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.) 83 Çelebi Ground Handling Inc. 2019 Annual Report The segment information provided to the board of directors as of December 31, 2019 is as follows: Operation Groups January 1 - December 31, 2019 Ground Handling Services Cargo and Warehouse Services Consolidation Adjustments Consolidated Revenue 1.181.189.385 705.678.781 (8.982.548) 1.877.885.618 Cost of sales (814.370.902) (528.415.950) 8.173.928 (1.334.612.924) Gross profit 366.818.483 177.262.831 (808.620) 543.272.694 General administrative expenses (181.812.399) (49.377.167) 1.632.942 (229.556.624) Addition: Depreciation and amortization 86.646.470 40.791.998 - 127.438.468 Addition: Effect of TFRIC 12 - 8.177.586 - 8.177.586 Addition: Retirement pay liability and unused vacation provisions 21.073.213 3.339.417 - 24.412.630 Effect to investments accounted byusing equity method on EBITDA 50.410.249 (1.764.529) - 48.645.720 EBITDA 343.136.016 178.430.136 824.322 522.390.474 Rent Expenses under UFRS 16 (59.619.089) (14.247.081) - (73.866.170) EBITDA (Except for the impact of new and revised accounting policies) 283.516.927 164.183.055 824.322 448.524.304 The segment information provided to the board of directors as of December 31, 2018 is as follows: Operation Groups January 1 - December 31, 2018 Ground Handling Services Cargo and Warehouse Services Consolidation Adjustments Consolidated Revenue 911.029.883 578.293.704 (6.313.099) 1.483.010.488 Cost of sales (597.985.445) (433.427.264) 5.503.153 (1.025.909.556) Gross profit 313.044.438 144.866.440 (809.946) 457.100.932 General administrative expenses (141.268.207) (47.355.162) 1.878.114 (186.745.255) Addition: Depreciation and amortization 46.335.799 20.626.145 - 66.961.944 Addition: Operating lease equalization (79.786) 10.349.500 - 10.269.714 Addition: Effect of TFRIC 4-12 - 6.446.852 - 6.446.852 Addition: Prepaid allocation cost expense 1.155.072 - - 1.155.072 Addition: Retirement pay liability and unused vacation provisions 8.769.077 2.991.560 - 11.760.637 Effect to investments accounted byusing equity method on EBITDA 45.810.673 (755.207) - 45.055.466 EBITDA 273.767.066 137.170.128 1.068.168 412.005.362