CELEBİ 2021 ANNUAL REPORT

132 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.) The net debt/(equity+net debt) ratio as of 31 December 2022 and 2021 is as follows: 31 December 2022 31 December 2021 Total financial liabilities (*) 3.009.391.091 2.740.676.806 Less: Cash and cash equivalents (1.927.530.563) (1.093.574.832) Less: Time deposits (57.100.350) (14.078.067) Less: Restricted bank balances (108.588.581) (102.609.932) Net debt 916.171.597 1.530.025.975 Net debt (Except for the impact of TFRS 16) (902.604.790) 267.817.972 Shareholder’s equity 3.251.906.331 1.669.845.086 Capital invested 4.168.077.928 3.199.871.061 Net debt/capital invested 0,22 0,48 (*) As of 31 December 2022, TL (1.818.776.387) of the net debt consists of the lease amounts discounted in accordance with TFRS 16 effective as of 1 January 2019 (31 December 2021: TL 1.262.208.003). NOTE 33 - FEES FOR SERVICES RECEIVED FROM INDEPENDENT AUDIT FIRM The fees for the services received by the Company from the Independent Audit Firm (IAF) in the periods of 1 January - 31 December 2022 and 1 January - 31 December 2021 are as follows: 2022 2021 IAF Other IAF Total IAF Other IAF Total Independent audit fee for the reporting period 4.780.002 - 4.780.002 3.396.715 - 3.396.715 Fees for tax advisory services 1.122.763 - 1.122.763 701.846 - 701.846 Fee for other assurance services 348.231 - 348.231 125.616 - 125.616 Fees for services other than independent audit 347.910 - 347.910 265.853 - 265.853 6.598.906 - 6.598.906 4.490.030 - 4.490.030 NOTE 34 - EVENTS AFTER THE BALANCE SHEET DATE Due to the earthquake in Kahramanmaraş on 6 February 2023 that affected several cities, especially Adana, Adıyaman, Diyarbakır, Elazığ, Gaziantep, Hatay, Kahramanmaraş, Kilis, Malatya, Osmaniye and Şanlıurfa, a state of emergency was declared in the affected provinces for three months and a state of force majeure until 31 July. The Company operates ground handling services in Kahramanmaraş, Hatay, Malatya, Diyarbakır and Adana, which are the provinces directly affected by the earthquake. The Company has taken all necessary precautions and continues to provide ground handling services, including all relief flights to and from the said airports, by transferring additional personnel and equipment from other cities. Damage assessments in the aforementioned provinces have been completed and it has been determined that the effect of the earthquake on the machinery equipment, special costs and fixtures of the Company is limited and its effect on the financial reports is insignificant. The Law numbered 7438 on Social Security and General Health Insurance and the Law on the Amendment of the Decree Law numbered 375, which includes the regulation on the Retirement Age Victims (EYT), entered into force after being published in the Official Gazette No. 32121, dated 3 March 2023. Although this issue is considered as a non-adjusting event after the reporting period within the scope of TAS 10 Events After the Reporting Period, studies on measuring the impact on the operations and financial position of the Group are still in progress.