Investor Relations Presentation (Q4 2012 Results)

Investor Relations Presentation - Q4 2012 | 1 Agenda

Doğuş Group

Doğuş Otomotiv

Macroeconomic Outlook

Automotive Market

Financial Performance

New Projects

Corporate Governance

Investor Relations Presentation - Q4 2012 | 1 Doğuş Group Structure

Banking & Financial Automotive Construction Media Tourism & Services Real Estate Energy Entertainment Services

Corporate Responsibility

Investor Relations Presentation - Q4 2012 | 2 Doğuş Otomotiv Doğuş Otomotiv aims at having a productive and profitable presence in every stage of the automotive value chain.

Investor Relations Presentation - Q4 2012 | 3 Doğuş Otomotiv / Value Chain 2012

Presence in Every Link of Automotive Value Chain

Core Business Automotive Related Ancillary Business

Import and Replacement Parts Retail Used Vehicle Sales Production Finance Other Investments Distribution and After Sales Services

Spare Parts&Logistics

Quick Fix to all Brands Krone Automotive Financing

DOD TÜVTURK

Doğuş Otomotiv Used Vehicle Sales Independent Authorized Insurance Dealers Meiller*

LeasePlan

Yüce Auto

Insurance

*Subsidiaries **Representative Offices

Investor Relations Presentation - Q4 2012 | 4 Widest Retail & Services Network in Turkey

More than 500 customer points, widest among the competitors

(*) DOAS brands, including VW, Audi, Porsche, Scania, Seat, Krone, VW Audi VW Krone Scania Porsche Marine, Scania Marine, Skoda as of December 2011 Seat Meiller Thermo King

Investor Relations Presentation - Q4 2012 | 5 Success Story of DOAS Car park more Market Share than 900K units 12.6%

2011 2009 After Doğuş Otomotiv became the sole importer and distributor of VW 2010 brand vehicles in Turkey, VW brands’ market share increased from 0.5% Market Share 2007 2008 in 1993 to 12.6% in 2011 11.4% Consumer finance JV • Krone distributorship • Porsche with Financial agreement • Scania distributorship Services AG • Assembling Operations distributorship agreement • Merger of automotive • Skoda distributorship agreement • Customs duties on companies under Doğuş agreement and 2006 • Volkswagen and vehicles imported Otomotiv partnership with Yüce Audi distributorship from the EU Auto agreement abolished • Distributorship • Used car operations • Thermo King established distributorship agreement with Scania Industrial Volkswagen AG 2003 agreement and Marine 2004 • Krone Doğuş • Global Compact Engines SEAT distributorship Trailer Plant Agreement distributorship agreement and groundbreaking • Publishing agreement partnership with Yüce ceremony Sustainability Report signed Auto 1999 • Groundbreaking 2000 ceremony of Porsche dealership in Lausanne 1997 • Opening Meiller Doğu Tipper Plant Corporate 1995 • TÜVTURK established by the Governance 1996 • Establishing cooperation of AKFEN and TÜV SÜD Porsche Lausanne Rating (7.80 1993 1994 • Porsche dealership contract in Point) • Doğuş Otomotiv acquired D-Auto Suisse SA Lausanne 100% of SEAT • Lamborghini distributorship agreement • Initial Public Offering • Bentley letter of intent • Opening of OtoMotion of Doğuş Otomotiv • Volkswagen Marine Engines • Doğuş Otomotiv 15th • Oto-Fix Exspres Service established • Doğuş Otomotiv CSR agreement anniversary Market Share • Meiller distributorship and project: • Production agreement with • Opening of Porsche coproduction agreement “traffic is life” Krone Lausanne Market Share 5.8% • Krone - Doğuş coproduction agreement • Bugatti letter of intent 0.5% • LeasePlan partnership for fleet services

Investor Relations Presentation - Q4 2012 | 6 Key Strengths of DOAS

Leader in import market in Turkey with 16% m/s among c. 30 pure importers widest network One-stop shopping concept showroom, after sales services, consumer financing, insurance > 500 Widespread network and customer base, widest network with c. 500 customer points customer points Advanced financial risk management systems daily monitoring of the FX position Well-positioned multi-brand products 14 different brands youngest fleet Youngest fleet in the market with new launches every year, has more than 75 models

