1000 YATIRIMLAR HOLDİNG ANONİM ŞİRKETİ CONDENSED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD 1 JANUARY - 31 MARCH 2025 TOGETHER WITH AUDITOR'S REVIEW REPORT

(CONVENIENCE TRANSLATION OF FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH)

INDEX	PAGE
CONDENSED STATEMENTS OF FINANCIAL POSITION	1 - 2
CONDENSED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME…	3
CONDENSED STATEMENT OF CHANGES IN EQUITY	4
CONDENSED STATEMENT OF CASH FLOWS	5
NOTES TO THE CONDENSED FINANCIAL STATEMENTS	6 - 49

Condensed Statements of Financial Position as of 31 March 2025 and 31 December 2024 (Amounts expressed in Turkish Lira ("TRY") in terms of purchasing power of the TRY at 31 March 2025 unless otherwise indicated.)

ASSETS	Note	31.03.2025	31.12.2024
Current Assets		2,077,984,702	1,721,807,722
Cash and cash equivalents	4	6,612,176	54,891,356
Financial investments	5	896,988,648	955,145,727
Other receivables		1,154,757,119	698,802,256
- Other receivables from related parties	3-7	1,139,472,771	678,640,824
- Other receivables from third parties	7	15,284,348	20,161,432
Prepaid expenses	9	3,831,333	735,251
Other current assets	14	15,795,426	12,233,132
Non - current assets		18,186,204,035	11,554,115,330
Financial investments	5	18,159,909,291	11,526,712,629
Property, plant and equipment	10	3,699,995	4,012,862
Intangible assets	11	22,594,749	23,389,839
TOTAL ASSETS		20,264,188,737	13,275,923,052

LIABILITIES	Note	31.03.2025	31.12.2024
Short - term liabilities		707,671,006	430,102,102
Short - term portion of long - term borrowings	8	129,974,423	-
Other financial liabilities	8	41,118	6,017,732
Trade payables	6	32,214,103	21,655,094
Payables related to employee benefits	13	5,561,460	3,099,393
Other payables		536,664,406	395,545,099
- Other payables to related parties	3-7	535,978,852	394,949,812
- Other payables to third parties	7	685,554	595,287
Deferred income	9	1,180,555	2,078,963
Short - term provisions		2,013,457	1,668,189
- Short - term provisions for employee benefits	13	2,013,457	1,668,189
Other short - term liabilities		21,484	37,632
Long - term liabilities		4,385,819,630	2,723,738,473
Long - term borrowings	8	122,220,387	-
Long - term provisions		1,585,292	2,212,356
- Long - term provisions for employee benefits	13	1,585,292	2,212,356
Deferred tax liabilities	16	4,262,013,951	2,721,526,117
Equity	15	15,170,698,101	10,122,082,477
Paid-in capital		47,000,000	47,000,000
Share premium (+/-)		1,395,798,851	1,395,798,851
Capital adjustment differences		53,644,888	53,644,888
Other comprehensive income/expense not to be
reclassified to profit or loss		662,670	-
- Actuarial profit/(loss) arising from defined benefit
plans		662,670	-
Restricted reserves		6,288,200	-
Retained earnings/(losses)		8,619,350,538	16,161,247,994
Net profit/(loss) for the period		5,047,952,954	(7,535,609,256)
TOTAL LIABILITIES AND EQUITY		20,264,188,737	13,275,923,052

Condensed Statements of Profit or Loss and Other Comprehensive Income For The Period Ended 31 March 2025 and 2024

(Amounts expressed in Turkish Lira ("TRY") in terms of purchasing power of the TRY at 31 March 2025 unless otherwise indicated.)

Profit or Loss	Note	1.01.2025 31.03.2025	1.01.2024 31.03.2024

Revenue	17	-	-
Cost of sales (-)	17	-	-
Gross profit/(loss)		-	-

General administrative expenses (-)	18	(49,608,276)	(27,194,966)
Marketing, selling and distribution expenses (-)	18	(558,853)	(541,367)
Other income from operating activities	19	1,528,918	7,828,787
Other expenses from operating activities (-)	19	(102,802)	(2,281,361)
Operating profit/(loss)		(48,741,013)	(22,188,907)

Income from investment activities	20	6,732,349,473	2,963,309,632
Expenses from investment activities (-)	20	(80,849,360)	-
Operating profit/(loss) before financial
income/(expenses)		6,602,759,100	2,941,120,725

Financial income	21	160,900,699	199,013,046
Financial expenses (-)	21	(58,508,769)	(41,950,687)
Monetary (loss)/gain, net		131,422,627	(3,037,435,734)
Profit/(loss) before tax		6,836,573,657	60,747,350

Tax income/(expense) from continuing operations	16	(1,788,620,703)	(59,919,623)
Current tax expenses (-)		-	(9,559,002)
Deferred tax income/(expense)		(1,788,620,703)	(50,360,621)
Net profit/(loss) for the period		5,047,952,954	827,727
Earnings per share (TRY)	22	107.40	0.02

Condensed Statements of Profit or Loss and Other Comprehensive Income For The Period Ended 31 March 2025 and 2024

(Amounts expressed in Turkish Lira ("TRY") in terms of purchasing power of the TRY at 31 March 2025 unless otherwise indicated.)

OTHER COMPREHENSIVE INCOME	01.01.2025 31.03.2025	01.01.2024 31.03.2024
Net profit/(loss) for the period	5,047,952,954	827,727
Items that are not reclassified to profit or loss	662,670	-
Actuarial profit/(loss) arising from defined benefit plans	860,610	-
Deferred tax income/(expense)	(197,940)	-
OTHER COMPREHENSIVE INCOME (After Tax)	662,670	-
TOTAL COMPREHENSIVE INCOME	5,048,615,624	827,727

Condensed Statements of Changes In Equity for The Period Ended 31 March 2025 and 2024 (Amounts expressed in Turkish Lira ("TRY") in terms of purchasing power of the TRY at 31 March 2025 unless otherwise indicated.)

				Items that are not reclassified to profit or loss		Retained earnings
	Paid-in capital	Capital adjustment differences	Share premium	Actuarial loss arising from defined benefit plans	Restricted reserves	Retained earnings/(losses)	Net profit/(loss) for the period	Total

01 January 2024	47,000,000	53,644,888	1,395,798,851	-	-	10,015,249,187	6,145,998,807	17,657,691,733
Transfers	-	-	-	-	-	6,145,998,807	(6,145,998,807)	-
Total comprehensive income	-	-	-	-	-	-	827,727	827,727
31 March 2024	47,000,000	53,644,888	1,395,798,851	-	-	16,161,247,994	827,727	17,658,519,460
01 January 2025	47,000,000	53,644,888	1,395,798,851	-	-	16,161,247,994	(7,535,609,256)	10,122,082,477
Transfers	-	-	-	-	6,288,200	(7,541,897,456)	7,535,609,256	-
Total comprehensive income	-	-	-	662,670	-	-	5,047,952,954	5,048,615,624
31 March 2025	47,000,000	53,644,888	1,395,798,851	662,670	6,288,200	8,619,350,538	5,047,952,954	15,170,698,101

Condensed Statements of Cash Flows for The Period Ended 31 March 2025 and 2024

(Amounts expressed in Turkish Lira ("TRY") in terms of purchasing power of the TRY at 31 March 2025 unless otherwise indicated.)

	Note	01.01.2025 31.03.2025	01.01.2024 31.03.2024
A. Cash flows from operating activities		(286,742,615)	(154,918,373)
Net profit/(loss) for the period		5,047,952,954	827,727
Adjustments related to reconciliation of net profit/(loss) for the period;		(5,025,308,157)	(210,134,595)
Adjustments related to depreciation and amortization expenses	10-11	1,107,957	-
Adjustments related to provisions	13	933,602	40,290
Adjustments related to gain on bargain purchase	20	-	1,145,610,386
Adjustments related to interest income and expenses	21	(2,807,463)	(157,059,529)
Adjustments related to unrealized foreign currency translation differences		80,849,361	1,817,699,244
Adjustments related to fair value losses/(gains)		(6,732,349,473)	(3,075,807,014)
Adjustments related to tax (income)/expenses	16	1,788,620,703	59,919,623
Adjustments related to monetary gain/(loss)		(161,662,844)	(537,595)
Changes in working capital		(309,387,412)	77,097,353
Adjustments related to decrease/(increase) in other receivables from
operating activities	7	(455,954,863)	43,344,840

Adjustments related to decrease/(increase) in prepaid expenses	9	(3,096,082)	(198,237)
Adjustments related to increase/(decrease) in trade payables	6	10,559,009	8,627,254
Adjustments related to increase/(decrease) in employee benefit payables	13	2,462,067	-
Adjustments related to increase/(decrease) in other payables from operating
activities	7	141,209,116	14,239,926
Increase/(decrease) in deferred income	9	(898,408)	-
Adjustments for other increase/(decrease) in working capital		(3,668,251)	11,083,570
Cash flows from operating activities		(286,742,615)	(132,209,515)
Tax refunds/(payments)	16	-	(2,928,436)
Cash outflows arising from acquisition of shares or debt instruments of other
businesses or funds		-	(19,780,422)
B. Cash flows from investment activities		2,133,919	182,034,947

Cash outflows by purchase of property, plant and equipment and
intangible assets (-)	10-11	-	(16,884,953)
Interest received	21	2,133,919	198,919,900
C. Cash flows from financing activities		236,329,516	(41,858,423)
Cash inflows from borrowing	8	247,430,280	-

Interest paid	21	(5,124,150)	(41,860,370)
Other cash inflows/(outflows)		(5,976,614)	1,947
Net increase or decrease in cash and cash equivalents before the effect of
foreign currency translation differences		(48,279,180)	(14,741,849)
D. Effect of foreign currency translation differences on cash and cash equivalents		-	-

Net increase/(decrease) in cash and cash equivalent		(48,279,180)	(14,741,849)
E. Cash and cash equivalents at the beginning of the period	4	54,891,356	414,440,146
F. Cash and cash equivalents at the end of the period		6,612,176	399,698,297

Notes to the Condensed Financial Statements for the Interim Period Ended 31 March 2025 (Amounts expressed in Turkish Lira ("TRY") in terms of purchasing power of the TRY at 31 March 2025 unless otherwise indicated.)

NOTE 1- ORGANIZATION AND ACTIVITIES OF THE COMPANY

1000 Yatırımlar Holding Anonim Şirketi ("the Company") was established after being registered in the Turkish Trade Registry Gazette dated 28 March 2022 and numbered 10546. The Company's field of activity is to participate in the capital management of established and/or to be established companies, to take responsibility for the financing, organization and management of their investments, to increase the security of investments against possible economic fluctuations and to contribute to the commercial, industrial and financial initiatives of the relevant companies in a healthy manner and in accordance with the requirements of the national economy.

The Company's trade name and the address where it carries out its activities are as follows:

1000 Yatırımlar Holding Anonim Şirketi

Yamanevler Mahallesi, Sanayi Caddesi A Blok, No: 56, İç kapı No: 5 Ümraniye/İstanbul.

