[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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English

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Forward Looking Evaluations
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Hayır (No)
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Explanations
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2018 expectations are given below;

Brent Crude

55-60 $/bbl

Med Complex Margin & Tupras Net Margin

-We expect Med Complex margns to be 4,75 – 5,00 dollar per barrel band

-Tupras net refinery margns  to be 7,50-8,00 dollars per barrel

Capacity Utilisation

-Full Total Capacity Utilization using imported semi-products such as ASRFO and HVGO

• Production: approximately 28.3 million tons

• Total sales: 31.0 million tons

Investment

-Refining investments for 2018 will be about 250 Million dollars

-In case of a discrepancy between the Turkish and the English versions of  this disclosure, the Turkish version shall prevail.