MILLIRE ENG2024

1.7 Keys used in the distribution of investment income and operating expenses (personnel, administrative, research and development, marketing and selling, services rendered from third parties and other operating expenses) in the financial statements Procedures and principles related to keys used in the financial statements of the companies are determined in accordance with the January 4, 2008 dated and 2008/1 numbered “Communiqué Related to the Procedures and Principles for the Keys Used in the Financial Statements Being Prepared In Accordance With Insurance Accounting Plan” issued by Republic of Turkey Ministry of Treasury and Finance. In accordance with the above-mentioned Communiqué, insurance and reinsurance companies are allowed to transfer technical section operating expense to insurance section through methods determined by Republic of Turkey Ministry of Treasury and Finance or by the Company itself. In accordance with the approval of the Undersecretariat of Republic of Turkey Ministry of Treasury and Finance, dated March 6, 2008 and numbered 10222, known and exactly distinguishable operating expenses are distributed to related branches directly and services rendered from third parties and other operating expenses in accordance with the gross premiums written for the last three years. Income from the assets invested against non-life technical provisions is transferred to technical section from non-technical section; remaining income is transferred to the non-technical section. Income is distributed to the sub-branches in accordance with the percentage calculated by dividing “net cash flow” to the “total net cash flow”, net cash flow being net of reinsurer share and calculated by deducting net losses paid from net written premiums. Income from the assets invested against mathematical provisions is recorded under technical section; remaining income is transferred to the non-technical section. 1.8 Information on the financial statements as to whether they comprise an individual Company or a group of companies The accompanying financial statements comprise the unconsolidated financial information of the Company. and financial information of Singapore Branch as further discussed in note 2.2 - Consolidation, the Company has prepared consolidated financial statements As of December 31, 2024 separately. 1.9 Name or other identity information about the reporting entity and the changes in this information after previous reporting date Trade name of the Company : Millî Reasürans Türk Anonim Şirketi Registered address of the head office : İş Kuleleri, Kule 3, Kat: 20-21-22-24 34330 Levent, Beşiktaş,/İstanbul The web page of the Company: : www.millire.com 1.10 Subsequent events The unconsolidated financial statements prepared as of December 31, 2024 were approved by the Company’s Board of Directors on February 28, 2025. 2 Summary of significant accounting policies 2.1 Basis of preparation 2.1.1 Information about the principles and the specific accounting policies used in the preparation of the financial statements The Company prepares its unconsolidated financial statements in accordance with the Insurance Law and the regulations issued by the Insurance and Private Pension Regulation and Supervision Authority (“SEDDK”). Prior to the establishment of the SEDDK and the commencement of its regulatory activities in the insurance sector, the financial reporting regulations for the insurance industry were published by the Ministry of Treasury and Finance. In preparing the unconsolidated financial statements, the regulations regarding accounting and financial reporting in force under insurance legislation, along with the provisions of the Turkish Financial Reporting Standards (“TFRS”) for matters not addressed by the regulations, are followed. The “Insurance Accounting and Financial Reporting Legislation” serves as the basis for this. The principles for the preparation of the unconsolidated financial statements are regulated in accordance with the Insurance Chart of Accounts, which is included in the Insurance Chart of Accounts and Explanations Communiqué (Insurance Accounting System Communiqué No: 1) published by the Ministry of Treasury and Finance in the Official Gazette No. 25686, dated December 30, 2004, and the Sector Announcement regarding the Opening of New Account Codes in the Insurance Chart of Accounts No. 2011/14, dated December 27, 2011. The format and content of the prepared financial statements, along with their disclosures and notes, are determined in accordance with the Financial Statements Presentation Communiqué published in the Official Gazette No. 26851, dated April 18, 2008, and the Sector Announcement on the Presentation of Financial Statements with New Account Codes No. 2012/7, dated May 31, 2012. 112 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) Notes to the Unconsolidated Financial Statements As of December 31, 2024 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) MİLLİ RE