KALESERAMİK ÇANAKKALE KALEBODUR SERAMİK SANAYİ A.Ş.

Investor Presentation • May 12, 2025

2025 3-Month Operating Results

May 12, 2025

Sınıflandırma: GENEL (PUBLIC)

Turkish Market: Construction Industry

Sınıflandırma: GENEL (PUBLIC)

0% 5% 10% 15% 20% 25% 30% 0 50 100 150 200 250 House Sales Number of Houses Sold (000) Mortgage Sales - Share

• Construction sector, which contracted for 5 consecutive years between 2018-22, made positive a contribution to economic growth in 2024 after 2023.
• Although the sector maintained growth momentum in 2024 due to reconstruction works in the earthquake zone and the urban transformation projects that gained momentum after the local elections, it remained far from compensating for the losses of the 2018-22 period.
• In the first quarter of the year, there was a 20% increase in housing sales.
• Due to high credit costs, 15% of sales were due to mortgage sales. (2024:%11)
• Approximately 30% of housing sales were first-hand sales.

Bu mesaj/doküman GENEL (PUBLIC) etiketi ile sınıflandırılmıştır.

(2013-19 average : 45%, 2020-24 average : 31%)

• Building construction permits issued in 2024 decreased by 13% to 758 K. (Last 10 Year average 790 K)
• Building occupancy permits, which show completed houses, increased by 10% in 2024 (586 K), after the lowest level of the last 13 years (535 K) in 2023. (Last 10 Year average 694 K)

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Turkish Market: Construction Industry

• The construction confidence

index, which tended to increase in the first quarter of the year, decreased by 3.4 points in April due to the political tensions and the financial shocks caused by them.

• Existing construction works

weakened in Jan.-Feb. due to the winter and increased again in March.

• The effects of financial shocks caused by political tensions emerged in April, and the index declined by 2.5 points with the additional tightening measures taken.

Bu mesaj/doküman GENEL (PUBLIC) etiketi ile sınıflandırılmıştır.

• New business orders decreased by 1.6 points in April after February and March.

• Due to the harsh winter conditions and financial shocks, new business orders decreased significantly in April as well.

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Turkish Market: Construction Industry - Potential

Bu mesaj/doküman GENEL (PUBLIC) etiketi ile sınıflandırılmıştır.

DETERMINANTS IN THE CONSTRUCTION INDUSTRY

- Strong organic demand for housing

(Increasing population, need for new households as a result of marriage/divorce, decreasing number of people per household)

- Construction activities in the earthquake zone

(Construction of approximately 810 K independent units in the earthquake zone)

- Urban transformation activities

(According to a report in 2020, independent units that needs to undergo urban transformation is 6.7 Mio.)

- Recent increase in construction permits

• Tightening monetary policy (high interest, etc)
• High construction costs & wage increases
• Limited skilled workforce in the sector
• Slowdown in public investment & tax regulations

Export Markets: Construction Materials Industry

Bu mesaj/doküman GENEL (PUBLIC) etiketi ile sınıflandırılmıştır.

• According to Jan.-Feb. '25 data announced by IMSAD, our country's construction material exports increased by 3.0% compared to the same period of the previous year.
• In February 2025, construction material exports decreased by 4.8% compared to February 2024. The increase in exports, which has been going on for the last 4 months, was interrupted in February.
• Exports of ceramic coatings, which are the main product groups of our company, increased by 1,1%, while exports of ceramic sanitary ware decreased by 14.8%.

Exports (USD mio.)	Jan-Feb 2025	Jan-Feb 2024	Change
Construction Materials	4.589	4.457	%3,0
- Seramic Coating	100	99	%1,1
- Seramik Sanitary ware	37	43	-%14,8

Kaynak: İMSAD

Turkish Market: Predictions for 2025

• In the light of the developments in the first 4 months of the year, IMSAD maintains its 5% growth expectation for the construction sector at the beginning of the year.
  • ➢ Earthquake Zone Infrastructure and Superstructure Constructions: The public sector has targeted the completion of the construction of 295,000 independent sections by 2025.
  • ➢ Istanbul Earthquake and Urban Transformation: The 6.2 magnitude earthquake in the Marmara Sea in April may be a trigger for urban transformation again.
  • ➢ Social Housing Constructions: In order to limit the increase in housing prices and housing rents, the public sector aims to build 125,000 social housing units in 81 provinces in 2025.

Bu mesaj/doküman GENEL (PUBLIC) etiketi ile sınıflandırılmıştır.

Source: İMSAD

Sales Growth & Breakdown by Region

Bu mesaj/doküman GENEL (PUBLIC) etiketi ile sınıflandırılmıştır.

