TURKISH AIRLINES. 2Q 16 Results Summary. 1Q 14 Results

TURKISH AIRLINES 2Q 16 Results Summary 1Q 14 Results 1

Key Financial Data 2Q'15 2Q'16 Change (USD mn) 1H'15 1H'16 Change 2,570 2,444-4.9% Revenue 4,789 4,632-3.3% 2,287 2,140-6.4% Passenger Revenue 4,228 4,071-3.7% 84-206 - Net Operating Profit / Loss 50-486 - 174-197 - Profit / Loss From Main Operations 192-411 - 253-226 - Net Income 406-647 - 9.8% -9.2% -19.1 pt Net Income Margin 8.5% -14.0% -22.4 pt 565 319-43.6% EBITDAR 924 534-42.2% 22.0% 13.0% -9.0 pt EBITDAR Margin 19.3% 11.5% -7.8 pt (USD mn) 2015 30.06.2016 Change Net Debt 5,489 7,754 41.3% Total Assets 16,383 18,115 10.6% 2

Revenue Development (2Q 15 vs 2Q 16) (mn USD) Volume Decrease in Cargo and Other Rev. Currency LF +246 +21-44 -139 Pax RASK (ex-currency, ex-lf effect) -210 2,287 Passenger (-6%) 2,140 241 42 Cargo (5%) Other (21%) 253 51 2,570 Total Revenue (-5%) 2,444 2Q 15 2Q 16 3

Revenue Development (1H 15 vs 1H 16) (mn USD) Volume +619 Currency -167 LF -219 Pax RASK (ex-currency, ex-lf effect) -390 4,228 Passenger (-4%) 4,071 465 96 Cargo (0%) Other (1%) 4,789 Total Revenue (-3%) 4,632 464 1H 15 1H 16 97 4

Unit Revenue Development RASK (USc) R/Y (Usc) 6.39 5.47 5.57 6.38 5.39 5.58 7.67 6.90 7.03 7.71 6.82 7.06 2Q'15 2Q'16 2Q'16 ex-currency 1H'15 1H'16 1H'16 ex-currency 2Q'15 2Q'16 2Q'16 ex-currency 1H'15 1H'16 1H'16 ex-currency Industry Comparison (1H 16) Lower fuel prices and increased capacity supply continued to pressure yields. 6.2% 14.8% (Scheduled) Industry (IATA) Turkish Airlines -6.5% -9.0% -11.6% -8.4% ASK Growh Yield Change* Yield Change ex-currency* Yield (R/Y): Passenger Revenue/RPK (Scheduled); RASK: Passenger and Cargo Revenue/ASK(Scheduled-cargo adj.) Source: IATA Industry Economic Performance (2015), Airlines Financial Monitor (June 2015), IATA yield data is for Jan-May period. 5 Istanbul and European terror attacks depressed yields futher due to decreased local demand. Newly opened long-haul routes decreased yields further due to stage lenght effect. Active capacity management is aimed to alleviate the effects of capacity surplus on RASK. Measures include reducing frequencies and downgauging aircraft in the demand-challenged routes while preserving the network integrity. New touristic routes is to support winter season (Seychelles, Cuba, Hanoi, Bogota, Panama)

Regional Yield Development in USD (2Q 15 vs 2Q 16) America Europe & CIS Asia / Far East ASK RASK R/Y R/Y excurrency ASK RASK R/Y R/Y excurrency ASK RASK R/Y R/Y excurrency 22.2% 5.8% 6.6% 1.0% -18.4% -15.2% -14.3% -14.5% -7.2% -7.2% -12.9% -11.3% Africa Domestic Middle East ASK RASK R/Y 21.9% R/Y excurrency ASK RASK R/Y R/Y excurrency ASK RASK R/Y 20.9% R/Y excurrency 4.2% 1.8% -7.6% -2.8% -0.6% -5.3% -5.7% -25.5% -13.1% -12.9% R/Y : Yield : Passenger Revenue / RPK (Scheduled) RASK : Passenger and Cargo Revenue / ASK* (Scheduled) * ASK value is adjusted for cargo operations. 6

Regional Yield Development in USD (1H 15 vs 1H 16) America Europe & CIS Asia / Far East ASK RASK R/Y R/Y excurrency ASK RASK R/Y R/Y excurrency ASK RASK R/Y R/Y excurrency 29.4% 9.5% 10.6% -19.4% -15.5% -14.3% -15.6% -9.3% -7.7% -15.1% -13.1% -11.0% Africa Domestic Middle East ASK RASK R/Y 25.6% R/Y excurrency ASK RASK R/Y R/Y excurrency ASK RASK R/Y 20.0% R/Y excurrency 7.0% 1.7% -9.2% -6.5% -2.9% -9.1% -9.8% -20.9% -10.6% -9.6% R/Y : Yield : Passenger Revenue / RPK (Scheduled) RASK : Passenger and Cargo Revenue / ASK* (Scheduled) * ASK value is adjusted for cargo operations. 7

Profit From Main Operations Bridge (2Q 15 vs 2Q 16) (mn USD) Fuel Currency Utilization +21-79 +187-81 Other Ex-fuel Unit Cost (ex-currency ex-utilization ex-l/f) 174 Revenue Impact: -43 mn USD Cost Impact: +64 mn USD -82 LF -121 RASK (ex-currency ex-lf) -216-197 2Q 15 Profit / Loss From Main Operations 2Q 16 8

Profit From Main Operations Bridge (1H 15 vs 1H 16) (mn USD) Fuel Currency Other Utilization +398 +53-67 -94 LF -190 Ex-fuel Unit Cost (ex-currency ex-utilization ex-l/f) 192 Revenue Impact: -164 mn USD Cost Impact: +217 mn USD -242 RASK (ex-currency ex-lf) -462-411 1H 15 Profit / Loss From Main Operations 1H 16 9

Operational Expense Breakdown 2Q'15 2Q'16 Change (mn USD) 1H'15 1H'16 Change 791 672-15.0% Fuel 1,476 1,276-13.6% 408 480 17.6% Personnel (1) 820 973 18.7% 346 420 21.4% Aircraft Ownership 659 814 23.5% 230 244 6.1% Airports & Air Navigation 433 468 8.1% 236 272 15.3% Sales & Marketing 436 513 17.7% 157 168 7.0% Ground Handling 301 322 7.0% 146 150 2.7% Passenger Services & Catering 283 292 3.2% 112 166 48.2% Maintenance (2) 207 309 49.3% 20 30 50.0% General Administration 44 56 27.3% 40 48 20.0% Other Cost of Sales 80 95 18.8% 2,486 2,650 6.6% TOTAL 4,739 5,118 8.0% ASK Growth: 10.6% ASK Growth: 14.6% Notes: (1) Includes onetime net payment made to the unionized staff amounting 39 mn USD, 7% wage increase for the first half and 6% for the second half of 2016. (2) Increase in maintenance expense is due to unit cost increase, shortfall in heavy maintenance provisions (53 mn USD), rescheduling regular maintenance checks to earlier date in order to benefit from lower utilization levels (31 mn USD). 10

