INVESTOR PRESENTATION SEPTEMBER 2011 Agenda

• Competitive Advantages

• Key Operating Data

• ISE Performance

2 Investor Presentation September 2011

FORD OTOSAN OVERVIEW Company Overview Mfg. & Assy. Facilities Kocaeli Assembly Inonu Powertrain and Cargo Assembly Parts Distribution Kartal Engineering Facility Gebze Blue Collar Employees 7,865+ White Collar Employees 2,060+ Ownership

2010 Net Sales $ 4.9 Billion Market Cap (as of Aug. 31, 2011) $ 2.3 Billion

4 A Brief History • 1928 – Vehbi Koc assigned as Ankara Ford dealer • 1959 – Otosan founded as Ford assembler in Turkey • 1966 – First passenger car (Anadol) production in Turkey • 1967 – Production of Transit minibus launched • 1975 – Transit van and pick-up added to range • 1977 – License agreement with Ford signed • 1982 – İnönü plant launched truck and engines • 1983 – Ford assumes 11% ownership in Otosan • 1987 – Ford increases ownership to 30% • 1994 – Ford Escort production launch • 1997 – Ford assumes 41% equity in “Ford Otosan” • 2001 – Kocaeli plant launched with Transit production • 2002 – Transit Connect production launched • 2003 – New Heavy Truck introduced • 2004 – Transit export launch • 2006 – New Transit launch • 2007 – Gebze Engineering Centre opened • 2010 – Ford Otosan celebrated its 50th Year Anniversary

5 Achievements

3rd biggest Turkish exporter company in 2010

Domestic Market Leader for the 9th consecutive year

As of year-end, market share improvement in domestic industry

“Truck of the Year” Award in North America

One of the most profitable and highest dividend paying companies in İstanbul Stock Exchange

“ehabettin Bilgisu Environment” Award (Kocaeli Chamber of Industry, 2010) Chairman’s Leadership Award for Diversity, 2010 (“Let’s Remove Barriers” project) “Environmental Leadership” Award (Ford - 2010) (Sludge drying unit at wastewater treatment plant)

6 Plant Locations

İnönü Plant - 1981

Parts Distribution Center 1998

Kocaeli Plant - 2001

7 • Plants Kocaeli Plant Best Ford Brand Assembly Plant in Europe (*) since 2002

• Transit & Transit Connect production • Sea front location, integrated pier/terminal covering exports & BU imports • 320,000 units annual production capacity ISO ISO 9001 14001

İnönü Plant Best Ford Powertrain Plant Worldwide (*) since 2005 • Heavy truck, engine and powertrain production

• Annual capacity - 10,000 trucks ISO ISO - 66,000 powertrains 9001 14001

(*) Ford Production System Ratings 8 • Facilities Kartal Parts Distribution Centre

• Marketing, Sales, Parts Operations, Warranty, Field Operations, Dealer Training and Customer Relations Center are located at this site Gebze Engineering Facility

• Engineering services for Ford Otosan and Ford of Europe’s Product Development Centres • 580+ Engineers • Located in a Technopark Area and Free Zone near İstanbul

9 Domestic Market Leader in 2010: 36.9% market share 123K units exported in 2010 International Van of the Year 2007 Award

10 Domestic Market Share in 2010: 19.5% 2010 N. America Truck of the Year 52K units exported in 2010

11 Cargo Domestic Market Share in 2010: 18.3% Exported to various markets

12 A Full Line of Cars 2nd in the Domestic Market in 2010: 10.8% market share

13 Investor Presentation September 2011

TURKISH AUTOMOTIVE INDUSTRY OVERVIEW Turkish Automotive Industry

8M 2010 / 8M 2011 Automotive Industry Automotive Industry 792 800 741 766 600 569 668 633 500 %37 600 574 524 417 400

393 400 300

(000) Units (000) Ford Otosan (000) Units (000) 200 Domestic Sales 203 200 177 %35 88 100 65

0 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 8M 2010 8M 2011 8M 2010 8M 2011

Car Light Commercial Vehicle Car Light Commercial Vehicle Medium Commercial Vehicle Heavy Commercial Vehicle Medium Commercial Vehicle Heavy Commercial Vehicle

15 2011 Outlook

2011 Market Outlook Market Share Forecast for 1000 855 2011 FY 792 800 8% 15.4 % 600 Ford Otosan Domestic Sales 400 (000) Units (000)

