Zorlu Enerji Turns Cooperation with WH into Partnership

Zorlu Enerji is converting its long-term cooperation with Wren House Infrastructure LP (WH), a direct subsidiary of Kuwait Investment Authority (KIA), into a partnership. As part of Zorlu Enerji's new financial resource creation and long-term borrowing strategy, the Company aims to strengthen its foreign capital and expand its investments through various agreements with WH and KIA. Under the agreements, Zorlu Enerji's electric vehicle charging station and energy efficiency investments realized to date and in the future will be managed under a new company to be established abroad. To support the growth and globalization process continuing with the ZES and electrip brands, WH will hold a majority stake (50+1 percent) in the new company. Zorlu Enerji's CEO Sinan Ak and CFO Elif Yener will assume the same roles in the newly established company. Following the company's establishment, Nicola De Sanctis will join the Board of Directors as Chairman and Gab Barbaro as Board Member to support the company's growth in Europe. Additionally, as a result of the sale of Zorlu Enerji Elektrik Üretim AŞ (Zorlu Enerji) shares held by Zorlu Holding, WH will become a minority shareholder with a 12.34 percent stake. Through the agreements concluded to strengthen Zorlu Enerji's balance sheet and financial position, the Company aims to reduce its foreign currency debt risk and extend repayment maturity. In this context, the remaining balance from the credit agreement will be rescheduled until 2028.

Zorlu Enerji CEO Sinan Ak made the following statement regarding the agreements signed to strengthen the company's financial infrastructure:

"We began investing in electric vehicle charging stations in 2018. Today, we are a market leader in Turkey with a multilingual platform developed by our own software developers that we can commercialize, and we provide customer service and after-sales support. We embarked on a journey to extend the knowledge and experience we have gained here to overseas markets. We have established our companies in Eastern and Western Europe. We will continue to invest in Europe and America. For this purpose, we have started to build our teams. Strategically, we will continue our path with our new brand 'electrip' overseas and 'ZES' in Turkey. We want to be a growing company not only in the charging station business but also in the energy efficiency sector. We are extremely pleased to embark on this journey with WH, our global partner providing investment support. With this step, we aim to become a company with a say in the global arena, just as we do in Turkey."