FUEL TRANSPORTATION. Tolga ALİKAYA Land Transport Manager. May 10, 2010

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1 FUEL TRANSPORTATION Tolga ALİKAYA Land Transport Manager May 10, 2010

2 Table of Contents Introduction Turkish Energy Sector Company Overview Business Lines Future Story Sales Analysis Financial Overview Transportation Maritime Transportation Land Transportation Pipelines 2

3 A New Playing Field Deregulation and Price Liberalization New Petroleum Market Law Increasingly Controlled Environment New Rules New Playing Field Obligation to hold a license Import liberalization National marker Rental & Usufructs agreements restricted with 5 years by Competition Board Fully accredited laboratories Station automation 20 day national stock obligation Vertical integration is allowed Increased levels of competition triggering consolidation Number of players increased from 21 as of YE04 to 52 as of 1Q10* Illegal fuel trading has considerably diminished The sector as a whole became more conscious of legal obligations Compliance had to be placed on the top of the agenda Market share of a distributor < 40% The leader of the sector took the lead in the new playing field Petrol Ofisi supported the new regulation from day one The Company was constantly in dialogue with the regulatory bodies communicating the difficulties and the problems the sector was coping with 3

4 Market Snapshot REFINER 1 refiner 4 refineries mio tons of crude processed, 60.4% CUR* mio tons of production* mio tons of total sales domestic 3.32 export * DISTRIBUTOR 52** distributors Top 5 accounting for 85% of the market 4.2 mio m 3 of storage capacity stations 12,714** stations Dealer owned Dealer operated No white flags Dealer contracts recently limited down to 5 years PRICING 66% of the gasoline pump price is composed of tax (SCT+VAT) Adjusted in line with refinery prices & currency fluctuations Gasoline USD 2.52 / lt Diesel USD 2.07 / lt TUPRAS Datas belongs to 2009 and will be update after May 15th ** PETDER Sector Report 4

5 Best Player in the New Playing Field - Widest Network, Highest Market Shares Leading Energy Force Owing to its Extensive Distribution Network, Innovative Product Offerings and High Quality Service Diesel Market Share 76% 59% 29% 28.3% 27.9% Gasoline Market Share 69% 46% 20% 24.2% 23.5% Number of Distribution Co PO Sales Volume * 6.86 mio tons of fuel products 8.25 mio tons of fuel products 6.51 mio tons of fuel products 6.16 mio tons of fuel products 5.16 mio tons of fuel products Number of PO Stations n.a. 5,424 4,500 3,223 3,008 Source: GDPA for , Petroleum Industry Association for 2008 and 2009 * Gasoline + Gasoil + Kerosene+ Black Products 5

6 Table of Contents Introduction Turkish Energy Sector Company Overview Business Lines Future Story Sales Analysis Financial Overview Transportation Maritime Transportation Land Transportation Pipelines 6

7 Turkey, a Gateway to the Major Global Sources of Energy A bridge between east and west, connecting the leading energy suppliers and consumers Oil Pipelines Kirkuk Ceyhan Iraq s largest export line 50 million tons capacity per annum Baku Tbilisi Ceyhan Decreasing transportation and financial costs 50 million tons capacity per annum Ünye Ceyhan Ceyhan to become energy hub with new refineries and pipelines 70 million tons capacity per annum Natural Gas Pipelines Nabucco Major alternative route for gas to EU to be partially operational by 2013 with an initial pipeline capacity up to 8 bcm Construction will end in 2017, when the maximum capacity will reach 31 bcmy Turkey Greece Italy Turkey Greece part became operational in December 2007 Undersea link between Italy and Greece will be ready by 2012 Estimated capacity: 13 bcm per annum 7

