February 23, 2012

FOURTH QUARTER & FULL YEAR 2011

TURKCELL

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

BUSINESS OVERVIEW Süreyya Ciliv Turkcell, CEO

TURKCELL GROUP: FINANCIAL HIGHLIGHTS

TRY million Q411 YoY (%)

Revenue 2,446 11.9%

EBITDA 695 7.0%

EBITDA Margin 28.4% (1.3pp)

Net Income 332 (9.9%)

Avg. TRY / US$ rate 1.8209 23.7%

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

CONSOLIDATED FINANCIAL RESULTS

• Revenue and EBITDA in line with FY11 guidance through accelerated quarterly performance

• Strongest revenue growth of the year at 12% in Q411 with a 7% rise in EBITDA

- EBITDA margin declined, mainly due to investments in our brand and channel

• Net income impacted by non-cash items, mainly due to devaluation in Belarus

- Excluding one off items below the EBITDA line, net income would have been TRY1.9 billion

4

2010 2011 YoY (%)

9,004 9,370 4.1%

2,948 2,913 (1.2%)

32.7% 31.1% (1.6pp)

1,764 1,178 (33.2%)

1.5050 1.6698 11.0%

TURKCELL GROUP : ACCELERATING GROWTH IN KEY BUSINESSES

5 *Voice revenues include outgoing, incoming, roaming and other revenues.

TURKCELL GROUP

-13.3%

-5.2%

-0.2% 1.2%

10.5%

18.9%

24.1% 25.8%

20.0% 18.8%

39.8% 48.9%

Q111 Q211 Q311 Q411

Revenue growth YoY

Revenue growth YoY

TURKCELL TURKEY: VOICE*

TURKCELL TURKEY: MOBILE INTERNET & SERVICES

SUBSIDIARIES

-5.8%

1.7%

8.6%

11.9%

Q111 Q211 Q311 Q411

54% 53% 53% 53%

27% 28% 28% 28%

19% 19% 19% 20%

Q111 Q211 Q311 Q411

Turkcell Operator A Operator B

TURKCELL TURKEY : SUSTAINED LEADERSHIP WITH OUR CUSTOMER FOCUS

6

MARKET SHARES1

• Competitors’ focus on market share continued

• Turkcell remained by far the leader 34%

28%

2010 2011

↓6pp

OUR ACTIONS LED TO LOWER CHURN & EVEN STRONGER BRAND

73 79

73 77

61 63

Dec.10 Dec.11

Network Quality Leader Service Quality

Perception2

Churn Rate

1 Source: Company announcements and ICTA reports 2Source: Research Method

TURKCELL TURKEY: MOMENTUM CONTINUED

7

38.2 37.5 40.0 38.5

Q410 Q411 FY10 FY11

POSTPAID

PREPAID

ARPU (TRY)

10.8 11.0 11.4 11.0

Q410 Q411 FY10 FY11

18.9

19.7 19.5 19.8

Q410 Q411 FY10 FY11

SUBSCRIBERS (million)

-1,902

1,063 734

1,542

FY10 FY11

Total Postpaid

33.5 34.5

NET ADDITIONS (000)

2010 2011

TOTAL

10.1 11.7 POSTPAID

ARPU increase through upsell & cross-sell efforts & contracted offers

23.3 22.9 PREPAID

T20

T11

TURKCELL TURKEY : LEADING THE SMARTPHONE MARKET

TURKCELL T SERIES

«Widening access to mobile internet»

«Providing the best Turkcell experience at affordable prices»

GROWING SMARTPHONE BASE

3%

6%

12%

~20%

0.9

2.0

3.8

FY09 FY10 FY11 FY12Exp.

Smartphone penetration in networkNumber of smartphones (million)

TRY389 TRY 14.90X24 months

TRY455 TRY 19.90X24 months

8

«NFC enabled»

«NFC enabled»

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

*Source: Gfk

261

454

724

FY09 FY10 FY11Mobile internet revenue (TRY million)

TURKCELL TURKEY: SOLID INCREASE IN MOBILE INTERNET REVENUES

9

GROWING MOBILE INTERNET REVENUES WHILE CONTROLLING DATA TRAFFIC INCREASE

1,281

1,619

1,944

16.0%

20.3% 24.2%

FY09 FY10 FY11

Revenue (TRY million)

as a % of Turkcell Turkey sales

INCREASING MOBILE INTERNET & SERVICES* REVENUES

20% YoY

60% YoY

x

5.5x

13x

FY09 FY10 FY11Mobile Data Traffic

74% YoY

2.4x

5x

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

Wholesale 52%

Corporate 24%

Residential 24%

TURKCELL SUPERONLINE: REACHED FULL YEAR EBIT POSITIVE

10

93% YoY

STRONG GROWTH IN ALL SEGMENTS

Revenue breakdown (FY11)

