ÇHS AR21-ENG-030622

ÇELEBİ HAVA SERVİSİ ANONİM ŞİRKETİ AND ITS SUBSIDIARIES 58 Çelebi Ground Handling Inc. 2021 Annual Report Current Period Prior Period Audited Audited Notes 1 January - 31 December 2021 1 January - 31 December 2020 A. Cash flows from operating activities 627.218.008 423.381.185 Net profit/loss for the period 564.923.397 (149.946.056) Adjustments for reconciliation of net profit/loss for the period 232.799.893 520.477.875 Adjustments related to depreciation and amortization expenses 11,12,13 206.052.038 154.426.575 Adjustments related to impairment (reversal) 8 10.510.962 18.146.502 Adjustments related to provisions 29.559.459 16.101.962 - Adjustments related to provisions for employee benefits 29.559.459 16.101.962 Adjustments related to interest income and expenses 7, 27, 28 102.433.593 79.919.144 - Adjustments related to interest income 27 (30.069.307) (23.934.579) - Adjustments related to interest expenses 132.502.900 103.853.723 Adjustments related to unrealized foreign currency translation differences (93.588.104) 248.287.115 Adjustments related to tax (income) expenses 29 65.112.502 16.868.774 Adjustments related to undistributed profit of investmens that are accounted by the equity method 6 (3.781.303) (3.059.271) Adjustments related to gains/losses on disposal of non-current assets (10.518.438) (10.212.926) Adjustments related to Losses (Gains) Due to Disposal of Associates, Joint Ventures and Financial Investments or Changes in Shares 23 (72.980.816) - Changes in working capital (103.509.462) 70.957.369 Decrease/increase in financial investments - 30.071.403 Adjustments related to increase/decrease in trade receivables (216.025.989) 28.796.490 - Decrease/increase in trade receivables from related parties 4.829.416 (1.470.577) - Decrease/increase in trade receivables from third parties (220.855.405) 30.267.067 Adjustments related to decrease/increase in other receivables related to operations (252.991.187) (21.626.040) Adjustments related to increase/decrease in inventories (17.033.804) (3.020.471) Decrease/increase in prepaid expenses (27.080.548) 14.107.777 Adjustments related to increase/decrease in trade payables 161.383.523 (6.472.007) - Increase/decrease in trade payables to related parties 965.787 (13.055.710) - Increase/decrease in trade payables to third parties 160.417.736 6.583.703 Decrease/increase in payables related to employee benefits 52.939.409 (18.182.093) Adjustments related to increase/decrease in other payables related to operations 195.299.134 47.282.310 Cash flows generated from operations 694.213.828 441.489.188 Payments related to provisions for employee benefits (23.611.829) (9.718.824) Payments related to other provisions (1.818.923) (632.701) Tax returns (payments) (41.565.068) (7.756.478) The accompanying notes form an integral part of these consolidated financial statements. CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD 1 JANUARY - 31 DECEMBER 2021 (Amounts expressed in Turkish Lira (“TL”) unless otherwise indicated.)