CASK Breakdown 2Q'15 2Q'16 Change (USc) 1H'15 1H'16 Change 2.06 1.59-23.2% Fuel 2.07 1.56-24.5% 1.07 1.13 6.4% Personnel 1.15 1.19 3.6% 0.90 0.99 9.8% Aircraft Ownership 0.92 1.00 7.8% 0.60 0.58-4.1% Airports & Air Navigation 0.61 0.57-5.6% 0.62 0.64 4.2% Sales & Marketing 0.61 0.63 2.7% 0.41 0.40-3.2% Ground Handling 0.42 0.39-6.6% 0.38 0.35-7.1% Passenger Services & Catering 0.40 0.36-9.9% 0.29 0.39 34.0% Maintenance 0.29 0.38 30.3% 0.05 0.07 35.6% General Administration 0.06 0.07 11.1% 0.10 0.11 8.5% Other Cost of Sales 0.11 0.12 3.7% 6.49 6.26-3.6% TOTAL 6.64 6.26-5.7% CASK ex-currency change: -1.7% Ex-fuel CASK ex-currency change: +8.6% (1) (1) Increase in constant currecy ex-fuel CASK results from 17% increase in personnel, 6% increase in sales&marketing (seasonal, should normalise for full year) and increase in maintenance CASK (+%37). 11

Selected KPI s 2Q'15 2Q'16 Change 1H'15 1H'16 Change 735 575-21.8% Fuel Price (Usd/ton) 738 563-23.8% 3.51 3.45-1.8% Fuel Consumption (lt) per 100 ASK 3.50 3.47-1.0% 1,059 1,224 15.5% Aircraft Ownership Cost per BH 1,083 1,218 12.5% 343 484 41.1% Maintenance Cost per BH 340 463 36.0% 1,369 1,421 3.8% Handling Cost per Landing 1,417 1,424 0.5% 1,067 1,063-0.4% Airports & Air Navigation Cost per km Flown 1,061 1,049-1.2% 9.34 9.44 1.1% Passenger Services & Catering Cost per Pax 9.93 9.72-2.2% 10.3% 12.7% 2.4 pt Sales & Marketing Cost / Passenger Revenue 10.3% 12.6% 2.3 pt 12

EBITDAR Calculation 2Q'15 2Q'16 Change (mn USD) 1H'15 1H'16 Change 2,570 2,444-5% Sales Revenue 4,789 4,632-3% 2,122 2,221 5% Cost of Sales (-) 4,035 4,290 6% 448 223-50% GROSS PROFIT / (LOSS) 754 342-55% 62 83 34% General Administrative Expenses (-) 135 165 22% 302 346 15% Marketing and Sales Expenses (-) 569 663 17% 84-206 - NET OPERATING PROFIT / (LOSS) 50-486 - 99 8-92% Other Operating Income 158 81-49% 9-1 - Other Operating Expense (-) 16 6-63% 174-197 - Profit / (Loss) from Main Operations 192-411 - 44 43-2% Adjustments 42 37-12% 25 22-12% Share of Investments' Profit / Loss Accounted by Using The Equity Method 12-2 - 19 21 11% Income From Government Incentives 30 39 30% 218-154 - EBIT 234-374 - 222 286 29% Depreciation 425 556 31% 440 132-70% EBITDA 659 182-72% 83 146 77% Adjusted Operating Lease Expenses * 190 274 44% 42 40-5% Adj. Short term Lease Expenses (Wet-lease) ** 75 78 4% 565 319-44% EBITDAR 924 534-42% 22.0% 13.0% -9.0 pt EBITDAR MARGIN 19.3% 11.5% -7.8 pt Notes: (*): Adjusted for A/C heavy maintenance (**): Adjusted for A/C rent portion (Aprox. 55%) (1) For the 1H 16 Turkish Technic s contribution to EBITDAR through consolidation is 83 mn USD, compared to 40 mn in 1H 15. (2) For 1H 16 adjustments for heavy maintenance of operational lease expenses were 158 mn USD compared to 93 mn USD in 1H 15. 13

Currency Gains/Losses and Hedging Results on P&L USD (in millions) 30.06.2016 Net Operational Profit -486 Other Operational Income/Expense +75 of which FX Gains from operating items (1) +11 Profit /Loss from Main Operations -411 Income from Investment Activities (Net) +36 Share of Subsidiaries Profit/Loss -2 FX Loss from Financing Activities (2) -462 FX Gain on Currency Hedging (3) +19 Interest Income +15 Interest Expense -90 Other Financial Income/Expense +76 of which fair value losses of derivative inst.(4) +47 Profit Before Tax -819 Tax +172 Net Profit -647 1) Fx Gains from Operating Items Rise from operational balance sheet items such as trade receivables, payables or TRY liabilities to government most of which are realised cash gains. 2) Fx Loss from Financing Activities Unrealized currency translation differences between two balance sheet periods which is reflected into the income statement as FX Loss, hence increasing USD debt levels. EUR: JPY: CHF: -26 mn USD -434 mn USD -2 mn USD 3) Currency Hedging Results Results for hedging short positions on USD (mostly from previous contracts) and TRY against EUR 4) Fair Value Losses on Hedging Contracts Fair value gains/losses (MTM) of hedging contracts are reflected to the balance sheet. Only ineffective portion of hedges (determined each quarter through an effectiveness test) are reflected to P&L. Important Note: Our long term (10-12 years) borrowing needs are financed through different currencies in which annual debt repayment obligations can be easily fulfilled directly from the cash generated from our operations in each of the respective currency eliminating any FX exposure. 14

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TURKISH AIRLINES 1H 16 Results 1Q 14 Results 16

Aviation Market & Economy Turkish Market Growth (mn pasengers) Annual GDP Growth Forecast (2015-2034) 11-18E CAGR 59.4 65.6 29.1 32.4 Domestic (*) International 10.8% 8.3% 80.3 83.9 81.7 73.3 48.7 50.8 42.7 38.1 95.3 54.9 104.0 59.8 Africa Asia-Pacific M.East Latin America World 4.5% 4.3% 3.8% 3.4% 3.1% North America 2.5% 2011 2012 2013 2014 2015 2016E 2017E 2018E Source: General Directorate of State Airports Authority (DHMI) (*): Adjusted for double count on Domestic Pax CIS Europe 1.8% 2.4% Annual RPK Growth (%) Annual RPK Growth Forecast (2015-2034) 22.9% 26.7% 23.2% 21.3% M.East Asia-Pacific 6.2% 6.1% 16.1% Latin America 6.0% 11.7% Africa 5.7% 6.3% 5.3% 5.7% 6.0% 5.6% 7.1% World 4.9% Europe 3.8% 2011 2012 2013 2014 2015 2016F World RPK Growth THY RPK Growth CIS North America 3.1% 3.7% Source: IATA 17 Source: Boeing Current Market Outlook

