Subsidiaries and Associates

SUBSIDIARIES

Subsidiaries	Share (%)	Field of Activity	Country
Zorlu Doğal Electricity Generation AŞ	100	Electricity Generation	Turkey
Zorlu Jeotermal Enerji Electricity Generation AŞ	100	Electricity Generation	Turkey
Rotor Elektrik Üretim AŞ	100	Electricity Generation	Turkey
Zorlu Elektrik Enerjisi İthalat İhracat ve Toptan Ticaret AŞ	100	Electricity Trade	Turkey
Zorlu Trade Elektrik Toptan Satış AŞ	100	Trade, Wholesale, Retail Sale, Export and Import of Electricity and/or Electricity Capacity	Turkey
Zorlu Osmangazi Enerji Sanayi ve Ticaret AŞ	100	Electricity Distribution & Retail Sales	Turkey
Zorlu Solar Enerji Tedarik ve Ticaret AŞ	100	Electricity Generation & Sales, Sale of Solar Photovoltaic Panels	Turkey
Zorlu Enerji Dağıtım AŞ	100	Natural Gas Distribution	Turkey
Nemrut Jeotermal Electricity Generation AŞ	75	Electricity Generation	Turkey
ZES Dijital Ticaret AŞ	100	Electricity Sale, Electric Vehicle Renting & Other	Turkey
Zorlu Enerji Pakistan Ltd.	100	Electricity Generation	Pakistan
Zorlu Wind Pakistan (Private) Ltd.	99,7	Electricity Generation	Pakistan
Zorlu Solar Pakistan (Private) Ltd.	99,7	Electricity Generation	Pakistan
Zorlu Renewable Pakistan (Private) Ltd.	99,7	Electricity Generation	Pakistan
Zorlu Sun Power (Private) Ltd.	99,7	Electricity Generation	Pakistan
ZJ Strong Energy for Renewable Energy Ltd. Co.	75	Electricity Generation	Palestine
Zorlu Enerji Israel Ltd.	100	Electricity Generation	Israel
Zorlu Enerji Asia Holding Ltd.	100	Energy Investments	Dubai

ASSOCIATES

Associates	Share (%)	Field of Activity	Country
Dorad Energy Ltd.	25	Electricity Generation	Israel
Ezotech Electric Ltd.	42,15	Electricity Generation	Israel
Solad Energy Ltd.	42,15	Electricity Generation	Israel
Adnit Real Estate Ltd.	42,15	Electricity Generation	Israel

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