MILLIRE ENG2024

Extraordinary reserves The movement of extraordinary reserves is as follows: December 31, 2024 December 31, 2023 Extraordinary reserves at the beginning of the period 1.448.635.062 1.055.949.776 Transfer from profit - - Accounted according to the equity method 3.070.211.699 392.685.286 Extraordinary reserves at the end of the period 4.518.846.761 1.448.635.062 Special funds (reserves) As of 31 December 2024, a fund has not been allocated to receive venture capital investment fund participation shares from the 2023 period profit in accordance with the provisions of Article 325/A of the Tax Procedure Law and Article 10 of the Corporate Tax Law. (31 December 2023: 33.809.969 TL). As of December 31, 2024, special funds accounted according to the equity method is amounting to TL 241.519.108 (December 31, 2023: 95.887.615). The movements of special funds are as follows: December 31, 2024 December 31, 2023 Special funds at the beginning of the period 184.820.637 117.937.781 Transfer from profit - 38.123.053 Accounted according to the equity method 145.631.493 28.759.803 Special funds at the end of the period 330.452.130 184.820.637 Other profit reserves According to revision on TAS 19, actuarial profit and losses that recognized in income statement in termination indemnity calculation before, is recognized in “Other Profit Reserves” account under equity in current period financial statements. The amount of TL (29.284.720) (December 31, 2023: TL (21.271.539) regarding actuarial calculation is presented in other profit reserves account, in calculation of termination indemnity As of December 31, 2024. December 31, 2024 December 31, 2023 Other profit reserves at the beginning of the period (16.950.092) 7.210.231 Actuarial gains/losses (8.013.181) (5.868.757) Accounted according to the equity method (14.682.339) (18.291.566) Other profit reserves at the end of the period (39.645.612) (16.950.092) Statutory reserves After the allocation of first legal reserves and first dividend to shareholders, reserve for natural disasters and catastrophe might be allocated, if deemed necessary, based on the suggestion of the Board of Directors and decision of the General Assembly. As of December 31, 2024, there are no funds allocated in this manner (December 31, 2023: None). As of December 31, 2024, the statutory reverses that are accounted according to the equity method amounting to TL 572.615.467 (December 31, 2023: TL 183.984.605). Foreign currency translation differences Foreign currency translation reserve comprises all foreign currency differences arising from the translation of the financial statements of foreign operations. As of December 31, 2024, foreign currency translation loss amounting to TL 358.446.598 (December 31, 2023: TL 254.517.245) stems from Singapore Branch whose functional currency is US Dollars. 154 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