Weekly Flights Turkish Airlines Diagonal Growth 12,000 11,000 10,000 9,000 2016E 61.2 mn pax 54.7 mn pax 48.3 mn pax 2015-299 8,000 7,000 32.6 mn pax 39 mn pax 2013-214 2014-261 6,000 5,000 22.6 mn pax 25.1 mn pax 29.1 mn pax 2010-153 2011 180 2012 202 4,000 3,000 2,000 16.9 mn pax 14.1 mn pax 2005-83 2008-127 2007-101 2006-103 2009-132 19.7 mn pax Destinations 1,000 100 110 120 130 140 150 160 170 180 190 200 210 220 230 240 250 260 270 280 290 300 310 * Diameters of the bubbles are proportional to the number of passengers carried. 18

Destinations: 241* International, 49 Domestic Lines in 116 Countries EUROPE AFRICA MIDDLE EAST Germany 348 Russia 70 Belgium 35 Moldova 7 Egypt 35 Gabon 5 Saudi Arabia 123 UAE 35 China 34 Bangladesh 7 Munich 42 Moscow 31 Brussels 35 Chisinau 7 Cairo 21 Libreville 5 Jeddah 35 Dubai 24 Beijing 7 Dhaka 7 Frankfurt 41 Sochi 7 Bulgaria 30 Poland 5 Alexandria 7 Mali 5 Madinah 25 Abu Dhabi 11 Guangzhou 7 Indonesia 7 Berlin 41 St. Petersburg 7 Sofia 19 Warsaw 5 Hurghada 7 Bamako 5 Riyadh 24 Lebanon 21 Shanghai 7 Jakarta 7 Stuttgart 35 Kazan 5 Varna 11 Belarus 4 Sharmel-Sheikh - Burkina Faso 4 Dammam 21 Beirut 21 Taipei 7 Maldives 7 Düsseldorf 35 Rostov 4 Hungary 25 Minsk 4 Algeria 35 Ougadougou 4 Yanbu 10 Jordan 17 Hong Kong 6 Male 7 Cologne 35 Ekaterinburg 4 Budapest 25 Slovakia 3 Algiers 21 Cote D'Ivore 4 El Qassim 5 Amman 14 Pakistan 28 Singapore 7 Hamburg 28 Ufa 3 Romania 25 Kosice 3 Oran 7 Abidjan 4 Taif 3 Akabe 3 Karachi 14 Singapore 7 Hanover 28 Astrakhan 3 Bucharest 21 Constantine 3 Chad 4 Iran 73 Qatar 14 Islamabad 7 Sri Lanka 7 Nuremberg 21 Novosibirsk 3 Constanta 4 Tlemcen 2 N'Djamena 4 Tehran 37 Doha 14 Lahore 7 Colombo 7 Bremen 14 Stravropol 3 Czech Rep. 21 Batna 2 Benin 4 Mashad 7 Bahrain 12 Kyrgyzstan 20 Uzbekistan 7 Friedrichshafen 7 Switzerland 67 Prague 21 South Africa 21 Cotonou 4 Shiraz 7 Bahrain 12 Bishkek 15 Tashkent 7 Routes Opened Leipzig 7 Zurich 28 Croatia 21 Johannesburg 10 Mozambique 4 Tabriz 7 Oman 9 Osh 5 Philippines 7 Münster 7 Geneva 25 Zagreb 14 Zaporijya Cape Town 7 Maputo 4 Isfahan 7 Muscat 9 Kazakhstan 15 Manila 7 Baden-Baden 7 Basel 14 Dubrovnik 7 Ivano-Frankivsk Durban 4 Niger 3 Kermanshah 4 Syria - Almaty 10 Tajikistan 5 Italy 149 Ukraine 55 Portugal 21 Dubrovnik Nigeria 18 Niamey 3 Ahvaz 4 Aleppo - Astana 5 Dushanbe 3 Milan 35 Kiev 16 Lisbon 14 Kosice Lagos 7 Eritrea 3 Israel 63 Damascus - Japan 14 Khujand 2 Rome 35 Odessa 11 Porto 7 Abuja 7 Asmara 3 Tel Aviv 63 Yemen - Tokyo 7 Nepal 4 Venice 24 Ivano-Frankivsk 7 Bosnia 18 Kano 4 Madagascar 3 Iraq 62 Aden - Osaka 7 Kathmandu 4 Bologna 17 Dnepropetrovsk 7 Sarajevo 18 Cameroon 14 Antananarivo 3 Erbil 20 Sanaa - India 14 Mongolia 3 Naples 10 Kherson 7 Finland 18 Douala 7 Mauritius 3 Baghdad 14 Mumbai 7 Ulaanbaatar 3 Catania 7 Zaporijya 4 Helsinki 18 Yaounde 7 Port Louis 3 Basra 10 New Delhi 7 Turin 7 Lviv 3 Norway 18 Kenya 14 Libya - Sulaymaniyah 11 Thailand 14 Pisa 5 Simferopol - Oslo 18 Mombasa 7 Misurata - Najaf 7 Bangkok 14 Future Routes Bari 5 Donetsk - Albania 14 Nairobi 7 Benghazi - Mosul - Turkmenistan 14 Future Routes Genoa 4 Austria 54 Tirana 14 Tanzania 14 Sebha - Kuwait 48 Saudi Arabia Ashgabat 14 Routes Opened France 101 Vienna 37 Ireland 14 Azerbaijan Dar Es Selaam 7 Tripoli - Kuwait 48 Abha Malaysia 14 Paris 46 Salzburg 10 Dublin 14 Lankeran Kilimenjaro 7 Kuala Lumpur 14 Hanoi Lyon 14 Graz 7 Kosovo 14 Poland Tunisia 14 South Korea 11 Routes Opened Nice 14 Northern Cyprus 51 Pristina 14 Krakow Tunis 14 Seoul 11 AMERICAS Marseille 13 Lefkosa 51 Macedonia 14 France Djibouti 7 Maputo Afghanistan 10 Future Routes Toulouse 7 Azerbaijan 47 Skopje 14 Nantes Djibouti 7 Durban Kabul 7 6 COUNTRIES, 15 CITIES Bordeaux 7 Baku 37 Serbia 14 Ukraine Ethiopia 7 Antananarivo Mazar-ı Sharif 3 Thailand UK 101 Ganja 7 Belgrade 14 Kharkiv Addis Ababa 7 Port Louis USA 84 Columbia 3 Vietnam 10 Phuket London 66 Nakhichevan 3 Malta 14 Spain Ghana 7 New York 21 Bogota 3 Ho Chi Minh 5 Indonesia Manchester 21 Netherlands 45 Malta 14 La Coruna Accra 7 Los Angeles 11 Panama 3 Hanoi 5 Denpasar Birmingham 14 Amsterdam 38 Slovenia 14 Russia Morocco 7 Washington 10 Panama 3 Spain 88 Rotterdam 7 Ljublijana 14 Makhachkala Casablanca 7 Boston 7 DOMESTIC Barcelona 32 Greece 44 Montenegro 12 Romania Rwanda 7 Chicago 7 Future Routes Routes Opened Madrid 21 Athens 30 Podgorica 12 Cluj Kigali 7 Houston 7 49 CITIES Malaga 21 Thessaloniki 14 Scotland 10 Somalia 7 Angola Miami 7 Bogota Valencia 7 Sweden 42 Edinburgh 10 Mogadishu 7 Luanda Atlanta 7 Panama Bilbao 7 Stockholm 28 Estonia 7 Sudan 7 Egypt San Francisco 7 Atlanta Gothenburg 14 Tallinn 7 Khartoum 7 Aswan Canada 9 Miami Denmark 38 Latvia 7 Uganda 7 Luxor Toronto 6 Copenhagen 28 Riga 7 Entebbe 7 Guinea Montreal 3 Aalborg 5 Lithuania 7 Mauritania 7 Conakry Argentina 7 Future Routes Billund 5 Vilnius 7 Nouakchott 7 Seychelles Buenos Aires 7 Cuba Georgia 38 Luxemburg 7 Senegal 7 Seychelles Brazil 7 Havana Tbilisi 28 Luxembourg 7 Dakar 7 South Sudan Sao Paulo 7 Mexico Batumi 10 Congo 5 Juba Mexico City Kinshasa 5 Venezuela Caracas FAR EAST 43 COUNTRIES, 109 CITIES 31 COUNTRIES, 48 CITIES 13 COUNTRIES, 34 CITIES 22 COUNTRIES, 35 CITIES * As of 30.06.2016. Numbers shown on the second columns represent weekly flight frequencies. 19

