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Investor Presentation January 2026
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Disclaimer 2 IMPORTANT NOTICE: THIS PRESENTATION IS NOT AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL SECURITIES. IT IS SOLELY FOR USE AS AN INVESTOR PRESENTATION AND IS PROVIDED AS INFORMATION ONLY. THIS PRESENTATION DOES NOT CONTAIN ALL OF THE INFORMATION THAT IS MATERIAL TO AN INVESTOR. BY ATTENDING THE PRESENTATION OR BY READING THE PRESENTATION SLIDES YOU AGREE TO BE BOUND AS FOLLOWS: This presentation has been prepared by Sisecam UK PLC and Türkiye Şişe ve Cam Fabrikaları A.Ş. and is the sole responsibility of Sisecam UK PLC and Türkiye Şişe ve Cam Fabrikaları A.Ş. The information contained in this presentation has not been independently verified and no representation, warranty or undertaking, express or implied, is or will be made by Sisecam UK PLC, Türkiye Şişe ve Cam Fabrikaları A.Ş. or BNP PARIBAS, Citigroup Global Markets Limited, Emirates NBD Bank PJSC, J.P. Morgan Securities plc (the “Joint Bookrunners") or their respective affiliates, advisors or representatives as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein (and whether any information has been omitted from the presentation). Any offering of a securities that may be related to the subject matter of this presentation will be made solely on the basis of the information contained in the offering circular published by Sisecam UK PLC in final form relating to such securities and in such case the information contained herein will be superseded in its entirety by the offering circular in its final form. In addition, because this communication is a summary only, it may not contain all material terms and should not form the basis for any investment decision. The recipient should consult the offering circular for more complete information about any proposed offer of any securities. Failure to comply with this restriction may constitute a violation of applicable securities laws. The information set out herein may be subject to updating, revision, verification and amendment and such information may change materially. None of Sisecam UK PLC, Türkiye Şişe ve Cam Fabrikaları A.Ş., the Joint Bookrunners or any of their respective affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoever arising from any use of this presentation or its contents, or otherwise arising in connection with this presentation. This presentation should not be construed as legal, tax, investment or other advice and the recipient is strongly advised to seek their own independent advice in relation to any investment, financial, legal, tax, accounting or regulatory issues discussed herein. The securities described herein are not intended to be offered, sold or otherwise made available and should not be offered, sold or otherwise made available to retail clients (as defined in MiFID II) in the European Economic Area (“EEA") or to retail clients (as defined in the Financial Conduct Authority Handbook Conduct of Business Sourcebook) in the United Kingdom (the “UK"). In member states of the EEA, this presentation and any securities described herein are directed only at persons who are "qualified investors" within the meaning of Regulation (EU) 2017/1129 (the "EU Prospectus Regulation"). This announcement must not be acted on or relied on in any member state of the EEA by persons who are not qualified investors. Any investment or investment activity to which this announcement relates is available only to qualified investors in any member state of the EEA. In the UK, this announcement is directed only at persons who are "qualified investors" within the meaning given in Regulation (EU) 2017/1129 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. In addition, in the UK, this presentation is made to and is directed only at qualified investors who (i) are persons who have professional experience in matters relating to investments and who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) of the United Kingdom (the "Order"); (ii) are high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order or (iii) any other persons to whom it may otherwise lawfully be communicated (all such persons in (i) to (iii) above together being referred to as "relevant persons"). Any person who is not a relevant person should not act or rely on this presentation or any of its contents. Any investment or investment activity to which this presentation relates is available only to and will only be engaged in with such relevant persons. Solicitations resulting from this presentation will only be responded to if the person concerned is a relevant person. UK MiFIR Product Governance Rules Professionals / ECPs-only – Manufacturer target market (UK MiFIR Product Governance Rules) is eligible counterparties and professional clients only (all distribution channels). In connection with Section 309(B)(1)(c) of The Securities And Futures Act 2001 of Singapore, as modified or amended from time to time (the “SFA") and the securities and Futures (Capital Markets Products) Regulations 2018 of Singapore (the “CMP Regulations 2018"), Sisecam UK PLC has determined the classification of the securities described herein as prescribed capital markets products (as defined in the CMP Regulations 2018) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16 Notice on Recommendations on Investment Products). This presentation and its contents are confidential and proprietary to Sisecam UK PLC and Türkiye Şişe ve Cam Fabrikaları A.Ş., as applicable and no part of it or its subject matter may be reproduced, redistributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person or published in whole or in part for any purpose without the prior consent of Sisecam UK PLC, Türkiye Şişe ve Cam Fabrikaları A.Ş. and the Joint Bookrunners. If this presentation has been received in error then it must be returned immediately. This presentation is not made to or directed at real persons and/or legal entities domiciled in Türkiye. This presentation does not constitute or form part of, and should not be construed as, an offer to sell, or the solicitation or invitation of any offer to buy or subscribe for, securities in any jurisdiction or an inducement to enter into investment activity. This presentation and the information contained herein are not an offer of securities for sale in the United States and are not for publication or distribution to any persons in the United States or to US persons (within the meaning of Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”)), unless such persons are qualified institutional buyers as defined in Rule 144A under the Securities Act who are also "qualified purchasers" within the meaning of Section 2(a)(51)(A) of the United States Investment Company Act of 1940, as amended (the "Investment Company Act"), and the rules and regulations thereunder, and therefore the accessing the information in the