As of 31 March 2025, the number of personnel of the Company 42 (31 December 2024: 37). The number of employees working in the Company's financial investments is 318 (31 December 2024: 361).

The share capital of the Company is as follows:

Shareholders	(%)	31 March 2025	(%)	31 December 2024

Kadir Can Abdik	17.63	8,287,500	17.63	8,287,500
Mustafa Saim Birpınar	17.63	8,287,500	17.63	8,287,500
Üsame Erdoğan	17.63	8,287,500	17.63	8,287,500
Hüseyin Ardan Küçük	7.46	3,506,250	7.46	3,506,250
Haris Pojata	7.46	3,506,250	7.46	3,506,250
Lydia Yatırım Holding Anonim Şirketi (*)	11.97	5,625,000	11.97	5,625,000
Public offering capital	20.22	9,500,000	20.22	9,500,000
Paid-in capital	100.00	47,000,000	100.00	47,000,000
Positive inflation adjustment differences		53,644,888		53,644,888
Total Paid-in Capital		100,644,888		100,644,888

The Company's issued capital amounting to TRY47,000,000 has been fully paid free from any collusion. The issued capital of the Company is divided into 47,000,000 shares with a nominal value of TRY1.00 each. Of these, 8,000,000 are registered Class A shares and 39,000,000 are bearer Class B shares. Group A shares have the privilege to nominate candidates for the Board of Directors and to vote in the general assembly. Group B shares do not have any privileges, the privileges of privileged shares are specified in the relevant sections of the Company's Articles of Association. The company's registered capital ceiling is TRY62,500,000. (31 December 2024: TRY62,500,000).

NOTE 2- BASIS OF PRESENTATION OF CONDENSED FINANCIAL STATEMENTS

2.1 Basis of Presentation

Applied Financial Reporting Standards

The accompanying condensed financial statements are prepared in accordance with the Communiqué Serial II, No: 14.1, "Principals of Financial Reporting in Capital Markets" published in the Official Gazette numbered 28676 on 13 June 2013. According to the article 5 of the Communiqué, financial statements are prepared in accordance with Turkish Accounting Standards/ Turkish Financial Reporting Standards ("TFRS") and its addendum and interpretations ("IFRIC") issued by the Public Oversight Accounting and Auditing Standards Authority ("POAASA") Turkish Accounting Standards Board.

The condensed financial statements are presented in accordance with 'Announcement regarding with TFRS Taxonomy' which was published on 3 July 2024 by POA and the format and mandatory information recommended by CMB.

The condensed financial statements are prepared on the historical cost basis, except for financial investments measured at fair value. The determination of historical cost is generally based on the fair value of the consideration paid for the assets..

Going Concern

The condensed financial statements have been prepared on a going concern basis, with the assumption that the Company will benefit from their assets and fulfill their obligations in the next year and in the natural course of their activities.

Adjustment of Financial Statements in High Inflation Periods

With the announcements made by the Public Oversight Accounting and Auditing Standards Authority (POA) on 23 November 2023, entities applying TFRSs have started to apply inflation accounting in accordance with TAS 29 Financial Reporting in Hyperinflation Economies as of financial statements for the annual reporting period ending on or after 31 December 2023.

TAS 29 is applied to the financial statements, including the financial statements, of any entity whose functional currency is the currency of a hyperinflationary economy.

According to the standard, condensed financial statements prepared in the currency of a hyperinflationary economy are presented in terms of the purchasing power of that currency at the balance sheet date. Priorperiod financial statements are also presented in the current measurement unit at the end of the reporting period for comparative purposes. The Company has therefore presented its financial statements as of 31 December 2024, on the purchasing power basis as of 31 March 2025.

Pursuant to the decision of the Capital Markets Board (SPK) dated 28 December 2023 and numbered 81/1820, it has been decided that issuers and capital market institutions subject to financial reporting regulations that apply Turkish Accounting/Financial Reporting Standards will apply inflation accounting by applying the provisions of IAS 29 starting from their annual financial reports for the periods ending on 31 December 2023.

The adjustments made in accordance with IAS 29 were made using the adjustment coefficient obtained from the Consumer Price Index (CPI) of Turkey published by the Turkish Statistical Institute (TÜİK). As of 31 March 2025, the indices and adjustment coefficients used in the adjustment of the condensed financial statements are as follows:

Date	Index	Conversion factor
31.03.2025	2,954.69	1.0000
31.03.2024	2,139.47	1.3810
31.12.2024	2,684.55	1.1006

The main elements of the Company's adjustment process for financial reporting in hyperinflationary economies are as follows:

Current period financial statements prepared in TRY are expressed in terms of the purchasing power at the balance sheet date, and amounts from previous reporting periods are also adjusted and expressed in terms of the purchasing power at the end of the reporting period.
Monetary assets and liabilities are not adjusted as they are already expressed in terms of the current purchasing power at the balance sheet date. In cases where the inflation-adjusted values of non-monetary items exceed their recoverable amount or net realizable value, the provisions of IAS 36 "Impairment of Assets" and IAS 2 "Inventories" are applied, respectively.
Non-monetary assets and liabilities and equity items that are not expressed in terms of the current purchasing power at the balance sheet date have been adjusted using the relevant adjustment coefficients.
All items in the comprehensive income statement, except for those that have an impact on the comprehensive income statement of non-monetary items on the statement of condensed financial position, have been indexed using the coefficients calculated for the periods when the income and expense accounts were first reflected in the financial statements.
The impact of inflation on the Company's net monetary asset position in the current period is recorded in the net monetary gain/(loss) account in the income statement.

2.2 Statement of Compliance with Turkish Accounting Standards ("TAS")

The Company has prepared its condensed financial statements for the period ended 31 March 2025 in accordance with CMB's Communiquê Serial: II-14.1 and the announcements explaining this communiquê.

Condensed financial statements and notes are presented in accordance with the formats recommended by the CMB and including the mandatory information.

The Company keeps its accounting records in accordance with the Uniform Chart of Accounts, Turkish Commercial Code and Turkish Tax Laws and prepares its legal financial statements in TRY terms accordingly.

2.3 Current and Reporting Currency

The condensed financial statements of the Company are presented in the currency of the primary economic environment in which the entity operates (its functional currency). The functional and presentation currency of the Company is Turkish Lira ("TRY").

2.4 Shares in Associates

In accordance with paragraph 18 of TAS 28, When an investment in an associate or a joint venture is held by or is held indirectly through, an entity that is a venture capital organization, or a mutual fund, unit trust, and similar entities including investment-linked insurance funds, the entity may elect to measure that investment at fair value through profit or loss in accordance with TFRS 9. The Company has elected to measure its investments at fair value through profit or loss in accordance with this standard.

2.5 Consolidation Exceptions

Investment entity in accordance with TFRS 10 Consolidated Financial Statements is an entity that; (a) obtains funds from one or more investors for the purpose of providing those investor(s) with investment management services, (b) commits to its investor(s) that its business purpose is to invest funds solely for returns from capital appreciation, investment income, or both and (c) measures and evaluates the performance of substantially all of its investments on a fair value basis. In assessing whether it meets the definition described above, an entity shall consider whether it has the following typical characteristics of an investment entity;

(a) It has more than one investment,
(b) It has more than one investor,
(c) It has investors that are not related parties of the entity.

The Company does not consolidate its subsidiaries in accordance with TFRS 10 as it meets the above conditions and measures the fair value difference of its investments in its subsidiaries and associate at fair value through profit or loss.

2.6 Disclosures on Financial Investments

Disclosures on Financial Investments material changes in accounting policies are corrected retrospectively by restating the prior period financial statements.

According to TFRS 10, the Company did not present a financial statement by measuring its investments at fair value through profit or loss and benefiting from exclusion related to financial statement presentation. Besides, the Company is an investment entity as per the definition of investment entity in TFRS 10. The aspects indicating the Company's nature as investment entity are that: the Company gets funds from one or more investors in order to provide investment management services; undertakes its investor or investors that its business purpose is to invest the funds for only acquiring capital gain or investment income or both; and measures and appraises the performance of its all investment based on the fair value principle. Furthermore, the Company has investors without related parties as it is open to multiple investments and investors and to public.

(*) Bin Ulaşım ve Akıllı Şehir Teknolojileri A.Ş. ("Bin Ulaşım") Founded in 2019 and operating in the micromobility sector. The Company owns 75% of Bin Ulaşım's share capital amounting to TRY112,000,000. The shares of Bin Ulaşım ve Akıllı Şehir Teknolojileri Anonim Şirketi, one of the financial investments of the Company, started to be traded on the BIST Stars on 9 October 2024. The Company's capital of TRY100,000,000 was increased by TRY12,000,000 and a public offering was realized. The Company sold its shares with a nominal value of TRY4,750,000 during the public offering. Following this sale, the Company's shareholding in the subsidiary decreased from 89% to 75%.

The Company's associates and subsidiarises are as follows:

		Principal organization and place of	Core business
	(%)	operation	Activity
Bin Ulaşım ve Akıllı Şehir Teknolojileri A.Ş. (*)	75	Türkiye	Micromobility
Meta Mobilite Enerji A.Ş.	92	Türkiye	Charging Station
Algoritma Donanım ve Yazılım A.Ş.	100	Türkiye	Software
Go Sharing B.V.	100	The Netherlands	Micromobility
Altay Yenilenebilir Enerji Üretim ve Depolama A.Ş.	100	Türkiye	Energy
Cyprus Binbin Micromobility Limited	5	Cyprus	Micromobility
Yeşil Kalkınma Vakfı	100	Türkiye	Ecological Policies
Finq Teknoloji ve İnovasyon Sanayi Ticaret A.Ş.	1	Türkiye	Toy
4B Mühendislik İnşaat Enerji ve Danışmanlık A.Ş.	100	Türkiye	Engineering
1000 Ödeme Hizmetleri ve Elektronik Para A.Ş.	100	Türkiye	Technology
İstanbul Dijital Taksi Uygulamaları Turizm Sanayi ve Ticaret A.Ş.	100	Türkiye	Technology

2.7 Changes in Accounting Policies

Accounting policy changes resulting from the first application of a new TAS are applied retrospectively or prospectively in accordance with the transitional provisions of that TAS. Significant accounting errors identified are applied retrospectively and prior period financial statements are restated. If changes in accounting estimates are related to only one period, they are recognized in the period when changes are applied; if changes in estimates are related to future periods, they are recognized both in the period where the change is applied and future periods prospectively.

2.8 Changes and Errors in Accounting Policies

If changes in accounting estimates are related to only one period, they are recognized in the period when changes are applied; if changes in estimates are related to future periods, they are recognized both in the period where the change is applied and future periods prospectively. The Company has not made any significant changes in accounting estimates in the current year. Major accounting errors that have been detected are applied retrospectively and the financial statements of the previous period are restated.

