Interim report
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM BİRLEŞİK MAĞAZALAR A.Ş. CONVENIENCE TRANSLATION INTO ENGLISH OF CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERIOD JANUARY 1, -SEPTEMBER 30, 2025
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INDEX PAGE CONSOLIDATED BALANCE SHEETS .................................................................................................. 1-2 CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ....................................................................................... 3 CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY .......................................................... 4 CONSOLIDATED STATEMENTS OF CASH FLOWS ......................................................................... 5 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ..................................................... 6-58 NOTE 1 ORGANIZATION AND NATURE OF OPERATIONS OF THE GROUP ........................................... 6-7 NOTE 2 BASIS OF PREPARATION OF FINANCIAL STATEMENT .............................................................. 7-24 NOTE 3 SEGMENT REPORTING ....................................................................................................................... 24 NOTE 4 CASH AND CASH EQUIVALENTS ..................................................................................................... 25 NOTE 5 FINANCIAL ASSETS ............................................................................................................................ 25 NOTE 6 FINANCIAL LIABILITIES .................................................................................................................... 26 NOTE 7 TRADE RECEIVABLES AND PAYABLES......................................................... ................................ 27 NOTE 8 OTHER RECEIVABLES ........................................................................................................................ 27 NOTE 9 INVENTORIES....................................................................................................................................... 28 NOTE 10 PROPERTY, PLANT AND EQUIPMENT ............................................................................................ 28-30 NOTE 11 INTANGIBLE ASSETS ......................................................................................................................... 31 NOTE 12 THE RIGHT OF USE ASSETS .............................................................................................................. 32 NOTE 13 PROVISIONS, CONTINGENT ASSETS AND LIABILITIES .............................................................. 33-35 NOTE 14 PREPAID EXPENSES AND DEFERRED INCOME ............................................................................ 35-36 NOTE 15 EMPLOYEE TERMINATION BENEFITS ............................................................................................ 36-37 NOTE 16 OTHER ASSETS AND LIABILITIES ................................................................................................... 37 NOTE 17 EQUITY .................................................................................................................................................. 38-40 NOTE 18 SALES AND COST OF SALES ............................................................................................................. 40 NOTE 19 OPERATIONAL EXPENSES ................................................................................................................ 41 NOTE 20 EXPENSE BY NATURE ........................................................................................................................ 42 NOTE 21 OTHER OPERATING INCOME AND EXPENSE ................................................................................ 42 NOTE 22 FINANCIAL INCOME ........................................................................................................................... 43 NOTE 23 FINANCIAL EXPENSE ......................................................................................................................... 43 NOTE 24 INCOME AND EXPENSE FROM INVESTING ACTIVITIES ............................................................ 43 NOTE 25 TAX ASSETS AND LIABILITIES ........................................................................................................ 44-46 NOTE 26 EARNINGS PER SHARE....................................................................................................................... 46 NOTE 27 NON - CONTROLLING INTERESTS ................................................................................................... 47 NOTE 28 RELATED PARTY DISCLOSURES ..................................................................................................... 47-48 NOTE 29 NET MONETARY POSITION GAINS/(LOSSES) ................................................................................ 49 NOTE 30 FINANCIAL INSTRUMENTS AND FINANCİAL RISK MANAGEMENT ....................................... 50-56 NOTE 31 FINANCIAL INSTRUMENTS (FAIR VALUE DISCLOSURES IN THE FRAME OF HEDGE ACCOUNTING) ............................... 57-58 NOTE 32 FEES FOR SERVİCES RECEİVED FROM INDEPENDENT AUDİT FİRM ...................................... 58 NOTE 33 SUBSEQUENT EVENTS ...................................................................................................................... 58
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. CONSOLIDATED BALANCE SHEETS AT SEPTEMBER 30, 2025 AND DECEMBER 31, 2024 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 1 ASSETS Not Reviewed Audited Notes September 30, 2025 December 31, 2024 Current assets 115.145.352 92.869.829 Cash and cash equivalents 4 3.582.147 3.530.976 Financial investments 5 15.448.975 6.803.984 Trade receivables 33.391.045 29.766.298 - Trade receivables from third parties 7 33.391.045 29.766.298 Other receivables 8 952.156 919.800 - Other receivables from related parties 106.320 3.137 - Other receivables from third parties 845.836 916.663 Inventory 9 55.459.265 46.516.730 Prepaid expenses 14 3.636.419 3.820.816 Other current assets 16 2.675.345 1.511.225 Non-current assets 211.581.771 202.954.368 Financial investments 5 6.830.676 6.830.676 Other receivables 160.749 251.168 - Other receivables from third parties 160.749 251.168 Property, plant and equipment 10 117.835.806 112.985.376 Intangible assets 339.231 272.630 - Other Intangible assets 11 299.184 232.583 - Goodwill 40.047 40.047 Right of use assets 12 84.129.121 80.273.671 Prepaid expenses 14 2.066.000 2.181.933 Deferred tax assets 25 220.188 158.914 Total assets 326.727.123 295.824.197 The accompanying notes form an integral part of these consolidated interim financial statements.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. CONSOLIDATED BALANCE SHEETS AT SEPTEMBER 30, 2025 AND DECEMBER 31, 2024 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 2 LIABILITIES Not Reviewed Audited Notes September 30, 2025 December 31, 2024 Current liabilities 114.322.835 93.662.209 Short-term liabilities 6 11.228.445 10.217.918 - Bank loans spot 180.401 - - Lease liabilities 11.048.044 10.217.918 Trade payables 90.293.635 76.026.474 - Trade payables due to related parties 28 6.346.643 6.405.841 - Trade payables due to third parties 7 83.946.992 69.620.633 Other payables 2.582.542 2.338 - Other payables due to related parties 17 2.580.600 - - Other payables due to third parties 1.942 2.338 Deferred income 14 1.174.411 1.006.876 Payables related to employee benefits 1.481.472 1.572.705 Short term provisions 1.647.811 1.232.765 - Provision for employee benefits 13 700.415 584.501 - Other short-term provisions 13 947.396 648.264 Current income tax liabilities 25 2.708.653 1.630.911 Other current liabilities 16 3.205.866 1.972.222 Non-current liabilities 58.880.336 53.479.387 Long - term liabilities 6 37.623.577 36.160.911 - Lease liabilities 37.623.577 36.160.911 Non - current provisions 2.003.637 2.096.938 - Provision for employee benefits 15 2.003.637 2.096.938 Deferred tax liabilities 25 19.253.122 15.221.538 Equity 153.523.952 148.682.601 Paid-in share capital 17 600.000 607.200 Adjustments to share capital 17 7.328.422 7.416.364 Treasury Shares 17 (5.498.339) (5.437.364) Other comprehensive income/(expense) not to be reclassified to profit or loss 28.562.837 28.562.837 - Property, plant and equipment revaluation fund 10,17 31.634.132 31.634.132 - Defined benefit plans revaluation fund loss (3.071.295) (3.071.295) Other comprehensive income/(expense) to be reclassified to profit or loss 549.626 (774.170) - Fair value increases in available-for-sale financial assets 1.517.415 1.517.415 - Foreign currency exchange difference (967.789) (2.291.585) Restricted reserves 17.100.869 16.196.777 Retained earnings 92.163.706 77.670.588 Net income for the period 11.252.907 23.313.276 Equity holders of the parent 152.060.028 147.555.508 Non-controlling interests 1.463.924 1.127.093 Total liabilities 326.727.123 295.824.197 The accompanying notes form an integral part of these consolidated interim financial statements.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME FOR THE PERIODS ENDED SEPTEMBER 30, 2025 AND 2024 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 3 The accompanying notes form an integral part of these consolidated interim financial statements Notes Not Reviewed Not Reviewed Not Reviewed Not Reviewed January 1, - September 30, 2025 July 1,- September 30, 2025 January 1, - September 30, 2024 July 1,- September 30, 2024 PROFIT OR LOSS Revenue 18 512.767.099 179.681.014 489.801.496 167.868.063 Cost of sales(-) 18 (413.417.208) (143.647.021) (405.365.128) (138.120.921) GROSS PROFIT 99.349.891 36.033.993 84.436.368 29.747.142 Marketing expenses (-) 19 (79.438.742) (26.382.860) (70.832.842) (24.903.824) General administrative expenses (-) 19 (10.470.292) (3.123.243) (9.970.997) (3.045.919) Other operating income 21 1.241.974 304.432 956.147 235.641 Other operating expense (-) 21 (1.929.224) (660.721) (1.296.336) (835.777) OPERATING PROFIT 8.753.607 6.171.601 3.292.340 1.197.263 Income related to investing activities 24 4.211.788 1.221.076 3.343.936 1.456.825 Expense related to investing activities (-) 24 (614.540) (399.891) (56.973) (13.080) OPERATING PROFIT BEFORE FINANCIAL EXPENSES 12.350.855 6.992.786 6.579.303 2.641.008 Financial income 22 70.430 18.893 135.100 33.028 Financial expense (-) 23 (5.857.893) (1.997.445) (4.594.070) (1.601.235) Monetary gain 29 15.890.350 5.044.908 22.727.198 7.413.025 PROFIT BEFORE TAX FROM CONTINUED OPERATIONS 22.453.742 10.059.142 24.847.531 8.485.826 - Current tax expense 25 (6.981.116) (2.791.294) (4.839.251) (1.783.182) - Deferred tax expense 25 (4.105.652) (1.870.712) (1.506.156) (872.224) PROFIT FROM CONTINUED OPERATIONS 11.366.974 5.397.136 18.502.124 5.830.420 NET INCOME FOR THE PERIOD 11.366.974 5.397.136 18.502.124 5.830.420 Profit for the period attributable to Equity holders of the parent 11.252.907 5.274.725 18.467.128 5.799.603 Non-controlling interest 27 114.067 122.411 34.996 30.817 Earnings per share Earnings per share from continued operations (Full TRY) 26 18,82 8,82 30,93 9,71 OTHER COMPREHENSIVE INCOME/EXPENSE Items not to be reclassified to profit/(loss) - - - - Defined benefit pension plan revaluation (loss),net - - - - Gain/(losses) on revaluation of property, plant and equipment, after tax - - - - Items to be reclassified to profit /(loss): 1.546.560 876.823 (362.860) (78.317) Revaluation of available for sale financial assets Gain/(losses), net - - - - Currency exchange difference 1.546.560 876.823 (362.860) (78.317) Other Comprehensive Income 1.546.560 876.823 (362.860) (78.317) Total comprehensive income 12.913.534 6.273.959 18.139.264 5.752.103 Total comprehensive income attributable to Non-controlling interest 27 336.831 270.560 (10.307) 60.409 Equity holders of the parent 12.576.703 6.003.399 18.149.571 5.691.694
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY FOR THE PERIODS ENDED SEPTEMBER 30, 2025 AND 2024 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 4 Not Reviewed Other comprehensive income not to be reclassified to profit or loss Other comprehensive income to be reclassified to profit or loss Retained earnings Paid-in share capital Adjustments to share capital Treasury shares Restricted reserves Property, plant and equipment revaluation fund Actuarial loss on defined benefit plans Foreign currency exchange differences Fair value changes in available- for-sale financial assets Retained earnings Net income for the period Equities of the Parent Non- controlling interests Total equity Balance at January 1, 2024 607.200 7.416.364 (4.200.822) 13.974.032 20.565.397 (2.444.375) (2.099.406) 2.534.207 60.842.657 27.962.194 125.157.448 1.140.441 126.297.889 Transfers - - - 849.735 - - - - 27.112.459 (27.962.194) - - - Increase/decrease due to acquisition of treasury shares - - - - - - - - - - - - - Dividend paid - - - - - - - - (8.785.908) - (8.785.908) - (8.785.908) Increase due to other changes - - - - - - - - (116.954) - (116.954) - (116.954) Net income for the period - - - - - - - - - 18.467.128 18.467.128 34.996 18.502.124 Other comprehensive income - - - - - - (317.557) - - - (317.557) (45.303) (362.860) Total comprehensive income - - - - - - (317.557) - - 18.467.128 18.149.571 (10.307) 18.139.264 Balance at September 30, 2024 607.200 7.416.364 (4.200.822) 14.823.767 20.565.397 (2.444.375) (2.416.963) 2.534.207 79.052.254 18.467.128 134.404.157 1.130.134 135.534.291 Balance at January 1, 2025 607.200 7.416.364 (5.437.364) 16.196.777 31.634.132 (3.071.295) (2.291.585) 1.517.415 77.670.588 23.313.276 147.555.508 1.127.093 148.682.601 Transfers - - - 747.975 - - - - 22.565.301 (23.313.276) - - - Increase/decrease due to acquisition of treasury shares (7.200) (87.942) (60.975) 156.117 - - - - - - - - - Increase/Decrease Due to Share-Based Transactions - - - - - - - - (104.350) - (104.350) - (104.350) Dividend paid (Note 17) - - - - - - - - (7.966.304) - (7.966.304) - (7.966.304) Net income for the period - - - - - - - - - 11.252.907 11.252.907 114.067 11.366.974 Increase due to other changes - - - - - - - - (1.529) - (1.529) - (1.529) Other comprehensive income - - - - - - 1.323.796 - - - 1.323.796 222.764 1.546.560 Total comprehensive income - - - - - - 1.323.796 - - 11.252.907 12.576.703 336.831 12.913.534 Balance at September 30, 2025 600.000 7.328.422 (5.498.339) 17.100.869 31.634.132 (3.071.295) (967.789) 1.517.415 92.163.706 11.252.907 152.060.028 1.463.924 153.523.952 The accompanying notes form an integral part of these consolidated interim financial statements.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIODS ENDED SEPTEMBER 30, 2025 AND 2024 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 5 Not Reviewed Not Reviewed Notes January 1, - September 30, 2025 January 1, - September 30, 2024 A. CASH FLOWS FROM OPERATING ACTIVITIES 38.960.328 40.151.985 Profit for the period 11.366.974 18.502.124 Adjustments to reconcile profit for the period 33.095.727 19.460.585 Depreciation and amortization 10,11,12 19.944.212 15.922.908 Provisions for impairments 16.617 (31.404) - Provisions for impairments of inventories 9 14.616 (31.161) - Allowance for doubtful receivables 8 2.001 (243) Adjustments related to provisions 1.171.853 767.644 - Adjustments related to provision for employment termination benefits 13,15 935.573 776.907 - Adjustments related to the legal provisions 13 (31.426) (5.388) - Adjustments related to other provisions 13 267.706 (3.875) Adjustments related to financial income and expense 8.125.085 7.642.508 - Adjustments related to financial expenses 23 5.153.793 4.085.613 - Adjustments related to deferred financial expense from future purchases. 30 2.971.292 3.556.895 Adjustments for tax expense 25 11.086.768 6.345.407 (Gain)/ loss on sale of tangible and intangible assets 24 614.540 (56.973) Adjustments related to unrealized currency exchange differences 1.696.808 873.670 Adjustments related to monetary gain / (loss) (9.819.217) (11.890.392) Other adjustments related profit / (loss) reconciliation 259.061 (112.783) Changes in net working capital 554.057 7.929.242 Increases/decreases in inventories (8.957.151) 1.050.871 Increases/decreases in trade receivables (3.624.747) (1.224.247) Increases/decreases in other assets (71.236) 248.579 Increases/decreases in trade payables 11.295.869 5.945.346 Increases/decreases in other payables (396) 68 Increases/decreases other net working capital 1.911.718 1.908.625 Net cash generated from operating activities 45.016.758 45.891.951 Income taxes paid 25 (5.535.393) (4.820.631) Employee benefits paid 15 (521.037) (919.335) B. CASH FLOWS FROM INVESTING ACTIVITIES (24.675.193) (33.466.799) Proceeds from sale of tangible and intangible assets (492.668) 739.736 Cash outflows from purchases of tangible and intangible assets 10,11 (15.378.746) (18.014.029) - Purchases of tangible assets 10 (15.249.561) (17.964.832) - Purchases of intangible assets 11 (129.185) (49.197) Participation (profit) share and cash inflows/(outflows) from other financial instruments (8.644.991) (16.022.516) Cash advances given and liabilities 14 (158.788) (169.990) C. CASH FLOWS FROM FINANCING ACTIVITIES (13.348.480) (8.305.010) Cash inflows/(outflows) arising from borrowings 6 180.401 467.862 Cash outflows from payments of rent agreements 6 (8.537.602) (7.039.385) Dividend paid 17 (4.930.304) (1.733.487) Cash inflows/(outflows) related to the company's own shares and receivables based on other equity instruments 17 (60.975) - NET INCREASE IN CASH AND CASH EQUIVALENTS BEFORE CURRENCY EXCHANGE DIFFERENCES (A+B+C) 936.655 (1.619.824) Monetary loss on cash and cash equivalents (804.283) (1.064.291) D. EFFECTS OF CURRENCY EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS (81.201) (49.474) NET INCREASE IN CASH AND CASH EQUIVALENTS (A+B+C+D) 51.171 (2.733.589) E. CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD 4 3.530.976 6.531.654 CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (A+B+C+D+E) 4 3.582.147 3.798.065 The accompanying notes form an integral part of these consolidated interim financial statements.