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FIRST QUARTER OF 2014 April 25, 2014

TURKCELL

CELEBRATING OUR 20TH YEAR IN TURKEY

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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

Süreyya Ciliv Turkcell CEO

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TRY MILLION1 Q1 2013 Q1 2014 Growth YoY %

Revenue 2,688 2,855 6%

EBITDA2 808 887 10%

EBITDA Margin 30.0% 31.1% 1.1pp

EBIT 447 488 9%

Net Income 566 359 (36%)

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.

• Continued growth despite tough market conditions

• Excluding MTR cut, consolidated revenues would increase by 10%

• Net income adversely affected by FX loss due to devaluation in Ukraine

CONSOLIDATED FINANCIAL RESULTS

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2.382

2.688

2.855

29,5%

30,0%

31,1%

Q112 Q113 Q114

Revenue EBITDA Margin

TURKCELL GROUP

Turkcell Turkey

Mobile Broadband

Subsidiaries

Turkcell Turkey

Voice1

REVENUE GROWTH (YoY)

TURKCELL GROUP: Q114 KEY REVENUE GROWTH DRIVERS

↓3%

↑26%

↑33%

Excl. MTR cut impact2 ↑3%

1 Voice and other revenues include outgoing, incoming, roaming and other (comprising almost 1% of Turkcell Turkey) revenues 2 Excluding MTR cut impact figure calculated by multiplying actual traffic by MTR rates prior to the cut

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ARPU (TRY)

Q1 2013 Q1 2014 YoY (%)

Blended 21.0 21.0 -

Postpaid 36.4 36.3 -

Prepaid 11.5 10.8 (6%)

14.1

20.7

Postpaid Prepaid

TURKCELL TURKEY: OPERATIONAL HIGHLIGHTS

Total: 34.8

million Postpaid subscriber

↑93K in Q114

TURKCELL TURKEY OPERATIONAL KPIs

*Excluding MTR cut impact, blended , postpaid and prepaid ARPU would be TRY22.0; TRY37.4 and TRY11.6 respectively in Q114

MARKET ENVIRONMENT

72,1

75,0

72,4

69,2

72,7

7,88 7,40 7,75 7,89 8,39

Sep13 Dec13 Jan14 Feb14 Mar14

Consumer Confidence Index Consumer Price Index

Total subscriber

↓389K in Q114

• CPI increased in Q114

• Decreasing trend in consumer confidence showed an upward move in March’14

• Aggressive pricing environment prevailed in the mobile market

- Focus on bundled packages with increased data incentives

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4,3

6,9

10,3 13%

22%

32%

Q112 Q113 Q114

# of smartphone (mn)Smartphone Penetration

TURKCELL TURKEY: CONTINUED GROWTH ON DATA

MOBILE BB & SERVICE REVENUES TURKCELL SMARTPHONE TREND

60%

19% 21%

TRY 668 mn

Mobile BB & Services

Revenues (TRY mn)

YoY % Chg

Mobile Broadband

Mobile services*

668 ↑ 8%

400 ↑ 26%

129 ↑ 3%

Messaging ↓ 20% 139

Mobile Broadband & Services Revenue Breakdown – Q114

*Includes IFRS adjustments for mobile broadband and services

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39% 26%

35%

TURKCELL SUPERONLINE: FIBER BUSINESS DELIVERS SOLID RESULTS

TRY 280 mn

Corporate 73 mn TRY ↑34%

Residential 109 mn TRY ↑51%

Wholesale 98 mn TRY ↑28%

STRONG SEGMENT PERFORMANCE

REVENUE BREAKDOWN IN Q114

Q114 Revenue YoY%

• 32,500 km of fiber network

• 614K fiber subscribers in Q114

• 1.8 million3 homepass and 35% take-up rate

TRY MILLION1 Q113 Q114 YoY%

Revenue 203 280 38%

EBITDA2 56 75 34%

EBITDA Margin 27.3% 26.7% (0.6pp)

EBIT 12 20 67%

% of Group

Revenues 8% 10% 2pp

FINANCIAL PERFORMANCE

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. 3 Home passes figure refers to the total of home passes and office passes

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UKRAINE: CONCERNING MACRO, YET STABLE PERFORMANCE

MARKET ENVIRONMENT

Source : GFK Ukraine

7,99 7,99 7,99

9,99

10,95 80,6 80,3

72,5

64,6 67,8

Sep13 Dec13 Jan14 Feb14 Mar14

Closing USD/UAH Consumer Confidence

• Increased tensions in Ukraine, specifically in Crimea and the Eastern regions

• Instability in political and macro environment led to

• Decrease in consumer confidence

• Devaluation of local currency (USD/UAH↑37%)

• Operational KPIs remained strong with

• 9.3 million 3- month active subscribers (↑1.1 million YoY)

• Evaluating the potential impacts of the macro developments on our operations

• No major impact yet due to limited exposure to Crimea

• Devaluation led to TRY464 million FX loss

ASTELIT FINANCIAL PERFORMANCE

↑13% in UAH terms

US$ MILLION Q113 Q114 YoY%

Revenue 99 99 0%

EBITDA 28 32 13%

EBITDA Margin 28.2% 31.9% 3.7pp

EBIT (2) 7 n.m

% of Group

Revenues 7% 8% 1pp

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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 2014 result announcement press release.