2.9 New and Revised Standards and Comments

As at 31 March 2025, the accounting policies adopted in preparation of the condensed financial statements for the year ended 1 January 2025 are consistent with those of the previous financial year, except for the adoption of new and amended TFRS and interpretations of TFRS effective. The effects of these standards and interpretations on the financial position and performance of the Company are disclosed in the related paragraphs.

i) The new standards, amendments and interpretations which are effective as at 1 January 2025

- Amendments to TAS 21 - Lack of exchangeability

The amendments did not have a significant impact on the financial position or performance of the Company.

ii) Standards issued but not yet effective and not early adopted

Standards, interpretations and amendments to existing standards that are issued but not yet effective up to the date of issuance of the financial statements are as follows. The Company will make the necessary changes if not indicated otherwise, which will be affecting the financial statements and disclosures, when the new standards and interpretations become effective.

- Amendments to TFRS 10 and TAS 28: Sale or Contribution of Assets between an Investor and its Associate or Joint Venture

- TFRS 17 - The new Standard for insurance contracts

- IFRS 18 - The new Standard for Presentation and Disclosure in Financial Statements

The Company will wait until the final amendment to assess the impacts of the change.

iii) The new amendments that are issued by the International Accounting Standards Board (IASB) but not issued by Public Oversight Authority (POA)

The following amendments to IFRS 9 and IFRS 7 as well as IFRS 18 and IFRS 19 are issued by IASB but not yet adapted/issued by POA. Therefore, they do not constitute part of TFRS. The Company will make the necessary changes to its financial statements after the amendments and new Standard are issued and become effective under TFRS.

- Amendments to IFRS 9 and IFRS 7 - Classification and measurement of financial instruments

- Amendments to TFRS 9 and TFRS 7 – Contracts Concerning Electricity Generated from Natural Resources

- IFRS 18 - The new Standard for Presentation and Disclosure in Financial Statements

- IFRS 19 - Subsidiaries without Public Accountability: Disclosures

The standard is not applicable to the Company.

2.10 Summary of Significant Accounting Policies

Related Parties

The following individuals or other businesses associated with the business:

a) A person or a member of this person's close family is deemed to be related to the reporting enterprise in the following cases;

(i) If the person in question has control or joint control power over the reporting enterprise,
(ii) If the reporting entity has a significant impact,
(iii) The reporting enterprise or the reporting entity is a member of key management personnel of a parent company.

The term "close family" of the person in this paragraph is the family members who are expected to influence or be affected by this person during their relationship with the business. Examples of a person's close family member include:

a. Spouse and children of the person,
b. Children of one's spouse and
c. Dependents of the person or spouse.

b) Another entity if any of the following conditions exist:

(i) If the entity and the reporting entity are members of the same,
(ii) The entity's other entity (or a member of a group to which the other entity is a member) if it is an affiliate or joint venture,
(iii) Both entities are joint ventures of the same third party,
(iv) If one of the enterprises is a business partnership of a third enterprise and the other enterprise is an affiliate of the third enterprise in question,
(v) The entity is controlled or jointly controlled by a person identified in (a),
(vi) A person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity),
(vii) The other entity or another entity in the group of which it is a member provides key management personnel services to the entity or its parent.

Revenue

Revenues consist of sale of subsidiaries and/or associates and consultancy services provided to associates.

Income from the sale of subsidiaries and associates is recognized at the time of sale. Income from consultancy services provided to associates is recognized as income on the date the service is rendered.

Since the Company is an investment entity, the fair value differences of the companies in which it participates are recognized under revenue.

Cash and Cash Equivalents

Cash and cash equivalents are cash, demand deposits and other short term investments with a maturity of 3 months or less, which are readily convertible into cash and do not present a risk of impairment at significant time, since the date of purchase.

Financial Instruments

Financial Assets

Financial assets at fair value through profit or loss, other than those classified as financial assets at fair value through profit or loss and recognized at fair value, are recognized at fair market value plus the aggregate amount of expenses directly attributable to the acquisition. As a result of the purchase or sale of financial assets that are subject to a contract that conditions the delivery of the investment instruments in accordance with the period specified by the relevant market, the related assets are recognized or derecognized on the transaction date.

Financial assets are classified as "financial assets at fair value through profit or loss", "financial assets measured at amortized cost" and "financial assets at fair value through other comprehensive income.

Effective Interest Method

The effective interest method is a method of calculating the amortized cost of a financial asset and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset, or, where appropriate, a shorter period to the net carrying amount on initial recognition.

Income is recognized on an effective interest basis for financial assets other than those financial assets designated as at FVTPL.

Financial Investments at Fair Value Through Profit or Loss

Financial assets at fair value through profit or loss are financial assets held for trading and financial assets that are not held for trading but are accounted for in this category on initial recognition and subsidiaries and associates that meet the consolidation exception in Note 2. A financial asset is classified in this category when it is acquired for the purpose of disposal in the short term. Derivatives that are not designated as effective hedges of financial risk are also classified as financial assets at fair value through profit or loss.

The methods used in determining the fair values of subsidiaries and associates that qualify for the consolidation exception are disclosed in Note 5.

Financial assets at amortized cost

Those receivables are financial assets with fixed or determinable payments that are quoted in an active market are classified under loans and receivables. Loans and receivables are measured at amortized cost using effective interest method less any impairment.

Financial assets at fair value through other comprehensive income

Financial assets at fair value through other comprehensive income are initially recognized at fair value. Financial investments whose fair value can be reliably measured are measured at fair value.

Impairment of financial assets

At each balance sheet date, the Company assesses whether there is objective evidence that a financial asset or a group of financial assets is impaired. If any such indication exists, the Company determines the related impairment amount.

A financial asset or a group of financial assets is impaired and an impairment loss is recognized if, and only if, there is objective evidence that one or more events ("loss events") occurred after the initial recognition of the asset and that the loss event (or events) has had an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated. Losses that are probable of occurring as a result of future events are not recognized, regardless of the high probability of occurrence.

When financial assets at fair value through other comprehensive income are impaired, the cumulative gain or loss is removed from equity and recognized in net profit or loss for the period. If there is an increase in the fair value of the asset in the accounting periods following the period in which the loss is recognized, the increase in value is recognized under equity.

Foreign Currency Transactions and Balances

In preparing the condensed financial statements of the Company, transactions in foreign currencies (currencies other than TRY) are recorded at the rates of exchange prevailing on the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into TRY at the exchange rates prevailing at the end of the reporting period. Exchange differences arising from such transactions are recognized in the statement of profit or loss.

	USD		EUR
	Buying	Sales	Buying	Sales
31.03.2025	37.7656	37.8337	40.7019	40.7753
31.12.2024	35.2803	35.3438	36.7362	36.8024

Trade Payables

Trade payables represent the Company's liability for goods and services provided from suppliers within the scope of its ordinary activities. Trade payables are recorded at their fair value when they are first included in the financial statements, and in the following period, they are carried over their values calculated using the effective interest methods (Note 6)

Provisions

A provision is an obligation whose realization time or amount is unknown.

Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events; it is more likely than not that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated.

Provisions are calculated according to the best estimate made by the Company Management of the expenditure to be made to settle the obligation as of the reporting date and are discounted to present value where the effect is material.

Some or all of the economic benefit required to pay for the provision by third parties in cases where it is expected to be met, the amount to be collected is recognized as an asset if the collection of the relevant amount is almost certain and measured reliably.

Employee Benefits

Provision for employment termination benefits

Employment termination benefits, as required by the Turkish Labor Law and the laws applicable in the countries where the subsidiaries operate, represent the estimated present value of the total reserve of the future probable obligation of the Company arising in case of the retirement of the employees. In accordance with the updated TAS 19 Employee Benefits Standard, such payments qualify as defined retirement benefit plans.

The retirement pay liability recognized in the balance sheet is calculated by estimating the net present value of the future probable obligation of the Company arising from the retirement of all employees and reflected in the condensed financial statements. All actuarial gains and losses are recognized in other comprehensive income.

Unused vacation

Unused vacation rights accrued in the condensed financial statements represent the liability calculated over the current salaries of the employees for the unused vacation days of the employees as of the reporting date.

Contingent Liabilities

Contingent liability is any of the following:

a) Possible liabilities arising from past events and the realization of which are subject to the occurrence or non-existence of one or more events that are not completely under the control of the Company in the future are considered as contingent liabilities.
b) Caused by past events; but it is a present obligation that cannot be recorded for the following reasons:

(i) It is not probable that economic benefits will flow from the entity to settle the obligation; or

(ii) The amount of the liability cannot be measured reliably. In the case of being severally liable for an obligation, the portion of that obligation that is expected to be met by other parties is considered a contingent liability.

Contingent Assets

Possible assets arising from past events and the realization of which are subject to the occurrence or nonexistence of one or more events that are not completely under the control of the Company in the future are considered as contingent assets.

Contingent liabilities are disclosed in the notes to the financial statements, except when the probability of an outflow of resources embodying economic benefits is remote. If the situation requiring resource transfer is probable, contingent liabilities are reflected in the financial statements. Contingent assets, on the other hand, are explained in the notes to the financial statements only if the entry of economic benefits is possible.

Earnings per Share

Earnings per share presented in the statement of profit or loss are determined by dividing net profit by the weighted average number of ordinary shares outstanding during the period concerned. The weighted average number of shares is the number of common shares at the beginning of the period multiplied by a timeweighting factor and the number of shares repurchased or issued during the period. The time-weight factor is the ratio of the number of days in which a certain number of shares are issued to the number of days in the total period.

Subsequent Events

Events after the reporting period are those that occur in favor of or against the entity between the end of the reporting period and the date the financial statements are approved by the management body. In the case that events require a correction to be made occur subsequent to the balance sheet date, the Company makes the necessary corrections to the financial statements. The events that occur subsequent to the balance sheet date and that do not require a correction to be made are disclosed in accompanying notes, where the decisions of the users of financial statements are affected. Non-Adjusting Events After the Reporting Period are events that indicate conditions that occurred after the reporting period. In order to reflect the effects of non-adjusting events after the reporting period, no changes are made to the amounts in the financial statements for the reporting period.

Income Taxes

Taxes related to current or future periods that arise in relation to transactions and events reflected in the financial statements should be recorded. The recorded tax consists of current tax and deferred tax amounts.

Current tax refers to the tax to be paid on the financial profit of the current period. The unpaid portion of the current tax is shown in the "Tax Payable and Similar Liabilities" item in the Statement of Financial Position. The portion of the prepaid tax amount for the current and previous periods exceeding the current tax amount is shown separately in the "Prepaid Taxes and Similars" item. Term tax; It is measured over the amount calculated by taking into account the tax laws and tax rates applicable for the period. Amounts reflected in the Statement of Financial Position regarding current tax are not discounted.

Deferred tax; are the taxes payable or recoverable in future periods as a result of the recovery or payment of the assets and liabilities over their book values and the carrying forward of the previous year's losses and tax deductions to be deducted. Deferred tax asset or deferred tax liability related to taxes to be recovered or payable in future periods due to past transactions and events are recognized in the financial statements. Deferred taxes; arises from differences between the amounts at which assets and liabilities are recognized in the statement of financial position and their tax basis, and the carrying forward of retained losses and unused tax deductions that have not yet been deducted.