presentation, you present that you are either (1) outside the United States and not a US person or (2) a “qualified institutional buyer” who is also a “qualified purchaser”. The securities discussed in this presentation have not been and will not be registered under the Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, any US person (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Any failure to comply with the foregoing restrictions may constitute a violation of US securities laws. The information presented herein is an advertisement and does not comprise a prospectus for the purposes of the EU Prospectus Regulation. Any purchase of securities should be made solely on the basis of a final offering circular to be prepared in connection with such offering of such securities which, once available, shall be available on the Euronext Dublin website at www.euronext.com/en/markets/dublin . Investors should not subscribe for or purchase the Notes except on the basis of the information contained in the final offering circular. This presentation includes statements that are, or may be deemed to be “forward looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “anticipates”, “believes”, “estimates”, “expects”, “aims”, “intends”, “may”, “plans”, “considers”, “projects”, or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places and include, but are not limited to, statements regarding Sisecam UK PLC and/or Türkiye Şişe ve Cam Fabrikaları A.Ş.'s intentions, beliefs or current expectations concerning, amongst other things, results of operations, financial positions, prospects, growth, strategies and expectations of the Turkish glass industry. By their nature, forward looking statements involve risk and uncertainty, because they relate to future events and circumstances. Forward looking statements are not guarantees of future performance, and the actual results, performance, achievements or industry results of Sisecam UK PLC and its group’s operations, results of operations, financial position and the development of the markets and the industry in which they operate or are likely to operate and their respective operations may differ materially from those described in, or suggested by, the forward-looking statements contained in this presentation. In addition, even if the operations, results of operations, financial position and the development of the markets and the industry in which Türkiye Şişe ve Cam Fabrikaları A.Ş., Sisecam UK PLC and its group operates are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, industry trends, competition, changes in regulation and currency fluctuations. Forward looking statements may, and often do, differ materially from actual results. Any forward-looking statements in this presentation reflect Sisecam UK PLC and its group’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to Sisecam UK PLC and Türkiye Şişe ve Cam Fabrikaları A.Ş.'s financial position, prospectus, operations, results of operations, growth, strategy and expectations of the Turkish glass industry. Any forward-looking statement speaks only as of the date on which it is made. New factors will emerge in the future, and it is not possible for Sisecam UK PLC or Türkiye Şişe ve Cam Fabrikaları A.Ş. to predict which factors they will be. In addition, Sisecam UK PLC and Türkiye Şişe ve Cam Fabrikaları A.Ş. cannot assess the impact of each factor on their business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those described in any forward-looking statements. None of Türkiye Şişe ve Cam Fabrikaları A.Ş., Sisecam UK PLC nor any Joint Bookrunners nor any of their affiliates, advisers or representatives have any intention or obligation to update this presentation, including any forward-looking statements contained herein. A rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time by the assigning rating organization. Similar ratings for different types of issuers and on different types of securities do not necessarily mean the same thing. The significance of each rating should be analyzed independently from any other rating.
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Today’s presenters 3 Barış Gökalp Director of Treasury 27 years of experience Hande Özbörçek Investor Relations Director 21 years of experience Gökhan Güralp Chief Financial Officer 26 years of experience
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Agenda 4 Transaction overview Introduction to Şişecam Key credit highlights Key financials 01 02 03 04 Appendix05
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Transaction overview 01
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Group structure1 6 ARCHITECTURAL GLASS Trakya Glass Rus JSC Saint Gobain Glass Egypt S.A.E. Trakya Glass Rus Trading Şişecam Flat Glass Italy S.R.L. Trakya Glass Bulgaria EAD Saint Gobain for Glass Egypt S.A.E. Şişecam Flat Glass India Private Ltd. TRSG Glass Holding BV Şişecam Investment B.V. Şişecam Auto. Rus Trading LLC INDUSTRIAL GLASS Şişecam Otomotiv A.Ş. Şişecam Elyaf Sanayii A.Ş. Şişecam Automotive Romania SA Şişecam Auto Bulgaria EAD Şişecam Automotive Rus JSC Şişecam Auto Germany GmbH Trakya Investment B.V. GLASSWARE Paşabahçe Mağazaları Paşabahçe (Shanghai) Trading Paşabahçe Spain SL Paşabahçe Glass GmbH Paşabahçe the US Paşabahçe SRL Paşabahçe Egypt Glass Man. SAE Paşabahçe Bulgaria EAD Posuda Limited Şişecam Investment B.V. GLASS PACKAGING JSC Mina LLC Ruscam Glass Pack. Holding OOO Ruscam Management Merefa Glass Company Şişecam Glass Pack. Hungary Kft. Şişecam Investment B.V. Şişecam Soda Lukavac Sisecam Chemicals Wyoming LLC Solvay Sodi Stockton Soda Ash Port LLC. CHEMICALS Şişecam Shanghai Trade Co. Pacific Soda LLC Şişecam Bulgaria Cromital Şişecam the US Inc. Şişecam Chem Res. LLC Solvay Şişecam Holding AG Şişecam Investment B.V. ENERGY Camiş Elektrik Şişecam Enerji OTHER Oxyvit Kimya Şişecam Investment B.V. Şişecam Sigorta Şişecam Çevre Sistemleri Şişecam Dış Ticaret SC Glass Trading B.V. Camiş Egypt Mining Rudnik Krecnjaka Vijenac Refel S.p.A. Camiş Ambalaj Sisecam UK PLC Camiş Madencilik Production joint ventures Joint venturesFREE FLOAT 53% 2% 45% Guarantor Issuer Şişecam Flat Glass South Italy S.R.L. 1 As of September 30th, 2025
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Introduction to Şişecam 02
