MAY 2012

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 are consolidated whereas non-financial data are unconsolidated unless otherwise specified.

NOTICE

(*): Revenues from Fintur (operations in Kazakhstan, Azerbaijan, Georgia, Moldova) is not included under subsidiaries. The contribution of Fintur is recorded under share of profit of associates below EBITDA line. (**) Voice revenues include outgoing, incoming, roaming and other (comprising almost 2% of Turkcell Turkey) revenues

3

Turkcell Group: Revenue breakdown (%)

67% 62% 62%

20% 22% 22%

13% 17% 17%

Q111 Q411 Q112Subsidiaries*

Turkcell Turkey Mobile internet& services

Turkcell Turkey voice**

Turkcell Group: Subscribers in Q112 (million)

34.5 11.2

9.9 4.2

2.1 1.7 1.1

0.4 0.2

Turkcell Turkey

Kazakhstan

Ukraine

Azerbaijan

Georgia

Belarus

Moldova

Northern Cyprus

Turkcell Europe

9 countries

65.3 million subscribers

Leadership in the region

0.5 million net additions in Q112

TURKCELL GROUP REGIONAL LEADER

(*): TRY figures in this slide are based on IFRS TRY figures. EBITDA is a non-GAAP financial measure. 4

TURKCELL GROUP FINANCIAL HIGHLIGHTS

Double digit revenue growth YoY led by 8% growth in Turkcell Turkey and 43% growth in subsidiaries

Double digit EBITDA growth YoY

• Higher revenue

• Increased contribution of subsidiaries

Strong growth in net income

• Higher EBITDA

• Higher net finance income

Q1 2012 HIGHLIGHTS

CONSOLIDATED FINANCIAL RESULTS

TRY million FY10 FY11 YoY (%) Q1 2011 Q4 2011 Q1 2012 YoY (%) QoQ (%)

Revenue 9,004 9,370 4.1% 2,118 2,446 2,382 12.4% (2.6%)

EBITDA 2,948 2,913 (1.2%) 626 695 703 12.3% 1.2%

EBITDA Margin 32.7% 31.1% (1.6pp) 29.5% 28.4% 29.5% - 1.1pp

Net Income 1,764 1,178 (33.2%) 330 332 515 56.0% 55.2%

Avg. US$/TRY

rate 1.51 1.67 11.0% 1.57 1.82 1.79 13.6% (1.9%)

5

STRONG START TO THE YEAR

1 Voice revenues include outgoing, incoming, roaming and other (comprising almost 2% of Turkcell Turkey) revenues

TURKCELL GROUP

Turkcell Turkey Voice1

Turkcell Turkey Mobile Broadband & Services

Subsidiaries

Q1 2011

43%

25%

3%

Q1 2012

1,416 1,455

(TRY million)

529

279 398

YoY Growth

424

Turkcell Superonline grew by 59%

20% -8%

-14%

LEADER IN TURKEY

6 Source: Company announcements and ICTA reports * The information on Operator A’s EBITDA and FCF margins for FY11 are not available. Shown figures for Operator A is for the 9 months of 2011 and calculated based on company and ICTA announcements and market estimates

MARKET SHARES1 2011 53% 28%

20%

53% 27%

20%

72% 17%

11%

123%

Subscriber Revenue EBITDA EBIT

FCF MARGIN % 20112

Turkcell Operator A Operator B

31% 14%

12% EBITDA MARGIN % 20112

• Retaining the customer base

• Simplified tariff structure

• Responded to aggressive competition via affordable tariff plans

• Continued contracting efforts

TURKCELL TURKEY MARKET AT A GLANCE

7

• Aggressive offers & communication

• Decrease in average price per minute

• Higher incentives

• Continued focus on postpaid

9.3%

7.8%

Q1 2011 Q1 2012

Churn rate

61%

38%

Turkcell Market

Smartphone sales in total handset sales1

TURKCELL’S FOCUS MOBILE MARKET

1 Source: Gfk

• Increased smartphone sales

• 35%1 YoY growth in smartphone sales

• Fueling the mobile broadband usage

• Increased smartphone penetration

• Promoted bundled offers

• Created the need via innovation

TURKCELL TURKEY MAINTAINED SUBSCRIBER BASE

8

22.7 22.9 22.5

10.4 11.7 12.0

Q111 Q411 Q112

Prepaid Postpaid

Postpaid as a % of revenues Postpaid as a % of subscribers

SHARE OF POSTPAID IN REVENUES & SUBSCRIBERS

33.1 34.5 34.5

SUBSCRIBER (million) SUMMARY OPERATIONAL RESULTS

Q111 Q411 Q112 YoY (%) QoQ (%)