Temporary differences are differences between the carrying amount of an asset or liability in the statement of financial position and its tax basis. There are two types of temporary differences:

a) Taxable temporary differences: Temporary differences that will be added to the tax base in future periods when the carrying values of assets or liabilities are recovered or paid.
b) Deductible temporary difference: They are temporary differences that will be deducted from the tax base in future periods when the carrying values of assets or liabilities are recovered or paid.

Temporary differences in financial statements are determined by comparing the book values of assets and liabilities in the financial statements with their tax base values. In terms of financial statements, the tax base value is determined by considering the tax declaration of each of the companies belonging to the Company.

A deferred tax asset is recognized for all deductible temporary differences, provided that it is probable that there will be sufficient financial profit to benefit from the deductible temporary differences in the future.

Deferred tax assets are recognized if it is probable that a financial profit sufficient to offset them in the future for previous year losses and tax deductions that have not yet been deducted. A deferred tax asset is not recognized if it is not probable that a taxable profit will be sufficient to deduct undeducted tax losses or tax deductions. A deferred tax asset resulting from undeducted tax losses or tax deductions is recognized only if there are sufficient taxable temporary differences or other compelling evidence that the Company will generate sufficient taxable profits to offset such losses or reductions.

Statement of Cash Flows

In the cash flow statement, cash flows for the period are classified as cash flows arising from main activities, investing activities and financing activities.

Core activities are the main revenue-generating activities of a business. In addition, other activities of the business that are not considered investment and financing activities are also considered main activities. Cash flows arising from main activities generally arise as a result of transactions and events whose effects are reflected in profit or loss.

Investing activities are the acquisition and disposal of long-term assets and other investments not included in cash equivalents. Only expenditures that cause an asset to be recognized in the Statement of Financial Position can be classified as cash outflows from investing activity.

Financing activities are the activities that cause changes in the amount and content of the equity and liabilities of the enterprise. Gross cash inflows and outflows from investment and financing activities are classified into main groups and presented separately.

Cash flows arising from foreign currency transactions are shown over the amount found by converting the cash flow to the currency used by the enterprise using the exchange rate at the date of the cash flow.

For the purposes of the statement of cash flows, cash and cash equivalents comprise of cash in hand accounts, bank deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash with maturities equal or less than three months.

2.11 Significant Accounting Assessments, Estimates and Assumptions

Knowledge of current events and transactions, actual results may differ from the assumptions. Estimates are reviewed regularly, necessary corrections are made and reflected in the income statement in the period they are realized.

The Company's significant accounting assumptions and estimates include:

(a) (Severance pay liability is determined using actuarial assumptions (discount rates, future salaryincreases and employee turnover rates.
(b) The Company recognizes deferred tax assets and liabilities based upon temporary differences arising between its financial statements as reported for TFRS purposes and its statutory tax financial statements. These differences usually result in the recognition of revenue and expenses in different reporting periods for TFRS and tax purposes. The Company has deferred tax assets consisting of unused tax losses and other deductible temporary differences that can be deducted from future profits. The partially or fully recoverable amount of deferred tax assets is estimated under current circumstances.
(c) The fair value of the Company's financial investments has been determined by a valuation company independent of the Company. The valuation company is authorized by the CMB and provides valuation services in accordance with capital markets legislation. The fair value of the financial investments held is calculated according to the Discounted Cash Flow Method (DCF) and Net Asset Value method.

NOTE 3 - TRANSACTIONS AND BALANCES WITH RELATED PARTIES

Approximate maturities of balances due to related parties are 30 - 45 days for receivables

The details of the transactions between the Company and other related parties:

i. Balances with related parties

a) Other receivables from related parties

	31 March 2025	31 December 2024
Meta Mobilite Enerji A.Ş. (*)	596,303,349	628,350,307
Go Sharing B.V.	476,538,027	-
Algoritma Donanım ve Yazılım A.Ş.	50,514,585	30,351,224
İstanbul Dijital Taksi Uygulamaları Turizm San. ve Tic. A.Ş.	6,844,544	2,120,887
Go Sharing Spain S.L.	6,025,256	-
Altay Yenilenebilir Enerji Üretim ve Depolama A.Ş.	2,369,882	2,251,208
Go Sharing Mobilite Hizmetleri ve Ticaret A.Ş.	877,128	459,514
Bin Ulaşım ve Akıllı Şehir Teknolojileri A.Ş.	-	14,665,868
1000 Ödeme Hizmetleri ve Elektronik Para A.Ş.	-	441,816
	1,139,472,771	678,640,824

(*) The related balance consists of the balances sent for the investment commitment advance loan process used by Meta Mobilite Enerji A.Ş..

b) Other payables due to related parties

	31 March 2025	31 December 2024
4B Mühendislik İnşaat Enerji ve Danışmanlık A.Ş. (**)	294,986,787	331,113,408
Bin Ulaşım ve Akıllı Şehir Teknolojileri A.Ş.	225,493,422	-
EC Yatırımlar Holding A.Ş. (*)	15,498,643	63,836,404
	535,978,852	394,949,812

(*) EC Yatırımlar Holding A.Ş has merged with Lydia Yatırım Holding A.Ş. and transferred all of its tangible and monetary rights pursuant to the resolution of the Üsküdar 12th Notary Office dated 12.09.2024 and numbered 19811. The related amount is the debt balance received from EC Yatırımlar Holding A.Ş. within the scope of the investment made by Altay Yenilenebilir Enerji Üretim ve Depolama A.Ş. The relavant amount has been paid in full as of April 2025.

(**) The related amount is the debt amount sent to 4B Mühendislik İnşaat Enerji ve Danışmanlık A.Ş..

ii. Transactions with related parties

a) Product and service purchases from related parties

				1 January - 31 March 2025
	Interest	Rent	Other	Total
Bin Ulaşım ve Akıllı Şehir Teknolojileri A.Ş.	10,425,040	92,175	236,906,115	247,423,330
Meta Mobilite Enerji A.Ş.	-	-	111,736,306	111,736,306
4B Mühendislik İnşaat Enerji ve Danışmanlık A.Ş.	37,582,992	-	-	37,582,992
Lydia Yatırım Holding A.Ş.	4,544,180	-	-	4,544,180
Algoritma Donanım ve Yazılım A.Ş.	-	-	512,082	512,082
	52,552,212	92,175	349,154,503	401,798,890

			1 January - 31 March 2024
	Interest	Rent	Other	Total
Go Sharing Mobilite Hizmetleri ve Ticaret A.Ş.	-	-	265,197,831	265,197,831
Meta Mobilite Enerji A.Ş.	-	-	90,916,209	90,916,209
Algoritma Donanım ve Yazılım A.Ş.	-	-	40,718,594	40,718,594
Altay Yenilenebilir Enerji Üretim ve Depolama A.Ş.	-	-	31,548,480	31,548,480
İstanbul Dijital Taksi Uygulamaları Turizm San. ve Tic. A.Ş.	-	-	1,709,665	1,709,665
Bin Ulaşım ve Akıllı Şehir Teknolojileri A.Ş.	-	128,849	-	128,849
	-	128,849	430,090,779	430,219,628

b) Product and service sales to related parties

				1 January - 31 March 2025
	Interest	Rent	Other	Total
Go Sharing B.V.	78,425,756	-	413,447,897	491,873,653
Meta Mobilite Enerji A.Ş.	67,178,033	-	70,573,636	137,751,669
4B Mühendislik İnşaat Enerji ve Danışmanlık A.Ş.	-	-	43,578,184	43,578,184
Algoritma Donanım ve Yazılım A.Ş.	4,766,413	-	19,238,251	24,004,664
İstanbul Dijital Taksi Uygulamaları Turizm San. ve Tic. A.Ş.	462,103		3,943,032	4,405,135
Bin Ulaşım ve Akıllı Şehir Teknolojileri A.Ş.	-		2,834,066	2,834,066
Go Sharing Spain S.L.	602,437	-	1,747,914	2,350,351
Go Sharing Mobilite Hizmetleri ve Ticaret A.Ş.	61,067	-	-	61,067
Altay Yenilenebilir Enerji Üretim ve Depolama A.Ş.	271,980	-	60,358	332,338
	151,767,789	-	555,423,338	707,191,127

				1 January - 31 March 2024
	Interest	Rent	Other	Total
Bin Ulaşım ve Akıllı Şehir Teknolojileri A.Ş.	94,461,508	-	499,661,278	594,122,786
Meta Mobilite Enerji A.Ş.	57,472,781	-	-	57,472,781
Go Sharing Mobilite Hizmetleri ve Ticaret A.Ş.	15,066,161	30,322,234	-	45,388,395
Algoritma Donanım ve Yazılım A.Ş.	14,451,269	-	-	14,451,269
Altay Yenilenebilir Enerji Üretim ve Depolama A.Ş.	2,668,282	-	-	2,668,282
İstanbul Dijital Taksi Uygulamaları Turizm San. ve Tic. A.Ş.	81,085	-	-	81,085
	184,201,086	30,322,234	499,661,278	714,184,598

Total remuneration and benefits of key management personnel

As of 1 January - 31 March 2025, remuneration and similar benefits provided to key management personnel such as general manager and assistant general managers in the current period is TRY9,915,877 (1 January - 31 March 2024: TRY2,673,288).

NOTE 4 - CASH AND CASH EQUIVALENTS

	31 March 2025	31 December 2024
Cash in hand	351	389
Banks	6,611,825	54,890,967
- Time deposits (*)	5,726,621	46,453,582
- Demand deposits	885,204	8,437,385
	6,612,176	54,891,356

(*) The maturity of time deposits is less than 3 months and the average effective interest rate is 37% (31 December 2024: 43.95%).

As of 31 March 2025, the Company's profit share from time deposit accounts in participation banks amounts to TRY17,585.

NOTE 5 - FINANCIAL INVESTMENTS

a) Short - term financial investments

The details of the Company's short - term financial investments as at 31 March 2025 and 31 December 2024 are as follows:

	31 March	31 December
	2025	2024
Time deposits (*)	120,399,417	120,555,417
Financial investments at fair value through profit or loss	776,589,231	834,590,310
- Equity securities (**)	776,589,231	834,590,310
	896,988,648	955,145,727

(*) The maturity period of deposits is 12 months and the effective interest rate is 44% as of 31 March 2025 (31 December 2024: 44%).

(**) The Company has acquired 2.79% of Ufuk Yatırım Yönetim ve Gayrimenkul Anonim Şirketi, a company listed on the stock exchange on 14.06.2024 by evaluating the conjunctrual opportunities. The related amount is recognized in income from investing activities.

