CELEBI GROUND HANDLING 2023 ANNUAL REPORT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ AND ITS SUBSIDIARIES (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) 100 Çelebi Ground Handling Inc. 2023 Annual Report The reconciliation of EBITDA with operating profit before tax is as follows: 1 January - 31 December 2023 1 January - 31 December 2022 EBITDA for reported segments 3.435.354.099 2.011.490.969 Depreciation and amortization (626.898.399) (366.282.358) TFRIC 12 effect (50.001.923) (19.915.728) Provisions for employment termination benefit and unused vacation (105.815.315) (43.509.838) Other operating income 445.146.670 137.751.907 Other operating expenses (-) (336.655.040) (141.843.768) EBITDA effect of investments accounted by using equity method 137.653 (2.688.691) Operating profit 2.761.267.745 1.575.002.493 Income from investment activities 30.269.535 813.475 Expenses from investment activities (-) (7.525.997) (27.867.600) Financial income 406.313.592 200.039.323 Financial expenses (-) (469.559.974) (284.931.130) Shares in profit from investments accounted by equity method (from continuing operations) - (1.910.106) Profit/(loss) before tax 2.720.764.901 1.461.146.455 NOTE 4 - CASH AND CASH EQUIVALENTS 31 December 2023 31 December 2022 Cash 2.431.556 1.735.686 Banks 3.374.732.690 1.927.228.079 - time deposit 2.347.727.034 1.255.465.152 - demand deposit 1.027.005.656 671.762.927 3.377.164.246 1.928.963.765 As of 31 December 2023, effective interest rates on TL, EUR, USD and INR denominated time deposits are 33,00-41,00%, 0,1- 1,75%, 01-2,25% and 75-7,25% (31 December 2022: TL 15,21%, EUR 1,46%, USD 1,33%, INR 5,38%). As of 31 December 2023, the maturity of denominated time deposits are 1 day for EUR, USD and TL, 30-365 days for INR, respectively (31 December 2022: TL, EUR and USD 1 day, INR 45 days). The details of cash and cash equivalents presented in the statements of cash flows as of 31 December 2023 and 2022 are as follows: 31 December 2023 31 December 2022 Cash on hand and cash at banks 3.377.164.246 1.928.963.765 Less: Interest accruals (3.264.420) (1.433.202) 3.373.899.826 1.927.530.563