23 75 133 81 136 143 199 197 167 240 223 208 166 41 41 79 129 189 223 223 223 Kılıç Presentation Bodrum 2014.

Kılıç PresentationBodrum 2014

Kılıç highlights

Broad product portfolio

Strong and diversified geographic presence

Leading regional aquaculture player with unique scale

1

Vertically integrated and efficient platform with best-in-class operations

2

3

4

Experienced management and

established corporate governance

5Proven track record of delivering top-line growth and profitability

6

Well-defined and executable growth strategy

7

Attractive sector dynamics

8

Processing and packaging facilities

Kiılıç has expanded its operations through new investments and capacity increases by implementing a fully vertically integrated business model

Facilities are located in close proximity to each other, lowering logistics costs and making harvesting and processing flawless

Flow of operations is tracked by the SAP system(1), which was integrated in 2011

Aqua Manager(2) project has been launched and is expected to be up and running by June 2013. Aqua Manager optimizes the cage operations through accurate feeding and monitoring of biomass

In addition to the fleet used in harvesting, Kiılıç owns 3 large sea vessels to transport juveniles to Tunisia and other domestic players Hatchery: 2 months

Adaptation unit: 2 months Cages: 10-18 months (depending on

species)

Suppliers

Fish feed plants

Other aquaculture companies

EPS facility

Larvae feed Fish feed Fish feed EPS boxes

Fish feed

Hatcheries

Other aquaculture companies

Adaptation units Fish farms

Other aquaculture companies

Customers / Distributors

Juveniles

Merchandize fish

Value-addedproductsJuvenile

Sales

Fish feed ingredient suppliers

Fish meal andfish oil

Production span

Notes:1 The modules are: (i) material management, (ii) product planning, (iii) sales and distribution, (iv) financial accounting, (v)

controlling and (vi) human resources2 An integrated ERP for cages, hatcheries and adaptation units

Fresh whole fish

Harvested fish

Kılıc has a vertically integrated business model

3

2

Milas

Didim

Bodrum

Kayseri

K.Maras

GaziantepSanliurfa

executed through best-in-class operations

at multiple locations, minimizing business disruption risk

Bream/BassMeagre Production

Trout ProductionMarine cages

Freshwater hatchery

Marine hatcheries Freshwater cages

Fish feed plants Processing & packaging

Regional sales offices

Headquarters

Start of operations Location   Capacity/year (tons) Closed area (sqm)

2005 Milas, Mugla 60,000 5,000

2007 Milas, Mugla 60,000 5,000

 Total   120,000   10,000

Two extruder type plants capable of providing all grades of fish feed

Feed production, mostly used for internal operations, ensures quality of feed, gives control and flexibility over managing costs

• Extruder type feed plants, which use ECS(1) and VC(2) production systems, have a total capacity of 120k tons

• Feed plants are located in close proximity to the seabass and seabream facilities in Milas, Bodrum and Didim

• All grades of fish feed are produced by the feed plants for different sizes and needs of fish, except the larvae feed, which is imported

• Soybean meal, fish meal and fish oil are the three major ingredients of fish feed, accounting for c.75% of total feed cost

• The Company mainly procures fish ingredients from Morocco and Peru

• Fish feed prices are affected by the demand and supply of fish feed ingredients. Supply side is mainly influenced by weather conditions and natural disasters(3)

• Prices of fish feed ingredients are denominated in USD

Notes:1 Expansion Control System optimizes the composition and texture of the fish feed to prevent loss of ingredients, when

the feed is in the water2 Vacuum Coating concentrates fat into the inner parts of the feed to prevent loss of fat and contamination of the sea,

when the feed contacts water3 Prices increased to high levels after the earthquake in Chile in 2010

Fish Feed Facilities

Start of operations

Location Hatchery Adaptation  Species

Capacity

(mn units)

Other juvenile species production capability

2008 Akarca, Mugla Seabass / Seabream / Meagre

39.0 Turbot

2008 Kahramanmaras Trout 50.0 -

2006 Yasyer, Mugla Seabass / Seabream / Meagre

39.0 -

2006 Guvercinlik, Mugla –Seabass / Seabream

/ Meagre39.5 Singarit, sharpsnout seabream

2004 Bafa, Aydin Seabass / Seabream / Meagre

146.0Striped seabream, mullet, porgy, corb, grouper

1997 Oren, Mugla –Seabass / Seabream

/ Meagre80.0 Porgy, corb, grouper

Total   6 4 393.5

Hatcheries and adaptation units in multiple locations minimize business disruption risk