Profit oriented growth strategy profitability always kept without losing market share > 80 models Creating its own brands DOD, Oto-fix, DOD City, DOD Prime

Well-equipped IT infrastructure multi-brand products Customer focus, close relations with customers result in loyalty to the brands 14 different brands

Investor Relations Presentation - Q4 2012 | 7 DOAS’ Position in the Market - 2011

Volkswagen sold 66,792 units in 2012 2011 sales. (The only brand in top 5 best-selling Volkswagen has highest market share ever(12,0%) brands that increased retail sales) with 28% improvement due to year 2011 Passat, Passat Variant and Scirocco retain 1st Volkswagen highest volume for both retail and position in their segments PV wholesales Golf got 2nd position in its segment VW PV’s ranked 2nd in the market SEAT Alhambra model has achieved the first rank in 20% increase in 2012 retail sales as compared with Turkey with 23 untis sold in B-MPV segment.

Leader in the import market VW LCV ranked 3rd in the commercial vehicles market LCV Transporter is the best selling combi in its segment Amarok is the best selling pickup in its segment

SCANIA has reached 1,701 units sales volume. KRONE increased its market share by 2% compared to the previous year with 674 units sales, continued its HCV leadership in export refrigerated trailer market. MEILLER sold 382 units, won the ‘Best Tipper of the Year 2012’ award for the 8th time.

18 Bentley and 3 Lamborghini sold in 2012 Porsches sold 497 units in 2012 -highest volume for both retail and wholesales Luxury Audi sold 13,720 units in 2012 (Highest sales ever). Audi has highest market share ever (2.47). Segment In the premium segment, Audi is A segment leader with A3 / A3 Sportback, A – SUV segment leader with Q3 and B – SUV segment leader with Q5.

Investor Relations Presentation - Q4 2012 | 8 2013 Model Launches

Beetle A3 Sportback Cayenne S Diesel Flying Spur Aventador New SEAT Leon Rapid New Engine Scirocco GTS RS 5 Cabriolet Yeni Cayman & Roadster New SEAT Toledo New Octavia option 13 liter RS 6 Avant Cayman S Superb facelift S3 Panamera Rapid Spaceback S3 Sportback Facelift RS 7 911 GT3 A3 Sedan 911 Turbo & A8 PI 911 Turbo S

Investor Relations Presentation - Q4 2012 | 9 Macroeconomic Outlook

Investor Relations Presentation - Q4 2012 | 10 Macroeconomic Indicators

YoY Inflation (%) Annual CPI Annual PPI Nominal Exchange Rates USD/TRY EUR/TRY Basket (0.5USD+0.5EUR)

20.00 18.41% 2.50 2.30 15.00 2.10 2.36 6.16% 10.00 1.90 2.08 1.70 1.79 5.00 1.50 2.45% 1.30 0.00 1.10

-5.00 01-08 04-08 07-08 10-08 01-09 04-09 07-09 10-09 01-10 04-10 07-10 10-10 01-11 04-11 07-11 10-11 01-12 04-12 07-12 10-12 01-13 06-07 08-07 10-07 12-07 02-08 04-08 06-08 08-08 10-08 12-08 02-09 04-09 06-09 08-09 10-09 12-09 02-10 04-10 06-10 08-10 10-10 12-10 02-11 04-11 06-11 08-11 11-11 12-11 02-12 04-12 06-12 08-12 10-12 12-12

Auto Loan Rates (%) TL EURO USD Consumer Confidence Index Consumer Confidence Index Retail Sales Total LV 4.33%

