ÇELEBİ HAVA SERVİSİ ANNUAL REPORT 2024

ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ VE BAĞLI ORTAKLIKLARI 88 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 2.2 Consolidation Principles a) The consolidated financial statements include the accounts of the parent company, Çelebi Hava, its subsidiaries, joint ventures, and associates, as outlined in paragraphs (b) to (f) below. The financial statements of entities included in the consolidation scope have been prepared in accordance with TFRS, considering necessary adjustments and classifications, ensuring uniform accounting principles and practices. The financial results of subsidiaries, joint ventures, and associates are included or excluded in line with the acquisition or disposal dates of these entities. b) The consolidated financial statements include the financial statements of the Company and the entities controlled by the Company. Control is established when the Company meets the following conditions: - Has power over the investee; - Is exposed to or has rights to variable returns from the investee; and - Has the ability to use its power to influence the investee’s returns. If an event or change in circumstances occurs that may affect any of the above-listed criteria, the Company reassesses whether it maintains control over its investment. In cases where the Company does not hold the majority voting rights in an investee, it is deemed to have control over the investee if it possesses sufficient voting rights to unilaterally direct/manage the investee’s activities. The Company considers all relevant facts and circumstances, including but not limited to the following, when assessing whether its voting power is sufficient to establish control over the investee: - Comparison of the Company’s voting rights with those of other shareholders; - Potential voting rights held by the Company and other shareholders. - Rights arising from contractual agreements; and - Other facts and circumstances that may indicate the Company’s existing power to govern relevant activities when decisions need to be made (including voting outcomes in past general assembly meetings). c) The Group’s direct and indirect ownership interest in its subsidiaries is shown below, and this ownership interest corresponds to the Group’s effective share in the respective subsidiary. Subsidiary Capital share (%) 31 December 2024 31 December 2023 Celebi Delhi Cargo 74,0 74,0 Celebi Nas 59,0 59,0 CASI 99,9 99,9 CGHI 61,0 61,0 CGSC 100,0 100,0 KSU 58,7 58,7 Çelebi Kargo 99,9 99,9 Celebi Cargo 99,9 99,9 CGHH 100,0 100,0 Celebi Tanzania 65,0 65,0 PTN (*) 99,0 - CAI 99,0 - (*) As of the consolidated financial statements dated 31 December 2024, PTN’s net assets have been provisionally recognized in accordance with the provisions of TFRS 3 “Business Combinations Standard.” Under TFRS 3, any adjustments arising from the subsequent allocation of the purchase price in the provisional amounts will be made during the measurement period in accordance with TFRS 3. d) The Group considers the purchase and sale transactions of shares in subsidiaries currently under its control, carried out with entities outside the parent company, as transactions between the equity holders of the Group. Accordingly, in the case of additional share purchases from entities outside the parent company, the difference between the acquisition cost and the carrying amount of the net assets corresponding to the acquired share of the partnership is recognized in equity. In share sales to entities outside the parent company, any gain or loss resulting from the difference between the sale price and the carrying amount of the net assets corresponding to the sold share of the partnership is also recognized in equity.