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 6 1. Organization and nature of operations of the Group BİM Birleşik Mağazalar Anonim Şirketi (“BİM” or “the Company”) was established on May 31, 1995 and commenced its operations in September 1995. The registered address of the Group is Ebubekir Cad. No: 73 Sancaktepe, İstanbul. The Company is engaged in operating retail stores through its retail shops throughout Turkey, which sell an assortment of approximately 1.000 items, including a number of private labels. The Company is publicly traded in Istanbul Stock Exchange (ISE) since July 2005. The Company established a new company named BIM Maroc S.A. on May 19, 2008 with 100% ownership in Morocco which is engaged in hard discount retail sector and started to operate on July 11, 2009. As of May 4, 2021, the shares of BIM Maroc S.A. (“Bim Morocco”) representing 35% of its capital were sold to Blue Investment Holding with B İM retaining full control with 65% of the shares. Bim Morocco’s financial statements are consolidated by using the full consolidation method as of September 30, 2025. The Company established a new company named BIM Stores LLC (“Bim Egypt”) on July 24, 2012 with 100% ownership in Egypt which is engaged in that hard discount retail sector and first stores of Bim Egypt were opened in April 2013. Bim Egytp’s financial statements are consolidated by using the full consolidation method as of September 30, 2025. GDP Gıda Paketleme ve Sanayi ve Ticaret A.Ş. (“GDP Gıda”), which is a 100% subsidiary to provide the supply and packaging of various foodstuffs, especially rice and pulses, became a legal entity and started its activities with the completion of the registration procedures in 2017. GDP Gıda’s financial statements are consolidated by using the full consolidation method as of September 30, 2025. Dost Global Danışmanlık A.Ş. (“Dost Global”), is a 100% subsidiary to reach a more efficient organizational structure within the scope of the foreign investments of the Company was established January 8, 2020. Dost Global’s financial statements are consolidated by using the full consolidation method as of September 30, 2025. Es Global Gıda Sanayi ve Ticaret A.Ş, (“Es Global”) which is a 100% subsidiary to produce especially some of biscuits and confectionery products sold in the stores of the Company was established on September 27, 2021. Es Global’s financial statements are consolidated by using the full consolidation method as of September 30, 2025 . In order to improve the sustainability of the Company's supply in the fresh fruit and vegetable category, the acquisition of Bircan Fide Tohum Tarım Nakliyecilik Sanayi ve Ticaret Anonim Şirketi, (“Bircan Fide”) which is a 100% subsidiary, was realized as of October 14, 2021. The financial results of Bircan Fide are consolidated in accordance with the full consolidation method in the financial statements dated September 30, 2025. İdeal Standart Mümessillik San. ve Tic. A.Ş. (“İdeal Standart”) which is a 100% subsidiary of the Company for the production of toothbrush products sold in the Company's stores. ( “Ideal Standard”) acquired all the shares of its subsidiary on January 30, 2012. Ideal Standard's financial r esults have been consolidated in the financial statements as of September 30, 2025 by using to the full consolidation method. Desto Atık Yönetimi A.Ş. (“Desto”), a 100% subsidiary of the Company, was established on July 9, 2024 in order to achieve the sustainability targets of the Company and to manage waste management activities more efficiently. Desto’s financial results have been consolidated in the financial statements as of September 30, 2025 by using to the full consolidation method. The partial demerger of our wholly owned subsidiary, FİLE Market Mağazacılık Anonim Şirketi (“File”), which was resolved by the Board of Directors on April 8, 2025, through a subsidiary model, was registered on July 1, 2025. As of July 25, 2025, the Company’s sole share holding in File has ended; however, BİM continues to maintain full control through its 99% shareholding in the company. File’s financial results have been consolidated in the financial statements as of September 30, 2025 by using to the full consolidation method. Hereinafter, the Company and its consolidated subsidiaries together will be referred to as “the Group”.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 7 1. Organization and nature of operations of the Group (Cont’d) Approval of financial statements: Shareholder structure of the Group is stated in Note 17. Board of Directors has approved the financial statements and delegated authority for publishing it on November 10, 2025. Although there is no such intention, the General Assembly and certain regulatory bodies have the power to amend the financial statements after issues. For the periods ended September 30, 2025 and 2024 , number of employees in accordance with their categories is shown below: September 30, 2025 September 30, 2024 Office personnel 4.708 4.575 Warehouse personnel 11.282 9.198 Store personnel 84.389 80.909 Total 100.379 94.682 As of September 30, 2025 , the Group operates in 14.231 stores (December 31, 2024 :13.583). 2. Basis of preparation of financial statements 2.1 Basis of Presentation Applied Financial Reporting Standards The accompanying consolidated financial statements are prepared in accordance with the Communiqué Serial II, No:14.1, “Principles of Financial Reporting in Capital Markets” (“ the Communiqué”) published in the Official Gazette numbered 28676 on June 13, 2013. According to the article 5 of the Communiqué, consolidated financial statements are prepared in accordance with Turkish Financial Reporting Standards (“TFRS”) and its adde ndum and interpretations (“IFRIC”) issued by Public Oversight Accounting and Auditing Standards Authority (“POA”) Turkish Accounting Standards Boards. The consolidated financial statements of the Group are prepared as per the CMB announcement of July 3, 2024 relating to financial statements presentations. The Company and its subsidiaries operating in Turkey, maintains its accounting records and prepares its statutory financial statements in accordance with the Turkish Commercial Code (the “TCC”), tax legislation and the uniform chart of accounts issued by the Ministry of Finance. These consolidated financial statements are based on the statutory records, with the required adjustments and reclassifications including those related to changes in purchasing power reflected for the purpose of fair presentation in accordance with the TFRS. Financial Reporting in Hyperinflationary Economies Entities applying TFRS 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 September 30, 2025, with the announcements made by the Public Oversight Accounting and Auditing Standards Authority (POA) on November 23, 2023. TAS 29 is applied to the financial statements, including the consolidated financial statements, of any entity whose functional currency is the currency of a hyperinflationary economy.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 8 2. Basis of preparation of financial statements (Cont’d) 2.1 Basis of presentation (Cont’d) The accompanying financial statements are prepared on a historical cost basis, except for financial investments measured at fair value and investment properties measured at revalued amounts. Financial statements and corresponding figures for previous periods have been restated for the changes in the general purchasing power of Turkish lira and, as a result, are expressed in terms of purchasing power of Turkish lira as of September 30, 2025 as per TAS 29. On the application of TAS 29, the entity used the conversion coefficient derived from the Customer Price Indexes (CPI) published by Turkey Statistical Institute according to directions given by POA. The CPI for current and previous year periods and corresponding conversion factors since the time when the Turkish lira previously ceased to be considered currency of hyperinflationary economy, i.e., since January 1, 2005, were as follow: Year-end Index 2004 113,86 2005 122,65 2006 134,49 2007 145,77 2008 160,44 2009 170,91 2010 181,85 2011 200,85 2012 213,23 2013 229,01 2014 247,72 2015 269,54 2016 292,54 2017 327,41 2018 393,88 2019 440,50 2020 504,81 2021 686,95 2022 1.128,45 2023 1.859,38 2024 2.684,55 2025/9 3.367,22 Assets and liabilities were separated into those that were monetary and non –monetary, with non–monetary items were further divided into those measured on either a current or historical basis to perform the required restatement of financial statements under TAS 29. Monetary items (other than index -linked monetary items) and non-monetary items carried at amounts current at the end of the reporting period were not restated because they are already expressed in terms of measuring unit as of September 30, 2025. Non-monetary items which are not expressed in terms of measuring unit as of September 30, 2025 were restated by applying the conversion factors. The restated amount of a non-monetary item was reduced, in accordance with appropriate TFRS, in cases where it exceed s its recoverable amount or net realizable value. Components of shareholders’ equity in the statement of financial position and all items in the statement of profit or loss and other comprehensive income have also been restated by applying the conversion factors.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 9 2. Basis of preparation of financial statements (Cont’d) 2.1 Basis of presentation (Cont’d) Non-monetary items measured at historical cost that were acquired or assumed and components of shareholders’ equity that were contributed or arose before the time when the Turkish lira previously ceased to be considered currency of hyperinflationary economy, i.e before January 1, 2005, were restated by applying the change in the CPI from January 1, 2005 to September 30, 2025. The application of TAS 29 results in an adjustment for the loss of purchasing power of the Turkish lira presented in Net Monetary Position Gains / (Losses) item in the profit or loss section of the statement of profit or loss and comprehensive income. In a period of inflation, an entity holding an excess of monetary assets over monetary liabilities loses purchasing power and an entity with an excess of monetary liabilities over monetary assets gains purchasing power to the extent the assets and liabilities are not linked to a pr ice level. This gain or loss on the net monetary position is derived as the difference resulting from the restatement of non -monetary items, owners’ equity and items in the statement of profit or loss and other comprehensive income and the adjustment of in dex linked assets and liabilities. In addition, in the first reporting period in which TAS 29 is applied, the requirements of the Standard are applied as if the economy had always been hyperinflationary. Therefore, the statement of financial position at the beginning of the earliest comparative period, i.e as of January 1, 2022, was restated as the base of all subsequent reporting. Restated retained earnings/losses in the statement of financial position as of January 1, 2022 was derived as balancing figure in the restated statement of financial position. 2.2 New and Revised Turkish Accounting Standards The accounting policies adopted in preparation of the consolidated financial statements as of September 30, 2025 are consistent with those of the previ ous financial year, except for the adoption of new and amended TFRS and TFRS interpretations effective as of January 1, 2025 and thereafter. The effects of these standards and interpretations on the Group’s financial position and performance have been disclosed in the related paragraphs. i) The new standards, amendments and interpretations which are effective as of January 1, 202 5 are as follows: Amendments to TAS 21 - Lack of exchangeability In May 2024, POA issued amendments to TAS 21. The amendments specify how an entity should assess whether a currency is exchangeable and how it should determine a spot exchange rate when exchangeability is lacking. When an entity estimates a spot exchange rate because a currency is not exchangeable into another curre ncy, it discloses information that enables users of its financial statements to understand how the currency not being exchangeable into the other currency affects, or is expected to affect, the entity’s financial performance, financial position and cash flows. When applying the amendments, an entity cannot restate comparative information. The Group disclosed the impact of the amendments on financial position or performance of the Group.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 10 2. Basis of preparation of financial statements (Cont’d) 2.2. The new standards, amendments and interpretations (Cont’d) 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 consolidated financial statements are as follows. The Group will make the necessary changes if not indicated otherwise, which will be affecting the consolidated 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 In December 2017, POA postponed the effective date of this amendment indefinitely pending the outcome of i ts research project on the equity method of accounting. Early application of the amendments is still permitted. The Group will wait until the final amendment to assess the impacts of the changes. TFRS 17 - The new Standard for insurance contracts POA issued TFRS 17 in February 2019, a comprehensive new accounting standard for insurance contracts covering recognition and measurement, presentation and disclosure. TFRS 17 model combines a current balance sheet measurement of insurance contract liabili ties with the recognition of profit over the period that services are provided. The mandatory effective date of the Standard postponed to accounting periods beginning on or after January 1, 2026 with the announcement made by the POA. It will not have an impact on the financial position or performance of the Group. Amendments to TFRS 9 and TFRS 7 – Classification and measurement of financial instruments In August 2025, POA issued amendments to the classification and measurement of finan cial instruments (amendments to TFRS 9 and TFRS 7). The amendment clarifies that a financial liability is derecognised on the ‘settlement date’. It also introduces an accounting policy option to derecognise financial liabilities that are settled through an electronic payment system before settlement date if certain conditions are met. The amendment also clarified how to assess the contractual cash flow characteristics of financial assets that include environmental, social and governance (ESG)-linked features and other similar contingent features as well as the treatment of non- recourse assets and contractually linked instruments. Additional disclosures in TFRS 7 for financial assets and liabilities with contractual terms that reference a contingent event (including those that are ESG-linked), and equity instruments classified at fair value through other comprehensive income are added with the amendment. The amendment will be effective for annual periods beginning on or after 1 January 2026. Entities can early adopt the amendments that relate to the classification of financial assets plus the related disclosures and apply the other amendments later. The new requirements will be applied retrospectively with an adjustment to opening retained earnings. The Group is in the process of assessing the impact of the amendments on financial position or performance of the Group.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 11 2. Basis of preparation of financial statements (Cont’d) 2.2. The new standards, amendments and interpretations (Cont’d) Amendments to TFRS 9 and TFRS 7 - Contracts Referencing Nature-dependent Electricity In August 2025, POA issued Contracts Referencing Nature -dependent Electricity (Amendments to TFRS 9 and TFRS 7). The amendment clarifies the application of the “own use” requirements and permits hedge accounting if these contracts are used as hedging instruments. The amendment also adds new disclosure requirements to enable investors to understand the effect of these contracts on a company’s financial performance and cash flows. The amendment will be effective for annual periods beginning on or after 1 January 2026. Early adoption is permitted but will need to be disclosed. The clarifications regarding the ‘own use’ requirements must be applied retrospectively, but the guid ance permitting hedge accounting have to be applied prospectively to new hedging relationships designated on or after the date of initial application. The Group is in the process of assessing the impact of the amendments on financial position or performance of the the Group. TFRS 18 – The new Standard for Presentation and Disclosure in Financial Statements In May 2025, POA issued TFRS 18 which replaces TAS 1. TFRS 18 introduces new requirements on presentation within the statement of profit or loss, including specified totals and subtotals. TFRS 18 requires an entity to classify all income and expenses within its statement of profit or loss into one of five categories: operating; investing; financing; income taxes; and discontinued operations. It also req uires disclosure of management -defined performance measures and includes new requirements for aggregation and disaggregation of financial information based on the identified ‘roles’ of the primary financial statements and the notes. In addition, there are consequential amendments to other accounting standards, such as TAS 7, TAS 8 and TAS 34. TFRS 18 and the related amendments are effective for reporting periods beginning on or after 1 January 2027, but earlier application is permitted. TFRS 18 will be applied retrospectively. The Group is in the process of assessing the impact of the standard on financial position or performance of the Group. TFRS 19 – The new Standard for Subsidiaries without Public Accountability: Disclosures In August 2025, POA issued TFRS 19, which allows eligible entities to elect to apply reduced disclosure requirements while still applying the recognition, measurement and presentation requirements in other TFRS accounting standards. Unless otherwise specified, eligible entities tha t elect to apply TFRS 19 will not need to apply the disclosure requirements in other TFRS accounting standards. An entity that is a subsidiary, does not have public accountability and has a parent (either ultimate or intermediate) which prepares consolidat ed financial statements, available for public use, which comply with TFRS accounting standards may elect to apply TFRS 19. TFRS 19 is effective for reporting periods beginning on or after 1 January 2027 and earlier adoption is permitted. If an eligible entity chooses to apply the standard earlier, it is required to disclose that fact. An entity is required, during the first period (annual and interim) in which it applies the standard, to align the disclosures in the comparative period with the disclosures included in the current period under TFRS 19. The Group is in the process of assessing the impact of the amendments on financial position or performance of the the Group.