CELEBI GROUND HANDLING 2025 AR

24 Çelebi Ground Handling 2025 Annual Report Winning the tender for providing airport ground handling services at Delhi International Airport for a 10-year term, Celebi Ground Handling Delhi Private Limited was established on 2009. Having a shareholding rate of 99.9%, the Company has made premium capital payment amounting to Indian Rupee 2,293,943,760 to meet the required equity capital. On 2018, the company’s name was changed as Celebi Airport Services India Private Limited (“CASI”). The Company has a 57.65% 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 380,111,195 including premium capital. Airports Served Until the Termination of Operations in India - Our subsidiary Celebi Airport Services India Pvt. Ltd. (“CASI”), in which we hold a 99.9% shareholding, operated: (i) Delhi (DEL) Indira Gandhi International Airport, (ii) Bengaluru (BLR) Kempegowda International Airport, (iii) Cochin (COK) International Airport, (iv) Hyderabad (HYD) Rajiv Gandhi International Airport, (v) Goa (GOX) Manohar International Airport, and (vi) Kannur (CNN) International Airport, - Our subsidiary Celebi GH India Private Limited (“CGHI”), in which we hold a 61% shareholding, operated Ahmedabad International Airport, - Our subsidiary Celebi NAS Airport Services India Private Limited (“Celebi NAS”), in which we hold a 59% shareholding, operated Mumbai (BOM) Chhatrapati Shivaji Maharaj International Airport, - Our subsidiary Celebi Delhi Cargo Terminal Management India Private Limited (“Celebi Delhi Cargo”), in which we hold a 74% shareholding, operated Delhi (DEL) Indira Gandhi International Airport, - Our wholly owned subsidiary Celebi GS Chennai Private Limited (“CGSC”) operated Chennai (MAA) International Airport. On 15 May 2025, instructions issued by the Bureau of Civil Aviation Security under the Ministry of Civil Aviation of India, stating that the security clearances granted to these entities under applicable Indian legislation for the provision of ground handling and warehouse air cargo services had been revoked on the grounds that they were allegedly contrary to national security interests, were served on the relevant subsidiaries listed above. As a result of these notifications, the operations of CASI, CGHI, Celebi NAS, Celebi Delhi Cargo, and CGSC at the above- mentioned airports were suspended in accordance with the applicable legislation in India. Subsequently, the concession agreements executed between the airport authorities and our Company were unilaterally terminated by the respective authorities due to the cancellation of the security clearances, in accordance with the relevant provisions of such agreements. Associates The Group’s associate accounted for using the equity method is as follows: Associate Country Field of Activity Delhi Aviation Services Private Limited (“DASPL”) India Ground Handling Services 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”. DASPL was liquidated on 21 April 2025. BOARD OF DIRECTORS 2025 Annual Report