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE 24% 12% 12%23% 22% 5% 2% Şişecam at a glance 8 The only global glass producer operating across all core market segments of the glass industry Broad global presence 13 countries 47 production plants 60% international sales2 150+ export countries Robust financial profile TRY 162bn total net sales 21% Adjusted EBITDA3 margin 11% EBITDA margin 2.5x Net financial debt/ Adjusted EBITDA TRY 12bn Net short FX position Strong corporate governance supported by an experienced management team and a blue- chip shareholder Source: Company Management; Note: All financial figures are for 9M 2025 unless stated otherwise; all rankings are based on installed capacity and management estimates 1 Basic Chromium Sulphate production capacity ranking is given for Chromium Chemicals; 2 Includes exports from Türkiye and sales of non-Türkiye facilities; 9M 2025; 3Defined as EBITDA adjusted for inflation accounting effect; 4Share of business segments is according to 9M 2025 net external sales breakdown Diversified business segments4 Other GlasswareArchitectural Glass ChemicalsGlass Packaging Industrial Glass Energy ⚫ 22k+ employees ⚫ 90 years of corporate history Global rankings #1 Glassware producer #1 Basic Chromium Sulphate producer1 #4 Glass Packaging producer #4 Soda Ash producer #5 Flat Glass producer
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Share in net external sales2 Overview of business segments 9 Product Description Net external sales Adj. EBITDA margin EBITDA margin3 TRY19bn 12% (1%) Geographical presence # of plants 5% Energy ⚫ Electricity generation and electricity & natural gas trading TRY9bn (0%) (0.1%) 1 Turkey 15 MiscellaneousKey end markets 23% Glass Packaging ⚫ Manufacturing of glass packaging solutions for the food, beverage, pharmaceuticals and cosmetics industries TRY37bn 22% 16% 1 Turkey Hungary Russia Georgia 10 F&B, pharmaceuticals, cosmetics 24% Architectural Glass ⚫ Manufacturing of flat glass, patterned glass, mirror, laminated glass, coated glass, solar control glass (including solar panels and energy conserving glass) TRY38bn 27% 23% 1 Turkey Bulgaria Italy Russia Egypt India 12 Construction, solar power, home appliances 12% Glassware ⚫ Production of soda, crystalline and heat- resistant borosilicate glass. ⚫ Manufacturing/retail of automatic and hand-made glassware under the Paşabahçe brand. 1 Turkey Bulgaria Russia Egypt 6 Retail, HoReCa (Hotels, Restaurants & Cafes), B2B (Industry, Promotion, Decoration) Industrial Glass ⚫ Manufacturing of automotive glass, encapsulation and glass fiber TRY20bn 15% 2% 1 Turkey Bulgaria Germany Romania Slovakia Hungary Russia 9 Automotive, renewable energy, marine products, engineering plastics, composite industry 2% Other ⚫ Products/services of mining (silica sand, limestone, dolomite, feldspat and kaolin), paper packaging, fine chemicals, insurance, recycling and refractory materials TRY3bn 40% (23%) 1 Turkey Italy 3 Glass, glass fiber, ceramics, chemicals, building insulation, metallurgy, animal feed, mining Source: Company management Note: All financial figures are for 9M 2025, unless stated otherwise; 1Soda ash and sodium bicarbonate; 2 Net Sales to third parties; 3 EBITDA Margin is calculated by EBITDA / Total Net Sales; 4Ongoing greenfield investment announced in 2021; 52 co-generation facilities located in Türkiye 22% ⚫ Production of soda ash1 and chromium chemicals TRY35bn 15% 13% 1 Turkey Bulgaria Italy Bosnia USA 6 Glass, detergent, textile, leather industry, chemicals, metal coating, impregnite, pigment Chemicals 12% 4
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Şişecam serves highly diversified end markets through its broad suite of solutions 10 Glass Packaging Architectural Glass Soda Ash OxyvitChromium MiningGlass Fiber RefractoryAutomotive Glass Glassware Food & Beverage Construction Retailing Chemistry Energy Consumer Products & Health Feed Automotive Glass Service Other ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ •Radar reflective- absorbing navy ship window •Marine •Air transport •Wood preservation •Steel •Mining •Water treatment •Flue gas treatment
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Şişecam has maintained long-standing industry leadership since 1935 11 ⚫ Establishment of a Glass Packaging plant in Paşabahçe with a manufacturing capacity of 3,000 tons/year ⚫ First export of glass bottles ⚫ Pioneer of Turkish industry 1935-1960 Establishment and single plant stage 1960-1990 Strong growth 1990s Structuring Investments 2000s Global vision 2010s Continuous prudent expansion 2020 - 2025 Growth to Resilience ⚫ First glassware export to the US ⚫ Entrance into Flat Glass and Chemicals markets ⚫ Growth in Glass Packaging ⚫ State-of-the-art technologies (“light bottle”) ⚫ Institutional R&D ⚫ Inauguration of production expansion strategy (facility acquisitions) ⚫ Reaching industry- leading volumes ⚫ Adoption of efficient management structure ⚫ Outbound production expansion ⚫ First production joint venture in Bulgaria ⚫ Entry to Georgia and Egypt ⚫ Numerous greenfield investments and acquisitions in Türkiye and abroad (Russia, Italy and Bulgaria) ⚫ Entry to Russia ⚫ Recovery management ⚫ Operating model transformation ⚫ Process optimization and digitalization ⚫ Risk oriented capital management ⚫ Acquisitions: Refractory business (Italy); Software technology company (Türkiye); Port Management (USA); Soda ash (USA) Local Glass Manufacturer Export & Diversification Regional Growth Globalization ⚫ Investment period & vision to be among the top 3 glass manufacturers globally ⚫ Acquisition of Richard Fritz (Germany), Glasscorp (Romania), Sangalli Vetro (Italy) and Pearl for Glass Manufacturing (Egypt) ⚫ Joint venture in Russia in Flat Glass ⚫ Joint venture and further expansion in India by acquiring its JV’s share ⚫ Entry to the US
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Strategic initiatives preparing Şişecam for the future 12 Şişecam in the Future Thinks beyond glass, empowered by digital technologies, driven by value, committed to sustainability, and designing the future today 2026- 2028 Disciplined Management for Efficiency, Cost and Capital✓ Return of the Investments✓ Future-ready Foundations✓ Building Tomorrow AI-Enabled Enterprise • AI-Powered Operations • Data-Driven Decision Making✓ Invest in Where Value Emerges • Trend-setting Leadership • Customer Centricity✓ Deliver Across Cycle • New Products and Geographies • Diversified and Dynamic Portfolio ✓ Future Ready Corporate Culture • Focus on Innovation, People and Environment✓
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Şişecam has a comprehensive ESG plan 13 SUSTAINABILITY MEMBERSHIPS ⚫ Sisecam’s long-term strategy incorporates a comprehensive sustainability framework, aligned with its “CareforNext” program, which focuses on environmental protection, social development and responsible governance across all operational geographies ⚫ BIST Assessment score gradually improved from C- in 2013 to A- in 2022, kept at A- since 2022 ⚫ Listed in the BIST’s Sustainability Index since 2016 ⚫ Included in the BIST Sustainability 25 Index since 2022 Protect the planet Empower society Transform life Climate Change 2050 Carbon Neutrality, Development of installed RES capacity of 53 MW Water Use 15% reduction in fresh water consumption Circular Production Reaching 35% glass cullet use in glass packaging Corporate Heritage Global dissemination of glass heritage and culture Talent Acquisition, Management and Development Increasing functional and personal competences through training (47 in-person training hours per year) gaining skills of new generation, increasing the rate of employee loyalty Occupational Health and Safety Zero work accidents, well-being program Equality, Diversity and Inclusion Reaching a 25% female employment rate, promoting the multi-national work environment Digitalized value chain Transition to a digital working environment, completion of digitalization of all organizational operations Sustainable products Increasing the share of sustainable products in turnover, dissemination of life cycle analysis programs and eco- labelling Sustainability Across the Value Chain Dissemination of the supplier capacity development program, compliance with the code of conduct by all suppliers Value-Added Partnerships Establishment of collaborations and partnerships in pursuit of SDG 17 (Partnerships for Goals)
