MILLIRE ENG2024

II- NON-TECHNICAL SECTION Note Audited Current Period January 1- December 31, 2024 Audited Prior Period January 1- December 31, 2023 C- Net Technical Income - Non-Life (A-B) 12.998.988.946 7.535.613.133 F- Net Technical Income - Life (D-E) 22.286.521 11.785.905 I - Net Technical Income - Pension Business (G-H) - - J- Total Net Technical Income (C+F+I) 13.021.275.467 7.547.399.038 K- Investment Income 27.116.443.257 23.079.074.496 1- Income From Financial Investment 4.2 6.136.203.234 2.110.889.126 2- Income from Sales of Financial Investments 4.2 3.210.213.843 3.805.216.298 3- Revaluation of Financial Investments 4.2 7.269.622.054 2.489.203.929 4- Foreign Exchange Gains 4.2 6.152.931.869 11.036.934.305 5- Income from Affiliates 4.2 904.218.444 599.301.192 6- Income from Subsidiaries and Joint Ventures - - 7- Income Received from Land and Building 7 2.161.882.915 1.741.275.879 8- Income from Derivatives 4.2 1.278.455.517 1.296.253.767 9- Other Investments 2.915.381 - 10- Investment Income transferred from Life Technical Part - - L- Investment Expense (24.695.640.054) (22.333.349.143) 1- Investment Management Expenses (including interest) (-) 4.2 (62.983.176) (214.728.643) 2- Valuation Allowance of Investments (-) 4.2 (432.330.008) (82.669.203) 3- Losses On Sales of Investments (-) 4.2 (342.734.471) (858.310.002) 4- Investment Income Transferred to Non-Life Technical Part (-) (19.297.644.480) (15.314.595.908) 5- Losses from Derivatives (-) 4.2 (323.581.975) (576.504.323) 6- Foreign Exchange Losses (-) 4.2 (3.877.496.679) (5.082.238.998) 7- Depreciation Expenses (-) 6,8 (213.477.054) (147.320.381) 8- Other Investment Expenses (-) (145.392.211) (56.981.685) M- Income and Expenses From Other and Extraordinary Operations (1.513.587.487) (273.211.707) 1- Provisions Account (+/-) 47 (952.947.949) (436.226.716) 2- Discount account (+/-) 47 (378.982.423) (100.156.604) 3- Mandatory Earthquake Insurance Account (+/-) - - 4- Inflation Adjustment Account (+/-) - - 5- Deferred Tax Asset Accounts(+/-) 35 - 263.997.271 6- Deferred Tax Expense Accounts (-) 35 (155.885.646) - 7- Other Income and Revenues 38.169.757 43.429.481 8- Other Expense and Losses (-) (63.941.226) (44.255.139) 9- Prior Period Income - - 10- Prior Period Losses (-) - - N- Net Profit for the Year 10.650.055.977 6.355.426.820 1- Profit/(Loss) Before Tax 13.928.491.183 8.019.912.684 2- Corporate Tax Liability Provision (-) 35 (3.278.435.206) (1.664.485.864) 3- Net Profit (Loss) 10.650.055.977 6.355.426.820 3.1- Groups Profit/(Loss) 5.724.122.032 3.631.736.624 3.2-Minority Shares 4.925.933.945 2.723.690.196 4- Monetary Gains and Losses - - 188 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) MİLLİ RE Consolidated Statement of Income For the Year Ended December 31, 2024