Taking into account our operational and financial performance through the end of the third quarter, as well as strong product margns and our expectations regarding supply-demand balances in product markets, we have revised our 2026 Net Refining Margin guidance upward
The revised 2026 guidance is as follows:
Tüpraş Net Refining Margin Guidance:
• Tüpraş Net Refining Margin: USD 20-22 /bbl (previous guidance: USD 13-15 /bbl)
Operational Targets:
• Capacity utilization: 95-100% (unchanged)
• Production: ~ 29 million tons (unchanged)
• Total Sales Volume: ~30 million tons (unchanged)
Investment Guidance:
• CapEx: ~USD 700 million (unchanged)
In case of a discrepancy between the Turkish and the English versions of this disclosure, the Turkish version shall prevail.