8 Energy Sector: Changing Composition of Consumption Considerable increase in oil demand Turkish Primary Energy Consumption (mio ton) 30 Oil Demand (mio ton) Oil Gas Coal Hydro Turkish primary energy consumption reached mio tons with 1.48% increase in 2008 Natural gas had the leading share in energy consumption in 2008 with 32.4%, followed by oil with 32.3% and by coal with 30.4% share In 2008, oil consumption rose by 5.9% while natural gas consumption increased by 2.5% CAGR of oil consumption for the period has been 2.5% compared to 21.38% CAGR of natural gas Source: BP Statistical Review of World Energy

9 Market Dynamics Contraction in demand due to economic crisis Gasoil (mio m 3 ) CAGR: 3.9 % Gasoline + Auto LPG** (mio m 3 ) CAGR: (0.7) % (5.9) % (0.3) % Q09 1Q Q09 1Q10 Black Products (mio ton) Jet Fuel* (mio m 3 ) 5.5 % CAGR: (10.7) % (65.4) % CAGR: 5.98 % Q09 1Q Source: Petroleum Industry Association for Gasoline, Diesel, Black Products and LPG Association for Auto-LPG Company estimate between , starting from 2009, the Company can no longer provide market information with respect to jet fuel sales, ** PETDER's Jan,Feb data 9

10 Market Volume Composition Economic slowdown took its toll on fuel consumption, whereby market volume has shrunk by 15% in Q1/2010 1Q09 1Q10 2,878,874 (4.6) % Gasoil 2,747, ,049 (65.4) % Black Products 292, , % Auto LPG 332, ,439 (8.5) % Gasoline 446,714 Gasoline 11% 12% Auto LPG 7% 9% 63% 71% 8% Gasoil 19% 4.52 mio tons 3.82 mio tons Black Products Source: Petroleum Industry Association for Gasoline, Diesel, Black Products and PETDER for Auto-LPG 10

11 Petrol Ofisi Leading the Market Black Products Gasoil Gasoline Auto-LPG * 46.9% 26.4% 22.8% 15.2% 53.1% 73.6% 77.2% 84.8% Others Others Others Others Source: Petroleum Industry Association * PETDER's Jan,Feb data 11

12 Table of Contents Introduction Turkish Energy Sector Company Overview Business Lines Future Story Sales Analysis Financial Overview 12

13 Company History FOUNDATION Established in 1941 as a State Economic Enterprise PRIVATISATION SPO PRIVATISATION MERGER TENDER OFFER PRIVATE PLACEMENT SHAREHOLDER STRUCTURE TENDER OFFER PRIVATE PLACEMENT Taken into Privatization Program in % of PO shares acquired by IsDogan Petroleum Investments Inc. for US$ 1.26 billion in July % of total shares owned by PA were publicly offered and privatized as of March 2002 In July 2002, the remaining 25.83% shares held by PA were sold to IsDogan, which already owned 51% of the Company IsDogan, owner of 82% of PO shares, merged with PO in December 2002 In November - December 2002, IsDogan increased its share to 96.3% through a tender offer In December 2002, 14% of the shares were transferred to Isbank and Dogan Holding 6.7% of PO shares were sold to institutional investors in February 2005 Isbank s PO shares (44.1%) were acquired by Dogan Holding in September 2005 A tender offer was carried out by Dogan Holding between October 14 31, % of PO shares were sold to institutional investors in January 2006 Free float after the tender is %13.3 STRATEGIC PARTNERSHIP 34% of shares were sold to OMV in March 2006 MCAP As of March 31 th, 2010, Petrol Ofisi s MCAP is US$2.46 billion 13

14 Shareholder Structure One of the top 3 conglomerates in Turkey and a leading media group 54.17% after support purchases Free Float Austria s largest listed industrial company and a leading oil and gas group in Central Europe 41.58% after support purchases 52.7% 13.3% 34.0% 4 BoD members 4 BoD members Erk Petrol 99.96% PO Arama Üretim 99.96% Marmara Depoculuk % KIPET 52.00% PO Alternatif Yakıtlar 99.89% PO Gaz İletim 99.75% PO Akdeniz Rafinerisi 99.99% Fuel Marketing E&P Storage Facility Fuel Marketing LNG Marketing LNG Transport Refining 14

