ÇELEBİ HAVA SERVİSİ ANNUAL REPORT 2024

20 Çelebi Ground Handling 2024 Annual Report The Group’s consolidated gross profit in January-December 2024 period was up by 63.7% to TL 6,001,408,997 (2023: TL 3,667,187,574). In January-December 2024 period, the Company posted an operating profit of TL 4,259,163,978 (2023: TL 2,761,267,745). The Group’s profit after tax in the same period was recorded as TL 3,566,410,436 (2023 January-December: TL 1,667,723,088). As of 31 December 2024, the total amount set aside for legal and compensation provisions of our Company was TL 40,505,412 (31 December 2023: TL 35,830,909). There was no legal action or demands for compensation against the Company during the period which would significantly affect the Company’s financial status or activities. 7. DEVELOPMENTS IN INVESTMENTS; INVESTMENT INCENTIVES USED Tangible fixed asset investments realized by the Group during the year ended on 31 December 2024 amounted to TL 1,308,076,131 (31 December 2023: TL 554,914,556). 27.8% of these investments consisted of investments in machinery, equipment and appliances, 56.5% of investments in progress, 8.6% in special costs, 4.3% in investments in fixtures and 2.8% in investments in vehicles. Total consolidated investment outlays of the Group in tangible and intangible assets as of 31 December 2024 were worth TL 1,398,869,607. (2023: TL 691,631,564). The total incentive investment amount as of 31 December 2024, excluding additional costs, is TL 815,774,403.62. The current classification according to incentive certificate type is as follows: · Our Company holds the Large Scale Investments incentive certificate obtained from the Ministry of the Economy, the General Directorate of Incentive Implementation and Foreign Investment. The total amount of investment undertaken by our Company under this incentive certificate until 31 December 2024 stood at TL 247,905,531.02. · Regarding the machinery and equipment investments planned by our Company for the airports in Turkey, our applications for incentive certificates, totaling TL 1,698,026,010.87, have been approved by TR Ministry of Industry and Technology General Directorate of Incentive Implementation and Foreign Capital. Investment Incentive Certificates have been issued in order to enable our Company to benefit from investment incentive practices as per the relevant legislation provisions. The total expenditure made until 31 December 2024 within the scope of the incentive certificates in question is TL 567,868,872.60. 8. DIRECT OR INDIRECT ASSOCIATES OF THE COMPANY AND INFORMATION ON SHAREHOLDING THEREIN In 2006, the Company has acquired the shares of Celebi Ground Handling Hungary (“CGHH”), which has been providing ground handling service at Budapest Airport. The paid in capital of CGHH is HUF 200,000,000, while the Company holds 100% of the shares. In 2008, Celebi NAS has been incorporated at the Mumbai Chhatrapati Shivaji International Airport (“CSIA”) in India, in order to provide ground handling services for a period of 10 years. The paid-in capital of Celebi NAS is INR 552,000,000 in which the Company controls 59% stake. Besides, INR 228,000,000 has been paid as advance capital by the shareholders in Celebi NAS. Celebi NAS has been granted the concession rights concerning the rendering of services regarding air conditioners and generators mounted on passenger boarding bridges in the passenger terminal of that airport until 2036. As per the concession contract signed between Celebi NAS and the airport authority, Celebi NAS is continuing to provide ground handling services for a period of 10 (ten) years following the expiry of the current concession period on 31 December 2019 at the CSIA airport. In 2009, a company titled Celebi Delhi Cargo was established at the airport in New Delhi, India, which will be engaged in the development and modernization of the existing cargo terminal and operating it for a period of 25 years. The paid-in capital of Celebi Delhi Cargo in which the Company controls a 74% share as a founding partner is INR 1,120,000,000. Winning the tender for providing airport ground handling services at Delhi International Airport for a 10-year term, Celebi Ground Handling Delhi Private Limited was established on 2009. Having a shareholding rate of 99.9%, the Company has made premium capital payment amounting to Indian Rupee 2,293,943,760 to meet the required equity capital. Under the ongoing concession agreements, the Company carries on with ground handling services at New Delhi, Ahmedabad, Cochin, Bangalore and Hyderabad airports. On 2018, the company’s name was changed as Celebi Airport Services India Private Limited (“CASI”). Based on the authorization granted in 2019, CASI will continue to provide ground handling services for another 10 years following the expiration of the existing concession period at the Delhi International Airport. BOARD OF DIRECTORS 2024 ANNUAL REPORT