PUBLIC DISCLOSURES

HOMEPAGE

17.05.2022 - Regarding Foreign Currency Liabilities

Çan2 Termik A.Ş. has hedged its all euro dominated the principal and interest payments amounting to 46 Mn Euro to be paid until June 2024 through forward and deposit transactions.

Kindly announced to the public.


In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.


18.01.2022 - Committees of the Board of Directors


With regard to the committees established within the framework of the provisions in the Capital Markets Board’s Corporate Governance Communiqué No. II-17.1, our Company Board of Directors unanimously resolved that:

the Audit Committee consist of two members, that Mr. Umut Apaydın be elected as the Audit Committee Chairman and Mr. Necdet Akşay as the Audit Committee Member;

the Corporate Governance Committee consist of three members, that Mr. Umut Apaydın be elected as the Committee Chairman and Mr. Necdet Akşay and Mr. Mehmet Erdem Aykın as the Committee Members;

the Early Detection of Risk Committee consist of two members, that Mr. Necdet Akşay be elected as the Committee Chairman and Mr. Umut Apaydın as the Committee Member. The duties / working principles of the committees are attached.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

12.01.2022 - About Submission of the Share Sales Information Form for the Conversion of Shares to Shares Traded on the Exchange, for the Approval of the Board

The disclosure by our main partner Odaş Elektrik Üretim Sanayi Ticaret A.Ş., about its application with the Capital Markets Board, within the framework of CMB Shares Communiqué No. VII-128.1 Article 27 titled “The obligation to issue information form for shareholders of partnerships the shares of which are traded on the exchange”, is attached.

Respectfully submitted to the public.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

28.12.2021 - Registration of the Ordinary General Assembly Meeting for 2020
Information regarding the registration of the Ordinary General Assembly Meeting 2020 is available on the link below.
https://www.kap.org.tr/tr/Bildirim/986738

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

09.12.2021- Distribution of Tasks Among the Board of Directors
It has been unanimously resolved at the Company Board Meeting dated 09.12.2021 that Mr. Burak Altay be elected as the Board Chairman, Mr. Ali Kemal Kazancı as the Vice Chairman, Mr. Mustafa Ali Özal as a Board Member, and Mr. Umut Apaydın and Mr. Necdet Akşay serve as Independent Board Members.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

09.12.2021 – Notification on Dividend Payments for 2020
That no dividend payments shall take place was accepted at the Ordinary General Meeting 2020, as there is no distributable profit according to the consolidated financial statements for the accounting period between 01.01.2020-31.12.2020 prepared as per the provisions of the Communiqué on Principles of Financial Reporting in Capital Markets no. (II-14.1) issued by the Capital Markets Board and independently audited, and as per the financial statements prepared in accordance with the Tax Procedure Law and within the framework of the charts prepared according to Tax Procedure Law on the basis of company activities in 2020.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

09.12.2021- Ordinary General Assembly Meeting Result for 2020
The link for the Ordinary General Assembly Meeting of ÇAN2 Termik A.Ş for 2020 is given below.
https://www.kap.org.tr/tr/Bildirim/982457

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

06.12.2021 - Çan2 Termik A.Ş. Disclosure Policy
Çan2 Termik A.Ş.s Disclosure Policy is attached.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

09.11.2021- Report on the Assumptions Used as the Basis of the Public Offering Price
Please see attached the ‘Audit Committee Report on the Assumptions Used as the Basis of the Public Offering Price,’ prepared pursuant to Section 29(5) of the Capital Markets Board’s Communiqué on Shares No. VII-128.1.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

23.09.2021- About Foreign Exchange Hedge Transactions
Currently, our company has a foreign currency risk of 132.3 million euros in its balance sheet. Our company took a position with a forward contract in the amount of 75 million euros on 17.09.2021

before the interest rate decisions of the U.S. and Turkish Central Banks, and the transaction was finished before EOB.

Respectfully submitted to the public.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

01.09.2021- Report on the Assumptions Used as the Basis of the Public Offering Price
Please see attached the ‘Audit Committee Report on the Assumptions Used as the Basis of the Public Offering Price,’ prepared pursuant to Section 29(5) of the Capital Markets Board’s Communiqué on Shares No. VII-128.1.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

01.09.2021 - Audit Committee Report on the Use of Funds from Public Offering
The Audit Committee report on the Intended Uses of the Funds from public offering as per paragraph 1 of article 33 of the Communiqué on Shares No. SPK VII‐128.1 is attached.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

30.07.2021 –About the International Credit Rating Score
Following its credit rating assessment dated 30.07.2021, JCR Eurasia Rating, an international credit rating agency, has found Çan2 Termik A.Ş. as an investable company by assigning the rating “BBB- (Trk) (Stable Outlook)” to it in terms of a long-term national score.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

30.06.2021 - About the Appointment of an Independent Auditing Firm
The Board of Directors of our Company has decided, in line with the recommendation by the Audit Committee, that Eren Bağımsız Denetim A.Ş. be appointed to carry out the auditing procedures for our Company accounts and transactions for the 2021 activity period in accordance with the provisions set forth in the Turkish Commercial Code No. 6102 and the Capital Markets Law No. 6362 and that this resolution be presented for the approval of our shareholders in the first Ordinary General Assembly Meeting to be held.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

31.05.2021- Report on the Assumptions Used as the Basis of the Public Offering Price
Please see attached the ‘Audit Committee Report on the Assumptions Used as the Basis of the Public Offering Price,’ prepared pursuant to Section 29(5) of the Capital Markets Board’s Communiqué on Shares No. VII-128.1.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

12.05.2021 – Financial and Operational Review 2021 1st Quarter
The English version of this information is available on the website.

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

Financial Review
Çan2 Termik A.Ş's consolidated earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) grew by 51.2% year-on-year for the first quarter of 2021, reaching to 67.8 million TRY. Meanwhile, the consolidated turnover grew by 56.7% to 237.7 million TRY compared to the same period last year. In the meantime, the parent company net loss realized of 160.6 million TRY for the first quarter of 2021. The aforementioned loss for the period is mainly a result of the increase in financial expenses due to the increase in the exchange rates during the respective operating period. The revenues of Çan 2 Termik A.Ş. are predominantly indexed to exchange rates and most of the foreign exchange losses incurred during the relevant period are unrealized losses with no impact on cash flow. At the same time, the proceeds from the public offering of Çan 2 Termik A.Ş. following the respective accounting period contributed to paying off some of the foreign currency loans. This reduced the Group's consolidated foreign currency debt by 15.5% compared to 31 March 2021.

Operational Review
The Çan-2 thermal power plant increased its gross electricity generation by 34% to 527 GWh year-on-year in the period from January to March 2021. Within the same period, the average capacity utilization reached 75%. (Capacity Utilization Rate 55.1% for the Q1 2020 )