200 124 6% 131

0 Ford Otosan Others 2010 2011F 2010 2011F

Car Light Commercial Vehicle Medium Commercial Vehicle Heavy Commercial Vehicle

16 Ford Otosan Market Share

20% 17.0% 17.1% 16.8% Transit 15.6% 15.3% 15.5% 16% Connect 15.1% 15.4% 14.7% 11.9% 13.7% Jumbo 12% 11.3% 9.6% 9.4% 11.2% New Escort 9.6% Transit Cargo 8% 7.2% Focus 4.0% 4% 5.0% VE 83 0%

4 5 7 9 1 3 5 7 9 F '93 '9 '9 '96 '9 '98 '9 '00 '0 '02 '0 '04 '0 '06 '0 '08 '0 '10 1 '1

17 Market Shares

August YTD 2011 2010 FY

Market Rank Market Rank Share Share

Total Automotive Industry 15.4% 1 15.6% 1

Passenger Car 10.6% 2 10.8% 2

LCV 19.8% 2 19.5% 2

MCV 34.8% 1 36.9% 1

Heavy Truck 22.4% 2 18.3% 2

18 Market Share in Total Automotive Industry August YTD 2011

(%)

15.4 FORD 16 14.4 13.5 OTOSAN 12 9.1 Market Share 8 5.4 0.1 YoY

0 Fiat Renault VW Hyundai

19 Market Shares August YTD 2011

Passenger Car Light Commercial Vehicle (%) (%) 20 45 37.8 16.3 16 36

12 10.6 10.1 27 9.2 19.8 7.7 8 18 11.4 9.0 8.8 4 9

0 0 Renault Fiat VW Hyundai Fiat Peugeot Citroen VW

0.2 Pts. YoY 0.1 Pts. YoY

20 Market Shares August YTD 2011 Medium Commercial Vehicle Heavy Commercial Vehicle (%) (%) 40 48 34.8 38.5 40 32

32 24 22.4 24 16 13.3 10 16 8.4 9.5 8.9 8 5.5 6.3 8

0 0 VW Renault Mercedes Mitsubishi Mercedes Scania MAN Renault

1.9 Pts. YoY 7.2 Pts. YoY

21 Taxes on Vehicle

Passenger Cars Commercial Vehicles Engine Size Model VAT* SCT** TOTAL Engine Size Model VAT* SCT** TOTAL

3 Fiesta <3000 cm Transit <1600 cm 3 Fusion Van Connect 18% 4% 23% Focus 18% 37% 62% C-Max Van Mondeo(1.6) Ranger S-Max(1.6) Minibus 18% 9% 29%

1601- 2000 Mondeo(2.0) 18% 60% 89% Transit S-Max(2.0) Combi 18% 10% 30% Kuga Connect Galaxy Combi

>2000 18% 84% 117% Truck * VAT: Value Added Tax Cargo 18% 4% 23% ** SCT: Special Consumption Tax Commercial Vehicles are Taxed Lower than Cars

22 Investor Presentation September 2011

COMPETITIVE ADVANTAGES Competitive Advantages

Large - Scale Export Program

Strong & Committed JV Partner Support Strong Distribution Network

Low Cost, Flexible Manufacturing

Commercial Vehicle Product Development and Engineering Capabilities

Experienced and Skilled Workforce

Strong Corporate Governance Activities

24 Large-Scale Export Program

250 4.0 222 219 Revenue (US$Export Billion) 3.7 3.5 200 185 3.4 164 177 3.0 2.7 150 141 2.4 129 2.5 2.1 2.1 2.0 100 75 1.8 1.5 1.0 50 1.0

Export Volume (000 Units) Volume Export (000 0.5 0 0.0 2003 2004 2005 2006 2007 2008 2009 2010

Transit Connect Transit Cargo & Other Export Revenue (US$ Billion)

Less Dependent on Domestic Market Economies of Scale

25 Strong & Committed JV Partner Support

Technological capability

Strong and widespread position in the local market

Know-How

Turkey’s largest and most reputable group

26 Strong Distribution Network

Sales: 118 After-Sales: 158 Total Dealer: 209

27 Kocaeli Plant Capacity Utilisation Rate

350 117% 320 320 120% 112% 320 320 106% 300 300 104% 250 100% 250 88% 80% 200 200 82% 200 80% 74% 150 140 60% 54% 100

40% Capacity Utilisation Rate

Year-end Capacity (000 Units) 50

0 20% 2003 2004 2005 2006 2007 2008 2009 2010 2011F

Year-end Capacity Capacity Utilisation Rate

28 Commercial Vehicle Product Development and Engineering Capabilities Gebze Engineering Facility in Turkey • Ford Otosan is integrated into Ford’s global PD organisation • This facility underlines Ford’s commitment to Turkey as an excellent environment for business and a rich source of well-educated engineering talent • Ford Otosan’s PD operations have further planned expansion

