Securing of Financing for Oriana Solar Project of Sabanci Renewables Inc.

On March 28, 2024, a project finance facilities amounting to USD 243 million has been signed by Sabanci Renewables Inc., a wholly-owned indirect subsidiary of Sabancı Holding through Sabancı İklim Teknolojileri A.Ş., with the equal participation of MUFG Bank Ltd., ING Bank LLC and NORD LB (Norddeutsche Landesbank Girozentrale) for the Oriana Solar Project, which consists of a 232 MW solar power plant investment that is expected to reach commercial operation in the second quarter of 2025, as previously disclosed to public.

In addition, Sabancı Renewables Inc.'s investments on 272 MW Cutlass II Solar Project, which was previously announced to be completed in the second quarter of 2024, is currently at commissioning stage. Sabancı Renewables Inc. will reach a total renewable energy portfolio of 504 MW in the USA, upon completeion of both Cutlass II and Oriana Solar Projects.