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Our Company's H1 2024 Investor Presentation is available for the information of our investors in the presentations section (www.cates.com.tr/en/presentations) of our Company's Investor Relations website.

Our Company's 2023 Investor Presentation is also attached for the information of our investors.

Financial Results Evaluation

Çates completed the first half of 2024 with 844 GWh generation, TL 2,059 million sales revenue, TL 177 million EBITDA and TL 138 million net loss for the period.

- In the first half of the year, gross electricity generation decreased by 10% compared to the same period of the previous year due to low electricity prices, planned maintenance of our power plant and shutdowns in production.

- Planned maintenance works and production shutdowns in the first half of the year reduced the operating days/hours of the power plant, while the availability rate was recorded as 67% and the capacity factor as 61% .

- In the first half of the year, in line with our strategic planning, raw material (coal) stocks were purchased at favourable costs and it is aimed to produce more cost-effective production for the second half of the year.

- The Energy Market Regulatory Authority (EMRA) increased the hourly electricity ceiling price from 2,700TL/MWh to 3,000TL/MWh as of 1 July 2024. The average Market Clearing Price (MCP), which was 2,000.77 TL in the first half of 2024, was realised as 2,588.83 TL in July due to the increase in demand and the increase in the ceiling price. In August 2024, the MCP is at a similar level to July (TL 2,500 - TL 2,600).

- Our power plant generated 203 GWh of gross electricity in July 2024. In the same period, the availability rate of our power plant was 95% and the capacity factor was 87% . Our power plant continues to produce with a similar production trend in August.

Best regards

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.