Marti Technologies : Presentation April 2026
MRT
Published on 04/21/2026 at 09:36 am EDT
Investor Presentation
April 2026
NYSE American: MRT
CAR-HAILING MOTORCYCLE-HAILING TAXI-HAILING E-BIKE E-MOPED E-SCOOTER
Car-hailing | Motorcycle-hailing | Taxi-hailing | E-bike | E-moped | E-scooter | Motorcycle-deliveries | Car-deliveries
The Opportunity
Our Performance and Future Plans Who We Are
Guidance
3
Investment Highlights
#1 urban mobility app in Türkiye, operating in a large and under-developed transportation market, a
$9-$12 billion opportunity annually1
Only at-scale ride-hailing operator in Türkiye, with 3.8 million unique ride-hailing riders2 and 490 thousand registered ride-hailing drivers2, and over 7.4 million unique platform consumers3, well-positioned as ride-hailing regulation develops over coming years
Shift to first full year of platform monetization in 2025 was a significant inflection point for growth and profitability: revenue more than doubled to $39.2M and gross profit margin improved dramatically from (15)% to 61%. We are on track for $70M revenue and $1M positive Adjusted EBITDA in 2026
Successfully scaling into a true multi-service mobility platform by expanding ride-hailing to 20 cities nationwide and launching delivery services in Istanbul in October 2025, significantly increasing our addressable market and network density
Proven leadership with a track record of successful entrepreneurship, who recognized early that there was an unmet need for a mobility super app in Türkiye
Well-capitalized to execute strategy, with backing from U.S. and European institutional investors including Callaway, New Holland, BECO Capital, Gramercy, European Bank for Reconstruction & Development (EBRD), and Autotech Ventures
Our Services
Ride-hailing
car-hailing motorcycle-hailing taxi-hailing
Two-wheeled electric vehicles
e-bikes
e-mopeds e-scooters
Deliveries
motorcycle deliveries car deliveries
1. McKinsey and Company's Turkish Consumer Mobility Market Assessment from 2021. 2. As of March 17, 2026. 3. As of December 31, 2025. 4. The Company's 2026 guidance is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company's expectations may change. There can be no assurance that the Company will achieve these results. 5. Adjusted EBITDA is a non-GAAP metric and is calculated by adding
depreciation, amortization, taxes, financial expenses (net of financial income) and one-time charges and non-cash adjustments, to net income (loss). The one-time charges and non-cash adjustments are mainly comprised of customs tax provision expenses resulting 4
from the one-time amendment of customs duties and lawsuit provision expense which Marti did not consider the provision to be reflective of its normal cash operations. 6. Third-party data included herein has been obtained from publicly available sources and has
not been independently verified by the Company. The Company makes no representation or warranty, express or implied, as to the accuracy or completeness of such information.
Investment Highlights
Our Performance and Future Plans Who We Are
Guidance
5
Türkiye offers significant untapped mobility opportunities…
All of the top 20 world economies have an established local mobility super app
1. Third-party data included herein has been obtained from publicly available sources and has not been independently verified by the Company. The Company makes no representation or warranty, express or implied, as to the accuracy or completeness of such information. 6
… and Türkiye needs immediate mobility solutions
Inadequate public transportation and unpleasant mobility alternatives for last-mile journeys
Hyundai i20
52x
Nissan
Versa
15x
Dacia
Sandero
8x
Dacia
Sandero
7x
Türkiye
U.S.
U.K.
France
Min cost of owning a new car / Min monthly wage
High cost of car ownership1
High traffic congestion2
Low metro station density3
285
61
12
17
Istanbul
London
New York
Paris
# of stations per 100 sq km
Limited taxi penetration4
1.6x
1.2x
1.3x
1.0x
Istanbul
Paris
New York
London
Traffic congestion
23
14
11
1
Istanbul
Paris
New York
London
# of taxis per thousand people
purchase cost in each country as of April 2026. Maintenance and fuel costs are significant costs and are not included and net minimum wage salaries are used in this graph. OECD 2024 annual average minimum wage and 2024 average CBRT FX rates are used for US, UK, and France. 2026 minimum wage and Q1 2026 average CBRT FX rates are used for 7
Türkiye. 2. Based on TomTom 2025 traffic index. Indexed to Paris 2025 traffic congestion score. 3. Calculated with the latest data available in April 2026 at İstanbul Büyükşehir Belediyesi, Department for Transport UK, Paris Transport, MTA New York, Citypopulation, and WorldPopulationReview. 4. Both taxis and cabs and private hire vehicles are included. Assumes no private hire vehicles in Türkiye. 5. Third-party data included herein has been obtained from publicly available sources and has not been independently verified by the Company. The Company makes no representation or warranty, express or implied, as to the accuracy or completeness of such information.
