ÇELEBİ HAVA SERVİSİ ANNUAL REPORT 2024

ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ VE BAĞLI ORTAKLIKLARI 90 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 Amendments to TMS 7 and TFRS 7 - Disclosures: Supplier Financing Agreements The amendments issued by the KGK in September 2023 introduce improvements to the existing provisions to help financial statement users understand the effects of supplier financing agreements on the company’s liabilities, cash flows, and exposure to liquidity risks. Supplier financing agreements are defined as agreements where one or more financial providers undertake to pay the company’s debt to its suppliers, and the company accepts to make the payment to the supplier on or after the payment date. These amendments require disclosures on the terms and conditions of such agreements, quantitative information regarding liabilities arising from them at the beginning and end of the reporting period, and the nature and effects of non-cash changes in the book value of these liabilities. Additionally, under the quantitative disclosures of liquidity risk as envisaged by TFRS 7, supplier financing agreements are given as examples of other factors that may need to be disclosed. These amendments have not had a significant impact on the Group’s financial position or performance. ii) Standards published but not yet effective and not early adopted As of the approval date of the consolidated financial statements, the new standards, interpretations, and amendments published but not yet effective for the current reporting period and not early adopted by the Group are as follows. Unless otherwise stated, the Group will make the necessary changes to its consolidated financial statements and notes once these new standards and interpretations become effective. Amendments to TFRS 10 and TMS 28: Sales or Contributions of Assets between an Investor and its Associate or Joint Venture The KGK has indefinitely postponed the effective date of the amendments to TFRS 10 and TMS 28 made in December 2017, which are related to the equity method, based on the ongoing research project outcomes. However, early adoption is still permitted. The Group will assess the effects of these amendments once the mentioned standards are finalized. TFRS 17 - New Insurance Contracts Standard In February 2019, the KGK published TFRS 17, a comprehensive new accounting standard for insurance contracts, covering recognition, measurement, presentation, and disclosure. TFRS 17 introduces a model that ensures both the measurement of liabilities arising from insurance contracts at their current balance sheet values and the recognition of profit over the period during which the services are provided. Some changes in future cash flow forecasts and risk adjustments are also recognized over the period during which services are provided. Businesses can choose to recognize the effects of changes in discount rates either in profit or loss or other comprehensive income. The standard includes specific guidance for the measurement and presentation of insurance contracts with participation features. Additionally, according to changes published by the KGK in December 2021, businesses have the option to apply a “classification overlay” transition option to address potential accounting mismatches between financial assets and insurance contract liabilities presented in comparative information when TFRS 17 is first applied. With the announcement made by KGK, the mandatory effective date of the Standard has been postponed for the following businesses to accounting periods starting on or after 1 January 2026: - Insurance, reinsurance companies, and pension companies. - Banks with holdings/investments in insurance, reinsurance companies, and pension companies. - Other companies with holdings/investments in insurance, reinsurance companies, and pension companies. This change has not had a significant impact on the Group’s financial position or performance.