SUWEN TEKSTİL SANAYİ PAZARLAMA A.Ş.

Investor Presentation • Apr 24, 2024

INVESTOR PRESETATION

FY 2023

DISCLAIMER

This presentation is the sole responsibility of the Company. The information contained in this presentation is not intended to be comprehensive, nor has all of this information been independently verified. The information used in the presentation is for discussion purposes only, and it is not intended to use all the information necessary to evaluate the Company or its activities, financial condition or future performance. The information and opinions given within the scope of this presentation are provided as of the presentation date, and changes in the information and opinions will not be subject to notification.

No representation or warranty, express or implied, has been or will be made by the Company, the Company's representatives or any other relevant person as to the objectivity, accuracy, adequacy or completeness of the information or opinions contained in this presentation (or as to whether any information has been omitted from this presentation) and no such assumption is made. To the extent permitted by legislation, the Company, its representatives or any other relevant persons accept no liability for any damage, direct or indirect, arising in any way whatsoever, whether in negligence or otherwise, arising in connection with this presentation.

The data regarding the sector and the competitive environment that may be included in this presentation has been provided, as much as possible, from official or independent sources. Independent sector publications, studies and research generally state that the data in these sources are obtained from sources thought to be reliable, but there is no guarantee regarding the accuracy and completeness of these data. Although the Company believes that each publication, study and research has been prepared by reliable sources, it has not independently verified the accuracy of such information. In addition, the data that may be included in this presentation regarding the sector and the competitive environment are based on the Company's internal research and estimates based on the knowledge and experience of the Company management in the sectors in which the Company operates. Although the Company believes that these studies and estimates are appropriate and reliable, the accuracy and completeness of these studies and estimates and their underlying methodologies and assumptions have not been verified by any independent source, and changes therein will not be subject to notification. Therefore, undue significance should not be attributed to the data related to the sector or competitive environment that may be included in this presentation.

This presentation contains some statements, opinions and estimated figures for the future. They reflect Suwen Management's current view of the future state of the Company and include certain assumptions. Actual results may differ depending on the development and realization of the variables and assumptions underlying the forward-looking statements and estimated figures.

DISCLAIMER REGARDING PRE-IAS29 INFORMATION

In accordance with the decision of the Capital Markets Board (CMB) dated 28.12.2023 and numbered 81/1820, issuers and capital market institutions, which apply Turkish Accounting/Financial Reporting Standards and are subject to the financial reporting regulations of CMB, shall apply inflation accounting by implementing the provisions of IAS29 starting from their annual financial statements for the fiscal years ending on 31.12.2023.

In this context, our company's independently audited consolidated financial statements for 2022 and 2023 have been published comparatively, corrected for the inflation effect in accordance with the relevant standard and expressed in terms of the purchasing power of money as of 31.12.2023.

This presentation of our Company's financial results for the year 2023 is based on independently audited annual financial data, which has been subject to inflation accounting in accordance with the provisions of IAS29. In addition to these data, in accordance with the CMB's decision dated 07.03.2024 and numbered 14/382, considering that our Company's future expectations and the financial performance of the quarterly interim period of 2023 can be presented using non-inflationary financial data provided that the necessary explanations are included, in order for our investors and other interested parties to evaluate Suwen's financial performance more comprehensively, non-inflationary and non-independently audited data for selected indicative items used in the Company's presentations in previous periods are also included in this presentation for informational purposes only.

2023 Highlights

Consolidated Highlights		Turkiye Highligts
2.504 TRY m Revenue (TRY 2.050m pre-IAS29)	42% Revenue Growth (118% pre-IAS29)		39% Retail Revenue Growth (112% pre-IAS29)	73% Online Revenue Growth (165% pre-IAS29)
546 TRY m EBITDA (TRY 631m pre-IAS29)	21,8% EBITDA Margin (30,8% pre-IAS29)		119 sqm Average Store Size	171 mono brand stores in 48 cities
192 TRY m Net Profit (TRY 313m pre-IAS29)	122 TRY m Net Cash (Excl. IFRS16 lease liabilities)		13.7 million Visitors in stores (11.5 million in FY 2022)	704 TRY TL Average Ticket Size (Grew by 69% Y-o-Y pre-IAS29)

Consolidated revenue grew by 42% (Y-o-Y) after IAS29 (inflation adjustment) – Growth is 118% pre-IAS29.

• Domestic retail revenue growth realized 39% with the inflation adjustment Growth is 112% pre-IAS29
  • LFL revenue growth reached at 29% (15% increase in # of tickets & 12% increase in average ticket size) ü asdfasd
• E-Commerce revenue growth realized 73% with the inflation adjustment Growth is 165% pre-IAS29

In addition to revenue growth, EBITDA margin remained robust and realized 21,8%.

Started 2024 with a net cash position of TRY 122m.

Number of stores in Turkiye reached at 171 (6 of which are operated by franchisees & the rest belong to Suwen)

• Number of International SOS (Self-Owned-Stores) reached at 9 (7 of which are in Romania while the rest is in Cyprus).
• Number of International FOS (Franchisee-Owned-Stores) reached at 9 in 7 different countries/ regions.