335

460

9.8%

17.7%

FY10 FY11

92 141

5.8%

22.1%

Q410 Q411

Revenue (TRY million) EBITDA margin (%)

Q411

FY11

↑53%

revenue growth

↑37%

revenue growth

•EBITDA increased by 148% YoY

•EBIT Positive in FY11

29% YoY

• 30,000 km fiber network

• Homepass reached 1 million

24% YoY

339 369

19.0%

25.5%

FY10 FY11

82

98

20.6% 25.4%

Q410 Q411

Revenue ($ million) EBITDA margin (%)

UKRAINE: PROGRESS CONTINUES

11

↑20%

revenue growth

↑9%

revenue growth

EXECUTING ON TURNAROUND STRATEGY

Q411

FY11

• Strong subscriber and revenue growth in all regions

• Continued focus on profitability while growing revenues

6.1 7.0

3.9

4.7

FY10 FY113m active subscribers (million)3m active ARPU (USD)

TURKCELL GROUP: 2012 OUTLOOK

12 *Operational Capex

Mobile internet & 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

FINANCIAL OVERVIEW Koray Öztürkler Turkcell, Chief Corporate Affairs Officer

NOTICE:

Please note that all financial data are consolidated whereas non-financial data are unconsolidated

unless otherwise specified.

EBITDA is a non-GAAP financial measure. Please refer to the press release for the reconciliation of

EBITDA to net cash from operating activities.

All non-financial data are unconsolidated, prepared in accordance with IFRS and expressed in US$

and/or TRY.

The figures used in this presentation are rounded while percentage changes are calculated based

on the figures disclosed in the Q4 & FY 2011 result announcement press release.

TURKCELL GROUP: REVENUE (TRY million)

14

Q411 vs. Q410 YoY ↑11.9%

FY11 vs. FY10 YoY ↑ 4.1%

9,004 9,370

(286) 325 327

RevenueFY10

Δ in Voice& others

Δ in Mobile internet& services

Δ in Subsidiaries

RevenueFY11

Δ in Turkcell Turkey: ∑ TRY 39 million

2,186 2,446

18 109 133

RevenueQ410

Δ in Voice& others

Δ in Mobile internet& services

Δ in Subsidiaries

RevenueQ411

Δ in Turkcell Turkey: ∑ TRY 127 million

29.7% 28.4% 28.9%

(4.5pp) 2.2pp

1.0pp

EBITDAQ410

Δ in Direct cost of

revenues

Δ in G&A exp.

Δ in S&M exp.

EBITDAQ411

EBITDAQ411 excl.Treasury

shareimpact

TURKCELL GROUP: EBITDA MARGIN (%)

15

Q411 vs. Q410 YoY↓ (1.3pp)

FY11 vs. FY10 YoY ↓(1.6pp)

32.7% 31.1%

(3.1pp) 1.4pp

0.1pp

EBITDAFY10

Δ in Direct cost

of revenues

Δ in G&A exp.

Δ in S&M exp.

EBITDAFY11

(*): Depreciation and amortization is not included.

*

*

(0.5pp) Treasury share impact related to frequency usage fee charged to prepaid subscribers

368 332

437

(253) 274

(60) 14 2 (13)

Net incomeQ410

Δ in EBIT Δ in Monetary Gain/Loss

Δ in net finance inc./exp.

Δ in Equity in Net Inc./Loss

Δ in Other Δ in Taxation Net incomeQ411

Net incomeQ411 excluding

one-offs

Q411 vs. Q410: YoY ↓ (9.9%)

TURKCELL GROUP: NET INCOME (TRY million)

16

Δ in EBITDA:46 Δ in D&A exp.:(299)

Δ in interest inc/exp.:56 Δ in Translation gain/loss.: (116)

TRY 105 million

Net income impacts (million TRY) Q411

Inflation accounting impact in BeST* 45

Depreciation impact (240)

Monetary gains / (losses) 274

Tax impact 11

Translation loss in BeST (95)

Impairment in BeST (16)

Other impairment charges (34)

Other provisions (5)

(*): Our subsidiary in Belarus.

1,764

1,178

1,913

(489) 274 (247)

42 (166) 0

Net incomeFY10

Δ in EBIT Δ in Monetary Gain/Loss

Δ in net finance inc./exp.