Istanbul s Geographical Advantage - A Natural Hub Narrow Body Range Capability to and from Istanbul (with full passenger payload) Wide Body Range SFO 199 out of 241 international destinations More than 40% of world-wide international traffic Over 60 national capitals All of Europe, Middle East, Central Asia and North and East Africa LAX IAH MEX ORD ATL JFK YYZ HAV YUL MIA IAD BOS PTY BOG CCS ISTANBUL NRT KIX ICN PEK PVG CAN HKT BKK TPE HKG KUL SIN SGN MNL CGK Highest Coverage of Non-Hub Cities We fly to 44 of the Global Top 50 Hub Airports Outside Top 50 Hubs Among Top 50 Hubs # of Total Int l Airports Int l Pax Coverage (%) THY 197 44 236 78.5% British Airways 116 43 159 77.6% Lufhansa 97 44 141 78.1% Emirates 91 41 132 74.0% GRU EZE TNR MPM MRU JNB DUR CPT Narrow Body Range Current Wide Body destinations Future Wide Body destinations Air France 84 39 123 67.1% Source: Passenger data from IATA, route data from OAG. Retrieved on 2 November 2015. 20

Highest Connectivity for Europe, Africa and Middle East Airlines Connectivity by Number of O&D Pairs (Top Three) Detour* Advantage Europe to the World Turkish Airlines 20,096 British Airways 10,710 Lufthansa 8,658 Middle East to the World Turkish Airlines 8,534 Qatar Airways 3,132 British Airways 2,178 From Europe Via Istanbul To Far East 10% Africa to the World Turkish Airlines 11,376 Air France 4,488 British Airways 3,264 Far East to the World United Airlines 9,176 Turkish Airlines 8,534 Delta 5,236 17% To Africa 6% To Middle East * Detour: Increase in the flight distance compared to a non-stop flight. Forecasted by using 6,000 arrival-departure cities Source: Retrieved from OAG on 3 May 2016. 21

Global Market Share Development Global Market Share Trends (in ASK) 4.6% 4.3% 4.1% 4.1% 2.8% 2.7% 2.4% 2.2% 2.2% 2.1% 2.0% 1.9% 1.7% 1.7% 1.6% 1.5% 1.5% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% American Delta United Emirates China Southwest Southern China Eastern Air China Lufthansa Turkish Airlines British Airways Air France Qantas Cathay Pacific LATAM Ryanair Singapore 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016F Turkish Airlines Market Share Development Capacity (bn ASK) Global Market Share 1.6% 1.3% 0.6% 0.5% 114 0.5% 0.6% 0.7% 0.7% 0.8% 0.9% 1.2% 1.0% 24 24 26 30 37 42 46 57 65 78 94 2.1% 1.8% 1.9% 186 153 135 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016F Notes: For US carriers regional flights are excluded. Wholly owned subsidiaries are included in the calculation. 2016 capacities are obtained from OAG on 12 February 2016. Lufthansa figures include Lufthansa Passenger Airline and germanwings. Source: 2002 ICAO, 2003-2015 IATA, 2016F OAG, company reports, ATW, AEA, sorted by 2016F ASK values. 22

Passenger Traffic (1H 16) Total Passengers (mn) THY Passenger Traffic Domestic International 1H'15 vs 1H'16 61.2 54.8 48.3 32.6 39.0 34.9 32.1 28.2 18.2 23.1 14.5 15.9 20.1 22.7 26.3 28.5 30.1 16.3 16.9 12.2 13.1 Landing up by 6.4% ASK up by 14.6% RPK up by 8.7% Passenger # up by 5.5% L/F down by -3.9 pt 2011 2012 2013 2014 2015 1H'15 1H'16 Load Factor (L/F %) Annual Changes (%) 76.9 72.6 71.9 Total L/F Domestic L/F International L/F 83.5 81.9 83.0 83.0 79.2 79.7 79.0 79.3 77.9 77.6 77.7 78.9 78.9 77.4 77.1 76.8 73.7 72.4 2011 2012 2013 2014 2015 ASK 25% 18% 21% 16% 14% RPK 23% 27% 23% 16% 12% PAX 12% 20% 24% 14% 12% L/F (pt) -1.1 +5.1 +1.4 +0.3-1.4 2011 2012 2013 2014 2015 1H'15 1H'16 23