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 12 2. Basis of preparation of financial statements (Cont’d) 2.2. The new standards, amendments and interpretations (Cont’d) Annual Improvements to IFRS Accounting Standards – Volume 11 In July 2024, the IASB issued Annual Improvements to IFRS Accounting Standards – Volume 11, amending the followings: - IFRS 1 First -time Ado ption of International Financial Reporting Standards – Hedge Accounting by a First-time Adopter: These amendments are intended to address potential confusion arising from an inconsistency between the wording in IFRS 1 and the requirements for hedge account ing in IFRS 9. - IFRS 7 Financial Instruments: Disclosures – Gain or Loss on Derecognition: The amendments update the language on unobservable inputs in the Standard and include a cross reference to IFRS 13. - IFRS 9 Financial Instruments – Lessee Derecognition of Lease Liabilities and Transaction Price: IFRS 9 has been amended to clarify that, when a lessee has determined that a lease liability has been extinguished in accordance with IFRS 9, the lessee is required to apply derecognition requirement of IFRS 9 and recognise any resulting gain or loss in profit or loss. IFRS 9 has been also amended to remove the reference to 'transaction price”. - IFRS 10 Consolidated Financial Statements – Determination of a 'De Facto Agent': The amendments are intended to remove the inconsistencies between IFRS 10 paragraphs. - IAS 7 Statement of Cash Flows – Cost Method: The amendments remove the term of “cost method” following the prior deletion of the definition of 'cost method'. The Group is in the process of assessing t he impact of the amendments on financial position or performance of the Group. 2.3. Statement of compliance to TAS The Group prepared its consolidated financial statements for the period ended September 30, 2025 in accordance with the framework of the Communiqué Serial: II and numbered 14.1 and its related announcements. The consolidated financial statements and its accompanying notes are presented in compliance with the format recommended by CMB, including the mandatory disclosures. 2.4. Presentation and functional currency The individual financial statements of each group entity are presented in the currency of the primary economic environment in which the entity operates (its functional currency). For the purpose of the consolidated financial statements, the results and financial position of each entity consolidated are expressed in Turkish Lira (“TRY”), which is the functional of the Company and the presentation currency of the Group. The functional currency of the Company’s subsidiary, BIM Maroc S.A., is Moroccan Dirham (“MAD”). In the consolidated financial statements, MAD amounts presented in the balance sheet for assets and liabilities are translated into Turkish Lira at the TRY which is the functional and reporting currency of the Company, 1 TRY = 0,2191 MAD and 1 TRY = 0,2187 MAD exchange rates respectively and in the conversion of the income statement, the average exchange rate occurred during the period, 1 TRY = 0,2428 MAD rate is taken as the basis. Differences that occur by the usage of closing and average exchange rates are followed under currency exchange differences classified under equity. The functional currency of the Company’s other subsidiary, BIM Stores LLC is Eg yptian Pound (“EGP”). In the consolidated financial statements, EGP amounts presented in the balance sheet for assets and liabilities are translated into Turkish Lira at the TRY which is the functional and reporting currency of the Company, 1 TRY = 1,1524 EGP and 1 TRY = 1,1527 EGP exchange rates respectively and in the conversion of the income statement, the average exchange rate occurred during the period, 1 TRY = 1,2911 EGP rate is taken as the basis. Differences that occur by the usage of closing and average exchange rates are followed under currency exchange differences classified under equity.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 13 2. Basis of preparation of financial statements (Cont’d) 2.5 Basis of consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiaries prepared for the period ended September 30, 2025. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if, and only if, the Group has: - Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee) - Exposure, or rights, to variable returns from its involvement with the investee - The ability to use its power over the investee to affect its returns Generally, there is a presumption that a majority of voting rights results in control. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including: - The contractual arrangement(s) with the other vote holders of the investee - Rights arising from other contractual arrangements - The Group's voting rights and potential voting rights The Group re -assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary b egins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Group gains control until the date the Group ceases to control the subsidiary. Profit or loss and each component of other comprehensive incomes are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with the Group's accounting poli cies. All intercompany assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation. A change in the ownership interest of a subsidiary, without a loss of con trol, is accounted for as an equity transaction. If the Group loses control over a subsidiary, it derecogni zes the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resultant gain or loss i s recognized in profit or loss. Any investment retained is recognized at fair value. i) Subsidiaries: Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are shown in the consolidated financial statements from the date of formation of the controlling power to the date of termination. ii) Non-controlling interest: For each business combination, the Group elects to measure any non-controlling interests in the acquiree either: - at fair value; or - at their proportionate share of the acquiree’s identifiable net assets, which are generally at fair value. Profit or loss and each component of other comprehensive income are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. iii) Partial share purchase and sale transactions with non-controlling interests Changes in the Group’s interest in a subsidiary that do not result in a loss of control are accounted for as transactions with owners in their capacity as owners. Accordingly, in the case of additional share purchases from and sales to non-controlling interests, the difference between the acquisition cost and the carrying amount of the net assets of the subsidiary in proportion to the acquired interest is recognized in equity. No adjustments are made to goodwill and no gain or loss is recognized in profit or loss.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 14 2. Basis of preparation of financial statements (Cont’d) 2.5 Basis of consolidation (Cont’d) iv) Eliminations: During the preparation of the carve-out consolidated financial statements, unrealized gains and losses arising from intra-group transactions between entities included in the carve -out consolidated financial statements, intra -group balances and intra-group transactions are eliminated. Gains and losses arising from the transactions between the associate and the parent company and the consolidated subsidiaries of the parent company and jointly controlled entities are offset against the parent company's interest in the associate. Unrealized losses are eliminated in the same manner as unrealized gains, unless there is evidence of impairment. 2.6 Comparatives and restatement of prior periods’ financial statements Intercompany balances and transactions between B IM and its subsidiaries, including unrealized intercompany profits and losses are eliminated. The consolidated financial statements are prepared using uniform accounting policies for similar transactions and other events in similar circumstances. The financial statements of the Group for the current period are prepared comparatively with the previous period in order to enable the determination of the financial situation and performance trends. Comparative information is reclassified in the current period in order to comply with the presentation of the financial statements. Offsetting Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liabilities simultaneously. Accounting estimates The preparation of consolidated financial statements in accordance with TAS require the Group management to make estimates and assumptions that affect certain reported assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported revenues and expenses during the reporting year. Actual results could differ from those estimates. Those estimates are reviewed periodically, and as adjustments become necessary, they are reported in income statement in the periods in which they become known. Significant estimates used in the preparation of these financial statements and the significant judgments with the most significant effect on amounts recognized in the financial statements are mainly related with accounting of employee te rmination benefits, provision for inventories, revaluation of land and buildings, assessment of economic useful lives of property, plant and equipment and intangibles , determination of the interest rates used to discount cashflows and the lease period used in the calculation of the right of use of assets and lease liabilities, provision for income taxes. 2.7 Changes in accounting policies The Group changes accounting policies when it is believed that the change will lead to better presentatio n of transactions and events in the financial statements. When the intentional change can affect the prior period results, the change is applied retrospectively as though it was already applied before. Accounting policy changes arising from the application of a new standard are applied considering the transition principles of the related standard, if any, retrospectively or forward. If no transition principle for the standard exists, the changes are applied retrospectively. 2.8 Summary of significant accounting policies Revenue recognition Revenue is recognized on accrual basis over the amount obtained or the current value of the amount to be obtained when the delivery is realized, the income can be reliably determined and the inflow of the economic benefits related with the transaction to the Group is reasonably assured. Revenue is recognized when customers obtain control of the goods. The cycle of control takes place at a certain time . Net sales represent the invoiced value of goods less any sales returns. Retail sales are done generally with cash or credit cards and the control is transferred to customers at the same time and revenue is recognized at the time of sale.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 15 2. Basis of preparation of financial statements (Cont’d) 2.8 Summary of significant accounting policies (Cont’d) Sales of Goods Revenue from sale of goods is recognized when all the following conditions are satisfied: - Identification of contracts with customers, - Definition of performance obligations in contracts, - Determination of transaction price in contracts, - Distribution of transaction fee to performance obligations, and - Revenue recognition. Financial income Profit shares income from participation banks are recognized in accrual basis. Dividend income Dividend income from investments is reflected in the consolidated financial statements when the shareholders are entitled to receive dividends. Cash and cash equivalents Cash and cash equivalents comprise cash on hand, cash in transit and demand deposits, and other short-term highly liquid investments which their maturities are three months or less from date of acquisition and that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value. Trade receivables Trade receivables comprise trade receivables, credit card receivables and other receivables with fixed or determinable payments and are not quoted in an active market; which have an average maturity of 17 days term (December 31, 2024 :17days) as of balance sheet date are measured at original invoice amount and if they have long term maturity, the imputing interest is netted off and the provision of doubtful receivable is deducted. Trade receivables, net of unearned financial income, are measured at amortized cost, using the effective interest rate method, less the unearned financial income. Short duration receivables with no stated interest rate and credit card receivables are measured at the original invoice. Estimate is made for the doubtful provision when the collection of the trace receivable is not probable. If the amount of the impairment subsequently decreases due to an event occurring after the write -down, the release of the provision is credited to other operating income. Group has preferred to apply “simplified approach” defined in IFRS 9 for the recognition of impairment losses on trade receivables, carried at amorti zed cost and that do not comprise of any significant finance component (those with maturity less than 12 months). In accordance wit h the simplified approach, Group measures the loss allowances regarding its trade receivables at an amount equal to “lifetime expected credit losses” except incurred credit losses in which trade receivables are already impaired for a specific reason. Inventories Inventories are valued at the obtained cost price or the lower net realizable value. Costs comprise purchase cost and, where applicable and those overheads that have been incurred in bringing the inventories to their present location and condition. Cost is determined using the first-in, first-out (FIFO) method. Rebates which generate from sales from ordinary operations are deducted from cost of inventories and associated with cost of sales. Net realizable value is the estimated selling price less estimated costs necessary to realize sale.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 16 2. Basis of preparation of financial statements (Cont’d) 2.8 Summary of significant accounting policies (Cont’d) Right-of-Use Assets and Lease Liabilities The Group has applied the TFRS-16 standard as of January 1, 2019. Group - lessee The Group’s leases are mainly consisting of retail stores , warehouse and vehicles. At inception of a contract, the Group shall assess whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset for a period of time, the Group shall assess whether, throughout the period of use, the customer has the followings: - The contract includes an identified asset (identification of an asset in a clear or implicitly specified form in the contract), - A capacity portion of an asset is an identified asset if it is physically distinct and represents substantially all of the capacity of the asset (the a sset is not an identified asset if the vendor has a fundamental right to substitute the asset for the duration of its use and obtain an economic benefit from it), - The Group has the right to obtain almost all of the economic benefits that will be derived from the use of the identified asset, - The right to direct the use of the identified asset. The Company has the right to direct the use of an identified asset throughout the period of use only if either. a) The Group has the right to direct how and for what purpose the asset is used throughout the period of use b) the relevant decisions about how and for what purpose the asset is used are predetermined . The Group recognizes right of use asset and lease liability at the start date of lease after evaluat ion of aforementioned criteria. Right of use asset At the commencement date, the Group shall measure the right -of-use asset at cost. The cost of the right -of-use asset shall comprise: a) the amount of the initial measurement of the lease liability, b) any lease payments made at or before the commencement date, less any lease incentives received c) any initial direct costs incurred by the Group d) an estimate of costs to be incurred by the Group in dismantling and removing the underlying asset, To apply a cost model, the Group shall measure the right-of-use asset at cost: a) less any accumulated depreciation and accumulated impairment losses and b) adjusted for any remeasurement of the lease liability.