2.70 105.0 160,000 100.0 140,000 2.20 95.0 120,000 90.0 1.70 100,000 85.0 1.02% 80,000 80.0 1.20 60,000 75.0 0.55% 40,000 0.70 70.0 65.0 20,000 0.20 60.0 0 01-07 05-07 09-07 01-08 04-08 08-08 12-08 04-09 08-09 11-09 03-10 07-10 11-10 03-11 06-11 10-11 02-12 06-12 09-12 01-13 09-12 03-03 08-03 02-04 08-04 01-05 07-05 01-06 07-06 12-06 06-07 12-07 06-08 11-08 05-09 11-09 05-10 10-10 04-11 10-11 04-12

Investor Relations Presentation - Q4 2012 | 11 Population & Demography

Population Statistics Age Demography Over 7% GDP, young population and fiscal 87,364 reforms push the country towards stable 9% Above 60 13% and sustainable growth 83,873 29% 35-59 34% Population is increasing on an average of 1.5% 79,966 each year.

35% 15-34 30% 64% of population will between the age group 75,705 15 to 59 years.

26% 0-14 22% Share of people in the age group between 35 to 2010 2015 2020 2025 2010 2025 59 will increase by 5%.

Economy Auto Industry Trade Balance (USD bn) Current fiscal reforms to push the country Real GDP GDP YoY Growth Trade Deficit Export Import to have the stable and sustainable economic 160.0 12.0 growth. 25.00 7.00 10.0 140.0 6.00 8.0 120.0 20.00 5.00 6.0 4.00 100.0 4.0 15.00 3.00 80.0 2.0 2.00 0.0 10.00 1.00 60.0 0.00 -2.0 Change (%) GDP YoY GDP - (Billion Turkish Lira) GDP - (Billion Turkish 40.0 5.00 -1.00 -4.0 -2.00 20.0 -6.0 0.00 -3.00 0.0 -8.0 Note: All figures are rounded; the base years is 2009. 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 Source: IMF, TurkStat, Frost Sullivan 01/03 01/04 01/05 01/07 01/08 01/09 01/10 01/11 01/12 01/13

Investor Relations Presentation - Q4 2012 | 12 Automotive Market

Investor Relations Presentation - Q4 2012 | 13 World car markets and deliveries to customers (1) January to December 2012 vs. 2011 World Car Market: 7.2% VW Group: 11.2%

Car Market VW Group

North America(3) Western Europe Central & Eastern Europe South America Rest of the World Asia Pacific

26.2%

23.2% 23.3%

17.6%

13.3% 12.4%

8.2% 5.9% 6.0% 4.6%

-3.4% (1) Figures incl. Porsche (since 08/12_; excl. Scania and MAN

-8.2%

Investor Relations Presentation - Q4 2012 | 14 Turkish Automotive Industry

Production vs Sales GDP vs Auto Sales Sales Production Change in Auto Sales Change in GDP

1,200 150% 12% 10% 1,000 100% 8% 800 6% 50% 4% 600 2% 0% 0% 400 -2% -50% -4% 200 -6% 0 -100% -8% 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Auto Industry Segmentation Vehicle Ownership PC LCV Total Car Parc / 100 Household Parc Density / 1000 Inhabitants

