Strong Growth Supported by Our Strategic Focus Areas

Turkcell (NYSE:TKC) (BIST:TCELL):

Please note that all financial data is consolidated and comprises that of Turkcell İletişim Hizmetleri A.S. (the "Company" or "Turkcell") and its subsidiaries and associates (together referred to as the "Group") unless otherwise stated.
We have three reporting segments:
- "Turkcell Türkiye," which comprises our telecom, digital services, and digital business services related businesses, retail channel operations, smart devices management, and consumer electronics sales through digital channels in Türkiye. All non-financial data presented in this press release is unconsolidated and comprises Turkcell Türkiye only unless otherwise stated. The terms "we," "us," and "our" in this press release refer only to Turkcell Türkiye, except in discussions of financial data, where such terms refer to the Group, and except where context otherwise requires.
- "Techfin" which comprises all of our financial services businesses.
- "Other" which primarily comprises our international, energy businesses, non-group call center, and intersegment eliminations.

This press release provides a year-on-year comparison of our key indicators. Figures in parentheses following the operational and financial results for March 31, 2026, refer to the same item as of March 31, 2025. For further details, please refer to our consolidated financial statements and notes as of and for March 31, 2026, accessible via our website in the investor relations section (www.turkcell.com.tr).
Selected financial information presented in this press release for the first quarter of 2025 and 2026 is based on IFRS figures in TRY terms unless otherwise stated.
In the tables used in this press release, totals may not foot due to rounding differences. The same applies to the calculations in the text.
Year-on-year percentage comparisons in this press release reflect mathematical calculations.

NOTICE

This press release contains the Company's financial information for the period ended March 31, 2026, prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). This press release contains the Company's financial information prepared in accordance with International Accounting Standard 29, Financial Reporting in Hyperinflationary Economies ("IAS29"). Therefore, the financial statement information included in this press release for the periods presented is expressed in terms of the purchasing power of the Turkish Lira as of March 31, 2026. The Company restated all non-monetary items in order to reflect the impact of the inflation restatement reporting in terms of the measuring unit current as of March 31, 2026. Comparative financial information has also been restated using the general price index of the current period.

This release includes forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, Section 21E of the U.S. Securities Exchange Act of 1934, and the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. This includes, in particular, and without limitation, our targets for consolidated revenue growth, data center and cloud revenue growth, EBITDA margin, and operational capex over sales ratio for the full year 2026. In establishing such guidance and outlooks, the Company has used a certain number of assumptions regarding factors beyond its control, particularly in relation to macroeconomic indicators, such as expected inflation levels, that may not be realized or achieved. More generally, all statements other than statements of historical facts included in this press release, including, without limitation, certain statements regarding our operations, financial position, and business strategy, may constitute forward-looking statements. Forward-looking statements can generally be identified by the use of forward-looking terminology such as, among others, "will," "expect," "intend," "estimate," "believe," "continue," and "guidance."

Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. In addition, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Many factors could cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements that may be expressed or implied by forward-looking statements. Should one or more of these risks or uncertainties materialize or underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended, planned, or projected.

These forward-looking statements are based upon a number of assumptions and other important factors that could cause our actual results, performance, or achievements to differ materially from our future results, performance, or achievements expressed or implied by such forward-looking statements. All subsequent written and oral forward-looking statements attributable to us are expressly qualified in their entirety by reference to these cautionary statements. For a discussion of certain factors that may affect the outcome of such forward- looking statements, see our Annual Report on Form 20-F for 2025 filed with the U.S. Securities and Exchange Commission, and in particular, the risk factor section therein. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release. All forward-looking statements in this press release are based on information currently available to the Company, and we undertake no duty to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

The Company makes no representation as to the accuracy or completeness of the information contained in this press release, which remains subject to verification, completion, and change. No responsibility or liability is or will be accepted by the Company or any of its subsidiaries, board members, officers, employees, or agents as to or in relation to the accuracy or completeness of the information contained in this press release or any other written or oral information made available to any interested party or its advisers.

FINANCIAL HIGHLIGHTS

TRY million	Q125	Q126	*y/y%*
Revenue	62,767	68,377	8.9%
EBITDA¹	27,428	28,300	3.2%
EBITDA Margin (%)	43.7%	41.4%	(2.3pp)
EBIT²	10,749	10,439	(2.9%)
EBIT Margin (%)	17.1%	15.3%	(1.9pp)
Net Income	4,033	4,634	14.9%