ARPU (TRY) -blended 18.4 19.7 19.2 4.3% (2.5%)

ARPU (TRY) -postpaid 37.9 37.5 36.5 (3.7%) (2.7%)

ARPU (TRY) -prepaid 9.8 11.0 10.1 3.1% (8.2%)

MoU 192.5 220.4 221.5 15.1% 0.5%

63%

65%

Q111 Q112

31%

35%

Q111 Q112

2.4

3.8 4.3

7%

12% 13%

Q111 Q411 Q112

# of smartphones (million)

Smartphone penetration in our network

T20

T11

TURKCELL T SERIES

«Widening access to mobile internet at affordable prices»

TRY389 TRY 14.90X24 months

TRY455 TRY 19.90X24 months

9

«NFC enabled»

«NFC enabled»

«T20: The best selling Android phone in the market in FY11*»

*Source: Gfk

Non-smartphone

Smart-phone

SMARTPHONE VS. NON-SMARTPHONE

Internet User Data ARPU)

5X

INCREASING SMARTPHONE NUMBERS (MILLION)

↑82% YoY

TURKCELL TURKEY LEADING THE SMARTPHONE MARKET

1,281 1,619

1,944

FY09 FY10 FY11

261 454

724

FY09 FY10 FY11

GROWING MOBILE BROADBAND REVENUES (TRY MILLION)

INCREASING MOBILE BROADBAND & SERVICES* REVENUES (TRY MILLION)

*Includes revenues from SMS/MMS, mobile internet and other mobile services

TURKCELL TURKEY SOLID INCREASE IN MOBILE BROADBAND

10

151 166 207 200 229 163 175

208 190 173 109 120

114 134 127

Q111 Q211 Q311 Q411 Q112

Mobile Broadband SMS/MMS Mobile Services

424 529

↑52% YoY

↑ 6% YoY

↑16% YoY

↑25% YoY

BREAKDOWN OF MOBILE BROADBAND & SERVICES REVENUES (TRY MILLION)

TURKCELL SUPERONLINE STRONG GROWTH IN FIBER

11

52% 41%

23%

30% 24%

29%

Q111 Q112

Residential

Corporate

Wholesale

TURKCELL SUPERONLINE FINANCIAL RESULTS

TRY million FY 2010 FY 2011 YoY (%) Q1 2011 Q4 2011 Q1 2012 YoY (%) QoQ (%)

Revenue 335.1 460.5 %37.4 91.1 140.7 145.0 59.2% 3.1%

EBITDA 32.9 81.6 %148.0 14.5 31.1 29.1 100.7% (6.4%)

EBITDA Margin 9.8% 17.7% 7.9pp 16.0% 22.1% 20.1% 4.1pp (2.0pp)

Capex 480.3 392.7 (18.2%) 43.0 172.4 63.7 48.1% (63.1%)

REVENUE BREAKDOWN

↑92% YoY

↑105% YoY

↑24% YoY

33% 37%

44% 46% 51%

58% 63%

67% 74%

Mar.10 Jun.10 Sep.10 Dec.10 Mar.11 Jun.11 Sep.11 Dec.11 Mar.12

Share of Turkcell Superonline in Turkcell'sTransmission Costs

Turkcell Consolidated Transmission Costs

SUPERONLINE’S SHARE IN TRANSMISSION COSTS

UKRAINE SUSTAINED PROFITABILTY LEVELS

12

EBITDA & FCF MARGIN DEVELOPMENT

14.6%

21.4% 24.0%

27.2%

Q111 Q112

FCF margin EBITDA margin

Turnaround strategy resulted in strong revenue and EBITDA growth YoY

• Regional focus

• 7.1 million active subscribers up by 1 million YoY

Sustained improvement in EBITDA margins

• 4th consecutive quarter with above 25% EBITDA margin levels

ASTELIT FINANCIAL RESULTS

$ million FY 2010 FY 2011 YoY (%) Q1 2011 Q4 2011 Q1 2012 YoY (%) QoQ (%)