• Factors such as tightening measures in the economy (high interest rates, etc.) and high construction costs continued to put pressure on domestic demand.
• The recession in Europe, which is the main export market, the additional uncertainty created by the tariff wars and the appreciation in the TL were also factors that negatively affected the export side.

Investments

Sınıflandırma: GENEL (PUBLIC)

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• As of February 22, 2024, the contract for the "Supera Production Line Ground Glazed Porcelain Production System" to be purchased within the scope of the "Supera Production Line" planned to be established in our production facilities in Çanakkale, Çan, was signed between our company and the Italian company SITI B&T Group.
• With the new investment of EUR 5,54 mln. made within the scope of the Slab-Sinterflex investment in the prospectus, the existing old granite line will be renewed and developed, and slabs in the dimensions of 120 cm.x280 cm. and 60 cm.x120 cm. will be manufactured.

• The new line, which will produce products that are expected to reach a 10-15% share in the estimated turnover of 2025, was commissioned in January 2025.

Financial Statements

IAS-29 APPLIED

Sınıflandırma: GENEL (PUBLIC)

(TL million)		2025 Month 3	2024 Month 3	Y -on-Y Change
Sales Net		2 834 2 ,	3 267 2 ,	13 3% - ,
Profit Gross		124 7 ,	354 4 ,	64 8% - ,
	Margin	4% 4 ,	8% 10 ,
Profit Operating		578 8 - ,	198 7 - ,
	Margin	20 4% - ,	6 1% - ,
Profit Before Financing		600 5 - ,	210 6 - ,
	Margin	2% 21 - ,	4% 6 - ,
Profit Before Tax		624 6 - ,	533 5 - ,
	Margin	22 0% - ,	16 3% - ,
Profit Net		646 7 - ,	728 1 - ,
	Margin	22 8% - ,	22 3% - ,
EBITDA		333 1 - ,	22 3 ,
	Margin	8% 11 - ,	0 7% ,

Bu mesaj/doküman GENEL (PUBLIC) etiketi ile sınıflandırılmıştır.

1013

Sınıflandırma: GENEL (PUBLIC)

P&L Summary*

Sınıflandırma: GENEL (PUBLIC)

(TL million)	31 03 2025	31 12 2024		31 03 2025	31 12 2024
Current Assets	8 206 5 ,	7 874 2 ,	Liabilities Current	8 577 0 ,	7 522 7 ,
Cash Cash Equivalents &	1 376 8 ,	1 604 9 ,	Short Borrowings Term	5 059 6 ,	4 714 3 ,
Trade Receivables	2 867 5 ,	2 133 7 ,	Short of Portion Borrowing Term LT	310 7 ,	317 7 ,
Inventories	3 354 0 ,	3 653 2 ,	Trade Payables	2 724 6 ,	2 021 2 ,
Prepaid Expenses	438 4 ,	281 3 ,	Deferred Incomes	146 4 ,	208 8 ,
Current Tax Assets	86 0 ,	71 6 ,	Provisions	81 7 ,	46 2 ,
Others	83 8 ,	129 5 ,	Others	253 9 ,	214 4 ,
Non-current Assets	9 281 0 ,	9 158 5 ,	Liabilities Non-current	1 435 7 ,	1 486 9 ,
Financial Investments	62 0 ,	70 3 ,	Bank Long-Term Borrowings	785 4 ,	842 1 ,
Tangibles Assets	7 407 6 ,	7 225 3 ,	Long-Term Leasing	69 1 ,	73 2 ,
Intangible Assets	585 4 ,	577 9 ,	Trade Payables	154 6 ,	152 3 ,
for Properties Investment Purpose	371 8 ,	349 7 ,	Provisions	426 6 ,	419 2 ,
Deferred Tax Assets	719 7 ,	736 9 ,	Total Equity	7 474 8 ,	8 023 1 ,
Others	134 4 ,	198 4 ,	Capital Inflation Issued & adj	9 685 4 ,	9 685 4 ,
TOTAL ASSETS	17 487 5 ,	17 032 7 ,	& TOTAL LIABILITIES EQUITY	17 487 5 ,	17 032 7 ,

31.03.2025 31.12.2024 31.03.2025 31.12.2024

Cash and Financial Debt Structure

• As of the end of 2025 Q1, the total value of cash and cash equivalents is TL 1.4 billion.
• There are a total of TL 6.2 billion in short- and long-term financial liabilities.
  • ➢ TL 104 million is due to operational leasing agreements
  • ➢ 86% short-term
  • ➢ 42% in FX

Sınıflandırma: GENEL (PUBLIC)

• ➢ 69% with fixed interest rates
• As of the end of the 2025 Q1, the total net financial debt* is TL 4,7 billion.