HIGHLIGHTS

The Annual General Assembly Meeting for the 2025 fiscal year took place on May 7, 2026. For the results, please click here.
Consistent with the Company's uninterrupted dividend distribution practice since 2016, the General Assembly approved a gross dividend distribution of TRY 8.8 billion from 2025 distributable income, corresponding to a gross dividend of TRY 4.00 (net TRY 3.40) per ordinary share with a nominal value of TRY 1. The dividend will be paid in cash on December 9, 2026.
As of March 31, 5G has gone live in Türkiye, marking a new phase in the country's digital transformation. Supported by its superior spectrum capacity and network capabilities, Turkcell has begun rolling out high-speed 5G services across 81 provinces.
To support the Company's investments in 5G and other next-generation communication technologies, a USD 1 billion Murabaha syndicated loan was secured in March. With its competitive 7-year maturity, this transaction also represents one of the largest corporate Murabaha syndications ever executed by a Turkish company, marking an important milestone for both Turkcell and the broader Turkish corporate financing market. We believe that the strong participation from international lenders underscores their confidence in our strong balance sheet and resilient financial performance.
Strong growth driven by corporate revenues and Paycell;
- Steady top-line growth of 8.9% YoY to TRY 68.4 billion, driven by strong corporate performance. Increased hardware sales, alongside continued growth in the Data Center & Cloud business were the main contributors, while Paycell continued to support Group revenues.
- EBITDA¹ increased by 3.2%, leading to an EBITDA margin of 41.4%; EBIT² was down by 2.9% due to increased investments, resulting in an EBIT margin of 15.3%.
- Despite an increased tax burden, net income grew by 14.9% to TRY 4.6 billion, primarily driven by higher monetary gains from capitalization of the 5G license and a positive contribution from equity accounted investees.
- Net leverage³ level was at 0.42x; net short FX position increased to US$1.2 billion mainly due to the 5G tender, reflecting a selective hedging approach considering prevailing hedging costs. Medium-term net FX target range – USD1.5bn to +USD1.5bn.

Solid subscriber performance with a sustained postpaid and fiber focus
- 661 thousand mobile postpaid net additions, postpaid subscriber base share at 81%
- 36 thousand fiber net additions including resell operations
- Accelerated Superbox subscriber acquisition with 38 thousand net additions
- 138 thousand new fiber homepasses in Q126, bringing total to 6.5 million
- Resilient residential fiber ARPU growth of 9.7%

(1) EBITDA is a non-GAAP financial measure. See page 14 for the explanation of how we calculate Adjusted EBITDA and its reconciliation to net income.

(2) EBIT is a non-GAAP financial measure and is equal to EBITDA minus depreciation and amortization expenses.

(3) Our net debt calculation includes financial assets at fair value, whether through other comprehensive income or through profit and loss, reported under current and non-current assets, as well as financial assets at amortized cost. Required reserves held in CBRT balances are not included in total cash and net debt calculation.

COMMENTS BY CEO, ALİ TAHA KOÇ, PhD

The first quarter of 2026 marked a historic milestone in Türkiye's digital transformation journey. At Turkcell, we proudly introduced Türkiye to 5G in Turkcell quality, backed by our 32 years of technology leadership, strong infrastructure investments, and innovative vision. With the launch of 5G, we not only advanced communication standards but also paved the way for a next-generation digital infrastructure. This infrastructure will enhance our country's competitiveness across many sectors, from industry to healthcare and from education to transportation. With the widest frequency bandwidth, our high-capacity network architecture, strong fiber infrastructure, and data centers, we made a strong start to this new era. Following the successful completion of our 5G preparation and tender processes, we launched a large-scale advertising campaign with a world-renowned celebrity. The strong interest in our "5-fold" campaign, launched to celebrate the 5G era, within a very short period clearly demonstrated our subscribers' excitement for the next-generation connectivity experience. It also showed that the 5G experience we offer resonates strongly across all segments of society.

This new era, ushered in by 5G, has brought to the forefront not only our strong technological infrastructure but also our long-term investment vision and financial flexibility. While we continue to pursue investments that will shape Türkiye's digital future with determination, our ability to access international financing sources has been a key enabler of our strategy. The USD 1 billion Murabaha syndicated loan we secured to support investments in 5G transformation and other next-generation connectivity technologies, once again confirmed global investors' confidence in our Company's vision and strong financial structure. Moreover, this transaction was recorded as the largest corporate Murabaha syndicated loan ever executed by a Turkish company.

We completed the first quarter with strong financial results. Our consolidated revenues reached TRY 68.4 billion, increasing by 8.9% year-on-year. Digital Business Services (DBS) and Paycell continued to outperform the Group. Consolidated EBITDA¹ increased by 3.2% to reach TRY 28.3 billion, while the EBITDA margin remained healthy at 41.4%. Our net profit increased by 14.9% to TRY 4.6 billion.

Leadership in digital transformation: 5G-enabled solutions and new speed standards

We experienced a quarter in which market dynamics rationalized compared with previous quarters. Thanks to our customer-focused approach, strong infrastructure, and innovative offerings, we closed the first quarter with positive results in Mobile Number Portability (MNP). Our total mobile subscriber base also expanded with a net addition of 655 thousand subscribers. Our postpaid subscriber base, which is at the core of our sustainable value creation strategy, maintained its steady growth with a net addition of 661 thousand, reaching a postpaid subscriber share of 81%. Supported by the increase in the postpaid subscriber share and our strong performance in upselling subscribers, mobile ARPU (excluding M2M) remained resilient. This was despite limited pricing adjustments in an intensely competitive environment of the previous year and persistently high inflation.

With Superbox 5G, we launched the era of fiber-speed internet in regions not yet covered by our fiber infrastructure, supported by ultra-powerful Wi-Fi 7 modem capability. With this momentum, our Superbox subscriber base reached 754 thousand, with a net addition of 38 thousand. In addition, with our portable "Superbox GO" modem, we began offering our customers a truly location and cable independent, flexible 5G connectivity experience.

