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TURKCELL

FIRST QUARTER OF 2015 April 30, 2015

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This presentation may contain statements that are forward looking. These statements are based on current expectations and assumptions that are subject to risks and uncertainties, which may cause actual results to differ materially due to factors discussed in this presentation, in our press release, in the Risk Factors section of Turkcell’s most recent Form 20-F, or in other reports and filings with the US Securities and Exchange Commission. We undertake no duty to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Please note that all financial data is consolidated, whereas non-financial data is unconsolidated unless otherwise specified.

NOTICE

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BUSINESS OVERVIEW

Kaan Terzioğlu Turkcell CEO

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TRY MILLION1 Q1 2014 Q1 2015 Growth YoY %

Revenue 2,855 2,978 4%

EBITDA2 887 927 4%

EBITDA Margin 31.1% 31.1% -

EBIT 488 533 9%

Net Income 359 141 (61%)

TURKCELL GROUP: FINANCIAL HIGHLIGHTS

1 TRY figures are based on IFRS TRY figures 2 EBITDA is a non-GAAP financial measure. Please refer to the press release for the reconciliation of EBITDA to net cash from operating activities.

CONSOLIDATED FINANCIAL RESULTS

• Record high first quarter revenue and EBITDA, improved EBIT performance

• TRY1.78 dividend per share, TRY3.9 billion in total distributed for years 2010 -2014

• Net income impacted by FX losses in international subsidiaries

HIGHLIGHTS OF THE FIRST QUARTER

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Q1 2015 TRY MILLION1

Revenue 2,711 10% 193 (38%) 75 7%

EBITDA 831 8% 53 (34%) 43 15%

EBITDA Margin 30.7% (0.4pp) 27.5% 1.6pp 57.1% 3.8pp

EBIT 481 6% 11 n.a 40 15%

Net Income 779 40% (656) n.a 18 (15%)

TURKCELL GROUP: OVERVIEW OF BUSINESS LINES

1 TRY figures are based on IFRS TRY figures 2Turkcell Turkey constitutes mobile and fixed telecom operations in Turkey 3Turkcell international consists of operations in Ukraine, Belarus, Northern Cyprus, Germany, and Fintur (only at net income level) 4 Other subsidiaries include betting business in Turkey and Azerbaijan and Group eliminations

TURKCELL TURKEY2

YoY %

OTHER SUBSIDIARIES 4

YoY %

TURKCELL INTERNATIONAL3

YoY %

• Strong growth in Turkcell Turkey, mainly on growth in broadband and mobile services

• Net income of Turkcell Turkey grew by 40% to TRY779 million mainly due to FX gain

• Turkcell Intl net income was impacted by TRY1,008 mn FX losses due to devaluation

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TRY MILLION

TURKCELL GROUP 2,855 2,978 4%

TURKCELL TURKEY1 2,475 2,711 10%

CONSUMER 1,930 2,122 10%

CORPORATE 487 532 9%

WHOLESALE 70 71 2%

TURKCELL

INTERNATIONAL 311 193 (38%)

OTHER SUBSIDIARIES2 70 75 7%

TURKCELL GROUP: REVENUE BREAKDOWN

Q1 2015 YoY %

1 Turkcell Turkey revenues include eliminations 2 Other subsidiaries include betting business in Turkey and Azerbaijan and Group eliminations

Q1 2014

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TURKCELL TURKEY: SOLID OPERATIONS IN TURKEY

SUBSCRIPTION ARPU

~100K

776K

496K

TOTAL

34.3 mn

PREPAID ↓684K

ADSL ↑39K

QoQ NET ADD

MOBILE

18.7 mn

15.5 mn POSTPAID ↑313K

↓370K

FIBER

FIXED 1.3 mn

↑41K

TV* ↑40K

*TV subscribers are also included in total fiber subscribers **Fiber and ADSL blended

↑ 80K

ARPU (TRY) Q1

2014 Q1

2015 Growth YoY %

Mobile blended 21.0 22.7 8.1%

Postpaid 36.3 36.9 1.7%

Prepaid 10.8 11.3 4.6%

Fixed residential** 47.2 47.1 (0.2%)

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• Turkcell TV+, cutting edge TV platform reached ~100K subscribers in 6 months

• BIP, instant messaging service has around half a million subscribers in less than a month

