Otokar

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INVESTOR RELATIONS PRESENTATION 31.03.2008
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AGENDA

• Otokars 45th Anniversary
• Otokars Financials
• Market Evaluation
• Guide for 2008
• 2008 Targets
• Annex
• Otokar in 2010

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45 Years AnniversaryThe FIRSTs of TURKEY

• The first intercity buses of TURKEY
• The first domestic armoured vehicle
• The first 4x4 tactical vehicle production
• The first domestically manufactured minibus
• The first 8x8 tactical armoured vehicle
  Otokar-Yavuz
• The first hybrid bus Doruk 190LE Hibra
• The first Tank Design and Development

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45 Years AnniversarySales Units
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45 Years AnniversaryDefense Vehicles Produced in
20 Years

• Defensive Vehicle Orders Delivered in 20 Years
• Export Revenues Realized within 20 Years
• Export Units Realized within 20 Years

920 million USD 370 million USD Over 24.000
units
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2007 Financial Indicators

• Total Revenue
• EBITDA
• Net Profit
• Shareholders Equity
• ROE ()
• EBITDA Margin()
• Net Margin ()
• Current Ratio
• Total of Employees

• 357
• 41,4
• 32,3
• 122,4
• 26,4
• 11,3
• 8,8
• 1,47
• 1124

As of 31.12.2008 (USD mio)
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1Q-2008 Financial Indicators

• Total Revenue
• EBITDA
• Net Profit
• Shareholders Equity
• ROE ()
• EBITDA Margin()
• Net Margin ()
• Current Ratio
• Total of Employees

• 94
• 13,6
• 13,9
• 125,6
• 11,1
• 14,5
• 14,8
• 1,42
• 1217

As of 31.03.2008 (USD mio)
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Otokars Financials Revenue-Distribution

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Otokars Financials Margins
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Otokars Financials Ebitda Ebitda Margins
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Otokars Financials Net Profit Net Margin
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Otokars Financials Dividend Performance
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Otokars Financials Stock Performance
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Otokars Financials Stock Performance
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Market EvaluationMarket Share-Midibus
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Capital Expenditure
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Working Capital
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Cash Flow Statement
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2008 Guide

• Vehicles with higher Margins to new markets
• New Models for commercial vehicles with the
  support of RD
• Exports of trailers and Vectio to abroad
• Official signing of the Tank Project
• Announcement of the results of the two big tenders

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2008 Guide Projects for 2008

• Conclusion and shipment of the agreed
  apprx.USD.130 mio.worth of Military contracts in
  2008 both domestic and abroad
• Completion of the signature phase of the Main
  Battle Tank
• Attending to two big military tender in April and
  Sept08
• Attending IDEF 2008 Exhibition and other Fairs
  abroad to display new armoured vehicles and to
  sign new deals
• Production of Otoyols Eurobus midibuses as of
  May08
• Exports of trailers by agreements with foreign
  companies for tailor made products
• Launch of Vectio in Europe

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2008 Targets

• Revenue
• Exports
• Capex

400 million USD 100 million USD 7-8 million USD
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ANNEX

• Summary Profit Loss Statement (IFRS)
• Summary Balance Sheet (IFRS)
• Summary Cash Flow Statement (IFRS)
• Most recent Sales Volume and Production Figures

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ANNEX SUMMARY-ProfitLoss Statement
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ANNEX SUMMARY-Balance Sheet
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ANNEX SUMMARY-Cash Flow Statement
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ANNEX SUMMARY- Most Recent SalesProduction
Figures
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OTOKAR in 2010

• Revenue more than 500 million USD
• Exports to be the 1/3 of the revenue
• Growth with the industrial and property rights
  belonging to Otokar reaching higher profits
• Higher dividend yield
• Increasing the company market value
• To satisfy the shareholders

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CONTACTS

• Hüseyin Odabas
• Assist.Gen.Manager (Finance)
• (90 264) 229 22 44 451
• hodabas_at_otokar.com.tr
• Yasemin Orhon
• Finance Section Manager
• (90 264) 229 22 44 411
• yorhon_at_otokar.com.tr
• Ö.Ahmet Özerol
• Finance Section
• Investor Relations Assistant
• (90 264) 229 22 44 422
• aozerol_at_otokar.com.tr