By declaring 2026 as the "Year of Speed", we also redefined the rules of the game on the fixed side. With our Superonline UltraFiber packages, supported by Wi-Fi 7 technology for the first time in Türkiye, we became the first and only operator to offer home internet speeds of up to 10 Gbps to our subscribers. In the first quarter of the year, we achieved a total of 36 thousand net fiber subscriber additions, including our resell portfolio, of which 21 thousand came from Turkcell fiber. In line with our fiber-focused profitable growth strategy, our DSL and cable subscriber base continued to decline. Supported by sustained demand for high-speed packages and our strong focus, the share of our fiber subscribers with speeds of 1,000 Mbps and above increased to approximately 20% of our total residential fiber subscribers. Driven by our strategy of migrating subscribers to higher-tier packages, pricing adjustments, and the contribution of our IPTV service, residential fiber ARPU grew by 9.7% year-on-year.

With our continued fixed infrastructure investments in the first quarter, we expanded our Turkcell fiber footprint by an additional 138 thousand homepasses, bringing the total to 6.5 million. Our take-up rate reached 41.8%.

Consistent growth in our strategic focus areas

Paycell, which is the main growth engine of our Techfin business, continued to grow above the Group average despite a high base effect. Paycell revenues increased by 15%, driven by strong momentum in the POS and mobile payment segments. On the other hand, Financell's revenues declined as ongoing installment limitations constrained growth in new loan volumes. However, its Net Interest Margin (NIM) expanded significantly to 8.3%, up by 3.6 points compared with the same period last year. Total revenue growth in the Techfin segment was at 4%.

DBS made a very strong start to 2026. Rising hardware revenues, supported by increasing corporate projects, together with the 21% growth in our data center and cloud business, drove a 64% year-on-year increase in DBS revenues.

Sustainability vision reinforced by international achievements

By positioning sustainability among our strategic priorities, we carefully consider the environmental and social impact of all our business processes. We move forward with the goal of reducing our environmental footprint and increasing efficiency through our investments in this area. In line with our sustainability targets, we are increasing our capacity by investing in our own solar power plants, while also evaluating inorganic growth opportunities through strategic acquisitions. We completed the acquisition of a 12.1 MW solar power plant in Mersin in April. Following this acquisition, our total active solar energy capacity reached 74.4 MW.

Another development that boosted our motivation in our sustainability efforts was the global recognition of our environmental performance, as reflected in the "Global A" score we received under the CDP Climate Change Program.

This quarter, we also published our 2025 sustainability report in compliance with TSRS. Within the scope of the report, we addressed climate-related risks and opportunities in a holistic manner. We also expanded the scope of our environmental performance by reporting our water footprint for the first time this year. We believe that these efforts have reinforced our alignment with national regulations and global climate targets, while also strengthening our engagement with our stakeholders.

Turkcell's signature on global platforms

We successfully represent our country and our sector on international platforms. At the Mobile World Congress (MWC 2026), the model we developed with industry stakeholders to block international fraudulent calls, which has prevented millions of fraud attempts on our network to date was selected by the GSMA as a best practice. In line with our vision of driving innovation in the sector, we also entered into strategic partnerships to carry out R&D activities on 6G and next-generation network technologies at MWC 2026.

As Türkiye's Turkcell, I sincerely thank my dedicated colleagues who contribute to every step we take with the motivation to move our country forward, as well as our Board of Directors, shareholders, and business partners for their support.

(1) EBITDA is a non-GAAP financial measure. See page 14 for the explanation of how we calculate Adjusted EBITDA and its reconciliation to net income

FINANCIAL AND OPERATIONAL REVIEW OF FULL YEAR

Financial Review of Turkcell Group

Profit & Loss Statement (million TRY)	Quarters
Profit & Loss Statement (million TRY)	Q125	Q126	*y/y%*
Revenue	62,766.5	68,377.0	*8.9%*
Cost of revenue¹	(28,259.3)	(32,195.8)	13.9%
Cost of revenue¹/Revenue	(45.0%)	(47.1%)	*(2.1pp)*
Gross Margin¹	55.0%	52.9%	*(2.1pp)*
Administrative expenses	(2,617.7)	(2,979.3)	13.8%
Administrative expenses/Revenue	(4.2%)	(4.4%)	*(0.2pp)*
Selling and marketing expenses	(4,207.3)	(4,542.8)	8.0%
Selling and marketing expenses/Revenue	(6.7%)	(6.6%)	*0.1pp*
Net impairment losses on financial and contract assets	(253.9)	(359.2)	41.5%
EBITDA²	27,428.3	28,299.8	*3.2%*
EBITDA Margin	43.7%	41.4%	*(2.3pp)*
Depreciation and amortization	(16,679.6)	(17,860.5)	7.1%
EBIT³	10,748.7	10,439.3	*(2.9%)*
EBIT Margin	17.1%	15.3%	*(1.9pp)*
Net finance income / (costs)	(468.6)	1,569.2	n.m
Finance income	5,177.3	3,730.4	(27.9%)
Finance costs	(6,900.7)	(7,625.9)	10.5%
Monetary gain	1,254.8	5,464.7	335.5%
Net other income / (expenses)	(588.4)	(427.4)	(27.4%)
Share of profit of equity accounted investees	(1,130.7)	305.5	n.m
Profit Before Income Tax	8,560.9	11,886.6	*38.8%*
Income tax expense	(4,527.5)	(7,252.2)	60.2%
Net Income	4,033.4	4,634.4	*14.9%*

(1) Excluding depreciation and amortization expenses.

