BIRLESIM MUHENDISLIK_AR 2025

29. NATURE AND EXTENT OF RISKS ARISING FROM FINANCIAL INSTRUMENTS (Continued) b) Financial Risk Factors (Continued) b.3.1) Foreign Currency Risk Management (Continued) Foreign currency risk sensitivity The following table shows the effect on the Group’s profit or loss for the period and equity under the assumption that TL appreciates and depreciates by 10% against foreign currencies and all other variables remain constant. The Group uses a 10% rate when reporting to senior management and assessing possible changes for management’s foreign currency risk analysis. The Group’s foreign currency risk sensitivity tables as at 31 December 2025 and 31 December 2024 are as follows: 31 December 2025 Profit/Loss Appreciation of foreign currency Depreciation of foreign currency 1. US Dollar net asset/liability 17.340.235 (17.340.235) 2. Euro net asset/liability 25.076.652 (25.076.652) 5. GBP net asset/liability 5.464 (5.464) 3. Denar net asset/liability - - 4. Forint net asset/liability 7.235.129 (7.235.129) Total 49.657.480 (49.657.480) 31 December 2024 Profit/Loss Appreciation of foreign currency Depreciation of foreign currency 1. US Dollar net asset/liability 15.394.356 (15.394.356) 2. Euro net asset/liability 49.936.024 (49.936.024) 5. GBP net asset/liability 6.076 (6.076) 3. Denar net asset/liability (22.709.540) 22.709.540 4. Forint net asset/liability 119.361 (119.361) Total 42.746.277 (42.746.277) b.3.2) Interest Rate Risk Management The sensitivity analysis has been determined based on the interest rate risks to which borrowings were exposed at the reporting date. In the analysis of floating-rate liabilities, it has been assumed that the year-end balance existed throughout the year. Group management expects a fluctuation of 150 basis points in interest rates. The Group’s sensitivity to interest rates increased during the current period. The main reason for this is the increase in floating-rate borrowing instruments and the decrease in fixed-rate swap contracts. Interest Position Table Financial and Operational Liabilities 31 December 2025 31 December 2024 Fixed-rate Financial and Operational Borrowings 1.233.252.643 801.320.205 BİRLEŞİM MÜHENDİSLİK ANNUAL REPORT 2025 168 Birleşim Mühendislik Isıtma Soğutma Havalandırma Sanayi Ticaret Anonim Şirketi and its Subsidiaries (Amounts are expressed in Turkish Lira (“TRY”) in terms of the purchasing power of TRY as at 31 December 2025 unless otherwise stated.) Notes to the Consolidated Financial Statements as at 31 December 2025