MILLIRE ENG2024

For the purpose of evaluation of the above table, TRY equivalents of the relevant foreign currency amounts have been shown. December 31, 2024, while the CBRT evaluated the CBRT with the sales rate, other daily transactions were evaluated with accounting based on the temporary exchange rates on the transaction date, at the end of the reporting period, foreign currency denominated active items were evaluated with CBRT exchange rates dated December 31, 2024 and passive items were evaluated with CBRT sales rates. Foreign currency rates used for the translation of foreign currency denominated monetary assets and liabilities As of December 31, 2024 and 2023 are as follows: End of the Period (Buying) End of the Period (Selling) Average ABD Avro ABD Avro ABD Avro 31 December 2024 35,2803 36,7362 35,3438 36,8024 32,7984 35,4893 31 December 2023 29,4382 32,5739 29,4913 32,6326 23,7482 25,6852 Exposure to foreign currency risk A 20 percent depreciation of the TL against the following currencies As of December 31, 2024 and 2023 would have increased or decreased equity and profit or loss (excluding tax effects) by the amounts shown below (December 31, 2023: 20 percent depreciation of the TL). This analysis assumes that all other variables, in particular interest rates, remain constant. In case of a 20 percent appreciation of the TL against the following currencies, the effect will be in opposite direction. 31 December 2024 31 December 2023 Profit or loss Equity (*) Profit or loss Equity (*) US Dollar 1.224.168.219 1.224.168.219 819.072.972 819.072.972 Euro (115.097.965) (115.097.965) 1.404.721.210 1.404.721.210 Others (46.975.962) (46.975.962) (5.341.202) (5.341.202) Total, net 1.062.094.292 1.062.094.292 2.218.452.980 2.218.452.980 (*) Equity effect also includes profit or loss effect of 20% depreciation of TL against related currencies (December 31, 2023: 20% depreciation of TL). Exposure to interest rate risk The principal risk to which non-trading portfolios are exposed is the risk of loss from fluctuations in the future cash flows or fair values of financial instrument because of a change in market interest rates. Interest rate risk is managed principally through monitoring interest rate gaps and by having pre-approved limits for repricing bands. 231 2024 Annual Report Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) Notes to the Consolidated 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