Passenger Breakdown (1H 16) Int l to Int l Transfer Passengers ( 000) Int l Passenger Breakdown by Geography Americas 1H 16 6,876 9,937 12,882 15,564 18,385 8,316 9,852 Africa Far East Middle East 6% 8% 8% 7% 13% 13% 1H 15 15% 15% 57% 58% Europe 2011 2012 2013 2014 2015 1H'15 1H'16 Passenger Breakdown by Transfer Type Note: Includes only scheduled passengers. Passenger Breakdown by Cabin Class 1H 16 Domestic 33% Int l-int l 29% Transfer 44% 43% Economy 1H 15 96% Business 4% 14% 12% 14% 12% Int l-dom Transfer Int l Direct Note: Int l to int l transfer passengers share in total international passengers is 58%. Note: Includes only scheduled passengers. 24

Total Revenue and Expenses Revenues (mn USD) Expenses (mn USD) International Pax Domestic Pax Other Fuel Personnel Other 12,000 10,000 8,000 6,000 4,000 2,000 0 11,070 10,522 9,826 1,296 1,212 8,234 1,144 1,401 1,349 7,070 911 1,278 931 1,040 1,061 4,789 4,632 581 8,373 577 7,961 7,404 611 590 6,283 5,078 3,597 3,465 2011 2012 2013 2014 2015 1H'15 1H'16 12,000 10,000 8,000 6,000 4,000 2,000 0 10,429 9,840 9,249 7,616 4,929 6,855 4,226 5,203 3,353 5,118 3,122 4,739 1,694 1,581 1,376 1,640 2,443 2,869 1,339 3,442 3,806 820 973 2,394 2,887 2,997 1,476 1,276 2011 2012 2013 2014 2015 1H'15 1H'16 Note: Other revenue includes cargo, charter and other revenue 25

Revenue Breakdown (1H 16) Revenue by Business Type Revenue by Geography Technic 1.7% Cargo 10.0% Charter 0.3% Other 0.4% Africa Americas 1H 16 10% 8% 29% 14% 12% 30% Europe Passenger 87.5% Middle East Domestic 12% 1H 15 12% 13% 23% 13% 23% Far East Note: Includes scheduled passenger and cargo revenue Revenue by Passenger Class Revenue by Point of Sale Africa America 5% Business 10% 23% 29% Middle East 10% Economy 77% Economy 77.2% Domestic: International: Far East %45 %55 10% Internet / Call Center 18% Turkey 19% Europe Domestic: International: %44 %56 Note: Includes only scheduled passenger revenue 26

Unit Operating Costs Cost Per ASK (Usc) 10.0 CASK Personnel/ASK Fuel/ASK Others/ASK 8.0 8.46 7.92 7.95 7.74 6.42 6.64 6.26 6.0 4.0 2.95 3.85 3.49 3.63 3.66 3.40 3.42 3.51 2.0 3.00 2.96 2.82 1.96 2.07 1.56 0.0 1.65 1.43 1.36 1.26 1.07 1.15 1.19 2011 2012 2013 2014 2015 1H'15 1H'16 27

17,876 19,108 23,157 25,117 27,688 26,295 30,096 Operating Efficiency Personnel Efficiency 1,826 2,043 2,084 2,181 2,212 2011 2012 2013 2014 2015 1H'15 1H'16 Number of Personnel Passenger per Employee * Turkish Technic and THY Aydın Çıldır Personnel is included. Average Daily Flight Utilization (hrs) 13:18 11:40 14:20 12:11 15:04 14:59 15:04 15:11 12:39 12:41 12:43 12:43 14:03 12:01 11:20 11:47 12:18 12:12 12:05 12:05 11:20 2011 2012 2013 2014 2015 1H'15 1H'16 WB Long-Haul NB Medium-Haul Total 28

EBITDAR Margin 30% AVG (2011-2015): 19.5% 25% 24.5% 20% 16.0% 19.5% 18.8% 18.8% 19.3% 15% 11.5% 10% 5% 0% 2011 2012 2013 2014 2015 1H'15 1H'16 (mn USD) 2011 2012 2013 2014 2015 1H'15 1H'16 YoY Change Revenue 7,070 8,234 9,826 11,070 10,522 4,789 4,632-3.3% Net Income 11 657 357 845 1,069 406-647 - Net Income Margin 0.2% 8.0% 3.6% 7.6% 10.2% 8.5% -14.0% -22.4 pt EBIT 277 691 755 808 1,039 234-374 - EBIT Margin 3.9% 8.4% 7.7% 7.3% 9.9% 4.9% -8.1% -13.0 pt EBITDAR 1,130 1,603 1,843 2,085 2,580 924 534-42.2% EBITDAR Margin 16.0% 19.5% 18.8% 18.8% 24.5% 19.3% 11.5% -7.8 pt 29

Turkish Delta American Singapore United IAG Etihad AF-KLM Lufthansa* Delta American United IAG AF-KLM Turkish Lufthansa* 10.3% 12.9% 11.5% 10.9% 13.3% 15.5% 17.2% 16.5% 22.4% 21.5% 20.5% 20.4% 18.7% 25.6% 24.5% 24.3% Peer Group vs Turkish Airlines Profitability EBITDAR Margin Comparison 2015 Annual 1H 16 * Lufthansa Passenger Airline Group. Source: Calculated based on public company reports. 30

Turkish Delta Lufthansa* United American IAG Singapore Emirates AF-KLM Etihad 663 869 820 1,174 1,451 1,710 1,698 1,970 2,212 2,163 Peer Group vs Turkish Airlines Efficiency PAX Per Personnel (2015) Cost Per ASK (1H 16) - USc Fuel/ASK Personnel/ASK Others/ASK 9.29 9.24 8.02 7.88 7.80 7.65 4.7 5.6 4.1 4.3 4.0 4.1 6.26 3.5 2.8 1.8 2.6 2.4 1.9 2.4 1.2 1.7 1.8 1.3 1.2 1.9 1.1 1.6 AF-KLM Lufthansa* United Delta IAG American Turkish * Lufthansa Passenger Airline Group. Source: Calculated based on public company reports. 31