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 17 2. Basis of preparation of financial statements (Cont’d) 2.8 Summary of significant accounting policies (Cont’d) The Group shall apply the depreciation requirements in TAS 16 Property, Plant and Equipment in depreciating the right-of-use asset. The average useful lives of right-to-use assets are as follows: Duration (Year) Buildings 10 Vehicles 4 The Company shall apply TAS 36 Impairment of Assets to determine whether the right -of-use asset is impaired and to account for any impairment loss identified. Lease Liability At the commencement date, the Group shall measure the lease liability at the present value of the lease payments that are not paid at that date. The lease payments shall be discounted using the financing rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the lessee shall use the lessee’s incremental borrowing rate. At the commencement date, the lease payments include d in the measurement of the lease liability comprise the following payments for the right to use the underlying asset during the lease term that are not paid at the commencement date: a) fixed payments, less any lease incentives receivable b) variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date, c) payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease. After the commencement date, the Group shall measure the lease liability by: a) increasing the carrying amount to reflect interest on the lease liability, b) reducing the carrying amount to reflect the lease payment made; and c) remeasuring the carrying amount to reflect any reassessment or lease modifications, or to reflect revised in substance fixed lease payments. The Group reflects the remeasurement amount of the lease liability in its financial statements as an adjustment for the right-of-use asset. Extension and early termination options Lease contracts are made for average 10 annual periods. The lease liability is determined by considering the extension and early termination options in the contracts. Most of the extension and early termination options included in the contracts are composed of the options that are applicable by the Group. The Group determines the lease term by the extension of the lease, if such extension and early termination options are at the Group's discretion and the use of the options is reasonably certain. If there is a significant change in the circumstances, the evaluation is reviewed by the Group. Practical expedient The Group applied a single discount rate to a rental portfolio with similar features. Initial direct costs were not included in the measurement of the right to use at the date of initial application. If the contract includes options to extend and terminate the contract, the lease term is determined and the management's evaluations are used.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 18 2. Basis of preparation of financial statements (Cont’d) 2.8 Summary of significant accounting policies (Cont’d) Property, plant and equipment All property and equipment is initially recorded at cost. Land and building are subsequently measured at revalued amounts which are the fair value at the date of the revaluation, based on valuations by external independent valuers, less subsequent depreciation for building. Group revaluates the amounts of their lands and buildings every 3 years with the CMB -licensed valuation firm unless there is a change in the circumstances. All other property and equipment is stated at cost less accumulated depreciation and accumulated impairment loss. When assets are sold or retired, their cost and accumulated depreciation are eliminated from the re lated accounts and any gain or loss resulting from their disposal is included in the statement of income. On disposal of revalued assets, amounts in revaluation reserves relating to that asset are transferred to retained earnings. The initial cost of prop erty and equipment comprises its purchase price, including import duties and non - refundable purchase taxes and any directly attributable costs of bringing the asset ready for use. Expenditures incurred after the fixed assets have been put into operation, such as repairs and maintenance, are normally charged to income in the year the costs are incurred. If the asset recognition criteria are met, the expenditures are capitalized as an additional cost of property and equipment. Increases in the carrying amoun t arising on revaluation of property are initially credited to revaluation reserve in shareholders’ equity net of the related deferred tax. Decreases that offset previous increases of the same asset are charged in other comprehensive income and debited aga inst property and equipment revaluation reserve directly in equity; all other decreases are charged to the income statement. Depreciation is provided on cost or revalued amount of property and equipment except for land and construction in progress on a straight-line basis. The depreciation periods for property and equipment, which approximate the estimated economic useful lives of such assets, are as follows: Property, plant and equipment Duration (Years) Land improvements 5 Buildings 25 Leasehold improvements 10 Machinery and equipment 4 - 10 Vehicles 5 - 10 Furniture and fixtures 5 - 10 The economic useful life, the present value and the depreciation method are regularly reviewed for possible effects of changes in estimates, the method used and the period of depreciation are closely aligned with the economic benefits to be gained from the related asset and are recognized on a prospective basis. When a revaluated asset is sold, revaluation reserve account is transferred to retained earnings. Leasehold improvement The economic useful life for special costs is in line with the average duration of the lease contracts which is 10 years.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 19 2. Basis of preparation of financial statements (Cont’d) 2.8 Summary of significant accounting policies (Cont’d) Intangible assets Intangible assets which mainly comprise software rights are measured initially at cost. Intangible assets are recognized if it is probable that the future economic benefits that are attributable to the asset will flow to the enterprise; and the cost of the asset can be measured reliably. After initial recognition, intangible assets are measured at cost less accumulated amortization and any accumulated impairment losses. Intangible assets excluding development costs, created within the business are not capitalized and expenditure is charged against profits in the year in which it is incurred. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are amortized on a straight-line basis over the best estimate of their useful lives. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at each financial year-end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset is accounted for by changing the amortization period or method, as appropriate, and treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in the statement of income in the expense category consistent with the function of the intangible asset. The Group does not have any intangible assets with indefinite useful lives. The carrying values of intangible assets are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable. Goodwill Goodwill arises on the acquisition of subsidiaries and represents the excess of the consideration tran sferred, the amount of any non-controlling interests in the acquiree and the fair value of the identifiable net assets of the acquiree over the fair value at the acquisition date of the acquirer's previously held equity interest in the acquiree. If the total transferred consideration, recognized non-controlling interests and previously held interests measured at fair value are less than the fair value of the net assets of the acquired subsidiary, for example in a bargain purchase, the difference is recognized directly in the statement of profit or loss. Goodwill is allocated to cash-generating units for the purpose of impairment testing. The allocation is made to those cash-generating units or groups of cash-generating units that are expected to benefit from the business combination in which the goodwill arose. The units or groups of units are identified at the lowest level at which goodwill is monitored for internal management purposes, being the operating segments. A cash-generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently when there is indication that the unit may be impaired. The carrying amount of goodwill is compared with its recoverable value, which is the higher of its value in use and fair va lue less costs to sell. Any impairment loss for goodwill is recognized directly in profit or loss in the consolidated income statement and is not reversed in subsequent periods Impairment of non-financial assets The carrying values of assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Whenever the carrying amount of an asset exceeds its recoverable amount, an impairment loss is recognized in the statement of income. The recoverable amount of property and equipment is the greater of net selling price and value in use. Value in use is the present value of estimated future cash flows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life while the net selling price is the amount obtainable from the sale of an asset after cost of sales deducted. For the purposes of assessing impairment, assets are grouped by regions which are determined operationally (cash-generating units).
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 20 2. Basis of preparation of financial statements (Cont’d) 2.8 Summary of significant accounting policies (Cont’d) Financial assets Classification The group classifies its financial assets in the following categories: amortized cost , fair value through other comprehensive income, and fair value through profit or loss. The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of its financial assets at initial recognition. Financial assets measured at amortized cost Financial assets measured at amortized cost are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are included in current assets, except for maturities greater than 12 months after the end of the reporting period. These are classified as non -current assets. Trade receivables, cash and cash equivalents, lease certificate and investment funds are classified in this category. Financial assets measured at fair value through other comprehensive income Financial assets measured at fair value through other comprehensive income are non -derivatives that are e ither designated in this category or not classified in any of the other categories. They are included in non-current assets unless the investment matures or management intends to dispose of it within 12 months of the end of the reporting period. Financial assets measured at fair value through profit or loss Financial assets at fair value through profit or loss consist of “financial asset”, which are acquired to benefit from short-term price or other fluctuations in the market or which are a part of a port folio aiming to earn profit in the short run, irrespective of the reason of acquisition, and kept for trading purposes. Financial assets that are measured by their fair value and associated with the profit or loss statement are initially reflected on the c onsolidated statement of financial position with their costs including the transaction cost. These financial assets are valued based on their fair value after they are recogni zed. Realized or unrealized profit and losses are recogni zed under “income/expense from investing activities”. Recognition and measurement Regular purchases and sales of financial assets are recogni zed on the trade -date the date on which the group commits to purchase or sell the asset. Investments are initially recogni zed at fair value plus transaction costs for all financial assets not carried at fair value through profit or loss. Financial assets carried at fair value through profit or loss are initially recogni zed at fair value, and transaction costs are expensed in the income s tatement. Financial assets are derecognized when the rights to receive cash flows from the investments have expired or have been transferred and the group has transferred substantially all risks and rewards of ownership. Financial assets measured at fair value through other comprehensive income and financial assets at fair value through profit or loss are subsequently carried at fair value. Financial assets measured at amortized cost are subsequently carried at amortized cost using the effective interest method. Group may make an irrevocable election at initial recognition for particular investments in equity instruments that would otherwise not to be measured at fair value through profit or loss, to present subsequent changes in fair value in other compreh ensive income. In such cases, dividends from those investments are accounted for under consolidated statement of income.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 21 2. Basis of preparation of financial statements (Cont’d) 2.8 Summary of significant accounting policies (Cont’d) Offsetting financial instruments Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recogni zed amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. Recognition and derecognition of financial assets and liabilities The Group recognizes a financial asset or financial liability in its balance sheet when only when it becomes a party to the contractual provisions of the instrument. The Group derecognizes a financial asset or a portion of it only when the control on rights under the contract is discharged. The Group derecognizes a financial liability when the obligation under the liability is discharged or cancelled or expires. All the normal sales or purchase transactions of financial assets are recorded at the transaction date that the Group guaranteed to purchase or sell the financial asset. These transactions generally require the transfer of financial asset in the period specified by the general conditions and the procedures in the market. All regular way financial asset purchase and sales are recognized at the date of the transaction, the date the Group committed to purchase or sell. Impairment of financial assets The Group assesses at each balance sheet date whether a financial asset is impaired. Financial assets measured at amortized cost If there is objective evidence that an impairment loss on assets carried at amortized cost has been incurred, the amount of the loss is measured as the difference between the asset’s carrying amount and the present value of estimated future cash flows (excluding future expected credit losses that have not been incurred) discounted at the financial asset’s original effective interest rate. The carrying amount of the asset is reduced through use of an allowance account. The amount of the loss is recognized in the consolidated statement of income. If, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously recognized impairment loss is reversed, to the extent that the carrying value of the asset does not exceed its amortized cost at the reversal date. Provision for impairment is provided when there is an objective evidence of uncollectibility of t rade receivables. Reserve is provided for the overdue uncollectible receivables. Also portfolio reserve is provided for the not due receivables based on certain criteria. The carrying amount of the receivable is reduced through use of an allowance account. Financial assets classified as financial assets at fair value through other comprehensive income, accumulated fair value adjustments shown in equity when sold or impaired are classified into retained earnings. Trade payables Trade payables which generally have an average of 55 days term ( December 31, 2024 : 54 days) are initially recorded at original invoice amount and carried at amortized cost less due date expense. Due date expense is accounted for under cost of sales. This amount is the fair value of consideration to be paid in the future for goods and services received, whether or not billed.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 22 2. Basis of preparation of financial statements (Cont’d) 2.8 Summary of significant accounting policies (Cont’d) Gift cards recognition The gift cards that the Group sells to customers are classified under deferred income. Revenue is recognized when these gift cards are used by the customers. Borrowing costs Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset shall be capitalized as part of the cost of that asset. Such borrowing costs are capitalized as part of the cost of the asset when it is probable that they will result in future economic benefits to the entity and the costs can be measured reliably. Other borrowing costs are recognized as an expense in the period in which they are incurred. Foreign currency transactions Transactions in foreign currencies during the period have been translated at the exchange rates prevailing at the dates of such transactions. Exchange rate differences arising on reporting monetary items at rates different from those at which they were initially recorded or on the settlement of monetary items or are recognized in the comprehensive income statement in the period in which they arise. Foreign currency conversion rates used by the Group for the related period ended are as follows: US Dollars/TRY (full) EUR /TRY (full) GBP/TRY (full) September 30, 2025 41,5068 48,7512 55,7010 December 31, 2024 35,2803 36,7362 44,2073 Earnings per share Earnings per share are determined by dividing net income by the weighted average number of shares that have been outstanding during the period concerned. In Turkey, companies can raise their share capital by distributing “Bonus Shares” to shareholders from retained earnings. In computing earnings per share, such “Bonus Share” distributions are assessed as issued shares. Accordingly, the retrospective effect for those share distributions is taken into consideration in determining the weighted-average number of shares outstanding used in this computation. Events after balance sheet date Post year/period-end events that provide additional information about the Group’s p osition at the balance sheet date (adjusting events), are reflected in the financial statements. Post year/period-end events that are not adjusting events are disclosed in the notes when material. Provisions, contingent assets and contingent liabilities i) Provisions Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows at a pre -tax rate that reflects current market assessments of the time value of mone y and, where appropriate, the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as financial liability.