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CCI Earnings Release Istanbul , 03 November 2021 " Our Purpose - Driven Strategy Continues Creating Value " • • • • 3Q2021 HIGHLIGHTS Sales volume + 11.5 % Net sales revenue + 36.6 % FX - neutral NSR + 26.6 % • EBITDA + 16.6 % EBITDA margin -415 bps to 24.1 % Net profit of TL 916 million Follow 4th November live event 3Q21 Results Webcast ; 16:00 Istanbul 13:00 London 09:00 New York Click here to access webcast Burak Basarir , CEO of Coca - Cola Icecek , commented : CCI's results in the third quarter reflect the continued business momentum across our operations . We are happy to deliver the highest ever quarterly sales volume , solid topline performance , and healthy margins . On top of 11 % volume growth on a yearly basis , our net sales revenue per unit case on an FX neutral basis grew by 14 % . Despite upward price trends in global commodity markets and supply - side bottlenecks , we managed to deliver strong profit growth and margins in 3Q21 . Our business benefited from the increased mobility and eased restrictions as vaccinations gathered pace in most of our key markets during the quarter . Having hedged the majority of our commodity needs for 2021 , the pressure of high commodity prices on our cost base was limited . Despite cycling a very strong quarter of 3Q20 , where CCI recorded its highest margin in history , our EBITDA increased by 17 % with a 24 % margin in the third quarter of 2021 , still significantly above historical averages . As guided before , the margin contraction is due to the unsustainably high base of the last year . As we continue to navigate the pandemic environment , we are fully on track to deliver in line with the guidance and the quality growth algorithm in 2021 , thanks to our brands , adaptive business model , prudent financial policy , and agile mindset . Turkey operation had a very successful quarter , achieving the highest summer season sales . This was delivered by the relentless focus on serving consumer needs , excellence in execution , and digitizing customer relationships . Favorable weather conditions and partial recovery in the tourism sector were other positive contributors . Volume grew 15 % in the third quarter . Revenue growth management initiatives and improving channel mix with recovery at on - premise outlets contributed to the robust topline performance in Turkey . On the international front , we recorded 9 % volume growth in 3Q21 . Pakistan continued building on its sound infrastructure and grew 8 % in the quarter on the back of higher outlet penetration , improved route to market capabilities , better execution , and effective promotion management . Smooth execution of price adjustments and refreshment summer offerings assisted healthy topline growth in Pakistan . Central Asia operations maintained strong momentum with double- digit volume growth mainly driven by Kazakhstan , Azerbaijan , and Kyrgyzstan . As we move towards the year - end , some of the headwinds continue impacting our operations . The Covid - 19 variants and the increasing number of cases in our countries create uncertainties for the rest of the year , especially in the upcoming winter . The upward price trends in global commodity markets resulting from strong demand and supply - side bottlenecks lead to a higher cost environment and continue to put pressure on margins . However , we are confident to deliver in line with our 2021 guidance as we continue to exercise financial discipline , tight opex management , along with raw material hedging initiatives taken throughout the pandemic . We expect to face cost pressures on our 2022 margins resulting from higher commodity prices . We work on various mitigation plans to sustain our profitable growth , including but not limited to RGM initiatives , widening our supplier base , strong collaboration within the Coke system , and locking in physical & financial commodity hedges where possible . Leveraging learnings from the pandemic period , we focus on lean portfolio management and the generation of cash flows for the rest of the year . As of the 29th of September , we completed the Uzbekistan acquisition , and we are excited to consolidate it to our operations . We believe the country offers significant growth potential . Integration work is proceeding at full speed . By the end of the year , we expect to provide more precise guidance on this new business's impact on our consolidated results . As the pace of recovery among our markets motivates us , we continue to keep our cautious stance while having full confidence in the strong potential of our business and the strength of our people . We will continue to act as One Team , strive to create value for all our stakeholders , and keep working for a healthy , sustainable , and profitable future at CCI . 1