99% 559 539 546

70% 62% 361

41% 33% 142 131 148 92 113 61 1%

Import Diesel A/T Turkey Bulgaria UK Germany Greece

Investor Relations Presentation - Q4 2012 | 15 DOAS Wholesales Performance

WHOLESALES (unit) 1M 2013 1M 2012 Change 2012 2011 2010 2009 2008

VW 5,618 4,636 21% 92,900 82,989 63,871 37,353 40,280 VW PV 4,312 3,319 30% 66,993 55,764 39,974 26,752 21,136 VW LCV 1,306 1,317 -1% 25,907 27,225 23,897 10,601 19,144 AUDI 256 389 -34% 14,514 12,121 9,753 6,251 5,484 PORSCHE 25 21 19% 510 466 390 247 154 BENTLEY - 2 -100% 18 11 14 8 12 LAMBORGHINI - - 3 6 4 9 9 SEAT 340 200 70% 5,730 6,115 5,149 2,568 2,938 SKODA 215 267 -19% 10,404 7,571 6,518 3,403 3,662 PC TOTAL 5,148 4,198 23% 98,172 82,054 61,802 39,238 33,395 LCV TOTAL 1,306 1,317 -1% 25,907 27,225 23,897 10,601 19,144 LV TOTAL 6,454 5,515 17% 124,079 109,279 85,699 49,839 52,539 SCANIA 48 162 -70% 1,701 2,928 2,500 800 1,894 KRONE 46 34 35% 674 817 556 208 518 MEILLER 5 31 -84% 382 532 445 134 184 GRAND TOTAL 6,553 5,742 14% 126,836 113,556 89,200 50,981 55,135 MARKET SIZE* PV 24,239 22,023 10% 556,584 598,706 520,653 369,819 305,998 LCV 9,746 10,995 -11% 222,434 271,812 253,685 187,307 188,025 HCV* 1,052 1,281 -18% 30,525 35,354 25,542 11,777 20,227 TOTAL 35,037 34,299 2% 809,543 905,872 799,880 568,903 514,250 DOAS Market Share PV 21.2% 19.1% 17.6% 13.7% 11.9% 10.6% 10.9% LCV 13.4% 12.0% 11.6% 10.0% 9.4% 5.7% 10.2% HCV 4.6% 12.6% 5.6% 8.3% 9.8% 6.8% 9.4% TOTAL 18.7% 16.7% 15.7% 12.5% 11.2% 9.0% 10.7%

Investor Relations Presentation - Q4 2012 | 16 Market Review - Wholesale

MARKET DOAS

Dec 2011 Dec 2012 Change Dec 2011 Dec 2012 Change

-11% 12%

-7% 20% 905,872 125,808

809,357 112,235

598,706 98,186 -18 % 82,074 556,584 -5%

19% 5% -14 % -42%

271,812 222,434 27,232 25,921 15,054 12,601 49,037 51,433 35,354 30,339 2,929 1,701

Total Market PC Premium LCV HCV DOAS Total PC Premium LCV HCV

Investor Relations Presentation - Q4 2012 | 17 Market Share - Retail

2011 YEAR 2012 YEAR 12/13 JAN 2012/2013 PC TOP 5 JANUARY 13 RETAIL MARKET JAN 12 JAN 13 END END CHANGE CHANGE 19.5% PASSENGER VEHICLE % 17.1% DOGUS OTOMOTİV 13.8 17.4 16.7 21.2 3.8 4.5 RENAULT 18.9 18.1 23.6 21.2 3.1 -2.4 8.9% 8.7% 8.2% TOFAS 9.9 8.2 6.3 7.7 -0.5 1.4 HYUNDAI 7.8 7.8 8.7 7.3 -0.5 -1.4 OPEL 8.9 8.8 5.3 7.0 -1.8 1.7 FORD 9.9 8.5 7.1 6.3 -2.2 -0.8 RENAULT DOAS TOFAŞ HYUNDAI OPEL PEUGEOT 2.6 2.6 2.1 4.2 1.6 2.1 TOYOTA 6.2 5.7 4.4 2.6 -3.1 -1.8 OTHER 22.0 22.9 25.8 22.5 -0.4 -3.3 LCV TOP 5 JANUARY 13 LIGHT COMMERCIAL VEHICLE % FORD 27.5 26.7 25.6 32.6 5.9 7.0 25.5% 24.7% TOFAŞ 26.2 26.2 20.2 26.9 0.7 6.7 DOGUS OTOMOTİV 9.7 11.8 12.3 11.4 -0.4 -0.9 12.8% RENAULT 10.6 7.4 10.9 7.6 0.2 -3.3 8.9% PEUGEOT 7.2 6.8 7.1 2.7 -4.1 -4.4 7.2% HYUNDAI 0.9 1.1 1.0 1.8 0.7 0.8 TOYOTA 0.5 1.2 0.7 1.0 -0.2 0.3 OPEL 0.7 0.3 0.3 0.1 -0.2 -0.2 FORD TOFAŞ DOAS RENAULT PEUGEOT OTHER 16.7 18.5 21.9 15.9 -2.6 -6.0 PC+LCV % LV TOP 5 JANUARY 13 DOGUS OTOMOTİV 12.6 15.8 15.5 18.5 2.7 3.0 RENAULT 16.3 15.2 19.9 17.4 2.2 -2.5 16.5% 15.9% FORD 15.4 13.7 12.4 13.5 -0.2 1.1 13.6% 13.2% TOFAŞ 15.0 13.3 10.3 12.9 -0.4 2.6 HYUNDAI 5.7 5.9 6.5 5.8 -0.1 -0.7 6.0% OPEL 6.3 6.4 3.9 5.1 -1.3 1.2 PEUGEOT 4.0 3.8 3.6 3.8 0.0 0.2 TOYOTA 4.4 4.4 3.3 2.1 -2.3 -1.2 OTHER 20.3 21.5 24.6 20.9 -0.6 -3.7 RENAULT DOAS FORD TOFAŞ OPEL