* Cash and cash equivalents were deducted, and liabilities related to leasing transactions were ignored.

Annex

Sınıflandırma: GENEL (PUBLIC)

P&L Summary (IAS-29 not applied)

(TL million)		2025 Q1	2024 Q1	Y -on-Y Change
Sales Net		2 730 4 ,	2 235 6 ,	22 1% ,
Profit Gross		565 1 ,	582 9 ,	3 0% - ,
	Margin	20 7% ,	26 1% ,
Profit Operating		82 7 - ,	218 6 ,
	Margin	0% 3 - ,	8% 9 ,
Profit Before Financing		102 0 - ,	211 2 ,
	Margin	7% 3 - ,	4% 9 ,
Profit Before Tax		2 571 - ,	18 4 - ,
	Margin	9% 20 - ,	8% 0 - ,
Profit Net		386 7 - ,	138 0 ,
	Margin	2% 14 - ,	2% 6 ,
EBITDA		6 0 ,	271 1 ,	8% 97 - ,
	Margin	0 2% ,	12 1% ,

Bu mesaj/doküman GENEL (PUBLIC) etiketi ile sınıflandırılmıştır.

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Disclaimer

None of the information contained in this presentation contains investment advice, and any advice contained herein is not based on specific buyers' assessments of investment objectives, financial standing, or particular needs. This presentation does not constitute, in whole or in part, an offer to sell any of the Company's securities or an invitation for another offer or subscription or takeover, or incentive to make an investment. No part of this presentation and the fact that it has been distributed shall form the basis of any contract, commitment, or investment decision and cannot be considered in this regard. This presentation is solely the responsibility of the Company. This presentation is not intended to cover all information about the Company, nor has it been independently verified. The information and opinions given within the scope of this document are provided as of the date of presentation, and changes in the information and opinions contained in the presentation will not be subject to notification. The Company has not made, nor will it make any express or implied representations or commitments regarding the impartiality, sufficiency, accuracy and completeness of the information or opinions contained in this presentation (or whether the entry of any information into this presentation has been neglected), and no such assumptions are made.

The sector and competitive environment data contained in this presentation have been obtained from official or independent sources as far as possible. Independent industry publications, studies, and surveys generally state that the data contained in such sources are obtained from sources considered to be reliable, but that no commitment is made as to the accuracy or completeness of this information. While the Company believes that each publication, study, and survey has been prepared by reliable sources, it has not independently verified the accuracy of such information. In addition, the sector and competitive environment data in this presentation are based on the Company's internal surveys and estimations based on the Company management's knowledge and experience in the sectors in which the Company operates. While the Company believes that these surveys and estimates are appropriate and reliable, the accuracy and completeness of these surveys and estimates and the underlying methodologies and assumptions have not been verified by any independent source, and changes in them will not be subject to notification. Therefore, undue meaning should not be attributed to any data contained in this presentation.

This presentation contains "forward-looking statements." These statements include such terms as "anticipate," "will," "believe," "intend," "guess," "expect," and similar. Except for historical information, all related statements, including but not limited to the Company's financial position, prospects, growth, business strategy, plans, and management's objectives for future operations, are forward-looking statements. These statements include known and unknown risks and other important factors, including but not limited to risks or uncertainties that could cause the Company's actual results, performance, or achievements to differ significantly from the results, performance, or achievements stated or implied in this forward-looking statements. These statements are based on numerous assumptions regarding the Company's current and prospective business strategies and the business environment in which the Company will operate in the future. These forward-looking statements are to be taken into consideration only as of the date of this presentation. The Company warns the recipients of this presentation that the forward-looking statements do not constitute a commitment to the future performance of the Company and that the Company's actual financial position, expectations, growth, business strategy, plans, and management's objectives regarding future operations may differ materially from those stated and disclosed in the forward-looking statements in this presentation. In addition, even if the Company's financial position, prospects, growth, business strategy, plans, and management's objectives for future operations are consistent with the forward-looking statements in the presentation, these results and developments do not constitute an indicator of the results or developments to be achieved in any future period.

Any member of the board of directors, managers, employees or any other person of Kaleseramik, Çanakkale Kalebodur Seramik Sanayi A.Ş. or the Company; Kaleseramik, Çanakkale Kalebodur Seramik Sanayi A.Ş. cannot be held responsible for any damages that may arise from the use of the content of this presentation.