ZORLU ENERJİ ELEKTRİK ÜRETİM A.Ş.

Share Issue/Capital Change • Jan 20, 2023

Summary Info	Board's Decision for a Rights Issue
Update Notification Flag	No
Correction Notification Flag	Yes
Postponed Notification Flag	No
Reason of Correction	Updating the Pre-emptive Right Price Regarding the Rights Issue (Exercising Pre-emptive Right) Table

Board Decision Date	19.01.2023
Authorized Capital (TL)	6.000.000.000
Paid-in Capital (TL)	2.500.000.000
Target Capital (TL)	6.000.000.000

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	350.000.000,000	140,00000	1,00	A Grubu	A Grubu, İşlem Görmüyor, TREZORN00012	Registered
B Grubu, ZOREN, TRAZOREN91L8	2.250.000.000	3.150.000.000,000	140,00000	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	3.500.000.000,000	140,00000

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

In our material event disclosure dated 19 January 2023, the pre-emptive right exercise price was inadvertently written as 0.01 TL and has been corrected as 1 TL in the relevant table.

The Board of Directors of Zorlu Enerji Elektrik Üretim AŞ ("Zorlu Enerji") made the following decisions:

- Zorlu Enerji's paid-in capital will be increased from 2,500,000,000 TL (two billion and five hundred million Turkish liras) to 6,000,000,000 TL (Six billion Turkish liras), which is within the registered capital ceiling of 6,000,000,000 TL (Six billion Turkish liras), via a 3,500,000,000 TL (Three billion and five hundred million Turkish liras) rights issue (by 140%) based on the Article 6 of the Company's Articles of Association, in order to meet the capital need required by the planned investments by reducing the Company's foreign currency credit risk and by strengthening the balance sheet and financial position, in accordance with the Board of Directors' resolution dated 26.09.2022 and numbered 2022/40, which was announced to the public on 27.09.2022,

- 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 19.01.2023 and numbered 2023/4, 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 19.01.2023 and numbered 2023/4, 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 19.01.2023 and numbered 2023/4, 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 will be authorized to carry out all the necessary transactions for the right issue.

This statement has been 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.