The movement of equity securities is presented below;

	1.01.2025	1.01.2024
Equity securities (**)	31.03.2025	31.03.2024
Beginning of the period	834,590,310	-
Acquisition cost	-	-
Gains on revaluation of equity instruments	18,303,450	-
Inflation effect	(76,304,529)	-
End of the period	776,589,231	-

b) Long - term financial investments

The details of the Company's long - term financial investments as at 31 March 2025 and 31 December 2024 are as follows:

	31 March 2025	31 December 2024
Financial investments at fair value through profit or loss	18,159,909,291	11,526,712,629
	18,159,909,291	11,526,712,629

	31 March 2025	31 December 2024
Shares traded on the stock exchange (*)	15,291,375,000	8,577,328,977
Shares not traded on the stock exchange	2,868,534,291	2,949,383,652
	18,159,909,291	11,526,712,629

(*) One of the financial investments of the Company, Bin Ulaşım ve Akıllı Şehir Teknolojileri Anonim Şirketi, started to be traded on Yıldız Pazar on 9 October 2024. The fair value of Bin Ulaşım ve Akıllı Şehir Teknolojileri Anonim Şirketi is recognized at fair value in the financial statements as of 31 March 2025.

Financial investments at fair value through profit or loss

As at 31 March 2024 and 31 December 2024, the fair value details of subsidiaries and associates are as follows:

	Share		Share Ratio	31 December
	Ratio	31 March
	(%)	2025	(%)	2024

Bin Ulaşım ve Akıllı Şehir Tek. A.Ş. and subsidiaries (*)	75	15,291,375,000	75	8,577,328,977
Meta Mobilite Enerji A.Ş. (*)	92	1,700,051,186	92	1,747,987,421
İstanbul Dijital Taksi Uyg. Tur. San. ve Tic. A.Ş. (****)	100	896,396,011	100	921,671,633
Algoritma Donanım ve Yazılım A.Ş. (*)	100	118,761,445	100	122,110,153
1000 Ödeme Hizmetleri ve Elektronik Para A.Ş. (**)	100	76,926,866	100	79,095,968
Altay Yenilenebilir Enerji Üretim ve Depolama A.Ş. (**)	100	46,676,318	100	47,992,447
Go Sharing B.V. ()(***)	100	28,498,299	100	29,301,864
Finq Teknoloji ve İnovasyon Sanayi Ticaret A.Ş. (***)	1	454,358	1	454,358
4B Mühendislik İnşaat Enerji ve Danışmanlık A.Ş. (***)	100	349,453	100	349,453
Yeşil Kalkınma Vakfı (***)	100	279,238	100	279,238
Cyprus Binbin Micromobility Limited	5	141,117	5	141,117
		18,159,909,291		11,526,712,629

The fair value of the companies has been determined by an independent valuation company with an independent valuation report dated 31 December 2024. The valuation report is prepared in USD and converted to Turkish lira at the end-of-period exchange rate. The valuation company is authorized by the CMB and provides valuation services in accordance with capital markets legislation. The fair value of the financial investments held are calculated according to the Discounted Cash Flow Method ("DCF") and Net Asset Value method.

(*) The fair value of the related financial investments is determined according to the Discounted Cash Flow Method.

(**) The fair value of the related financial investment is determined according to the Net Asset Value method.

(***) Related financial investments are recognized at cost.

(****) The related financial investment is recognized at fair value in the valuation report dated 31 December 2024.

(*****) The related financial investment is accounted with the stock exchange fair value at 31 March 2025.

NOTE 6 - TRADE PAYABLES

a) Trade payables

FThe details of the Company's trade payables are as follows:

	31 March 2025	31 December 2024
Trade payables to third parties	32,214,103	21,655,094
	32,214,103	21,655,094

The aging analysis of the Company's short-term trade payables is as follows:

	31 March 2025	31 December 2024
0 - 3 months	32,214,103	21,655,094
	32,214,103	21,655,094

NOTE 7 - OTHER RECEIVABLES AND PAYABLES

a) Short - term other receivables

	31 March	31 December
	2025	2024
Other receivables due from related parties (Note 3)	1,139,472,771	678,640,824
Other miscellaneous receivables	15,284,348	20,161,432
	1,154,757,119	698,802,256

b) Short - term other payables

	31 March	31 December
	2025	2024
Other payables due to related parties (Note 3)	535,978,852	394,949,812
Other miscellaneous payables	685,554	595,287
	536,664,406	395,545,099

NOTE 8 - FINANCIAL LIABILITIES

a) Short - term borrowings

	31 March 2025	31 December 2024
Bank borrowings (*)	129,974,423	-
	129,974,423	-

(*) All of the loans are in Turkish Lira.

b) Long - term borrowings

	31 March 2025	31 December 2024
Bank borrowings (*)	122,220,387	-
	122,220,387	-

(*) All of the loans are in Turkish Lira.

As of 31 March 2025, the effective interest rate on loans is 51%.

c) Short - term other financial liabilities

	31 March	31 December
	2025	2024
Other financial liabilities (**)	41,118	6,017,732
	41,118	6,017,732

(**) Other financial liabilities consists of the Company's credit cards.

d) Maturity Terms

	31 March 2025	31 December 2024
0 - 3 months	35,441,118	6,017,732
3 - 12 months	94,574,423	-
1 - 5 years	122,220,387	-
	252,235,928	6,017,732

NOTE 9 - PREPAID EXPENSES

a) Short - term prepaid expenses

The details of short - term prepaid expenses are as follows:

	31 March 2025	31 December 2024
Advances given	3,171,918	735,251
Prepaid expenses for upcoming months - insurance	659,415	-
	3,831,333	735,251

b) Short - term deferred income

	31 March 2025	31 December 2024
Prepaid expenses for upcoming months - insurance	1,180,555	2,078,963

		1,180,555	2,078,963
NOTE 10 - PROPERTY, PLANT AND EQUIPMENT

	Fixed Assets	Special Costs	Total
Cost
Opening balance as of 1 January 2025	1,918,285	3,218,028	5,136,313
Additions	-	-	-
Disposals	-	-	-
Closing balance as of 31 March 2025	1,918,285	3,218,028	5,136,313

Accumulated Amortization (-)
Opening balance as of 1 January 2025	(399,395)	(724,056)	(1,123,451)
Current period depreciation (-)	(99,601)	(213,266)	(312,867)
Disposals	-	-	-
Closing balance as of 31 March 2025	(498,996)	(937,322)	(1,436,318)
Net book value as of 1 January 2025	1,518,890	2,493,972	4,012,862
Net book value as of 31 March 2025	1,419,289	2,280,706	3,699,995

	Fixed Assets	Special Costs	Total
Cost
Opening balance as of 1 January 2024	1,445,156	3,218,028	4,663,184
Additions	580,538	-	580,538
Disposals	(107,409)	-	(107,409)
Closing balance as of 31 December 2024	1,918,285	3,218,028	5,136,313

Accumulated Amortization (-)
Opening balance as of 1 January 2024	(65,032)	(144,811)	(209,843)
Current period depreciation (-)	(349,800)	(579,245)	(929,045)
Disposals	15,437	-	15,437
Closing balance as of 31 December 2024	(399,395)	(724,056)	(1,123,451)

Net book value as of 1 January 2024	1,380,124	3,073,217	4,453,341
Net book value as of 31 December 2024	1,518,890	2,493,972	4,012,862

NOTE 11 - INTANGIBLE ASSETS

	Rights	Total
Cost Opening balance as of 1 January 2025 Additions	24,760,025 -	24,760,025 -
Closing balance as of 31 March 2025	24,760,025	24,760,025
Accumulated Amortization (-) Opening balance as of 1 January 2025 Current period depreciation (-)	(1,370,186) (795,090)	(1,370,186) (795,090)
Closing balance as of 31 March 2025	(2,165,276)	(2,165,276)
Net book value as of 1 January 2025 Net book value as of 31 March 2025	23,389,839 22,594,749	23,389,839 22,594,749

Relavant amount consists of investment to develop our system software and mobile application as of 31 March 2025.

	Rights	Total
Cost

Opening balance as of 1 January 2024	-	-
Additions	24,760,025	24,760,025
Closing balance as of 31 December 2024	24,760,025	24,760,025

Accumulated Amortization (-)
Opening balance as of 1 January 2024	-	-
Current period depreciation (-)	(1,370,186)	(1,370,186)
Closing balance as of 31 December 2024	(1,370,186)	(1,370,186)

Net book value as of 1 January 2024	-	-
Net book value as of 31 December 2024	23,389,839	23,389,839

NOTE 12 - PROVISIONS, CONTINGENT ASSETS AND LIABILITIES

a) Guarantees received

There are no contingent assets (31 December 2024: None).

b) Guarantees given

		31 March	2025	31 December 2024
Guarantee		766,000,000		1,248,712,257
Pledge		41,000,000 807,000,000		67,461,757
				1,316,174,014

				31 December
		31 March 2025		2024 (*)
	Original	TRY	Original	TRY
	Currency	Equivalent	Currency	Equivalent
CPM given by the company:	TRY	807,000,000	TRY	1,316,174,014
A. Total amount of
collaterals/pledges/mortgages		--	--	--
given for its own legal entity
B. Total amount of
collaterals/pledges/mortgages given for the
participations included in the entire
consolidation		--	--	--
C. Total amount of
collaterals/pledges/mortgages given to assure
debts of third parties, for the purpose of
conducting the business activities		--	--	--
D. Total amount of other
collaterals/pledges/mortgages given	TRY	807,000,000	TRY	1,316,174,014
i. Total amount of
collaterals/pledges/mortgages given		--		--
ii. Total amount of
collaterals/pledges/mortgages given or other
related companies that do not fall into B and C
sections	TRY	807,000,000	TRY	1,316,174,014
iii. Total amount of
collaterals/pledges/mortgages given for third
parties that do not fall into C section.		--	--	--
		807,000,000		1,316,174,014

(*) Expressed in presentation index.

NOTE 13 - EMPLOYEE BENEFITS

a) Payables related to employee benefits

The payables of the Company's employee benefits as of end of the periods are explained below:

	31 March 2025	31 December 2024
Payables to personnel (*)	3,335,685	1,922,408
Social security premium payables	2,225,775	1,176,985
	5,561,460	3,099,393

(*) The relevant amount consists of March wage accruals as of 31 March 2025. The related amount was paid in April. (The relevant amount consists of December wage accruals as of 31 December 2024. The relevant balances were paid in January).

b) Provisions for employment termination benefits

i. Unused vacation

	31 March 2025	31 December 2024
Provisions for unused vacation	2,013,457	1,668,189
	2,013,457	1,668,189
The movement of short - term provisions is as follows
	1.01.2025	1.01.2024
	31.03.2025	31.03.2024
Beginning of period	1,668,189	486,241
Additions	497,786	13,537
Inflation effect	(152,518)	(68,183)
End of period	2,013,457	431,595

ii. Provision for employment termination benefits

The Company assumes that all of its personnel will retire when they complete their service for 25 years for men and 20 years for women. The principal assumption is that the maximum liability for each year of service will increase in line with the inflation. Thus, when he retires, he finds the portion of the severance pay he will receive in accordance with his seniority on the balance sheet date. This amount is discounted at the rates stated below, in accordance with the remaining period of retirement. As of 31 March 2025 the provision was calculated with discount ratio as approximately 1.63% on the assumption of annual 23.00% inflation rate and 25.00% interest rate.

