HİTİT BİLGİSAYAR HİZMETLERİ A.Ş.

Investor Presentation • May 8, 2025

Shaping the Future of Aviation and Travel Technology

2025 March Results Presentation

www.hitit.com

The 2nd largest PSS provider in Europe & Africa and 3rd largest in the world *

One integrated solution suitable for all airlines, from the smallest to the largest

1 global leader in new -gen IATA ARM/NDC technology standards

Modern and scalable cloud platform with integrated AI

Crane Partner Community

We meet the needs of Partners in different business models all over the world

Visualization of Hitit Partner aircraft movements within a 24-hour period based on FlightRadar 24 data

Visualization of destinations served by Hitit Partners based on live airport data within Crane systems

2025 1 st Quarter Sales Revenues + 36% over 2024 1 st Quarter

+1 Partner in 2025 1 st Quarter

EBITDA Margin +1% vs 2024 1 st Quarter

Passenger volumes over 2024

1 st Quarter

Integrations with different banks and alternative payment systems

Sales volume generated by Hitit Partners in 2024

Countries with border and customs systems integrated with Hitit

85+ 102 \$8.5 billion

Airports served through Crane DCS in 160 countries

850+

In line with the projects being carried out within the Teknokent regulations, \$4.5 million dollars for R&D along with \$1.6 million dollars for license, hardware, and fixtures were invested as of 1 st Quarter 2025.

The effects of these investments, which reduce our costs and increase our revenues, are being realized as they are accomplished.

A new joint field research project has been initiated between Hitit CS Netherlands and VU Amsterdam University School of Business and Economics.

Similar to the 2024 project focusing on Thailand, this project will focus on the Indonesian region to evaluate and report on market position and operations of current Hitit Partner airlines, as well as potential needs and opportunities of travel agencies from an ADS perspective.

Cash and cash equivalents at the end of 1 stQuarter 2025 is \$15.2 million. The cash amount excluding lease liabilities and bank loans for the same period is \$4.5 million dollars.

As of the end of the 1 st Quarter 2025, the EBITDA amount was \$3.2m USD and the EBITDA margin was realized as 34%.

Sales were realized 75% in foreign currency, 25% in TL, with the international / domestic breakdown being 59% and 41%, respectively.

As a result of the contracts signed and sales made in the previous periods, 7 new implementation projects were completed in the 1st Quarter of 2025, the relevant systems were put into use and started to generate revenue. As of the end of 1st Quarter further implementation projects and new product additional development activities are ongoing for 12 more Partners.

As of the end of 1 st Quarter 2025 we serve 73 Partners in 50 countries on 6 continents.

As of the end of the 1 st Quarter 2025, sales revenues increased by 36% compared to the same period of the previous year and reached \$9.5 million.

As of the end of the 1 st Quarter 2025, the number of passengers, which is the basis of SaaS revenues increased by 75% compared to the same period of the previous year. Both new acquisitions and increase within the business volumes of existing partners have effect in this overall increase.

In addition to the product and service production, sales and marketing activities carried in line with its growth strategy, the company continues its investments to achieve its goals.

Within this framework, as of the end of 2025, on a USD basis;

The company meticulously monitors the developments regarding the projections announced above. Where necessary, the company will publish updates on such developments.

Functional currency is USD since 01.01.2020.

\$4.5 mn net cash position as of March 31, 2025

(*) Based on cost of sales except amortization.

Approximately 75% of sales are in foreign currency (USD or EUR)

Geographical breakdown (2025)

Currency breakdown (2025)

	2024-03M		2025-03M
Revenue Breakdown(USD)	USD	%	USD	%
SaaS	3,980	57%	6,166	65%
Software Development and Maintenance	2,088	30%	2,534	27%
IaaS ve Projects	923	13%	840	8%
Total	6,991	100%	9,540	100%

SaaS: Software as-a-Service IaaS: Infrastructure-as-a-Service

PSS	ADS	Other
83%	5%	11%

SaaS Share (%)

Approximately 67% of costs are in TL

(1) Cost breakdown including amortization expenses

(2) Personnel expense includes amortization expense resulting from capitalization of personnel expense

(3) Consists of consultancy, rent and office expenses

Currency Distribution By 1 st Quarter 2025

Hitit maintained its global leadership position in the IATA Airline Retailing Maturity (ARM) Index, and continues to play an active role in various workshops and consortium meetings at IATA's headquarters in Geneva.

