TÜRK HAVA YOLLARI A.O.

In accordance with the provisions of the Turkish Commercial Code and the Capital Markets Board Communiqué No. II-14.1, the consolidated financial statements for the fiscal period from January 1, 2023, to December 31, 2023, prepared in accordance with the Turkish Accounting Standards/Turkish Financial Reporting Standards (TMS/TFRS) and audited by PwC BAĞIMSIZ DENETİM ve SERBEST MUHASEBECİ MALİ MÜŞAVİRLİK A.Ş., indicate a net profit of TL 162,998,000,000 TL (one hundred sixty-two billion nine hundred ninety-eight million Turkish Liras). Pursuant to the provisional Article 33 of the Tax Procedure Law, inflation accounting was applied in the records based on the Tax Procedure Law (VUK) as of December 31, 2023. Before the application of inflation accounting, the legal records (records kept according to the Tax Procedure Law) show a net profit of TL 11,884,059,676 (eleven billion eight hundred eighty-four million fifty-nine thousand six hundred seventy-six Turkish Liras) and previous years' losses of TL 41,585,120,658 (forty-one billion five hundred eightyfive million one hundred twenty thousand six hundred fifty-eight Turkish Liras). According to the Capital Markets Board's decision dated March 7, 2024, and numbered 14/382, for comparison purposes in the profit distribution table, the unadjusted period profit and previous years' losses should be used for the 2023 legal records. Since the period net profit in our legal records before the application of inflation accounting is lower than the previous years' losses, there is no profit available for distribution in the legal records. Furthermore, the same decision requires that the offsetting of the index differences resulting from the inflation adjustments in both the TMS/TFRS and VUK-based financial statements be submitted to the General Assembly. Since our Company's TMS/TFRS financial statements are prepared in USD, inflation accounting has not been applied in these statements. In the VUK records, no offsetting has been carried out in the equity accounts. Due to the above-mentioned Board decision, since there are no distributable resources available in the legal records for profit distribution, it is deemed appropriate to transfer the net period profit of TL 162,998,000,000 (one hundred sixty-two billion nine hundred ninety-eight million Turkish Liras), obtained according to the financial statements prepared in accordance with the Turkish Accounting Standards/Turkish Financial Reporting Standards (TMS/TFRS), to previous years' profits. The Board of Directors' proposal regarding the 2023 Profit Distribution, announced on April 3, 2024, through the Public Disclosure Platform, and the accompanying Profit Distribution Table are hereby submitted for the approval of the General Assembly.