15 Table of Contents Introduction Turkish Energy Sector Company Overview Business Lines Future Story Sales Analysis Financial Overview Transportation Maritime Transportation Land Transportation Pipelines 15

16 Business Lines 53% of diesel imported in 1Q10 Largest Storage Capacity Largest Network 26.75% share in the Black Sea Natural Gas Project Supply m 3 Retail in stations Logistics 1,215,000 m 3 1,532 m 3 avg. throughput C&I State Companies Private Companies Local TUPRAS Imports Russia, Greece, Malta and Tunisia DDS Direct Delivery System 12 Terminals (10 fuel, 2 LPG) Others #1 in Aviation Marine Lubricants Products 16

17 Accounting for 23%* of Turkey s Petroleum Product Storage Capacity Petrol Ofisi has the strongest logistics network in Turkey 12 terminals (including 2 LPG terminals) m 3 Large capacity gives the Company the flexibility to; Distribute products more efficiently than competition Access multiple sources of supply Easily manage the national stock liability Import higher percentage of products than competition Why import? CIF vs. FOB differential freight advantage Lower product premiums More competitive payment terms Tax float benefit All terminal laboratories are accredited by Turkish Accreditation Agency Currently 9 PO terminals are certified for running the mandatory EMRA Group II fuel tests, marking a first for a Turkish distribution company Supply Department successfully protects the stock value against the price volatility in global markets by optimizing potential market risks within VaR limits Haramidere Aliağa (2) Derince Antalya Kırıkkale Aksaray Mersin Samsun İskenderun Trabzon Batman* New Investment: Marmara Storage Facilities The new Marmara Ereğli Terminal will have a storage capacity of 225,000 m 3 The terminal will have access to Marmara Sea which will enable PO to import gasoil via 50,000 DWT vessels and increase its import capacity Yearly additional import volume of 1,000,000 m.tons will be generated which will bring PO additional import advantage The construction of the terminal will be completed by end of 2011 * According to EMRA, total storage capacity figure is 4,197,189 m 3 for Turkey 17

18 DDS for Quality Assurance and LPG Transportation DDS (Direct Delivery System) Petrol Ofisi has launched DDS in 2002, to maximize product quality DDS utilizes a dedicated latest technology fleet of 140 subcontracted road tankers in the distribution of products. LPG distribution is carried out with a dedicated fleet consisting of 151 leased / subcontracted road tankers to 1,178 stations. LNG distribution is carried out with a dedicated fleet consisting of 35 leased/subcontracted cryogenic road tankers to approximately 100 customers. Aviation fuels transportation is carried out with a dedicated fleet of subcontracted road tankers with special tank interior covering for fuel quality assurance. Lubricants is transported to customers in either bulk carrying tankers or trucks carrying packaged products. Transportation business is complying with ADR standards In 2010 Q1, DDS deliveries reached 90k m 3 along with auto-lpg deliveries undertaken by PO to supply PO/gaz stations, amounting to 80k tons. 15k tons of LNG is delivered to commercial customers. C&I customer deliveries reached to 17k tons and 17k lubricants is transported to dealers and customers. 18

19 Retail Only Company with Nationwide Coverage Turkey s largest nationwide network 2,972 stations as of March 2010 Number of Stations* March , ,393 v 1,208 Network Rationalization - Divesting stations with low throughput and efficiency and investing in new stations in Preferred Market Areas with high throughput and high potential to; Generate higher throughput Increase efficiency Improve flexibility in adapting to changes in the market Increase presence in 3 big cities Average annual throughput has more than doubled since year-end 2000, reaching 1,532 m Others** 1,792 * EMRA ( ) for Opet, Shell-Turcas, BP, Total and for Others and PO for PO and Erk ** Others include Akpet, Lukoil, Moil, Alpet, Petline 19

