Message from the General Manager

Dear Stakeholders,

As Türkiye’s leading and largest renewable energy company, we are proud to complete another year where we contributed greatly to our country’s clean energy transformation and development.

We offer innovative solutions with our power plants located in four different regions of Türkiye, and with our clean energy production using 100 percent renewable resources, we continue our efforts to remain the leader in the energy sector.

We continued our studies to increase our renewable energy production and realize our sustainability vision in 2022 as well. With efficiency-increasing investments in all of our plants, as well as our high quality operation and maintenance-repair capabilities, we have attained the high availability ratio of 99.6%. As a result of all this, and with the help of rainfall in 2022 averaging that of many years, we produced 2,469 GWh electricity and contributed to our country’s supply of clean energy.

We accelerated our efforts to increase the capacity of the Wind Power Plants in our portfolio in 2022 to increase our share of green investments in Türkiye’s energy production strength. With the projects we developed, we project a capacity increase of 114 MW in our Uşak WPP and Söke WPP facilities by the end of 2023.

We aim to increase our installed power by another 150.9 MW by the end of 2024 with the investments we plan to make. Some 73.46 MW of our aforementioned investments consists of Land Hybrid Solar Power Plant projects, 31.44 MW consists of Floating Hybrid SPP projects, and 46 MW consists of WPP Capacity Increase projects. Furthermore, we plan to commission our 102.3 MW Land Hybrid SPP project in addition to our production plants with storage in 2025. As such, we plan to increase our installed power by 949.35 MW by the end of 2025 with our Hybrid SPP, WPP Capacity Increase, and Production Plants with Storage investments. As a result, in addition to doubling our installed power, we will also have increased resource diversity in our renewable energy production portfolio.

Our priority when carrying out our renewable energy production is always people. We have formulated the necessary strategies to carry out our operations within the health-safety-welfare triangle with the slogan "People first" for a safe and sustainable future.

With strategies that aim to minimize risks to our employees’ safety and health, we have provided a healthy, safe, and motivating work environment for our employees and, as a result, our company experienced no accidents with day losses in 2022. In addition to this, we adopted an approach in compliance with the ISO 45001:2018 “Occupational Health and Safety Management System” and targeted high performance and continuous improvement.

We aim to maintain the highest standards for the health and safety our employees. To this end, we support our employees with training and awareness programs, and strive for continuous improvement. In addition to providing 556 employees with 40 hours of training per person in 2022, we also initiated digitalization work in the areas of occupational health and safety.

The company is working non-stop to maintain the highest levels of sustainability and respect for the environment. We are implementing projects to preserve biodiversity, and we are continuing to monitor the fauna inventory around our plants without pause. We recorded notable achievements in international independent rating reports in this area and also became signatories to key international initiatives.

By receiving an “A Leadership Level” rating in both Water Security and Climate Change reporting performed under the Carbon Disclosure Project (CDP), we became the first energy company in our country to join the Global A List and the only company to join the A list in both of these categories in 2022.

In order to overcome the problems caused by climate change, in line with the responsible energy production at our focus, we have become one of the first and leading companies in the energy sector to sign the Science-Based Targets Initiative - SBTi commitment letter, also encompassing net zero targets for science-based objectives, in November 2022.

Aydem Renewables has set a long-term, science-based target to reach net-zero value chain greenhouse gas emissions latest by 2050 in compliance with SBTi’s NetZero Standard. By committing to publishing our targets within 24 months for SBTi verification, we agreed to join the “Business Ambition” campaign for 1.5°C and decided to take part in the “Race to Zero” campaign in the days ahead.

Aware that combating climate change is one of the biggest responsibilities companies have, we are committed to fulfilling the requirements of our sustainability vision.

Aydem Renewables is carrying out important studies not only in energy production but also in sustainable development and social responsibility. Aware of our societal responsibility, we intend to cooperate with local communities and contribute to social and economic growth. To this end, we have completed social responsibility projects in many areas from education and health to environmental protection and local development. We signed the Women’s Empowerment Principles (WEPs) formed with the cooperation of the United Nations Social Gender Equality and Women’s Empowerment Unit (UN Women) and the UN Global Compact. We have also published our "Procedure for Eliminating Domestic Violence" to create awareness of domestic violence issues and create a system where our employees who are victims of domestic violence can receive support in trust and confidentiality.

In line with our objective of being a leading and exemplary company in the area of sustainability, we maintain the highest levels of care for our human resources. We aim to create a health working environment for our employees by making investments for their satisfaction, happiness, and growth.

Our efforts contributing to employee experience, growth, engagement, and happiness in 2022 have been awarded by the Great Place to Work Institute. Following the assessment made by our employees we met the criteria for “reliability, respect, fairness, pride, and team spirit” and took our place on the “Best Employers in Türkiye List.. This success indicates our employees’ trust in us and our commitment to them.

We are aware that these successes are but one milestone for our company. In line with our sustainability-based vision, we aim to achieve many more successes in the future with the devotion of our employees. We will continue to make the maximum contribution to a sustainable future with new investments that will increase our renewable energy production portfolio and the investments we will make in human resources.

Respectfully,

Serdar Marangoz

Aydem Renewables Vice Chairman of the Board of Directors & General Manager