TSKB Gayrimenkul Yatirim Ortakligi : October 2023 Investor Presentatio

OCTOBER 2023

Company Information

Company Name	: TSKB REAL ESTATE INVESTMENT TRUST
Date of Establishment	: 03.02.2006
Share Capital	: 650.000.000 TL
Listing	: Borsa Istanbul
Ticker Symbol	: TSGYO
Address	: Ömer Avni mah. Karun Çıkmazı sok. No:2
	34427 Fındıklı İstanbul
Web-site	: www.tskbgyo.com.tr
e-mail	: [e-mail]
Phone	: [phone]
Fax	: [phone]

Disclaimer:

This presentation must be read with the disclaimer in the Appendix

Contents

		The Company
	Section I

Section II

Real Estate Portfolio

Section III	Financial Data

Section IV

TSGYO Stock Performance

Section V	Appendix

Highlights

• Established in 2006 as a real estate investment and development company
• Developer of new projects, has demonstrated its ability to ensure profitable project development
• Asset size grew from TL 12 m (2006) to TL 2.4 bn (2023)
• Strong real estate portfolio with a commercial focus enabling reliable revenues derived from rental income
• Aims to achieve sustainable growth - leasable area up from 3k sqm to approximately 65k sqm
• Income-sharingand joint-venture projects under evaluation

TSKB REIT aims to be a leading player in the Turkish real estate sector

Vision & Mission

Vision

To be a "reliable business partner" with a "pioneering role" in its sector

Mission

To establish and maintain a growing and sustainable investment portfolio with high returns.

Shareholders Structure

Experienced main shareholder, Turkey's oldest and largest investment and development bank TSKB, part of the Is Bank Group

Shareholders	Ratio (%)
TSKB	88.74
Other Shareholders & Free Float	11.26
Total	100

Other

Shareholders

• Free Float 11.26%

TSKB

88.74%

* As of October 30,2023, listed shares were held by TSKB, thus, the total share of TSKB was 88,74% as of the date given.

The Company is one of the subsidiaries established by TSKB in the real estate

market, demonstrating the parent company's commitment to the sector:

1. TSKB Real Estate Investment Company
2. TSKB Real Estate Appraisal

Organizational Chart

Management Board

General Manager

Lawyer

Deputy General Manager

Real Estate Asset Management &		Finance & Financial Affairs &
Business Development		Investor Relations

• Real Estate Asset Management	•
• Business Development	•
• Operation	•

Financial Reporting

Investor Relations

Accounting

• Finance

History

• TSKB REIT established in February(2006)
• TSKB contributed the Tahir Han Building as capital in kind in March (2006)
• Land for Pendorya Shopping Center (PSC) purchased in July (2007)
• Land for Adana hotel project purchased in 50% partnership in November (2007)
• Paid in capital upped from TL 10m to TL 75m in December (2007)
• Fındıklı Buildings added to the Company's portfolio in December (2007)
• • TSKB acquired the construction permit for PSC in July (2008)
  • TSKB REIT laid the foundation for PSC in November (2008)
  • Paid in capital was increased to TL 100m (2008)
  • PSC completed and opened to shoppers in December (2009)
  • TSKB REIT on the ISE in April (2010)
  • Paid in capital was increased to TL 150m (2010)
  • Development works for Adana hotel investment project (2010)
  • • Adana hotel (Divan Adana) investment construction works process (2011)
    • Execution of the agreement with Divan Turizm İşletmeleri A.Ş. for the operation of the hotel (2012)
    • Adana Hotel investment (Divan Hotel) construction activities (2012 -2015)
    • Completion of the Divan Adana Hotel and opening in September (2015)
    • • Maintain the research to increase the performance of all real estates by continuing the operation of Divan Adana Hotel and Pendorya Shopping Mall (2016)
      • Paid in capital was increased TL 300m (2018)

2023

• Paid in capital was increased TL 500 m (September 2020)
• Paid in capital was increased TL 650 m (October 2021)
• Asset size grew from TL 12 m (2006) to TL 2.4 bn (2023)

Investment Strategy

Industrial and Geographical Focus

• TSKB REIT's investment strategy is concentrated on commercial real estate due to the regular rent income and cash flow pattern which can be obtained from these kinds of assets.
• Business and shopping centers, tourism facilities, logistic warehouses and industrial plants are typical investment projects that the Company would like to add to its real estate portfolio.
• Residential investments can be another area of attraction as a part of a mixed use project or with respect to their potential profitability in stand-alone cases.

The Goal of Growth by Project Development

• TSKB REIT adheres to an investment strategy which seeks to take a project from its initial conception and to develop it, to organize all project-essential activities in the developmental process, and to complete the project in such a way as to ensure its viability.
• By holding onto the investments which are added to its property portfolio on a long-term basis, the Company's aim is not only to achieve sustainable growth but also to take advantage of the likely appreciation in the properties' value in the long run.

Risk Calculation

• TSKB REIT engages in a painstaking planning process in order to minimize risk factors as much as possible by verifying a project's commercial viability before starting it, making sure that the financial resources required by the project will be available, and ensuring that the project is in compliance with existing laws and regulations.

Section I

The Company

	Section II	Real Estate Portfolio

Section III	Financial Data

Section IV

TSGYO Stock Performance

Section V	Appendix