Planned developments for the next quarter include presenting Hitit's upcoming OOMS solutions to the global aviation industry via an IATA-hosted webinar, as well as taking the stage at the Airline Retailing Conference in Geneva in June to unveil one of the world's first live OOMS implementations together with Hitit Partner airlines.

The HPO project is underway with software and partnerships developments, to offer more value-added services for the \$8.5 billion worth of annual payment transactions going through the Hitit ecosystem, mainly through PSS and ADS.

A go-live target within 2025 is still on track.

In conjunction with the ongoing technical and content developments of ADS, new distribution agreements have been signed in 2025 Q1 with Pegasus Airlines and Sunrise Airways, the first Hitit ADS Partner in the Caribbean region.

Change Trends in Key Indicators

Balance Sheet

Balance Sheet (USD '000)	31.12.2024	31.03.2025
Cash and cash equivalents	8,552	11,817
Financial assets	3,698	3,224
Trade receivables	9,584	9,856
Prepaid expenses	3,047	4,094
Current income tax assets	-	62
Other current assets	771	552
Total current assets	25,652	29,605
Property, plant and equipment	4,053	4,613
Intangible assets	40,520	44,044
Financial assets	500	506
Deferred tax assets	667	936
Prepaid expenses	2,699	2,781
Other non -current assets	60	62
Total non -current assets	48,499	52,942
Total assets	74,151	82,547
Trade payables	2,619	1,807
Bank loans	4,542	9,003
Lease liabilities	197	377
Current tax liabilities	268	596
Deferred income	1,199	1,433
Other current liabilities	2,005	2,757
Total current liabilities	10,830	15,973
Lease liabilities	673	1,323
Deferred income	2,876	3,621
Provision for employment termination benefits	396	423
Total non -current liabilities	3,945	5,367
Share capital	23,908	23,908
Share premium on capital stock	14,272	14,272
Legal reserves	1,100	1,440
Actuarial loss on defined retirement benefit plans, net of taxes	(87)	(87)
Currency translation difference	(234)	(234)
Profit for the year	8,491	1,832
Retained earnings	11,926	20,076

Balance Sheet (USD '000)	31.12.2024	31.03.2025
Cash and cash equivalents	8,552	11,817
Financial assets	3,698	3,224
Trade receivables	9,584	9,856
Prepaid expenses	3,047	4,094
Current income tax assets	-	62
Other current assets	771	552
Total current assets	25,652	29,605
Property, plant and equipment	4,053	4,613
Intangible assets	40,520	44,044
Financial assets	500	506
Deferred tax assets	667	936
Prepaid expenses	2,699	2,781
Other non -current assets	60	62
Total non -current assets	48,499	52,942
Total assets	74,151	82,547
Trade payables	2,619	1,807
Bank loans	4,542	9,003
Lease liabilities	197	377
Current tax liabilities	268	596
Deferred income	1,199	1,433
Other current liabilities	2,005	2,757
Total current liabilities	10,830	15,973
Lease liabilities	673	1,323
Deferred income	2,876	3,621
Provision for employment termination benefits	396	423
Total non -current liabilities	3,945	5,367
Share capital	23,908	23,908
Share premium on capital stock	14,272	14,272
Legal reserves	1,100	1,440
Actuarial loss on defined retirement benefit plans, net of taxes	(87)	(87)
Currency translation difference	(234)	(234)
Profit for the year	8,491	1,832
Retained earnings	11,926	20,076
Total equity	59,376	61,207
Total liabilities and equity	74,151	82,547