Revenue 339.3 368.8 %8.7 78.2 98.1 91.4 16.9% (6.8%)

EBITDA 64.5 94.2 %46.0 18.8 24.9 24.9 32.4% -

EBITDA Margin 19.0% 25.5% 6.5pp 24.0% 25.4% 27.2% 3.2pp 1.8pp

Capex 66.5 65.1 2.2% 7.4 26.6 5.3 (28.4%) (80.1%)

*Operational Capex

Mobile broadband

Mobile services

Fiber broadband

Contribution of subsidiaries

Revenue ~ 9,900 - 10,100

EBITDA ~ 3,000 - 3,200

CAPEX*-to- Sales

~ 17%

Core mobile business 1

2

Belarus

Ukraine

Georgia

Azerbaijan

Kazakhistan

Turkey

TRNC

Moldova 4

3

2012 GUIDANCE (Consolidated, TRY million)

MAJOR FOCUS AREAS

TURKCELL GROUP 2012 OUTLOOK

13

M2M

2.3 billion M2M connections in 2020

CLOUD

$170 billion revenues from cloud services in 2015

VOICE MESSAGING

DATA

MORE DATA

10 billion devices to be connected to the internet in

2016

MOBILE SERVICES

NEW WORLD MORE DIFFERENTIATION IN THE FUTURE

PRESENT FUTURE

Dynamics have been changing : MOBILITY is the key

PRICE NETWORK QUALITY

NETWORK QUALITY & SPEED CUSTOMER EXPERIENCE

INNOVATION

DIFFERENTIATION THRU

200 million NFC-enabled handsets by end 2012

Mobile health industry to reach $23 billion in 2017

TURKCELLTURKEY

Competitor ACompetitor B

Source: For coverage and number of base station figures our latest estimations, market estimates, operators’ and ICTA announcements and some media information have been utilised. Please also note that 3G exchanges: Radio Network Controllers

TURKCELL TURKEY HIGH QUALITY NETWORK

15

29,500

23,100 21,700

2G Base Stations 19,000 14,900 15,900

3G Base Stations 10,500 8,200 5,800

3G Pop.Coverage 88% 81% 79%

43.2 Mbps speed thru dual carrier: 1st in Turkey, 13th globally

2012 target: Doubling data speed: 84 Mbps

The only Turkish operator that can reach 168 Mbps thru A-type license

# OF BASE STATIONS

TURKCELL TURKEY TURKEY’S CHAMPION IN 3G DATA SPEED

16

11.91

4.90 4.55

2.37 1.75 1.40

Turkcell Avea Vodafone

Dowload Upload

RESULTS OF 3G DATA SPEED TEST (Mbps)

Test was run on a total of 59 points in 7 regions and 9 provinces in Turkey

2,136 measurements were taken

According to the independent test results of PCnet Magazine, Turkcell is the fastest in terms of 3G data speed…

Source: Research Method

TURKCELL LEADER IN THE TURKISH TELECOM MARKET

17

56 64

75 77

29 24

17 17 15 13 8 6

Competitor B

Competitor A

Turkcell

PERCEPTION STUDIES (MARCH 2012)

Most Innovative Operator

Best Qualified Customer Services

Best Network (Coverage &

Quality)

Leader

TURKCELL SUPERONLINE STRATEGIC INVESTMENTS IN FIBER

18

1,000 Mbps

100 Mbps

50 Mbps

20 Mbps

2.7 Mbps Turkey Avg

internet speed 51 min

7 min

3 min

1.5 min

8 sec

Fiber Network reached 30,000km in 2011

DOWNLOAD TIME FOR 1GB VIDEO FILE

Incity coverage

The first and only operator in Turkey providing 1000 mbps speed for residential segment

FIBER BROADBAND = = SPEED

TURKCELL LEADING THE MOBILE TECHNOLOGIES

19

Dynamics have been changing and Turkcell is leading the new world of mobile technologies

29 Turkcell branded applications, 40 million downloads in 2011 from Turkcell application store

Personal TV experience that spans multiple screens and locations…

Tailored and on-demand cloud services for corporate customers…

Mobile Financial Services: Mobile money transfer, mobile wallet…

Mobile Health: Turkey’s first remote monitoring service that uses mobile technology to link patients with their doctors

Increasing operational efficiency while decreasing costs through innovative solutions

Monitoring and control of machines and integrated sensors such as moisture, temperature, light etc

Smart Industry Solutions

Monitoring of various critical values in vehicles such as speed, route-control and driving routines from a central server

Smart Vehicles/Telematics

Monitoring and control of various appliances such as security monitors and AC’s from a distance.