Investor Relations Presentation - Q4 2012 | 18 Financial Performance

Investor Relations Presentation - Q4 2012 | 19 Consolidated Income Statement

(TL mn, CMB) 31 December 12 31 December 11 (% Change)

Revenue 5,132 4,808 7% Gross Profit 713 597 20% Operational Expenses -398 -357 12% Selling and Marketing Expenses -177 -150 18% General Administrative Expenses -179 -154 16% Warranty Expenses, net -57 -39 43% Other Operating Expenses, net 14 -13 211% EBITDA 339 260 30% EBIT 315 240 31%

Margins 31 December 12 31 December 11 (% Change)

Gross Margin 13.9% 12.4% 12% Opex/Sales 7.8% 7.4% 5% EBITDA Margin 6.6% 5.4% 22% EBIT Margin 6.1% 5.0% 23% Net Profit Margin 5.0% 3.0% 69%

Investor Relations Presentation - Q4 2012 | 20 Consolidated Income Statement

31 December Vertical 31 December Vertical Change Selling, marketing and distribution expenses (TL '000) 2012 Analysis 2011 Analysis (%) 12/11 • Increase in personnel wages • Increase in rental expenses (new showrooms) Revenue 5,132,341 4,808,253 7% Direct cost of revenue (-) -4,418,927 -86% -4,211,309 -88% 5% Gross profit 713,414 14% 596,944 12% 20% Selling, marketing and distribution expenses -177,115 -3% -150,321 -3% 18% SG&A Expenses -178,877 -3% -154,095 -3% 16% Warranty expenses -56,600 -1% -39,498 -1% 43% Other operating incomes/losses, net 14,175 0% -12,728 0% -211% Results from operating activities 314,997 6% 240,302 5% 31% Financial incomes/costs, net -64,568 -62,771 3% Income Loss from Associates 57,144 2,480 2204% Profit before income tax 307,573 6% 180,011 4% 71% Tax expense -51,130 -37,780 35% Profit for the year 256,443 5% 142,231 3% 80%

31.12.2012 31.12.2011 Income/Loss from Associates Cumulative Cumulative

LPD Holding 23,009 -2,395 VDTF 14,054 7,28 TÜVTURK Noth 9,212 3,337 TÜVTURK South 7,568 4,813 Yüce Auto 1,348 1,095 TÜVTURK İstanbul 1,98 -6,953 Other 64 -4,697 Grand Total 57,144 2,480

Investor Relations Presentation - Q4 2012 | 21 Joint Ventures

Contribution of Associates (TL mn) 31 December 12 31 December 11

Share of profit of equity accounted investees 53.75 0.43 VDF 14.1 7.3 Doğuş Sigorta 0.7 0.7 SKODA (Yüce Oto) 1.3 1.1 Leaseplan 23.0 -2.4 TÜVTURK Group 18.7 1.2 Meiller-Doğuş -2.8 -7.3 Krone-Doğuş -1.6 -0.2 Doğuş Technology 0.4 0.0