• 8 petabytes of storage in Data Centers, investments to continue and will triple our capacity & secure storage thru Cloud Services

TURKCELL TURKEY: CONSUMER & CORPORATE

SEGMENT DRIVERS

54%

31% 10%

5%

Data 826 mn TRY ↑46%

Voice 1,432 mn TRY ↓4%

Services 278 mn TRY ↓1%

Q115 Revenue YoY%

Other* 118 mn TRY ↑36%

2,654 mn TRY

↑10% YoY

PRODUCTS & SERVICES

• Turkcell Music biggest music service with largest local content over a million subscribers

REVENUE BREAKDOWN IN Q115

*Other includes Turkcell Satış (retail store in telecommunications), Global Bilgi (call center services), Rehberlik Hizmetleri (information services) and Turkcell Teknoloji (research and development)

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Q114 Q115 YoY%

Revenue 176 177 1%

EBITDA 4 0 (90%)

EBITDA Margin 2.3% 0.2% (2.1pp)

EBIT (63) (150) 138%

• UAH/USD continue to devalue 49% QoQ

• Revenue market share increased by 4pp to 17% in 3 yrs

• Awarded the most efficient frequency at 3G auction

TURKCELL INTERNATIONAL:OPERATIONS IN UKRAINE AND BELARUS

* As Inflationary accounting is ended starting from Q115, Q114 figures presented in the table are not inflation adjusted for comparative purposes

UAH MILLION Q114 Q115 YoY%

Revenue 899 1,059 18%

EBITDA 288 327 14%

EBITDA Margin 32.0% 30.9% (1.1pp)

EBIT 70 115 63%

ASTELIT PERFORMANCE

BYR BILLION

BeST PERFORMANCE*

• BYR/USD devaluated 24% QoQ

• Discontinuance of inflationary accounting

• Exploring our strategic options

HIGHLIGHTS OF ASTELIT HIGHLIGHTS OF BeST

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FINANCIAL OVERVIEW

Murat Erden Turkcell CFO

NOTICE:

Please note that all financial data are consolidated whereas non-financial data are unconsolidated unless otherwise specified.

EBITDA is a non-GAAP financial measure. Please refer to the press release for the reconciliation of EBITDA to net cash from operating activities.

All non-financial data are unconsolidated, prepared in accordance with IFRS and expressed in US$ and/or TRY.

The figures used in this presentation are rounded while percentage changes are calculated based on the figures disclosed in the Q1 2015 result announcement press release.

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887 927

123 (92) 1 7

EBITDAQ114

Δ in Revenues

Δ in Direct cost of

revenues*

Δ in G&A exp.

Δ in S&M exp.

EBITDAQ115

TURKCELL GROUP: REVENUE & EBITDA DEVELOPMENT

TRY MILLION

*Excluding depreciation and amortization

REVENUE EBITDA

TRY MILLION

2,855

2,978 236

(118) 5

RevenueQ114

Δ in Turkcell Turkey

Δ in Turkcell International

Δ in Other Subsidiaries

RevenueQ115

Revenue ↑4.3% EBITDA ↑4.5%

Astelit (94)

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359

141

45

10 21

(190)

(64)

(74) 34

Net incomeQ114

Δ in EBIT Δ in Interest Inc./(Exp.)

Δ in Equity in

Net Inc./(Loss)

Δ in FX Gain/(Loss)

Δ in Monetary

Gain/(Loss)

Δ in Taxation Δ in Other Net incomeQ115

TURKCELL GROUP: NET INCOME

∆ in Astelit’s FX Loss (190) ∆ in BeST’s FX Loss (289)

TRY MILLION

∆ in EBITDA 40 ∆ in D&A 5

Q115 vs. Q114

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TURKCELL GROUP: BALANCE SHEET & NET CASH DEVELOPMENT

TRY million Q1 2014 Q1 2015

Total Cash 7,989 8,174

Total Assets 21,508 23,978

Total Debt 3,516 4,127

Net Cash 4,474 4,046

Total Equity 15,026 12,927

BALANCE SHEET HIGHLIGHTS

NET CASH DEVELOPMENT

TRY MILLION

MAJOR CASH OUTFLOW ITEMS

Capex TRY755 mn

Frequency Usage Fee payment TRY495 mn

Corporate tax of Turkcell Turkey TRY132 mn

Increase in trade receivables and decrease in trade payables

9,032 8,174

927 (755) 215 46 (1,291)

