AKFEN GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş.

Annual / Quarterly Financial Statement • Aug 22, 2024

IMPACT OF TMS 29 ON FINANCIAL STATEMENTS 22.08.2024

(million TL)	IAS 29 Including Inflation Accounting		IAS 29 Excluding Inflation Accounting(*)
Selected Consolidated Balance Sheet
Items	30.06.2024	31.12.2023	30.06.2024	31.12.2023
Total Assets	26,329	29,164	25,693	21,056
Total Liabilities	5,584	9,477	5,917	5,571
Shareholders Equity	20,745	19,687	19,777	15,485
Financial Debt	3,568	6,099	3,568	6,099
Net Financial Debt	1,414	3,385	1,414	3,385
Selected Consolidated Income Statement
Items	30.06.2024	30.06.2023	30.06.2024	30.06.2023
Revenue	474	619	448	343
Gross Profit	454	591	428	329
Operating Profit	997(***)	5,089	4,610 (**)	4,745 (**)
Net Profit for the Period (Parent Company's
Share)	1,130	2,150	4,357 (**)	2.516 (**)
EBITDA	416	562	392	311

(*) The figures excluding TAS 29 Inflation Accounting are not included in the Company's Review Auditors' Report dated June 30, 2024.

(**) The difference compared to the data including TAS 29 Inflation Accounting is mainly due to the increase in the fair value of the assets in the Company's assets.

(***) The main reason for the lower amount of Operating Profit for the 6-month period as of 30.06.2024 compared to the same period of the previous year is due to the more limited real estate value increases above inflation in the 01.01.-30.06.2024 period.