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Participation Portfolio

Subsidiaries Ownership Interest Principal Activity
Anadoluhisarı Tankercilik A.Ş. 100% Shipping
Kandilli Tankercilik A.Ş. 100% Shipping
Kuleli Tankercilik A.Ş. 100% Shipping
Kuzguncuk Tankercilik A.Ş. 100% Shipping
Bebek Shipping S.A. 100% Shipping
Bal Kaynak Su İthalat İhracat Sanayi ve Ticaret A.Ş* 100% Water Distribution
Akpa Dayanıklı Tüketim LPG ve Akaryakıt Ürünleri Pazarlama A.Ş. 100% Marketing
Aygaz Doğal Gaz Toptan Satış A.Ş. 100% Natural Gas
Aygaz Doğal Gaz İletim A.Ş. 100% Natural Gas
Associates Ownership
Interest		 Principal Activity
Kolay Gelsin Dağıtım Hizmetleri A.Ş.** 27.50% Cargo Transport/Distribution
Enerji Yatırımları A.Ş.*** 20% Energy
Joint Ventures Ownership
Interest		 Principal Activity
Opet Aygaz Gayrimenkul A.Ş. 50% Real Estate
United Aygaz LPG Ltd. 50% LPG Supply, Filling and Distrinbution