MARGÜN ENERJİ ÜRETİM SANAYİ VE TİCARET A.Ş. Özel Durum Açıklaması (Genel) 30 Aralık 2025

In line with our Company's objective to increase its investments in the renewable energy sector, an agreement was signed on 27.10.2025 between a company domiciled in Türkiye and Bosphorus Yenilenebilir Enerji A.Ş., a wholly owned subsidiary of our Company, regarding the acquisition of 9 Geothermal Resource Licenses located in the provinces of Denizli and Manisa, with a total installed capacity potential of 505 MWm.

For the purpose of realizing the aforementioned investments, a new company under the trade name Margün Jeotermal Enerji Üretim A.Ş. was established with an initial capital of TRY 100,000,000, with 82.50% of its capital held by Bosphorus Yenilenebilir Enerji A.Ş., a wholly owned subsidiary of our Company, and the remaining 17.50% contributed by Naturel Holding A.Ş. as a minority shareholder. Following the establishment, a Shareholders' Agreement and a Share Transfer Agreement were executed regarding the transfer of 5% of the shares held by Bosphorus Yenilenebilir Enerji A.Ş. to Pardus Portföy Yönetimi A.Ş. First Mixed Venture Capital Investment Fund (BKG), and the share transfer transactions were completed.

Out of the 9 Geothermal Resource Licenses located in the provinces of Denizli and Manisa, with a total installed capacity potential of 505 MWm, the transfer of 3 licenses had been completed to date, and as of today, with the completion of the transfer of an additional 5 licenses, a total of 8 licenses have been successfully transferred. The transfer process of the remaining 1 license is still ongoing before the relevant authorities, and the public will be duly informed as the process progresses.

Upon completion of the investments by the newly established company, it is envisaged that electricity will be sold under a government purchase guarantee for a total period of 15 years pursuant to Law No. 5346 on the Utilization of Renewable Energy Resources, at an average price of USD 12.50 cents/kWh including the domestic contribution premium for the first 5 years from the acceptance date, and at an average price of USD 10.50 cents/kWh for the subsequent years. The geothermal power plants are expected to generate approximately 3,863,250,000 kWh of gross electricity annually. Excluding potential additional revenues and based solely on electricity generation, annual sales revenues of approximately USD 462,850,000 (Four Hundred Sixty-Two Million Eight Hundred Fifty Thousand United States Dollars) and EBITDA of approximately USD 370,250,000 (Three Hundred Seventy Million Two Hundred Fifty Thousand United States Dollars) are projected for the first 5 years, including the domestic contribution premium. Following the end of the first 5-year period, annual sales revenues of approximately USD 405,000,000 (Four Hundred Five Million United States Dollars) and EBITDA of approximately USD 324,000,000 (Three Hundred Twenty-Four Million United States Dollars) are expected solely from electricity generation. Over the entire YEKDEM period, excluding potential additional revenues and based solely on electricity generation, total sales revenues of approximately USD 6,364,250,000 (Six Billion Three Hundred Sixty-Four Million Two Hundred Fifty Thousand United States Dollars) and EBITDA of approximately USD 5,091,250,000 (Five Billion Ninety-One Million Two Hundred Fifty Thousand United States Dollars) are projected.

The investment constitutes a significant step within the scope of Margün Enerji Üretim Sanayi ve Ticaret A.Ş.'s growth strategy in the geothermal energy sector, and further developments will be disclosed to the public accordingly.

Respectfully submitted to the public and our investors.

This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.