Substantial juvenile production and sales to other aquaculture companies result in visibility on the market and accurate planning, control over production, quality control and higher profitability

• 5 hatcheries of Kilic Deniz for marine species, 3 of which are also equipped with adaptation units, have total juvenile capacity of 343.5 mn units in seabass, seabream and meagre

• 1 freshwater hatchery with an integrated adaptation unit, located in Kahramanmaras, has a trout juvenile capacity of 50 mn units

• Bafa hatchery and adaptation unit, which accounts for 37.1% of total juvenile production capacity, benefit from significant energy cost savings as a result of the natural water reservoir under the hatchery that has a year around water temperature of 26°C, ideal temperature for juvenile fish

• Operations of hatcheries and adaptation units are supported by R&D activities and a microbiology laboratory, which ensure traceability and quality, develops new species such as the recently introduced meagre and provides after-sales service

Bafa hatchery and adaptation unit K.maras(1) hatchery and adaptation unit Akarca hatchery and adaptation unit Oren hatchery

Hatcheries and adaptation with significant capacity

Location Species License end(1) # of fish farming projects

# of cagesCapacity

(tons)Didim, Aydin Seabass / seabream / meagre 2026 2 12 4,000Milas, Mugla Seabass / seabream / meagre 2026 11 237 16,290

Bodrum, Mugla Seabass / seabream / meagre 2026 7 202 13,710

Seabass / seabream / meagre Subtotal 20 451 34,000Kahramanmaras Trout 2026 5 61 2,175Kayseri Trout 2026 4 60 2,175Gaziantep Trout 2026 2 76 1,350Sanliurfa Trout 2026 1 24 300

Trout Subtotal 12 221 6,000(2)

     Total 32 672 40,000

Cages in diverse locations

The largest fish farm operator in Turkey and one of the largest in Europe with modern and efficient operations

• Kilic Deniz operates off-shore marine cages for seabream, seabass and meagre, and freshwater cages for trout in dam lakes

• The Company has 20 marine fish farming projects with a total capacity of 34,000 tons

• The 12 freshwater fish farming projects have a total licensed and operational capacity of 6,000 tons

• Licenses of all projects were renewed(1) in 2011 for 15 years

Notes:1 Marine and freshwater licenses can be renewed for a period of 15 years2 Total licensed freshwater capacity is 8,375 tons, 5,500 tons of which are

currently operational

Cages at multiple locations, with state-of-art equipment

State-of-the art processing and packaging facilities

• The processing facilities were modernized in 2011, and investments in a new IQF unit and a second MAP line were initiated

• Facilities in Milas process all species, whereas Kahramanmaras processing facility is focused on trout

• The IQF and MAP investments in Milas were completed in January 2013, significantly increasing the capacity of value-added frozen and MAP products, respectively

• Kilic Deniz produces its own EPS boxes and ice for packaging, which guarantees the hygiene of packaging materials and products

• Packaging and processing facilities are certified with international quality certificates including ISO 900, ISO 22000, BRC (British Retail Consortium Global Standards) and IFS (International Featured Standards)

• Both processing and packaging facilities follow the Codex Alimentarius Commission standards, the food trade safety standards established by WHO and FAO

Start of operations Fish type Location

Processing capacity

(tons/year)

MAP capacity

(tons/year)

Frozen Capacity

(tons/year)

Grading and EPS packaging

capacity (tons/year)

2000Seabass, seabream,trout, and meagre

Milas, Mugla 9,360 1,800 6,480 28,800

2008 Trout Kahramanmaras 2,700 – 1,800 7,200

     Total 12,060 1,800 8,280 36,000

The processing and packaging facilities were recently modernized and their capacity was expanded to support the strategy of further diversifying value-added products

P&P facilities exceeding international standards

Value Added Packaging

There is one value added packaging facilities that Kılıç Deniz operates. The facility for frozen product sea bream and sea bass is located in Milas

The facility in Milas was founded in 2014 and has a capacity of 5,000 tons/year.

Overview

2014 Production Flow

Fish Farming

Feed Juvenile

Client Client

7 % 93 % 46 % 54 %

Müşteri

Processing & PackagingEPS Production

Client

Export

Wholesaler

Retailer

Sales Volume Development

2004-2014 CAGR: 26%

47%

53%

37%

33%

18%

35%

(Tons)18%

8%

Export Sales

Russia

Middle East

ItalySpain

Romania

Poland

UK

Germany

Denmark

USA&Canada

Holland

Top Five Markets Exported Fish Type

Italy Bass/Bream

Russia Trout/Bass/Bream

Holland Bass/Bream

Spain Bass/Bream

UK Bass/Bream

Export sales have been growing strongly over the years. Central Europe is the main market for exporting seabream and seabrass. In recent years, Kılıç Deniz has also entered the Russian market with the sales of trout, seabream and seabass, which have been increasing at a rapid pace.