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Key credit highlights 03
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Key credit highlights 15 Strong and long-standing customer relationships with blue-chip companies across geographies2 Vertically integrated business with enhanced margin capture across the value chain3 Diversified portfolio and robust financial position enabling value creation across cycles4 Strong financial performance with proactive risk management and a commitment to reducing leverage5 Global leadership with geographically diverse and strategically located production facilities1 Highly experienced management team supported by blue chip shareholders6
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Business segment Europe World Flat Glass #2 #5 Glassware #1 #1 Glass Packaging #6 #4 Soda ash #4 #4 Chromium1 #1 #1 Global leadership with geographically diverse and strategically located production facilities 16 Centralization of activities (e.g. procurement, R&D) drives synergies✓ SCALE BENEFITS Ability to run long-term projects✓ Cost-efficient delivery with proximity to key markets✓ Global distribution network and proprietary infrastructure✓ 1 RANKS AMONG TOP PLAYERS GLOBALLY Note: Global rankings are given by installed capacity calculated by Şişecam using industry reports and sources such as: IHS (CMA); Trade Map; Glass Alliance; Freedonia; Glassglobal; Global Data; Reports&Markets; Research Allied Market Reports; All rankings are as of Sept. 30, 2025 1 Basic Chromium Sulphate production capacity ranking is given for Chromium Chemicals Broad global presence 13 countries 47 production plants 60% international sales 150+ export countries
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE ⚫ Widely recognized by consumers across Türkiye and globally ⚫ Associated with high quality, well designed and durable products ⚫ Recognized as a dependable and consistent producer of soda ash and leather chemicals Europe 55% Middle East 12% North America 10% South America 3% Asia 6% North Africa 12% Other 2% Sales in Türkiye 40% Exports from Türkiye 18% Europe 19%US 10% Russia, Ukraine & Georgia 11% Other 2% Strong and long-standing customer relationships with blue-chip companies across geographies 17 2 Reputable global brands [High brand equity globally]✓ [Industry leading with NPS]✓ [# of customers with xx% revenue share of the largest customer]✓ [xx% revenue share of the largest customer] ✓ [xx% contract renewal rate]✓ [Average contract length of ~xx yrs]✓ Geographic concentration Sisecam has 3,000+ customers with top 20 customer concentration of slightly higher than 50% in all core business areas excluding Architectural Glass and Glassware Regional breakdown of exports from Türkiye Diverse customer base1 41% developed markets exposure 1 Based on 9M 2025 net external sales figures
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Vertically integrated business with enhanced margin capture across the value chain 18 3 PRESENT THROUGH THE INDUSTRY VALUE CHAIN ACROSS DIVERSIFIED END MARKETS Raw Material Production (chemicals, energy, mining) Distribution, Wholesale, Retail (global network) Sales split by business segment1 Architectural Glass 24% Industrial Glass 12% Glassware 12% Glass Packaging 23% Chemicals 22% Energy 5% Other 2% End markets ⚫ Synergies across operating segments ⚫ Proprietary infrastructure producing energy and raw materials that partially satisfies group needs ⚫ Centralization of many functions (procurement, R&D) provide cost optimization opportunities ⚫ Balanced revenue composition between cyclical and defensive markets ⚫ Products are distributed across 150 countries through highly experienced sales and marketing teams, supported by sales offices in overseas markets as well Manufacturing (Architectural Glass, Glass Packaging, Glassware, Industrial Glass) Food & Beverage Retailing Energy Feed Glass Construction Chemistry Consumer Products & Health Automotive Service Other Only global company engaged in all primary areas of glass production 1 For 9M 2025 (based on net external sales) Global sales and distribution network with high penetration across key markets
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Diversified portfolio and robust financial position enabling value creation across cycles 19 Technology leadership ⚫ Sisecam’s own Science and Technology Centre is one of the largest laboratories in Europe and includes 31 specialized laboratories ⚫ Employs 292 people, 43% of whom hold post-graduate degrees, and 16% are design experts working in specialized laboratories as of September 2025 ⚫ Continues to invest in superior product design and new production technologies to maximize efficiency ⚫ 79 patents in portfolio with 88 patent applications as of September 2025 4 1 Based on total operative capacity installed at four facilities; 2 2 cogeneration facilities located in Türkiye # of plants Installed capacity 12 Flat Glass & Architectural Glass ⚫ 4.6mn tons/year of flat glass & patterned glass 10 Glass Packaging ⚫ 3.3mn tons/year Glassware 6 ⚫ 524k tons/year ⚫ Retail presence: 49 group-owned stores in Türkiye, 2 franchises globally and an online store Energy 12 ⚫ 212MW ⚫ Electricity generation ⚫ Electricity and natural gas trading Industrial Glass 9 ⚫ 70k tons/year Glass Fiber production capacity ⚫ 8 manufacturing facilities related to automotive and encapsulation and 1 for Glass Fiber applications Chemicals 6 ⚫ ~5mn tons/year soda ash1 ⚫ 120k tons basic chromium sulphate Well invested production facilities
