2022 Second Quarter Results

Investor Presentation

KEY

1.

2.

3.

4.

TAKEWAYS

SUMMARY

2Q'22

2Q'22

STRATEGY

OF 2Q'22

OPERATIONAL

FINANCIAL

AND

HIGHLIGHTS

HIGHLIGHTS

TARGETS

2

Total Revenues

Passenger

Revenue

Cargo Revenue Cash & Liquidity Ex-Fuel CASK

43% higher revenue

achieved in 2Q'22

compared to the same

period in 2019.

mn USD

4.535

3.181

2Q'19 2Q'22

Passenger revenue

surpassed 2Q'19 levels

by 25% as recovery gained momentum.

mn USD

3.375

2.696

2Q'19 2Q'22

Cargo revenue more than doubled in 2Q'22 compared to 2Q'19.

mn USD

1.064

393

2Q'19 2Q'22

Liquidity remains strong with ~4.3 bn USD Cash & Eq. at hand.

mn USD

30 Jun. 2022

4.316

31 Dec. 2021

2.682

Ex-Fuel unit costs

decreased by 11% in 2Q'22 compared to the same period in 2019.

USc

4,754,23

2Q'192Q'22

Successful capacity ramp up continues while preserving operational reliability

Quarterly Passenger Capacity

Quarterly Capacity

10-20%

5-15%

12%

-9%

Full recovery

2019 level

91%

1Q'22

2Q'22

3Q'22

4Q'22

2019 ASK in %

Exeeding 2019 Capacity (bn)

Europe Flight Cancellations

1.7%

1.5%

1.2%

0.5%0.6%

April

May

June

Europe

Turkish Airlines

Europe On Time Performance

(OTP+15)

IGA Istanbul Airport

76%

59%

Istanbul (Sabiha)

75%

65%

Rome (FCO)

73%

52%

London (LHR)

63%

45%

Amsterdam

62%

48%

Frankfurt

60%

36%

Paris (CDG)

58%

36%

1st Jan. - 9th Aug.

July

Capacity in the third and fourth quarter will be above

Our flight cancellation rates were lower than the

2019 levels.

European average in April and May.

On time performance of the two airports in Istanbul outperformed major European peers.

Note: Cancellation rates are calculated according to Eurocontrol definition by dividing number of cancellations before the

day of departure (t-1) to total number of planned flights. June figure is yet to be published.

4

Source: Eurocontrol.

Recovery is clearly visible across the board

Passenger Capacity

(ASK bn)

Capacity (ASK bn)

46,1

51,8

25,9

2,0

2Q'19

2Q'20

2Q'21

2Q'22

Total Revenue

Total Reve(mnueUSD)(mn USD)

4.535

3.181

2.176

901

2Q'19

2Q'20

2Q'21

2Q'22

Passenger Demand

(RPK bn)

Demand (RPK bn)

37,0

41,3

16,2

1,4

2Q'19

2Q'20

2Q'21

2Q'22

Profit from Main Operations

Profit from(mnMainUSD)Operations

(mn USD)

530

114

15

2Q'19 2Q'20 2Q'21 2Q'22

-118

Passenger capacity exceeded 2Q'19, while L/F and PAX reached to 2019 levels.

Total Revenue surpassed 2Q'19 by 43%

owing to recovery in passenger traffic and continuing strength in cargo.

Profitability in the second quarter recorded well above pre-pandemic levels.

5

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Turkish Airlines AO published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 13:23:10 UTC.