PEGASUS HAVA TAŞIMACILIĞI A.Ş.

Capital/Financing Update • Apr 30, 2025

Summary Info	Call Option Exercise for 2021 Eurobonds
Update Notification Flag	Yes
Correction Notification Flag	No
Postponed Notification Flag	No
Subject of Notification	Early Redemption

Board Decision Date	17.03.2021

Related Issue Limit Info

Currency Unit	USD
Limit	750.000.000
Issue Limit Security Type	Debt Securities
Sale Type	Oversea
Domestic / Oversea	Oversea
Capital Market Board Approval Date	01.04.2021

Capital Market Instrument To Be Issued Info

Type	Bond
Maturity Date	30.04.2026
Maturity (Day)	1.826
Sale Type	Oversea
The country where the issue takes place	İrlanda
Central Securities Depository	Euroclear & Clearstream, Lüksemburg; DTC
Ending Date of Sale	30.04.2021
Nominal Value of Capital Market Instrument Sold	375.000.000
Maturity Starting Date	30.04.2021
Issue Exchange Rate	8,2311
Interest Rate Type	Fixed Rate
Traded in the Stock Exchange	Yes
Payment Type	Foreign Exchange Payment
ISIN Code	XS2337336445
Coupon Number	10
Currency Unit	USD
Coupon Payment Frequency	Once Every Six Months

Redemption Plan of Capital Market Instrument Sold

Coupon Number	Payment Date	Was The Payment Made?
1	30.10.2021	Yes
2	29.04.2022	Yes
3	27.10.2022	Yes
4	27.04.2023	Yes
5	26.10.2023	Yes
6	29.04.2024	Yes
7	25.10.2024	Yes
8	30.04.2025	Yes
9	30.10.2025
10	30.04.2026
Principal/Maturity Date Payment Amount	30.04.2026

Rating

Does the issuer have a rating note?	Yes

Issuer Rating Note

Rating Company	Rating Note	Rating Date	Is it Investment Grade?
Fitch Ratings Limited, S&P Global Ratings Europe Limited	BB- (durağan), B+ (durağan)	06.10.2023	No

Does the capital market instrument have a rating note?	Yes

Capital Market Instrument Rating Note

Rating Company	Rating Note	Rating Date	Is it Investment Grade?
Fitch Ratings Limited, S&P Global Ratings Europe Limited	BB-, B+ (durağan)	06.10.2023	No

Early Redemption Info

Early Redemption Date	30.04.2025
Record Date	29.04.2025
Payment Date	30.04.2025
Nominal Amount Of Early Redemption	375.000.000
Remaining Amount After Early Redemption	0
Early Redemption Payment Rate (Coefficient)	1
Amount of Payment as Early Redemption	375.000.000
Currency Unit	USD
Exchange Rate	38,3672
Was All the Issued Amount Subject to Early Redemption?	Yes

Other Developments Regarding Issue

The issuance and sale of debt instruments issued with a nominal value of USD 350,000,000 for sale outside of Turkey is completed as of 30 April 2021. The maturity of the notes is 5 years with an early redemption option at three and four years. Following the buyback process initiated in September 2024, notes with a remaining nominal value of USD 163,914,000 are traded on the Irish Stock Exchange (Euronext Dublin).

Additional Explanations

The Company resolved on exercising its call option for the remaining balance of 2021 Eurobonds as of 30.04.2025, simultaneously with the eighth coupon payment. In accordance with the terms of the said Eurobonds, principal repayment at 100% of the nominal principal value was completed simultaneously with the 8th coupon payment as of 30.04.2025.