PERIODIC ANALYST INFORMATION MEETING April 7, 2010

Agenda  Economic Developments in Turkey and in the World  Automotive Sector in Turkey and in the World  Doğuş Otomotiv in 2009  Expectations and Objectives

Global Macroeconomic Outlook in the Year 2009 The effects of the crises in all economies Signs of recovery in the second half of 2009 High unemployment rates Global comprehensive monetary and financial incentive programs Increasing public debt in developing countries Ending of the interest rate reduction in the last quarter

Global Macroeconomic Outlook in the Year 2010 Expectations Signals of normalization in the world economy Improvement in global risk perception Normalization trends in financial markets Uncertainties in the rate of recovery and sustainability Overview Slow and gradual recovery in the economy Optimism in global financial markets Gradual increase in oil prices Improvement in global liquidity conditions and risk perception Expectations

Macroeconomic Outlook Turkey 2009 Year of Crisis Contraction in aggregate demand Decline in inflation Central Bank interest rate reductions and their effects Incentive packages and their effects Relative improvement in current account balances The crisis was appropriately managed Strong financial sector The impact of regulatory reform after the 2000/01 crisis Low household debt ratio

Macroeconomic Outlook Turkey in 2010 Expectations Gradual recovery in the economy Increase in private consumption expenditure Expectation of poor recovery in external demand (Euro Area) Moderate upward trend in industrial employment Reduction of expansionary effects of fiscal policy to continue The crisis was appropriately managed  Strong financial sector  The impact of regulatory reform after the 2000/01 crisis  Low household debt ratio

(*) Global Insight estimates Number of employees within the industry worldwide EMPLOYMENT 50 Million Production mn Quantity * Total Turnover 2008 €1.8 Trillion Global Automotive Sector Automotive Industry in the world

Status of our brands in the world TOTAL WORLD Market Share %10 SALES (UNITS) CHANGE VOLKSWAGEN PASSENGER VEHİCLE %7,8 LIGHT COMMERCIAL VEHICLE %-28,0 PORSCHE %-23,7 AUDI %-5,4 BENTLEY %-39,3 LAMBORGHINI %-37,7 BUGATTI 50 71%-39,3 SEAT %-8,5 SKODA %1,4 SCANIA %4,3 VOLKSWAGEN GROUP TOTAL %0,9 TOTAL EUROEPAN Market Share %20 Source : VWAG

Wholesale MarketPVLuxury Segment LCVHCV Automotive Sector of Turkey in the Year 2009 Souırce ODD Wholesale Heavy Commercial Vehicles Souırce : Scania Luxury Segment Brands : Audi, BMW, Mercedes, Volvo, Alfa Romeo, Land Rover, Jaguar, Porsche, Ferrari, Maserati, Bentley, Lamborghini, Saab %-3 %9 %20 %36 %-42 December 2008 December

Turkey Automotive Sector Growth potential, has not yet reached saturation in the domestic market Ease of access to growing regional markets Banking system Qualified Human Resources in production, management and service Strong supply industry Young population

Doğuş Otomotiv Performance Sales (Quantity)* DOAŞ Market Share Second Hand Sales (Quantity) % % (%8) (%17) Net Sales (mn TRY) Net Profit (mn TRY) Net Profit Margin % (110) (%5.1) (%1) % ChangeMarket Performance* * Wholesale quantity. Skoda,Scania, Krone and Meiller sales are included. ** Capital Markets Authority (SPK) data Financial Performance** Change

2010 Expectations Total Market520 K – 530 K DOAŞ Sales52 K – 53K DOAŞ Market Share10% DOD Second Hand Sales DOAŞ Turnover(*)2 – 2,5 billion TRY (*)Doğuş Otomotiv 2010 not consolidated expectations.

Total 16 launch in 2010! New Polo Transporter Golf R, Touareg, Touran Amarok Q5 A5 Sportback A5 Cabriolet A8, RS 5, A1, R8 Spyder, TT PI Cayenne Diesel Panamera Panamera, 911 Turbo, 911 GT3 RS, 911 GT3 Cup, 911 Sport Classic Gallardo LP 550-2LP Exeo EGR Euro 4 R Serisi Mulsanne

2009 Financial Results I Net Sales Gross Profit Gross Profit Margin Operating Expenses EBIT EBIT Margin Net Profit Net Profit Margin ,2% ,6% 30,5 1,4% (1%) 4% (16%) 244% 128% CMB * (mn TRY) Change ,6% ,1% (110) (5,1%) Sales(Unit) (8%) (*)Capital Markets Board of Turkey

2009 Financial Results II CMB (mn TRY) Change Sales & Marketing Expenses (84,46)(117,93) (28%) General and Administrative Expenses (121,16) (133,26) (9%) Financing Expenses (40,36)(121,94) (67%) Share in result of Associates& JV 4,14(36,08) 111%

2009 Financial Results III CMB (mn TRY) Change Cash and Cash Equivalents Accounts Receivable Stocks Total Operating Capital (59% ) 31% (55%) (43%) Financial Obligations Accounts Payable (40%) (71%)

Doğuş Otomotiv / Value Chain 2010 Import and Distribution Yüce Auto* Centre of Logistics Doğuş Otomotiv Independent Authorized Dealers Retail DOD Used Vehicle Sales Automotive Financing* Insurance* Leaseplan* Insurance* Finance Krone* Meiller* Product TÜVTURK* Other Investments Quick Fix to all Brands Replacement Parts and After Sales Services * Subsidiaries ** Representative Offices **

International Retail Investment – D-Auto Suisse SA

PERIODIC ANALYST April 7, 2010 INFORMATION MEETING