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 23 2. Basis of preparation of financial statements (Cont’d) 2.8 Summary of significant accounting policies (Cont’d) ii) Contingent assets and liabilities A contingent asset is not recognized in the financial statements but disclosed when an inflow of economic benefits is probable. Contingent liabilities are not recognized in the financial statements but they are disclosed only, unless the possibility of an outflow of resources embodying economic benefits is probable. Related parties a) A person or a close member of that person's family is related to a reporting entity i f that person: i) Has control or joint control over the reporting entity, ii) Has significant influence over the reporting entity, or, iii) Is a member of the key management personnel of the reporting entity or of a parent of the reporting entity. b) An entity is related to a reporting entity if any of the following conditions applies: i) The entity and the reporting entity are members of the same group, ii) One entity is an associate or joint venture of the other entity (or an associate or joint vent ure of a member of a group of which the other entity is a member), iii) Both entities are joint ventures of the same third party, iv) One entity is a joint venture of a third entity and the other entity is an associate of the third entity, v) The entity i s a post -employment benefit plan for the benefit of employees of either the reporting entity or an entity related to the reporting entity. If the reporting entity is itself such a plan, the sponsoring employers are also related to the reporting entity, vi) The entity is controlled or jointly controlled by a person identified in (a), vii) 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). Income taxes Current Income Taxes and Deferred Tax The tax expense for the period comprises current and deferred tax. Tax is recognized in the statement of income, except to the extent that it relates to items recognized directly in equity or other comprehensive income. In such case, the tax is recognized in shareholders’ equity or other comprehensive income. The current period tax on income is calculated for the Group’s subsidiaries, associates and joint ventures considering the tax laws that are applicable in the countries where they operate. Deferred tax liability or asset is recognized on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases which are used in the computati on of taxable profit. However, deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates and tax regulations that have been enacted or substantially enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. The main temporary differences are from the time differences between carrying amount of tangible assets and their tax base amounts, the available expense accruals that are subject to tax and tax allowances that are n ot utilized. Deferred tax liabilities are recognized for all taxable temporary differences, where deferred tax assets resulting from deductible temporary differences are recognized to the extent that it is probable that future taxable profit will be available against which the deductible temporary difference can be utilized. When the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority and there is a legally enforceable right to set off current tax assets against current tax liabilities, deferred tax assets and deferred tax liabilities are offset accordingly.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 24 2. Basis of preparation of financial statements (Cont’d) 2.8 Summary of significant accounting policies (Cont’d) Statement of Cash Flows The Group prepares statements of cash flows as an integral part of its of financial statements to enable financial statement analysis about the change in its net assets, financial structure and the ability to direct cash flow amounts and timing according to evolving conditions. Cash flows include those from operating activities, investing activities and financing activities. Cash flows from operating activities represent the cash flows generated from the Group’s activities. Cash flows related to investing activities represent the cash flows that are used in or provided from the investing activities of the Group (fixed investments and financial investments). Cash flows arising from financing activities represent the cash proceeds from the financing activities of the Group and the repayments of these funds. Employee Benefits a) Defined benefit plans: In accordance with existing social legislation in Turkey, the Company is required to make lump -sum termination indemnity payments to each employee who has completed over one year of service with the Company and whose employment is terminated due to retirem ent or for reasons other than resignation or misconduct. As detailed in Note 15, the employee benefit liability is provided for in accordance with TAS 19 “Employee Benefits” and is based on an independent actuarial study. Actuarial gains and losses that calculated by professional actuaries, are recognized in the actuarial gain/loss fund regarding employee termination benefits in the equity. Recognized gains and losses shall not be transferred to comprehensive statement of income in the following periods. Reserve for employee termination benefits is recognized to financial statements that calculated with the discount rate estimated by professional actuarial. b) Unused vacation Unused vacation rights accrued in the consolidated financial statements repre sents estimated total provision for potential liabilities related to employees' unused vacation days as of the balance sheet date. 3. Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision makers of the Group. The chief operating decision makers, who are responsible for allocation resources and assessing performance of the operating segments, have been identified as the senior management that makes strategic decisions. The senior management of the Group makes strategic decisions as a whole over the operations of the Group as the Group operates nearly in a single industry and operations inside and outside Turkey do not present an important portion in overall operations. Based on those reasons, there is a single reportable segment in accordance with the provisions in TFRS 8 and segment reporting is not applicable.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 25 4. Cash and cash equivalents September 30, 2025 December 31, 2024 Cash on hand 1.498.374 1.555.417 Banks 1.440.360 1.260.024 - Demand deposits 1.440.360 1.260.024 Cash in transit 643.413 715.535 Cash and cash equivalents 3.582.147 3.530.976 As of September 30, 2025 and December 31, 2024 there is no restricted cash. 5. Financial assets a) Short-term financial assets As of September 30, 2025 and December 31, 2024 Group’s short-term financial investments measured at fair value through profit and loss are detailed in the table below: September 30, 2025 December 31, 2024 Investment funds 15.448.975 6.803.984 15.448.975 6.803.984 b) Long-term financial assets Financial investments amounting to TRY 6.830.676 as of September 30, 2025 , are detailed below (December 31, 2024: TRY 6.830.676). i) Financial assets measured at fair value through other comprehensive income: The details of financial assets measured at fair value through other comprehensive income and fair values of the Group are as below: Name of subsidiary Share (%) September 30, 2025 Share (%) December 31, 2024 FLO Mağazacılık ve Pazarlama A.Ş. (*) 11,50 6.830.676 11,50 6.830.676 6.830.676 6.830.676 (*) As of December 31, 2024 the fair value of available-for-sale financial asset is calculated by using discounted cash flow analysis method with discount rate used as 22,50 and the terminal growth rate used as 10,80.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 26 6. Financial liabilities a) Lease Liabilities As of September 30, 2025 the Group has short -term interest-free financial debt from banks amounting to TRY 180.401 . These financial liabilities were closed on October 1, 2025 ( December 31, 2024 , : None ). b) Lease Liabilities Short-term portion of long-term liabilities September 30, 2025 December 31, 2024 Lease liabilities 11.048.044 10.217.918 11.048.044 10.217.918 Long-term lease liabilities September 30, 2025 December 31, 2024 Lease liabilities 37.623.577 36.160.911 37.623.577 36.160.911 Total borrowings 48.671.621 46.378.829 As of the report date, the maturity dates of the financial liabilities are as follows: September 30, 2025 December 31, 2024 Shorter than 3 months 3.244.564 2.774.562 3 - 12 month 7.803.480 7.443.356 More than 12 months 37.623.577 36.160.911 48.671.621 46.378.829 Fair values are determined by using average effective annual financing rates. As of September 30, 2025 and 2024 the movement table of the Group's liabilities arising from leasing transactions is as follows. September 30, 2025 September 30, 2024 Opening - January 1 46.378.829 40.452.634 Cash outflows from payments of lease liabilities (8.537.602) (7.039.385) Additions (Note 12) 15.548.718 19.835.250 Changes in financial expenses accrual (Note 23) 5.153.793 4.085.613 Exchange rate differences (123) 20.529 Change in accruals for termination of lease (962.361) (710.980) Foreign currency exchange differences 1.512.094 546.607 Monetary (gain) / loss (10.421.727) (12.454.525) Closing – September 30 48.671.621 44.735.743
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 27 7. Trade receivables and payables a) Trade receivables from third parties September 30, 2025 December 31, 2024 Credit card receivables 33.232.374 29.757.638 Other trade receivables 158.671 8.660 33.391.045 29.766.298 As of September 30, 2025, the average term of trade receivables is 17 days (December 31, 2024: 17 days). b) Trade payables due to third parties September 30, 2025 December 31, 2024 Trade payables 86.698.149 73.517.543 Rediscount expense (-) (2.751.157) (3.896.910) 83.946.992 69.620.633 As of September 30, 2025 , the average term of trade payables is 55 days (December 31, 2024 : 54 days). As of September 30, 2025, letters of guarantee, cheques and notes are amounting to TRY 6.350.136 and mortgages are amounting to TRY 72.637 (December 31, 2024 : letters of guarantee, cheques and notes amounting to TRY 6.060.768 and mortgages amounting to TRY 77.441). 8. Other receivables a) Other receivables from related parties September 30, 2025 December 31, 2024 Receivables from related parties 106.320 3.137 106.320 3.137 b) Other receivables from third parties September 30, 2025 December 31, 2024 Other receivables 845.836 916.663 Doubtful receivables 13.236 14.781 Less: Allowance for doubtful receivables (13.236) (14.781) 845.836 916.663 Current period movement of allowance for doubtful receivables is as follows: September 30, 2025 September 30, 2024 Balance at the beginning of the period – January 1 14.781 25.007 Collection in current year (2.001) 243 Monetary (gain) / loss 456 (9.523) Balance at the end of the period – September 30 13.236 15.727
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 28 9. Inventories September 30, 2025 December 31, 2024 Trade goods, net 55.198.762 46.252.594 Other 456.199 358.929 Allowance for impairment on inventory (-) (195.696) (94.793) 55.459.265 46.516.730 Cost of inventories amounting to TRY 413.417.208 (September 30, 2024 : TRY 405.365.128) was recognized under cost of sales. As of September 30, 2025 , an allowance for impairment amounting to TRY 195.696 (December 31, 2024: TRY 94.793) has been made for trade goods. The movement of impairment for inventories in September 30, 2024 is as follows: September 30, 2025 September 30, 2024 Balance at the beginning of the period - January 1 181.080 72.533 Reversal of impairment provision (181.080) (72.533) Allowance for impairment 195.696 41.372 Balance at the end of the period – September 30 195.696 41.372 10. Property, plant and equipment The movements of property, plant and equipment and the related accumulated depreciation for the periods ended September 30, 2025 and 2024 are as follows: January 1, 2025 Additions Disposals Transfers Currency exchange differences September 30, 2025 Cost or revalued amount Land 23.292.080 687.760 150.190 24.472 2.215 24.156.717 Land improvements 623.488 38.606 (33.078) 10.407 (40.554) 598.869 Buildings 35.416.165 445.771 (2.161) 1.070.159 (121.623) 36.808.311 Machinery and equipment 40.792.335 5.166.212 (538.907) 91.469 (308.299) 45.202.810 Vehicles 8.985.914 1.425.159 (127.888) 8.883 (2.170) 10.289.898 Furniture and fixtures 16.845.931 1.502.321 (200.443) 14.823 (1.984) 18.160.648 Leasehold improvements 35.186.010 2.858.122 (180.970) 224.847 41.914 38.129.923 Construction in progress 2.563.431 3.125.610 (70.391) (1.445.060) (129.510) 4.044.080 163.705.354 15.249.561 (1.003.648) - (560.011) 177.391.256 Less : Accumulated depreciation Land improvements (452.902) (47.360) 150 - 24.416 (475.696) Buildings - (2.074.733) 692 - 8.122 (2.065.919) Machinery and equipment (17.919.211) (2.982.701) 471.819 - 53.950 (20.376.143) Vehicles (5.032.506) (983.478) 87.967 - (2.118) (5.930.135) Furniture and fixtures (10.084.915) (1.671.710) 194.080 - (681) (11.563.226) easehold improvements (17.230.444) (1.999.104) 130.555 - (45.338) (19.144.331) (50.719.978) (9.759.086) 885.263 - 38.351 (59.555.450) Net book value 112.985.376 117.835.806
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 29 10. Property, plant and equipment (Cont’d) January 1, 2024 Additions Disposals Transfers Currency exchange differences September 30, 2024 Cost or revalued amount Land 18.896.266 1.003.333 - 32.620 (122.330) 19.809.889 Land improvements 435.208 154.233 (56) 1.094 - 590.479 Buildings 28.629.384 356.487 (3.231) 19.748 (57.525) 28.944.863 Machinery and equipment 33.100.953 6.851.592 (467.231) 657 (574.058) 38.911.913 Vehicles 7.078.373 1.777.585 (89.004) 23.726 (40.617) 8.750.063 Furniture and fixtures 14.075.749 2.544.508 (204.220) 11.878 (84.289) 16.343.626 Leasehold improvements 30.034.276 4.355.067 (173.617) 149.754 (542.467) 33.823.013 Construction in progress 2.491.455 922.027 (491.869) (239.477) 2.662 2.684.798 134.741.664 17.964.832 (1.429.228) - (1.418.624) 149.858.644 Less : Accumulated depreciation Land improvements (338.948) (96.081) 8 - - (435.021) Buildings (1.921.097) (1.660.306) 107 - 4.523 (3.576.773) Machinery and equipment (15.018.080) (2.584.535) 380.573 - 130.551 (17.091.491) Vehicles (4.065.079) (816.354) 68.522 - 7.838 (4.805.073) Furniture and fixtures (8.361.242) (1.553.651) 192.517 - 28.053 (9.694.323) Leasehold improvements (15.143.319) (1.996.118) 104.362 - 70.352 (16.964.723) (44.847.765) (8.707.045) 746.089 - 241.317 (52.567.404) Net book value 89.893.899 97.291.240 As of January 1, -September 30, 2025 depreciation expense amounting to TRY 8.714.982 (January 1, -September 30, 2024: TRY 7.326.386) were recognized in marketing expenses and TRY 690.946 (January 1, -September 30, 2024: TRY 895.499) in general and administrative expen ses and TRY 353.158 (January 1, -September 30, 2024: TRY 485.160) were recognized in cost of goods sold for the period September 30, 2025. The land and buildings were revalued and reflected to consolidated financial statements with their fair value. The book values of such assets were adjusted to the revalued amounts and the resulting surplus net of deferred income tax was credited to revaluation surplus in the equity. The revaluation surplus is not available for distribution to shareholders. Fair values of land and buildings As of September 30, 2025 , the Group carries its land and buildings over the revalued amounts in the consolidated financial statements. The revaluation surplus, as of December 31, 2024 net of applicable deferred income taxes was credited to other comprehensive income and is shown in ‘property and equipment revaluation reserve’ in shareholders equity. The fair value of non-financial assets by valuation method is calculated by inputs observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (Level 2). Valuation techniques used to derive level 2 fair values Sale or purchase costs or tax deductions are not taken into account in assumption of Level 2 fair value of land and buildings. The most common valuation techniques used is market comparable method, and for some land and buildings cost and income approach including discounted cash flow analysis are also used. Comparable va lue per square meter is determined based on assumptions such as bargaining share and adjustment for location in market comparable method.