governance
Sustainability Management

                                                            Impact Management Focused Strategy
                      Corporate
                    Governance and
                     Sustainability                         In accordance with the principle of transparency
                  Committee Affiliated                      and accountability, Doğuş Otomotiv has been
                    with the Board                          implementing strategic sustainability management
                                                            in the areas of social, environmental, economic and
                                                            governance throughout its all life cycle since 2009.

                                                            Our Company, which accepts sustainability related
     Code of
                                                            areas as a part of risk management, published its 11th
    Ethics and     Sustainability          Sustainability   Sustainability Report in 2019. The report, which was
   Compliance      Management                Council        published by taking an independent audit, is delivered
   Committee                                                to our stakeholders via the website in accordance
                                                            with the GRI Reporting Principles. Since 2017, our
                                                            report also includes the UN Sustainable Development
                                                            Goals Index. Doğuş Otomotiv has been a signatory of
                                                            the United Nations Global Compact since 2010.
                         Digital
                     Transformation
                 and General Directorate
                      of Corporate
                    Communication

                                                                     Investor Relations Presentation - DOAS Profile - 2020 | 40
Sustainability Management

Report Assurance by an
Independent Auditor

Doğuş Otomotiv published its 2018
Sustainability Report receiving limited
assurance in line with the «Independent
Assurance» topic as per the basic
principles of Sustainability Reporting in
AccountAbility Principles (AA1000 AP)
International Standards for sustainability.

                                              Investor Relations Presentation - DOAS Profile - 2020 | 41
Traffic is Life!

  The Traffic is Life! platform has carried out awareness
  studies towards various target audiences for 15 years
  as the longest social responsibility project in the
                                                               increasing

                                                               traffic safety
  sector, with a view to changing the behavior and
  habits of individuals from all age groups regarding
  traffic safety, and raising awareness in society.

  In 2019, the Traffic is Life! platform adopted the
  strategy of taking an active stance in social media and
  digital platforms in order to efficiently reach its target
                                                               awareness
  audience.

  Thanks to interactive content such as surveys, tests,
                                                               since 2004
  and puzzles that are published through Instagram’s
  story feature, the platform managed to keep its
  communication with its target audience alive. A
  contest titled “Give me a sign” was held on what new
  traffic signs can be introduced to meet different
                                                               In this sense, 2019
  needs, reaching a total of 35,103 people on Instagram,
  and 415,000 on Facebook.                                     has been a year when
                                                               Traffic is
  Content was shared not only for motorists, but also for
  motorcycle riders, cyclists, pedestrians, parents, and
  animals.

  The platform prepared a series of short videos in order
  to fill the knowledge gap on the part of drivers in
  Turkey with regard to safe driving, and to offer them
  guidance on traffic related matters.
                                                               Life!
  Traffic is Life! focused on the things that young people     TRAFİKTE SADECE DÖRT TEKER YOK!
  pay the highest attention to in its communications, in
  order to pique their interest.

  In 2019, the Traffic is Life! platform continued its
  “Traffic Safety Remote Education” - started in 2013.
  The remote education, offered in the category of
  “Elective Social Courses” recommended by the
  Council of Higher Education, is the first social
  responsibility project that has entered the university
  SCORM system with its traffic safety content.

                                                                                                 Investor Relations Presentation - DOAS Profile - 2020 | 42
Sustainable Growth Resources

           We aim to ensure sustainable growth by accepting our priority to be able to respond to the expectations of
                                                      our stakeholders.

                          Material Issues              DOAS Performances                              Related UN Sustainable
                                                                                                       Development Goals
Environmental

                                                  • Energy Efficiency Policy
                                                  • Activities to Reduce Energy Consumption
                Climate Change                    • Waste Management Policies and Practices
                                                  • Activities and practices to promote waste
                Environmental Risk Management
                                                    management at suppliers, Authorized
                Electric Vehicles                   Dealers and Services
                                                  • Digital Transformation Practices
                                                  • Electric Vehicle Committee

                                                  • Growth Increasing Employment
                                                     (Authorized Dealers and Services)
                                                  • Activities to increase female employment
                Employees and Workplace              (Equality at Work)
Social

                Ethics                            • Cooperation with Vocational High Schools
                                                  • Mentoring for female students
                Human Rights                      • TEV partnership
                Community Engagement              • Doğuş Otomotiv Code of Ethics and related
                                                     practices
                                                  • Traffic is Life! platform
                                                   • Doğuş Otomotiv Volunteering Platform

                                                                                         Investor Relations Presentation - DOAS Profile - 2020 | 43
Sustainable Growth Resources

                       Material Issues            DOAS Performances                              Related UN Sustainable
                                                                                                  Development Goals

                                           • Automotive Code of Ethics and related
Governance

                                             practices
                                           • Inclusion of sustainability areas in Risk
             Sustainable Risk Management     Management
             Corporate Compliance          • Number of women on the Board of
             Sustainability Management       Directors
                                           • Corporate Governance Compliance
                                             Rating
                                           • BIST Sustainability Index