31 December 11 31 December 12 VDF Doğuş Sigorta Yüce Oto (SKODA) LeasePlan TÜVTURK Group Meiller-Doğuş Krone-Doğuş Doğuş Technology 23.0 18.7

14.1

5.7

0.7 0.7 1.1 1.3 1.2 0.0 0.4 -0.2 -1.6 -2.4 -2.8 -7.3

Investor Relations Presentation - Q4 2012 | 22 Financing Costs

(TL mn, CMB) 31 December 12 31 December 11 (% Change)

Financing costs -64.57 -62.77 3% Finance expenses, net -60.91 -48.10 27% Interest Income 0.15 0.78 -81% Dividend Income 5.45 3.16 72% Interest charge on credit purchases -5.67 -7.54 -25% Interest expense on borrowings -50.72 -34.87 45% Commission expenses on letters of guarantee -6.57 -6.56 0% Other financial expenses -3.55 -3.08 15% Foreign exchange gain/loss, net -3.65 -14.67 -75%

CMB: Capital Market Boards of Turkey

Investor Relations Presentation - Q4 2012 | 23 Consolidated Balance Sheet

(TL ’000) 31 December 12 31 December 11 Inventories • Increase in goods in transit (vehicle) ASSETS 2,222,852 1,905,092 Cash and cash equivalents 37,225 47,829 • December 31, 2012: TL 219,308 thousand Trade receivables 433,089 349,213 Inventories 483,841 549,234 • December 31, 2011: TL 348,612 thousand Tangible and intangible non-current assets 443,951 377,135 • Main reason of contraction is the 24% increase Financial Investments 531,045 375,181 in unit sales Investments in equity accounted investees 218,896 143,078 Other 74,805 63,422 • Change in product mix

LIABILITIES 1,035,959 1,032,619 Financial liabilities 591,762 591,029 Financial Investments Trade payables 325,632 349,028 Provisions 37,880 30,788 Increase in stock prices of Garanti Bank and Doğuş Other 80,685 61,774 Otomotiv

EQUITY 1,186,893 872,473

Investments in equity accounted investees 31.12.2012 31.12.2011

Associates VDF 44,427 30,373 Doğuş Sigorta 32,433 23,573 Yüce Auto (SKODA) 8,541 8,193 VDF Servis 8,695 5,297 LPD Holding- LeasePlan 25,835 2,798 Doğuş Bilgi İşlem 915 23

Joint Ventures Krone-Doğuş 31,922 29,869 TÜVTURK North 27,056 17,661 TÜVTURK South 24,744 16,791 TÜVTURK İstanbul 11,158 8,500 Meiller-Doğuş 3,170 - Total 218,896 143,078

Investor Relations Presentation - Q4 2012 | 24 Consolidated Balance Sheet

(Balance Sheet mn,TL) 31 December 12 31 December 11 (% Change)

Total Assets 2,223 1,905 17% Total Equity 1,187 872 36% Net working capital 140 124 13% Net debt position -564 -550 3% CAPEX 108 133 -19% Receivable Turnover (day) 31 27 14% Inventory Turnover (day) 40 48 -17% Payable Turnover (day) 26 30 -12% ROA 11.5% 7.5% -7% ROE 21.6% 16.3% -3%

Investor Relations Presentation - Q4 2012 | 25 Stock Price History

1.20 IMKB 100 Relative DOAS TL 10.00

9.00 1.00 8.00

7.00 0.80 6.00

0.60 5.00

4.00 0.40 3.00

2.00 0.20 1.00

0.00 0.00 06-04 12-04 06-05 12-05 06-06 12-06 06-07 12-07 06-08 12-08 06-09 12-09 06-10 12-10 06-11 12-11 06-12 12-12

Shareholders Structure % Share Amount (TL)

DOĞUŞ HOLDİNG A.Ş. 35.21% 77,461,218 DOĞUŞ ARAŞTIRMA GEL. VE MÜŞ. HİZM.A.Ş. 30.29% 66,638,086 OTHER DOĞUŞ GROUP COMPANIES 0.00% 696 PUBLICLY TRADED 34.50% 75,900,000 TOTAL 100.00% 220,000,000