Income Statement

Income Statement (USD '000) 1 January- 31 March 2024 1 January- 31 March 2025

Net sales	6,991	9,540
COGS (-)	(4,237)	(5,139)
Gross profit before D&A	3,658	5,690
Depreciation and amortization	904	1,289
Gross profit after D&A	2,754	4,401
Gross profit margin	39%	46%
Marketing and sales expense(-)	(748)	(817)
General administrative expense(-)	(1,171)	(1,884)
Other operating income	510	312
Other operating expense(-)	(370)	(693)
Operating profit	975	1,319
Income from financial investment activities	596	602
Finance expense (-)	(349)	(542)
Finance income	-	531
Profit before tax	1,222	1,910
Income tax expense	232	(77)
Net Profit	1,454	1,832
Depreciation and amortization	(1,314)	(1,994)
EBITDA	2,296	3,245
EBITDA Margin	33%	34%

9,540
(5,139)
5,690
1,289
4,401
46%
(817)
(1,884)
312
(693)
1,319
602
(542)
531
1,910
(77)
1,832
(1,994)
3,245
34%

Steps to strengthen equal opportunities in our industry through our employment policies and collaborations with NGOs.

Efforts to protect biodiversity and promote environmental sustainability.

Aiming to mitigate the effects of climate change through our R&D efforts and enhance energy efficiency in our operations and services.

Projects in collaboration with national and international institutions and organizations.

Educational projects in technology, sports, and sustainability; efforts to bridge the digital divide; and academic collaborations.

Rackets Up project, Hitit's CSR project realized in partnership with the Turkish Table Tennis Federation (TTTF), has so far been realized in different provinces in Türkiye and has introduced many children to table tennis in a professional and sustainable manner.

The girls' and boys' winners in the Junior, Youth, and Senior categories—determined through the Rackets Up Provincial Tournaments organized to showcase the project's outcomes—will compete to become the national champions. The Rackets Up Turkey Championship is planned to be held in May 2025.

Hitit supports table tennis not only at the grassroots level but also by backing national athletes. In 2025, Hitit began covering the travel expenses of a male national player for international tournaments, and efforts are underway to extend similar support to a female athlete.

Sustainability Initiatives We support our Partners and the aviation industry, as well as our own internal processes in adopting ESG principles and best practices.

2024 GHG and Carbon Footprint reports have been published at https://hitit.com/investor-relations/sustainability

Appendix

Shareholder Structure

Organizational Structure and Current Values

The Crane Family

Use of IPO Proceeds

Shareholder Structure

As of March 31, 2025

Özkan Dülger

Free Float

%26,596

Organizational Structure and Current Values

Total Number of Employees*

Gender

Education

* Total of permanent staff and contracted consultants.

High Employee Seniority and Satisfaction

High Employee Satisfaction

With 85% employee satisfaction, we have been officially certified as a happy workplace by Happy Place to Work®.

Experienced Management Staff

The average seniority of mid and senior- level managers reaches 10 years, so the hard-won expertise and corporate memory of Hitit are preserved and transferred.

Senior IT Staff According to 2025 LinkedIn data, while the average seniority in the top 10 software companies in Turkey is 2.64 years, this figure is 5 years for Hitit employees

Seniority and retention of employees above the industry average

Crane Solutions We provide turn-key solutions for every step of the way in air travel.

crane.PAX	Reservation & Passenger
Crane. BE	Internet Booking Engine
crane.MA	Mobile Application
crane. ALM	Allotment Manager
crane.cM	Communication Manager

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-

Use Of IPO Proceeds

Development of software & infrastructure of products and solutions suitable for different markets

Infrastructure, development & improvements for the transition to cloud architecture

www.hitit.com

THANK YOU

Reşitpaşa Mah. Katar Cad. No: 4/1 ARI Teknokent 2 İç Kapı No: 601 34469 Maslak, İstanbul, Türkiye