(2) EBITDA is a non-GAAP financial measure. See page 14 for the explanation of how we calculate Adjusted EBITDA and its reconciliation to net income.

(3) EBIT is a non-GAAP financial measure and is equal to EBITDA minus depreciation and amortization expenses.

Revenue of the Group grew by 8.9% year-on-year, reaching TRY68,377 million (TRY62,767 million) in Q126. This growth was primarily driven by the robust performance of Turkcell Türkiye, mainly attributable to corporate revenues.

In the first quarter, Turkcell Türkiye revenues, representing 90% of Group top-line, increased by 8.6% to TRY61,877 million (TRY56,957 million).

- Corporate revenues recorded solid growth of 34%, largely driven by Digital Business Services, which delivered 64% revenue growth thanks to higher hardware revenues through successful execution of large-scale projects. Data Center & Cloud revenues also posted a remarkable 21.0% year-on-year growth.

- Consumer segment recorded a more moderate growth of 2.6%. This performance was underpinned by the expansion of our postpaid subscriber base and strong fixed ARPU performance. Conversely, mobile ARPU (excluding M2M) remained broadly flat this quarter, reflecting the continued impact of last year's intense competitive pricing environment and persistently high inflation.

- Wholesale revenues recorded a growth of 7.9% to TRY2,535 million (TRY2,350 million).

Techfin segment revenues, accounting for 5% of Group revenues, grew by 4.0% to TRY3,740 million (TRY3,594 million). The driver of this growth was Paycell business. Please refer to the Techfin section for details.

Other segment revenues, comprising 4% of Group revenues, which mostly includes Turkcell International revenues, energy business revenues and non-group call center revenues, rose 24.6% to TRY2,760 million (TRY2,215 million).

Cost of revenue (excluding depreciation and amortization) increased to 47.1% (45.0%) as a percentage of revenues for the first quarter of 2026. This was driven mainly by the increase in cost of goods sold (3.7pp), radio expenses (0.4pp), personnel expenses (0.3pp), and other cost items (0.2pp), despite the decline in funding costs (0.8pp), energy costs (0.7pp), treasury share (0.7pp) and interconnection costs (0.4pp) as a percentage of revenues.

Administrative expenses increased slightly to 4.4% (4.2%) as a percentage of revenues this quarter, primarily driven by personnel expenses.

Selling and marketing expenses as a percentage of revenue remained broadly stable at 6.6% (6.7%), despite higher 5G-related marketing expense. The increase in marketing expenses was offset by the slower growth in personnel expenses relative to top-line expansion.

Net impairment losses on financial and contract assets were at 0.5% (0.4%) as a percentage of revenues in Q126.

EBITDA¹increased by 3.2% year-on-year in Q126 leading to an EBITDA margin of 41.4% (43.7%).

- Turkcell Türkiye EBITDA was up by 1.3% to TRY26,282 million (TRY25,957 million), resulting in an EBITDA margin of 42.5% (45.6%).

- Techfin segment EBITDA increased by 30.3% to TRY1,223 million (TRY938 million), representing a 6.6pp robust expansion in EBITDA margin to 32.7% (26.1%). This favorable margin performance was primarily attributable to Financell's improved funding costs through FX loan utilization. However, the strong momentum of the Paycell POS business limited the overall Techfin margin expansion.

- The EBITDA of Other was at TRY795 million (TRY533 million).

Depreciation and amortization expenses increased by 7.1%, amounting to TRY17,861 million (TRY16,680 million).

Net finance income reached TRY1,569 million (TRY469 million cost) in Q126. This strong improvement was attributable to higher monetary gains arising from the capitalization of 5G license. Excluding monetary gains, net finance costs rose due to a higher net short FX position led by increased foreign currency liabilities linked to 5G.

See Appendix A for details of net foreign exchange gain and loss.

Net Other expenses were at TRY427 million (TRY588 million) in Q126.

Income tax expense increased to TRY7,252 million (TRY4,528 million). Please recall that inflation accounting was discontinued in the 2025 statutory financial statements, and its impact became visible in our financials starting from Q4 2025. This continued to be the main driver of the higher income tax expense in Q1 2026. In addition, only limited fixed asset revaluation was performed during the period, which provided a limited offset against the adverse tax impact. This increase in the tax expense during the quarter was primarily attributable to deferred tax expense, while the impact of cash tax payments remained limited.

Net income of the Group increased by 14.9% to TRY4,634 million (TRY4,033 million) in Q126. This improvement resulted from substantial monetary gain registered in the first quarter along with improved contribution from TOGG. Profit before income tax grew by 38.8% year on year to TRY11,887 million (TRY8,561 million), driven by strong operational performance and diciplined balance sheet management.

(1) EBITDA is a non-GAAP financial measure. See page 14 for the explanation of how we calculate adjusted EBITDA and its reconciliation to net income.

