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.) 81 Çelebi Ground Handling Inc. 2023 Annual Report As a result of winning the tender for the provision of airport ground handling services at Delhi International Airport for a period of 10 years, Celebi Ground Handling Delhi Private Limited (“Celebi GH Delhi”) was established in 2009. The share capital of the Company is 99.9% and a total of Indian Rupees 2,294 million premium capital payment was made in order to meet the required equity capital. The Company currently carries out ground handling services at New Delhi, Ahmedabad, Cochin, Bangalore and Hyderabad Airports in India under ongoing concession agreements. In 2018, the Company’s name was changed to Celebi Airport Services India Private Limited (“CASI”). With the authorisation granted in 2019, the Company continues to provide ground handling services at Delhi International Airport for an additional 10 years following the expiry of the current concession period. Çelebi Kargo Depolama ve Dağıtım Hizmetleri Anonim Şirketi (“Çelebi Kargo”) was established in 2008 to engage in transport, freight forwarding, cargo storage and distribution activities. Celebi Cargo GmbH (“Celebi Cargo”), a 100% owned subsidiary of Çelebi Kargo with a paid-in capital of EUR 11,140,000, is engaged in cargo storage and handling at Frankfurt International Airport Cargo. In 2019, the Company has participated in KSU Aviation Private Limited (“KSU”), an Indian company established to provide “taxiing” services to aircraft at airports in India, by 57.65%. For this purpose, the Company made a premium capital payment amounting to 435 million Indian Rupees in total. Celebi Nas Airport Services India Private Limited (“Celebi Nas”) was established in 2008 to provide ground handling services at Mumbai Chhatrapati Shivaji International Airport (CSIA) in India for a period of 10 years. The share capital is 59% and the paid-in capital is 552 million Indian Rupees. In addition, the shareholders of Celebi Nas made a premium capital payment amounting to Indian Rupees 228 million. Celebi Nas has obtained the concession right until 2036 for the provision of ventilation and generator services installed on the passenger bridges at the passenger terminal of the airport. Within the scope of the concession agreement signed between Celebi Nas and the Airport Authority, Celebi Nas will continue to provide ground handling services for a period of 10 (ten) years following the expiry of the current concession period at CSIA airport on 31 December 2019. Celebi GH India Private Limited was established as a subsidiary of CASI in 2022, with a partnership rate of 60,98%, based on the ground services tender won at India’s Ahmedabad International Airport. The capital of the company is 164,000 Indian Rupees. Celebi GS Chennai Private Limited was established in 2022 as a subsidiary of CASI with a 100% partnership rate, based on the ground services tender won at India’s Chennai International Airport, and the total capital of the company, including premium capital is 80,099,595 million Indian Rupees. In order to participate in the ground handling services concession tenders to be opened at airports in Tanzania, the Company has participated in 65% of Celebi Tanzania Aviation Services Limited (“Celebi Tanzania”), based in Dar es Salaam, Tanzania, with a total capital of 100 million Tanzanian Shillings (approximately USD 40 thousand) and started its operations in 2021 in accordance with the agreement signed with the 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 CASI, a subsidiary of the Group, has 16.66% shareholding in DASPL, a New Delhi, India based company with a paid-in capital of Indian Rupees 250,000,000, established to ensure that the ventilation, generator and domestic water services installed on the passenger bridges at the airport passenger terminal are performed at international standards. CASI owns 24.99% of Delhi Aviation Services Private Limited (DASPL). The Group accounts for DASPL using the equity method in the consolidated financial statements. The operations of DASPL have ended as of 1 April 2022 and the net loss for the period after 31 March 2022 is presented under “Profit/(loss) for the period from discontinued operations”. As of 31 December 2023, the consolidated financial statements of the Group comprise the Company, Celebi Nas, CGHH, Celebi Delhi Cargo, CASI, Çelebi Kargo, DASPL, Celebi Cargo, KSU, Celebi Tanzania, CGHI and CGSC (together referred to as the “Group”).