20 Operational Excellence in Retail Customer Focused Approach Customer Value Proposition Placing customer in the core of operations High quality products and services At well located and well designed convenient stations with appealing physical conditions With an optimum shop and clean restroom Via well trained, friendly site staff that are committed to deliver all To ensure that you and your vehicle can get back on the road rewarded for your loyalty to PO How to differentiate? Provide PO customers with high quality products Innovative Product Development Investing in technology Provide PO customers with high quality service Reinforcing the sales force Implementing operational improvement projects Continuous training for dealers and station personnel Completing the automation of stations through the employment of state-of-the-art technology Offer a loyalty program which is both very widespread and has a differentiating CVP Rewarding loyalty in line with customer segmentation All that PO invests in its customers be it through the utilization of technology, people or the Company s innovative spirit will translate into more satisfied customers, higher volumes and higher profitability. Utilizing technology and creative power Invest in Petrol Ofisi Brand 20

21 Retail Volume Enablers NTI/NTPO Projects Network growth by opening or transferring new stations Each year there are 200 Greenfield investments and 200 station transfers in the market CR Projects Network Growth Contract renewals: Each year contracts of 200 PO stations are up for renewal The sales performance of the station, the location, the relationship with the dealer are taken into consideration when allocating the CR budget In March 2009, the Competition Board decided to limit the duration of all usufruct contracts by 5 years. Contracts signed prior to 2005 will benefit from the exemption until Contracts signed after will benefit from the exemption for the first five years. The new decree will lead to significant revisions in investment plans of distribution companies and thereby the NTI/NTPO and CR statistics displayed above Operational Improvements Site improvement projects to capture the upside volume potential of the existing stations; Hardware Improvements Toilets, lighting, landscaping, visuals, car-wash and air/water, lube changing units Software Improvements Improvements that don t require additional CAPEX Training of station personnel Localized campaigns/promotions Optimum utilization of the site Site Operations Development Program Territory Trainers are allocated to each site for a week to train station staff Marketing Activities Fuel Differentiation New Generation V/Max Eurodiesel Launched Feb 2010 Provides the Highest Level of Fuel Economy (save up to 4 litres of fuel in 100 litres) V/Max Performance Series Launched in Sep 2007 Positive effect on pump sales by increasing high income / high mileage customers Low Sulphur Diesel 10ppm PO was the 1 st in the market to offer it in Dec st mover advantage Positive Card Launched in Jan 2008 Broadest customer commitment program in Turkey Payment and loyalty card in 1 Convenience of paying for fuel without leaving the vehicle Over 2,4 million members! 21

22 LPG - Growing Business Line Turkey s largest Auto-LPG network Petrol Ofisi is currently operating auto-lpg business through 2 channels: PO/gaz (PO Brand) and Contracted stations. The national distribution licence was granted in March 2007 and in line with the licence PO launched its new brand, PO/gaz in order to create higher earnings on auto-lpg sales. Within the scope of the national distributor license requirements, Petrol Ofisi has 2 filling facilities; Aksaray and Aliağa 2 LPG terminals with a total capacity of 50,000m 3 will become operational in 2012, enabling LPG procurement through imports to achieve higher supply margins As of March 2010, there are 1,345 PO/gaz and 156 Contracted stations. Conversion of contracted sites to PO/gaz is still continuing. As of March 2010, sales volume has reached to 79,310 tons in PO/gaz and tons in Contracted stations with a total of tons. * Source: Energy Market Regulatory Authority as of YE09 22

23 C&I - Fuelling the Energy that Turkish Industry Needs and Relies on Turkey s biggest single B2P, B2B and B2D fuel distributor Nationwide presence, established infrastructure, logistics capability & long-term business relationships Commercial and Industrial (C&I) customers are defined under 3 separate categories State-owned entities, military institutions and municipalities Private companies in industry, agriculture, transport, logistics and construction Sub-distributors who supply commercial customers with an annual consumption of less than 5,000 tons that distribution companies can t supply by law C&I sales are comprised mostly of jet fuel, gasoil and black product. 23

