Company Guidance

Guidance Revision for 2020 Consolidated Financial Results

In the first quarter of 2020, we recorded strong financial and operational results.

The Covid-19 outbreak that is declared by the World Health Organization to be pandemic on 11 March 2020 has effects on the global economy and consumer habits. On the positive side, we have observed a strong performance in the fixed segment with the support of increasing the internet demand during this period. However, we prefer a cautious approach, even though the gradual ease of precautions regarding the outbreak is positive in terms of reducing risks. Within this scope, we are slightly revising down our revenue guidance for 2020, incorporating overall risk factors.

We are increasing our EBITDA guidance upwards reflecting the favorable change in product mix in sales along with disciplined opex management.

The capacity to provide high speed will be even more critical in the coming period due to remote working and distance education models. Accordingly, on our country-wide network, we decided to advance some of our fiber investments with fast returns. Also incorporating the FX movements, we have revised our CAPEX guidance upwards.

Accordingly, under current circumstances, guidance for 2020 is as below:

• Consolidated revenue growth (excluding IFRIC 12) to be around 13% over 2019
• Consolidated EBITDA to be at TL 12.4 billion - TL 12.6 billion level
• Consolidated CAPEX to be around TL 6.4 billion