Q414 EBITDA Capex* Netinterestincome

Netchange in

debt

Othercash flow

items

Q115

*Including operational and non-operational capex

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THANK YOU For further information please e-mail

investor.relations@turkcell.com.tr or call Turkcell Investor Relations at

(+90 212 313 1888) Please download our IR app via below QR codes For Android For iOS

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APPENDIX

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SUMMARY INCOME STATEMENT AS PER CMB1 FINANCIALS

1 Capital Markets Board of Turkey 2 Depreciation and amortization is included

Summary income statement Q1 2014 Q4 2014 Q1 2015 YoY (%) QoQ (%)

Revenue 2,855.2 3,103.2 2,978.2 4% (4%)

Direct Cost of Revenues2 (1,740.9) (1,972.2) 1,828.0 5% (7%)

S&M (483.1) (517.8) (476.3) (1%) (8%)

G&A (142.1) (146.8) (140.8) (1%) (4%)

EBITDA 887.3 917.1 926.8 4% 1%

EBITDA Margin 31.1% 29.6% 31.1% - 1.5pp

Net Income 360.6 257.9 141.6 (61%) (45%)

(TRY MILLION)

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SUMMARY INCOME STATEMENT AS PER IFRS FINANCIALS

1 Depreciation and amortization is included

($ MILLION)

Summary income statement Q1 2014 Q4 2014 Q1 2015 YoY (%) QoQ (%)

Revenue 1,284.0 1,382.6 1,209.9 (6%) (12%)

Direct Cost of Revenues1 (783.6) (877.6) (743.0) (5%) (15%)

S&M (217.1) (230.7) (193.3) (11%) (16%)

G&A (63.9) (65.2) (57.2) (10%) (12%)

EBITDA 399.2 409.1 376.6 (6%) (8%)

EBITDA Margin 31.1% 29.6% 31.1% - 1.5pp

Net Income 162.9 117.5 48.1 (70%) (59%)

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CONSOLIDATED BALANCE SHEET ($ MILLION)

Consolidated Balance Sheet ($ mn) 1Q 2014 4Q 2014 1Q 2015 YoY (%) QoQ (%)

Cash & Bank 3,648 3,895 3,131 (14%) (20%)

CURRENT ASSETS 5,527 5,739 5,120 (6%) (9%)

Fixed Assets, Net 3,625 3,597 3,276 (10%) (9%)

Other Long Term Assets 670 882 791 18% (10%)

TOTAL NON-CURRENT ASSETS 4,295 4,479 4,067 (5%) (9%)

TOTAL ASSETS 9,822 10,218 9,186 (6%) (10%)

S/T Debt 983 1,056 1,371 39% 30%

TOTAL CURRENT LIABILITIES 2,007 2,152 3,732 86% 73%

L/T Debt 623 538 211 (66%) (61%)

TOTAL NON-CURRENT LIABILITIES 953 859 501 (47%) (42%)

MINORITY INTEREST (128) (165) (203) 59% 23%

Share Capital 1,636 1,636 1,636 0% 0%

TOTAL EQUITY 6,862 7,206 4,953 (28%) (31%)

TOTAL EQUITY AND LIABILITIES 9,822 10,218 9,186 (6%) (10%)

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2.31 2.54 2.90

2.79 2.35

2.94

2.82 2.83

2012 2013 2014 1Q15

Average Period-End

CURRENCY TRENDS

USD / TRY EUR / TRY

USD / BYR USD / UAH

1.79 1.91 2.19

2.46 1.78 2.13 2.32

2.61

2012 2013 2014 1Q15

8,326 8,883 10,255

14,528 8,570 9,510 11,850

14,740

2012 2013 2014 1Q15

7.99 7.99 11.87

21.18

7.99 7.99

15.77

23.44

2012 2013 2014 1Q15

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TRY MILLION

Q1 2013 Q1 2014 Q1 2015

TURKCELL GROUP 2,688 2,855 2,978

TURKCELL TURKEY1 2,394 2,475 2,711

CONSUMER 1,915 1,930 2,122

CORPORATE 439 487 532

WHOLESALE 50 70 71

TURKCELL

INTERNATIONAL 245 311 193

OTHER SUBSIDIARIES2 50 70 75

TURKCELL GROUP: HISTORICAL REVENUE BREAKDOWN

1 Turkcell Turkey revenues include eliminations 2 Other subsidiaries include betting business in Turkey and Azerbaijan and Group eliminations