Fleet 30.06.2016 Type Total Owned Wide Body Narrow Body Cargo Financial Lease Opr./Wet Lease Seat Capacity Average Fleet Age Year End Fleet* 2016 2017 2018 2019 2020 2021 2022 A330-200 20 5 15 5,018 8.9 20 18 18 16 13 13 8 A330-300 30 29 1 8,672 2.7 30 37 37 37 37 37 37 A340-300 4 4 1,080 18.1 4 4 4 4 4 4 4 B777-3ER 31 29 2 10,897 2.9 32 35 35 34 32 32 32 Total 85 4 63 18 25,667 4.9 86 94 94 91 86 86 81 B737-900ER 15 15 2,355 3.0 15 15 15 15 15 15 15 B737-9 MAX 5 10 10 10 B737-800 83 25 47 11 13,102 8.7 76 70 53 53 53 53 53 B737-700 1 1 124 10.3 1 1 1 1 B737-8 MAX 20 30 55 65 65 A321 NEO 14 39 61 86 92 A319-100 14 6 8 1,848 8.2 14 11 9 8 6 6 6 A320-200 29 12 17 4,572 9.1 29 22 19 12 12 12 12 A321-200 63 59 4 11,470 4.4 66 68 68 68 66 64 64 B737-800 WL 25 25 4,914 10.1 37 40 46 43 35 33 29 B737-700 WL E195 WL 3 3 354 9.0 3 Total 233 25 139 69 38,739 7.3 241 227 245 274 313 344 346 A330-200F 7 7 3.3 8 9 9 9 9 9 9 Wet Lease 4 4 19.5 4 Total 11 7 4 9.2 12 9 9 9 9 9 9 GRAND TOTAL 329 29 209 91 64,406 6.8 339 330 348 374 408 439 436 *After exit-entry Seat Capacity Change : 17% 1% 5% 6% 6% 7% -1% 32

Fleet Development 2011-2022 Aircraft Purchases Delivered To Be Delivered 30.06.2016 Type 2011 2012 2013 2014 2015 2016 TOTAL 2016 2017 2018 2019 2020 2021 2022 TOTAL A330-300 3 3 2 6 7 5 26 Wide Body B777-3ER 7 4 7 6 24 3 3 Total 10 3 2 10 14 11 50 3 3 B737-900ER 2 7 1 5 15 B737-9 MAX 5 5 10 B737-800 2 2 6 10 14 34 6 6 Narrow Body B737-8 MAX 20 10 25 10 65 A321 8 7 9 13 7 44 3 2 5 A321 NEO 14 25 22 25 6 92 A319 6 6 Total 18 16 16 10 18 21 99 9 2 34 40 52 35 6 178 Cargo A330-200F 1 1 2 1 1 6 1 1 2 Total 1 1 2 1 1 6 1 1 3 GRAND TOTAL 29 20 20 20 33 33 155 10 6 34 40 52 35 6 184 33

THY Price (USD per barrel) Hedging Fuel Price Risk Effect of Hedging on the Fuel Price Fuel Hedging Policy 150 140 130 120 110 100 90 80 70 60 50 40 30 20 10 0 Assuming no hedging THY Price (inc. all positions) Market Price: THY Price: Hedging Result: Hedging result 50 USD 51 USD -1 USD 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 Market Price (USD per barrel) Around 26 mn barrels of hedged position on ICE BRENT as of June 30, 2016. Current fuel hedging levels: FY16: 46% (10 mn barrel) FY17: 28% (14 mn barrel) 50% 48% 46% 44% 42% 40% 38% 35% 33% 31% 29% 27% 25% 23% 21% 19% 17% 15% 13% Active Surcharge Policy: 50% of fuel cost is reflected to ticket prices Decreasing layered hedging strategy (24 months) Crude oil based swaps and options Aim to reach 50% of following months budgeted consumption 10% 8% 6% 4% 2% 34

Hedging Currency Risk (1H 16) Revenue by Currency (1) JPY 1.1% Other 0.5% Hedging Currency Risk Hedging Policy EUR Cor. TRY 3.3% 16.5% 44.7% USD Monthly gradually decreasing layered hedging strategy Each contract for 24-month period Target hedge levels: 30% for TRY, 25-35% for USD Flexible hedge strategy with respect to conditions EUR 23.3% 10.6% Current currency hedging matrix: Expenses by Currency JPY 0.3% USD Cor. Other Jul.-Dec. 16 Hedging Levels* Average Price EUR/USD 23% 1.17 EUR/TRY 27% 3.45 * Percentage of respective short positions. As of 30 June 2016. EUR 11.7% 5.2% 51.4% USD TRY 31.5% (1) Currencies that have 85% correlation with USD and EUR considered as USD and EUR correlated respectively. 35

Debt Management and Aircraft Financing As of 30.06.2016 Weighted Average Interest Rate: 2.6% Total Financial Lease Liabilities: 9.1 bn USD Operational Leases: 0.8 bn USD 996 5 Year Maturity Profile (USD mn) 1,163 1,005 963 973 Fixed 76% Floating 24% 2016 2017 2018 2019 2020 Currency Breakdown of Financial Lease Liabilities JPY 33% CHF 3% EUR 36% USD 28% (mn USD) 30.06.2016 Total Debt Maturity Average Yearly Debt Service USD 1,960 10-12 years 310 EUR 3,607 10-12 years 420 JPY 3,262 10-11 years 270 CHF 312 12 years 40 Total 9,141 1,080 36

TURKISH AIRLINES INVESTOR RELATIONS Thank You Tel: +90 (212) 463-6363 x-13630 e-mail: ir@thy.com 37

Balance Sheet Assets (mn USD) 2011 2012 2013 2014 2015 30.06.2016 Cash and Equivalents 934 1,028 647 722 962 1,108 Trade Receivables 405 434 538 456 361 562 Pre-delivery Payment (PDP) Receivables 376 267 521 990 1,139 819 Other Current Assets 426 437 419 663 684 771 Total Current Assets 2,140 2,166 2,125 2,831 3,146 3,260 Net Fixed Assets 5,873 7,121 8,043 9,201 11,415 13,390 of which Aircraft and Engines 5,319 6,392 7,030 8,167 10,177 11,980 Pre-delivery Payment (PDP) Receivables 217 655 993 650 392 211 Other Non-Current Assets 455 581 741 1,064 1,430 1,254 Total Non-Current Assets 6,545 8,357 9,777 10,915 13,237 14,855 Total Assets 8,685 10,523 11,902 13,746 16,383 18,115 Liabilities (mn USD) 2011 2012 2013 2014 2015 30.06.2016 Lease Obligations 4,189 4,862 5,413 5,931 7,399 9,497 Passenger Flight Liabilities 677 936 1,201 1,398 1,091 1,488 Accounts Payable 461 510 680 662 671 726 Other Liabilities 976 1,183 1,346 1,805 2,380 1,962 Total Liabilities 6,303 7,491 8,640 9,796 11,541 13,673 Total Shareholders Equity 2,382 3,032 3,262 3,950 4,842 4,442 of which Issued Capital 1,498 1,498 1,597 1,597 1,597 1,597 of which Retained Earnings 889 903 1,350 1,714 2,559 3,628 of which Differences from Currency Translation -18-10 -26-47 -84-80 of which Net Profit for the Period 11 657 357 845 1,069-647 Total Liabilities & Shareholders Equity 8,685 10,523 11,902 13,746 16,383 18,115 38