Smart Buildings

Online monitoring of water, gas and electricity meters

Smart Metering

20

TURKCELL M2M SOLUTIONS

M2M potential:

150 mn machines

in Turkey

M-Finance/ M-Commerce Platforms are Growing in the world : $1.1 trillion in 2014E Turkcell: Achieving Firsts Together with Business Partners

Mobile Wallet: NFC Based, multi functional mobile wallet service • User downloads the plastic card

information on the SIM • User uses mobile phone for contactless

payment

Mobile Money Transfer: 7/24 safe banking transactions, compatible with every handset • User can transfer money by just knowing the recipient's

mobile number, no need for a bank account • The recipient can withdraw the cash from ATMs with the

password sent by an SMS

Mobile Payment: Shopping via SMS with all partner merchants • User sends an SMS to the defined short

code with a key word. • User confirms the payment and

transaction is completed with an approval SMS.

21

M-FINANCE / M-COMMERCE PLATFORMS ARE GROWING

THANK YOU

www.turkcell.com.tr

For further information please e-mail

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

(+90 212 313 1888)

TURKEY

0.7%

-4.7%

8.9% 8.5%

4.0%

5.0%

2008 2009 2010 2011 2012E 2013E

Source: Government estimates (April 17, 2012)

A Hub for the region

Booming economy with considerable size

With 8.5% growth, Turkey follows China to be the second highest growing economy

GDP GROWTH (%)

TURKEY POSTED SEQUENTIAL GROWTH IN LAST 10 QUARTERS

24

Considerable economy size

• 6th largest economy in Europe

Consumer Confidence improved in 2011

• CCI of Turkey has been above the EU average since September 2010

AMONG THE BIGGEST EUROPEAN ECONOMIES

GDP based on purchasing power parity, trillion US$, Source: IMF 2010 data

2.9

2.2 2.1 1.8

1.4 1.0

0.7 0.7 0.4 0.4

DE UK FR IT ES TR PL NL BE SE

CONSUMER CONFIDENCE INDEX %

Source: Turkstat

74.8

85.3 81.9

78.8

84.7 88.0

90.4 91.0 93.4

96.4 93.7 92.0 93.3

Q1 09Q2 09Q3 09Q4 09Q1 10Q2 10Q3 10Q4 10Q1 11Q2 11Q3 11 Q411 Q112

25

TURKEY BOOMING ECONOMY WITH CONSIDERABLE SIZE

TURKEY VAST OPPORTUNITIES TO GROW

Mobile penetration

ARPU

89%

130%

Turkey

Europe

$12

$32

Turkcell

Europe

Postpaid % in total subscribers 34%

46%

Turkcell

Europe

Mobile broadband as % of revenues

Fixed broadband penetration

9%

30%

Turkcell

Europe

10%

26%

Turkey

Europe

Source: Data on the Turkish market is based on ICTA report and Europe average is based on ML Global Wireless. Data as of December 31, 2011

Voice

Fixed and Mobile Broadband

26

Source: ICTA Q4 2011 market report.

52.7 62.0 65.8 55.7 42.4 40.3 39.0 36.2 33.9

7.1 19.4 21.4 24.8 28.6 31.4 75%

88% 92% 87% 85% 84% 87% 88% 89%

2006 2007 2008 2009 2010 Q111 Q211 Q311 Q4113G Subscribers (mn) 2G Subscribers (mn) Penetration (%)

18.8 18.2 17.5 16.5 16.2 15.8 15.7 15.5 15.2 15.0

25.8% 25.8% 24.5% 22.8% 22.3% 21.6% 21.4% 21.0% 20.6% 20.3%

2006 2007 2008 2009 2010 Q111 Q211 Q311 Q411 Q112

Subscribers (mn) Penetration (%)