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 30 10. Property, plant and equipment (Cont’d) Market comparable method A property’s fair value is estimated based on comparison of sales and market data of similar or comparable properties. The revaluated property is compared with the sales of similar properties in the market or asked price and bid price. Discounted cash flow method Value assumption is conducted through the discount method by taking into account the data of expenditure and revenue belonging to the revaluated property. Discounting is related to revenue and value, which convertes the revenue amount into an estimate of value. Either the ratio of proceeds or/and discount should be taken into consideration. Within this approach, Direct Capitalization of Income and Cash Flow Analysis are applied predominantly. During the application of Direct Capitalization of Income, rental data belong to the similar real estate in the same region where the property based in has been used. Unless enough data for probable ratio of capitalization is attained, the method aforementioned has not been applied on. Cost approach Instead of purchase of property, the probability of construction of the same property or another property that provides the same benefit is taken into account. In practice the estimated value includes the amortization of old and less functional properties in case new one’s cost exceeds the potential price to be paid for revaluation of the property. It determines how transaction will be traded in the market and the approach and methods will be used in estimation of fair value of land and building. Sales prices of comparable land and buildings in close proximity are adjusted for differences in key attributes such as property size. The most significant input into the valuation approach is price per square meter. In the market comparable method, one of the methods applied during the valuation, room for negotiation has been considered and reconciliation has been done for the positive and negative features of property with respect to the precedents. Valuation processes of the group The Group’s finance department reviews the fair value of land and buildings for reporting purposes. On an annual basis, the Group engages external, independent and CMB licensed valuation firms. Revaluations are performed with sufficient regularity to ensure that the fair value of a revalued asset does not differ materially from its carrying amount as of balance sheet date. Group revaluates the amount of their lands and buildings every 3 years unless there is a change in the circumstances. The valuation of land and buildings was performed as of December 31, 2024 . The fair values of the land and buildings (administrative building, warehouses and stores) of the Group have been determined by a real estate appraisal company who has CMB license, holds a recognized and relevant professional qualification and has recent experience in the location and category of the land and buildings. Pledges and mortgages on assets As of September 30, 2025 and 2024, there is no pledge or mortgage on property and equipment of the Group.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 31 11. Intangible assets The movements of intangible assets and related accumulated amortization for the periods ended September 30, 2025 and 2024 are as follows: January 1, 2025 Additions Disposal Currency exchange differences September 30, 2025 Cost Right 1.328.203 129.185 (5.062) 19.235 1.471.561 1.328.203 129.185 (5.062) 19.235 1.471.561 Accumulated amortization Right (1.095.620) (72.403) 1.575 (5.929) (1.172.377) (1.095.620) (72.403) 1.575 (5.929) (1.172.377) Net book value 232.583 299.184 January 1, 2024 Additions Disposals Currency exchange differences September 30, 2024 Cost Right 1.276.987 47.714 (778) 5.962 1.329.885 Other intangible assets 1.444 1.483 - - 2.927 1.278.431 49.197 (778) 5.962 1.332.812 Accumulated amortization Right (987.407) (90.191) 1.154 (4.575) (1.081.019) Other intangible assets (1.196) (42) - - (1.238) (988.603) (90.233) 1.154 (4.575) (1.082.257) Net book value 289.828 250.555 As of January 1, -September 30, 2025, amortization expense amounting to TRY 66.930 (January 1, -September 30, 2024: TRY 77.746) has been charged in marketing expenses and TRY 5.306 (January 1, -September 30, 2024: TRY 9.503) in general and administrative expenses and TRY 167 (January 1, -September 30, 2024: TRY 2.984) is included in the cost of sales. The intangible assets are amortized over estimated useful life which is 5 years. The rights mainly consist of software licenses.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 32 12. Right of Use Assets The movements of right use of assets and the related accumulated deprecia tion for the period ended September 30, 2025 and 2024 as follows: January 1, 2025 Additions Disposals Currency exchange differences September 30, 2025 Building 119.279.965 15.477.544 (2.488.156) 371.995 132.641.348 Vehicles 1.487.431 71.174 (372.680) 8.903 1.194.828 120.767.396 15.548.718 (2.860.836) 380.898 133.836.176 Less: Accumulated amortization Building (39.305.033) (9.938.795) 728.295 (166.384) (48.681.917) Vehicles (1.188.692) (173.928) 342.784 (5.302) (1.025.138) (40.493.725) (10.112.723) 1.071.079 (171.686) (49.707.055) Net book value 80.273.671 84.129.121 January 1, 2024 Additions Disposals Currency exchange differences September 30, 2024 Building 100.343.460 19.421.668 (2.739.071) (1.713.227) 115.312.830 Vehicles 1.872.942 413.582 (622.113) (54.565) 1.609.846 102.216.402 19.835.250 (3.361.184) (1.767.792) 116.922.676 Less: Accumulated amortization Building (32.470.136) (6.679.072) 927.797 716.097 (37.505.314) Vehicles (1.376.625) (446.558) 549.114 37.404 (1.236.665) (33.846.761) (7.125.630) 1.476.911 753.501 (38.741.979) Net book value 68.369.641 78.180.697 For the period ended January 1, -September 30, 2025 , TRY 9.369.857 (January 1, -September 30, 2024 : TRY 6.349.531) of amortization expenses is recognized under selling and marketing expenses and TRY 742.866 (January 1, -September 30, 2024: TRY 776.099) is recognized under general administrative expenses.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 33 13. Provisions, contingent assets and liabilities a) Short term provisions for employee benefits Unused vacation amounting to TRY 815.115 is shown on the current provisions for employee benefits amounting in the Group account of short -term provisions for the period ended September 30, 2025 (December 31, 2024 : TRY 752.608). Current period movement of short-term unused vacation provision is as follows: January 1, - September 30, 2025 January 1, - September 30, 2024 Balance at the beginning of the period – January 1 584.501 192.095 Used in the period (584.501) (192.095) Provision of unused vacation 815.115 720.566 Monetary (gain) / loss (114.700) (134.151) Balance at the end of the period – September 30 700.415 586.415 b) Other short-term provisions September 30, 2025 December 31, 2024 Legal provisions (*) 470.726 439.300 Other 476.670 208.964 Total 947.396 648.264 (*) As of September 30, 2025 and December 31, 2024 the total amount of outstanding lawsuits file d against the Group, TRY 1.595.968 and TRY 1.357.059 (in historical terms), respectively. The Group recognized provisions amounting to TRY 470.726 and TRY 439.300 for the related periods, respectively. Current period movement of provision for lawsuits is as follows: January 1, - September 30, 2025 January 1, - September 30, 2024 Balance at the beginning of the period - January 1 439.300 485.565 Provisions required 15.766 140.953 Monetary (gain) / loss 15.660 (146.341) Balance at the end of the period – September 30 470.726 480.177
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 34 13. Provisions, contingent assets and liabilities (Cont’d) Letter of guarantees, mortgages and pledges given by the Group As of September 30, 2025 and December 31, 2024 breakdown of the guarantees, mortgage and pledges given by the Group is as follows: September 30, 2025 Total TRY equivalent TRY US Dollars EUR Moroccan Dirham A. Total amount of guarantees, pledges and mortgages given in the name of 1.617.298 1.606.885 250.870 - - Guarantee 1.617.298 1.606.885 250.870 - - Pledge - - - - - Mortgage - - - - - B. Total amount of guarantees, pledges and mortgages provided on behalf of the parties which are included in the scope of full consolidation - - - - - Guarantee - - - - - Pledge - - - - - Mortgage - - - - - C. Total amount of guarantees, pledges and mortgages provided on behalf of third parties to conduct business activities - - - - - D. Total amount of other guarantees, pledges and mortgages - - - - - i. On behalf of majority Shareholder - - - - - ii. On behalf of other group companies which are not covered in B and C above - - - - - iii. On behalf of third parties which are not covered by item C - - - - - Total 1.617.298 1.606.885 250.870 - -
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 35 13. Provisions, contingent assets and liabilities (Cont’d) December 31, 2024 Total TRY equivalent TRY US Dollars EUR Moroccan Dirham A. Total amount of guarantees, pledges and mortgages given in the name of 436.631 425.530 314.665 - - Guarantee 436.631 425.530 314.665 - - Pledge - - - - - Mortgage - - - - - B. Total amount of guarantees, pledges and mortgages provided on behalf of the parties which are included in the scope of full consolidation - - - - - Guarantee - - - - - Pledge - - - - - Mortgage - - - - - C. Total amount of guarantees, pledges and mortgages provided on behalf of third parties to conduct business activities - - - - - D. Total amount of other guarantees, pledges and mortgages - - - - - i. On behalf of majority Shareholder - - - - - ii. On behalf of other group companies which are not covered in B and C above - - - - - iii. On behalf of third parties which are not covered by item C - - - - - Total 436.631 425.530 314.665 - - Insurance coverage on assets As of September 30, 2025 and December 31, 2024 insurance coverage on assets of the Group is TRY 90.823.372 and TRY 111.457.721 respectively. 14. Prepaid Expenses and Deferred Income a) Short term prepaid expenses September 30, 2025 December 31, 2024 Order advances given to third parties for inventories 3.162.071 3.165.366 Prepaid service expenses 266.284 621.120 Other 208.064 34.330 3.636.419 3.820.816
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 36 14. Prepaid Expenses and Deferred Income (Cont’d) b) Long term prepaid expenses September 30, 2025 December 31, 2024 Advances given for property, plant and equipment 1.875.983 2.044.573 Other 190.017 137.360 2.066.000 2.181.933 c) Deferred Income September 30, 2025 December 31, 2024 Gift cards income 1.160.088 987.648 Other 14.323 19.228 1.174.411 1.006.876 15. Employee termination benefits September 30, 2025 December 31, 2024 Provision for employee termination benefits 2.003.637 2.096.938 2.003.637 2.096.938 The amount payable consists of one month’s salary limited to a maximum of full TRY 53.919,68 for each period of service as of September 30, 2025 and December 31, 2024 (December 31, 2024 : full TRY 41.828,42). The retirement pay provision ceiling is revised s emiannually, and full TRY 53.919,68 which is effective from September 30, 2025, is taken into consideration in the calculation of provision for employment termination benefits (effective from December 31, 2024 : full TRY 41.828,42). Liability of employment termination benefits is not subject to any funding as there is not any obligation. Provision is calculated by estimating the present value of the future probable obligation of the Group arising from the retirement of the employees. IAS 19 “Employee Benefits” requires actuarial valuation methods to be developed to estimate the Group’s obligation under the defined benefit plans. The following actuarial assumptions are us ed in the calculation of the total liability. Actuarial gain / (loss) is accounted in the statement of comprehensive income under “ Defined benefits plans revaluations fund gain / (loss)”. The principal assumption is that the maximum liability 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 anticipated effects of future inflation. Consequently, in the accompanying consolidated financial statements as of September 30, 2025 and 2024 the provision is calculated by estimating the present value of the future probable obligation of the Group arising from the retirement of the employees. Provisions at the balance sheet date were calculated by using real discount rate of 4,15% by assuming an annual inflation rate of 23% (December 31, 2024: 21%) and a discount rate of 27,15 % (December 31, 2024 : 25,05 %). The anticipated rate of termination benefits not paid as a result of voluntary leaves is also taken into consideration.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 37 15. Employee termination benefits (Cont’d) The following tables summarize the components of employee termination benefits recognized in the comprehensive statement of income and amounts recognized in the balance sheet: September 30, 2025 September 30, 2024 Current service cost (Note 20) 511.651 388.921 Interest cost of employee termination benefit (Note 23) 361.416 297.331 Total 873.067 686.252 Changes in the carrying value of defined benefit obligation are as follows: 16. Other assets and liabilities a) Other current assets September 30, 2025 December 31, 2024 VAT receivable 2.699.697 1.498.223 Other (24.352) 13.002 2.675.345 1.511.225 b) Other current liabilities September 30, 2025 December 31, 2024 Taxes and funds payables 3.170.656 1.896.874 Other 35.210 75.348 3.205.866 1.972.222 September 30, 2025 September 30, 2024 Balance at the beginning of the period -January 1 2.096.938 2.171.482 Current service cost 511.651 388.921 Interest cost of employee termination benefit 361.416 297.331 Payments made in the current period (521.037) (919.335) Monetary (gain) / loss (445.331) (555.308) Balance at the end of the period - September 30 2.003.637 1.383.091
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 38 17. Equity a) Share capital and capital reserves As of September 30, 2025 and December 31, 2024 the breakdown of shareholders and their ownership percentages in the Company are summarized as follows. September 30, 2025 December 31, 2024 Historical cost (%) Historical cost (%) Merkez Bereket Gıda Sanayi ve Ticaret A.Ş. 92.450 15,41 92.000 15,15 Naspak Gıda Sanayi ve Ticaret A.Ş. 70.000 11,67 70.000 11,53 Other 9.240 1,54 9.240 1,52 Publicly traded 428.310 71,39 435.960 71,80 - 600.000 100,00 607.200 100,00 Capital Adjustment Differences 7.328.422 7.416.364 The Company’s share capital is fully paid and consists of 600.000.000 (December 31, 2024:607.200.000) shares of full TRY 1 nominal value each. The cancellation of repurchased shares amounting to TRY 7.200.000 (full) through the "Capital Reduction Without Cash Outflow" method, thereby reducing our issued capital from TRY 607.200.000 (full) to TRY 600.000.000 (full), has been approved by the Genera l Assembly on 29 April 2025 and registered on 09 May 2 025. The cancellation of these shares held by our company will be carried out on 13 May 2025. Property, plant and equipment revaluation fund As of September 30, 2025 the Group has revaluation fund amounting TRY 31.634.132 (December 31, 2024: TRY 31.634.132 ) related to revaluation of land and buildings. The revaluation fund is not available for distribution to shareholders. b) Restricted reserves and retained earnings The legal reserves consist of first and second legal reserves, per the Turkish Commercial Code (TCC). The TCC stipulates that the first legal reserve is appropriated out of net statutory profits at the rate of 5% per annum, until the total reserve reache s 20% of the Company’s historical paid -in share capital. The second legal reserve is appropriated at the rate of 10% per annum of all cash distributions in excess of 5% of the historical paid -in share capital. Under TCC, the legal reserves are not availabl e for distribution unless they exceed 50% of the historical paid-in share capital but may be used to offset losses in the event that historical general reserve is exhausted. The statutory accumulated profits and statutory current year profit are available for distribution, subject to the reserve requirements referred to above and Turkish Capital Market Board (CMB) requirements related to profit distribution. Listed companies distribute dividend in accordance with the Communiqué No. II -19.1 issued by the CMB which is effective from February 1, 2014. Companies distribute dividends in accordance with their dividend payment policies settled and dividend payment decision taken in general assembly and also in conformity with relevant legislations. The communiqué does not constitute a minimum dividend rate. Companies distribute dividend in accordance with the method defined in their dividend policy or articles of incorporation. In addition, dividend can be distributed by fixed or variable instalments and advance dividend can be paid in accordance with profit on financial statements of the Company.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 39 17. Equity (cont’d) In accordance with the Turkish Commercial Code (TCC), unless the required reserves and the dividend for shareholders as determined in the article of association or in the dividend distribution policy of the company are set aside, no decision may be made to set aside other reserves, to transfer profits to the subsequent year or to distribute dividends to the holders of usufruct right certificates, to the members of the board of directors or to the employees, and no dividend can be distributed to these persons unless the determined dividend for shareholders is paid in cash. The Company's dividend distribution policy is in accordance with the Capital Markets Law No. 6362 dated December 30, 2012. Inflation adjustment to shareholders' equity and book value of extraordinary reserves can be used as an internal source in capital, dividend distribution in cash or net-off against prior years’ loss. In case the inflation adjustment to shareholders’ equity is used for dividend distribution in cash, the distribution is subject to corporate tax. According to the financial statements prepared in accordance with the Tax Procedure Law as of September 30, 2025 and December 31, 2024 the legal reserves, retained earnings, and net profits for the period are as follows: September 30, 2025 December 31, 2024 Legal reserves 16.205.084 18.864.059 Extraordinary reserves 25.628.094 22.993.165 Net profit for the period 18.490.938 15.951.866 60.324.116 57.809.090 As of September 30, 2025 net profit for the Company’s statutory books is TRY 18.490.938 (December 31, 2024: TRY 15.951.866) and net profit per consolidated financial statements in accordance with CMB accounting standards is TRY 11.366.974 (December 31, 2024 : TRY 23.346.140). Equity holders of the parent company of profit is TRY 11.252.907 (December 31, 2024: TRY 23.313.276) c) Treasury Shares The redemption of TRY 7.200.000 (full) shares from the 13.200.000 shares were repurchased for a total of TRY 5.017.460.000 (full )and constituted 2.1739% of the Company's capital, in accordance with the " Capital Reduction Without Cash Outflow " method, and the reducing our issued capital from TRY 607 .200.000 (full) to TRY 600.000.000 (full) , was approved at the General Assembly meeting held on April 29, 2025 and registered on May 09, 2025, and the cancellation of these shares took place on May 13, 2025. As of September 30, 2025, the remaining 6.200.000 shares constituted 1.0333% of the Company's capital. d) Dividends Paid At the Ordinary General Assembly meeting dated April 29, 2025, it was decided to distribute TRY 7.800.000.000 (full) cash dividends from the profits of 2024 to the shareholders and to make the payment in 3 installments on June 18, 2025, September 17, 2025 and December 17, 2025. The gross dividend amount per share is TRY 13 (full). Since the last installment payment was not made as of the report date, dividends of gross TRY 2.580.600.000 (full) were accounted for in other payables to related parties, excluding withholding tax.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 40 17. Equity (cont’d) Non – controlling interest Equity in a subsidiary that is not directly or indirectly associated with the parent is classified under “Non - controlling interests” in the consolidated financial statements. As of September 30, 2025 the relevant amount in the "Non -controlling interests" account in the consolidated statement of financial position is TRY 1.463.924. In addition, net profit or loss in a subsidiary that is not directly or indirectly attributed to a parent is classified un der “Non-controlling interests” in the consolidated stateme nt of profit or loss. As of September 30, 2025 the amount of profit attributable to minority interests in the consolidated statement of comprehensive gain is TRY 114.067 . 18. Sales and cost of sales a) Net Sales The Group’s net sales for the periods ended September 30, 2025 and December 31, 2024 are as follows: January 1, - September 30, 2025 July 1,- September 30, 2025 January 1, - September 30, 2024 July 1,- September 30, 2024 Sales 515.373.690 180.638.559 492.329.166 168.765.407 Sales returns (-) (2.606.591) (957.545) (2.527.670) (897.344) 512.767.099 179.681.014 489.801.496 167.868.063 b) Cost of sales January 1, - September 30, 2025 July 1,- September 30, 2025 January 1, - September 30, 2024 July 1,- September 30, 2024 Beginning inventory 46.252.594 53.812.954 49.183.400 54.042.327 Purchases 422.010.051 144.907.526 403.909.262 132.115.059 Depreciation and amortization expenses 353.325 125.303 488.144 179.213 Ending inventory (-) (55.198.762) (55.198.762) (48.215.678) (48.215.678) 413.417.208 143.647.021 405.365.128 138.120.921
