ANALYST DAY PRESENTATION

20 August 2021

RECORD - HIGH INCOME POSITIVELY IMPACTED BY RECOVERY IN DOMESTIC OPERATIONS

Key Highlights - 1H21

TL million

Quarterly- 2Q21 vs 2Q20

Net Sales

EBITDA

Net Income

Net Financial Debt

Cumulative-1H21

Net Sales

EBITDA

Net Income

2Q212Q20

2,6201,620

616337

280148

2,886

2,632 (*)

1H211H20

4,7643,467

1,099709

488222

1H211H20

q/q

62%

83%

90%

10%

y/y

37%

55%

119%

y/y

KPIs-1H21

Gross Margin

19%

17%

EBITDA Margin

23%

20%

Net Fin. Debt / EBITDA

1.53x (**)

1.76x (*)

Net Fin. Debt / Equity

52%

57% (*)

+2.3 pp

+2.6 pp

-4.9 pp

(*) As of YE20

2

(**) Rolling EBITDA

FOREIGN OPERATIONS' CONTRIBUTION TO EBITDA AT 59%

Regional Breakdown

TL million

Domestic

Foreign

Quarterly- 2Q21

Net Sales

2,190

430

EBITDA

263

353

Profit Before Tax

181

237

TL million

Domestic

Foreign

Cumulative-1H21

Net Sales

3,972

792

EBITDA

450

649

Profit Before Tax

247

433

Note: Foreign operations include Africa operations only. Northern Cyprus and energy trade operations at Iraq & Georgia are included in domestic operations

Share of Foreign

16%

57%

57%

Share of Foreign

17%

59%

64%

3

740 MW POWER PLANTS IN UZBEKISTAN TO BE OPERATIONAL BY 2021 YE

Uzbekistan Project - Key Highlights

  • 25 year power purchase agreement (PPA) including guaranteed capacity

payment in USD terms signed with the Ministry of Energy of Uzbekistan

TO BE COMPLETED IN 12 MONTHS

on May'20 regarding 240 MW natural gas combined cycle (CCGT) power

plant in Tashkent, the capital of Uzbekistan

  • On 20 January 2021, above mentioned agreement has been amended with 230 MW capacity expansion and additionally, another agreement has been signed regarding construction of 270 MW CCGT in Bukhara.
    Both agreements involve sale of the energy generated in these power plants based on a USD denominated guaranteed capacity payment for a duration of 25 years
  • Power Plant Equipments to be relocated from existing power plants where possible
    • Low CAPEX
    • Use of idle equipment to increase revenues and overall production
  • Natural gas to be provided by Uztransgaz, the natural gas supply company of Uzbekistan
    • Lower commercial risk
    • No need for cash or bank line for procurement
    • No logistic need for transportation of natural gas
    • No need for storage

4

Uzbekistan Project - Current Status - Tashkent A UPDATE

5

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Disclaimer

Aksa Enerji Uretim AS published this content on 24 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2021 14:23:02 UTC.