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A Perfect Show... TÜRK TELEKOM in BRIEF 14 Türk Telekom Group 16 Vision, Mission and Corporate Values 17 History 2014

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A Perfect Show... TÜRK TELEKOM in BRIEF 14 Türk Telekom Group 16 Vision, Mission and Corporate Values 17 History 2014 TÜRK TELEKOMÜNİKASYON A.Ş. ANNUAL REPORT 2014 A perfect show... TÜRK TELEKOM IN BRIEF 14 Türk Telekom Group 16 Vision, Mission and Corporate Values 17 History 2014 2014 AT A GLANCE 20 Highlights 24 Key Performance Indicators 30 Operational Indicators 36 Awards MANAGEMENT 38 Message from the Chairman 40 Assessment of the Board of Directors 44 The Board of Directors of Türk Telekom 48 The Board of Directors and Committees 49 Statutory Audit Board 50 Message from Türk Telekom CEO 54 Türk Telekom Management 60 CEOs OF Türk Telekom Group Companies 62 Organizational Structure and changes 64 Capital Structure and Changes ACTIVITIES IN 2014 65 Sector Outlook 70 Türk Telekom Group Operations 78 Türk Telekom Group Companies 78 AVEA 94 TTNET 106 AssisTT 108 Turk Telekom International 110 Innova 112 Argela 114 Sebit 116 Türk Telekom Investments and Infrastructure Projects 120 R&D and Innovation Activities 122 Türk Telekom Human Resources 126 Investor Relations 128 Corporate Social Responsibility 130 Sustainability Initiatives CORPORATE GOVERNANCE 135 Important Developments after the Accounting Period 136 Dividend Distribution Proposal 138 Conclusion of Affiliation Report 139 Corporate Governance Principles Compliance Report 160 Statement of Independence FINANCIAL INFORMATION 164 Statement of Responsibility 167 Independent Audıtors’ Report Related to Annual Report 169 Independent Auditors’ Report and Consolidated Financial Statements 278 Glossary As Türk Telekom, Turkey’s leading communication and convergence technologies group, we showed a strong performance in 2014, as well. We added new achievements to our existing ones. We jumped higher, looked further. We had millions of new customers that met with our innovative products and services. We continued to create value for both Turkey and our shareholders. This perfect performance is achieved with the strong synergy and team spirit created by our brands. Dance is special... It’s between you and music. It’s about showing your own style and performance even though there are others on the stage. CONSOLIDATED REVENUE TL 13.6 BILLION CONSOLIDATED EBITDA TL 5 BILLION CONSOLIDATED NET PROFIT TL 2 BILLION SIGNIFICANT STEPS Türk Telekom put a special changes in order to make the TOWARDS INTERGATION performance in order to maintain Group comply with the faster its sustainable success in 2014 as integration and to gain more well. There were organizational efficiency. Dance is interpretation of music... For an interpretation that creates difference, you have to do your work with passion, use your body like an instrument. TÜRK TELEKOM GROUP NUMBER OF EMPLOYEES 34,389 A STRONG TEAM RUNNING Providing the same quality Providing employment in 81 TOWARDS THE SAME TARGET service to millions of people cities of Turkey, Türk Telekom needs a big organization. Türk with its approximately 35 A BIG AND SINGLE FAMILY Telekom is proud of achieving thousand employees, is among this big and difficult task with the companies that provide its tens of thousands of efficient highest level of employment in and devoted employees. Turkey. In the last 5 years, Türk Telekom provided approximately All our employees successfully 9 thousand people with new job interpret their job descriptions opportunity. Türk Telekom takes and put on a collective stage attention as a corporation where show. We act together with all more than 81 thousand people our employees to reach our make application for the job. This goals. number shows that Türk Telekom is among the companies most preferred to be worked with. Dance is interpretation of music... Dance means harmony... You and your team have to look as if you’re moving in a single body on the stage. SINGLE STRUCTURE Continuing to take important data and capacity provider Türk INCORPORATING steps in its journey of growth Telekom International AT AG and STRONG BRANDS with the brands under its its subsidiaries, Türk Telekom structure, Türk Telekom gets also owns 89.99% of the share TÜRK TELEKOM stronger every day with the of AVEA, one of the three GSM brands that complement each operators in Turkey. AVEA other and life in different fields. TTNET Becoming a faster, stronger Owning 100% of the broadband and more agile operator, Türk operator TTNET, convergence Telekom always focuses on technologies company Argela, customer satisfaction while IT solution provider Innova, it continues to determine the e-education technologies standards in the sector as an company Sebit, call center innovation leader in Turkey. company AssisTT, wholesale NUMBER OF FIXED NUMBER OF MOBILE BROADBAND SUBSCRIBERS SUBSCRIBERS 16.3 MILLION 7.6 MILLION NUMBER OF TOTAL ACCESS LINES 13.2 MILLION Dance is interaction... Dance is giving a strong reflex to music. Each rhythm, every note, must be visible in you and your partner. NUMBER OF TIVIBU SUBSCRIBERS 1,000 MBPS 1.9 MILLION SPEED WITH TTNET TURKEY’S FIRST IPTV Internet usage increases With its e-book and e-music PLATFORM: in