Aksa Enerji Uretim A.s. · BIST:AKSEN

Aksa Enerji Uretim A.s — H1 2026 Earnings Presentation

20 slides from Aksa Enerji Uretim A.s's earnings presentation, Aug 14, 2026

  1. Slide 1: 1H 2026 Earnings Presentation

    1 1H 2026 EARNINGS PRESENTATION 14 AUGUST 2026

  2. Slide 2: Key Highlights – 1H'26

    Key Highlights – 1H’26 EBITDA MARGIN AT A HISTORIC HIGH OF 36% TL million 1H’26 1H’25 y/y 1H’26 vs 1H’25 Net Sales 19,988 26,515 -25% EBITDA 7,257 7,789 -7% Net Income 1,173 1,786 -34% (*) Net Financial Debt 59,478 56,411 5% 1H’26 1H’25 y/y KPIs-1H’26 vs 1H’25 Gross Margin 31% 23% +8 pp EBITDA Margi

  3. Slide 3: Regional Breakdown

    Regional Breakdown FOREIGN OPERATIONS’ CONTRIBUTION TO EBITDA AT 83% TL million Domestic Foreign Share of Foreign Cumulative- 1H’26 8,703 11,285 44% Net Sales 56% 17% EBITDA 1,224 6,034 83% Profit Before Tax -2,069 4,958 TL million Domestic Foreign Share of Foreign 28% Cumulative- 1H’25 Net Sales 18

  4. Slide 4: Price Evolution in Turkish Market

    Price Evolution in Turkish Market Price SPOT PRICES IN Evolution in Turkish TURKIYE DECREASED Market BY 35% Y/Y IN 1H’26 Average Spot Electricity Prices (TL/MWh) 4.250 3.500 July 2026 AVG: 2.878 2.832 2,700 TL/MWh 2.750 (194% higher than 2Q’26) 2.371 2.198 2.000 1.250 917 500 2Q25 3Q25 4Q25 1Q 26 2Q

  5. Slide 5: Antalya PP - Key Highlights

    Antalya PP - Key Highlights ANTALYA- 900 MW NATURAL GAS CCGT Ali Metin Kazancı GENERATION Antalya IMPACTED Power BY EXTREME Plant –CONDITIONS WEATHER Key Highlights Antalya Power Plant Location Technical Overview < ◼ Energy Source: Natural Gas Plant Overview ◼ Installed Capacity: 900 MW CCGT ◼ CoD:

  6. Slide 6: Bolu PP - Key Highlights

    Bolu PP - Key Highlights BOLU GÖYNÜK- 270 MW LOCAL LIGNITE POWER PLANT Bolu POWERGöynük Power PURCHASE Plant –WITH AGREEMENT KeyEUAS Highlights IS EFFECTIVE FROM NOV’25 ONWARDS Bolu Göynük Power Plant Location Technical Overview ◼ Energy Source: Local Lignite Plant Overview ◼ Installed Capacity: 270

  7. Slide 7: Gaziantep Pamuk SPP with Storage – Key Highlights

    Gaziantep Pamuk SPP with Storage – Key Highlights GAZİANTEP PAMUK- 40.5 MW SOLAR POWER PLANT WITH STORAGE BoluSOLAR FIRST Göynük Power POWER Plant PLANT WITH–STORAGE Key Highlights INVESTMENT Gaziantep SPP with Storage Location Technical Overview ◼ Energy Source: Solar Power Plant Overview ◼ Install

  8. Slide 8: Şanlıurfa Independent Storage Facility – Key Highlights

    Şanlıurfa Independent Storage Facility – Key Highlights ŞANLIURFA- 50 MW INDEPENDENT STORAGE FACILITY BoluINDEPENDENT FIRST Göynük Power PlantFACILITY STORAGE – Key IN Highlights TÜRKİYE Şanlıurfa Independent Storage Facility Location Technical Overview ◼ Installed Capacity: 50 MW (61.93 MW storage

  9. Slide 9: Northern Cyprus - PP Key Highlights

    Northern Cyprus - PP Key Highlights NORTHERN CYPRUS 188 MW COMBINED CYCLE HFO POWER PLANT USD BASED GUARANTEED ENERGY SALES Northern Cyprus Power Plant Location Technical Overview ◼ Energy Source: Liquid Fuel ◼ Installed Capacity: 188 MW Combined Cycle Plant Overview ◼ CoD: 2003 ◼ Contract Expiry: 2

