TÜRKİYE ŞİŞE VE CAM FABRİKALARI A.Ş.

Earnings Release • Aug 29, 2024

Press Release

ŞİŞECAM'S FIRST-HALF NET SALES REACHED 86 BILLION TRY

With production operations spanning 14 countries on four continents and sales in over 150 countries, Şişecam continues its global operations. In the first half of 2024, Şişecam recorded consolidated net sales of TRY 86 billion. During this period, international sales accounted for 61% of Şişecam's total sales, while the company's total investments reached TRY 11 billion and exports totaled USD 492 million.

29.08.2024 – Şişecam announced its financial results for the first half of 2024. In this period, Şişecam's consolidated net sales totaled TRY 86 billion. International sales -the sum of exports from Türkiye and sales from production outside Türkiye– accounted for 61% of consolidated sales. Şişecam's total investments amounted to TRY 11 billion, while exports from Turkiye totaled USD 492 million. During this period, the company produced 2.7 million tons of glass, 2.3 million tons of soda ash, and 1.8 million tons of industrial raw materials.

Şişecam's CEO, Görkem Elverici, commented on the global economic and sectoral outlook in relation to the company's first-half 2024 results: "2024 began with significant global economic uncertainties and geopolitical tensions, which continued into the second quarter. The monetary policy measures implemented to control persistent high price levels globally had a considerable impact on the consumer appetite and economic growth. These measures, together with market imbalances, fluctuations in energy prices, and geopolitical tensions, impacted not only the broader business environment but also the sectors in which Şişecam operates. The continuing weak demand, along with a slowdown in some regions, further emphasized the need for costsaving and operational efficiency measures. The ability to make agile decisions and act swiftly became increasingly critical. We believe that interest rate cuts and demand improvements in the second half of the year will partially support moderate developments in economies and a recovery in our sectors."

Regarding Şişecam's first-half 2024 results, Görkem Elverici stated: "With its experience in foreseeing uncertainties and strategic decision-making mechanisms, Şişecam successfully managed risks in the first half of the year. Consistent with its long-term strategic goals and regional strategies across business lines, Şişecam continues to manage its investment plans that create sustainable value, while taking economic and geopolitical developments into account. This strategic approach, which significantly contributes to the sustainable increase in shareholder value, will enable Şişecam to meet the anticipated demand with even stronger capabilities as uncertainties diminish and more favorable market dynamics emerge."

Global Confidence in Şişecam

Görkem Elverici also highlighted Şişecam's record-breaking bond issuance in April and May, which marks the largest corporate bond issuance in the history of the Turkish Republic: "We

issued Eurobonds totaling USD 1.5 billion in two tranches – with 55% maturing in 8 years and 45% in 5 years – to international funds and financial institutions. This issuance attracted nearly USD 5 billion in total demand from international funds and financial institutions, setting a record for the largest corporate bond issuance in the history of the Turkish Republic. Additionally, leading credit rating agencies Fitch and Moody's have lifted the country ceiling on Şişecam's credit rating. These developments once again reaffirm the global confidence in Şişecam.

About Sisecam

Sisecam was founded in 1935 to establish Turkey's glass industry in line with the vision of Mustafa Kemal Atatürk, a great leader respected worldwide. Today, Sisecam is a major global player in the fields of glass and chemicals. Sisecam is the only global company operating in all core areas of glass production – including flat glass, glassware, glass packaging and glass fiber. Currently, Sisecam ranks the world's leader manufacturer of glassware and among the top five producers of glass packaging and flat glass. Sisecam is one of the three largest soda producers in the world and the world leader in chromium chemicals.

Sisecam plays a leading role in the flat glass, glassware, glass packaging, chemicals, automotive, glass fiber, mining, energy, and recycling business lines. Sisecam operates production facilities in Germany, Italy, Bulgaria, Romania, Slovakia, Hungary, Bosnia-Herzegovina, Russian Federation, Georgia, Ukraine, Egypt, India, and the USA in addition to Türkiye.

Sisecam who takes firm steps towards its goal of becoming one of the world's top 3 manufacturers in its main fields of activity, with its competent human resources and smart technologies, and uninterruptedly continues to transform its digital infrastructure and culture by taking into account the future necessities. Sisecam who has 89 years of experience, more than 24 thousand employees, production activities in 14 countries on four continents, and a sales network of more than 150 countries, continues its growth journey with an inclusive approach that supports the development of company's entire ecosystem. Sisecam takes responsibility for protecting the planet, empowering society and transforming life with its CareForNext strategy, which is compliant with and centered around the United Nations Sustainable Development Goals. Sisecam uses all its experience and competencies to promote sustainable development in every aspect. www.sisecam.com.tr/en