CELEBİ 2021 ANNUAL REPORT

ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ AND ITS SUBSIDIARIES 78 Çelebi Ground Handling Inc. 2022 Annual Report Current Period Prior Period Audited Audited 1 January - 1 January - Notes 31 December 2022 31 December 2021 A. Cash flows from operating activities 1.702.571.564 627.218.008 Net profit/loss for the period 1.153.990.161 564.923.397 Adjustments for reconciliation of net profit/loss for the period 855.529.087 232.799.893 Adjustments related to depreciation and amortization expenses 11,12,13 366.282.358 206.052.038 Adjustments related to impairment (reversal) 8 2.377.758 10.510.962 Adjustments related to provisions 44.441.575 29.559.459 - Adjustments related to provisions for employee benefits 44.441.575 29.559.459 Adjustments related to interest income and expenses 7, 27, 28 142.263.490 102.433.593 - Adjustments related to interest income 27 (63.492.929) (30.069.307) - Adjustments related to interest expenses 205.756.419 132.502.900 Adjustments related to unrealized foreign currency translation differences (8.514.760) (93.588.104) Adjustments related to tax (income) expenses 29 302.736.702 65.112.502 Adjustments related to undistributed profit of investments that are accounted by the equity method 6 6.329.697 (3.781.303) Adjustments related to gains/losses on disposal of non-current assets (387.733) (10.518.438) Adjustments related to Losses (Gains) Due to Disposal of Associates, Joint Ventures and Financial Investments or Changes in Shares 25 - (72.980.816) Changes in working capital (105.334.191) (103.509.462) Adjustments related to increase/decrease in trade receivables (195.023.219) (216.025.989) -Decrease/increase in trade receivables from related parties (1.092.294) 4.829.416 -Decrease/increase in trade receivables from third parties (193.930.925) (220.855.405) Adjustments related to decrease/increase in other receivables related to operations (275.527.986) (252.991.187) Adjustments related to increase/decrease in inventories (23.847.018) (17.033.804) Decrease/increase in prepaid expenses (104.450.489) (27.080.548) Adjustments related to increase/decrease in trade payables 152.334.062 161.383.523 -Increase/decrease in trade payables to related parties (8.488.197) 965.787 -Increase/decrease in trade payables to third parties 160.822.259 160.417.736 Decrease/increase in payables related to employee benefits 114.343.662 52.939.409 Adjustments related to increase/decrease in other payables related to operations 226.836.797 195.299.134 Cash flows generated from operations 1.904.185.057 694.213.828 Payments related to provisions for employee benefits (21.068.988) (23.611.829) Payments related to other provisions (3.903.715) (1.818.923) Tax returns (payments) (176.640.790) (41.565.068) The accompanying notes form an integral part of these consolidated financial statements. CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD 1 JANUARY - 31 DECEMBER 2022 (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.)