ÇELEBİ HAVA SERVİSİ ANNUAL REPORT 2024

ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ VE BAĞLI ORTAKLIKLARI 86 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 As of 31 December 2024, the Group’s consolidated financial statements encompass the Company, Delhi Cargo, Celebi Nas, CASI, CGHI, CGSC, KSU, DASPL, Çelebi Kargo, Celebi Cargo, CGHH, Celebi Tanzania, PTN, CAI, and are collectively referred to as the “Group.” Approval of Consolidated Financial Statements The Group’s consolidated financial statements as of 31 December 2024, were approved by the Group Board of Directors on 11 March 2025. The General Assembly has the right to amend the consolidated financial statements. 2. Basis of Presentation of the Consolidated Financial Statements 2.1. Basis of Presentation Accounting standards applied The Group’s consolidated financial statements have been prepared in accordance with the Capital Markets Board (“CMB”) Communiqué No. II-14.1, published on 13 June 2013, and the Turkish Financial Reporting Standards (“TFRS”) accepted by the CMB and enacted by the Public Oversight Accounting and Auditing Standards Authority (“KGK”). These financial statements follow the formats set by the “TFRS Taxonomy Announcement” published by KGK on 3 July 2024, and the Consolidated Financial Statement Samples and Usage Guide from the CMB. The Company and its Turkish subsidiaries comply with the KGK’s principles for accounting records and statutory financial statement preparation, in line with the Turkish Commercial Code (“TCC”), tax legislation, and the Chart of Accounts issued by the Ministry of Finance. For foreign subsidiaries, joint ventures, and associates, accounting records and financial statements are prepared according to local laws. The consolidated financial statements are based on legal records and adjusted to meet the true and fair presentation requirements of the Turkish Financial Reporting Standards. Assets and liabilities within the consolidation are translated into Turkish Lira at the exchange rate on the reporting date, while revenues and expenses use the average exchange rate, with foreign exchange differences recognized in equity. The consolidated financial statements have been prepared on a historical cost basis, except for financial investments, which are valued at fair value. Foreign Currency Translation a) Functional and Presentation Currency Each item in the financial statements of subsidiaries and associates is accounted for using the currency of the primary economic environment in which they operate (“functional currency”). The Company’s functional currency is the Euro, and the consolidated financial statements are presented in Turkish Lira. Currencies other than the Euro are considered foreign currencies. The Company measures financial statement items in its functional currency, Euro, and presents them in the reporting currency, Turkish Lira (“TL”). b) Foreign Currency Transactions and Balances Foreign currency transactions are translated at the exchange rates prevailing on the transaction dates. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rates in effect on the financial position statement date. Foreign exchange gains or losses arising from trade-related transactions (trade receivables and payables) are recognized under “other operating income/expenses,” while those arising from other monetary assets and liabilities are recorded under “finance income/expenses” in the consolidated statement of profit or loss. Non-monetary items denominated in foreign currencies and measured at cost are translated into the functional currency using the exchange rate at the date of the initial transaction. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rate prevailing at the date of fair value determination.