The Project sponsor is Gama Holding Anonim Sirketi (“Gama Holding” or the “Sponsor”), a private holding company active in construction, EPC contracting, healthcare concession, energy generation and trading. Gama Holding is an international company, which has completed/on-going projects in Turkey, Middle East, Russia, North Africa and Europe.

The Company is currently equally owned by General Electric Energy Financial Services (“GE EFS”) and Gama Holding Anonim Sirketi (“Gama Holding” or the “Sponsor”). The Company will be solely owned by Gama Holding after GE EFS’ exit.

The total project cost is estimated at USD 1.3bln. The proposed investment is a straight equity participation up to US$170 million by IFC in the Company.

170.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	170.0

* These investment figures are indicative

The Company is headquartered in Ankara, Turkey.

The operational assets are located in Turkey and Jordan. The exact locations of assets are provided here below.

Lamas HEPP, Mersin, Turkey
Cakirlar HEPP, Murgul, Artvin, Turkey
Birecik HEPP, Sanliurfa, Turkey
Sares WPP, Canakkale, Turkey
Karadag WPP, Aliaga, Izmir, Turkey
Gok II WPP, Akhisar, Manisa, Turkey
Disi Water, Southern Amman, Jordan

The locations of assets under construction are provided here below.

Kirikkale CCGT, Kirikkale, Turkey

The locations of pipeline projects are provided here below.

The expected Development Impact of the Project includes:

i) Equity contribution: Securing sufficient equity is a critical issue for Turkish sponsors in becoming owners/operators of infrastructure assets. IFC''s involvement in the Project would help achieve this not only directly but also facilitate a potential future equity raising by Gama Enerji / an IPO.

ii) Demonstration effect: IFC will be supporting the Government of Turkey''s (GoT) comprehensive strategy aimed at insuring the power sector''s financial viability through increased private sector investment in the sector. Through privatizations and creating a liberal market environment, the GoT is aiming to attract more private investments to the power sector.

iii) Economic impact: Given the strong link between growth and the consequent increase of power demand, Gama Enerji''s investments will contribute to the country''s infrastructure, and help meet the requirements of a growing economy as well as ensuring affordable electricity prices.

iv) Supporting the water sector in Turkey and in the near region: Only a portion of the population in the region is currently connected to adequate wastewater treatment facilities, and while a larger portion is served by public drinking networks there are still a number of people who are under-served. At the same time, much of the existing water infrastructure requires rehabilitation and new water facilities are needed to keep up with urbanization, population growth and industrial water demands. While still at early stages of private participation, Gama Enerji is well placed to engage in water sector projects in Turkey and the region.

v) Promoting south-to-south investments: Based in Turkey, Gama Enerji envisages investments not only in Turkey but also in the near region. In this regard, the Company is expected to become an investment platform through which IFC will be supporting south-south investments.

vi) Lower carbon emissions: Gama Enerji envisages continuing to invest heavily in renewable energy projects which will help reducing GHG emissions. Additionally, compared to other energy sources such as coal and lignite, natural gas power generation presents a better alternative in terms of carbon emissions.

IFC''s role / additionality is expected to be mainly through:

i) Supporting the Company''s Strategy for the Region: IFC is expected to support the Company, as it expands to become a regional water and power champion, by providing financing but also sharing sector knowledge, local presence and relationships, and experience in Turkey and the near region.

ii) Establishing a long term strategic partnership: Gama Enerji views IFC as a long term partner with aligned interests vis-a-vis the water and power sectors in Turkey and the broader region. It is also expected that this long term partnership with IFC will improve the Company''s E&S standards and corporate governance practices, giving the company added credibility with lenders and investors.

iii) IFC''s presence as a shareholder is expected to add value, helping the Company tap new investors at an initial public offering.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Organizational capacity and Management Programs(%)	Organizational capacity and Management Programs(%)		Not Available	Not Available	Not Available
Occupational Health and Safety(%)	Occupational Health and Safety(%)		Not Available	Not Available	Not Available
Affected communities protection(%)	Affected communities protection(%)		Not Available	Not Available	Not Available
Direct Employment (#) - Operations and Maintenance	Employment (#)		Not Available	Not Available	Not Available
Female Direct Employment (#) - Operations and Maintenance	Female Employment (#)		Not Available	Not Available	Not Available
Water Distribution Customers (M#)	Customers (M#)		Not Available	Not Available	Not Available

The company’s projects range from small scale wind power projects (10 MW and upwards) to the 672 MW Birecik HEP on the Euphrates River just upstream of the Syrian border (a significant international river), as well as the large 840 MW Ic Anadolu CCGT project and large Disi water conveyance project in Jordan. Accordingly, significant environmental and social issues include: river ecosystem and water supply issues relating to HEPs; groundwater harvesting by the water conveyance project; air quality issues from the CCGT projects; and resettlement relating to Birecik HEP. No sites are located on or next to Protected Areas. Given the significant potential impacts, this project is classified as Category A according to IFC’s Environmental & Social Review Procedure.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.