Nemrut Geothermal Electricity Generation Inc.

Nemrut which has a total capital of TL 50,000 and in which the Company has 75% shareholding and Rarik-Turkison Enerji İnşaat Maden Proje Ltd. Şti. has 25% shareholding, has been incorporated 
on 2 August 2013.

Bitlis Special Provincial Administration has given to Nemrut, in which the Company has 75 % shareholding, the “Geothermal Resources and Natural Mineral Waters Operating License”  for a period of 30 year and the “Geothermal and Natural Resources  Exploration Licence” until the date of  3 June 2014 to be valid in the boundaries of Tatvan district of Bitlis. Relevant licenses have entered into force on 23 September 2013. The application for the time extension of exploration license process has not been approved yet.