Aksa Energy Posts TRY 7.3 Billion EBITDA in the First Half

Aksa Energy posted TRY 7.3 billion in EBITDA in the first half of 2026, with its EBITDA margin reaching an all-time high of 36%. Continuing to grow with a focus on capacity, geographical and resource diversification through investments accelerated in recent years, the Company fully commissioned its 264 MW Kyzylorda Power Plant in Kazakhstan for commercial operations during the period, while completing the combined-cycle conversion of the 179 MW first phase of its 350 MW Kumasi investment in Ghana. The Company also commissioned the first projects within its energy storage-integrated renewable energy investments in Türkiye.

Having evolved into a global energy company with operations at 15 power plants across 8 countries and an installed capacity exceeding 3,500 MW, Aksa Energy announced its consolidated financial results for the first half of 2026. During the period, the Company recorded TRY 7.3 billion in EBITDA and TRY 1.2 billion in net profit, while its EBITDA margin stood at 36%.

Aksa Energy increased its operational capacity as its ongoing investments were commissioned in succession. The full commercial commissioning of the 264 MW Kyzylorda Power Plant in Kazakhstan strengthened the Company’s presence in Central Asia, while its energy storage-integrated renewable energy investments enhanced resource diversification and contributed to Türkiye’s energy transition. The completion of the combined-cycle conversion of the 179 MW first phase of the Kumasi Natural Gas Combined Cycle Power Plant in Ghana, which is being developed in two phases and is planned to reach a total installed capacity of 350 MW, also marked an important step in the Company’s long-term growth strategy in Africa.

Aksa Energy CEO and Chairman of the Executive Board Naci Ağbal commented:

“The first half of 2026 was a period in which the results of our ongoing investment program became much more visible. While maintaining our financial discipline and operational focus, we strengthened our capacity and geographical diversification through new investments. With the full commissioning of our Kyzylorda Power Plant in Kazakhstan, we expanded our presence in Central Asia, while in Türkiye we brought the first projects within our energy storage-integrated renewable energy investments into operation. In Ghana, the flagship of our African operations, we completed the combined-cycle conversion of the 179 MW first phase of our Kumasi Power Plant investment and increased our total installed capacity in the country to 549 MW.

In the period ahead, we will continue to contribute to Türkiye’s energy transition by progressively implementing our 941 MW portfolio of energy storage-integrated renewable energy investments. At the same time, we do not view growth solely as an increase in installed capacity. Executing the right project with the right contract and financing model, increasing our resource and geographical diversification, and supporting our expanding global operations with a strong corporate infrastructure form the foundation of our sustainable high-growth strategy. Our internationally recognized financing models and digital transformation investments have been important steps supporting this strategy. By maintaining our financial discipline, we will continue to create long-term value in Türkiye and across the geographies where we operate.”

Aksa Energy’s Installed Capacity in Central Asia Reaches 1,484 MW

In the first half, Aksa Energy fully commissioned the 264 MW Kyzylorda Combined Heat and Power Plant in Kazakhstan for commercial operations. With this first investment in Kazakhstan and its 1,220 MW installed capacity in Uzbekistan, the Company increased its total installed capacity in Central Asia to 1,484 MW. Employing approximately 100 local people at the Kyzylorda Power Plant, Aksa Energy contributes to the region’s security of energy supply through its investments while also supporting the local economy and employment.

Installed Capacity in Ghana Rises to 549 MW

Aksa Energy completed another important milestone in its growth program in Ghana. The combined- cycle conversion of the 179 MW first phase of the Kumasi Natural Gas Combined Cycle Power Plant, which is being developed in two phases and is planned to reach a total installed capacity of 350 MW, was completed. The first phase, which had been operating commercially in simple-cycle mode at a capacity of 130 MW since January, was converted into a more efficient combined-cycle configuration upon completion of the technological transformation. As a result, together with the 370 MW Tema Power Plant, which Aksa Energy has operated since 2017, the Company’s total installed capacity in Ghana reached 549 MW.

The Kumasi Power Plant, financed and constructed by Aksa Energy under a 20-year US dollar- denominated guaranteed sales agreement, is also operated and maintained by the Company. Through combined-cycle technology, the plant generates more electricity using the same amount of fuel, contributing to Ghana’s security of energy supply with more efficient and reliable generation capacity. More than 130 local employees work across Aksa Energy’s Ghana operations, with local employees accounting for 64% of the total workforce.

First Facilities Begin Generation in Energy Storage-Integrated Renewable Energy Projects

In the first half, Aksa Energy took significant steps in renewable energy and energy storage investments supporting Türkiye’s energy transition. The Pamuk Energy Storage-Integrated Solar Power Plant in Gaziantep commenced commercial generation, while the RASA Standalone Electricity Storage Facility in Şanlıurfa became Türkiye’s first standalone electricity storage facility commissioned under a supply license. During the same period, the electricity generation licenses for the 82.16 MW Energy Storage-Integrated Wind Power Plant project planned in Manisa and the 10 MW Fatih Energy Storage-Integrated Solar Power Plant project planned in Kayseri were approved by the Energy Market Regulatory Authority (EMRA). Aksa Energy continues its efforts to implement its portfolio of energy storage-integrated renewable energy investments, which is planned to reach a total installed capacity of 941 MW across 11 provinces in Türkiye.

Financing Strength and Corporate Transformation Support Growth

Aksa Energy continues to support its growth strategy through international financing partnerships and a strong corporate infrastructure. The Company received the “Best Solar Energy Financing Deal” and “Best Power Financing Deal in Africa” awards for its energy investments across different geographies and the financing structures supporting these investments.

While diversifying its financing sources, Aksa Energy also strengthened the corporate infrastructure supporting its expanding global operations. As part of Project Nexus, the Company went live with its SAP S/4HANA transformation, taking an important step toward bringing its operations across three continents together on a common and integrated digital infrastructure. During the same period, Aksa Energy was included in the BIST 50 Index while maintaining its position in the BIST Sustainability and BIST Corporate Governance indices. The Company’s Corporate Governance Compliance Rating increased by 11 basis points year-on-year to 9.54 out of 10.