Actuarial gains and losses arising in the following year due to the differences in the discount rate and the rate of employee resignations are not considered significant, so they are not reported in the Equity in the balance sheet over the other Comprehensive Profit and Loss Statement. It is assumed that those who continue to work while they are able to retire and those who continue to work after retirement will leave on the balance sheet date.

The amount of severance pay is subject to an upper limit that is redefined every year. During these calculations, the upper limit of the salary based on severance pay has been taken into the account. This upper limit is TRY46,655.43 effective from 31 March 2025 (31 December 2024: TRY46,655.43)

	31 March 2025	31 December 2024
Provisions for employment termination benefits	1,585,292	2,212,356
	1,585,292	2,212,356

Movements of the provisions for employment termination benefits during the year are as follows:

	1.01.2025	1.01.2024
	31.03.2025	31.03.2024
Beginning of period	2,212,356	786,815
Service cost	310,186	641,079
Interest cost	125,630	18,317
Compensation paid	-	(95,053)
Actuarial gain/(loss)	(860,610)	-
Inflation effect	(202,270)	(469,409)
End of period	1,585,292	881,749
Dönem sonu

NOTE 14 - OTHER ASSETS AND LIABILITIES

a) Other current assets

The details of the Company's other current assets as of the end of the period are as follows:

	31 March	31 December
	2025	2024
Deferred VAT	15,696,250	11,970,082
Personnel advances	99,176	263,050
	15,795,426	12,233,132

NOTE 15 - EQUITY

a) Capital

The Company's issued share capital is TRY47,000,000 and has been fully paid in free of collusion. This capital is divided into 47,000,000 shares with a nominal value of TRY1.00 each of these, 8,000,000 are registered Class A shares and 39,000,000 are hearer Class B shares. Group A shares have the priviledge to nominate candidates for the Board of Directors and to vote in the General Assembly. Group B shares do not have any privileges, and the priviliged shares are specified in the relevant sections of the Company's Articles of Association. The Company's registered capital ceiling is TRY62,500,000 (31 December 2024: TRY62,500,000)

The paid-in capital structure of the Company as of 31 March 2025 and 31 December 2024 are as follows:

Shareholders	(%)	31 March 2025	(%)	31 December 2024

Kadir Can Abdik	17.63	8,287,500	17.63	8,287,500
Mustafa Saim Birpınar	17.63	8,287,500	17.63	8,287,500
Üsame Erdoğan	17.63	8,287,500	17.63	8,287,500
Hüseyin Ardan Küçük	7.46	3,506,250	7.46	3,506,250
Haris Pojata	7.46	3,506,250	7.46	3,506,250
Lydia Yatırım Holding Anonim Şirketi (*)	11.97	5,625,000	11.97	5,625,000
Public offering capital	20.22	9,500,000	20.22	9,500,000
Paid - in capital	100.00	47,000,000	100.00	47,000,000
Positive Inflation Adjustment Differences		53,644,888		53,644,888
Total paid-in capital		100,644,888		100,644,888

Out of a total of 47,000,000 shares representing the issued capital of the Company amounting to TRY47,000,000, 8,000,000 shares are designated as Group (A) shares and 39,000,000 shares are designated as Group (B) shares.

Group (A) shares have the privilege to nominate candidates not exceeding half of the number of board members and voting privileges at the general assembly. Each Group A share entitles its holder to 5 (five) votes. Each Group B share entitles its holder to 1 (one) vote.

Group (A) shareholders have the privilege to nominate candidates for the Board of Directors and to vote at the General Assembly.

Group (B) shares do not have any privileges.

b) Share premiums/discounts (+/-)

	31 March 2025	31 December 2024
Share premiums issued	1,395,798,851	1,395,798,851
	1,395,798,851	1,395,798,851

c) Other comprehensive income or expenses not to be reclassified to profit or loss

	31 March 2025	31 December 2024
Actuarial profit/(loss) arising from defined benefit plans	662,670	-
	662,670	-

d) Restricted reserves

	31 March	31 December
	2025	2024
Legal reserve	6,288,200	-
	6,288,200	-

e) Retained earnings

	31 March 2025	31 December 2024
Retained earnings	8,619,350,538	16,161,247,994
	8,619,350,538	16,161,247,994

NOTE 16 - TAX ASSETS AND LIABILITIES

Current tax expense and deferred tax

The Company is subject to corporate tax in Turkey. Provision is made in the accompanying financial statements for the estimated charge based on the Company's results for the current period.

The corporate tax rate to be accrued on taxable corporate income is calculated over the remaining tax base after adding the non-deductible expenses from the tax base in the determination of the commercial profit and deducting the tax-exempt earnings, non-taxable incomes and other deductions (previous year losses, if any, and investment discounts used if preferred).

In 2025, the effective tax rate is 23% (2024: 23%). The 2 bps decrease in the effective tax rate is mainly due to the IPO effect.

Corporation tax

Company activities are subject to Turkish Tax Legislation and practices.

The corporate tax rate is applied to the net corporate income to be found as a result of adding the expenses that are not accepted as deductible in accordance with the tax laws to the commercial income of the corporations and deducting the exemptions and discounts in the tax laws. Companies file their tax returns within the 30th of the fourth month following the close of the financial year to which they relate and are paid by the end of the respective month.

According to the Corporate Tax Law, financial losses shown on the declaration can be deducted from the corporate tax base of the period, provided that they do not exceed 5 years. Declarations and related accounting records can be examined by the tax office within five years.

Dividend payments made to resident companies in Turkey, to those who are not liable and exempt from corporate tax and income tax, and to real persons and non-resident legal entities in Turkey, are subject to income tax.

Dividend payments made from companies' resident in Turkey to joint stock companies residing in Turkey are not subject to income tax. In addition, income tax is not calculated if the profit is not distributed or added to the capital.

The effective rate in 2025 is 23% (31 December 2024: 23%).

	1.01.2025	1.01.2024
Current Period Tax Income/(Expense)	31.03.2025	31.03.2024
Current tax income/(expense)	-	(9,559,002)
Deferred tax income/(expense)	(1,788,620,703)	(50,360,621)
Operating Tax Income/(Expense)	(1,788,620,703)	(59,919,623)

Deferred Tax

The Company recognizes deferred tax assets and liabilities for temporary timing differences arising from the differences between the tax base legal financial statements and financial statements prepared in accordance with TFRS. These differences are generally due to the fact that some income and expense items are included in different periods in the tax base financial statements and financial statements prepared in accordance with TFRS, and the said differences are stated below.

Recognized in statement of profit/(loss) 31 March 2025	Temporary Differences	Deferred Tax

Financial investments	(18,431,857,901)	(4,239,327,317)
Other receivables	(148,186,980)	(34,083,005)
Intangible assets	(5,785,342)	(1,330,629)
Property, plant and equipment	(906,151)	(208,415)
Cash and cash equivalents	(17,576)	(4,042)
Prepaid expenses	(8,379)	(1,927)
Provision for employment termination benefits	1,585,292	364,617
Other short-term liabilities	1,888,889	434,444
Provisions for unused vacations	2,013,457	463,095
Short-term portion of long-term borrowings	4,764,530	1,095,842
Other payables	46,875,331	10,781,326

Deferred tax - net	(18,529,634,830)	(4,261,816,011)
Recognized in equity 31 March 2025	Temporary Differences	Deferred Tax
- Actuarial profit/(loss) arising from defined benefit plans	860,610	(197,940)
Total tax asset/(liability) - net	860,610	(197,940)

Net Asset/(Liability) Total	(18,528,774,220)	(4,262,013,951)
Total		(4,262,013,951)

Recognized in statement of profit/(loss) 31 December 2025	Temporary Differences	Deferred Tax

Financial investments	(11,819,990,389)	(2,718,597,790)
Other current assets	(10,827,087)	(2,490,230)
Intangible assets	(6,192,394)	(1,424,251)
Property, plant and equipment	(1,671,885)	(384,534)
Provisions for unused vacations	1,668,189	383,684
Other short-term liabilities	2,078,963	478,162
Provision for employment termination benefits	2,212,356	508,842

Deferred tax - net	(11,832,722,247)	(2,721,526,117)
Recognized in equity 31 December 2024	Geçici Farklar	Ertelenen Vergi
- Actuarial profit/(loss) arising from defined benefit plans	-	-
Total tax asset/(liability) - net	-	-

Net Asset/(Liability) Total	(11,832,722,247)	(2,721,526,117)
Total		(2,721,526,117)

NOTE 17 - REVENUE AND COST OF SALES

None (31.12.2024:None).

NOTE 18 - GENERAL ADMINISTRATIVE EXPENSES, MARKETING EXPENSES

Details of general administrative expenses:

	1.01.2025	1.01.2024
	31.03.2025	31.03.2024
Personnel expenses	19,005,587	10,556,240
Software expenses	18,008,667	-
Rent expenses	8,655,231	1,102,917
Consulting expenses	1,665,673	12,682,727
Representation and hospitality expenses	252,905	104,525
Tax, duties and charges expenses	41,175	690,682
Travel expenses	20,838	363,986
Other expenses	1,958,200	1,693,889
	49,608,276	27,194,966

Details of markering, selling and distribution expenses are as follows:

	1.01.2025 31.03.2025	1.01.2024
		31.03.2024
Advertisement expenses	558,853	541,367
	558,853	541,367

NOTE 19 - OTHER OPERATING INCOME AND EXPENSES

Details of other operating income:

	1.01.2025	1.01.2024
	31.03.2025	31.03.2024
Income from salary promotion	708,334	-
Current account foreign exchange gains	97,935	5,605,770
Rental income	-	2,191,873
Other income	722,649	31,144
	1,528,918	7,828,787

Details of other operating expenses:

	1.01.2025	1.01.2024
	31.03.2025	31.03.2024
Current foreign exchange losses	100,647	2,281,361
Other expenses	2,155	-
	102,802	2,281,361

NOTE 20 - INCOME AND EXPENSES FROM INVESTMENT ACTIVITIES

Detail of income from investment activities:

	1.01.2025 31.03.2025	1.01.2024 31.03.2024
Gain recognized on increase/decrease in value of financial investments (*)	6,732,349,473	1,145,610,386
Foreign exchange gains on financial investments	-	1,817,699,246
	6,732,349,473	2,963,309,632

(*) Gains on revaluation of long-term financial investments, which were classified as revenue in previous years, will be followed under "Income from Investment Activities" account as of 31.03.2025.

Detail of expenses from investment activities:

	1.01.2025	1.01.2024
	31.03.2025	31.03.2024
Foreign exchange losses on financial investments	80,849,360	-
	80,849,360	-

NOTE 21 - FINANCIAL INCOME/(EXPENSES)

Details of financial income:

1.01.2025	1.01.2024
31.03.2025	31.03.2024
148,186,980	156,069,160
12,713,719	42,850,740
-	93,146
160,900,699	199,013,046
	1.01.2024
31.03.2025	31.03.2024
51,449,207	41,860,370
5,314,804	-
1,562,910	90,317
181,848	-
58,508,769	41,950,687
	1.01.2025

NOTE 22 - EARNINGS/(LOSS) PER SHARE

Basic (loss)/earnings per share is calculated by dividing net profit attributable to equity holders of the parent by the weighted average number of ordinary shares in issue during the period concerned. The Companies can increase their share capital by making a pro-rata distribution of shares ("bonus shares") to existing shareholders from retained earnings. In earnings per share calculation, this bonus share issuance is accepted as shares issued. Hence, weighted average stock share, which is used in the calculation of (loss)/earnings per share, is acquired by retrospective application of bonus share issue.

