PEGASUS HAVA TAŞIMACILIĞI A.Ş.

Regulatory Filings • Dec 8, 2025

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OVERVIEW OF SMARTWINGS GROUP December 2025

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Pegasus Airlines signs agreement to acquire Czech Airlines and its subsidiary Smartwings.

Pegasus Airlines has taken a major step toward its international growth goals with the agreement to acquire Czech Airlines, one of the world's oldest airline brands and its subsidiary Smartwings, the leading leisure carrier based in the Czech Republic.

The strategic investment aims to strengthen the company's presence in Europe and support its continued global expansion. The total transaction value is 154 million euros which encompasses both companies and related receivables.

The completion of the transaction is conditional upon obtaining the mandatory regulatory approvals and other transfer conditions.

Commenting on the acquisition, Pegasus Airlines CEO Güliz Öztürk said:

«At Pegasus Airlines, we set out in 2005 with a bold ambition - to make air travel accessible to everyone. Since then, we've expanded our fleet from 14 to 127 aircraft, becoming one of the world's most efficient and profitable airlines. Now, by joining forces with Czech Airlines and Smartwings, we're opening a new chapter in our growth journey.

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OVERVIEW OF SMARTWINGS

• Smartwings, is the largest carrier in the Czech Republic and among the most established airline groups in Central and Eastern Europe with its Smartwings and Czech Airlines brands. The airline has 4 AOCs: Czech Republic, Slovakia, Poland and Hungary.
• Czech Airlines, founded in 1923, is one of the world's oldest airlines.
• Smartwings stands out with its network of 80 destinations in 20 countries, strong partnerships with tour operators, and its prominent position in the region's leisure travel market.
• The airline operates scheduled flights, charter flights and also provides wet and dry aircraft leases with a fleet of 47 aircraft. Its fleet is mostly based at Prag, Václav Havel Airport. .
• Smartwings had c.EUR1bn revenues in 2024.

E R U T T F A C R U R C R T S AI	B737-700 B737-800 B737-900 B737 MAX-8	2 24 2 13
T 7 E 4 E L F	A320 A220	2 4

Flight Network – Smartwings

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