ZORLU ENERJİ ELEKTRİK ÜRETİM A.Ş.

Share Issue/Capital Change • Jan 31, 2023

Summary Info	Amendment Regarding Board's Decision for Rights Issue
Update Notification Flag	No
Correction Notification Flag	Yes
Postponed Notification Flag	No
Reason of Correction	Amendment Regarding Board's Decision for Rights Issue

Board Decision Date	31.01.2023
Authorized Capital (TL)	6.000.000.000
Paid-in Capital (TL)	2.500.000.000
Target Capital (TL)	5.000.000.000

Rights Issue (Via Preemptive Right)

Share Group Info	Paid-in Capital (TL)	Preemptive Rights Amount (TL)	Preemptive Rights Rate (%)	Preemptive Rights Price	Share Group Issued	New Shares'' ISIN	Form	Preemptive Rights ISIN Code	Unused Rights Amount (TL)	Amount of Shares Cancelled (TL)
A Grubu, İşlem Görmüyor, TREZORN00012	250.000.000	250.000.000,000	100,00000	1,00	A Grubu	A Grubu, İşlem Görmüyor, TREZORN00012	Registered
B Grubu, ZOREN, TRAZOREN91L8	2.250.000.000	2.250.000.000,000	100,00000	1,00	B Grubu	B Grubu, ZOREN, TRAZOREN91L8	Registered

	Paid-in Capital (TL)	Preemptive Rights Amount (TL)	Preemptive Rights Rate (%)	Unused Rights Amount (TL)	Amount of Shares Cancelled (TL)
TOTAL	2.500.000.000	2.500.000.000,000	100,00000

Explanation About The Shares Not Sold	Zorlu Holding AŞ has pledged to purchase any remaining shares fully and in cash at the end of the offering period within 3 business days at a price not below the average of the public offering prices.
Currency Unit	TRY

Additional Explanations

Due to reassessment of the Company's need for capital, the rate of cash capital increase determined by the Board of Directors' resolution dated 19.01.2023 and numbered 2023/6 is revised as 100%, thus;

In accordance with the Board of Directors' decision dated 26.09.2022 and numbered 2022/40, which was announced to the public on 27.09.2022 and pursuant to authorization set forth in Article 6 of the Company's Articles of Association, Zorlu Enerji's paid-in capital will be increased from TL 2,500,000,000 (two billion five hundred million Turkish lira) to TL 5,000,000,000 (five billion Turkish lira), which is within the registered capital ceiling of TL 6,000,000,000 (six billion Turkish lira), via a 2,500,000,000 (two billion five hundred million Turkish lira) rights issue (by 100%) in order to provide additional working capital, reduce financial debt via principal and interest payments, repay debt to existing vendors and meet the capital need required by the business operations in accordance with the Company's medium and long term plans,

The existing shareholders' pre-emptive rights will not be restricted and they will subscribe to the rights issue at a price of 0.01 Turkish lira for each share with a nominal value of 1 Kuruş (0.01 Turkish lira),

Pursuant to the Board resolution of Zorlu Holding AŞ dated 31.01.2023 and numbered 2023/6, Zorlu Holding's total cash contribution to the capital increase will be met from the capital advance payment formerly made in cash to the Company as verified by the financial advisor's report,

Pursuant to the Board resolution of Korteks Mensucat Sanayi ve Ticaret AŞ (Korteks) dated 31.01.2023 and numbered 2023/6, Korteks' total cash contribution to the capital increase will be met from the capital advance payment formerly paid in cash to the Company as verified by the financial advisor's report,

Group A shareholders will receive Group A shares and Group B shareholders will receive Group B shares in the rights issue,

The subscription period will be 15 days, which will end on the following business day if the last day falls on a national holiday,

The unexercised shares will be offered for sale as Group B shares in the Primary Market of Borsa Istanbul at a price not less than the nominal value for 2 business days following the expiration of the subscription period

The Group B shares to be issued in the rights issue will be in the form of "tradable shares on the stock exchange",

As per its Board's decision dated 31.01.2023 and numbered 2023/6, Zorlu Holding AŞ has pledged to purchase any remaining shares fully and in cash at the end of the offering period within 3 business days at a price not below the average of the public offering prices.

Zorlu Enerji's management is authorized to make necessary applications to relevant authorities and carry out all necessary transactions regarding the right issue.

This statement was 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.