24 Land, Air & Sea No Boundaries for Petrol Ofisi Market leader with sales over 0.4 m 3 Market leader with supply throughout Turkish coast. Introduced in July 2005 and strong position as the second largest company in the market, more than 175 LNG tanks installed, more than 26 LNG tankers for transportation PO Air is present at 35 airports Customers include Turkish Airlines, all other domestic airlines as well as more than 60 international airline carriers: KLM, SAS, Lufthansa, Air France PO Air is the only company that can supply Istanbul Airport through its pipelines, lowering transportation costs En route to becoming an international player... Since 2006, PO air started supplying Turkish Airlines and other domestic carriers at international airports PO Marine is the only Turkish supplier to Own marine terminals in all seas Offer all marine fuels and lubricants Provide transit bunker services in Turkish Karadeniz, Marmara, Ege and Akdeniz Other than the 8 marine terminals along the coastlines, PO Marine operates the largest floating station network in Turkey LNG is natural gas liquid form which is stored at approximately -162ºC LNG is mainly used by commercial and industrial customers who do not have access to natural gas pipelines LNG is transported by specially designed cryogenic road tankers to customers premises and stored in specially designed cryogenic tanks In 2010, PO LNG sales volume has passed through 14.5k tons, * Company estimate 24

25 Leading Player in the Lubricants Market 24.9%* market share - 1 out of every 4 lubricants is sold by PO 2010 sales amount is 18,823 tons, including 2,776 tons of export to 17 countries Petrol Ofisi is Turkey s leading lubricant producer with total annual capacity of 140,000 tons in Derince plant PO lubricants target high technology products and gained 5% market share in multigrade engine oils in PO started producing synthetic motor oils in Derince plant in June PO is continuously optimizing its product portfolio in line with the market demand. Total number of products is 393. Petrol Ofisi Technology Centre ( POTEM ), which is established in October 2007 in Derince on an area of 1,200 m2, is accredited for 111 domestic and international tests with the capacity to perform 166 different test methods Exporting lubricants to 3 continents In 2010, PO exported 2.8k tons lubricants to 17 countries. In 2010, PO also continued production for Petrom and designated OMV markets * Source: Petroleum Industry Association as of February

26 Table of Contents Introduction Turkish Energy Sector Company Overview Business Lines Future Story Sales Analysis Financial Overview Transportation Maritime Transportation Land Transportation Pipeline 26

27 All Fuelled Up Future Backed by a strong partnership a vertically integrated market leader #1 in retail #1 in aviation #1 in marine #1 in lubricants #1 & a regional WER Supplying Turkish carriers at >100 international airports Supplying international airports Biggest marine refueler of the East Mediterranean Exporting lubricants to >30 countries 27

28 Offshore Black Sea Gas Exploration & Production A Huge First Step into Upstream, towards an Integrated Energy Company Petrol Ofisi acquired 26.75% share in the Western Black Sea USD 55 mio in January 2009 and has become the largest private partner of Turkey s largest offshore natural gas production project Project Details 8 Offshore licenses (total of 3892 Km 2 ) Integrated E&P project, including, Exploration, Development and natural gas Production through three offshore platforms TPAO is the operator with 51% share, PO is the second largest shareholder PO became the largest private offshore producer in Turkey In Q1, cumulative production is 37,493,755 scm and average daily production is 416,597 scm (Total of SASB Project) In Q1, cumulative production is 10,029,581 scm and average daily production is 111,440scm (PO shares) Investments related to Phase II continue; it is expected to be on-stream by end of 2010 and a considerable increase in production is expected. Value of SASB Project Cash generating proven and producing reserves Upside reserve growth potential New development areas and exploration potential in prospective structures Enabled to enter the upstream E&P business (assets with all in one deal) with proven reserves, ongoing production that creates a continuous cash flow and exploration blocks with possible upside reserve potential Growing, vibrant, profitable and properly regulated natural gas market 28