1.01.2025 31.03.2025	1.01.2024 31.03.2024

5,047,952,954	827,727

47,000,000	47,000,000
107.40	0.02

NOTE 23 - NATURE AND LEVEL OF RISKS DERIVING FROM FINANCIAL INSTRUMENTS

Credit risk

The Company's principal financial instruments are cash and cash equivalents and other receivables. The main purpose of these financial instruments is to raise finance for the Company's operations. The Company has various other financial instruments such as trade debtors and other debtors, which arise directly from its operations. The main risks arising from the Company's financial instruments are interest rate risk, liquidity risk, foreign currency risk and credit risk. The Company management analyses each of the risks summarised below and develops the following policies.

Credit risks exposed by types of financial instruments:

Receivables
	Trade Receivables		Other Receivables		Bank Deposits	Other
31.03.2025	Related parties	Other parties	Related parties	Other parties
Maximum amount of credit risk exposed as of reporting date (A+B+C+D)	-	-	1,139,472,771	15,284,348	127,011,242	776,589,582
- The part of maximum credit risk covered with guarantees	-	-	-	-	-	-
A. Net book value of financial assets not due or not impaired	-	-	1,139,472,771	15,284,348	127,011,242	776,589,582
B. Net book value of financial assets of which conditions are
negotiated, otherwise considered as impaired or overdue	-	-	-	-	-	-
C. Net book value of assets past due but not impaired	-	-	-	-	-	-
- The part secured with collateral etc.	-	-	-	-	-	-
D. Net book value of assets impaired	-	-	-	-	-	-
- Past due amount (gross book value)	-	-	511,430,382	-	-	-
- Impairment amount (-)	-	-	(511,430,382)	-	-	-
- The part of net value under guarantee with collaterals, etc.	-	-	-	-	-	-

	Receivables
		Trade Receivables		Other Receivables		Other
31.12.2024	Related parties	Other parties	Related parties	Other parties	Bank Deposits
Maximum amount of credit risk exposed as of reporting date (A+B+C+D)	-	-	678,640,824	20,161,432	175,446,384	834,590,699
- The part of maximum credit risk covered with guarantees	-	-	-	-	-	-
A. Net book value of financial assets not due or not impaired	-	-	678,640,824	20,161,432	175,446,384	834,590,699
B. Net book value of financial assets of which conditions are
negotiated, otherwise considered as impaired or overdue	-	-	-	-	-	-
C. Net book value of assets past due but not impaired	-	-	-	-	-	-
- The part secured with collateral etc.	-	-	-	-	-	-
D. Net book value of assets impaired	-	-	-	-	-	-
- Past due amount (gross book value)	-	-	511,430,382	-	-	-
- Impairment amount (-)	-	-	(511,430,382)	-	-	-
- The part of net value under guarantee with collaterals, etc.	-	-	-	-	-	-

Liquidity risk

Liquidity risk is the possibility that the Company will not meet its net toning obligations. The occurrence of events that result in a decrease in fund resources, such as deterioration in the markets or a decrease in the credit score, causes the liquidity risk to occur. The Company management manages the liquidity risk by allocating funds and keeping sufficient cash and similar resources to fulfill the position its current and potential liabilities. The Company's liquidity risk as 31 March 2025 are as follows:

31.03.2025
Maturity Terms	Book Value	Total cash outflows (I+II+III+IV+V)	Less than 3 months (I)	3 - 12 months (II)	1 - 5 years (III)	More than 5 years (IV)	Demand Deposit (V)

Non-derivative financial liabilities
Bank borrowings	252,194,810	374,089,726	57,778,129	167,459,081	148,852,516	-	-
Credit card payables	41,118	41,118	41,118	-	-	-	-
Maturities expected	Book Value	Total cash outflows (I+II+III+IV+V)	Less than 3 months (I)	3 - 12 months (II)	1 - 5 years (III)	More than 5 years (IV)	Demand Deposit (V)
Non-derivative financial liabilities
Trade payables	32,214,103	32,214,103	32,214,103	-	-	-	-
Other payables	536,664,406	536,664,406	536,664,406	-	-	-	-
Other provisions	-	-	-	-	-	-	-
Other liabilities	21,484	21,484	21,484	-	-	-	-
Employee benefit obligations	5,561,460	5,561,460	5,561,460	-	-	-	-
Provisions for employee benefits	3,598,749	3,598,749	-	2,013,457	-	-	1,585,292

31.12.2024
Maturity Terms	Book Value	Total cash outflows (I+II+III+IV+V)	Less than 3 months (I)	3 - 12 months (II)	1 - 5 years (III)	More than 5 years (IV)	Demand Deposit (V)

Non-derivative financial liabilities
Bank credits	-	-	-	-	-	-	-
Credit card payables	6,017,732	6,017,732	6,017,732	-	-	-	-
Maturities expected	Book Value	Total cash outflows (I+II+III+IV+V)	Less than 3 months (I)	3 - 12 months (II)	1 - 5 years (III)	More than 5 years (IV)	Demand Deposit (V)
Non-derivative financial liabilities
Trade payables	21,655,094	21,655,094	21,655,094	-	-	-	-
Other payables	395,545,099	395,545,099	395,545,099	-	-	-	-
Other provisions	-	-	-	-	-	-	-
Other liabilities	37,632	37,632	37,632	-	-	-	-
Employee benefit obligations	3,099,393	3,099,393	3,099,393	-	-	-	-
Provisions for employee benefits	3,880,545	3,880,545	-	1,668,189	-	-	2,212,356

Currency risk management

The Company is exposed to foreign currency risk arising from exchange rate changes, since the amounts in foreign currency borrowed or creditor are converted into Turkish lira. The said foreign currency risk is followed by analysing the foreign currency position.

The foreign currency position table of the Company, expressed in Turkish Lira, is as follows

Foreign Currency Statement - 31.03.2025	TRY Equivalent (Functional	USD	EUR
	currency)
1. Trade receivables	-	-	-
2a. Monetary financial assets (Cash, bank accounts included)	323,109,795	-	7,938,445
2b. Non-monetary financial assets	-	-	-
3. Other	2,385,984	45,550	16,357
4. Current assets (1+2+3)	325,495,779	45,550	7,954,802
5. Trade receivables	-	-	-
6a. Monetary financial assets	18,158,685,142	480,826,073	-
6b. Non-monetary financial assets	-	-	-
7. Other	-	-	-
8. Non-current assets (5+6+7)	18,158,685,142	480,826,073	-
9. Total assets (4+8)	18,484,180,921	480,871,623	7,954,802
10. Trade payables	29,370,727	534,840	225,350
11. Financial liabilities	-	-	-
12a. Monetary other liabilities	-	-	-
12b. Non-monetary other liabilities	-	-	-
13. Short - term liabilities (10+11+12)	29,370,727	534,840	225,350
14. Trade payables	-	-	-
15. Financial liabilities	-	-	-
16a. Monetary other liabilities	-	-	-
16b. Non-monetary other liabilities	-	-	-
17. Long - term liabilities (14+15+16)	-	-	-
18. Total liabilities (13+17)	29,370,727	534,840	225,350
19. Net assets/(liabilities) position of balance sheet derivative instruments (19a-19b)	-	-	-
19a. Amount of hedged assets	-	-	-
19b. Amount of hedged liabilities	-	-	-
20. Net foreign currency assets/(liabilities) position (9-18+19)	18,454,810,194	480,336,783	7,729,452
21. Net foreign currency assets/(liabilities) position of monetary items	18,452,424,210	480,291,233	7,713,095
(=1+2a+5+6a-10-11-12a-14-15-16a)
22. Total fair value of financial instruments used for foreign currency hedging	-	-	-
23. Amount of foreign currency denominated assets hedged	-	-	-
24. Amount of foreign currency denominated liabilities hedged	-	-	-
25. Export	-	-	-
26. Import	-	-	-

Foreign Currency Statement - 31.12.2024	TRY Equivalent (According to functional currency indexed values)	TRY Equivalent (Functional currency)	USD	EUR
1. Trade receivables	-	-	-	-
2a. Monetary financial assets (Cash, bank accounts included)	4,169,425	3,788,224	-	103,120
2b. Non-monetary financial assets	-	-	-	-
3. Other	-	-	-	-
4. Current assets (1+2+3)	4,169,425	3,788,224	-	103,120
5. Trade receivables	-	-	-	-
6a. Monetary financial assets	11,525,488,450	10,471,741,543	296,815,547	-
6b. Non-monetary financial assets
7. Other	-	-	-	-
	-	-	-	-
8. Non-current assets (5+6+7)	11,525,488,450	10,471,741,543	296,815,547	-
9. Total assets (4+8)	11,529,657,875	10,475,529,767	296,815,547	103,120
10. Trade payables	-	-	-	-
11. Financial liabilities	-	-	-	-
12a. Monetary other liabilities	7,806,641	7,092,899	121,856	76,050
12b. Non-monetary other liabilities	-	-	-	-
13. Short - term liabilities (10+11+12)	7,806,641	7,092,899	121,856	76,050
14. Trade payables	-	-	-	-
15. Financial liabilities	-	-	-	-
16a. Monetary other liabilities	-	-	-	-
16b. Non-monetary other liabilities	-	-	-	-
17. Long - term liabilities (14+15+16)	-	-	-	-
18. Total liabilities (13+17)	7,806,641	7,092,899	121,856	76,050
19. Net assets/(liabilities) position of balance sheet derivative instruments (19a-19b)	-	-	-	-
19a. Amount of hedged assets	-	-	-	-
19b. Amount of hedged liabilities	-	-	-	-
20. Net foreign currency assets/(liabilities) position (9-18+19)	11,521,851,234	10,468,436,868	296,693,691	27,070
21. Net foreign currency assets/(liabilities) position of monetary items	11,521,851,234	10,468,436,868	296,693,691	27,070
(=1+2a+5+6a-10-11-12a-14-15-16a) 22. Total fair value of financial instruments used
for foreign currency hedging	-	-	-	-
23. Amount of foreign currency denominated
assets hedged	-	-	-	-
24. Amount of foreign currency denominated liabilities hedged	-	-	-	-
25. Export	-	-	-	-
26. Import	-	-	-	-

Sensitivity to currency risk

The analysis is made with the assumption that the TRY depreciates or appreciates by 10% against the exchange rates and all variables such as interest rates are constant.

