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.) 86 Çelebi Ground Handling Inc. 2023 Annual Report In cases where the Company does not have majority voting rights on the investee company/asset, it has control power over the investee company/asset, provided that it has sufficient voting rights to direct/manage the activities of the relevant investment. The Company considers all relevant events and circumstances in assessing whether the majority of votes in the relevant investment is sufficient to gain control, including the following: - Comparison of the voting rights of the Company with the voting rights of other shareholders; - Potential voting rights held by the Company and other shareholders; - Rights arising from other contractual agreements and - Other events and conditions that may show whether the Company has the power to manage the relevant activities (including the voting at the previous general assembly meetings) in cases where a decision has to be made. c) The direct and indirect ownership interests held by the Group in its subsidiaries are provided below, the direct and indirect ownership interest is equal to the proportion of effective interest: Subsidiary Ownership interest (%) 31 December 2023 31 December 2022 CGHH 100,0 100,0 Celebi Delhi Cargo 74,0 74,0 CASI 99,9 99,9 Celebi Nas 59,0 57,0 CGHI 61,0 61,0 CGSC 100,0 100,0 Çelebi Kargo 99,9 99,9 Celebi Cargo 99,9 99,9 KSU 58,7 58,7 Celebi Tanzania 65,0 65,0 d) The Group categorized the sales and purchase of its subsidiaries’ shares transactions as transactions between group shareholders except parent company. Therefore, for the addition share purchase from other than parent company, the Group records the difference between cost of purchase and book value of asset of subsidiary’s purchased portion under shareholders’ equity. For the share sales to other than parent company, the Group records the income or loss as a result of the difference between sales price and book value of asset of subsidiary’s sold portion under shareholders’ equity. e) It is accounted by using the equity method. Associate (%) 31 December 2023 31 December 2022 DASPL 24,99 24,99 2.2. Change in Accounting Policies 2.2.1 Comparative Information and Restatement of Prior Period Financial Statements The financial statements of the Group have been prepared comparatively with the prior period in order to evaluate financial position and performance trends. Comparative figures are reclassified, where necessary, to conform to the changes in the presentation of the current period consolidated financial statements. The Group has prepared the consolidated statement of financial position as at 31 December 2023 comparatively with the consolidated statement of financial position as at 31 December 2022 and the consolidated statement of profit or loss, statement of other comprehensive income, statement of cash flows and statement of changes in equity for the interim period ended 31 December 2023 comparatively with the consolidated statement of profit or loss, consolidated statement of cash flows, consolidated statement of changes in equity and consolidated statement of other comprehensive income for the year ended 31 December 2022.