Income Statement (mn USD) 2011 2012 2013 2014 2015 1H'15 1H'16 YoY Change Operating Revenue 7,070 8,234 9,826 11,070 10,522 4,789 4,632-3% Operating Expenses (-) 6,855 7,616 9,249 10,429 9,840 4,739 5,118 8% of which Fuel 2,394 2,887 3,442 3,806 2,997 1,476 1,276-14% of which Personnel 1,339 1,376 1,581 1,694 1,640 820 973 19% of which Depreciation 486 574 650 743 924 425 556 31% of which Rent 252 243 448 543 234 234 258 10% Net Operating Profit / Loss 215 618 577 641 682 50-486 - Income From Other Operations 96 95 115 80 244 158 81-49% Expense From Other Operations (-) 237 61 41 45 31 16 6-63% Profit / Loss From Main Operations 73 652 651 676 895 192-411 - Income From Investment Activities (Net) - 271 76 72 101 34 36 6% Share of Investments' Profit / Loss 6 4 55 75 80 12-2 - Financial Income 158 49 27 419 532 443 75-83% Financial Expense (-) 150 191 307 196 201 109 517 374% Profit Before Tax 87 785 502 1,046 1,407 572-819 - Tax (-) 76 128 145 201 338 166-172 - Net Profit 11 657 357 845 1,069 406-647 - 39

Operational Expense Breakdown (mn USD) 1H'15 % in Total 1H'16 % in Total YoY Change Fuel 1,476 31.1% 1,276 24.9% -13.6% Personnel 820 17.3% 973 19.0% 18.7% Landing, Navigation & Air Traffic 433 9.1% 468 9.1% 8.1% Landing and navigation 195 4.1% 219 4.3% 12.3% Air Traffic Control 238 5.0% 249 4.9% 4.6% Sales & Marketing 436 9.2% 513 10.0% 17.7% Commissions and Incentives 175 3.7% 177 3.5% 1.1% Reservation System 119 2.5% 128 2.5% 7.6% Advertising 86 1.8% 138 2.7% 60.5% Other 56 1.2% 70 1.4% 25.0% Depreciation 425 9.0% 556 10.9% 30.8% Ground Handling 301 6.4% 322 6.3% 7.0% Aircraft Rent 234 4.9% 258 5.0% 10.3% Operational Lease 97 2.0% 116 2.3% 19.6% Wet Lease 137 2.9% 142 2.8% 3.6% Passenger Services & Catering 283 6.0% 292 5.7% 3.2% Maintenance 207 4.4% 309 6.0% 49.3% General Administration 44 0.9% 56 1.1% 27.3% Other 80 1.7% 95 1.9% 18.8% TOTAL 4,739 100% 5,118 100% 8.0% Operating Cost per ASK (USc) 6.64-6.26 - -5.7% Ex-fuel Operating Cost per ASK (Usc) 4.57-4.70-2.8% Fixed Costs 1,389 29.3% 1,684 32.9% 21.3% 40

Financial Ratios Net Debt / EBITDA EBITDA / Net Interest Cost 10.8x 10.7x 9.9x 12.4x 3.8x 2.7x 3.0x 2.7x 2.8x 6.2x 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Adjusted Net Debt (1) / EBITDAR EBITDAR / Adjusted Net Interest Cost (2) 4.8x 3.6x 3.9x 3.8x 3.8x 4.7x 7.4x 8.3x 7.8x 8.3x 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 (1) Adjusted for the capitalization of operating leases including 55% of wet lease (7x) (2) Adjusted by the portion of financial costs within operating leases (33%) 41

Cargo Transportation Cargo Tonnage Carried ( 000 Ton) 1H'16 1H'15 2015 2014 2013 2012 2011 389 348 720 663 565 471 388 0 200 400 600 800 Turkish Cargo serves 55 destinations with 11 freighters besides 290 destinations with 318 passenger aircraft. Turkish Cargo global market share in revenue has increased from 0.6% in 2009 to 1.8% in 2015. In 2015, while World FTK grew by 2.9%, Turkish Cargo FTK grew by 4.3% compared to previous year. New Cargo Terminal was opened at the end of 2014. The facility has 1.2 million tons of cargo capacity and 43,000 m 2 closed warehouse area. COMIS Project was completed and sales, accounting and operations modules were upgraded with the new generation icargo system in 3Q 15. Cargo Revenue Evolution (mn USD) 973 871 935 719 578 465 464 2011 2012 2013 2014 2015 1H'15 1H'16 Recent Awards Cargo Airline of the Year Award Air Transport News (2016) Overall Carrier of the Year, Combination Carrier of the Year Winner - Payload Asia (2014) Best European Cargo Airline Air Cargo News (2014) India Cargo Airline of the Year (2014) International Air Cargo Winner (2013) 42

Subsidiaries & Affiliates Turkish Airlines Group 1H'16 Revenue (mn USD) Net Profit (mn USD) % of Sales to Turkish Airlines Number of Personnel Paid in Capital (mn USD) Partnership Structure 1 Turkish Airlines 4,632-647 - 23,997* 1,597 %49 ÖİB - %51 Open to Public 2 Turkish Opet Aviation Fuels 611 15 86% 433 17 %50 THY - %50 Opet 3 THY Turkish Technic 510 43 85% 6,084 332 % 100 THY 4 Sun Express (Turkey & Germany Consolidated) 432-53 28% 3,862 37 %50 THY - %50 Lufthansa 5 THY Turkish Do&Co 191 18 88% 5,348 10 %50 THY - %50 Do&Co 6 Pratt Whitney THY Turkish Engine Center (TEC) 157 11 83% 296 41 %51 PW - %49 THY Teknik 7 Turkish Ground Services 134 10 96% 10,354 4 %50 THY - %50 Havaş 8 Turkish Cabin Interior Systems Industries, Inc. 3-1 100% 144 24 9 10 Goodrich Turkish Airlines Technical Service Center Aircraft Seat Manufacturing Industry & Trade, Inc. 5 1 60% 32 1 4-1 100% 65 5 %50 THY & THY Teknik - %50 TAI %60 TSA Rina - %40 THY Teknik %50 THY & THY Teknik - %50 Assan Hanil 11 THY Aydın Çıldır Airport Management, Inc. 1 1 100% 15 17 %100 THY 12 Turkbine Technical Gas Turbines Maintenance & Repair, Inc. - - - 10 6 13 Tax Free Zone, Inc. (Tax Refund) - - - 19 0.3 %50 THY Teknik - %50 Zorlu O&M %30 THY - %45 Maslak Oto - %25 VK Holding * THY A.O. Personnel 43