Investor Relations Presentation - Q4 2012 | 26 2013 Expectations

Total Market > 835 K

DOAS Sales > 117-128 K

DOAS Market Share 13,5-14,5%

DOD Used Car Sales 20 K

DOAS Revenue TL 5.2 - 5.4 billion

Doğuş Otomotiv 2013 solo financial expectations

Investor Relations Presentation - Q4 2012 | 27 New Projects

Investor Relations Presentation - Q4 2012 | 28 Trailer Production with Krone

In 2003, Doğuş Otomotiv has become the main exclusive importer and distributor of estimated capex Krone trailers in Turkey. Doğuş Otomotiv and Krone reached a new US$20 mn agreement in 2007 and formed a JV company for 49% share to produce trailers in Turkey. In the newly established JV company Doğuş Otomotiv holds 49% stake, while the remaining 51% is owned by Krone. Estimated capex is US$20 mn for 49% share. leader in Turkey Production plant will become operational in 2012 with an initial capacity of 5,000 units 45% which is planned to be increased to 10,000 market share after the 1st year. 90% of production will be diverted to exports. Krone is the leader of the import trailer market in Turkey with 45% market share (12% in total trailer market, ranked 4th). new plant’s capacity 10,000 units

Investor Relations Presentation - Q4 2012 | 29 Tipper Production with Meiller

Doğuş Otomotiv has become the main exclusive importer and distributor of Meiller capacity brand in Turkey in February 2007. As per the Letter of Intent (LoI) signed in 3,000 October 2007, Doğuş Otomotiv and Meiller units/year formed a joint venture (JV) company. The JV is manufacturing Meiller brand tippers and semi-trailer tippers in Turkey. In the newly established JV company Doğuş Otomotiv holds 49% stake, while the share in total sales will be remaining 51% is owned by Meiller. The plant has become operational in 1Q08, 80% with 3,000 units annual production capacity. exports Almost 80% of the production is diverted to exports. Doğuş Otomotiv and Meiller have invested a total EUR 10 mn for the plant. investment EUR 10 mn for the plant

Investor Relations Presentation - Q4 2012 | 30 Porsche Sales in Lausanne

In 2007, Doğuş Otomotiv was granted by Porsche AG for the marketing, sales and after- 2012 full year sales retail operations of Porsche brand in Lausanne, Switzerland. 184 In Switzerland; an important market for vehicles sold Porsche, 1,924 units of Porsche cars sold in 2008 vs 157 in Turkey. Switzerland’s largest Porsche outlets. Operations started in 2H09. estimated investment Estimated investment is US$18 mn. 184 new vehicles sold in 2012 US$18 million

Switzerland’s largest Porche outlet

Investor Relations Presentation - Q4 2012 | 31 VDF is a hidden value...

Consumer Finance new contracts Consumer financing company established with 51% share of Volkswagen Financial Services 2010: 27,166 units (36% yoy increase) AG and 49% share of Doğuş Group on 2011: 41,562 units (53% yoy increase) 30 December 1999 for financing purchases 2012: 51,177 units (23% yoy decrease) of all types of goods and services in line with budgetary and payment conditions of its customers. Offering its services nationwide Turkey, vdf credits given ensures the ease of mind of its consumers by providing Vehicle and Service Credits from single point: the authorized dealer. 2010: TRY 824 mn (41% yoy increase) 2011: TRY 1,500 mn (82% yoy increase) The entire loan transaction is finalized by the vdf representative located at authorized 2012: TRY 1,906 mn (27% yoy increase) dealers. To get quick response, loan applications are transferred to vdf through internet. vdf offers other advantages in addition to single-point loan services such as portfolio quick results, competitive interest rates, and minimum formalities. 2010: 54,832 units (10% yoy decrease) 2011: 54,832 units (10% yoy decrease) 2012: 91,257 units (34% yoy decrease) * Estimated data.

