Financial Position A&T Finansal Kiralama A.Ş. Annual Report 2024 90 91 (Amounts expressed Turkish lira (“TL”) unless otherwise indicated.) (Amounts expressed Turkish lira (“TL”) unless otherwise indicated.) A&T FİNANSAL KİRALAMA A.Ş. A&T FİNANSAL KİRALAMA A.Ş. NOTES TO THE FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2024 A& FİNANSAL KİRAL MA A. Ş. NOTES TO THE FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2024 (Amounts expressed Turkish lira (“TL”) unless otherwise indicated.) 31 11 - COMMITMENTS AND POSSIBLE OBLIGATIONS (Continued) Letters of guarantee given and letters of credit issued: The Company has given letters of guarantee amounting to TL 30,000 (31 December 2023: TL 303,518) to the courts. As at 31 December 2024, a total of TL 226,206,602 revocable commitments consist of financial leasing commitments approved by the notary public but not activated yet (31 December 2023: TL 219,095,319). As at 31 December 2024, there are irrevocable commitments amounting to TL 5,747,633 (31 December 2023: TL 56,314,471). As of 31 December 2024, there is no mortgage on the properties subject to financial leasing registered to the Company (31 December 2023: None).. As at 31 December 2024, there is no filed against the Company (31 December 2023: None). 12 - PROVISIONS 31 December 2024 31 December 2023 Foreign Personnel Compensation 16,749,875 4,932,016 Provision for unused vacation 5,860,810 3,003,629 Provision for employment termination benefits 1,413,295 845,540 Total 24,023,980 8,781,185 In addition to these, the Company has allocated TL 235.000 to other provisions as of 31 December 2024 (31 December 2023 none). Provision for severance pay is set aside within the framework of the explanations below. Under Turkish Labor Law, the Company is required to pay employment termination benefits to each employee who has qualified. Also, employees are required to be paid their retirement pay provisions who retired by gaining right to receive reserve for employee severance indemnity. The liability has no legal funding requirement. The reserve has been calculated by estimating the present value of the future probable obligation of the Company arising from the retirement of its employees. Regulation requires actuarial valuation methods to be developed to estimate the enterprise’s obligation for such benefits. Accordingly, the following actuarial assumptions were used in the calculation of the total liability: 31 December 2024 31 December 2023 Discount rate (%) %3.00 %2.50 Circulation rate regarding the probability of retirement (%) %0.10 %0.96 A& FİNANSAL KİRAL MA A. Ş. NOTES TO THE FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2024 (Amounts expressed Turkish lira (“TL”) unless otherwise indicated.) 32 12 – PROVISIONS (Continued) The basic assumption is that the ceiling provision determined for each year of service will increase in line with inflation. Thus, the discount rate applied represents the expected real rate after adjusting for the expected effects of inflation. Severance pay provision calculation is based on the severance pay ceiling determined by the government. As of 31 December 2024 and 31 December 2023, the applicable severance pay ceiling is_35,058,58_TL and 19,982,83, respectively. Movements in the reserve for employee severance indemnity are as follows: 31 December 2024 31 December 2023 Opening balance 845,540 4,888,918 Service cost 280,637 259,858 Interest cost 207,157 730,287 Actuarial losses 115,879 (1,627) Paid during the year (35,918) (5,031,896) Ending balance 1,413,295 845,540 13 - SHAREHOLDERS’ EQUITY a) Paid-In capital The shareholders of the Company and their ownership percentages at 31 December 2024 and 2023 are as follows: 31 December 2024 31 December 2023 Nominal Shares Nominal Shares amount (%) amount (%) Arap Türk Bankası A.Ş. 161,467,700 %99.98 153,469,300 %99.98 Salih Hatipoğlu 8,075 %0.01 7,675 %0.01 Feyzullah Küpeli 8,075 %0.01 7,675 %0.01 Aziz Aydoğduoğlu 8,075 %0.01 7,675 %0.01 Erdem Özenci 8,075 %0.01 7,675 %0.01 Total paid-in share capital 161,500,000 %100.00 153,500,000 %100.00 As at 31 December 2024, the registered share capital of the Company consists of 161,500,000 registered shares with a nominal value of TL 1 each. .
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