2023 Financial Results

CONSOLIDATED FINANCIAL RESULTS (PRE-IAS29)

Gross Profit (Million TRY)

Revenue (Million TRY)

Net Profit (Million TRY)

EBITDA (Million TRY)

CONSOLIDATED FINANCIAL RESULTS (BASED ON IAS29)

IAS29 IMPACT (ON EBITDA&NET PROFIT - 2023)

BALANCE SHEET INDICATORS (BASED ON IAS29)

(*) Net cash position does not include IFRS16 Lease liabilities.

REVENUE BY CHANNEL (PRE-IAS29)

TURKIYE RETAIL REVENUE (PRE-IAS29)

xx% LFL Growth Rate (Y-o-Y) xx% Variance compared to budget

REVENUE BY PRODUCT CATEGORY (*) (PRE-IAS29)

HOMEWEAR

UNDERWEAR

Pyjamas, nighties and morning gowns

Bras, panties, camisoles and corsets

4,4% HOSIERY

Pantyhoses, socks, tights

0,4%

Bra accessories, silicone pads and garter bands

8,5% BEACHWEAR

Bikinis, swimsuits, cover-ups, and beach accessories

0,2% COSMETICS

Bodymist, soap, cologne

2023 OPERATIONAL UPDATES

DOMESTIC OPERATIONAL INITIATIVES

18 new stores in 2023

concept in 2023

plan in 2024

12 stores renovated with new

10 new stores with deal

and 16 store renovation

# OF STORE DEVELOPMENT IN TURKIYE

(*) In 2023, 18 new stores opened, one store was taken over from franchisee and two stores were closed due to devastating earthquake.

INTERNATIONAL ACTIONS

INTERNATIONAL FRANCHISE (FOS)

Country / Region	Franchise Agreemen t	# of Stores 2023	5 Year Plan (2023-27)
Azerbaijan	✓	2	10
Qatar	✓	1	4
Algeria	✓	1	4
Jordan	✓	1	5
Turkmenistan	✓	1	3
Iraq	✓	2	10
Moldova	✓	1	3
Mongolia	✓	-	3
Kuwait	✓	-	5
Bahrain	✓	-	3
Other Countries (*)	≈	-	40+
INTERNATIONAL FOS		9	90+

Country / Region	Franchise # of Stores Agreemen 2023 t		5 Year Plan (2023-27)
Romania	SOS	7	17
Cyprus	SOS 2		3
Other Countries	SOS	-	5
INTERNATIONAL SOS		9	25
TOTAL INTERNATIONAL		18	115+

INTERNATIONAL RETAIL (SOS)

(*) In addition to the regions where franchise agreements have been already made, negotiations for Gulf countries and Turkic Republics are in progress.

2024 MANAGEMENT GUIDANCE

2024 MANAGEMENT GUIDANCE

YTD 2024 Update (**) (Pre-IAS29)

TR Retail revenue and online revenue grew by 111% and 112%, respectively, compared to the same period in prior year.

Relevant revenue growth was supported by the improvement in gross margins (2.5- 3.5 ppts improvement in gross margins, compared to the same period in prior year)

(*) 2024 Management Guidance is based on pre-IAS29 financial results and does not include any potential impact of inflation adjustments.

(**) YTD 2024 results represent the sales figures for the period between 1st of January and 21th of April.

APPENDIX

AWARDS

SUWER
Curiou

CD ﻀ 1
2022
unan - জেল

SUMMARY CONSOLIDATED INCOME STATEMENT SUMMARY CONSOLIDATED INCOME STATEMENT

Thousands of TL	2022	2023	Change (%)
Revenue	1.757.058	2.503.534	42,48%
Cost of Sales (-)	(828.701)	(1.205.933)	45,52%
Gross Profit	928.357	1.297.601	39,77%
Gross Profit (%)	52,84%	51,83%
Operating Expenses (-)	(750.225)	(1.052.671)	40,31%
Other Income/(Expense) from Main Operations, net	(6.424)	(13.287)	106,81%
Operating Profit	171.707	231.644	34,91%
Operating Profit (%)	9,77%	9,25%
Income/(Expense) from Investing Activities, net	10.744	137	-98,72%
Operating Profit Before Financial Expense	182.451	231.781	27,04%
Financial Income/(Expense), net	(61.118)	(92.527)	51,39%
Monetary gain/(loss) Profit Before Tax from Continuing Operations	165.721 287.054	194.868 334.122	17,59% 16,40%
Taxes on Income	(68.088)	(117.709)	72,88%
Deferred Tax Income/(Expense)	5.263	(24.849)	-572,12%
Net Profit for the Year	224.229	191.563	-14,57%
Net Profit for the Year (%)	12,76%	7,65%
EBITDA	412.949	546.172	32,26%
EBITDA (%)	23,50%	21,82%

SUMMARY CONSOLIDATED BALANCE SHEET

SUMMARY CONSOLIDATED BALANCE SHEET

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Teşekkürler

YATIRIMCI İLİŞKİLERİ İLETİŞİM yatirimci@suwencompany.com