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 41 19. Operational expenses a) Marketing expenses January 1, - September 30, 2025 July 1,- September 30, 2025 January 1, - September 30, 2024 July 1,- September 30, 2024 Personnel expenses 48.202.714 15.348.071 44.592.632 15.408.090 Depreciation and amortization expense 18.151.769 6.153.363 13.753.663 4.865.726 Electricity, water and communication expenses 3.676.108 1.455.535 3.702.588 1.526.990 Maintenance and repair expenses 1.751.099 653.681 1.450.187 547.674 Advertising expense 1.153.960 466.018 1.073.866 511.359 Truck fuel expense 1.104.957 417.184 1.207.125 409.317 Transportation Expenses 952.950 347.035 695.160 556.304 Rent expenses 883.731 357.784 590.058 219.219 Packaging expenses 510.237 176.240 524.384 176.984 Severance pay expenses 450.253 140.928 346.013 105.747 Tax and duty expenses 398.168 105.367 311.367 88.781 Stationery expense 275.193 96.128 314.246 99.854 Insurance expenses 257.419 86.135 259.527 100.425 Furniture and fixture expenses 193.515 66.278 281.060 119.138 IT Expenses 168.769 55.644 227.382 74.205 Cleaning expenses 159.757 60.114 153.441 55.136 Other 1.148.143 397.355 1.350.143 38.875 79.438.742 26.382.860 70.832.842 24.903.824 b) General and administrative expenses January 1, - September 30, 2025 July 1,- September 30, 2025 January 1, - September 30, 2024 July 1,- September 30, 2024 Personnel expenses 6.626.801 1.973.671 5.741.449 1.828.627 Depreciation and amortization expense 1.439.118 427.973 1.681.101 401.513 Tax and duty expenses 516.182 127.227 946.439 349.818 Money collection expenses 284.273 129.595 208.758 65.773 Vehicle expenses 266.405 92.092 249.773 91.355 Legal and consultancy expenses 257.755 72.649 231.019 63.153 Severance pay expenses 61.399 19.219 42.909 13.069 Electricity, water and communication expenses 58.725 15.637 44.518 10.725 Office supplies expenses 14.984 2.961 19.867 5.849 Other 944.650 262.219 805.164 216.037 10.470.292 3.123.243 9.970.997 3.045.919
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 42 20. Expenses by nature a) Depreciation and amortization expenses January 1, - September 30, 2025 July 1,- September 30, 2025 January 1, - September 30, 2024 July 1,- September 30, 2024 Marketing and selling expenses 18.151.769 6.153.363 13.753.663 4.865.726 General and administrative expenses 1.439.118 427.973 1.681.101 401.513 Cost of sales 353.325 125.303 488.144 179.213 19.944.212 6.706.639 15.922.908 5.446.452 b) Personnel expenses January 1, - September 30, 2025 July 1,- September 30, 2025 January 1, - September 30, 2024 July 1,- September 30, 2024 Wages and salaries 46.279.648 14.426.248 46.099.062 16.902.910 Social security premiums employer contribution 8.549.868 2.895.494 4.235.019 333.808 Provision for employee termination (Note 15) 511.651 160.147 388.921 106.050 55.341.167 17.481.889 50.723.002 17.342.768 21. Other operating income and expense a) Other operating income January 1, - September 30, 2025 July 1,- September 30, 2025 January 1, - September 30, 2024 July 1,- September 30, 2024 Gain on sale of scraps 423.577 134.353 214.290 75.488 Energy sales income 320.907 170.079 - - Other income from operations 497.490 - 741.857 160.153 1.241.974 304.432 956.147 235.641 b) Other operating expense January 1, - September 30, 2025 July 1,- September 30, 2025 January 1, - September 30, 2024 July 1,- September 30, 2024 Contract termination expenses (IFRS 16) (Note 6) 967.775 606.118 736.011 639.497 Donation and aid expenses 323.123 35.990 283.496 85.101 Provision expenses 252.074 16.808 140.973 27.480 Other operating expenses 386.252 1.805 135.856 83.699 1.929.224 660.721 1.296.336 835.777
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 43 22. Financial income January 1, - September 30, 2025 July 1,- September 30, 2025 January 1, - September 30, 2024 July 1,- September 30, 2024 Foreign exchange gains 51.775 14.225 128.873 32.271 Participation account income 18.655 4.668 6.227 757 70.430 18.893 135.100 33.028 23. Financial expenses January 1, - September 30, 2025 July 1,- September 30, 2025 January 1, - September 30, 2024 July 1,- September 30, 2024 Financial expenses arising from Lease liabilities (Note 6) 5.153.793 1.778.643 4.085.613 1.458.459 Interest cost related to provision for employee termination (Note 15) 361.416 113.122 297.331 81.076 Foreign exchange losses 163.676 54.849 94.050 15.764 Other financial expenses 179.008 50.831 117.076 45.936 5.857.893 1.997.445 4.594.070 1.601.235 24. Income and expense from investing activities a) Income from investing activities January 1, - September 30, 2025 July 1,- September 30, 2025 January 1, - September 30, 2024 July 1,- September 30, 2024 Income from financial investments (*) 4.211.788 1.221.076 2.958.561 1.445.577 Valuation gain from subsidiary acquisition - - 385.375 11.248 4.211.788 1.221.076 3.343.936 1.456.825 (*) The balance consists of income from various investment funds. b) Expenses from investment activities As of September 30, 2025 the loss on fixed asset sales is TRY 614.540 (As of September 30, 2024 the loss on fixed asset sales is TRY 56.973)
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 44 25. Tax assets and liabilities As of September 30, 2025 and December 31, 2024 provision for taxes of the Group is as follows: September 30, 2025 December 31, 2024 Provision for corporate and income tax 6.613.135 6.086.985 Current tax assets (Prepaid taxes) (3.904.482) (4.456.074) Corporate tax payable 2.708.653 1.630.911 Current period corporate and income tax provision 6.981.116 6.086.985 Adjustments related to prior period tax expense (-) - 2.697 Provision for corporate and income tax 6.981.116 6.089.682 The Company and its subsidiaries, affiliates and joint ventures established in Turkey and other countries within the scope of consolidation are subject to the applicable tax legislation and practices of the countries in which they operate. Companies calculate and pay temporary tax at a rate of 25% based on their quarterly financial profits and declare and pay it by the 17th day of the second month following the end of that period. Temporary tax paid during the year is credited against the corporate tax calculated for that year's corporate tax return to be submitted the following year. If there is any remaining amount of temporary tax paid after crediting, this amount can be refunded in cash or offset against any other financial debt owed to the state. In Morocco, as of September 30, 2025 the corporate tax rate is 31% ( December 31, 2024 : 31%) where the consolidated subsidiary of the Company, BIM Maroc S.A. operates. Although retained earnings of BIM Maroc S.A. are the subject of a deduction that they are not carried forward for more than 5 years, a tax of %0, 25 is paid on sales. In Egypt, as of September 30, 2025 the corporate tax rate is 22.5% (December 31, 2024: 22.5%) where the consolidated subsidiary of the Company, BIM Stores LLC operates. Corporate tax losses can be carried forward for a maximum period of 5 years following the year in which the losses were incurred. The tax authorities can inspe ct tax returns and the related accounting records for a retrospective maximum period of five years 15% withholding tax rate applies to dividends distributed by resident corporations and resident real persons except for, those who are not liable to income and corporation tax, non-resident real persons, non-resident corporations. Dividend distribution by resident corporations to resident corporations is not subject to a withholding tax. Furthermore, in the event the profit is not distributed or included in capital, no withholding tax shall be applicable. In addition, if the profit is not distributed or added to the capital, the income tax is not calculated.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 45 25. Tax assets and liabilities (Cont’d) As of September 30, 2025 and December 31, 2024 temporary differences based for deferred tax and deferred tax asset and liability calculated by using applicable tax rates are as follows: Balance sheet Comprehensive income September 30, 2025 December 31, 2024 January 1, - September 30, 2025 January 1, - September 30, 2024 Deferred tax liability Right-of-use asset 19.673.956 19.031.945 642.011 3.339.617 The effect of the revaluation of land and buildings 9.223.666 11.437.233 (2.213.567) (1.505.052) The effect of the revaluation of financial asset 993.923 1.003.911 (9.988) (102.020) Other adjustments 1.171.050 359.791 811.259 790.080 Deferred tax asset Lease liabilities (10.812.361) (10.554.537) (257.824) (836.697) Tangible and intangible assets 240.593 (4.558.804) 4.799.397 (155.672) Provision for employee termination benefit (500.908) (549.494) 48.586 255.157 Other adjustments (959.703) (1.107.421) 147.718 (263.951) Currency exchange difference 2.718 - 138.060 (15.306) Deferred tax 19.032.934 15.062.624 4.105.652 1.506.156 Deferred tax is presented in financial statements as follows: September 30, 2025 December 31, 2024 Deferred tax assets 220.188 158.914 Deferred tax liabilities (19.253.122) (15.221.538) Net deferred tax asset (19.032.934) (15.062.624) Movement of net deferred tax lia bility for the periods ended September 30, 2025 and December 31, 2024 are as follows: January 1, - September 30, 2025 January 1, -September 30, 2024 Balance at the beginning of the period - January 1 (15.062.624) (9.723.160) Deferred tax expense recognized in statement of profit or loss, (4.105.652) (1.506.156) Foreign currency exchange differences 135.342 (15.306) Balance at the end of the period – September 30 (19.032.934) (11.244.622)
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 46 25. Tax assets and liabilities (Cont’d) Tax reconciliation January 1, - September 30, 2025 January 1, - September 30, 2024 Profit before tax 22.453.742 24.847.531 Corporate tax provision calculated at effective tax rate of 25% (5.613.436) (6.211.883) Deductions and exemptions (3.004) (19.865) Fiscal year losses which is no deferred tax not created (*) - (4.197) Effect of tax rate differences of the consolidated subsidiary 27.699 23.521 Adjustments to prior period tax expense (-) - 2.866 Revaluation effect 736.105 (79.914) Monetary (gain) / loss (6.210.105) - Other (24.027) (55.935) (11.086.768) (6.345.407) (*) Dost Global Danışmanlık A. Ş. fiscal year loss to BIM Stores LLC (BIM Egypt), a subsidiary. Tax expense January 1, - September 30, 2025 January 1, - September 30, 2024 Current period tax expense (6.981.116) (4.839.251) Deferred tax expense (4.105.652) (1.506.156) Total tax expense (11.086.768) (6.345.407) 26. Earnings per share Basic earnings per share is calculated by dividing the net profit for the period by the weighted average number of ordinary shares outstanding during the period. Earnings per share for the period ended as of September 30, 2025 and 2024 is as follows. All shares of the Company are in same status. Earnings per share January 1, - September 30, 2025 January 1, - September 30, 2024 Average number of shares at the beginning of the period (Thousand) (*) 598.006 597.000 Net profit of the year 11.252.907 18.467.128 18,82 30,93 (*) When calculating earnings per share, bonus shares are counted as issued shares. Therefore, the weighted average number of shares used in the calculation of earnings per share has been obtained by retrospectively considering the bonus shares issued.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 47 27. Non – controlling interests Details of non-controlling interests as of September 30, 2025 and December 31, 2024 are as follows: September 30, 2025 December 31, 2024 Total assets 46.735.228 12.987.859 Total liabilities (26.319.824) (12.025.109) Net assets 20.415.404 962.750 Foreign currency conversion difference 862.885 790.130 Non – controlling interests 1.463.924 1.127.093 As of September 30, 2025 and December 31, 2024 the breakdown of total comprehensive income/expense for non-controlling interests is as follows: January 1, - September 30, 2025 January 1, - September 30, 2024 Revenue 38.780.681 18.878.530 Gross profit 9.313.079 3.486.578 Operating profit 2.136.380 251.993 Net income for the period 1.739.641 99.990 Net profit for the period of non-controlling interests 114.067 34.996 Other comprehensive income from non-controlling interests 222.764 (45.303) Total comprehensive income of non-controlling interests 336.831 (10.307) 28. Related party disclosures a) Payables related to goods and services received Due to related parties balances as of September 30, 2025 and December 31, 2024 are as follows: Payables related to goods and services received: Related parties September 30, 2025 December 31, 2024 Başak Gıda Dağıtım ve Pazarlama A.Ş. (Başak) (1) (*) 2.163.249 2.073.663 Reka Bitkisel Yağlar Sanayi ve Ticaret A.Ş. (Reka) (1) (*) 961.700 541.837 Aktül Kağıt Üretim Pazarlama Anonim Şirketi (1) (*) 894.253 728.446 Sena Muhtelif Ürün Paketleme Gıda Sanayi ve Tic. Ltd. Şti.(Sena) (2) (*) 683.450 710.190 Hedef Tüketim Ürünleri San. ve Dış Tic. A.Ş. (Hedef) (1) (*) 530.464 517.738 Turkuvaz Plastik ve Tem. Ürün. Tic. A.Ş. (Turkuvaz) (1) 333.927 355.017 Gönenli Süt Gıda Sanayi Tic. A.Ş. (Gönenli) (1) (**) 285.537 981.613 Apak Pazarlama ve Gıda Sanayi Tic. Ltd. Şti. (Apak) (1) 248.115 276.025 Ahenk Helva Şekerleme İm. İth. İhr. San. ve Tic. A.Ş. (Ahenk) (1) 140.013 135.099 MTB Kağıt ve Temizlik Ürünleri San. Ve Tic. A.Ş. (MTB) (1) 73.100 38.005 Avansas Ofis Malzemeleri Ticaret A.Ş. (Avansas) (1) 16.548 48.208 Odak Tedarik Zinciri ve Lojistik A.Ş. (1) (***) 16.287 - 6.346.643 6.405.841 (*) Trade payables to Başak Gıda are mainly from purchases of bread and other bakery products, trade payables to Reka are mainly from purchases of sunflower and olive oils to Aktül Kağıt are mainly from purchases of paper towels and other paper cleaning materials, trade payables to Sena Gıda are mainly from purchases of instant coffee, cocoa etc. and trade payables to Hedef Tüketim mainly arise from purchases of non-food products, trade payables and other dairy products. (**) Gönenli Süt has become a related party as of April 1, 2024. (***) Odak Lojistik has become a related party as of August 1, 2025. (1) Companies owned by shareholders of the Company. (2) Other related company
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 48 28. Related party disclosures (Cont’d) b) Related party transactions i) Purchases from related parties during the periods ended September 30, 2025 and December 31, 2024 are as follows: Related parties January 1, - September 30, 2025 January 1, - September 30, 2024 Başak (1) 12.720.084 11.600.510 Gönenli (1) (*) 9.443.225 6.444.695 Reka (1) 8.964.242 6.884.489 Hedef (1) 7.676.368 6.369.499 Turkuvaz (1) 3.385.364 3.491.550 Aktül (1) 2.809.667 2.788.569 Apak (1) 2.545.928 2.851.565 Sena (2) 2.509.769 2.269.231 Ahenk (1) 510.861 487.519 Avansas (1) 345.641 227.307 MTB Kağıt (1) 262.156 144.876 Odak (1) (**) 21.403 - 51.194.708 43.559.810 (1) Companies owned by shareholders of the Company. (2) Other related company (*) Gönenli Süt has become a related party as of April 1, 2024. (**) Including service purchases as of August 1, 2025. ii) For the periods ended September 30, 2025 and 2024 salaries, bonuses and compensations provided to board of directors and key management comprising of 256 and 236 personnel, respectively, are as follows: January 1, - September 30, 2025 January 1, - September 30, 2024 Short-term benefits to employees 1.471.000 1.150.602 Total benefits 1.471.000 1.150.602