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE 47% 26% 15% 9% 3%Category 1 TL EUR USD RUB Other 40% 27% 20% 10% 3% Category 1 Strong financial performance … 20 5 Prudent risk management policies Strategic objective to deleverage to historically conservative levels Leverage Maintain sufficient liquidity to meet short-term funding and to finance equity portion of Capex Liquidity FX position limited to -10% to 20% of shareholder’s equity FX Position Not only a diversified relationship banks portfolio, but also access to international debt capital and loan markets at favorable rates Counterparty Limited to hedging only, no speculative trading Derivatives Balanced fixed and variable rate loan book Interest Rate Resilient Financial Standing (9M 2025) Source: Company information; Note: All financial figures are for 9M 2025, unless stated otherwise; 1Defined as EBITDA adjusted for inflation accounting affect 28% Gross profit margin TRY45bn 47% Net sales in hard currency TRY162bn Net external sales Gross profit 11% EBITDA margin TRY18bn EBITDA Cost of Sales TRY117bn TRY 12.0bn Net short FX position FX position (Other currencies TRY1.4bn)(EUR 146mn) (USD 153mn) [2.5x] Net financial debt/ Adjusted EBITDA TRY32bn Adjusted EBITDA1 21% Adjusted EBITDA margin
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE … with proactive risk management and a commitment to reducing leverage 21 ⚫ Gross financial debt was TRY159bn in 9M 2025, down from TRY164bn in 2024 ⚫ 81% of financial liabilities are in hard currencies: (23% in EUR and 58% in USD)2 ⚫ Şişecam launched the Efficiency Management Program to boost cost savings and productivity across all business lines ⚫ The company holds a healthy cash position (~50% of which in hard currencies) of TRY45bn (including current and non-current financial assets) as of 9M 2025, supporting long-term financial stability ⚫ Strategic acquisitions, such as full ownership of US soda assets, have diversified revenue and strengthened global market presence 5 TRY Mn 159,077 Gross Financial Debt1 9M 2025 [2.5x] Net Financial Debt / Adjusted EBITDA 114,055 Net Financial Debt 9M 2025 Source for CPI Data: Turkish Statistical Institute (TUIK); 1 Gross financial debt = short-term financial debt (the sum of current borrowings, current portion of long -term borrowings) and long-term financial debt (long-term borrowings; 2 Long-term liabilities include USD1.5bn Sisecam UK Notes due 2029 and 2032. As of the reporting period in accordance with the cross -currency swaps, made in Q2 2024, Q1 2025, and Q2 2025 on Sisecam UK Notes due 2029 and 2032; 69% of those liabilities were converted to EUR, 10% to TRY, while the remaining 21% was kept in USD. USD 80% EUR 15% TRY 5% Structure of Gross Debt USD 29% EUR 33% TRY 36% Other 2% 70,152 88,925 9M 2025 Short Term Long Term 159,077 44% 56% ⚫ Capital allocation remains flexible; there is no current buyback program, and investments are managed with discipline ⚫ Ongoing operational efficiency is expected to improve EBITDA and further reduce leverage ⚫ Energy efficiency regulations, increased construction activity (including earthquake reconstruction), and anti-dumping measures on imports from Iran, China, and APAC are supporting Turkiye’s sales ⚫ Turkiye’s CPI dropped from 65% at year-end 2023 to 31% at year-end 2025 ⚫ 60% of Şişecam’s total glass production volume is in Turkiye ⚫ Dividend payments are managed flexibly, considering past operational and financial performance and future investment plans
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Highly experienced management team supported by blue chip shareholders 22 LONG-TERM STABLE SHAREHOLDERS ⚫ Founded in 1935 by Işbank at the directive of Atatürk, the founder and the first President of the Republic of Türkiye ⚫Işbank is the largest non-state owned bank by asset size in Türkiye EXECUTIVE BOARD 2% 53% Free float 45% 6 1 Includes shares held by Efes Holding A.Ş. and Anadolu Hayat Emeklilik A.Ş. in addition to the publicly traded part of Şişecam Shareholder since 1935 1 Şengül Arslan CHRO Appointed Jul-2021 28 years of experience Burak Büyükfırat CRTDO Appointed Feb-2024 33 years of experience Beytullah Şahin CPO Appointed Mar-2024 30 years of experience Can Yücel CEO Appointed May-2025 26 years of experience Prior experience Gökhan Güralp CFO Appointed Jul-2021 26 years of experience Başar Tırpancı CSMO Appointed Sep-2025 20 years of experience Gökhan Kıpçak CIO Appointed May-2019 38 years of experience Ali Tolga Ünal CSO Appointed Feb-2025 28 years of experience Hakan Çopur CSCO Appointed Sep-2025 24 years of experience Prior experience Prior experience Prior experience Prior experience Prior experience Prior experience Prior experience Prior experience
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Key financials 04
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Important notice for inflation accounting (IAS 29) 24 ⚫Türkiye has economic conditions that require reporting entities in the country to follow the methodology set out in International Accounting Standards (“IAS”) - 29 “Financial Reporting in Hyperinflationary Economies” ⚫Pursuant to the decision dated December 12, 2023, and numbered 10744 by the BRSA, banks, financial leasing, factoring, financing, savings financing, and asset management companies are not subject to inflation adjustments required under TAS-29 in their financial statements as of December 31, 2023 ⚫IAS 29 requires the financial statements of any entity whose functional currency is the currency of a hyperinflationary economy to be restated for changes in the general purchasing power of that currency. Comparative figures for prior period(s) should be restated into the same current measuring unit ⚫According to IAS 29.3, hyperinflation is indicated by the characteristics of an economy, which include but are not limited to the following: ⚫The cumulative inflation rate over three years is approaching, or exceeds, 100 percent ⚫The general population prefers to keep its wealth in non-monetary assets or in a relatively stable foreign currency ⚫The general population regards monetary amounts in terms of a relatively stable foreign currency ⚫Pricing of credit compensates for the expected loss of purchasing power, even in short credit periods ⚫Interest rates, wages and prices are linked to a price index ⚫Pursuant to the Capital Markets Board Decision dated December 28, 2023 and numbered 81/1820, Şişecam is subject to IAS 29 inflationary accounting provisions, starting from its 2023 year-end earnings disclosure. Thus, 9M 2025 and comparative 9M 2024 financial results, stated in this presentation, contain Şişecam’s audited financial information prepared according to Turkish Financial Reporting Standards by application of IAS-29 inflation accounting provisions and financial figures expressed in terms of purchasing power of TRY on September 30, 2025 ⚫Non-monetary assets and liabilities are restated ⚫Non-monetary items carried at current value are not restated ⚫Monetary items (ie cash, financial assets) are not subject to indexation and thus not restated ⚫All items in P&L are expressed by monthly indexation through consumer price index from the dates when the incomes and expenses accounted and up until the reporting date. Cost of goods sold, depreciation, and deferred tax items are subject to recalculation based on respective restated B/S items ⚫ Application of IAS-29 inflationary accounting provisions of Şişecam’s financial figures is expected to continue until Türkiye’s economic conditions no longer meet the above stated IAS 29 criteria.
