CFO Message

Dear Valued Stakeholders,

At Brisa, with the strong support of our main shareholders, Sabancı Holding and Bridgestone Corporation, we lead the Turkish tire industry with our focus on sustainable growth, while creating value for the national economy and for your journeys.

We remain fully committed to our principles of corporate governance, transparency, occupational safety, and efficiency. Our goal is to ensure the long-term sustainability of the value we create, particularly through investment, innovation, and employment.

In today’s global economic environment, ensuring economic sustainability requires the development of medium- and long-term strategies. Equally important is the ability to anticipate risks, seize opportunities, and take timely action. In this context, we approach risk management as a holistic framework that safeguards sustainability across all areas—from our operations to our financial structure—while supporting long-term value creation.

As Turkey’s leader in the tire industry and one of its pioneering industrial companies, we continue to advance in our strategic focus areas across both domestic and international markets. We maintain our strong position through our balanced working capital structure, effective channel and product portfolio management, and disciplined pricing approach.

The year 2025 was marked by increasing cost pressures, demand fluctuations, and intensified price competition. In this challenging environment, operational efficiency, cost discipline, and accurate pricing remained our key priorities. Through supply chain optimization and a focus on value-added product segments, we managed our performance in a balanced manner.

As a result of this approach, our revenue reached TRY 41.3 billion in 2025. Supported by improved efficiency and disciplined cost management, we achieved EBITDA of TRY 5.4 billion and an EBITDA margin of 13.2%.

While the total tire market contracted, growth in the premium segment continued. At Brisa, we outperformed the market in this segment, further strengthening our leadership. By expanding our value-added product portfolio, we supported our margin structure.

The foundation of our financial resilience lies in disciplined cost management, a strong focus on cash flow, and a balanced working capital structure. While maintaining our margins in a high-inflation environment, we focused on balancing our financial performance through efficiency projects and operational improvements, ensuring strong cash generation. Particularly in the final quarter, increased cash generation and controlled capital expenditures enabled us to achieve free cash flow of TRY 5.6 billion. With our agile financing approach, we reduced our leverage and closed the year with a Net Debt/EBITDA ratio of 0.8x.

Through our Lassa brand, we continued to expand in international markets, exporting to more than 80 countries and increasing our market share in many regions, thereby expanding our global footprint.

In sustainability, we continue to lead with globally recognized practices. As part of our decarbonization roadmap, we maintain our Science Based Targets initiative (SBTi)-approved target to reduce our emissions by 56% by 2030 compared to our 2020 baseline. We also continue to be listed on the CDP Global A List in both “Climate Change” and “Water Security” categories.

In line with rapid technological advancements and evolving customer needs, we continue our R&D efforts, as well as modernization and smart technology investments in our factories. While enhancing our capabilities in technologies for electric and hybrid vehicles, we strengthen our collaborations with automotive manufacturers and diversify our service solutions.

With our strong brands, high-quality products, and customer-focused approach, we continue to create value for our customers, business partners, and investors, while aiming to sustain our leadership. In line with our strategic priorities, we remain committed to balanced growth and sustainable profitability.

With the responsibility of being a leader in the tire industry, we will continue to create sustainable value for our country and our sector.

Sincerely,

Neslihan DÖNGEL ÖZLEM

CFO