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 49 29. Net monetary position gains/(losses) Explanations on net monetary position gains/(losses) September 30, 2025 September 30, 2024 Non-Monetary Items Financial statement items (3.095.013) 1.121.537 Inventories 821.014 162.112 Prepaid expenses (32.802) 340.254 Other Receivables (LT) (25.447) 24.666 Financial Investments (LT) 1.384.851 2.109.680 Tangible fixed assets 21.564.011 23.265.489 Intangible assets (4.036.201) (4.107.980) Right-of-use assets 9.936.591 14.132.411 Prepaid expenses (LT) (227.759) (355.395) Deferred tax assets (3.038.117) (2.593.488) Paid-in capital (1.538.756) (2.117.819) Treasury Shares (-) 1.118.444 1.108.808 Accumulated other comprehensive income and expenses not to be reclassified to profit /(loss) (5.674.803) (4.749.470) Accumulated other comprehensive income/(expenses) to be reclassified to profit / (loss) 483.377 314.915 Restricted reserves from profits (3.364.338) (3.736.362) Retained earnings (20.465.078) (22.676.284) Income Statement Items 18.985.363 21.605.661 Revenue (40.711.201) (48.263.472) Cost of sales (-) 41.638.678 54.088.570 General administrative expenses (-) 1.462.383 1.732.885 Marketing expenses (-) 14.001.174 12.473.655 Other income from operating activities (74.792) (104.532) Other expenses from operating activities 1.385.707 933.926 Income from investing activities (358.720) (293.587) Expenses from investing activities 632.162 117.659 Finance income (5.194) (11.503) Finance expenses (-) 457.977 436.695 Income tax expense 557.189 495.365 Net monetary position gains 15.890.350 22.727.198
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 50 30. Financial instruments and financial risk management The Group is exposed to a variety of financial risks, including the effects of changes in debt and equity market prices, foreign currency exchange rates and profit share rates. These risks are market risk (including foreign currency risk and profit share rate risk), credit risk and liquidity risk. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the financial performance of the Group. The Group’s principal financial instruments comprise cash and short-term interest free bank loans. The main purpose of using these financial instruments is to raise finance for the Group’s operations. The Group has ot her financial instruments such as trade receivables and payables which arise directly from its operations. The Group manages its capital through cash provided by its operations and review of the maturities of the trade payables. Price risk Price risk is a combination of foreign currency, profit share and market risk. The Group naturally manages its price risk by matching the same foreign currency denominated receivable and payables and assets and liabilities bearing profit share. The Group closely monitors its market risk by analyzing the market conditions and using appropriate valuation methods. Profit share rate risk The Group does not have any significant assets sensitive to dividend rate. The Group’s income and cash flows from operations are independent from profit share rate risk. The Group’s profit share rate risk mainly comprises of outstanding short-term borrowings in the prior period. The Group’s forthcoming loans in order to continue its operating activities are affected from forthcoming profit share ratios. Profit share rate position table According to IFRS 7 “Financial Assets”, the profit share rate position of the Group is as follows: Profit share position table September 30, 2025 December 31, 2024 Financial assets Fixed profit share bearing financial instruments 15.448.975 6.803.984 Lease certificate & Investment fund 15.448.975 6.803.984 Financial liabilities Financial assets Variable profit share bearing financial instruments - - Credit risk Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur a financial loss. Since the Group is engaged in the retail sector and transactions are mainly on a cash basis or has 1-month maturity credit card collections, the exposure to credit and price risk is minimal.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 51 30. Financial instruments and financial risk management (Cont’d) Credit risk table (Current period –September 30, 2025) Credit card receivables Other receivables Deposit in bank Financial assets Related party Other party Related party Other party Related party Other party Related party Other party Maximum credit risk exposures as of report date (A+B+C+D+E) - 33.391.045 106.320 1.006.585 - 1.440.360 6.830.676 15.448.975 - Maximum risk secured by guarantees etc. - - - - - - - - A. Net book value of financial assets neither overdue nor impaired - 33.391.045 106.320 1.006.585 - 1.440.360 6.830.676 15.448.975 B. Net book value of financial assets that are renegotiated, if not that will be accepted as past due or impaired - - - - - - - - C. Carrying value of financial assets that are past due but not impaired - - - - - - - - - The part under guarantee with collateral etc. - - - - - - - - D. Net book value of impaired assets - - - - - - - - - Past due (gross carrying amount) - - - 13.236 - - - - - Impairment - - - (13.236) - - - - - The part of net value under guarantee with collateral etc. - - - - - - - - - Not past due (gross carrying amount) - - - - - - - - - Impairment - - - - - - - - E. Off-balance sheet items with credit risk - - - - - - - -
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025 unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 52 30. Financial instruments and financial risk management (Cont’d) Credit risk table (Previous period -December 31, 2024) Credit card receivables Other receivables Deposit in bank Financial assets Related party Other party Related party Other party Related party Other party Related party Other party Maximum credit risk exposures as of report date (A+B+C+D+E) - 29.766.298 3.137 1.167.831 - 1.260.024 6.830.676 6.803.984 - Maximum risk secured by guarantees etc. - - - - - - - - A. Net book value of financial assets neither overdue nor impaired - 29.766.298 3.137 1.167.831 - 1.260.024 6.830.676 6.803.984 B. Net book value of financial assets that are renegotiated, if not that will be accepted as past due or impaired - - - - - - - - C. Carrying value of financial assets that are past due but not impaired - - - - - - - - - The part under guarantee with collateral etc. - - - - - - - - D. Net book value of impaired assets - - - - - - - - - Past due (gross carrying amount) - - - 14.781 - - - - - Impairment - - - (14.781) - - - - - The part of net value under guarantee with collateral etc. - - - - - - - - - Not past due (gross carrying amount) - - - - - - - - - Impairment - - - - - - - - E. Off-balance sheet items with credit risk - - - - - - - -
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025, unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 53 30. Financial instruments and financial risk management (Cont’d) There is an insignificant amount of foreign currency denominated assets and liabilities so the Company does not use derivative financial instruments or future contracts to reduce the risk of foreign currency. Foreign currency position As of September 30, 2025 and December 31, 2024 the Group’s foreign currency position is as follows: September 30, 2025 December 31, 2024 TRY TRY Equivalent Full US Dollars Full EUR Full GBP Equivalent Full US Dollars Full EUR Full GBP 1. Trade receivables 93.869 2.261.535 - - 107.854 2.313.564 118.822 - 2a. Monetary financial assets (including cash, banks accounts) 418.311 8.759.266 1.122.889 - 47.479 949.458 118.571 - 2b. Non-monetary financial assets - - - - - - - - 3. Other - - - - - - - - 4. Current assets (1+2+3) 512.180 11.020.801 1.122.889 - 155.333 3.263.022 237.393 - 5. Trade receivables - - - - - - - - 6a. Monetary financial assets - - - - - - - - 6b. Non-monetary financial assets - - - - - - - - 7. Other - - - - - - - - 8. Current assets (5+6+7) - - - - - - - - 9. Total assets (4+8) 512.180 11.020.801 1.122.889 - 155.333 3.263.022 237.393 - 10. Trade payables - - - - - - - - 11. Financial liabilities 20.433 - 419.131 - 43.192 - 937.372 - 12a. Monetary other liabilities - - - - - - - - 12b. Non-monetary other liabilities - - - - - - - - 13. Current liabilities (10+11+12) 20.433 - 419.131 - 43.192 - 937.372 - 14. Trade payables 6.721 89.142 61.970 - 11.921 151.751 112.951 - 15. Financial liabilities 71.701 - 1.470.753 - 147.974 - 3.211.391 - 16a. Monetary other liabilities - - - - - - - - 16b. Non-monetary other liabilities - - - - - - - - 17. Non-current liabilities (14+15+16) 78.422 89.142 1.532.723 - 159.895 151.751 3.324.342 - 18. Total liabilities (13+17) 98.855 89.142 1.951.854 - 203.087 151.751 4.261.714 - 19. Net asset/(liability) position of off-balance sheet derivative instruments (19a-19b) - - - - - - - - 19a. Hedged total assets amount - - - - - - - - 19b. Hedged total liabilities amount - - - - - - - - 20. Net foreign currency asset/(liability) position (9-18+19) 413.325 10.931.659 (828.965) - (47.754) 3.111.271 (4.024.321) - 21. Net foreign currency asset/(liability) position of monetary items (IFRS 7.b23) (=1+2a+5+6a-10-11-12a-14-15-16a) 413.325 10.931.659 (828.965) - (47.754) 3.111.271 (4.024.321) - 22. Total fair value of financial instruments used for foreign currency hedging - - - - - - - - 23. Export - - - - - - - - 24. Import - - - - - - - -
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025, unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 54 30. Financial instruments and financial risk management (Cont’d) Exchange rate risk The following table demonstrates the sensitivity to a possible change in the US Dollar , Euro and GBP exchange rates, with all other variables held constant, of the Group’s profit before tax as of September 30, 2025 and December 31, 2024. September 30, 2025 Exchange rate sensitivity analysis table Current Period Profit/(Loss) Equity Foreign currency appreciation Foreign currency depreciation Foreign currency appreciation Foreign currency Depreciation Change of US Dollars against TRY by 10%: 1- US Dollars net asset/(liability) 45.374 (45.374) - - 2- Protected part from US Dollars risk(-) - - - - 3- US Dollars net effect (1+2) 45.374 (45.374) - - Change of EUR against TRY by 10%: 4- EUR net asset/(liability) (4.041) 4.041 - - 5- Protected part from EUR risk(-) - - - - 6- EUR net effect (4+5) (4.041) 4.041 - - Change of GBP against TRY by 10%: 7- GBP net asset/(liability) - - - - 8- Protected part from GBP risk(-) - - - - 9- GBP net effect (7+8) - - - - Total (3+6+9) 41.333 (41.333) - -
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025, unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 55 30. Financial instruments and financial risk management (Cont’d) December 31, 2024 Exchange rate sensitivity analysis table Prior Period Profit/(Loss) Equity Foreign currency appreciation Foreign currency depreciation Foreign currency appreciation Foreign currency Depreciation Change of US Dollars against TRY by 10%: 1- US Dollars net asset/(liability) 13.768 (13.768) - - 2- Protected part from US Dollars risk(-) - - - - 3- US Dollars net effect (1+2) 13.768 (13.768) - - Change of EUR against TRY by 10%: 4- EUR net asset/(liability) (18.543) 18.543 - - 5- Protected part from EUR risk(-) - - - - 6- EUR net effect (4+5) (18.543) 18.543 - - Change of GBP against TRY by 10%: 7- GBP net asset/(liability) - - - - 8- Protected part from GBP risk(-) - - - - 9- GBP net effect (7+8) - - - - Total (3+6+9) (4.775) 4.775 - - Liquidity risk Prudent liquidity risk management includes maintaining sufficient cash and marketable securities, the availability of funding from an adequate amount of committed credit facilities and the ability to close out market positions. The ability to fund existing and prospective debt requirements is managed by maintaining the availability of adequate committed funding lines from high quality lenders.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025, unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 56 30. Financial instruments and financial risk management (Cont’d) As of September 30, 2025 and December 31, 2024 maturities of undiscounted trade payables and financial liabilities of the Group are as follows: September 30, 2025 Contractual terms Carrying value Total cash outflow Less than 3 months 3 -12 months More than 1 year Non-derivative financial liabilities Trade payables 83.946.992 86.698.149 86.698.149 - - Due to related parties 6.346.643 6.566.778 6.566.778 - - Contractual lease liabilities 48.671.621 74.052.355 2.177.447 6.552.020 65.322.888 December 31, 2024 Contractual terms Carrying value Total cash outflow Less than 3 months 3 -12 months More than 1 year Non-derivative financial liabilities Trade payables 69.620.633 73.517.543 73.517.543 - - Due to related parties 6.405.841 6.833.719 6.833.719 - - Contractual lease liabilities 46.378.829 92.883.564 2.731.163 8.218.172 81.934.229 Capital risk management The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. The Group monitors capital on the basis of the gearing ratio. Net debt is calculated as total liabilities less cash and cash equivalents. The gearing ratios at September 30, 2025 and December 31, 2024 are as follows: September 30, 2025 December 31, 2024 Total liabilities 173.203.171 147.141.596 Less: Cash and cash equivalents (3.582.147) (3.530.976) Net debt 169.621.024 143.610.620 Total equity 152.060.028 147.555.508 Total equity + net debt 321.681.052 291.166.128 Net debt/ (Total equity + net debt) (%) 53 49
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025, unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 57 31. Financial instruments (Fair value disclosures and disclosures in the frame of hedge accounting) Fair value estimation The table below analyses financial instruments carried at fair value, by valuation method. The different levels of fair value calculations have been defined as follows: - Quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1). - Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (Level 2). - Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (Level 3). The following table presents the group’s financial assets and liabilities that are measured at fair value at September 30, 2025 and December 31, 2024 . See Note 10 for disclosures of the land and buildings that are measured at fair value (Note 10). September 30, 2025 Level 1 Level 2 Level 3 Total Financial assets measured at fair value through other comprehensive income Financial Assets - 6.830.676 - 6.830.676 Financial assets measured at fair value through other comprehensive income Lease certificates, investment fund - 15.448.975 - 15.448.975 Total assets - 22.279.651 - 22.279.651 December 31, 2024 Level 1 Level 2 Level 3 Total Financial assets measured at fair value through other comprehensive income Financial Assets - 6.830.676 - 6.830.676 Financial assets measured at fair value through other comprehensive income Lease certificates, investment funds - 6.803.984 - 6.803.984 Total assets - 13.634.660 - 13.634.660 There were no transfers between levels during in year. (a) Financial instruments in level 2 The fair value of financial instruments that are not traded in an active market (for example, over -the-counter derivatives) is determined by using valuation techniques. These valua tion techniques maximize the use of observable market data where it is available and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2. If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.
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(Convenience translation of the consolidated financial statements originally issued in Turkish) BİM Birleşik Mağazalar A.Ş. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE INTERIM PERİOD JANUARY 1 – SEPTEMBER 30, 2025 (Amounts expressed in thousands of Turkish Lira (“TRY”) in terms of the purchasing power of the TL at September 30, 2025, unless otherwise stated and all other currencies are expressed in full amounts unless otherwise stated.) 58 31. Financial instruments (Fair value disclosures and disclosures in the frame of hedge accounting) (Cont’d) Specific valuation techniques used to value financial instruments include: - Quoted market prices or dealer quotes for similar instruments, - Other techniques, such as discounted cash flow analysis, are used to determine fair value for the remaining financial instruments. As of September 30, 2025 and December 31, 2024 except for the available for sale financial assets disclosed in Note 5, the fair values of certain financial assets carried at cost including cash and cash equivalents profit share accruals and other short -term financial assets are considered to approximate their respective carrying values due to their short-term nature. The carrying value of trade receivables along with the related allowance for unearned income and uncollectibility are estimated to be their fair values. - Financial liabilities Financial liabilities of which fair values approximate their carrying values: Fair values of trade payables and other monetary liabilities are considered to approximate their respective carrying values due to their short-term nature. The bank borrowings are stated at their amortized costs and transaction costs are included in the initial measurement of loans and borrowings. The fair value of bank borrowings with variable rates are considered to approximate their respective carrying values since the profit share rate applied to bank loans and borrowings are updated periodically by the lender to reflect active market price quotations. The carrying value of trade payables along with the related allowance for unrealized cost is estimated to be their fair values. 32. Fees for Services Received from Independent Audit Firm The Company's explanation regarding the fees for the services rendered by the independent audit firms, which was prepared by the POA pursuant to the Board Decision published in the Official Gazette on March 30, 2021, and the preparation principles were based on the letter of the POA dated August 19, 2021, is as follows: September 30, 2025 December 31, 2024 Legal and voluntary independent audit services (annual) 7.250 5.644 Fee for other assurance services 2.000 1.881 9.250 7.525 33. Subsequent events None.