Δ in Equity in Net Inc./Loss

Δ in Other Δ in Taxation Net incomeFY11

Net incomeFY11 excluding

one-offs

FY11 vs. FY10: YoY ↓ (33.2%)

TURKCELL GROUP: NET INCOME (TRY million)

17

Δ in EBITDA:(35) Δ in D&A exp.:(453)

Δ in interest inc./exp.:119 Δ in Translation gain/loss.: (366)

(*): Our subsidiary in Belarus.

TRY 735 million

Net income impacts (million TRY) FY11

Inflation accounting impact in BeST* 45

Depreciation impact (240)

Monetary gains / (losses) 274

Tax impact 11

Translation loss in BeST (438)

Impairment in BeST (204)

Other impairment charges (40)

Other provisions (98)

894

393 227

123

Turkcell Turkey Turkcell Superonline International Other

TURKCELL GROUP: BALANCE SHEET HIGHLIGHTS & CAPEX

Consolidated (TRY million) Q410 Q311 Q411

Total Cash 5,118 6,164 6,334

Cash & Cash Equivalents 5,105 6,163 4,738

Financial Investments 12.7 0.8 1,596

Total Assets 15,142 16,646 17,187

Total Debt 2,841 3,451 3,529

Net Cash 2,277 2,713 2,805

Total Equity 9,637 10,525 10,826

18

Total: TRY 1,6 billion

CAPEX SPLIT (TRY million) FY11

TRY 1,596 million time deposits with a maturity longer than 3 months is recorded as Financial Investment

APPENDIX

Summary Income Statement as per CMB¹ Financials(TRY million)

20

Summary income statement (TRY mn) Q410 Q411 YoY (%) 2010 2011 QoQ (%)

Revenue 2,186.2 2,445.5 11.9% 9,003.6 9,370.1 4.1%

Direct Cost of Revenues2 (1,268.8) (1,790.5) 41.1% (5,030.2) (5,948.8) 18.3%

S&M (426.6) (451.6) 5.9% (1,633.9) (1,684.9) 3.1%

G&A (139.3) (103.8) (25.5%) (521.9) (410.9) (21.3%)

EBITDA 649.0 694.7 7.0% 2,948.3 2,912.9 (1.2%)

EBITDA Margin 29.7% 28.4% (1.3pp) 32.7% 31.1% (1.6%pp)

Net Income 369.1 333.3 (9.7%) 1,771.6 1,183.3 (33.2%)

1 Capital Markets Board of Turkey 2 Depreciation and amortization is included

CONSOLIDATED CASH FLOW ($ MILLION)

Consolidated Cash Flow($ mn) Q410 Q411 YoY (%) 2010 2011 QoQ (%)

EBITDA1 442 383 (13.2%) 1,957 1,748 (10.7%)

LESS:

Capex and License (364) (368) 1.1% (1,079) (866) (19.7%)

Turkcell (129) (185) 43.4% (506) (473) (6.5%)

Ukraine (21) (27) 28.6% (66) (65) (1.5%)

Investment & Marketable Securities (100) (834) 734.0% (45) (834) 1753.3%

Net Interest Income/Expense 43 70 62.8% 188 243 29.3%

Other 156 (74) (147.4%) (443) (1,122) 153.3%

Net Change in Debt 44 (7) (115.9%) 305 38 (87.5%)

Dividend paid - - - (573) - -

Cash Generated 221 (831) (476.0%) 311 (794) (355.3%)

Cash Balance 3,302 2,509 (24.0%) 3,302 2,509 (24.0%)

21 1 EBITDA is a non-GAAP financial measure. See pages 14-15 of our press release for the reconciliation of EBITDA to net cash from operating activities.

CONSOLIDATED BALANCE SHEET ($ MILLION)

Consolidated Balance Sheet ($ mn) 2010 2011 YoY (%)

Cash & Bank 3,302 2,509 (24.0%)

CURRENT ASSETS 4,438 4,464 0.6%

Fixed Assets, Net 4,777 3,956 (17.2%)

Other Long Term Assets 580 679 17.1%

TOTAL NON-CURRENT ASSETS 5,357 4,635 (13.5%)

TOTAL ASSETS 9,795 9,099 (7.1%)

S/T Debt 430 811 88.6%

TOTAL CURRENT LIABILITIES 1,813 2,063 13.8%

L/T Debt 1,407 1,057 (24.9%)

TOTAL NON-CURRENT LIABILITIES 1,748 1,304 (25.4%)

MINORITY INTEREST (24) (61) 154.2%

Share Capital 1,636 1,636 0.0%

TOTAL EQUITY 6,234 5,732 (8.1%)

TOTAL EQUITY AND LIABILITIES 9,795 9,099 (7.1%)

22

THANK YOU

www.turkcell.com.tr

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

(+90 212 313 1888)