Zorlu Solar Pakistan (Private) Ltd.

In accordance with the material disclosure dated November 25, 2016, Zorlu Energy has 10.000 PKR share capital under the partnership of 99.7% and its main activity is to produce and supply electricity, without any resource restriction, thermal power plants, wind farms, hydroelectric power plants, solar energy the establishment and operation of electrical energy projects and transmission systems, and the production, purchase, supply and installation of complementary components of any facilities, including, but not limited to, any renewable production facility, from any renewable production facility; "Zorlu Solar Pakistan (Private) Limited" was established and registration process of the company in Pakistan was completed on November 18, 2016.

Zorlu Solar Pakistan received a production license for 25 years from the Pakistan National Electric Power Regulatory Authority in August 2017 for a 100 MW solar power plant project in the province of Punjab, Pakistan. The plant, which was started in March 2017, is planned to be commissioned in the second half of 2018. Negotiations with various banks are ongoing for the financing of the project.

At the Board of Directors meeting of Zorlu Energy on December 12, 2017, it’s decided to participate in the raise the existing capital of 100,000 Pakistan Rupees (PKR) of Zorlu Solar Pakistan to 2,500,000,000 Pakistan Rupees within share of ownership.