CELEBİ 2021 ANNUAL REPORT

100 Çelebi Ground Handling Inc. 2022 Annual Report NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ AND ITS SUBSIDIARIES (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) NOTE 5 - FINANCIAL INVESTMENTS Restricted bank balances: 31 December 2022 31 December 2021 Restricted bank balances (Between 3 months and 365 days) (*) 60.756.407 49.130.668 Restricted bank balances (Longer than 365 days) (*) 47.832.174 53.479.264 108.588.581 102.609.932 Time deposits : 31 December 2022 31 December 2021 Time deposits (Between 3 months and 365 days) 57.100.350 14.078.067 57.100.350 14.078.067 Financial investments at fair value through other comprehensive income: 31 December 2022 31 December 2021 Percentage of Shares % TL Percentage of Shares % TL Celebi Ground Handing India Private Limited 61% 22.665 - - Celebi Ground Services Chennai Private Limited 100% 22.665 - - 45.330 - NOTE 6 - INVESTMENTS ACCOUNTED BY USING THE EQUITY METHOD Percentage of Shares % 31 December 2022 Percentage of Shares % 31 December 2021 DASPL 24,99 19.463.360 24,99 20.391.743 19.463.360 20.391.743 The movements of investments accounted using the equity method during the period ended on 31 December 2022 and 2021 are as follows: 31 December 2022 31 December 2021 As of 1 January 20.391.743 157.711.645 Shares of net profits for the period (6.329.698) 3.781.303 Foreign currency translation differences 9.104.507 8.746.444 Dividends received (3.680.527) (3.140.868) Transfers (*) (22.665) (146.706.781) As of 31 December 19.463.360 20.391.743 (*) In addition to the partnership agreement signed between the Company and other partners on 17 January 2021, regarding Celebi Nas, the Company’s joint venture with a 57% shares, located in Mumbai, India, with the additional protocol that was registered and entered into force on 8 February 2021, amendments were made in the “Reserve Matters/Privileged Matters” articles in favor of the Company, which would affect Çelebi Nas’s authority and power to control its financial and operating policies in line with the Company’s interests. In this framework, it has been started to be consolidated in 2021 by using the full consolidation method from the date the control passed to the Company.