[CONSOLIDATION_METHOD_TITLE] [CONSOLIDATION_METHOD]
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Material Event Disclosure General
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Hayır (No)
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As previously announced in our Company's Public Disclosure dated 08.11.2019, our 30% subsidiary RWE & Turcas Güney Elektrik Üretim A.Ş. ("RTG")'s Board of Directors decided to include 347,681,920 TL of the shareholder loan receivables into capital. Capital increase transaction has been approved by shareholders at RTG's Extraordinary General Assembly held today (15.11.2019).

Turcas Petrol A.Ş. ("Turcas")'s 30% share in shareholder loan receivables which will be included into capital amounts to 104,304,576 TL. As a result of this transaction, paid-in capital of RTG will reach 1,874,681,920 TL from current 1,527,00,000 TL. Following the transaction, there will not be any change in the 30% shareholding ratio of Turcas at RTG. Thanks to this transaction, shareholder loan principal, interest and VAT payments of RTG to shareholders will be terminated. Therefore, capital of our subsidiary will be strengthened while cash generation and efficiency will be enhanced. As already understood from the explanations, capital increase will be funded from shareholder loan receivables. Therefore, there won't be any cash outflow or new funding requirement.

Above mentioned transaction is expected to be finalized before the end of 2019, following all necessary legal approvals. Following the finalization of this transaction, there will be a timely public disclosure.

Kind regards,