Milli Re 2025 Annual Report

I- TECHNICAL SECTION Note Audited Current Period December 31, 2025 Audited Prior Period December 31, 2024 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 (-) - - 6.1- Gross Other Technical Expenses (-) - - 6.2- Reinsurance Share of Other Technical Expenses (+) - - C- Non-Life Technical Net Profit (A-B) 258.951.912 (1.694.505.496) D- Life Technical Income 152.850.597 62.119.444 1- Earned Premiums (Net of Reinsurer Share) 103.817.357 35.429.875 1.1- Written Premiums (Net of Reinsurer Share) 17,24 125.489.936 73.127.468 1.1.1- Gross Written Premiums (+) 17,24 158.130.849 92.945.103 1.1.2- Ceded Premiums to Reinsurers (-) 10,17,24 (32.640.913) (19.817.635) 1.2- Change in Unearned Premiums Reserve (Net of Reinsurers Shares and Reserves Carried Forward) (+/-) 17,29 (21.672.579) (37.697.593) 1.2.1- Unearned Premium Reserves (-) 17 (28.471.053) (38.762.083) 1.2.2-Unearned Premium Reserves Reinsurer Share (+) 10,17 6.798.474 1.064.490 1.3- Changes in Unexpired Risks Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) - - 1.3.1- Unexpired Risks Reserves (-) - - 1.3.2-Unexpired Risks Reserves Reinsurer Share (+) - - 2- Life Branch Investment Income 46.198.356 26.221.477 3-Unrealized Income from Investments - - 4-Other Technical Income (Net of Reinsurer Share) (+/-) 47 2.834.884 468.092 4.1- Gross Other Technical Income (+/-) 2.705.156 408.355 4.2- Reinsurance Share of Other Technical Income (+/-) 129.728 59.737 5-Accrued Subrogation and Salvage Income (+) - - 118 MİLLÎ REASÜRANS 2025 Annual Report Millî Reasürans Türk Anonim Şirketi The accompanying notes are an integral part of these unconsolidated financial statements. (Currency: Turkish Lira (TRY)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) Unconsolidated Statement of Income For the Year Ended December 31, 2025