Subsidiaries and Associates

Subsidiaries	Share (%)	Field of Activity	Country
Rotor Elektrik Üretim AŞ	100	Electricity Generation	Turkey
Zorlu Hidroelektrik Enerji Üretim AŞ	100	Electricity Generation	Turkey
Zorlu Jeotermal Enerji Elektrik Üretimi AŞ	100	Electricity Generation	Turkey
Zorlu Enerji Pakistan Ltd.	100	Electricity Generation	Pakistan
Zorlu Rüzgar Enerjisi Elektrik Üretimi AŞ	100	Electricity Generation	Turkey
Zorlu Doğal Elektrik Üretimi AŞ	100	Electricity Generation	Turkey
Zorlu Elektrik Enerjisi İthalat İhracat ve Toptan Ticaret AŞ	100	Electricity Trade	Turkey
Zorlu Solar Enerji Tedarik ve Ticaret AŞ	100	Electricity Generation & Sales, Sale of Solar Photovoltaic Panels	Turkey
Zorlu Wind Pakistan (Private) Ltd.	99.7	Electricity Generation	Pakistan
Nemrut Jeotermal Elektrik Üretimi AŞ	75	Electricity Generation	Turkey
Zorlu Osmangazi Enerji Sanayi ve Ticaret Anonim Şirketi	100	Electricity Distribution & Retail Sales	Turkey
Zorlu Solar Pakistan (Private) Limited	99.7	Electricity Generation	Pakistan
Zorlu Renewable Pakistan (Private) Limited	99.7	Electricity Generation	Pakistan
Zorlu Sun Power (Private) Limited	99.7	Electricity Generation	Pakistan
Zorlu Enerji Dağıtım AŞ	100	Natural Gas Distribution	Turkey
Gazdaş Gaziantep Doğal Gaz Dağıtım AŞ	90	Natural Gas Distribution	Turkey
Trakya Bölgesi Doğal Gaz Dağıtım AŞ	90	Natural Gas Distribution	Turkey
ZJ Strong Energy for Renewable Energy Ltd. Co.	75	Electricity Generation	Palestine
Adnit Real Estate Ltd.	42.15	Electricity Generation	Israel

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