Total cash & debt: Consolidated cash as of March 31, 2026 decreased to TRY95,773 million from TRY101,048 million as of December 31, 2025. This decline was primarily attributable to the first installment of the 5G license payment, including VAT, totaling USD653 million, together with the TRY3.2 billion Wireless Usage Fee, which is paid in the first quarter of each year, as well as bonus payments to employees. 57% of our cash is in US$, 20% in EUR, and 23% in TRY. Excluding FX swap transactions, 71% of our cash is in US$ and 29% in EUR. Alongside these sizeable cash outflows, we reinforced our liquidity position through a USD 1 billion Murabaha syndicated loan, further strengthening our financial flexibility and balance sheet resilience. Accordingly, consolidated debt as of March 31, 2026, increased to TRY206,347 million from TRY174,578 million as of December 31, 2025. Note that TRY16,230 million of our consolidated debt comprises lease obligations. After hedging transactions, 64% of our consolidated debt is in US$, 24% in EUR, 5% in CNY, and 7% in TRY. Due to cash disbursements, as of March 31, 2026, net debt¹ increased to TRY48,827 million from TRY16,383 million as of December 31, 2025, with a net debt to EBITDA ratio of 0.42x.

We continued to manage the Group's net FX position proactively, taking into account prevailing hedging costs and the relatively stable FX environment. Accordingly, we maintained our medium-term net FX target range of between minus USD1.5 billion and plus USD1.5 billion. As of quarter-end, the Group's short net FX position stood at US$1.2 billion, including the hedging portfolio and advance payments.

Capital expenditures, including non-operational items, increased to TRY76,583 million in Q126, mainly driven by the 5G license amounting to USD1.2 billion (excluding VAT). Operational capital expenditures (excluding license fees) at the Group level were at 21.5% of total revenues.

Capital expenditures (million TRY)	Quarters
Capital expenditures (million TRY)	Q125	Q126
Operational Capex	12,685.7	14,668.8
License and Related Costs	12.1	55,921.5
Non-operational Capex (Including IFRS15 & IFRS16)	8,393.2	5,992.3
IFRS15	2,574.3	2,437.7
IFRS16	4,007.1	3,525.3
Other	1,811.8	29.3
Total Capex	21,090.9	76,582.6

(1) Our net debt calculation includes financial assets at fair value, whether through other comprehensive income or through profit and loss, reported under current and non-current assets, as well as financial assets at amortized cost. Required reserves held in CBRT balances are not included in total cash and net debt calculation.

Operational Review of Turkcell Türkiye

Summary of Operational Data	Quarters
Summary of Operational Data	Q125	Q425	Q126	*y/y %*	*q/q %*
Number of subscribers¹ (million)	43.1	43.9	44.5	*3.2%*	*1.4%*
Mobile Postpaid (million)	29.3	31.5	32.2	9.9%	2.2%
Mobile M2M (million)	5.3	5.9	6.2	17.0%	5.1%
Mobile Prepaid (million)	9.0	7.6	7.6	(15.6%)	-
Turkcell Fiber (thousand)	2,484.4	2,573.6	2,594.9	4.4%	0.8%
Resell Fixed Broadband (thousand)	774.2	712.9	687.4	(11.2%)	(3.6%)
ADSL (thousand)	721.8	611.4	573.3	(20.6%)	(6.2%)
Cable (thousand)	33.1	25.7	23.3	(29.6%)	(9.3%)
Fiber (thousand)	19.3	75.8	90.9	371.0%	19.9%
Superbox² (thousand)	660.0	716.1	754.1	14.3%	5.3%
IPTV (thousand)	1,456.3	1,430.5	1,423.2	(2.3%)	(0.5%)
Churn (%)³
Mobile Churn (%)	1.7%	2.7%	1.6%	(0.1pp)	(1.1pp)
Fixed Churn (%)	1.4%	1.8%	1.6%	0.2pp	(0.2pp)
Average mobile data usage per user (GB/user)	17.9	21.8	22.5	*25.7%*	*3.2%*

(1) Including mobile, fixed broadband, IPTV, and wholesale (MVNO&FVNO) subscribers

(2) Superbox subscribers are included in mobile subscribers.

(3) Churn figures represent average monthly churn figures for the respective periods.

ARPU (Average Monthly Revenue per User) (TRY) (TRY, IAS29 Adjusted)	Quarters
	Q125	Q425	Q126	*y/y %*	*q/q %*
Mobile ARPU, blended	371.6	379.5	363.2	(2.3%)	(4.3%)
Mobile ARPU, blended (excluding M2M)	425.4	439.5	423.8	(0.4%)	(3.6%)
Postpaid	427.9	430.9	408.0	(4.7%)	(5.3%)
Postpaid (excluding M2M)	514.2	521.9	496.6	(3.4%)	(4.8%)
Prepaid	191.9	183.6	173.7	(9.5%)	(5.4%)
Fixed Residential ARPU, blended	486.5	552.4	545.9	12.2%	(1.2%)
Residential Fiber ARPU	493.4	547.1	541.1	9.7%	(1.1%)

Our total subscriber base expanded by 642 thousand in Q126, reaching 44.5 million thanks to segment-based offers that provide customers with tailored alternatives. In the postpaid segment, net additions reached 661 thousand, leading to our strongest total mobile net additions over the past 14 quarters. This brought the share of postpaid subscribers in the total mobile base to 81%, exceeding 32 million. We observed an improvement in mobile churn, which declined by 1.1pp compared with Q425 and by 0.1pp versus Q125, thanks to effective churn management and a relatively rationalized market environment. In the prepaid segment, we saw a notable moderation in net subscriber losses this quarter unlike in previous quarters, supported by our customer-centric tariffs and fewer tourist-related disconnections.

Mobile ARPU (excluding M2M) remained broadly flat, declining by 0.4% year-on-year, mainly due to the lagged impact of last year's record-high competitive environment and persistently elevated inflation.

