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.) 118 Çelebi Ground Handling Inc. 2023 Annual Report Long-term deferred income 31 December 2023 31 December 2022 Deferred income 7.624.111 15.269.112 7.624.111 15.269.112 NOTE 18 - PAYABLES RELATED TO EMPLOYEE BENEFITS 31 December 2023 31 December 2022 Bonus payable accruals 210.156.270 82.627.848 Wages and salaries payable 176.315.602 90.538.189 Social security premiums payable 123.196.074 46.468.848 509.667.946 219.634.885 NOTE 19 - EQUITY Share Capital As of 31 December 2023, the authorized share capital of the Group is TL 24.300.000 comprising of TL 2.430.000.000 registered shares with a face value each of 1 Kr (31 December 2022: 2.430.000.000). At 31 December 2023 and 2022, the shareholding structure of the Group is stated in historical amounts below: 31 December 2023 31 December 2022 Shareholders Amount Share % Amount Share % Çelebi Havacılık Holding A.Ş. (ÇHH) 21.848.528 89,91 21.848.528 89,91 Other 2.451.472 10,09 2.451.472 10,09 24.300.000 100,00 24.300.000 100,00 Restricted reserves appropriated from profit (legal reserves) The legal reserves consist of first and second reserves, appropriated in accordance with the Turkish Commercial Code. The Turkish Commercial Code stipulates that the first legal reserve is appropriated out of statutory profits at the rate of 5% per annum, until the total reserve reaches 20% of the Company’s paid-in capital. The second legal reserve is appropriated at the rate of 10% per annum of all cash distributions in excess of 5% of the paid-in capital. Under the Turkish Commercial Code, the legal reserves can be used only to offset losses and are not available for any other usage unless they exceed 50% of paid-in capital. As of 31 December 2023, the amount of restricted reserves is TL 195.490.565 (31 December 2022: TL 91.996.776). Listed companies distribute dividend in accordance with the Communique No. II-19.1 issued by the CMB which is effective from 1 February 2014. Companies distribute dividends in accordance with their dividend payment policies settled and dividend payment decision taken in general assembly and also in conformity with relevant legislations. The communique does not constitute a minimum dividend rate. Companies distribute dividend in accordance with the method defined in their dividend policy or articles of incorporation. In addition, dividend can be distributed by fixed or variable instalments and advance dividend can be paid in accordance with profit on interim financial statement of the Company. Remeasurement losses on defined benefit plans Consists of actuarial gains and losses recognized as other comprehensive income as a result of the adoption of TAS 19.