31.03.2025
	Appreciation of foreign currency	Depreciation of foreign currency
Change of USD by 10% against TRY

1- Asset/(liability) denominated in USD - net	1,814,020,681	(1,814,020,681)
2- The part hedged for USD risk (-)	-	-
3- USD Effect – net (1+2)	1,814,020,681	(1,814,020,681)
Change of EUR by 10% against TRY

4- Asset/(liability) denominated in EUR - net	31,460,338	(31,460,338)
5- The part hedged for EUR risk (-)	-	-
6- EUR Effect - net (4+5)	31,460,338	(31,460,338)
Total (3+6)	1,845,481,019	(1,845,481,019)

31.12.2024
		TRY Equivalent (According to	TRY Equivalent (According to
		functional currency indexed values)	functional currency indexed values)
	Appreciation Depreciation		Appreciation	Depreciation
	of foreign currency	of foreign currency	of foreign currency	of foreign currency
USD appreciation/depreciation by 10% against TRY
1- Asset/(liability) denominated in USD - net	1,152,075,673	(1,152,075,673)	1,046,744,243	(1,046,744,243)
2- The part hedged for USD risk (-)	-	-	-	-
3- USD Effect – net (1+2)	1,152,075,673	(1,152,075,673)	1,046,744,243	(1,046,744,243)
EUR appreciation/depreciation by 10% against TRY
4- Asset/(liability) denominated in EUR - net	109,450	(109,450)	99,443	(99,443)
5- The part hedged for EUR risk (-)	-	-	-	-
6- EUR Effect - net (4+5)	109,450	(109,450)	99,443	(99,443)
Total (3+6)	1,152,185,123	(1,152,185,123)	1,046,843,686	(1,046,843,686)

Capital risk management

The Company's objectives when managing capital are to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Company return capital to shareholders, issue new shares or sell assets to reduce debt.

The Company monitors capital using the debt/equity ratio. This ratio is calculated as net debt divided by total capital. Net debt is calculated by deducting cash and cash equivalents from total debt (which includes financial liabilities, trade payables and other payables as shown in the balance sheet). Total capital is calculated by adding shareholders' equity and net debt, as shown in the balance sheet.

The Company's debt/equity ratios are as follows:

	31 March 2025	31 December 2024
Total monetary liabilities	821,114,437	423,217,925
Less: Cash and cash equivalents (Note 4)	(6,612,176)	(54,891,356)
Net debt	814,502,261	368,326,569
Total equity	15,170,698,101	10,122,082,477
Net debt/equity ratio	0.05	0.04

Fair value of financial instruments

Fair value is the amount at which a financial instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation, and is best evidenced by quoted market price, if one exists.

The estimated fair values of financial instruments have been determined by the Company using available market information and appropriate valuation methodologies.

However, judgement is necessarily required to interpret market data to estimate the fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current market exchange.

The following methods and assumptions were used to estimate the fair value of the financial instruments:

Monetary assets

Foreign currency balances are converted in Turkish Lira at the end of the period using the current foreign exchange buying rates. These balances are estimated to be close to the book value.

Given financial assets, including cash and cash equivalents, are movables with their cost values and it is estimated that their carrying values are approximately equal to their fair values due to their short - term nature.

It is expected that the book values of trade receivables, together with the related doubtful receivables provisions, project the fair value.

Monetary liabilities

It is assumed that the book values of bank loans and other monetary liabilities are close to their fair values due to their short-term nature.

Fair values of long - term foreign currency loans are close to their book values. The fair values of long-term bank loans determined to be disclosed in the related notes are the value of the cash flows stipulated capital by the contract, discounted with the current market interest rate.

Fair value estimation

The table below analyses financial instruments carried at fair value, by valuation method. The different levels have been defined as follows:

Level 1: Quoted prices in active markets for identical assets or liabilities.

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3: Inputs for the asset or liability that are not based on observable market data.

Level 1 Financial assets measured at fair	1.01.2024	1.01.2024
value through profit or loss	31.03.2025	31.12.2024
Opening balance	9,411,919,287	220,383,253
Additions	-	51,411,111
Impairment, increase in value, net	6,732,349,473	843,452,322
Transfers (*)	-	8,577,328,977
Inflation effect	(76,304,529)	(280,656,376)
Closing balance	16,067,964,231	9,411,919,287
Level 3 Financial assets measured at fair value through profit or loss	1.01.2024 31.03.2025	1.01.2024 31.12.2024
Opening balance	2,949,383,652	21,405,703,130
Impairment, increase in value, net	-	(7,906,296,976)
Inflation effect	(269,574,881)	(6,551,980,159)
Foreign exchange translation differences	188,725,520	2,303,982,930
Negotiated purchase gain	-	1,818,951,589
Additions	-	11,110,444
Capital increase	-	445,241,671
Transfers (*)	-	(8,577,328,977)
Closing balance	2,868,534,291	2,949,383,652

(*) This section shows the impact of the transition to Level 1 of the fair value hierarchy due to the listing of Bin Ulaşım on the stock exchange as of 9 October 2024.

Fair value of financial instruments

31 March 2025	Financial assets presented at amortized cost	Financial liabilities presented at amortized cost	Financial assets at fair value through profit or loss	Book value	Note

Financial Assets
Cash and cash
equivalents	6,612,176	-	-	6,612,176	4
Financial
investments	-	-	19,056,897,939	19,056,897,939	5

Financial
Liabilities
Trade payables	-	32,214,103	-	32,214,103	6
Other payables	-	536,664,406	-	536,664,406	7

	Financial assets presented at	Financial liabilities presented at	Financial assets at fair value through profit
31 December 2024	amortized cost	amortized cost	or loss	Book value	Note
Financial Assets Cash and cash
equivalents Financial	54,891,356	-	-	54,891,356	4
investments	-	-	12,481,858,356	12,481,858,356	5
Financial Liabilities
Trade payables	-	21,655,094	-	21,655,094	6
Other payables	-	395,545,099	-	395,545,099	7

NOTE 24 - EXPLANATIONS REGARDING NET MONETARY POSITION GAINS/(LOSES)

The company's net monetary position gains and (losses) before adjustments are as follows;

Non-monetary items	31 March 2025
Statement of financial position items	(923,450,704)
Financial investments	111,922
Property, plant and equipment	189,643
Other intangible assets	2,176,296
Deferred tax liabilities	(491,594)
Paid-in capital	(9,201,711)
Share premiums	(127,614,438)
Restricted reserves	(574,915)
Retaines earnings/(losses)	(788,045,907)

Statement of profit or loss items	1,054,873,331
General administrative expenses (-)	1,081,746
Marketing expenses (-)	13,039
Other income from operating activities	(18,569)
Other expenses from operating activities (-)	52
Income from investment activities	1,053,746,908
Financial income	(86,756)
Financial expenses (-)	136,911
Net monetary position gains/(losses)	131,422,627

NOTE 25- SUBSEQUENT EVENTS

6,900,000 lots of shares were purchased in 1000 Yatırımlar Holding A.Ş. (BINHO) shares in the portfolios of mutual funds established by Pardus Portföy Yönetimi A.Ş. on 15.04.2025. As a result of this transaction, BINHO shares in the portfolios of mutual funds established by Pardus Portföy Yönetim exceeded the 10% limit and reached 14.680%.

The new capital structure resulting from the share sale is as follows:

Shareholders	(%)	2025

Kadir Can Abdik	14.70	6,907,500
Mustafa Saim Birpınar	14.70	6,907,500
Üsame Erdoğan	14.70	6,907,500
Hüseyin Ardan Küçük	4.52	2,126,250
Haris Pojata	4.52	2,126,250
Lydia Yatırım Holding Anonim Şirketi	8.97	4,215,000
Other	37.89	17,810,000
Paid-in capital	100.00	47,000,000

Within the scope of the long-term plans of Altay Yenilenebilir Enerji Üretim ve Depolama A.Ş., whose shares are wholly owned by our Company, a contract has been signed with a domestic company for the construction, commissioning and investment processes of 2.1mW SPP. The area where 1.38 mW SPP will be installed is located in Halfeti district of Şanlıurfa province and the area where 0.71 mW SPP will be installed is located in Edremit district of Van province and it is estimated to be commissioned on 30.09.2025.

AI Terminal

1000 YATIRIMLAR HOLDİNG A.Ş.

10765_rns_2025-05-01_6913ad5c-7565-40ed-8f16-12d728fa5585.pdf

NOTE 1- ORGANIZATION AND ACTIVITIES OF THE COMPANY

NOTE 2- BASIS OF PRESENTATION OF CONDENSED FINANCIAL STATEMENTS

2.1 Basis of Presentation

Applied Financial Reporting Standards

Going Concern

Adjustment of Financial Statements in High Inflation Periods

2.2 Statement of Compliance with Turkish Accounting Standards ("TAS")

2.3 Current and Reporting Currency

2.4 Shares in Associates

2.5 Consolidation Exceptions

2.6 Disclosures on Financial Investments

2.7 Changes in Accounting Policies

2.8 Changes and Errors in Accounting Policies

2.9 New and Revised Standards and Comments

i) The new standards, amendments and interpretations which are effective as at 1 January 2025

- Amendments to TAS 21 - Lack of exchangeability

ii) Standards issued but not yet effective and not early adopted

iii) The new amendments that are issued by the International Accounting Standards Board (IASB) but not issued by Public Oversight Authority (POA)

2.10 Summary of Significant Accounting Policies

Related Parties

Revenue

Cash and Cash Equivalents

Financial Instruments

Financial Assets

Effective Interest Method

Financial Investments at Fair Value Through Profit or Loss

Financial assets at amortized cost

Financial assets at fair value through other comprehensive income

Impairment of financial assets

Foreign Currency Transactions and Balances

Trade Payables

Provisions

Employee Benefits

Provision for employment termination benefits

Unused vacation

Contingent Liabilities

Contingent Assets

Earnings per Share

Subsequent Events

Income Taxes

Statement of Cash Flows

2.11 Significant Accounting Assessments, Estimates and Assumptions

NOTE 3 - TRANSACTIONS AND BALANCES WITH RELATED PARTIES

i. Balances with related parties

a) Other receivables from related parties

b) Other payables due to related parties

ii. Transactions with related parties

a) Product and service purchases from related parties

b) Product and service sales to related parties

Total remuneration and benefits of key management personnel

NOTE 4 - CASH AND CASH EQUIVALENTS

NOTE 5 - FINANCIAL INVESTMENTS

a) Short - term financial investments

b) Long - term financial investments

Shares

Financial investments at fair value through profit or loss

NOTE 6 - TRADE PAYABLES

a) Trade payables

NOTE 7 - OTHER RECEIVABLES AND PAYABLES

a) Short - term other receivables

b) Short - term other payables

NOTE 8 - FINANCIAL LIABILITIES

a) Short - term borrowings

b) Long - term borrowings

c) Short - term other financial liabilities

d) Maturity Terms

NOTE 9 - PREPAID EXPENSES

a) Short - term prepaid expenses

b) Short - term deferred income

NOTE 11 - INTANGIBLE ASSETS

NOTE 12 - PROVISIONS, CONTINGENT ASSETS AND LIABILITIES

a) Guarantees received

b) Guarantees given

NOTE 13 - EMPLOYEE BENEFITS

a) Payables related to employee benefits

b) Provisions for employment termination benefits

i. Unused vacation