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As disclosed in our Company's public disclosure dated 27 March 2014, Turcas Yenilenebilir Enerji Üretim A.Ş. (our Company's 100% subsidiary) had obtained the geothermal sources exploration license for Manisa-Gölmarmara-Hacıveliler region, numbered 2014/01, for a period 3 years, valid from the date of 20.03.2014. Our Company has been informed that Manisa Provincial Directorate of Special Administration has extended the above mentioned geothermal sources exploration license for 1 year upon the request of Turcas Yenilenebilir Enerji Üretim A.Ş. Geology and geophysics exploration works are completed in the mentioned region. Turcas Yenilenebilir Enerji Üretim aims to detect geothermal energy source in the region via drillings in the upcoming months. Further developments related to this matter shall be shared with the public.

Above mentioned geothermal exploration field in Manisa is the third geothermal field within Turcas Group in parallel with the ambition to diversify energy generation portfolio and focus on renewable energy projects. In light of previous disclosures by our Company, most update information about the other two geothermal power plant projects in Aydın and Denizli can be found belo

1) Aydın: Our Company's 92% subsidiary Turcas Kuyucak Jeotermal Elektrik Üretim A.Ş. has reached the targeted geothermal energy sources via 6 production and 2 re-injection wells (8 wells in total) drilled successfully over the last 3 years in Aydın Kuyucak. Accordingly, 18 MW geothermal power plant project is planned to be operational in the last quarter of 2017. The mentioned project is currently in construction and investment phase. Further developments regarding the project will be shared with the public.

2) Denizli: Our Company's 100% subsidiary Turcas Yenilenebilir Enerji Üretim A.Ş. has started geothermal drilling in DNZ-02 well located in Denizli Hacıeyüplü field as of 9 February 2017. According to drilling results, investment decision regarding development of the geothermal field will be taken by the Board of Directors. Further developments regarding the project will be shared with the public.