Subsidiaries & Affiliates Turkish Technic Owned 100% by THY. Provides maintenance services to more than 100 customers, including international airlines such as Lufthansa, KLM, BA and Alitalia as well as domestic airlines. Besides the facility at Ataturk Airport, a new world-class facility, HABOM, located at Sabiha Gökçen International Airport was launched by the end of June 14 with an investment of USD 550 million to increase technical maintenance and repair capacity and capability available to both Turkish Airlines and 3rd party customers. HABOM s location makes it a convenient MRO option for 39% of the world s civilian aircraft and has 55 countries lying within a 3.5 hour flying radius. HABOM facilities, when fully operational, will have 7,000 personnel and is expected to produce annual revenue of USD 1.5 billion. Turkish Airlines has a total MRO capacity to provide simultaneous maintenance, repair and overhaul services for 30 narrow body aircraft and 10 wide body aircraft in a closed area capacity of 576,000 m 2. On January 2015, HABOM was awarded LEED (Leadership in Energy and Environmental Design) Gold Certificate by U.S. Green Building Council for its sustainable building design. 44

Subsidiaries & Affiliates Turkish Seat Industries (TSI) Formed in 2011, stakes of 50%, 45%, and 5% are respectively held by Assan Hanil Group, Turkish Airlines and Turkish Technic. The company was set up to design and manufacture airline seats and to make, modify, market and sell spare parts to Turkish Airlines and other international airline companies. The seats are built using 100% Turkish products and Turkish production. The first aircraft equipped with the new seats is a Turkish Airlines B737-800. The seats will initially be used on the B737-800s of Turkish Airlines fleet and then be installed on the Airbus single-aisle fleet of A319s, A320s and A321s. The company, which commenced its operations in 2014, has an annual seat production capacity of 10 thousand. By 2024, it is planned to increase seat production capacity to 50 thousand. Goodrich THY Technic Service Center Provides repair, overhaul and modification services for Nacelle, Thrust Reverser and its components for Turkish Airlines and other customers from Turkish domestic and International markets. The company is located in Turkish Technic s HABOM facility. Turkish Engine Center Provides engine maintenance, repair and overhaul (MRO) services to customers located in Turkey, surrounding regions and worldwide. The environmentally efficient engine overhaul facility has total usage area of 100,000 m 2 located at the Sabiha Gokcen International Airport. 45

Subsidiaries & Affiliates Turkish OPET In terms of investment on jet fuel supply Turkish Airlines established a jet fuel supply company together with local oil retailer OPET on September 2009. The business activity of the established company is to supply jet fuel to any type of aircraft. Started supplying jet fuel to THY for all domestic airports as of July 1 st 2011. Turkish Do&Co Since 2007, operating nine gourmet kitchens all over Turkey: Istanbul (Atatürk and Sabiha Gökcen), Ankara, Antalya, Izmir, Bodrum, Trabzon, Dalaman and Adana. Over 60 national and international airlines are catered from these locations. Turkish Airlines won the Best Business Class Catering award at the 2013 Skytrax World Airline Awards and World's Best Economy Class Onboard Catering award at the 2010 Skytrax Awards with Turkish Do&Co. TGS Ground Services Owned 50% - 50% by THY and Havaş Havaalanları Yer Hizmetleri A.Ş. Provides ground services to Turkish Airlines since the beginning of 2010, currently at eight major airports in Turkey: Istanbul (Ataturk and Sabiha Gokcen), Izmir, Ankara, Antalya, Adana, Bodrum, Dalaman. 46

Subsidiaries & Affiliates SunExpress Turkey SunExpress Germany SunExpress Consolidated Date of Establishment 1989 2011 Business Model Charter + Scheduled Charter + Scheduled Charter + Scheduled 50% - 50% subsidiary company of Lufthansa and Turkish Airlines. Destinations Fleet 20 in Germany, 18 in Turkey, 19 other 25 B737-800 + 26 operated for THY 12 in Germany, 11 in Turkey, 3 in Egypt, 6 in Spain/Canary Islands and 8 other 15 Narrow Body + 4 Wide Body 69 70 Market leader in charter flights between Germany and Turkey. Seat Capacity 9,639 4,075 13,714 # of Passengers 2.7 million 0.7 million 3.4 million Load Factor (1H 16) 80.0 % 81.8 % 80.6 % Revenues (1H 16) 298 mn USD 136 mn USD 432 mn USD* 50 confirmed Boeing next generation narrow body aircraft order to be delivered between 2015 and 2021. 12 of those aircraft were delivered until now. Net Income (1H 16) - - -53 mn USD * Total revenue might be different than individual companies revenue sum due to consolidation. 47

Disclaimer Türk Hava Yolları A.O. (the Incorporation or Turkish Airlines ) has prepared this presentation for the sole purpose of providing information about its business, operations, operational and financial results. The information in this presentation is subject to updating, revision and amendment. This presentation is not, and does not support to be comprehensive and to contain all information related to Turkish Airlines. This presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Turkish Airlines nor any of its subsidiaries or their respective affiliates nor should it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision in relation thereto. This presentation is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution would be contrary to law or regulation. The information contained in this presentation has not been subject to any independent audit or review and may contain forward-looking statements, estimates and projections. Statements herein, other than statements of historical fact, regarding future events or prospects, are forward-looking statements. Although Turkish Airlines believes that the estimates and projections reflected in the forward-looking statements are reasonable, they may prove materially incorrect, and actual results may materially differ. As a result, you should not rely on these forward-looking statements. Turkish Airlines undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law. Any forward-looking statement in this presentation speaks only as of the date on which it is made, and Turkish Airlines undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except to the extent required by law. Industry, market and competitive data and certain industry forecasts used in this presentation were obtained from internal research, market research, publicly available information and industry publications and other market commentaries. Industry publications generally state that the information contained therein has been obtained from sources believed to be reliable at the relevant time, but that the accuracy and completeness of such information is not guaranteed. Similarly, internal research, market research, industry publications and other publicly available information, while believed to be reliable, have not been independently verified, and Turkish Airlines does not make any representation as to the completeness or accuracy of such information. No representation, warranty or undertaking, expressed or implied, is or will be made by Turkish Airlines or its shareholders, affiliates, advisors or representatives or any other person as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained in this presentation (or whether any information has been omitted from this presentation). Turkish Airlines, to the extent permitted by law, and each of its respective directors, officers, employees, affiliates, advisors or representatives disclaims all liability whatsoever (in negligence or otherwise) for any loss however arising, directly or indirectly, from any use of this presentation or its contents or otherwise arising in connection with this presentation. This presentation should not be construed as financial, legal, tax, accounting, investment or other advice or a recommendation with respect to any investment. Under no circumstances is this information and material to be construed as a prospectus, supplement, offering memorandum or advertisement, and neither any part of this presentation nor any information or statement contained herein shall form the basis of or be relied upon in connection with any contract, commitment or investment decision. By reading this presentation or attending or listening to any relevant meeting, conference call or webcast organized by the Company, you agree to be bound by the above provisions. 48