29 Experienced and Skilled Workforce

BLUE COLLAR WHITE COLLAR Primary & Secondary Vocational University Ph.D. School Others College 1 % High 1 % 8 % 8 % 16 % school M.Sc. 15 % 28 %

Technical High school B.Sc. - B.A. 60 % 63 %

30 Strong Corporate Governance

Transparent Investor Relations

Meets Capital Market Board Governance Rules

Corporate Disclosure Policy

Executive and Audit Committees

31 Investor Presentation September 2011

KEY OPERATING DATA Production Volume

400

300 286 292 258 269 243 242 207 %21 200 173 (000) Units 115 100

0 2003 2004 2005 2006 2007 2008 2009 2010 2011F

Light Commercial Vehicle Medium Commercial Vehicle Heavy Truck

33 Wholesales Volume – Domestic / Export

400 349 350 325 295 298 294 303 300 %15 255 250 216 214 177 200 129

(000)Units 150

100 126 133 50 85

0 2004 2005 2006 2007 2008 2009 2010 2011F

Domestic Export

34 Revenue - Domestic / Export

8,000

6,208 6,000 4,948 4,844 4,516 4,640 4,142 62% 4,000 3,702 47% 55% 54% 3,064 47% 69%

US$ Million US$ 57% 2,109 56% 2,000 46% 53% 45% 38% 53% 31% 43% 46% 54% 44% 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 H1

Domestic Export

35 EBITDA AND EBITDA Margin

800 15% 13.5% 13.2% 692 700 11.5% 11.1% 12% 600 559 597 10.3% 534 11.7% 10.1% 8.8% 500 535 508 9% 400 373

300 270 6% EBITDA Margin 200 EBITDA (US$ Million) 3% 100

0 0% 2004 2005 2006 2007 2008 2009 2010 2011 H1

EBITDA EBITDA Margin

36 Operating Profit and Operating Margin

700 9.5% 10%

600 8.8% 8.9% 556 8.7% 8.7% 8% 8.0% 500 7.4% 424 401 405 7.0% 395 400 363 6%

300 258 226 4% 200 OperatingMargin 2% 100 Operating Profit (US$ Million)(US$OperatingProfit 0 0% 2004 2005 2006 2007 2008 2009 2010 2011 H1

Operating Profit Operating Margin

37 Margin Comparison with Peers at ISE 2011 H1

15%

10% 10% 9% 7% 7% 6% 6% 6% 5% 5% 5% 3%

0% Ford Otosan Isuzu Karsan Dogus Tofas -5%

-10%

-15%

-20%

Operating Margin EBITDA Margin

38 CAPEX

350 300 300

250

200 158 US$ Million 150 128 136 116 110 100 55 50 56 50

0 2003 2004 2005 2006 2007 2008 2009 2010 2011F

Capacity Increase New Products Maintenance & Others

39 Investor Presentation September 2011

ISTANBUL STOCK EXCHANGE PERFORMANCE ISE & FROTO Index

500 Ford Otosan ISE-100 400

300

Index 200 256% 100 101% 0 Oct-09 Oct-10 Apr-09 Apr-10 Apr-11 Dec-08 Feb-09 Jun-09 Dec-09 Feb-10 Jun-10 Dec-10 Feb-11 Jun-11 Aug-09 Aug-10 Aug-11

Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 31 Aug. 2011 FROTO Cumulative Change(%) %4 %46 %126 %143 %195 %196 %257 %287 %256 ISE-100 Cumulative Change(%) (%4) %38 %78 %97 %110 %104 %145 %146 %101

41 Dividend Payment between 2004 - 2011

400 350 $329 $320 $316 $330 300 $260 $267 250 $196 200 US$ Million US$ 150 $74 100 50 0 2004 2005 2006 2007 2008 2009 2010 2011 Q2

Dividend Yield Rate 2.4% 10.3% 9.1% 9.5% 28.7% 12.3% 10.6%

The total dividend payment between 2004 – 2011 reached to $2.1 Billion In the last five years, Ford Otosan ranks first among the ISE listed companies with 14% dividend yield.

42 Disclaimer

This presentation contains forward-looking statements that reflect the Company management’s current views with respect to certain future events. Although it is believed that the expectations reflected in these statements are reasonable, they may be affected by a variety of variables and changes in underlying assumptions that could cause actual results to differ materially. .

Neither Ford Otosan nor any of its directors, managers or employees nor any other person shall have any liability whatsoever for any loss arising from use of this presentation. Investor Presentation September 2011 Thank youyou......

Please visit our website: www.fordotosan.com.tr