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2.382

2.688

2.855

Q112 Q113 Q114

TURKCELL GROUP: REVENUE & EBITDA MARGIN DEVELOPMENT

TRY MILLION

*Excluding depreciation and amortization

↑6% YoY

REVENUE

808

887 167

(17) (13) (58)

EBITDAQ113

Δ in Revenues

Δ in Direct cost of

revenues*

Δ in G&A exp.

Δ in S&M exp.

EBITDAQ114

EBITDA & EBITDA MARGIN TRY MILLION

Margin

30.0% Margin

31.1% EBITDA Margin ↑ 1.1pp ↑10% YoY

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566

359

41 75 5

(508)

11 (23) 192

Net incomeQ113

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 incomeQ114

TURKCELL GROUP: NET INCOME

∆ in Astelit’s FX Loss (465)

∆ in interest income 82 ∆ in interest expense (7)

TRY MILLION

∆ in EBITDA 80 ∆ in D&A (39)

Q114 vs. Q113

∆ in minority interest 196

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8.129 7.989

887 (340) 205 104

(996)

Q413 EBITDA Capex* Netinterestincome

Netchangein debt

Othercash flow

items

Q114

TURKCELL GROUP: BALANCE SHEET & NET CASH DEVELOPMENT

TRY million Q1 2013 Q1 2014

Total Cash 6,611 7,989

Total Assets 18,863 21,508

Total Debt 3,015 3,516

Net Cash 3,596 4,474

Total Equity 13,284 15,026

BALANCE SHEET HIGHLIGHTS

*Including operational and non-operational capex

CASH DEVELOPMENT

TRY MILLION

MAJOR CASH OUTFLOW ITEMS

Capex TRY 340 mn

Frequency Usage Fee payment TRY345 mn

Corporate tax of Turkcell Turkey TRY 123 mn

Increase in trade receivables TRY 190 mn

Decrease in trade payables TRY 217 mn

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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)

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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 2013 Q4 2013 Q1 2014 YoY (%) QoQ (%)

Revenue 2,688.4 2,883.6 2,855.2 6% (1%)

Direct Cost of Revenues2 (1,685.7) (1,848.9) (1,740.9) 3% (6%)

S&M (425.0) (510.4) (483.1) 14% (5%)

G&A (128.9) (152.0) (142.1) 10% (7%)

EBITDA 807.6 851.5 887.3 10% 4%

EBITDA Margin 30.0% 29.5% 31.1% 1.1pp 1.6pp

Net Income 566.9 506.7 360.6 (36%) (29%)

(TRY MILLION)

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SUMMARY INCOME STATEMENT AS PER IFRS FINANCIALS

1 Depreciation and amortization is included

($ MILLION)

Summary income statement Q1 2013 Q4 2013 Q1 2014 YoY (%) QoQ (%)

Revenue 1,504.5 1,417.6 1,284.0 (15%) (9%)

Direct Cost of Revenues1 (944.2) (905.6) (783.6) (17%) (13%)

S&M (237.7) (250.7) (217.1) (9%) (13%)

G&A (72.1) (74.3) (63.9) (11%) (14%)

EBITDA 452.1 420.4 399.2 (12%) (5%)

EBITDA Margin 30.0% 29.7% 31.1% 1,1pp 0.4pp

Net Income 316.5 254.0 162.9 (49%) (36%)

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CONSOLIDATED BALANCE SHEET ($ MILLION)

Consolidated Balance Sheet ($ mn) 1Q 2013 4Q 2013 1Q 2014 YoY (%) QoQ (%)

Cash & Bank 3,655 3,809 3,648 (0%) (4%)

CURRENT ASSETS 5,477 5,455 5,527 1% 1%

Fixed Assets, Net 4,223 3,855 3,625 (14%) (6%)

Other Long Term Assets 729 662 670 (8%) 1%

TOTAL NON-CURRENT ASSETS 4,952 4,517 4,295 (13%) (5%)

TOTAL ASSETS 10,429 9,973 9,822 (6%) (2%)

S/T Debt 892 845 983 10% 16%

TOTAL CURRENT LIABILITIES 1,958 2,020 2,007 3% (1%)

L/T Debt 775 716 623 (20%) (13%)

TOTAL NON-CURRENT LIABILITIES 1,126 1,049 953 (15%) (9%)

MINORITY INTEREST (81) (85) (128) 58% 51%

Share Capital 1,636 1,636 1,636 - -

TOTAL EQUITY 7,345 6,904 6,862 (7%) (1%)

TOTAL EQUITY AND LIABILITIES 10,429 9,973 9,822 (6%) (2%)

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2,33 2,31 2,54 3,04

2,44 2,35 2,94 3,01

2011 2012 2013 2014 1Q

Average Period-End

CURRENCY TRENDS

USD / TRY EUR / TRY

USD / BYR USD / UAH

1,67 1,79 1,91

2,23 1,89 1,78

2,13

2,19

2011 2012 2013 2014 1Q

5,038

8,326 8,883 9,697

8,350 8,570 9,510 9,870

2011 2012 2013 2014 1Q

7,9663 7,9912 7,9930 9,1510

7,9898 7,9930 7,9930

10,9546

2011 2012 2013 2014 1Q