  10. Slide 10: Tashkent, Bukhara & Tallimarjon PP – Key Highlights

    Tashkent, Bukhara & Tallimarjon PP – Key Highlights INSTALLED CAPACITY IN UZBEKISTAN REACHED 1,220 MW Tashkent A, B and Bukhara Power Plants – Key Highlights Uzbekistan Power Plants’ Locations Technical Overview ◼ Energy Source: Natural Gas (CCGT) ◼ Installed Capacity: 1,220 MW (A: 240 MW; B: 252 MW

  11. Slide 11: Kazakhstan Kyzylorda PP – Key Highlights

    Kazakhstan Kyzylorda PP – Key Highlights KAZAKHSTAN KYZYLORDA 264 MW COMBINED HEAT AND POWER PLANT TENGE BASED GUARANTEED ENERGY SALES Kazakhstan Kyzylorda Power Plant Location Technical Overview ◼ Energy Source: Natural Gass ◼ Installed Capacity: 264 MW Plant Overview ◼ CoD: 01.06.2026 ◼ Fuel costs

  12. Slide 12: Africa Operations – Key Highlights

    Africa Operations – Key Highlights LONG TERM GUARANTEED ENERGY SALES IN HARD CURRENCY & Mali FUEL Power Plant – Key IS PASS THROUGH Highlights IN ALL OF OUR OVERSEAS OPERATIONS Africa Power Plants’ Locations Technical Overview ◼ Energy Source: Natural Gas + Liquid Fuel ◼ Installed Capacity: 370 MW P

  13. Slide 13: Growth Plan (I/II)

    Growth Plan (I/II) INSTALLED CAPACITY TO REACH 6 GW IN 2029… Installed Capacity-MW 2025 2Q'26 3Q'26E 4Q'26E 2027E 2028E 2029E Turkey- Thermal 1,170 1,170 1,170 1,170 1,170 1,170 1,170 Turkey- Renewables - 91 141 286 628 976 976 KKTC 188 188 188 188 188 188 188 Uzbekistan 1,220 1,220 1,220 1,220 1,22

  14. Slide 14: Growth Plan (II/II)

    Growth Plan (II/II) RENEWABLE CAPACITY SHARE IN 2029: 16% 7,000 Yenilenebilir Renewables Kapasite Capacity Oranı: Ratio: %16 16% 6,000 5,000 2,174 1,799 4,000 1,322 1,030 3,000 1,484 1,484 546 1,484 1,484 2,000 1,220 976 976 286 628 - 1,000 1,358 1,358 1,358 1,358 1,358 - 2025 2026E 2027E 2028E 2029

  15. Slide 15: Current Contract Structure

    Current Contract Structure FOREIGN CURRENCY-DENOMINATED, LONG-TERM CONTRACT STRUCTURE 15

  16. Slide 16: Consolidated Summary Income Statement

    Annex CONSOLIDATED SUMMARY INCOME STATEMENT 1H’26 1H’25 y/y MM TL Net sales 19,988 26,515 -25% Cost of sales (13,813) (20,433) -32% Gross Profit 6,175 6,082 2% General & administrative costs (988) (1,027) -4% Marketing expenses (28) (33) -17% Other operating income 494 588 -16% Other operating expen

  17. Slide 17: Consolidated Summary Balance Sheet

    Annex CONSOLIDATED SUMMARY BALANCE SHEET 1H’26 YE’25 ytd MM TL Cash and cash equivalents 3,870 7,678 -50% Trade receivables 8,502 9,006 -6% Inventories 3,236 2,619 24% Total Current Assets 20,101 23,541 -14% PP&E 122,137 120,326 2% Intangibles 3,897 4,067 -4% Total Non-current Assets 131,606 129,064

  18. Slide 18: Consolidated Summary Quarterly Income Statement

    Annex CONSOLIDATED SUMMARY QUARTERLY INCOME STATEMENT 2Q2026 2Q2025 Y/Y 1Q2026 Q/Q MM TL Net sales 9,336 13,028 -%28 10,652 -12% Cost of sales (6,094) (10,147) -%40 (7,719) -21% Gross Profit 3,242 2,881 %13 2,933 11% General & administrative costs (477) (543) -%12 (511) -7% Marketing expenses (19) (

  19. Slide 19: Contact Information

    Contact Information INVESTOR RELATIONS Pınar Saatcıoğlu Investor Relations and Sustainability Director investorrelations@aksaenerji.com.tr +90 216 681 1053 Rüzgarlıbahçe Mh . Özalp Çıkmazı No:10 Kavacık / Beykoz Istanbul Aksa Enerji Üretim A.Ş. İnternet düz dolguyla https://www.aksaenerji.com.tr/inv

  20. Slide 20: Disclaimer

    DISCLAIMER Aksa Energy has prepared this presentation for the sole purpose of providing information, which contains forward-looking statements that reflect the Company management’s current views with respect to certain future events. Although it is believed that the expectations reflected in these s

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