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Our target is to be an integrated communication and technology services player in the region, operating a converged mobile and fixed network platform and offering a wide range of innovative products and services. We believe that it will be important to offer to our consumer and corporate customers the full range of our mobile, fixed and broadband services to meet their expectations. Consequently, we intend to refocus our marketing and sales around customer groups, presenting to each group the full scope of our relevant services in an integrated and coordinated manner. In pursuit of this goal, financial reporting of our telecommunication businesses will now be presented under two major groups: “Turkcell Turkey” and “Turkcell International”. The remaining businesses, mainly the betting businesses in Turkey and Azerbaijan, continue to be reported under “Other Subsidiaries”. Turkcell Turkey comprises the business segments that have historically reported as “Turkcell İletişim Hizmetleri A.Ş.” and “Superonline İletişim Hizmetleri A.Ş.”, together with other Turkish telecom related businesses including “Global Bilgi Pazarlama Danışma ve Çağrı Servisi Hizmetleri A.Ş.” (call center services), “Turktell Bilişim Servisleri A.Ş.” (Information technology, value added GSM services investments), “Turkcell Teknoloji Araştırma ve Geliştirme A.Ş.” (research and development), “Kule Hizmet ve İşletmecilik A.Ş.” (telecommunications infrastructure business), “Turkcell Satış ve Dağıtım Hizmetleri A.Ş.” (retail store in telecommunications), “Turkcell Interaktif Dijital Platform ve İçerik Hizmetleri A.Ş.” (radio and television broadcasting), “Global Ödeme Hizmetleri A.Ş.” (value-added GSM services), “Turkcell Gayrimenkul Hizmetleri A.Ş.” (real estate business for Turkcell Group only), and “Rehberlik Hizmetleri A.Ş.” (information services). Prior to this change, these businesses other than Turkcell İletişim Hizmetleri A.Ş. and Superonline İletişim Hizmetleri A.Ş. were reported under “Other Subsidiaries”. This new reporting thus brings together all of our Turkish telecommunications activities, including mobile services, fixed line and fixed broadband, in accordance with our strategy of offering a converged network to all of our customers. Turkcell International comprises the business segments that have historically reported as “Euroasia Telecommunications Holdings B.V.”, “LLC Astelit” (Astelit in Ukraine) and “Belarusian Telecommunications Network”, together with our other international telecommunication operations, including “Beltur Coopertief U.A.”, “Beltel Telekomünikasyon Hizmetleri A.Ş.”, “Lifetech LLC.”, “Kıbrıs Mobile Telekomünikasyon Limited Şirketi”, “East Asian Consortium B.V.” “LLC Ukrtower”, “LLC Global Bilgi ” “Turkcell Europe GmbH” and “Fintur Holdings B.V.”(equity accounted investee). We will begin applying this change in reporting to our first quarter presentation and press release, reflecting the new approach in both our financial and operational reporting. Accordingly, we may be introducing new key performance indicators as necessary and may phase out those that we believe are no longer relevant to an understanding of our business. Within Turkcell Turkey, we will monitor and present our revenue performance across three separate customer segments – Consumer, Corporate and Wholesale – and will provide performance indicators measuring the use of different services (voice, data, services and other, as appropriate). This represents a change from our prior method of reporting, in which we reported the key revenue lines of mobile services in Turkey along with total fixed services revenue. Our IFRS financial statements reflect this new reporting structure and our presentation of business segments changed accordingly. As discussed above, we are implementing significant changes to the manner in which we oversee our business and in the related financial reporting. While we are confident that this will help to improve our competitive position and results, no assurances can be given that this will be the case. Organizational changes carry inherent risks, including notably customer, distributor and employee acceptance and operational disruption. They also present challenges with respect to ensuring adequate financial reporting and internal controls over financial reporting. Furthermore, implementing such changes may require significant management time and energy, diverting resources away from other issues. While we will of course endeavor to limit and manage any such issues as and when they arise, no assurance can be given that the changes described will be effectively applied and will achieve the desired results, will not lead to further changes, and will not have adverse effects on our competitive position and financial results

