MILLIRE ENG2024

I- TECHNICAL SECTION Note Audited Current Period January 1- December 31, 2024 Audited Prior Period January 1- December 31, 2023 A- Non-Life Technical Income 70.454.125.991 45.729.324.363 1- Earned Premiums (Net of Reinsurer Share) 49.529.783.955 28.392.871.726 1.1- Written Premiums (Net of Reinsurer Share) 17 61.308.740.773 40.455.954.458 1.1.1- Gross Written Premiums (+) 17 82.541.188.008 53.128.811.914 1.1.2- Ceded Premiums to Reinsurers (-) 10,17 (20.331.076.635) (12.093.216.858) 1.1.3- Ceded Premiums to SSI (-) 17 (901.370.600) (579.640.598) 1.2-Change in Unearned Premiums Reserve (Net of Reinsurers Shares and Reserves Carried Forward) (+/-) 17,29 (11.783.658.906) (11.119.270.311) 1.2.1- Unearned Premiums Reserve (-) 17 (13.375.403.717) (13.463.388.421) 1.2.2-Reinsurance Share of Unearned Premiums Reserve (+) 10,17 1.388.136.763 2.265.875.426 1.2.3-SSI of Unearned Premiums Reserve (+) 203.608.048 78.242.684 1.3-Changes in Unexpired Risks Reserve (Net of Reinsurer Share and Reserves Carried Forward)(+/-) 29 4.702.088 (943.812.421) 1.3.1- Unexpired Risks Reserve (-) 321.149.282 (1.338.373.044) 1.3.2-Reinsurance Share of Unexpired Risks Reserve (+) 10 (316.447.194) 394.560.623 2- Investment Income Transferred from Non-Technical Part 19.297.644.481 15.314.595.910 3- Other Technical Income (Net of Reinsurer Share) 47 928.784.722 1.579.663.527 3.1- Gross Other Technical Income (+) 651.534.878 1.243.705.991 3.2-Reinsurance Share of Other Technical Income (-) 277.249.844 335.957.536 4- Accrued Subrogation and Salvage Income (+) 697.912.833 442.193.200 B- Non-Life Technical Expense (-) (57.455.137.045) (38.193.711.230) 1- Total Claims (Net of Reinsurer Share) (38.977.210.976) (27.818.274.526) 1.1- Claims Paid (Net of Reinsurer Share) 17,29 (31.228.575.457) (19.675.614.152) 1.1.1- Gross Claims Paid (-) 17 (42.267.433.796) (38.072.650.228) 1.1.2- Reinsurance Share of Claims Paid (+) 10,17 11.038.858.339 18.397.036.076 1.2-Changes in Outstanding Claims Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 17,29 (7.748.635.519) (8.142.660.374) 1.2.1- Outstanding Claims Reserve (-) 17 (3.104.268.123) (19.701.690.226) 1.2.2-Reinsurance Share of Outstanding Claims Reserve (+) 10,17 (4.644.367.396) 11.559.029.852 2- Changes in Bonus and Discount Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) - - 2.1- Bonus and Discount Reserve (-) - - 2.2-Reinsurance Share of Bonus and Discount Reserve (+) - - 3- Changes in Other Technical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 29 (672.476.519) 52.179.084 4- Operating Expenses (-) 32 (16.206.167.034) (9.604.475.147) 5- Changes in Mathematical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) - - 5.1- Mathematical Reserves (-) - - 5.2-Reinsurance Share of Mathematical Reserves (+) - - 6- Other Technical Expenses (-) 47 (1.599.282.516) (823.140.641) 6.1- Gross Other Technical Expenses (-) (1.618.268.618) (836.973.120) 6.2-Reinsurance Share of Other Technical Expenses (+) 18.986.102 13.832.479 185 2024 Annual Report Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) The accompanying notes are an integral part of these consolidated financial statements. (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 Consolidated Statement of Income For the Year Ended December 31, 2024