Message from the General Manager

Dear Stakeholders,

In 2024, we made notable progress in the areas of sustainable growth, energy efficiency, and technology integration, and further strengthened our financial performance. We are pleased to have concluded the year successfully with the right strategies.

I am also pleased and proud to announce that we have successfully completed the first annual production of Uşak Hybrid SPP, the biggest hybrid solar power plant in Türkiye with an installed capacity of 82.15 MW. In addition to increasing operational efficiency, this project also significantly contributed to our EBITDA. We harness the power of both solar and wind energy with our hybrid power plants, optimizing our power generation and accelerating our sustainable growth.

As part of our Wind Capacity Increase projects, in 2023, we commissioned 11 turbines with an installed capacity of 6 MW each at Uşak WPP and two turbines with an installed capacity of 6 MW each at Söke WPP. These investments had a positive impact on our annual power generation in 2024.

As the biggest and most pioneering renewable energy company in Türkiye, we delivered a strong financial performance in 2024, reaping the benefits of our investments and concluding the year with assets of over TL 56 billion and EBITDA (earnings before interest, tax, depreciation, and amortization) of TL 4 billion 944 million. In line with our steps to reinforce investor confidence, in 2024, we also made the first dividend payment and coupon payments to our foreign investors.

In 2024, we commissioned digital monitoring and optimization systems to raise the efficiency of our energy sites. In the maintenance processes for our 25 power plants, we strengthen operational excellence by utilizing big data and artificial intelligencesupported forecasting systems. We accelerate process improvements by providing our technical teams with further training on innovative technologies. In this context, we achieved an availability rate of 99.7%.

As part of our Uşak WPP Capacity Increase investment, we blazed a trail in Türkiye by means of an innovative approach focused on efficiency. As a result of long-term monitoring and measurement activities, we replaced five turbines of 1.5 MW of old technology with new generation turbines of higher capacity; with an installed capacity of 6 MW, these turbines ensure the highest efficiency in power generation. Through this transformation, we increased not only the efficiency of the existing turbines, but also our power generation capacity.

In 2025, the Uşak WPP capacity increase of 36 MW is planned to be commissioned. The investment process has been concluded, and we are currently awaiting approval from the relevant institution for the commissioning of the power plant. In addition, our 2025 targets include focusing on the license and EIA permit processes of existing investment projects and preparing these projects for investment in the following years. Additionally, we aim to fortify our growth strategy by leveraging new investment opportunities both in Türkiye and abroad.

Respectfully,

Uğur Yüksel

Aydem Renewables General Manager