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Adjusted EBITDA Breakdown 25 ADJUSTED EBITDA BUILD-UP FOR 9M2025 OVERVIEW OF ADJUSTED EBITDA ⚫ The inflationary accounting principles currently applied to our financials have a materially negative impact on the Company's reported performance ⚫ Considering Sisecam's international operations and the disparity between the inflation rate and the depreciation of the Turkish Lira against a basket of hard currencies, Sisecam’s a comparison between YoY revenues may not fully reflect the underlying operational performance in real terms. In addition, with production concentrated in Turkey, and under a high-inflation environment, the impact on costs is evident through increased direct labor expenses and elevated production overheads. Inflationary accounting practices led to inflated inventory values, amplifying the inflationary impact on costs. Prolonged inventory turnover further intensified the cost of goods sold, compounded by the application of IAS 29 ⚫ EBITDA is defined as profit before interest, depreciation and tax, in line with IFRS accounts including the relevant IAS 29 inflation adjustments ⚫ In order to demonstrate the underlying performance of the Group excluding the impact of inflation accounting, Adjusted EBITDA is defined as EBITDA adjusted for inflation accounting effect, through the elimination of monetary gain/loss impact on P&L items (namely on arising from IAS 29) 5,614 18,244 32,260 12,631 (5,749) 12,967 3,044 14 3,740 Operating profit before financial income and expenses D&A EBITDA Revenue Cost of sales Operating expenses Other income/expense from operating activities Investment activity income/expenses Adjusted EBITDA Inflation accounting effect on EBITDA TRYmn
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Net sales and EBITDA development (inflation adjusted per IAS 29) 26 Total net sales (TRY bn) Note: Financial data is presented in terms of purchasing power of TRY as at September 30th, 2025 in line with inflation accounting basis 1Defined as Total net sales adjusted for inflation accounting affect; 2Defined as EBITDA adjusted for inflation accounting affect; 3Includes USD and EUR EBITDA (TRY bn) Key comments Revenue: ⚫ Varying segment-based performances and the discrepancy between inflation rate and the reporting currency depreciation were the main factors of the YoY total net sales decline in 9M 2025 ⚫ 40% of 9M 2024 total net sales came from foreign operations, but for comparison, total net sales was indexed to September 30, 2025 with a 33% annual inflation rate under IAS-29, regardless of origin ⚫ The Turkish Lira depreciated by 21% against the basket currency3 during the same period ⚫ Display of comparative results of corporates with international production and sales footprint solely based on the reporting currency inflation rate to reflect the change in purchasing power tends to distort historical outcomes. ⚫ The Group’s operations portfolio remained well-balanced, with glass operations contributing to approximately two-thirds of total revenue Profitability: ⚫ Strong commitment was maintained toward enhancing productivity, prioritizing value-added products, and implementing capacity management initiatives ⚫ Increased production efficiency reduced operational costs, and more effective resource utilization boosted profitability 309 275 233 182 162 292 252 221 174 157 2022 2023 2024 9M 2024 9M 2025 Total Net Sales Adjusted Net Sales1 80 57 17 15 18 90 68 39 26 32 31% 27% 18% 15% 21% 2022 2023 2024 9M 2024 9M 2025 EBITDA Adjusted EBITDA2 Adjusted EBITDA Margin
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Segmental net sales and EBITDA bridges (1/2) Industrial Glass (TRY mn) Glassware (TRY mn) Architectural Glass (TRY mn) 12% 23% 2% -4% -1% 9M 2024 Volume effect Pricing, product mix, currency effect 9M 2025 22,396 18,784 -16% -20% +4% 9M 2024 Volume effect Pricing, product mix, currency effect 9M 2025 39,537 38,402 -3% -4%+1% 9M 2024 Volume effect Pricing, product mix, currency effect 9M 2025 19,386 20,012 +3% +11%-8% -6% Note: 9M 2024 and 9M 2025 financial data is presented in terms of purchasing power of TRY as at September 30th, 2025 in line with inflation accounting basis; All net sales figures showing net external sales 27 17% 27% -2% 15% 11% 12% ------- Adjusted EBITDA margin EBITDA margin
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Segmental net sales and EBITDA bridges (2/2) 28 Chemicals (TRY mn) 17% 13% 9M 2024 Volume effect 9M 2025 42,760 35,215 -18% -10% -8% Pricing, product mix, currency effect Note: 9M 2024 and 9M 2025 financial data is presented in terms of purchasing power of TRY as at September 30th, 2025 in line with inflation accounting basis; All net sales figures showing net external sales Glass Packaging (TRY mn) 9% 16% 9M 2024 Volume effect Pricing, product mix, currency effect 9M 2025 36,646 37,490 +2% 0%+2% 20% 15% 18% 22% ------- Adjusted EBITDA margin EBITDA margin