Turkey day by day. services, TTNET offers different TİVİBU Differentiating its services in line channels to its users for reaching with the changing needs, Türk the pieces they desire. With A MARKET LEADER OPERATOR Telekom, provides the internet innovation, it brings a new world with new, entertaining and breath to the world of culture IN THE SMARTPHONE satisfying services. and entertainment. PENETRATION: AVEA Türk Telekom continues to make content and infrastructure TTNET WITH ITS VALUE investments for Tivibu service ADDED SERVICES : that is the first IPTV platform TTNET of Turkey. Tivibu, carries the pleasure of watching TV to TTNET MUSIC different points with its new contents and applications. TTNET BOOK Dance means renewal... It’s about adding a new taste to life in spite of putting the same show on stage over and over. CHAMPIONS LEAGUE ON TİVİBU Together with its group companies Türk Telekom keeps INTERNET close track of all technological ON SEA, developments in the world. SKY AND Focusing on creating value, Türk LAND Telekom carries the internet from the sea and land to the sky. Converting the home phones WIROPHONE to smart phones, Türk Telekom continues to carry Turkey into the future with numerous innovations like tekno kumbara, wirophone etc. SMART HOME PHONE TEKNO KUMBARA Dance means rising... As everybody is watching you, you rise more, and as you rise 1.8 MILLION NET MOBILE SUBSCRIBER you see further and aim for better. GAIN, OUT OF WHICH 1.3 MILLION IS POSTPAID 273 THOUSAND NET SUBSCRIBER GAIN IN BROADBAND CONSOLIDATED INVESTMENT TL 2.15 BILLION FIXED VOICE ARPU Türk Telekom Group completed 2014 with solid operational and TL 21.2 financial results and significant organizational changes. While mobile and broadband customer base continued to expand operationally, the revenue loss in FIXED VOICE fixed voice was decreased. MOU MOBILE In mobile, by acquiring 1,8 million 93 MIN BLENDED ARPU net new subscribers, the total number of mobile subscribers TL 22.0 reached 16,3 million. Due to the fact that 1.3 million of 1.8 million net gain was from postpaid customers, the ratio of the postpaid subscribers reached 48% representing the highest BROADBAND level in the sector. ARPU TL 41.0 14 TÜRK TELEKOM GROUP COMPANIES 13.2 MILLION 16.3 MILLION 6.4 MILLION 40,000+ KM Total Access Line Subscribers Subscribers fiber network abroad Approximately TL 4.3 BILLION 729 THOUSAND TL 25.4 BILLION Sales revenue Fiber subscribers Market Capitalisation TL 696 MILLION 1.9 MILLION Approximately EBITDA TV subscribers TL 2 BILLION Net Profit Year of Establishment Year of Establishment Year of Establishment Year of Establishment 1994 2004 2006 2010 Core Business Core Business Core Business Core Business TELECOMMUNICATIONS MOBILE INTERNET SERVICE WHOLESALE VOICE, COMMUNICATIONS PROVIDER DATA & INFRASTRUCTURE CARRIER Türk Telekom Türk Telekom Türk Telekom Türk Telekom Shareholding Shareholding Shareholding Shareholding -- 89,99% 100% 100% Number of Employees Number of Employees Number of Employees Number of Employees 21,396 2,123 702 318 Web Site Web Site Web Site Web Site turktelekom.com.tr avea.com.tr ttnet.com.tr turktelekomint.com TÜRK TELEKOM IN BRIEF 2014 AT A GLANCE MANAGEMENT ACTIVITIES IN 2014 CORPORATE GOVERNANCE FINANCIAL INFORMATION 15 One of the 50 8,497 employeesin Wide customer profile E-education solutions fastest growing IT 19 cities located from Turkic provider with 26 solutions providers Republics to Africa, years’ experience 6,000+ seating from Middle East & serving in Turkey and Exports to 31 capacity Balkans to America international arena countries on THREE continents Over 130 MILLION A top FIVE company calls in 2014 in the “Best Content Services in the World” category Year of Establishment Year of Establishment Year of Establishment Year of Establishment 1999 2007 2004 1988 Core Business Core Business Core Business Core Business INFORMATION CUSTOMER SERVICES ONLINE EDUCATIONAL TELECOMMUNICATIONS SOLUTIONS & & CALL CENTER CONTENT DEVELOPER & SOLUTIONS TECHNOLOGY SERVICES PROVIDER Türk Telekom Türk Telekom Türk Telekom Türk Telekom Shareholding Shareholding Shareholding Shareholding 100% 100% 100% 100% Number of Employees Number of Employees Number of Employees Number of Employees 913 8,497 186 254 Web Site Web Site Web Site Web Site innova.com.tr assistt.com.tr argela.com.tr sebit.com.tr vitaminegitim.com adaptivecurriculum.com 16 VISION, MISSION AND CORPORATE VALUES Türk Telekom aims to provide fast, high-quality and affordable services to its customers anywhere and anytime, along with customer-focused integrated communication solutions. VISION MISSION To be the preferred To provide fast, high-quality communication operator and affordable services to of the future our customers anywhere and anytime by offering customer-focused integrated communication solutions. OUR CORPORATE VALUES OUR STRENGTHS > Customer-focused Solidarity and team spirit > Trustworthy > Innovative > Responsible and dedicated TÜRK TELEKOM IN BRIEF 2014 AT A GLANCE MANAGEMENT ACTIVITIES IN 2014 CORPORATE GOVERNANCE FINANCIAL INFORMATION 17 HISTORY International credit rating agency Standard & Poor’s (S&P) upgraded the corporate credit rating of Türk Telekom from BB+ to BBB- (investment grade).
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