ÇELEBİ HAVA SERVİSİ ANNUAL REPORT 2024

21 Çelebi Ground Handling 2024 Annual Report Çelebi Kargo was established in 2008 to carry out transportation, cargo storage and distribution operations. Celebi Cargo, the subsidiary of Çelebi Kargo with a 100% ownership, located in Frankfurt, Germany and which was established with a paid-in capital of EUR 11,140,000, carries out flight cargo storage and handling services at International Frankfurt Airport Cargo. The Company has a 58.70% share in KSU located in India, which was established on 2019 to provide “taxiing” services to aircraft at airports in India. A premium capital payment of Indian Rupee 435,148,420 was made by the Company. CGHI was established as a subsidiary of CASI with a shareholding rate of 60.98% in 2023, based on the ground services tender won at India’s Ahmedabad International Airport. The capital of the company is Indian Rupee 164,000. CGSC was established as a subsidiary of CASI with a shareholding rate of 100% in 2023, based on the ground services tender won at India’s Chennai International Airport. The capital of the company is Indian Rupee 280,095,195 including premium capital. The Company has acquired a 65% stake in Celebi Tanzania, a company with a capital of 100,000,000 Tanzanian Shillings (approximately USD 40 thousand) located in Dar es Salaam, Tanzania, in order to participate in ground handling concession tenders to be opened at airports in Tanzania. 99% of the shares of PTN, a company resident in Jakarta, Indonesia, were transferred for 34,650,000,000 Indonesian Rupee by signing a Share Sale and Purchase Agreement on 27 March 2024. In addition to the Company’s 99% capital of 643,500,000 Indonesian Rupee, a capital increase of 9,256,500,000 Indonesian Rupee was made on 19 April 2024, 47,520,000,000 Indonesian Rupee on 17 September 2024 and 29,700,000,000 Indonesian Rupee on 29 November 2024, thus the subsidiary share reached 87,120,000,000 Indonesian Rupee. CAI, located in Jakarta, Indonesia, was established on 2 May 2024, as a 99% subsidiary of ÇHS, with a participation of 9,900,000,000 Indonesian Rupee. On 17 September 2024, a capital increase of 8,415,000,000 Indonesian Rupee and on 29 November 2024, a capital increase of 64,845,000,000 Indonesian Rupee was made, bringing the subsidiary share to 83,160,000,000 Indonesian Rupee. CASI, a subsidiary of the Group, participated in DASPL by acquiring 16.66% stake in the company. DASPL resides in New Delhi, India, has a paid-in capital of Indian Rupee 250,000,000 and was set up to ensure execution of air conditioning units installed on passenger bridges in the airport’s passenger terminal, generator and utility water services in compliance with international standards. On 14 November 2016, CASI acquired an additional 8.33% share in DASPL, and the Group’s shareholding interest in DASPL rose to 24.99%. The Group recognizes DASPL in its consolidated financial statements by equity method. DASPL’s operations ended as of 1 April 2022, and the net loss for the period after 31 March 2022 is shown under “Profit/(loss) for the period from discontinued operations”. 9. INFORMATION ABOUT FINANCIAL STATEMENTS AND REPORTS a) Applied Accounting Standards The summary consolidated financial statements of the Group are issued in compliance with the Capital Markets Board of Turkey (CMB) Communiqué Serial: II, No: 14.1 on Principles of Financial Reporting in the Capital Markets, which is published in the Official Gazette no. 28676 and dated 13 June 2013. In accordance with Article 5 of the communiqué, the Turkish Accounting Standards/Turkish Financial Reporting Standards (TAS/TFRS) released by the Public Oversight Accounting and Auditing Standards Authority (KGK) and the related annexes and comments were taken as a basis in the publication of the consolidated financial statements. Moreover, the financial statements are presented in accordance with the formats specified in the “Announcement regarding IFRS Taxonomy” published by the KGK on 15 April 2019, and in the Illustrative Financial Statements and User Guide published by the CMB. By its decision passed on 17 March 2005, the CMB announced that publicly-held companies operating in Turkey did not need to apply inflation accounting effective 1 January 2005. The Company’s financial statements have been drawn up within the frame of this decision. When keeping their accounting records and preparing their mandatory financial statements, the Group and the Group companies located in Turkey conform to the principles and conditions set forth by KGK, as well as the Turkish Commercial Code (TCC), tax legislation, and the requirements of the Uniform Chart of Accounts issued by the Republic of Turkey Ministry of Treasury and Finance (“Ministry of Finance”).