CONSOLIDATED BALANCE SHEETS AT 31 DECEMBER 2007 AND 2006 (Amounts expressed in thousands of New Turkish Lira ( YTL ) unless otherwise indicated.

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1 CONSOLIDATED BALANCE SHEETS AT 31 DECEMBER 2007 AND 2006 ASSETS Current assets Cash and cash equivalents Marketable securities (net) Trade receivables (net) Lease receivables (net) Due from related parties (net) Other receivables (net) Biological assets (net) Inventories (net) Assets available for sales Receivables from construction contracts work in progress (net) Deferred tax assets Other current assets Non-current assets Trade receivables (net) Lease receivables (net) Due from related parties (net) Other receivables (net) Financial assets (net) Goodwill/negative goodwill (net) Investment properties (net) Property, plant and equipment (net) Intangible assets (net) Deferred tax assets Other non-current assets Total assets The consolidated financial statements prepared as at and for the year ended 31 December 2007 were approved for issue by the Board of Directors on 12 March 2008 and signed on its behalf by Güçlü Toker, Board of Directors Member and Tamer Soyupak, Assistant General Manager - Chief Finanical Officer. 1

2 CONSOLIDATED BALANCE SHEETS AT 31 DECEMBER 2007 AND 2006 LIABILITIES Current Liabilities Short-term financial liabilities (net) Current maturities of long-term financial liabilities (net) Leasing payables (net) Other financial liabilities (net) Trade payables (net) Due to related parties (net) Advances received Construction contracts acquisition value (net) Provisions Deferred tax liabilities Other liabilities (net) Non-Current Liabilities Long-term financial liabilities (net) Leasing payables (net) Other financial liabilities (net) Trade payables (net) Due to related parties (net) Advances received Provisions Deferred tax liabilities Other liabilities (net) Minority Interest Shareholders Equity Share capital Treasury shares Capital reserves Share premium Share cancellation gains - - Revaluation fund - - Financial assets fair value reserve ( ) ( ) Inflation adjustment to shareholders equity Profit Reserves 27 ( ) Legal reserves - - Statutory reserves - - Extraordinary reserves ( ) - Special reserves Investment and property sales income to be added to the capital - - Translation reserve - - Current Year Profit/(Loss) ( ) Retained Losses 28 ( ) ( ) Total Shareholders Equity and Liabilities

3 CONSOLIDATED INCOME STATEMENTS AT 31 DECEMBER 2007 AND 2006 Operating Revenue Sales (net) Cost of sales ( ) ( ) Service income (net) Other operating income (net) Gross Operating Profit Operating expenses 37 ( ) ( ) Net Operating Profit Other income and profits Other expenses and losses 38 ( ) ( ) Financial expenses 39 ( ) ( ) Income/(Loss) before monetary loss and minority interests ( ) Monetary gain/(loss) Minority interest 24 ( ) - Income/(Loss) Before Taxes ( ) Taxes on income 41 ( ) ( ) Net Income/(Loss) ( ) Earnings/(loss) per share with a nominal value of Ykr 1) 42 1,02 (2,25) 3

4 CONSOLIDATED CASH FLOWS AT 31 DECEMBER 2007 AND 2006 Income/(Loss) before minority interest and taxation ( ) Adjustments to reconcile net income/(loss) to net cash provided by operating activities: Interest expense Depreciation and amortization 19, Losses from joint ventures Increase in employment termination benefits Provision for doubtful receivables, net ( ) Income on negative goodwill 38 ( ) - Gain on sale of property, plant and equipment, net 38 ( ) (51.363) Income/(Loss) on affiliates 38 ( ) ( ) Interest income 39 ( ) (10.682) Other Operating profit/(loss) before changes in operating assets and liabilities Increase/(decrease) in trade receivables ( ) Increase/(decrease) in due from related parties ( ) Increase in inventories ( ) ( ) Increase in biological assets ( ) - Increase is available for sale assets (85.646) - Increase/(decrease) in other current assets ( ) Increase in trade payables Decrease in due to related parties ( ) ( ) Increase/(decrease) in advances received and provisions ( ) Increase/(decrease) in other liabilities ( ) Employment termination benefits paid 23 ( ) ( ) Interest paid ( ) ( ) Net cash provided/(used in) by operating activities ( ) Investing activities: Acquisition of subsidiary 32 ( ) - Purchase of property, plant and equipment and intangible assets 19, 20 ( ) ( ) Proceeds from the sale of property, plant and equipment Purchase of financial assets - ( ) Interest received Net cash used in provided by financing activities ( ) ( ) Financing activities: Increase in capital and share premiums (Decrease)/Increase in financial liabilities ( ) Decrease in finance lease payables (29.120) (33.753) Net cash (used in)/ provided by financing activities ( ) Net increase/(decrease) in cash and cash equivalents (70.087) Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The accompanying notes form an integral part of these financial statements. 4

5 CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY AT 31 DECEMBER 2007 AND 2006 Financial Inflation Retained losses assets adjustment to and net income Total Share Share fair value shareholders Extraordinary Legal and /(loss) for the shareholders capital premium reserve Equity reserves special reserves period Equity Balances at 1 January ( ) Retained losses offset ( ) Financial assets fair value decrease - - ( ) ( ) Net loss for the period ( ) ( ) Balances at 31 December ( ) ( ) Balances at 1 January ( ) ( ) Capital increase ( ) Net income for the period Balances at 31 December ( ) ( ) ( ) The accompanying notes form an integral part of these financial statements. 5

ZORLU ENERJİ ELEKTRİK ÜRETİM A.Ş. CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS AS OF 30 SEPTEMBER 2013 AND 31 DECEMBER 2012

ZORLU ENERJİ ELEKTRİK ÜRETİM A.Ş. CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS AS OF 30 SEPTEMBER 2013 AND 31 DECEMBER 2012 CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS AS OF 30 SEPTEMBER 2013 AND 31 DECEMBER 2012 Audited ASSETS Note 30.09.2013 31.12.2012 Current Assets 471,526 594,414 Cash and Cash Equivalents 5 172,119 187,379