On the fixed side, our subscriber base declined slightly in Q1 2026, recording a net loss of 4 thousand, mainly due to our reduced focus on the ADSL segment. In the fiber segment, we maintained strong momentum in Turkcell fiber, achieving 21 thousand net additions in the quarter and 111 thousand on a yearly basis, supported by continued demand for high-speed connectivity. Residential fiber ARPU increased by 9.7% year-on-year, mainly driven by active upselling and pricing actions, and the growing contribution of our IPTV offering. As part of our "Technology Leadership in Türkiye" strategy, we launched our "UltraFiber" packages in March, offering ultra-high-speed connectivity to households for the first time in Türkiye with download speeds of 2, 5, and 10 Gbps.

In line with our fiber-focused strategy, we continued expanding our infrastructure footprint by adding 138 thousand new homepasses, reaching a total of 6.5 million, with the take-up rate at 41.8%.

TECHFIN

Paycell Financial Data (million TRY)	Quarters
	Q125	Q126	*y/y%*
Revenue	1,819.0	2,096.4	*15.3%*
EBITDA	713.9	667.3	(6.5%)
EBITDA Margin (%)	39.2%	31.8%	*(7.4pp)*
Net Income	243.4	252.0	3.5%

Paycell continued its steady growth trajectory as the primary performance contributor in the techfin segment, recording a 15.3% year-on-year increase in revenues. POS solutions and mobile payments were the main drivers of this performance in this quarter. Among all business lines, POS solutions delivered the strongest growth, as revenues grew by 37% year-on-year. This robust revenue performance was supported by broadening transaction volumes, particularly in physical POS, which recorded 150.4% year-over-year volume expansion. Furthermore, non-group revenues continued to gain prominence, with their share of total revenues increasing to 83%, mainly driven by rising number of users. As the POS business accounted for a larger share of the revenue mix, EBITDA margin declined by 7.4 percentage points to 31.8%.

Total transaction volume reached TRY55.5 billion, marking a 46.4% year-on-year increase. In addition to strong POS performance, Pay Later and QR Code contributed to the volume growth during the quarter. Pay Later strategic Services active users¹ reached 3.3 million as of Q126.

Financell Financial Data (million TRY)	Quarters
	Q125	Q126	*y/y%*
Revenue	1,645.4	1,478.9	*(10.1%)*
EBITDA	260.9	578.3	121.7%
EBITDA Margin (%)	15.9%	39.1%	*23.2pp*
Net Income/(Loss)	(13.2)	149.5	n.m

Financell's revenues contracted on a yearly basis due to ongoing installment limitations. The EBITDA margin improved to 39.1%, driven by lower funding costs while net income reached TRY149.5 million in this quarter.

Financell maintained its leadership position in financing sector holding a 44% market share² by number loans. The company also captured a 9.9% market share in loans below TRY20,000 in banking and financing sector combined.

Financell's loan portfolio reached TRY8.4 billion as of Q126, with 0.6 million active customers. There is significant market potential for Financell should regulatory conditions evolve favorably in line with macroeconomic dynamics, including potential increases in loan limits, which could in turn support Financell's revenue growth.

(1) Unique customers who have utilized the "Pay Later" feature for digital service payments—including App Store, Google Play, and QR transactions—at least once within the preceding three-month period

(2) Source: Association of Financial Institutions, as of Q425

TURKCELL GROUP SUBSCRIBERS

As of March 31, 2026, the Turkcell Group had approximately 46.7 million registered subscribers. This figure is calculated by taking the number of subscribers of Turkcell Türkiye and of each of our subsidiaries. It includes the total number of mobile, fiber, ADSL, cable and IPTV subscribers of Turkcell Türkiye, BeST's mobile subscribers and Kuzey Kıbrıs Turkcell's mobile and fixed subscribers.

Turkcell Group Subscribers	Q125	Q126	*y/y%*
Turkcell Türkiye subscribers¹ (million)	43.1	44.5	*3.2%*
BeST (Belarus)	1.5	1.5	-
Kuzey Kıbrıs Turkcell	0.6	0.7	16.7%
Turkcell Group Subscribers (million)	45.2	46.7	*3.3%*

(1) Subscribers to more than one service are counted separately for each service. Including mobile, fixed broadband, IPTV, and wholesale (MVNO&FVNO) subscribers.

OVERVIEW OF THE MACROECONOMIC ENVIRONMENT

The foreign exchange rates used in our financial reporting, along with certain macroeconomic indicators, are set out below.

	Quarters
	Q125	Q425	Q126	*y/y%*	*q/q%*
GDP Growth (Türkiye)	2.5%	3.4%	*n.a*	*n.a*	*n.a*
Consumer Price Index (Türkiye)(yoy)	38.1%	30.9%	30.9%	*(7.2pp)*	-
US$ / TRY rate
Closing Rate	37.7656	42.8623	44.3841	17.5%	3.6%
Average Rate	36.1936	42.1450	43.5882	20.4%	3.4%
EUR / TRY rate
Closing Rate	40.7019	50.4532	51.0236	25.4%	1.1%
Average Rate	38.0036	49.0734	51.3794	35.2%	4.7%
US$ / BYN rate
Closing Rate	3.1176	2.9027	2.9508	(5.4%)	1.7%
Average Rate	3.2953	2.9521	2.8762	(12.7%)	(2.6%)

RECONCILIATION OF NON-GAAP FINANCIAL MEASUREMENTS:

We believe that Adjusted EBITDA, among other key metrics, facilitates performance comparisons from period to period and management decision making. It also enables performance comparisons between companies. Adjusted EBITDA as a performance measure eliminates potential differences caused by variations in capital structures (affecting interest expense), tax positions (such as the impact of changes in effective tax rates on periods or companies) and the age and book depreciation of tangible and intangible assets (affecting relative depreciation expense and amortization expense). We also present Adjusted EBITDA because we believe it is frequently used by securities analysts, investors and other interested parties in evaluating the performance of other mobile operators in the telecommunications industry in Europe, many of which present Adjusted EBITDA when reporting their results.