Ride-hailing annual revenue potential is estimated at $4 billion
Annual Revenue Potential
$4 billion
# of daily ride-hailing trips in İstanbul
1.3 million
Taxi market share of Istanbul as a percentage of Türkiye
35%
# of daily ride-hailing trips in Türkiye
3.9 million
Average gross booking value per trip
$9.20
Global take-rate benchmark2
30%
Number of daily trips before and after ride-hailing introduction (thousands)
# of daily taxi trips before ride-hailing introduction
# of daily taxi and ride-hailing trips 10 years after ride-hailing introduction
New York1 İstanbul1
768
472
1,324
812
1.0X 1.63X 1.0X 1.63X
Ride-hailing greatly expanded the market in New York City
toddwschneider.com New York City number of daily trips increased by 63% from January 2015 to October 2024. A similar growth trajectory is projected for Istanbul, with January 2025 as the baseline. 8
Uber Technologies, Inc., Q4 2025 Earnings, Supplemental Data, February 4, 2026.
Third-party data included herein has been obtained from publicly available sources and has not been independently verified by the Company. The Company makes no representation or warranty, express or implied, as to the accuracy or completeness of such information.
Investment Highlights The Opportunity
Who We Are Guidance
9
Although the youngest operator, Marti is the leading urban mobility app in Türkiye
Marti is the most downloaded
urban mobility app in Türkiye1
Marti operates in 20 of Türkiye's largest cities,
representing ~80% of national GDP2
Rank
Company
Years of Operation
#1
7 Years
#2
Local Operator
13 Years
#3
International Operator
12 Years
#4
Local Operator
7 Years
#5
Local Operator
7 Years
Istanbul
30.4%
Tekirdağ
1.7%
Kocaeli
4.1%
Sakarya
1.2%
Samsun
1.1%
Yalova
0.4%
Bursa
3.9%
Eskişehir
1.1%
Ankara
9.6%
Izmir
6.1%
Manisa
1.6%
Kayseri
1.4%
Aydın
1.0%
Denizli
1.0%
Konya
2.1%
Adana
2.1%
Muğla
1.3%
Antalya
3.5%
Mersin
2.1%
Gaziantep
1.9%
Ride-hailing operations
Ride-hailing and two-wheeled electric vehicle operations
Ride-hailing, delivery, and two-wheeled electric vehicle operations
Number one urban mobility and ride-hailing app in Türkiye across iOS and Android, as measured by the total number of downloads among all apps in the urban mobility and ride/taxi-hailing/sharing category in FY 2025. Download figures based on Sensor Tower. Third-party data included herein has
been obtained from publicly available sources and has not been independently verified by the Company. The Company makes no representation or warranty, express or implied, as to the accuracy or completeness of such information. 10
Turkstat as of December 31, 2023 (GDP data per city source).
Third-party data included herein has been obtained from publicly available sources and has not been independently verified by the Company. The Company makes no representation or warranty, express or implied, as to the accuracy or completeness of such information.
Marti's ride-hailing service is exceeding growth targets
(thousands)
Unique Ride-hailing Riders Registered Ride-hailing Drivers
(thousands)
Target1
Target1
3,384
3,802
2,756
2,280
1,663
1,932
1,101
1,396
499
690
Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Q2 2026
4,300
450
490
382
327
262
292
171
223
107
138
Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Q2 2026
530
Marti Continues to Outperform
its Rider and Driver Targets
Marti reached 3.8 million unique ride-hailing riders2 and
490 thousand registered drivers2
Targeting 4.3 million unique ride-hailing riders and 530 thousand registered
drivers by June 30, 2026
The Start of Monetization was
a Significant Inflection Point
2025 was the first full year of platform monetization
Launched dynamic pricing and improved matching algorithm designed to
improve service efficiency and enhance rider and driver satisfaction
The Company's ride-hailing targets are based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company's expectations may change. There can be no assurance that the Company 11
will achieve these results.