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE FCF and capex 29 Architectural Glass 43% Industrial Glass 2% Glassware 6% Glass Packaging 32% Chemicals 9% Other 8% Capex Breakdown (9M 2025) ⚫ In 9M 2024 and 9M 2025, cash flow from operating activities improved from TRY 17bn to TRY 29bn, mainly driven by higher non-cash adjustments ⚫ Cash outflow from investing activities stood at TRY 23bn given TRY 13bn cash payment for the acquisition of 40% partnership shares in Sisecam Chemicals Resources LLC and Pacific Soda LLC. Additionally, CapEx recorded at TRY 23bn compared to TRY 25bn in the prior period ⚫ Cash outflow from financing activities recorded at TRY 16bn, given the high base due to Sisecam UK Eurobond issuances, as well as management of the operations with lower external financing ⚫ The period-end cash position came in at TRY 42bn compared to the beginning balance of TRY 67bn, enabling a robust cash flow generation from core operations to support Sisecam’s capital expenditure requirements FCF highlights ⚫ In 9M 2025, capital expenditures for various segments were: ⚫ Architectural Glass segment, mainly in relation to greenfield flat glass facility and furnace as well as the new patterned glass furnace investments in Tarsus, Türkiye corresponded to 43% of total capex for the period ⚫ Glass Packaging business line, mainly in relation to greenfield investment in Hungary and payments made in relation to cold repair processes in Türkiye and Georgia in 9M 2025 corresponded to 32% of Sisecam’s total capex ⚫ Chemicals segment, mainly in relation to operational efficiency and maintenance investments in Mersin, Türkiye and Wyoming, US plants corresponded to 9% of the total capex ⚫ The remaining balance was related to maintenance expenses of the Industrial Glass, Glassware, Energy and Other segments. Sustainability focused renewable energy investments were also carried out across the Group as part of 2030 sustainability goals Capex scope1 Note: Financial data is presented in terms of purchasing power of TRY as at September 30th, 2025 in line with inflation accounting basis TRY mn 2022 2023 2024 9M 2024 9M 2025 CF from operating activities 37,851 68,378 36,945 16,682 28,982 CF from investing activities (19,928) (37,326) (23,619) (12,677) (23,328) CF from financing activities 7,784 (15,476) 4,301 28,337 (15,789) Net change in cash and cash equivalents before currency translation 25,707 15,576 17,627 32,342 (10,135) Currency translation effect on cash and cash equivalents 11,324 7,079 2,322 384 (1,194) Net change in cash and cash equivalents 37,031 22,655 19,949 32,725 (11,329) Cash and cash equivalents at period start 62,853 75,317 68,359 68,359 67,290 Inflation effect on cash and cash equivalents (24,568) (29,612) (21,018) (18,049) (13,645) Cash and cash equivalents at period end 75,317 68,359 67,290 83,036 42,315
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Leverage evolution and financial policy summary 30 KEY FINANCIAL POLICY ⚫ A diversified relationship banks portfolio complemented by access to international debt capital and loan markets at favorable rates ⚫ Management of Group borrowings mix in accordance with functional currencies of operating companies in order to mitigate the currency risk ⚫ Maintenance of sufficient liquidity to cover the short-term debt and finance equity portion of capex – in the meantime, liquidity reserves are built up at Sisecam UK PLC level ⚫ Conservative approach to distributions – Şişecam is flexible to manage its distributions considering previous year's operational and financial performance together with its investment plans 1 Capex/Revenue no.s are inflation adjusted; Capex/revenue is calculated as Purchase of property, plant, equipment and intangible assets / total revenue LEVERAGE AND CAPEX “INTENSITY” EVOLUTION1 0.6x 1.0x 2.3x 2.5x 8% 14% 16% 14% 2022 2023 2024 9M 2025 Net Financial Debt/ Adjusted EBITDA CAPEX/Revenue
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Appendix 05
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Şişecam production facilities 32 1. JV with St Gobain in Russia & Egypt for flat glass operations 2. Production JV with Solvay in Bulgaria for chemicals operations 3. Ongoing greenfield investment announced in 2021 4. Two cogeneration facilities located in Türkiye 5. Oxyvit – Vitamin K and SMBS production facilities and Offset Packaging Plant 6. Refel S.p.A. 7. Stockton Port Management - Port operation investment Flatglass / Architectural Glass Industrial Glass Glassware Glass Packaging Chemicals Energy OtherAuto Glass Encapsulation Glass Fiber Soda Chemicals Chromium Chemicals Port Management 5 Plants 1 Plant 1 Plant 3 Plants 3 Plants 1 Plant 1 Plant 1 Plant4 2 Plants5 1 Plant 1 Plant 1 Plant 1 Plant2 2 Plants 1 Plant 1 Plant6 2 Plants 1 Plant 1 Plant 1 Plant 1 Plant3 1 Plant 1 Plant1 1 Plant 1 Plant 5 Plants 1 Plant 2 Plants1 1 Plant 1 Plant 1 Plant 1 Project7 Total 12 Plants 4 Plants 4 Plants 1 Plant 6 Plants 10 Plants 4 Plants 2 Plants 1 Project 1 Plant 3 Plants
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE 59% 38% 3% Glass Packaging Türkiye Russia Georgia Installed gross capacities 33 524k tons/year 4.6mn tons/year 3.3mn tons/year 5mn tons/year Other Product Range reported under Chromium Chemicals (k tons) Chromic Acid, Türkiye 25 Powder BCS, Italy 8.8 BCS, Türkiye 120 Sodium Dichromate, Türkiye 105 Auto Glass Plants Türkiye, Russia, Romania, Bulgaria Encapsulation Plants Slovakia Hungary Germany (x2) 1 Soda ash & sodium bicarbonate; Excl. Pacific Project & capacity addition in Mersin: Pacific & Atlantic mines (total capacities; soda ash 5mn tons/year, sodium bicarbonate 400K tons/year) to be developed and taken online gradually and the capacity increase project of 175K tons/year at Mersin soda ash plant 61% 6% 11% 10% 5% 7% Flat Glass Türkiye Russia Bulgaria Italy India Egypt 62%14% 14% 10% Glassware Türkiye Russia Bulgaria Egypt 30% 12% 8% 50% Soda Ash1 Türkiye Bosnia Bulgaria USA
