Report - Q4 2019 Earnings Presentation...Earnings Presentation 12 5.2 10.1 6.7 5.0 3.5 3.6 4.1 4.7-1.9 Q4 2015 Q4 2016 Q4 2017 Q4 2018 Q4 2019 Q4 Margins Tüpraş Net Med Margin •Narrow differentials

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