www.globaltower.com.tr GLOBAL TOWER AT A GLANCE Established in 2006 - PowerPoint PPT Presentation

Aydınevler Mahallesi No:20 Küçükyalı Ofis Park Maltepe, İstanbul Tel:0850 229 78 00 Fax: 0216 376 58 53 www.globaltower.com.tr

GLOBAL TOWER AT A GLANCE Established in 2006 as 100% subsidiary of Turkcell as Pioneer of infrastructure sharing Serves not only MNOs, but also broadcasters , ISPs , energy & public institutions Global Tower is the first and only In 2008, our subsidiary UkrTower has become Ukraine’s standalone towerco in Turkey sole independent towerco and one of the largest standalone In 2016, our subsidiary BelTower was established as towerco in Europe Belarus’s sole independent towerco With its more than 10.000 unique portfolio of sites in Turkey, Ukraine, Belarus and Turkish Republic of Northern Cyprus, Global Tower became a regional player 1

SCOPE FOR EXPANSION BOTH IN AND OUT OF EXISTING MARKETS GLOBAL TOWER BUSINESS MODEL Core Business Additional Services 3.471 TURKEY 1 st in Turkey Tower Co Fully Owned Contract Management 5 th in Europe Tower Co 15 th in Global Tower Co Buy&Lease Back With its more than 10.000 unique 2.376 portfolio of sites in four countries BELARUS TURKEY Passive & Active Maintenance Managed Sites UKRAINE 2.220 TURKEY Built to Suite Energy Solutions Contract Management 1.187 UKRAINE Site Search & Acquisition Fully Owned 830 TURKEY BELARUS Colocation 115 Right of Use/ Sublease Turkish Republic of Northern CYPRUS Site Inspection & Monitoring TURKISH REPUBLIC OF NORTHERN Right of Use CYPRUS 2 3

WHAT WE OFFER? OUR PORTFOLIO BY PRODUCT TYPE Tower Portfolio Consisting Purely of Greenfield Sites Services Description Lattice Towers Monopole Towers Totem Towers Mobile Towers Wind Towers Height Height Height Height Height Between 10 and Between 6 and 42 Between 10 and 42 Between 6 and 36 100 meters, with an meters, with an meters, with an meters, with an Developed as free • MNOs, ISPs, Radio&TV broadcasters, administrative bodies & ISPs average height of average height of average height of average height of standing towers, Tower 52 metres 28 metres 20 metres 25 metres carrying measuring • Only standalone licensed tower operator in Turkey and Ukraine instruments and Rental Antenna Capacity Antenna Capacity Antenna Capacity Antenna Capacity meteorological • Largest contributor to Global Tower’s revenues Between 3m 2 and Between 5m 2 and Between 3m 2 and Between 2m 2 and instruments 35m 2 25m 2 25m 2 6m 2 Camouflage Products Innovative Products • Tower infrastructure to MNOs, service integrators and technology service providers Build and • Site search & acquisition Sale Telescopic Tower Atlas Tower Composite Tower of Towers Flag Post Palm Tree • Technical & administrative services to launch new sites on a turn-key basis Clock Towers Totem Towers Engineering Services Towers Towers Contract • Ground lease contract management services to MNOs Management Res Tower Water Based Tower Portable Cat Walkaway Maintenance • Maintenance services for MNOs, broadcasters periodically Services • Tower dismantling services to MNOs for the towers in its portfolio Atlas & Spinning Wheel Tower with Safety Catch MultiRoom Shelter • Supply of active equipment for Radio&TV broadcasters Other • Supply of energy infrastructure systems for the MNOs • Tower inspection & reinforcement 4 5

TOWER INFRASTRUCTURE ELEMENTS ATTRACTIVE MACROECONOMIC FUNDAMENTALS AND DEMOGRAPHICS 3.8% 3.7% 82 3.4% 79 One of the most Fastest GDP Growths in Europe Population in Europe 64 64 Infrastructure Components Ownership 60 Second Largest 2.3% 2.3% 2.2% Component Global Tower Customer 46 6 2 1.4% 1.3% 1.3% 1 Tower 20 0.9% 11 11 11 10 10 Anten Apparatus 0.4% GE TR GB FR IT ES RO BE GR CZ HU SE Turkey Romania Serbia Czech Hungary Spain Germany France Austria Italy United Republic Kingdom 2 Antenna Population 2016A (m) Average Real GDP Growth 16E-19E 1 5 3 Generator 3 55,8 (%, 2016A) Underpinning Attrectiveness of 4 Concrete Area Global Tower’s Core Market Turkey WE CEE Predominantly Young 35,9 34,5 5 Shelter Room 4 21% 34% 37% 38% 36% 39% Energy Line 20,6 17,3 27% 42% 26% 11,0 6 Feeder Cable 6,1 Turkey Mexico Indonesia India US Italy Spain <25 years 25-50 years >50 years GDP per Capita (Thousands of US$ at PPP) Sources: Euromonitor, EIU, CIA World Factbook, Geohive. 6 7