Ride-hailing KPI is included as of March 17, 2026 since inception of the service.
Our multi-service offering is further strengthened by the launch of deliveries
Strong multi-service usage among ride-hailing consumers
15%
Multi-service consumers complete more trips and spend more than single service consumers2 in 2025
% of car-hailing consumers who have previously used another Marti service
35%
Car-hailing consumers
% of car-hailing consumers who have subsequently used 2+ services
Single service consumers Multi-service consumers
% of motorcycle-hailing consumers who have previously used another Marti service
82%
% of motorcycle-hailing consumers who have subsequently used 2+
72%
Motorcycle-hailing consumers
Strong multi-service adoption among drivers1
31%
% of motorcycle-hailing drivers also performed delivery services
services
1.0X
4.4X
1.0X
3.6X
Motorcycle-hailing drivers
Car-hailing drivers
Motorcycle-delivery drivers
9%
% of car-hailing drivers also performed delivery services
Car-delivery drivers
Trips per consumer Revenue per consumer
Includes only ride-hailing and delivery trips performed by drivers and used by consumers in İstanbul in Q4 2025. 12
Consumers with more than one trip included in analysis, FY 2025 ride-hailing, delivery, and two-wheeled electric vehicle trips and revenues are analyzed.
Numerous growth drivers for our platform
Continued organic growth
in existing cities
Growing urban demand
Expanding number of drivers
Loyalty program incentives
Improved consumer experience
Launch of new cities and countries
Additional urban population to
serve in Türkiye
Underpenetrated cities in Türkiye's neighboring countries
Scalable operational playbook
Dynamic pricing
Demand-supply forecasting
Real-time fare adjustments
Optimizing match rates and revenue per trip
Increasing take rate
New subscription packages
Introduction of commission model
Increasing take rate to align with global benchmarks
13
Numerous opportunities to expand beyond mobility and beyond Türkiye
Parcel deliveries1
Restaurant deliveries
Grocery deliveries
Wallet2
Peer-to-peer transfers2
Lending
Initially in transportation
Organically
M&A using public company currency
Launched in October 2025. 14
Closed-loop wallet and peer-to-peer transfers are currently available.
Investment Highlights The Opportunity
Our Performance and Future Plans
Guidance
15
Proven leadership with a track record of successful entrepreneurship
Daniel Freifeld Director
Co-founder of hedge fund Callaway Capital, Senior Advisor to Special Envoy at U.S. Department of State, and Program coordinator at U.S. Department of Defense
Oğuz Alper Öktem
Founder, CEO, Director
3x entrepreneur University of Chicago
London School of Economics
Cankut Durgun
Co-founder, President, COO, Director
3x entrepreneur MIT
Stanford University
Alex Spiro Director
Leading advisor to businessmen and politicians Harvard University
Kerry Healey Director
President Emerita of Babson College Board member at Apollo and Pershing Square
Harvard University
Douglas Lute Director
U.S. Ambassador to NATO Deputy National Security Advisor
Harvard University
Agah Uğur Director
CEO of one of Türkiye's largest conglomerates,
Borusan Holding
Board member at Pegasus Airlines and Coca-Cola MENAT
16
Well-capitalized to execute strategy, with backing from U.S. and European institutional investors
17
Investment Highlights The Opportunity
Our Performance and Future Plans
Who We Are
18
Guidance
Revenue Adjusted EBITDA2
$1.0
($ in millions) ($ in millions)
+$30.8
+78%
+$20.6
+110%
$70.0
$39.2
$18.7
2024 Actual
2025 Actual
2026 Guidance1
2024 Actual
2025 Actual
$(12.1)
$(19.3)
+$13.1
+$7.2
2026 Guidance1
$1.0
The Company's 2026 guidance is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company's expectations may change. There can be no assurance that the Company will 19
achieve these results.
Adjusted EBITDA is a non-GAAP metric. See Non-GAAP Reconciliations for definitions and reconciliation.
MARTI INVESTOR RELATIONS
Disclaimer
Marti Technologies Inc. published this content on April 21, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 21, 2026 at 13:35 UTC.