29 Table of Contents Introduction Turkish Energy Sector Company Overview Business Lines Future Story Sales Analysis Financial Overview Transportation Maritime Transportation Land Transortation Pipelines 29

30 1,262 1, , ,691 Sales Volume Comparison -7.3 % 16.7 % % 20.2 % % 60 % 5.4 % 1Q % 1Q tons Gasoline Auto LPG Gasoil Jet Fuel Black Products Lubricants LNG Gasoline + Auto LPG* -0.5 % White Products -3.2% Total Sales * PETDER's Jan,Feb data 30

31 Volume Composition 1Q09 1Q10 0.4% 0.7% 0.8% 9.9% 1.1% 24.2% 24.7% 16.8% Volume 48.7% 52.5% 2.6% 3.7% 6.5% 7.4% Gasoline 1.69 mio tons, 74.6% white, 24.2% black 1.38 mio tons, 88.3% white, 9.9% black Auto LPG Diesel Jet Fuel Black Products Lubricants LNG % 1.0% 0.9% 19.9% 11.9% 1.0% 18.6% 48.0% Volume 22.2% 51.2% 4.9% 5.7% 6.7% 7.1% mio tons, 78.2% white, 19.9% black 7.35 mio tons, 86.1% white, 11.9% black 31

32 Table of Contents Introduction Turkish Energy Sector Company Overview Business Lines Future Story Sales Analysis Financial Overview Transportation Maritime Transportation Land Transportation Pipelines 32

33 Performance Highlights Y-o-Y sales revenue increased by 11% to TRL 3.3 bio due to higher crude prices in 1Q10 Gross Profit decreased from TRL 266 mio to TRL 233 mio due to ongoing effect of margin cap imposed by EMRA Another quarter of successful cost management led to OPEX remaining almost flat at TRL 64.5 mio In 1Q10 EBIT decreased by 22 % from TRL 171mio to TRL 132 mio EBITDA decreased by 15% from TRL 204 mio to TRL 174 mio Gross Profit EBITDA and EBIT margins decreased by 190 bps, 170 bps and 170 bps to 7.2%, 5.3% and 4.1% respectively TRL 10.5 mio FX loss realized in 1Q10 could be considered as immaterial compared with previous year loss of TRL mio Net loss of TRL 32 mio realized in 1Q09 turned to positive (TRL 45 mio) in 1Q10 thanks to more stable FX rate in 2010 Strong cash position has been maintained with TRL1,353 mio cash level. 33

34 Strong Operating Performance Q4/09 Q1/10 Q1/09 r 10/09 in TRY mn 03m10 03m09 r 10/ % Net Sales % % Gross Profit % 5,4% 7,2% 9,1% Gross Margin % 7,2% 9,1% % EBIT % 2,8% 4,1% 5,8% EBIT Margin % 4,1% 5,8% % EBITDA % 4,1% 5,3% 7,0% EBITDA Margin % 5,3% 7,0% n.a. Net Income n.a. 0,6% 1,4% -1,1% Net Income Margin % 1,4% -1,1% 34

35 Record Margins were Once Again Overshadowed by the FX Losses TRL mio Positive effect Negative effect -28,3-1,8-8,0 125,4 12,2-3,0-0,1-13,8-5, Mainly due to ongoing effects of margin cap imposed by EMRA 25 Successful cost management Mainly due to decreased provision expenses 45, ,2 Due to high FX losses realized in 1Q09 in line with depreciation YTL Net Income 03m/09 Gross Profit Cash OPEX Depreciation FX Incomenet Other Interest Minority Cash Tax Deferred Tax Net Income Income-net Expense-net Interest 03m/10 35

36 Strong & Sustainable EBITDA Q4/09 Q1/10 Q1/09 r 10/09 in TRY mn 03m10 03m09 r 10/ % EBIT % % Depreciation % % EBITDA % EBITDA Q1/09 Q4/09 Q1/10 36