Investor Relations Presentation - Q4 2012 | 32 Motor Vehicle Inspection Stations (MVIS)

TÜVTURK – a cash cow business of DOAS, Bridgepoint and TÜV SÜD rights to build & operate

TÜVTURK consortium was granted by Turkish Privatization Administration the right to build 20 years & operate MVISs in Turkey for 20 years in in exchange of US$552mn exchange of US$552mn. 191 fixed and 80 mobile inspection stations are fully operational as of end-1Q09, with an investment of US$200mn. expected revenues The operations in every region, except Istanbul, are being carried out by the business associates (BA) for 20 years in exchange of one-time US$15bn license fees totalling US$750mn collected by the TÜVTURK consortium. in 20 years The BAs will share their revenues with the government: 1st-3rd years: 30%; 4-10th years: 40% and 11-20th years: 50% ...and with TÜVTURK consortium: 1st-10th expected ebitda years 7% and 11-20th years: 20% The MVIS business is expected to generate US$15bn revenues in 20 years with US$2.5bn US$2.5bn EBITDA. in 20 years

Investor Relations Presentation - Q4 2012 | 33 DOD: Used Car Sales

Almost 100% of the second-hand vehicles sales market is non-organized. sales - 2012 The market is expected to grow exponentially in the coming years, due to increase in 17,000 consumer awareness about organized side vehicles and much more favorable tax rates compared to new cars. DOD is the largest organized retailer of the used car business. The only brand that provides guarantee for used car business the second hand cars which increases the consumer confidence. no. 1 17,000 units sold in 2012. organized retailer DOD SALES PERFORMANCE

17,000 15,559

13,024 13,125 12,550 the only brand to give 10,746

7,760 guarantee 4,881 for second hands

2005 2006 2007 2008 2009 2010 2011 2012

Investor Relations Presentation - Q4 2012 | 34 LeasePlan

Began to perform in the market with a 51% LeasePlan and 49% Doğuş Otomotiv the world leader shareholding structure in 2007 The world leader in operational leasing, LeasePlan manages 1.3 million vehicles 1.3 mn worldwide with more than 6,000 employees in 5 vehicles worldwide continents and 30 countries. Serving operational leasing solutions based on its international experience and local knowledge, LeasePlan Turkey approaches customer needs in integrity, with proactive engagement and expertise in a trustworthy manner. as of the end of 2011 As of the end of 2011, LeasePlan Turkey has increased the number of its vehicles in its portfolio to 8,061, growing by 9% and offering 8,061 services to 691 respective customers. # of its vehicles in its LeasePlan’s portfolio is primarily composed of brands like Volkswagen, SEAT, Audi, Skoda, portfolio Renault, Ford, Fiat and Toyota, all of which have prominent shares in the fleet market. LeasePlan Turkey has accomplished to sell a total number of 2,768 used cars via DOD Authorized Dealers LeasePlan Turkey in 2011. LeasePlan Turkey increased its satisfaction ratio from 96% to 98%, with its innovative solutions. 98% customer satisfaction

Investor Relations Presentation - Q4 2012 | 35 Corporate Governance

Investor Relations Presentation - Q4 2012 | 36 DOAS: First GRI reporter in automotive sector in Turkey

CSR at Doğuş Otomotiv Economic Impact Value Chain As of May 2010, we signed UN Global Multiple Brand Management Environmental Impact Compact. Supply Chain Climate Change Business Continuity Environmentally Friendly We aim to be the pioneer in automotive sector Quality & Process Management Technologies & Products in Turkey, by publishing our GRI certified CSR Lean Applications Energy Efficiency Report in October 2010. Risk Management Water Consumption Information Technologies Waste & Scrap Management Sales & After Sales Services Authorized Sales & After Sales Approach to Sustainability Strategy and Vision

Social Impact Products & Services Employees Employee Health &Safety Customers FIRST GRI Customer Health &Safety REPORTER IN OUR Traffic is Life SECTOR Human Rights Community Engagement IN TURKEY

Investor Relations Presentation - Q4 2012 | 37 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.

Investor Relations Presentation - Q4 2012 | 4