MOBILE SECTOR

FIXED SECTOR

FIXED BROADBAND SECTOR 2.9 4.6 6 6.4 7.2 7 7.3 7.3 7.4

4.0% 7.0% 8.0% 9.0% 9.8% 9.8% 9.9% 10.2% 10.4%

2006 2007 2008 2009 2010 Q111 Q211 Q311 Q411Fiber Subscribers (mn) ADSL & Other Subscribers (mn) Penetration (%)

TURKEY TELECOMMUNICATIONS MARKET

27

44% 39%

38% 37% 35% 33% 33% 31% 31%

56% 61% 62% 63%

65% 67% 67% 69% 69%

FY06 FY07 FY08 FY09 FY10 Q111 Q211 Q311 Q411

Fixed Mobile

Source: ICTA Q4 2011

44% 37%

28%

18% 14% 14% 13% 12% 12%

56%

63%

72%

82% 86% 86% 87% 88% 88%

FY06 FY07 FY08 FY09 FY10 Q111 Q211 Q311 Q411

Fixed Mobile

REVENUE COMPOSITION (%) TRAFFIC COMPOSITION (%)

28

TURKEY TRAFFIC MIGRATES FROM FIXED TO MOBILE

6.2

4.2

3.0

1.4 1.1

9.7

8.3

6.7

5.6 4.8

1.4 1.2 1.2 1.0 0.7

1.09 0.79 0.52 0.52 0.52

2007 2008 2009 2010 2011

MTR -Turkcell EU-MTR FTR-TT EU-FTR

Turkcell MTR is 4 times below EU

EU MTR data is from EU progress report except 2010. 2010 EU MTR data is from ERG snap shot as of Jan2011 FTR data is as of October 2009, no data available for 2010 FTRs The figures converted by 2.5 eur/ tl rate

MTR cut by 3% MTR cut by 33% MNP launch

MTR cut by 28% Price cap cut by 20%

MTR cut by 52% Price cap cut by 38%

Price cap up by 4% Int’l SMS rate up by 4% SMS rate cut by 48% Int’l MTR deregulated

Eur cents

› Asymmetry in MTRs with Avea (18%) and Vodafone (3%)

TURKEY MAJOR REGULATORY DECISIONS

29

• Turkcell is being paid the lowest Interconnection Fee in Europe

1.1

0

1

2

3

4

5

6

7

8

9

Turk

cell

Cyp

rus

Au

stri

a

Sw

eden

Lit

hu

ania

Fra

nce

Ger

man

y

Net

her

lan

ds

Bel

giu

m

Hu

nga

ry

Po

lan

d

Fin

lan

d

Slo

ven

ia

Gre

ece

Po

rtu

gal

Sp

ain

Ro

man

ia

UK

Cze

ch R

ep

Cro

atia

Irel

and

Sw

itze

rlan

d

Den

mar

k

Bu

lgar

ia

Ital

y

No

rway

Est

on

ia

Lu

xem

bo

urg

Turkcell Call Termination Rate* (excluding treasury share) 1.1€-¢

EU average

4.8 € ¢

Source BEREC MTR Benchmark snapshot (as of Jan 2011) Turkcell MTR is calculated based on EUR/ TRY rate of 2.4 as of July 2011

30

MOBILE CALL TERMINATION RATES

TAX MOBILE FIXED

Special Communication Tax on voice

25% 15%

Special Communication Tax on broadband

5% 5%

VAT 18% 18%

Treasury Share 15% 1%

Contribution Share to Telecom Authority

0.35% 0.35%

Communication Tax - 1%

New subscription Special Communication Tax (at first enrollment)

TRY 37.00 -

Wireless license fees (per acquisition)

TRY 14.56 -

Wireless usage fees (per acquisition)

TRY 14.56 -

Special Communication Tax on broadband

5% 5%

TURKEY HAS THE WORLD’S HIGHEST MOBILE SERVICE TAXES

High taxes on mobile sector is an obstacle Improved macroeconomic conditions in Turkey may

lead a cut in tax rates A potential reduction on tax rates will expand

mobile sector revenues

0%

10%

20%

30%

40%

50%

60%

Turk

ey

Uga

nd

a

Bra

zil

Ukr

ain

e

Ke

nya

Arg

en

tin

a

Pak

ista

n

Po

lan

d

Ch

ile

Ro

man

ia

Ru

ssia

Aze

rbai

jan

Alg

eria

Egyp

t

Kaz

akh

stan

Me

xico

Sou

th A

fric

a

Ind

ia

Iran

Thai

lan

d

Nig

eri

a

Ch

ina

31

HIGH TAXES ON MOBILE SECTOR

SUBSIDIARIES

33

SUBSIDIARIES SNAPSHOT ASTELIT

FACTS

Operating since February 2005 with its brand life :)

