SUSTAINABILITY

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Galata Wind currently has 50+ employees of which 25% are women. This percentage rises to 52% when power plant locations are excluded. In the headquarters of Galata Wind, the proportion of women in managerial positions is 24%. It is clear that Galata Wind’s employment policies and practices encourage women to raise, without any double standards, in their careers and participate in the decision-making as underlined in target 5.5 of UN SDGs stating “Ensure women’s full and effective participation and equal opportunities for leadership at all levels of decision-making in political, economic and public life via increasing proportion of women in managerial positions”

Galata Wind has committed during its IPO process to increase the proportion of women in managerial positions above 30% in 2 years and to have at least 1 woman member in its Board, of which the latter has already been fullfiled. Galata Wind is fully tied to its committments on prioritizing women empowerment in the industry.

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Galata Wind, with a total installed capacity of 269 MW, generates electricity from pure renewable energy to provide clean, modern and sustainable energy services to society, and is committed to expanding its portfolio exclusively with renewable technologies. In addition, the company closely follows technological developments and integrates them into its systems.

In 2021, Galata Wind generated 744,476 MWh of clean electricity, 100% of which came from renewable sources.

Galata Wind will continue its investments to generate accessible and clean energy through the new investments it plans to make. Galata Wind will contribute to the renewable energy generation sector by expanding its existing investments and deploying more innovative processes. The Taşpınar WPP project, which was commissioned at full capacity in March 2021, features state-of-the-art equipment and consists of the first turbine set manufactured in Turkey with a blade length of 75 meters. A hybrid solar power plant is also planned as part of the Taşpınar WPP project and construction work has already begun. The aim is to take a leading role in the industry in this respect.

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Galata Wind’s employment policy is in line with the target 8.5 of UN SDG that underlines "Decreasing unemployment rate by sex, age, persons with disabilites via achieving full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value". All power plants of Galata Wind currently have technical operators, engineers and/or blue collars who are from close-by villages. Galata Wind values fresh graduates and specifically employes them within its Intern&Trainee Program where they start to work within the company even before they graduate. Taşpınar WPP currently employs a woman electrical engineer who has worked in the construction site of the windfarm during her internship time in the final year of her academia and started working as a site engineer at the same windfarm right after graduation. In 2022, 2 young graduate engineers, 1 male and 1 female, have been recruited in the headquarters.

Galata Wind shall always look for local people from close by villages to employ in its power plants. This is a priority for the company. Moreover, the company plans to enlarge its Intern&Trainee Program into a larger collaboration with regional universities via establishing career days and informative panels so that local and young graduates, engineers, technicians can be employed in its power plants. Galata Wind believes that the energy sector in Turkey needs more young women graduates of engineering to show their talents in the field. Therefore, Galata Wind will continue its efforts to employ women for qualified positions whenever possible.

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Galata Wind's business model contributes to achieving Goal 9.4 of UN SDG, which states, "By 2030, upgrade infrastructure and retrofit industries to make them sustainable with increased resource- use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes, with all countries taking action in accordance with their respective capabilities." Galata Wind, which generates renewable energy using clean and environmentally friendly technologies, is also recognized as Turkey's first Green Public Offering.

Galata Wind aims to double its current installed capacity by the end of 2025. In this context, the company believes that it benefits from sustainable financing opportunities, in line with its sustainability strategy, and is a key player in the goal of investing the funding provided in renewable energy technologies. (Target for 2025: 500 MW Installed Capacity )

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Galata Wind publicly discloses it’s Remuneration Policy on its website where it is clearly stated that the company has adopted the principle of “equal pay for equal jobs”; therefore acts entirely in parallel to target 10.4 of the UN SDGs that imposes to" Adopt policies, especially fiscal, wage and social protection policies, and progressively achieve greater equality "

Galata Wind shall never compromise on the principle of "equal pay for equal jobs" and will continue to take into account market tendencies as well as performance assessment criterion when making decisions on employee wages and fringe benefits.

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Galata Wind generates renewable energy to "achieve sustainable management and efficient use of natural resources by 2030," as stated in Goal 12.2 of the SDGs UN. Galata Wind started its operations with 126 MW wind turbines in Bandırma and Mersin in 2012. By the end of 2021, the company has a total installed capacity of 269 MW wind and solar power plants, which are 100% renewable and clean. The total annual power generation capacity of these plants is approximately 800 GWh. We also contribute to the sustainable development of our country with our Gold Standard and VCS-certified plants and power generation activities, which prevent the emission of about 400,000 tons of carbon per year.

In addition, in accordance with Goal 12.6, Galata Wind has begun publishing its Sustainability Report, which covers the company's sustainability performance in 2022. In this context, a Sustainability Committee affiliated with the Board of Directors was established and announced to the public. Under the leadership of the Sustainability Working Group, all employees at the headquarters and power plants conducted a key stakeholder study in accordance with the AA1000SES standard. The materiality study, conducted in accordance with the materiality principle, will also be conducted in accordance with the AA1000SES standard, and the sustainability report in accordance with the AA1000AP principles and the GRI standard will be made available to the public in the first quarter of 2023. In this context, the historical information is available in the company's annual report and on the website.