                                           •   Digital Transformation Practices
Economic

             Digitalization                •   Sustainable Purchasing Policy
             Sustainable Supply Chain      •   Suggestion System
                                           •   Lean programs and saving projects
             New Products and Services
                                           •   Employment in Value and Care Center
             Used Vehicle Market           •   DOD and Related Programs
             Customer Relations            •   Inclusion of Suppliers, Authorized Dealers
                                               and Services in Sustainability Report

                                                                                    Investor Relations Presentation - DOAS Profile - 2020 | 44
Social Media
Social Media

Volkswagen                                                    Volkswagen LCV                                                      Audi
     3.9 mn followers                                              1,066,498 followers                                                1,159,446 Facebook followers
        Turkey’s 3rd largest locally followed brand page             Total number of interactions 71,306                                 19,249,447 reach in 2019
       Turkey’s 1 largest locally followed automotive brand
                  st
                                                                     Total number of reach 6,626,673                                     274,530 interactions in 2019
     page                                                            1st in the commercial vehicle category in the world                 6th ranking among Audi globally
        Turkey’s Most Followed Car brand
        3,307,067 user interaction                                   Number of followers 29,601                                       409,879 Twitter followers
        198,228,797 reach                                            Total number of interactions 98,159                                 1st brand among all automobile brands on total
        The 3rd largest VW brand page                                Total number of reach 2,002,201                                  followers
                                                              		                                                                         23,800 interactions in 2019
     446K + followers                                              Number of subscribers 14,300
        The largest brand account in automotive                      Total number of interactions 845                                  4,960 YouTube subscriptions
        The second largest Volkswagen Brand Page                     YouTube views 17,491,986                                            6,069,416 views
        1,564,238 likes, 16,660 comments
        1,598,621 interaction                                 Amarok Turkey 2019                                                       333,548 Instagram followers
                                                                                                                                         19,148,009 reach in 2019
                                                                     Number of followers 57,374                                            871,389 interactions in 2019
                                                                     Total number of interactions 98,159                              4th largest Audi account globally
Porsche                                                              Total number of reach 2,958,306
                                                                     The world’s largest Amarok page.                                   12,573 LinkedIn followers
     350,969 mn followers
                                                                                                                                        First automotive brand to actively use LinkedIn in
         Number of content in 2019: 48
                                                                                                                                      Turkey
         Number of content interactions in 2019: 13,595
         Number of video sharing in 2019: 8
                                                              SEAT
         Number of video views in 2019: 5,647                      Global SEAT Facebook 5.6 mn followers
                                                                     Interactions: 1.1 mn (Turkey)         
                                                                                                                                  ŠKODA
     117,120 followers
                                                                     Reach: 63.8 mn (Turkey)                                          760,960 followers
        Increase in number of followers in one year: 19,177
        Number of content in 2019: 352
                                                                   43,499 followers                                                   171,718 followers
                                                                     Ranked 4th among all SEAT Twitter accounts. 
     3,770 subscriber
                                                                                                                                      14,952 followers
        Total view: 1.7 mn
                                                                   125,189 followers
                                                                     Ranked 1st among all SEAT countries on Instagram                  3,227 subscriber
                                                                                                                                         17,213,761 views

*All data is as of May 2019

                                                                                                                           Investor Relations Presentation - DOAS Profile - 2020 | 46
Investor Relations
Doğuş Otomotiv Investor Relations

 With a proactive approach in 2019, investor                                Percentage of Foreign Ownership (%)
 meetings were held with 356 investment         2019                          DOAS        BIST 100
 firms, of which 34 were conducted one-on-

                                                %14
                                                                                      66%                    65%
 one, 6 as a group, and over 300 conference                                                                                       60%
 calls with investors. To provide information
 on the company’s operations, 3 Analyst Days
 and 3 Investor Days were organized.            Foreign Ownership              11%                                       14%
                                                                                                     8%
 Video and telephone calls were conducted
 with more than 300 foreign analysts and
 brokers based in cities including Austin,                                        2017                    2018                 2019
 Boston, Capetown, Chicago, Dallas, Des
 Moines, Hong Kong, Lima, Los Angeles,                                      Earnings Per Share              Price/Earnings Rate
 Miami, Monaco, Montevideo, New York,           2019
 Quito, Salt Lake City, San Francisco, Santa

                                                24,88
                                                                               0,93                                              24,88
 Monica, Singapore and Tokyo to discuss the
 Company’s activities and developments.                                                  0,67

 In the annual “Emerging EMEA Executive
 Team” survey conducted by Institutional        Price/Earnings Rate                              0,38            8,90
                                                                                                                        6,45
 Investor Magazine and highly anticipated
 by the finance community in Europe, 12
 thousand trading professionals evaluate                                       2017      2018    2019            2017   2018      2019
 approximately 400 companies and over 990
 executives from more than 20 industries in
 the “Best CEO,” “Best CFO,” “Best Investor     2019 Award
                                                Most Honored
 Relations Professional,”and “Best Investor
 Relations Program” categories. In the 2019
 survey, Doğuş Otomotiv CFO Kerem Talih
 took third place in the “Best CFO” category
 in the automotive industry, and Investor
                                                Company
 Relations Manager Müge Yücel took
 second place in the “Best Investor Relations
                                                Emerging EMEA
 Professional” category.                        Executive Team

                                                                      Investor Relations Presentation - DOAS Profile - 2020 | 48
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 - 2020 | 49
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.
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