Our Adjusted EBITDA definition includes Revenue, Cost of Revenue excluding depreciation and amortization, Selling and Marketing expenses, Administrative expenses and Net impairment losses on financial and contract assets, but excludes finance income and expense, other operating income and expense, investment activity income and expense, share of profit of equity accounted investees and minority interest.

Nevertheless, Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation from, or as a substitute for, analysis of our results of operations, as reported under IFRS. The following table provides a reconciliation of Adjusted EBITDA, as calculated using financial data prepared in accordance with IFRS to net profit, which we believe is the most directly comparable financial measure calculated and presented in accordance with IFRS.

Turkcell Group (million TRY)	Quarters
	Q125	Q126	*y/y%*
Consolidated net profit	4,033.4	4,634.4	*14.9%*
Income tax expense	(4,527.5)	(7,252.2)	60.2%
Consolidated profit before income tax	8,560.9	11,886.6	*38.8%*
Share of profit of equity accounted investees	(1,130.7)	305.5	n.m
Finance income	5,177.3	3,730.4	(27.9%)
Finance costs	(6,900.7)	(7,625.9)	10.5%
Monetary gain	1,254.8	5,464.7	335.5%
Other expenses	(588.4)	(427.4)	(27.4%)
EBIT	10,748.7	10,439.3	*(2.9%)*
Depreciation and amortization	(16,679.6)	(17,860.5)	7.1%
Adjusted EBITDA	27,428.3	28,299.8	*3.2%*

RECONCILIATION OF ARPU: ARPU is an operational metric and the methodology for calculating performance measures such as ARPU varies substantially among operators and is not standardized across the telecommunications industry, and reported performance measures thus vary from those that may result from the use of a single methodology. Management believes this metric is helpful in assessing the development of our services over time. The following table shows the reconciliation of Turkcell Türkiye revenues to such revenues included in the ARPU calculations for Q125 and Q126.

Reconciliation of ARPU	Q125	Q126
Turkcell Türkiye Revenue (million TRY)	56,957.1	61,877.2
Telecommunication services revenue	52,196.1	54,009.7
Equipment revenue	4,133.0	7,320.5
Other	627.9	547.0
Revenues which are not attributed to ARPU calculation¹	(9,358.2)	(13,395.0)
Turkcell Türkiye revenues included in ARPU calculation²	46,970.9	47,935.2
Mobile blended ARPU (TRY)	371.6	363.2
Average number of mobile subscribers during the year (million)	38.2	39.4
Fixed residential ARPU (TRY)	486.5	545.9
Average number of fixed residential subscribers during the year (million)	3.0	3.1

(1) Revenue from fixed corporate and wholesale business; digital business sales; tower business, and other non-subscriber-based revenues

(2) Revenues from Turkcell Türkiye included in ARPU calculation comprise telecommunication services revenue, equipment revenue and revenues which are not attributed to ARPU calculation.

ABOUT TURKCELL: Turkcell, headquartered in Türkiye, is a leading technology and telecommunications company offering a diverse portfolio of voice, data, and IPTV services across its mobile and fixed networks, alongside digital consumer, enterprise, and techfin solutions. The Turkcell Group operates in three countries: Türkiye, Belarus, and Northern Cyprus. In Q126, Turkcell Group reported revenue of TRY68.4 billion, with total assets of TRY618.2 billion as of March 31, 2026. Listed on both the NYSE and BIST since July 2000, Turkcell remains the only dual-listed company on these exchanges. Read more at www.turkcell.com.tr.

Appendix A – Tables

Table: Net foreign exchange gain and loss details

Million TRY	Quarters
	Q125	Q126	*y/y%*
Net FX loss before hedging	(2,333.7)	(3,178.9)	*36.2%*
Swap interest income/(expense)	150.6	94.1	(37.5%)
Fair value gain on derivative financial instruments	375.4	(1,465.0)	(490.3%)
Net FX gain / (loss) after hedging	(1,807.7)	(4,549.9)	*151.7%*

Table: Income tax expense details

Million TRY	Quarters
	Q125	Q126	*y/y%*
Current tax expense	(815.0)	(1,435.4)	76.1%
Deferred tax income / (expense)	(3,712.5)	(5,816.8)	56.7%
Income Tax expense	(4,527.5)	(7,252.2)	*60.2%*

	TURKCELL İLETİŞİM HİZMETLERİ A.Ş IFRS SELECTED FINANCIALS (TRY Million)


