ÇELEBİ AR19-270720 (1)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2019 ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ Convenience Translation into English of Consolidated Financial Statements Originally Issued in Turkish (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) 113 Çelebi Ground Handling Inc. 2019 Annual Report As of December 31, 2019 and December 31, 2018, collaterals given in favour of the subsidiaries and joint venture of the Group for the loans borrowed by them are as follow: December 31, 2019 EUR INR Total TL Celebi Nas (1) - 94.392.000 7.864.741 Celebi Delhi Cargo (2) - 336.000.000 27.995.520 CASI (3) - 2.330.300.000 194.160.596 Celebi Cargo GmbH (4) 50.000 - 332.530 50.000 2.760.692.000 230.353.387 December 31, 2018 EUR INR Total TL Celebi Nas (1) - 94.392.000 7.107.718 Celebi Delhi Cargo (2) - 336.000.000 25.300.800 CASI (3) - 2.337.467.000 176.011.265 Celebi Cargo GmbH (4) 50.000 - 301.400 50.000 2.767.859.000 208.721.183 (1) Within the scope of the long-term project finance and working capital loan agreement signed between Celebi Nas and a bank resident in India amounting to INR 2.345.000.000 cash and INR 845.000.000 non-cash, 30% of the 57% shares of Celebi Nas owned by the Company has been pledged in favor of the lender bank to fulfill financial obligations arising from the agreement. As of December 31, 2018, the risk of the cash loan in the respective bank is amounting to INR 1.422.839,590. (2) Within the scope of the long-term project finance and working capital loan agreement signed between Celebi Delhi Cargo and a bank resident in India amounting to INR 1.200.000.000 cash and INR 100.000.000 non-cash, 30% of the shares of the Company has been pledged in favor of the lender bank to fulfill financial obligations arising from the agreement. As of December 31, 2019, the risk of the cash loan in the respective bank is amounting to INR 777.914.849. (3) Celebi Airport Services has a borrowing amounting to INR 1.619.300.000 cash and INR 711.000.000 non-cash within the scope of the long-term project finance and working capital loan agreement signed between The Company and a bank resident in India As of December 31, 2019, the risk of the cash loan in the respective bank is amounting to INR 928.874.915. (4) In order to fulfill the financial obligations arising from the loan agreements signed between Celebi Cargo GmbH and banks resindent in Germany, a guarantee of EUR 50.000 is given by the Company to the lender banks.