Milli Re 2025 Annual Report

II- NON-TECHNICAL SECTION Note Audited Current Period December 31, 2025 Audited Prior Period December 31, 2024 C- Non-Life Technical Profit (A-B) 258.951.912 (1.694.505.496) F- Life Technical Profit (D-E) 44.649.771 22.286.521 I - Individual Retirement Technical Profit (G-H) - - J- Total Technical Profit (C+F+I) 303.601.683 (1.672.218.975) K- Investment Income 13.770.220.210 10.495.454.452 1- Income From Financial Investment 4.2 2.351.774.847 1.254.247.652 2- Income from Sales of Financial Investments 4.2 677.553.921 357.202.721 3- Revaluation of Financial Investments 4.2 219.112.157 315.063.094 4- Foreign Exchange Gains 4.2 874.431.251 450.091.248 5- Income from Affiliates 4.2 746.878.965 536.502.944 6- Income from Subsidiaries and Joint Ventures 4.2 8.881.792.288 7.555.428.109 7- Income Received from Land and Building - (70.620) 8- Income from Derivatives 4.2 16.176.781 24.073.923 9- Other Investments 2.500.000 2.915.381 10- Investment Income transferred from Life Technical Part - - L- Investment Expenses (-) (4.366.932.061) (2.617.504.715) 1- Investment Management Expenses (including interest) (-) 4.2 (12.964.454) (4.165.831) 2- Valuation Allowance of Investments (-) - - 3- Losses On Sales of Investments (-) 4.2 (22.486.152) (24.341.548) 4- Investment Income Transferred to Non-Life Technical Part (-) (4.039.858.325) (2.371.156.246) 5- Losses from Derivatives (-) 4.2 - (5.039.473) 6- Foreign Exchange Losses (-) 4.2 (21.909.749) (35.029.676) 7- Depreciation Expenses (-) 6,8 (62.295.819) (38.489.252) 8- Other Investment Expenses (-) (207.417.562) (139.282.689) M- Other Income and Expenses (+/-) 69.529.373 (272.099.357) 1- Provisions Account (+/-) 47 (382.158.935) (329.836.302) 2- Discount account (+/-) 47 8.622.415 (9.580.145) 3- Mandatory Earthquake Insurance Account (+/-) - - 4- Inflation Adjustment Account (+/-) - - 5- Deferred Tax Asset Accounts (+/-) 21,35 410.797.064 53.365.094 6- Deferred Tax Expense Accounts (-) - - 7- Other Income and Revenues 32.586.530 14.105.598 8- Other Expense and Losses (-) (317.701) (153.602) 9- Prior Period Income - - 10- Prior Period Losses (-) - - N- Net Profit/(Loss) 37 9.776.419.205 5.933.631.405 1- Profit/(Loss) Before Tax 9.776.419.205 5.933.631.405 2- Corporate Tax Liability Provision (-) - - 3- Net Profit (Loss) 9.776.419.205 5.933.631.405 4- Inflation Adjustment Account - - 120 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