ÇHS AR21-ENG-030622

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021 ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ AND ITS SUBSIDIARIES (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.) 99 Çelebi Ground Handling Inc. 2021 Annual Report The Group calculates the reserve for employment termination benefits every six months the maximum amount of TL 10.596,74 which is effective from 1 January 2022 (1 January 2021: TL 7.638,96) has been taken into consideration in the calculations. 2021 2020 As of 1 January 48.913.299 37.411.145 Payments of provisions during the period (21.580.507) (9.162.957) Service cost of employee termination benefits 22.321.987 9.985.645 Interest cost of employee termination benefits 4.224.633 2.874.756 Actuarial gain / (loss) 9.792.230 3.921.804 Foreign currency translation differences 16.342.236 3.882.906 Transfers 956.351 - As of period end 80.970.229 48.913.299 Movements in the provision for unused vacation rights for the period between 1 January 2021 - 31 December 2021 are as follows: 2021 2020 As of 1 January 11.490.497 7.939.669 Celebi Nas opening (*) 1.785.337 - Payments of provisions during the period (2.031.322) (555.867) Increase in unused vacation rights during the period 9.704.006 8.196.919 Usage of vacation rights during the period (6.539.235) (5.062.658) Foreign currency translation differences 4.567.645 972.434 As of period end 18.976.928 11.490.497 (*) It is related to the full consolidation of Celebi Nas. b) Contingent assets and liabilities Gurantess received and given as of 31 December 2021 and 2020 are as follows: Guarantees received: 31 December 2021 31 December 2020 Guarantee letters 44.254.017 25.192.373 Guarantee cheques 5.547.267 2.058.131 Guarantee notes 3.485.511 5.151.487 53.286.795 32.401.991 Guarantees given: 31 December 2021 31 December 2020 Guarantee letters 228.624.438 186.916.431 Collaterals (*) 386.474.891 252.078.770 Pledged shares (*) 75.155.051 43.146.798 690.254.380 482.141.999 (*) TL 461.629.942 of the colleterals given and pledged shares are given to the banks for the loans borrowed by the subsidiaries and joint venture of the Group (31 December 2020: TL 295.225.568) (Note 31).