Eliminating harmful subsidies that impact the environment is included in Goal 12.c of UN SDGs. Galata Wind, whose founding goal is fully renewable energy generation, is committed to never generating energy from fossil fuels.

In this direction, Galata Wind aims to expand its portfolio to 500-500 MW renewable capacity by 2025 through extensions and/or hybridization of its existing power plants, acquisitions of domestic operating WPPs and SPPs, project development, application for (pre-) licenses, and investment in small and medium power plant projects abroad. The company's ultimate goal is to create climate and green conscious, clean, sustainable and predictable profit margins and cash flows for its investors by investing in domestic and overseas renewable energy projects and power plants with feed-in tariff guarantees and long-term bilateral agreements.

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Galata Wind sustains its activities in line with Goal 13.3 of UN SDG: "Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning". Reducing fossil fuel energy generation by 2030 is among the most important climate change goals. Galata Wind attaches importance to contributing to climate change mitigation not only within its scope of activities, but also in all its processes, integrating the Environmental Management System ISO 14001 and the Energy Management System ISO 50001 in the life cycle of its operations at every stage. The company has started strategic work on sustainability management with a view to publishing its first sustainability report in the first quarter of 2023, in accordance with international standards, the AA1000AP principles and the KPIs recommended by SASB (Sustainability Accounting Standards Board).

Galata Wind's field of activity is energy generation from renewable energy sources, which has a direct positive impact on climate change. For this reason, all investments in this field will also have a positive impact on climate change by contributing to the sustainable development of our country, raising awareness of climate change and increasing the share of renewable energy generation.

As part of the company's growth strategy, Galata Wind intends to focus on fulfilling the commitments made in the IPO. Capacity extensions and opportunities for new investments are among Galata Wind's focus areas over the next 3-5 years. With this projection, Galata Wind aims to nearly double its installed capacity and reach 500-550 MW.

The company's motivation for 2022 is to grow organically by firstly experiencing a full year of power generation in Taşpınar WPP, the effects of which were not visible until after the first quarter of 2021. Secondly, within Taşpınar WPP, Galata Wind continues its project development processes to add a hybrid solar farm with a capacity of 42.58 MW.

In 2023, the company plans to focus on capacity extension projects at its existing power plants. These extensions are a rapid addition to both the national economy and the company's vision for growth due to the infrastructure already in place. An expansion of 13 MW has already been completed for Taşpınar WPP. Work is underway for possible additional capacity at the Şah and Mersin WPPs.

In addition to investing in its own power plants, Galata Wind is closely monitoring acquisition opportunities in Turkey and abroad. Recently, the company acquired the license of the Alapınar WPP with a capacity of 15 MW. In addition, the company is particularly interested in power plants that have been included in the FX-based FIT mechanism (YEKDEM) in Turkey in the last 1-2 years. In terms of opportunities abroad, Southern Europe, the Balkans and Eastern Europe are areas of interest where construction-ready projects with long-term electricity contracts (PPAs) or greenfield wind and solar projects are possible according to country policies. The current focus is on Italy. In the long term, the company also aims to realize a project in the USA

In Turkey, new YEKA tenders for wind and solar plants are continuously being carried out. In addition, new tendering models and legislation are expected to be announced in the near future. Galata Wind will participate in all these opportunities as far as they are in line with the company's investment perspective and in the best interest of its stakeholders.

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Galata Wind is a member of several associations that play important roles in the sector in which it operates. Through these associations, the company expresses its opinion on changes and improvements in the sector and can even become a pioneer. It also has the opportunity to share knowledge and experience by meeting with other sector representatives and stakeholders on a common platform. With its memberships to TÜREB, EÜD, GÜYAD, GÜNDER, ETD, DEK etc., the company also follows the developments first hand in the field of wind and solar both in Turkey and in the world. Galata Wind is also a UNGC member and signatory. With its TKYD and TUYID memberships, it aims to take its commitment to corporate governance principles and its relations with investors to higher levels.

Galata Wind prioritizes its collaborations in order to benefit its stakeholders. In partnership with universities such as Sabancı and Bahçeşehir, the company offers education and training programs for its employees in order to contribute to their personal and professional development. Through, Aydın Doğan Foundation, Galata Wind supports the education of female students in particular. Galata Wind works in close contact with the Ministries in order to comply with all regulations in the regions where its power plants operate. Particularly, it carries out studies on climate change by participating in the Working Groups established by the Ministry of Environment and gives its opinion on the climate law. Most recently, Yuvam Dünya Association organized a joint panel with Galata Wind to draw attention to Climate Justice at COP27, bringing the business world, academia and civil society together.

Galata Wind will continue to be a part of the leading associations in the sector. Because the goal of the company is to closely follow all the developments in the sector and moreover, to contribute.

The company is working to further increase the number of its collaborations. It wants to cooperate on all possible platforms in order to emphasize the importance of renewable energy in the fight against climate change. The company has the goal of continuing its relationship and cooperation with government institutions by spreading it to a wider base. Galata Wind adopts the vision of “Encourage and promote effective public, public-private and civil society partnerships, building on the experience and resourcing strategies of partnerships” in line with UN SDG 17.17 target.