ÇELEBİ HAVA SERVİSİ ANNUAL REPORT 2024

ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ VE BAĞLI ORTAKLIKLARI 103 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) Çelebi Ground Handling 2024 Annual Report The following notes provide information regarding significant decisions related to accounting policies that have the most impact on the amounts recorded in the consolidated financial statements: Note 2.5 (f) - Application of profit margins to construction costs under TFRS Interpretation 12 “Service Concession Agreements” The following notes provide information regarding estimates that have a significant impact on the amounts recorded in the consolidated financial statements: Not 11 - Property, Plant, and Equipment Not 12 - Right-of-use Assets Not 13 - Intangible Assets Not 14 - Provisions for Employee Benefits Not 29 - Tax Assets and Liabilities Not 31 - Related Party Disclosures 3. Segment reporting Management has determined the operating segments based on the reports reviewed by the Company’s senior management and effective in making strategic decisions. The management evaluates the Group from two perspectives; based on geographical position and operational segments. They are assessing the Group’s performance on an operational segment basis as, Ground Handling Services, Security Services, Cargo and Warehouse Services. Since the Group’s income consists primarily of these operational segments, Ground Handling Services and Cargo and Warehouse Services are regarded as reportable operating segment revenues. The management assesses the performance of the operational segments based on a measure of EBITDA after deduction of the impact of TFRS Interpretation (“TFRIC 12”), retirement pay liability and unused vacation provisions from earnings before interest, tax depreciation and amortization. The operational segment information provided to the board of directors as of 31 December 2024 is as follows: Operation Groups Ground Cargo and Warehouse Consolidation After 1 January - 31 December 2024 Handling Services Adjustments Consolidation Revenue 12.853.292.450 6.424.675.221 (99.961.259) 19.178.006.412 Cost of sales (9.211.202.447) (4.069.395.047) 104.000.079 (13.176.597.415) Gross profit 3.642.090.003 2.355.280.174 4.038.820 6.001.408.997 General administrative expenses (1.315.635.604) (392.832.233) 23.469.574 (1.684.998.263) Addition: Depreciation and amortization 632.547.913 313.947.127 - 946.495.040 Addition: TFRIC -12 effect shares - 89.234.959 - 89.234.959 Addition: Provision for employment termination benefit and unused vacation 181.591.778 22.850.469 - 204.442.247 Addition: Income from derivative transactions 35.023.409 - - 35.023.409 EBITDA effect of investments accounted by using equity method (5.155.276) (5.155.276) EBITDA 3.170.462.223 2.388.480.496 27.508.394 5.586.451.113 Lease expenses under TFRS 16 (341.374.300) (100.617.340) - (441.991.640) EBITDA (Except for TFRS 16) 2.829.087.923 2.287.863.156 27.508.394 5.144.459.473