MILLIRE ENG2024

As of December 31, 2024, and 2023, movements of the insurance liabilities and related reinsurance assets are presented below: Unearned premiums reserve December 31, 2024 Gross Ceded Net Unearned premiums reserve at the beginning of the period 4.970.704.922 (60.065.549) 4.910.639.373 Written premiums during the period 14.720.529.934 (5.467.356.778) 9.253.173.156 Earned premiums during the period (13.746.711.889) 5.483.429.732 (8.263.282.157) Unearned premiums reserve at the end of the period 5.944.522.967 (43.992.595) 5.900.530.372 Unearned premiums reserve December 31, 2023 Gross Ceded Net Unearned premiums reserve at the beginning of the period 2.293.557.896 (49.314.693) 2.244.243.203 Written premiums during the period 9.924.594.569 (2.089.018.861) 7.835.575.708 Earned premiums during the period (7.247.447.543) 2.078.268.005 (5.169.179.538) Unearned premiums reserve at the end of the period 4.970.704.922 (60.065.549) 4.910.639.373 Outstanding claims reserve December 31, 2024 Gross Ceded Net Outstanding claims reserve at the beginning of the period 11.825.397.858 (5.807.404.091) 6.017.993.767 Claims reported during the period and changes in the estimations of outstanding claims reserve provided at the beginning of the period 11.432.821.842 (645.596.441) 10.787.225.401 Claims paid during the period (9.911.606.027) 4.680.124.568 (5.231.481.459) Discount effect (2.003.329.813) 42.905.349 (1.960.424.464) Outstanding claims reserve at the end of the period 11.343.283.860 (1.729.970.615) 9.613.313.245 Outstanding claims reserve December 31, 2023 Gross Ceded Net Outstanding claims reserve at the beginning of the period 4.174.390.046 (129.947.122) 4.044.442.924 Claims reported during the period and changes in the estimations of outstanding claims reserve provided at the beginning of the period 20.901.595.604 (13.312.351.131) 7.589.244.473 Claims paid during the period (12.315.558.993) 7.622.976.582 (4.692.582.411) Discount effect (935.028.799) 11.917.580 (923.111.219) Outstanding claims reserve at the end of the period 11.825.397.858 (5.807.404.091) 6.017.993.767 157 2024 Annual Report 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) GENERAL INFORMATION FINANCIAL RIGHTS PROVIDEDTOTHE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RISKS AND ASSESSMENT OF THE GOVERNING BODY ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES RESEARCH & DEVELOPMENT ACTIVITIES FINANCIAL STATUS FINANCIAL INFORMATION