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE 46% 47% 54% 53% 9% 0% 9M 2024 9M 2025 Regional Glass production Historical breakdown of production & sales - Glass 341 International: Sales from Non-Türkiye Facilities + Exports from Türkiye-based facilities Regional Glass sales Segmental Glass sales 46% 54% 53% Segmental Glass production 5,227 5,781 EnergyGlass Packaging Architectural Glass GlasswareIndustrial Glass OtherChemicals 1 5,781 5,227 5,634 4,214 4,248 5,634 4,214 4,248 46% 47% 54% 53% K tons 1 46% 46% 47% 54% 54% 53% -3% -7% 9% 2022 2023 2024 Domestic International Change 58% 59% 60% 42% 41% 40% 3% -10% 8% 2022 2023 2024 Domestic International Change 52% 49% 49% 6% 6% 6% 41% 44% 44% 1% 1% 1% 3% -10% 8% 2022 2023 2024 Flat Glass Glassware Glass Packaging Glass Fiber Change 58% 59% 42% 41% 9% 1% 9M 2024 9M 2025 49% 50% 6% 4% 44% 45% 1% 1% 9% 1% 9M 2024 9M 2025 47% 47% 6% 5% 45% 46% 3% 2% 9% 0% 9M 2024 9M 2025 49% 46% 47% 6% 7% 6% 42% 44% 44% 3% 3% 3% -3% -7% 9% 2022 2023 2024 Architectural Glass Glassware Glass Packaging Industrial Glass Change
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Historical breakdown of production & sales - Chemicals 351 International: Sales from Non-Türkiye Facilities + Exports from Türkiye-based facilities Soda Ash production Chromium Chemicals sales Soda Ash sales 1 1 K tons 1 32% 33% 68% 67% 1% -6% 9M 2024 9M 2025 30% 31% 33% 70% 69% 67% 108% -4% -2% 2022 2023 2024 Domestic International Change 12% 13% 88% 87% 2% -7% 9M 2024 9M 2025 12% 10% 12% 88% 90% 88% 99% 0% -2% 2022 2023 2024 Domestic International Change 12% 12% 88% 88% 37% -16% 9M 2024 9M 2025 16% 16% 12% 84% 84% 88% -22% -6% 24% 2022 2023 2024 Domestic International Change
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Summary financial statements (inflation adjusted per IAS 29) 36 Summary income statement (TRY mn) 2022 2023 2024 9M 2024 9M 2025 Change1 Net sales 309,045 275,252 232,785 181,696 162,278 (11%) Cost of sales (210,383) (199,529) (180,073) (140,127) (117,175) (16%) Gross profit 98,662 75,723 52,712 41,569 45,102 8% General and administrative (15,685) (17,911) (19,192) (14,190) (14,895) 5% Marketing expenses (42,439) (38,294) (37,540) (28,984) (26,436) (9%) Research and development expenses (1,059) (888) (1,336) (1,142) (1,165) 2% Other operating income (expense), net 4,305 7,554 2,090 998 1,344 35% Share of profit/(loss) from investments accounted for using equity method 1,053 1,977 743 1,474 575 (61%) Income (expense) from investing activities, net 13,708 9,905 1,045 876 1,051 20% Impairment gain and reversal of impairment loss determined in accordance with TFRS 9 (201) 19 (9) (61) 37 (160%) Profit/(Loss) before financing income (expense) (EBIT) 58,344 38,085 (1,486) 539 5,614 941% Adjusted EBITDA 90,125 68,457 39,374 26,464 32,260 22% EBITDA 79,769 56,685 17,443 14,908 18,244 22% Financial income (expense), net (9,917) (2,971) (14,348) (9,754) (15,958) 64% Gains /(Losses) on net monetary position (2,141) 7,617 19,882 16,881 19,261 14% Profit from continuing operations, before tax 46,286 42,730 4,048 7,666 8,917 16% Tax income (expense), continuing operations (2,975) (8,276) 2,528 964 (3,260) (438%) Profit from continuing operations 43,311 34,454 6,576 8,630 5,657 (34%) Equity holders of the parent 40,967 31,092 6,300 8,149 5,743 (30%) Non-controlling interest 2,344 3,362 276 481 (86) (118%) Note: All financial data is presented in terms of purchasing power of TRYas at September 30th, 2025 in line with inflation accounting basis 1Change calculated between 9M 2025 and 9M 2024
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE Summary financial statements (inflation adjusted per IAS 29) 37 Summary balance sheet (TRY mn) 2022 2023 2024 9M 2025 Change4 Total assets 523,600 527,605 500,500 479,492 (4%) Cash & cash equivalents 75,329 68,381 67,305 42,353 (37%) Financial investments & derivative financial assets 20,087 18,172 9,458 4,535 (52%) Trade receivables 59,202 49,747 32,734 34,693 6% Inventories 62,316 59,597 53,277 50,525 (5%) Investments accounted for using the equity method 5,644 6,979 4,877 6,165 26% Property, plant and equipment 189,744 211,229 218,410 227,315 4% Right of use assets1 3,379 4,636 3,804 3,959 4% Investment property 16,568 19,838 19,933 21,844 10% Intangible assets 66,816 64,045 61,217 60,204 (2%) Current tax & deferred tax assets1 3,022 3,437 7,426 9,865 33% Other 2 21,492 21,543 22,058 18,035 (18%) Total liabilities 210,294 225,664 239,467 223,670 (7%) Borrowings & derivatives1 140,881 156,708 164,853 165,577 0% Trade payables 33,813 30,645 30,466 24,031 (21%) Employee benefit obligations 1,651 1,778 1,956 1,517 (22%) Current tax & deferred tax liabilities 6,476 10,279 9,680 10,602 10% Provisions 15,538 13,815 11,257 13,221 17% Other3 11,936 12,438 21,256 8,721 (59%) Equity1 313,307 301,941 261,033 255,822 (2%) Equity holders of the parent 257,795 257,081 233,383 229,735 (2%) Non-controlling interests 55,511 44,860 27,649 26,087 (6%) Note: All financial data is presented in terms of purchasing power of TRY at September 30th 2025 in line with inflation accounting basis 1 Includes impacts of change in IFRS-16; 2 Other receivables, prepaid expenses, other current & non-current assets; 3 Other payables, deferred income, other current and non-current liabilities 4Change calculated between 9M 2025 and 2024
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COLOR PALETTE Text 70 70 70 Title bar/Bullets 230 52 77 ACCENTS 1 2 9 103 96 107 252 2 67 206 255 180 235 255 3 150 184 223 213 227 242 4 1 153 208 135 223 254 5 191 191 191 229 229 229 6 230 52 77 245 174 184 Hyperlink 160 80 36 232 181 152 Followed Hyperlink 254 192 55 255 230 175 Lines 70 70 70 Highlights 230 52 77 TABLE FX rates 38 USD/TRY 2022 2023 2024 9M 2024 9M 2025 Period end 18.70 29.44 35.28 34.12 41.51 Period average 16.58 23.80 32.83 32.26 38.58 EUR/TRY Period end 19.93 32.57 36.74 38.17 48.75 Period average 17.39 25.74 35.52 35.08 43.25