CELEBI GROUND HANDLING 2025 AR

144 Çelebi Ground Handling 2025 Annual Report ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) The net debt/(equity+net debt) ratio as of 31 December 2025 and 2024 is as follows: 31 December 2025 31 December 2024 Total financial liabilities 10.708.004.119 6.480.597.438 Less: Cash and cash equivalents (693.640.692) (3.358.479.089) Less: Time deposits (3.117.265.600) (1.527.343.047) Less: Restricted bank balances (570.317.765) (196.743.920) Net debt (*) 6.326.780.062 1.398.031.382 Net debt (Except for the impact of TFRS 16) 1.768.574.552 (1.698.180.233) Shareholder’s equity 9.395.197.362 7.675.814.640 Capital invested 15.721.977.424 9.073.846.022 Net debt/capital invested 0,40 0,15 (*) As of 31 December 2025, TL 4.558.205.509 of the net debt consists of the lease amounts discounted in accordance with IFRS 16 effective as of 1 January 2019 (31 December 2024: TL 3.096.211.615). 33. Fees for services received from independent audit firm The fees for the services received by the Company from the Independent Audit Firm (IAF) in the periods of 1 January - 31 December 2025 and 1 January - 31 December 2024 are as follows: 2025 2024 IAF Other IAF Total Other IAF Total IAF Independent audit fee for the reporting period 9.368.736 - 9.368.736 13.981.585 - 13.981.585 Tax audit 1.195.616 - 1.195.616 - - - Fee for other assurance services 1.822.680 - 1.822.680 2.668.937 - 2.668.937 Fees for services other than independent audit 153.975 - 153.975 249.581 - 249.581 12.541.007 - 12.541 .007 16.900.103 - 16.900.103 34. Events after the balance sheet date On 6 February 2026, an application was submitted to the Capital Markets Board of Türkiye (CMB) regarding the merger under the simplified procedure through the acquisition by the Company of Çelebi Kargo Depolama ve Dağıtım Hizmetleri A.Ş., which is 100% owned by the Company. On 24 February 2026, it was resolved to participate in the capital increase of PT Celebi Aviation Indonesia (“CAI”), a company domiciled in Jakarta, Indonesia, engaged in airport ground handling services, with a paid-in capital of IDR 166.880.000.000, of which the Company holds 99% of the shares. Accordingly, the Company decided to participate in the capital increase to IDR 231.880.000.000 and to make a capital contribution of IDR 64.350.000.000 (approximately USD 3.8 million) in line with its 99% shareholding.