Milli Re 2025 Annual Report

Audited - Changes in Equity - December 31, 2024 Note Paid in Capital Equity Share Owned by Company (-) Revaluations of Financial Assets Inflation Adjustment on Capital I- Balance at the end of the previous year - December 31, 2023 660.000.000 - 1.576.301.378 - II- Change in Accounting Standards - - - - III- Restated balances (I+II) - January 1, 2024 660.000.000 - 1.576.301.378 - A- Capital increase - - - - 1- In cash - - - - 2- From reserves - - - - B- Purchase of own shares - - - - C- Gains or losses that are not included in the statement of income - - - - D- Change in the value of financial assets 15 - - 288.405.326 - E- Currency translation adjustments - - - - F- Other gains or losses - - - - G- Inflation adjustment differences - - - - H- Net profit for the year - - - - I- Other reserves and transfers from retained earnings - - - - J- Dividends paid - - - - IV- Balance at the end of the period - December 31, 2024 15 660.000.000 - 1.864.706.704 - Audited - Changes in Equity - December 31, 2025 Note Paid in Capital Equity Share Owned by Company (-) Revaluations of Financial Assets Inflation Adjustment on Capital I- Balance at the end of the previous year - December 31, 2024 660.000.000 - 1.864.706.704 - II- Change in Accounting Standards - - - - III- Restated balances (I+II) - January 1, 2025 660.000.000 - 1.864.706.704 - A- Capital increase - - - - 1- In cash - - - - 2- From reserves - - - - B- Purchase of own shares - - - - C- Gains or losses that are not included in the statement of income - - - - D- Change in the value of financial assets 15 - - 465.750.457 - E- Currency translation adjustments - - - - F- Other gains or losses - - - - G- Inflation adjustment differences - - - - H- Net profit for the year - - - - I- Other reserves and transfers from retained earnings - - - - J- Dividends paid 38 - - - - IV- Balance at the end of the period - December 31, 2025 15 660.000.000 - 2.330.457.161 - (*) The amounts recognized directly in the equity of subsidiaries and affiliates accounted for using the equity method consist of the parent company’s shares. 122 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 Changes in Equity For the Year Ended December 31, 2025