Other

France

Portugal

Libya

Ukrain

Kazakhistan

Azerbaijan

International quality certificatesFacility

Extruder fish feed plants

Bafa hatchery and adaptation unit

Oren hatchery

Kahramanmaras hatchery and adaptation unit

International quality certificatesFacility

Extruder fish feed plants

Bodrum processing and packaging facility

Fish farms / cages

Kahramanmaras processing and packaging facility

Akarca hatchery and adaptation unit

Facilities International quality certificates

Guvercinlik hatchery

Operational excellence with international certificates

Fish Format in the Market

• Whole Fresh Chilled Sea bass

• Fresh Chilled Sea bass

• Fillets Whole Frozen Sea bass

• Frozen Sea bass Fillets

• Whole Gutted Frozen Sea bass

Mediterranean Sea Bass

• Whole Fresh Chilled Sea bream

• Fresh Chilled Sea bream Fillets

• Whole Frozen Sea bream

• Frozen Sea bream Fillets

• Whole Gutted Frozen Sea bream

Gilthead Sea Bream

Royal Sea Bass

• Whole Fresh Chilled Royal Sea bass

• Fresh Chilled Royal Sea bass Fillets

• Whole Frozen Royal Sea bass

• Frozen Royal Sea bass Fillets

• Whole Gutted Frozen Royal Sea bass

Rainbow Trout

• Whole Fresh Chilled Rainbow Trout

• Whole Gutted Frozen Rainbow Trout

• Frozen Rainbow Trout Fillets

• Frozen Smoked Rainbow Trout

MAP (Modified Atmosphere Packaging)

• Longer shelf life

• Fresher taste and color.

• More hygienic products

• Easier supervision

• Lower logistics costs

• Less stocking area

• Our products are also available frozen in a variety of packaging

Frozen

Value Added Products

Factory Capacity: 5.000 tons /year

2 Production Lines, 4 Different Products:

– Boil in the Bag Products in 200g retail box• Sea bream Fillet• Sea bass Fillet

– Oven able Tray Packed Products in 250g or 300g retail box • Sea bream Fillet• Sea bass Fillet

*** Ingredients can be adjusted as required

Ingredients : Sea bream or Sea bass Fillets, Olive Oil, Lemon juice, Basil, Garlic, Salt, Onion Powder

Cooking Methods: Place the unopened bag in boiling water for 15 minutes and serve. Empty contents onto an oven proof tray and place in a preheated oven and cook for 25 minutes at 185 C

Detail: Specially designed boil in the bag vacuumed pack.

Vacuumed Packed Products in 200g retail box

Value Added Products

Ingredients :Sea bream or Sea bass Fillets, Tomato Slices, Olive Oil, Lemon juice, Garlic, Salt, Onion Powder Cooking Methods: Pierce the folio and place in microwave and cook for 10 minutes at medium level. Alternatively remove the folio and place in a preheated oven and cook for 25 minute at 180C

Detail: Specially designed packaging suitable for use in microwave or conventional oven

Ovenable & Microwaveable Tray Products in 250g or 300g retail box

Value Added Products

Value Added Products

ROYAL SEA BASSRaised in cool and clean waters of the Mediterranean, the royal sea bass is cleaned and boned before it is turned carefully into fillets. They are baked in special ovens. Then, genuine extra virgin olive oil is poured over them and black peppercorn & capers are added. The royal sea bass become even more delicious with a great flavor and enchanting taste. The pleasure you get from eating fish becomes a practical and healthy meal.

SMOKED TROUTRaised and fed in Kılıç Seafood’s farms with care, the trout is smoked and cooked in oak ovens once the oaks are reaped. The amount of water in the trout is reduced so that they become more delicious while they are preserved for a longer time in the healthiest and most natural way. Then, extravirgin olive oil, black peppercorn and capers are added to the filleted trout. Those in slices, on the other hand, are seasoned with extra virgin olive oil, corn and carrot. Kılıç Seafood presents trout

New Product Line ‘Kaptan Kılıç’

• Kılıç launched new product line «KAPTAN KILIÇ» use for ″without fin″ product

• Kaptan Kılıç will be mostly frozen and nish product line for market

THANK YOU