Our target is to be an integrated communication and technology services player in the region, operating a converged mobile and fixed network platform and offering a wide range of innovative products and services. We believe that it will be important to offer to our consumer and corporate customers the full range of our mobile, fixed and broadband services to meet their expectations. Consequently, we intend to refocus our marketing and sales around customer groups, presenting to each group the full scope of our relevant services in an integrated and coordinated manner. In pursuit of this goal, financial reporting of our telecommunication businesses will now be presented under two major groups: “Turkcell Turkey” and “Turkcell International”. The remaining businesses, mainly the betting businesses in Turkey and Azerbaijan, continue to be reported under “Other Subsidiaries”. Turkcell Turkey comprises the business segments that have historically reported as “Turkcell İletişim Hizmetleri A.Ş.” and “Superonline İletişim Hizmetleri A.Ş.”, together with other Turkish telecom related businesses including “Global Bilgi Pazarlama Danışma ve Çağrı Servisi Hizmetleri A.Ş.” (call center services), “Turktell Bilişim Servisleri A.Ş.” (Information technology, value added GSM services investments), “Turkcell Teknoloji Araştırma ve Geliştirme A.Ş.” (research and development), “Kule Hizmet ve İşletmecilik A.Ş.” (telecommunications infrastructure business), “Turkcell Satış ve Dağıtım Hizmetleri A.Ş.” (retail store in telecommunications), “Turkcell Interaktif Dijital Platform ve İçerik Hizmetleri A.Ş.” (radio and television broadcasting), “Global Ödeme Hizmetleri A.Ş.” (value-added GSM services), “Turkcell Gayrimenkul Hizmetleri A.Ş.” (real estate business for Turkcell Group only), and “Rehberlik Hizmetleri A.Ş.” (information services). Prior to this change, these businesses other than Turkcell İletişim Hizmetleri A.Ş. and Superonline İletişim Hizmetleri A.Ş. were reported under “Other Subsidiaries”. This new reporting thus brings together all of our Turkish telecommunications activities, including mobile services, fixed line and fixed broadband, in accordance with our strategy of offering a converged network to all of our customers. Turkcell International comprises the business segments that have historically reported as “Euroasia Telecommunications Holdings B.V.”, “LLC Astelit” (Astelit in Ukraine) and “Belarusian Telecommunications Network”, together with our other international telecommunication operations, including “Beltur Coopertief U.A.”, “Beltel Telekomünikasyon Hizmetleri A.Ş.”, “Lifetech LLC.”, “Kıbrıs Mobile Telekomünikasyon Limited Şirketi”, “East Asian Consortium B.V.” “LLC Ukrtower”, “LLC Global Bilgi ” “Turkcell Europe GmbH” and “Fintur Holdings B.V.”(equity accounted investee). We will begin applying this change in reporting to our first quarter presentation and press release, reflecting the new approach in both our financial and operational reporting. Accordingly, we may be introducing new key performance indicators as necessary and may phase out those that we believe are no longer relevant to an understanding of our business. Within Turkcell Turkey, we will monitor and present our revenue performance across three separate customer segments – Consumer, Corporate and Wholesale – and will provide performance indicators measuring the use of different services (voice, data, services and other, as appropriate). This represents a change from our prior method of reporting, in which we reported the key revenue lines of mobile services in Turkey along with total fixed services revenue. Our IFRS financial statements reflect this new reporting structure and our presentation of business segments changed accordingly. As discussed above, we are implementing significant changes to the manner in which we oversee our business and in the related financial reporting. While we are confident that this will help to improve our competitive position and results, no assurances can be given that this will be the case. Organizational changes carry inherent risks, including notably customer, distributor and employee acceptance and operational disruption. They also present challenges with respect to ensuring adequate financial reporting and internal controls over financial reporting. Furthermore, implementing such changes may require significant management time and energy, diverting resources away from other issues. While we will of course endeavor to limit and manage any such issues as and when they arise, no assurance can be given that the changes described will be effectively applied and will achieve the desired results, will not lead to further changes, and will not have adverse effects on our competitive position and financial results

IMPORTANT NOTICE