97.8% population coverage with more than 9,482 base stations

Turnaround strategy resulted in 19.8pp increase in EBITDA margin between 2009-2011

4th consecutive quarter with above 25% EBITDA margin levels

50.1%

35.8%

14.1%

KYIVSTAR

MTS

LIFE :)

Subscriber* Market Shares Q411

Subscribers* Q411 million

24.8

17.7

7.0

52.1%

36.2%

11.7%

KYIVSTAR

MTS

LIFE :)

Revenue Market Shares FY11

Revenues FY11 US$ million

1,644

1,142

369

Ownership 55% Turkcell 45% System Capital

Ownership 100% Vimpelcom

Ownership 51% JSFC Sistema 49% Free Float

Mobile Penetration Rate: 125%

* 3 month active subscribers

34

SUBSIDIARIES SNAPSHOT BEST

FACTS

Operating under the control of Turkcell since August 2008 with its brand life :) Best operated 2G services in all, and 3G services in 81% of the cities with a population of more than 10,000 2G coverage of approximately 99.5% of the entire population of Belarus, or 91.5% of the geographical coverage MNP launched in February 1, 2012

44.9%

42.1%

13.0%

MTS

VELCOM

LIFE :)

Subscriber* Market Shares Q411

Subscribers* Q411 million

4.9

4.6

1.4

46.3%

47.1%

6.5%

MTS

VELCOM

LIFE :)

Revenue Market Shares FY11

Revenues FY11 US$ million

339.7

345.7

48.0

Ownership 80% Turkcell 20% Belarusian State

Ownership 51% Belarusian State 49% MTS

Ownership 100% Telekom Austria Group

Mobile Penetration Rate: 116%

* 3 month active subscribers

FINANCIAL OVERVIEW

36

TURKCELL GROUP REVENUE (TRY million)

* Voice revenues of Turkcell Turkey includes other revenues which accounts for 2% of total Turkcell Turkey revenues

2,446 2,382 (57) (1) (6)

RevenueQ411

Δ in Voice* Δ in Mobile broadband & services

Δ in Subsidiaries RevenueQ112

2,118

2,382 39

105 120

RevenueQ111

Δ in Voice* Δ in Mobile broadband & services

Δ in Subsidiaries RevenueQ112

Δ in Turkcell Turkey: ∑ TRY 144mn

Δ in Turkcell Turkey: ∑ TRY (58mn) Q112 vs. Q411 QoQ ↓ (2.6%)

Q112 vs. Q111 YoY ↑12.4%

37

TURKCELL GROUP EBITDA MARGIN (%)

* Excluding depreciation and amortization

29.5% 29.5% (2.7pp) 0.2pp 2.5pp

EBITDAQ111

Δ in Direct cost of revenues*

Δ in G&A exp.

Δ in S&M exp.

EBITDAQ112

28.4% 29.5% 0.3pp (0.8pp) 1.6pp

EBITDAQ411

Δ in Direct cost of revenues*

Δ in G&A exp.

Δ in S&M exp.

EBITDAQ112

Q112 vs. Q111 QoQ ↑ 1.1pp

Q112 vs. Q111 YoY (-)

TURKCELL GROUP NET INCOME (TRY million)

330

515

22 65 (7) 60 40 11 (6)

Net incomeQ111

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 Other Inc./Exp.

Δ in Taxation

Net incomeQ112

Q112 vs. Q111 YoY ↑ 56.0%

332

515 271 5 (5) 129 (233)

3 13

Net incomeQ411

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 Other Inc./Exp.

