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.) 81 Çelebi Ground Handling Inc. 2021 Annual Report Operation Groups 1 January - 31 December 2020 Ground Handling Cargo and Warehouse Services Consolidation Adjustments Consolidated Revenue 656.286.585 894.666.247 (9.451.731) 1.541.501.101 Cost of sales (533.520.680) (628.049.778) 9.930.764 (1.151.639.694) Gross profit 122.765.905 266.616.469 479.033 389.861.407 General administrative expenses (141.181.694) (62.632.539) 82.410 (203.731.823) Addition: Depreciation and amortization 103.833.042 50.593.533 - 154.426.575 Addition: TFRIC -12 effect shares - 9.502.102 - 9.502.102 Addition: Provision for employment termination benefit and unused vacation 12.745.059 4.194.140 - 16.939.199 EBITDA effect of investments accounted by using equity method 21.375.580 (1.644.405) - 19.731.175 EBITDA 119.537.892 266.629.300 561.443 386.728.635 Lease expenses under TFRS 16 (75.957.835) (18.012.341) - (93.970.176) EBITDA (Except for TFRS 16) 43.580.057 248.616.959 561.443 292.758.459 The reconciliation of EBITDA with operating profit before tax is as follows: 1 January - 31 December 2021 1 January - 31 December 2020 EBITDA for reported segments 813.244.513 386.728.635 Depreciation and amortization (206.052.038) (154.426.575) TFRIC -12 effect (12.647.486) (9.502.102) Other operating income 60.483.487 373.026.812 Other operating expenses (-) (88.395.811) (353.420.853) Provisions for employment termination benefit and unused vacation (29.129.995) (16.939.199) EBITDA effect of investments accounted by using equity method (11.746.974) (19.731.175) Operating profit 525.755.696 205.735.543 Shares in profit from investments accounted by equity method 3.781.303 3.059.271 Income from investing activities 84.541.331 11.666.817 Expenses from investing activities (-) (1.219.124) (1.453.891) Finance income 188.534.725 109.917.535 Finance expenses (-) (171.358.032) (462.002.557) Profit / (loss) before tax 630.035.899 (133.077.282)