	3 Months	3 Months
	March 31	March 31
	2025	2026
Consolidated Statement of Operations Data
Turkcell Türkiye	56,957.1	61,877.2
Fintech	3,594.3	3,739.9
Other	2,215.2	2,759.9
TOTAL REVENUE	62,766.5	68,377.0
TOTAL COST OF REVENUE	(44,938.9)	(50,056.3)
TOTAL GROSS PROFIT	17,827.6	18,320.7
Administrative expenses	(2,617.7)	(2,979.3)
Selling & marketing expenses	(4,207.3)	(4,542.8)
Other income /(expense)	(588.4)	(427.4)
Net impairment loses on financial and contract assets	(253.9)	(359.2)
OPERATING PROFIT	10,160.2	10,011.9
Finance costs	(6,900.7)	(7,625.9)
Finance income	5,177.3	3,730.4
Monetary gain /(loss)	1,254.8	5,464.7
Share of loss of equity accounted investees	(1,130.7)	305.5
PROFIT BEFORE INCOME TAX	8,560.9	11,886.6
Income tax income /(expense)	(4,527.5)	(7,252.2)
PROFIT FOR THE YEAR	4,033.4	4,634.4
Owners of the Company	4,033.4	4,634.4

Basic and Diluted Earnings per Share for Profit Attributable to Owners of the Company (in full TL)	1.85	2.13
Basic and diluted earnings per share for profit from continuing operations attributable to owners of the Company (in full TL)	1.85	2.13

Other Financial Data
Gross margin	28.4%	26.8%
EBITDA (*)	27,428.3	28,299.8
EBITDA margin (*)	43.7%	41.4%
Total capex	21,091.1	76,582.6
Operational capex	12,685.7	14,668.8
Licence and related costs	12.1	55,921.5
Non-operational capex	8,393.2	5,992.3

Consolidated Balance Sheet Data	2025 YE	1Q26
Cash and cash equivalents	101,048.0	95,773.4
Total assets	550,831.2	618,151.4
Long term debt	135,055.4	168,063.1
Total debt	174,577.8	206,346.9
Total liabilities	265,460.6	327,242.2
Total equity	285,370.5	290,909.2

(*) Please refer to the notes on reconciliation of Non-GAAP Financial measures on page 14
For further details, please refer to our consolidated financial statements and notes as at March 31, 2026, on our website

	TURKCELL İLETİŞİM HİZMETLERİ A.Ş TURKISH ACCOUNTING STANDARDS SELECTED FINANCIALS (TRY Million)


	3 Months	Months
	March 31	March 31
	2025	2026
Consolidated Statement of Operations Data
Turkcell Türkiye	56,957.1	61,877.2
Fintech	3,594.3	3,739.9
Other	2,215.2	2,759.9
TOTAL REVENUE	62,766.5	68,377.0
DIRECT COST OF REVENUE	(44,938.9)	(50,056.3)
GROSS PROFIT	17,827.6	18,320.7
Administrative expenses (-)	(2,617.7)	(2,979.3)
Selling & marketing expenses (-)	(4,207.3)	(4,542.8)
Other operating income	11,608.5	2,848.2
Other operating expense (-)	(916.3)	(851.7)
OPERATING PROFIT	21,694.8	12,795.1
Income from investing activities	3,266.9	2,637.6
Expense from investing activities	(73.6)	(62.2)
Impairment losses determined in accordance with TFRS 9	(253.9)	(359.2)
Share of profit /(loss) of equity accounted investees	(1,130.7)	305.5
PROFIT BEFORE FINANCIAL INCOME /(EXPENSES)	23,503.4	15,316.7
Financial income	576.2	38.9
Financial expense (-)	(16,773.5)	(8,933.7)
Monetary gain /(loss)	1,254.8	5,464.7
PROFIT FROM CONTINUING OPERATIONS BEFORE TAX	8,560.9	11,886.6
Tax income /(expense) from continuing operations	(4,527.5)	(7,252.2)
PROFIT FROM CONTINUING OPERATIONS	4,033.4	4,634.4
PROFIT FOR THE PERIOD	4,033.4	4,634.4
Owners of the parent	4,033.4	4,634.4

Earnings per Share	1.85	2.13
Earnings per share from continuing operations	1.85	2.13

Other Financial Data
Gross margin	28.4%	26.8%
EBITDA (*)	27,428.3	28,299.8
EBITDA margin (*)	43.7%	41.4%
Total capex	21,091.1	76,582.6
Operational capex	12,685.7	14,668.8
Licence and related costs	12.1	55,921.5
Non-operational capex	8,393.2	5,992.3

Consolidated Balance Sheet Data	2025 YE	1Q26
Cash and cash equivalents	101,048.0	95,773.4
Total assets	550,831.2	618,151.4
Long term debt	135,055.4	168,063.1
Total debt	174,577.8	206,346.9
Total liabilities	265,460.6	327,242.2
Total equity	285,370.5	290,909.2

(*) Please refer to the notes on reconciliation of Non-GAAP Financial measures on page 14
For further details, please refer to our consolidated financial statements and notes as at March 31, 2026, on our website

View source version on businesswire.com: https://www.businesswire.com/news/home/20260511118095/en/

For further information, please contact Turkcell

Investor Relations

Tel: + 90 212 313 1888

investor.relations@turkcell.com.tr

Corporate Communications:

Tel: + 90 212 313 2321

Turkcell-Kurumsal-Iletisim@turkcell.com.tr

Turkcell Iletisim Hizmetleri: First Quarter 2026 Results