Δ in Taxation

Net incomeQ112

Q112 vs. Q411 QoQ ↑ 55.2%

Δ in EBITDA Δ in Depreciation

8 263

Δ in EBITDA Δ in Depreciation

77 (55)

38

1 TRY 1,596 million time deposits with a maturity longer than 3 months was recorded as Financial Investment and shown as a part of total cash in the summary table 2 TRY 10 million time deposits with a maturity longer than 3 months was recorded as Financial Investment

TURKCELL GROUP BALANCE SHEET HIGHLIGHTS & CAPEX

39

Consolidated (TRY million) Q1 2011 Q4 2011 Q1 2012

Total Cash 4,916 6,3341 6,0582

Total Assets 15,151 17,187 17,157

Total Debt 2,791 3,529 3,359

Net Cash 2,125 2,805 2,699

Total Equity 9,964 10,826 11,325

FY 2011 CAPEX SPLIT (TRY MILLION)

Total Capex: TRY 1,636 million

Turkcell Superonline

393 Turkcell Turkey

894

International 227

Other 123

Return on Cash and Cost of FC debt figures as of YTD March2012

CASH & CASH EQUIVALENTS SPLIT (TRY MILLION)

TRY 4,143 68%

FC 1,915 32%

TOTAL DEBT SPLIT (TRY MILLION)

FC 3,359 100%

Return on TRY cash: 11.6%

Return on FC cash: 5.1%

Cost of FC debt:3.5%

Source: Global wireless matrix and company announcements

0%

5%

10%

15%

20%

25%

30%

35%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Turkcell Emerging Europe

Turkcell Average: 14.1% Emerging Europe average: 18.2%

Between 2001 and 2011

including 3G license fee (TRY0.8bn)

40

TURKCELL GROUP AVERAGE CAPEX/SALES RATIO

118 250

509 567 648

1,098

859

1,329

78 182

342 411 502

713 574

850

2003 2004 2005 2006 2007 2008 2009 2010

TRY (millions) USD (millions)

0.236 0.170

0.275 0.258 0.295

0.499

0.391

0.604

2003 2004 2005 2006 2007 2008 2009 2010

2.47% 1.77%

2.87% 2.69% 3.08%

5.21%

4.08%

2003 2004 2005 2006 2007 2008 2009

50% 50% 50%

65%

50% 50% 50%

75%

2003 2004 2005 2006 2007 2008 2009 2010

Please note that the Board of Directors’ recommendation to distribute a dividend of 75% from the fiscal year 2010 profits was not approved in the EGM dated October 12, 2011.

CASH DIVIDENDS CASH DIVIDENDS PER SHARE

DIVIDEND YIELD DIVIDEND PAYOUT RATIO

TURKCELL GROUP DIVIDEND DISTRIBUTION

41

APPENDIX

ARPU VS. GDP PER CAPITA ($)

0

10

20

30

40

50

60

0 20,000 40,000 60,000 80,000

Israel

Germany Hungary

Austria Denmark

France

Turkey

Sweden

Switzerland

Czech

India

Belgium UK

AR

PU

GDP per Capita

China

Netherlands

28.4

11.9 10.8

Europe EEMEA Turkey

ARPU COMPARISON ($)

0%

10%

20%

30%

40%

50%

Q1

07

Q2

07

Q3

07

Q4

07

Q1

08

Q2

08

Q3

08

Q4

08

Q1

09

Q2

09

Q3

09

Q4

09

Q1

10

Q2

10

Q3

10

Q4

10

Q1

11

Q2

11

Q3

11

Q4

11

Europe Turkcell

SHARE OF POSTPAID IN TOTAL

Upside potential for key performance indicators

• ARPU: Europe $28.4 vs Turkcell $10.8

• Post-Paid share: Europe 46% vs Turkcell 34%

43

TELECOMMUNICATIONS SECTOR GROWTH POTENTIAL

43% 39%

13%

31%

46%

EmergingMarkets

Europe Turkey excl.Turkcell

Turkcell Turkeyreported

Turkcell Turkeyexcl. treasury

share*

EBITDA MARGIN 2011 (%)

*Under our license agreement, we pay the Turkish Treasury a monthly treasury share (including universal service fund) equal to 15% of our gross revenue

Source: BofAML Global Wireless Matrix Q411; Data as of 2011

Impact of 15% treasury share*

in Turkey

TURKCELL TURKEY HIGHER EFFICIENCY COMPARED TO PEERS

44

TURKEY IN THE NEW WORLD