SIZABLE AND ATTRACTIVE TELECOM MARKET: EXPANDING SUBSCRIBER BASE SIZABLE AND ATTRACTIVE TELECOM MARKET: INCREASING USAGE Mobile Subscribers (2016A, m) Total Subscribers Net Adds (2016A-2019E,m) Average Data Usage per Device (2016A, MB/Month Data Consumption) (GB/Month per Sub) 5.0 Expected to Grow at a fast Pace 74 Large Subscriber Base (1) Proliferation of Advanced Mobile Data Traffic... Mobile Devices... 5.800 7,1 x190 ...to Boost 2.700 2.8 x90 1.500 34 x50 31 1,3 24 X5,5 0,5 1.2 x2,4 (2) (3) (2) (3) Turkey Average WE Average CEE Turkey Average WE Average CEE Feature SmartPhone Tablet LapTop 2013A 2016A 2020E Phone Mobile Penetration (as % Population, FY16A) (Minutes of Use/Month)) (GB/Month per Sub) Sustainable Mobile Revenue Growth Increasing Mobile Voice Traffic... ...are Expected to Translate into Substantially Underpenetrated Low penetration 138% ... which Coupled with (%0,1) 560 with no competing 136% 134% %3,7 131% As Mobile Market is TowerCo 125% 399 7,7 16E-19E CAGR 109% 330 7,2 94% +40% 86% 78% %1,0 +20% 1,9 (2) (3) (2) (3) India Mexico Turkey Spain USA Indonesia Italy Total WE Total CEE 2013A 2016A 202E Turkey WE CEE 8 9

TURKEY: LTE SPECTRUM AUCTION COMPLETED IN 2015 TURKEY’S TELECOM NETWORK DESIGN REQUIRES HIGHER DENSIFICATION Traditional Network Design Densified Network Design (Voice + Some Data) (High Data Traffic) Limited bandwidth in a key frequency providing capacity (1800MHz) results in high demand for tower • Traditional network topology designed to ensure • Higher network density required, especially in urban areas space to meet the expected surge in data traffic 2600 MHz high quality voice services 4.5G capacity boost layer for hot spots - Smartphone penetration leading to growth of data hungry applications • Unable to adequally handle exponential growth in - Anticipated VoLTE (Voice over LTE) adoption the demand for traffic 20.0 24.8 Capacity Capacity Mobile broadband layer for 3G 2100 MHz 4.5G usage for mid/long-term 20.0 59.6 20.0 20.0 Main layer for 4.5G Terminal support, 1800 MHz capacity and coverage layer 24.8 70.0 70.0 20.0 35.0 2G/3G coverage and voice layer 30.0 900 MHz 60.0 Coverage Coverage 40.0 35.0 800 MHz 4.5G main coverage layer Network densification on the Regulatory framework Expected to boost back of limited availability of enforcing passive increase in colocation spectrum infrastructure sharing 10 11

COVERAGE OBLIGATIONS TO RESULT IN A HIGHER DEMAND PER TOWER SPACE PREMIER ESTABLISHED TELECOM INFRASTRUCTURE OPERATOR Implication 15 th Largest Standalone Global TowerCo 5 th Largest Standalone Tower Operator in Europe (No. of towers) (No. of towers) 3 Years 2 Years 1998 2001 2003 15.135 • No residual obligation 144.000 13.893 • Coverage not a competitive >50% of >90% of 40.000 11.519 2G advantage Country Country Population Population 29.432 10.550 • Opportunity for POP consolidation 15 th Largest TowerCo Globally 25.670 10.140 Licensing Date 6.966 23.493 Areas Covered 2.618 16.776 with LTE are Regarded as 3 Years 3 Years 2 Years 2 Years 16.450 Covered with 2009 2012 2015 2017 2019 3G 15.135 • Rural/low density coverage 14.737 remain as part of obligation Metropolitan All Rural Areas Rural Areas 3G Municipalities Province/ with >5k with >1k 12.874 Largest and Only Standalone Tower Operator in Turkey • Opportunity for tower (~77% of District Population Population DiF 12.138 Population) Municipalities business (No. of towers) (~93% of 11.519 Population) Licensing Date 11.154 10.550 3.393 2.388 2.213 7.994 3 Years 3 Years 2 Years 2 Years 15 th Largest TowerCo Globally 10.140 2016 2019 2022 2024 • Rollout starting from higher 6.000 density zones 8.400 5.500 • Small cell/DAS opportunities 99% of 95% of 90% of All 7.770 LTE for indoor coverage Highways, All Double Conven-tional 1.300 7.070 Tunnels, Roads Railroads • Infrastructure coverage High Speed 6.966 requirement necessitating Railroads Owned Towers Managed with right to sub-lease POP deployment 6.556 95% of Country Population, 95% of Country Population, Licensing Date >90% of All Province/Districts >90% of All Province/Districts Managed without the right to sub-lease 12 13

FINANCIAL OUTLOOK: FINANCIAL OUTLOOK: KEY INDICATORS CASH FLOW CONVERSION (1) 2015 2016 331 Cash Flow Conversion 2016 56 (EBITDA - CAPEX )/ EBITDA 251 REVENUE 11% 32% Revenues TL/mn 50 GROWTH 275 Developed Markets Emerging Markets 201 97.0% 96.6% 91.7% ADJ. EBITDA 41% 52% MARGIN(*) 80.5% 81.1% 79.7% 2015 2016 Rental Non-Rental 62.9% 61.3% 55.4% NET INCOME 18% 22% MARGIN 37.2% 8% 23.1% Revenues TL/mn BALANCE Zero debt & unleveraged balance sheet SHEET 92% Global Tower has dividend distribution policy with 75% payout ratio Turkey Ukraine 14 15