37 Net Liability Position TRL mio December 31, 2008 December 31, 2009 March 31, 2010 Liquid Assets 3,389 3,196 3,231 Cash 1,536 1,390 1,353 Inventories Trade Receivables & Other Current Assets 1,074 1,008 1,133 Liabilities 3,136 2,448 2,448 Trade Payables 2,661 2,034 2,040 Taxes Payable Other Payables* Assets/Liabilities Net Assets Total Financial Debt 984 1,418 1,302 Net Liabilities Change in Net Liabilities * Excluding deferred tax liabilities and long term provisions but including short term provisions (tax liability) 37

38 High Yield Investment Grade Our Ratings AAA AAA Sovereign July, 2004 February, 2005 BB Positive B Stable B Positive Sovereign July, 2004 June, 2005 BB+ Stable B+ Stable B+ Positive AA+ AA AA- A+ A A- BBB+ BBB BBB- AA+ AA AA- A+ A A- BBB+ BBB BBB- April, 2005 September, 2006 February, 2007 B+ Stable B+ watch neg B+ Stable March, 2006 National BB- Stable AA- (tur) BB+ BB BB- B+ B B- BB+ BB BB- B+ B B- CCC+ CCC CCC- CC C CCC+ CCC CCC- CC C D DDD 38

39 Table of Contents Introduction Turkish Energy Sector Company Overview Business Lines Future Story Sales Analysis Financial Overview Transportation Maritime Transportation Land Transportation Pipelines 39

40 Fuel Transportation Fuel Energy Market Regulatory Authority (EMRA) Transportation Ministry of Transportation 40

41 Transportation Maritime Transportation IMO (International Maritime Organization) MARPOL (International Convention for the Prevention of Pollution from Ships) ISGOTT (International Safety Guide For Oil Tankers And Terminals) Land Transportation ADR (The European Agreement concerning the International Carriage of Dangerous Goods by Road ) Pipelines 41

42 Maritime Transportation Domestic 10 vessels (CPP) + 6 vessels (DPP) ~ 75k DWT More than voyage ~ 4.000k tons of product Import 2 vessels x DWT ~ 1.000k tons of product 42

43 Maritime Transportation 43

44 Maritime Transportation 44

45 Maritime Transportation 45

46 Maritime Transportation 46

47 Maritime Transportation 47

48 Maritime Transportation 48

49 Transportation Maritime Transportation IMO (International Maritime Organization) MARPOL (International Convention for the Prevention of Pollution from Ships) ISGOTT (International Safety Guide For Oil Tankers And Terminals) Land Transportation ADR (The European Agreement concerning the International Carriage of Dangerous Goods by Road ) Pipelines 49

50 Direct Delivery System 10 Terminals More than 3k stations 140 semi-trailers Planning & optimization ~ 500k tons of delivery More than 20k trips 50

51 Direct Delivery System 51

52 Direct Delivery System 52

53 Direct Delivery System 53

54 Aviation Fuels 10 Terminals Around 35 aviation supply units Semi trailer fleet with varying size seasonally More than 600k tons of carriage Pipelines 54

55 Aviation Fuels 55

56 Aviation Fuels 56

57 LPG More than 150 tankers Local suppliers Planning & optimization Around 400k tons of carriage Nearly 25k trips 57

58 LPG 58

59 LPG 59

60 LNG Around 35 tankers POAY, POGİ Cryogenic tanks Around 80k tons of carriage Nearly 5k trips 60

61 LNG 61

62 Lubricants 1 Lubricant Factory in Derince/İzmit Bulk carrying tankers Packaged product carrying trucks Customers, retailers, distributors, terminals Not dangerous good 62

63 Lubricants 63

64 Others Wholesale Customers Commercial and Industrial Customers Public Organizations Border Stations Inter-terminal Supply Needs (Batman) 64

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