CELEBİ 2021 ANNUAL REPORT

81 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.) of Çelebi Ground Handling Delhi Private Limited (“Celebi GH Delhi”), which was established on 18 November 2009 with a shareholding rate of 99,9%. The Company currently operates ground handling services in New Delhi, Ahmedabad, Cochin, Bangalore and Hyderabad Airports in India as part of the ongoing concession agreements. On 15 March 2018, the Company’s title was changed to Celebi Airport Services India Private Limited (“CASI”). CASI will continue to deliver ground handling services at Delhi International Airport for 10 years subsequent to the termination of the existing concession agreement with the authority given on 9 December 2019. Çelebi Kargo Depolama ve Dağıtım Hizmetleri A.Ş. (“Çelebi Kargo”) was established on 20 November 2008 to carry out transportation, cargo storage and distribution activities. Celebi Cargo GmbH (“Celebi Cargo”), the subsidiary of Çelebi Kargo with a 100% ownership, was established on November 2009 and has share capital amounting to EUR 11.140.000, rented storage and warehouse facilities at International Frankfurt Airport Cargo (Frankfurt Cargo City Süd) and carry out flight cargo storage and handling services. The Company has a 58,70% share in KSU Aviation Private Limited (“KSU”) located in India, which was established on 8 May 2019 to provide “taxiing” services to aircraft at airports in India. For this purpose, a premium capital payment of Indian Rupee 450.675.770 was made by the Company. Celebi Nas Airport Services India Private Limited (“Celebi Nas”) was established on 12 December 2008 to provide ground handling services for 10 years at Mumbai Chhatrapati Shivaji International Airport (CSIA) in India. The Company has 57% shareholding where the share capital of Çelebi Nas is Indian Rupee 552.000.000. In addition, a premium capital increase of Indian Rupee 228.000.000 has been paid by the shareholders of Celebi Nas. Celebi Nas has obtained a concession right until May 2036 for the provision of ventilation and generator services installed on the passenger bridges at the airport passenger terminal. Within the scope of the concession agreement signed between Celebi Nas and MIAL, Celebi Nas will continue to provide ground handling services for an additional 10 (ten) years from 1 January 2020 to 31 December 2029, following the expiration of the current concession period at CSIA airport on 31 December 2019. In order to participate in ground handling concession tenders to be opened at airports in Tanzania, the Company has a 65% stake in Celebi Tanzania Aviation Services Limited (“Celebi Tanzania”), located in Dar es Salaam, Tanzania, with a total capital of 100 million Tanzania Shillings (approximately 40 thousand USD). The Company has already started its activities as of 1 February 2021, in line with the contract signed with the Tanzania Airport authority. - Associate The associate of the Group accounted using the equity method is as follows: Associate Registered country Geographical region Nature of business DASPL India India Ground handling services Çelebi GH Delhi, a subsidiary of the Group, has participated in establishment of Delhi Aviation Services Private Limited (“DASPL”) with a shareholding of 16,66%, DASPL is resident in New Delhi, India and operating in rendering services of air conditioners, water providing systems and generators mounted on passenger boarding bridges with international standards established with a share capital is Indian Rupee 250.000.000. On 14 November 2016, Çelebi GH Delhi, has acquired 8,33% of additional shares of DASPL and reached to a shareholding rate of 24,99%. The Group accounts DASPL by using the equity method in its consolidated financial statements. DASPL’s operations ended as of 1 April 2022, and the net loss for the period after 31 March 2022 is shown under “Profit/(loss) for the period/from discontinued operations”. As of 31 December 2022, the consolidated financial statements of the Group contains the Company, Celebi Nas, CGHH, Celebi Delhi Cargo, CASI, Çelebi Kargo, DASPL, Celebi Cargo and KSU and Celebi Tanzania (all together will be referred to as “the Group”). Approval of Consolidated Financial Statements The consolidated financial statements for the period 1 January - 31 December 2022 has been approved for the issuance by the Board of Directors on 7 March 2023, and signed by Osman Yılmaz, the General Manager, and Deniz Bal, the Director of Financial Affairs, on behalf of Board of Directors.