Milli Re 2025 Annual Report

The amounts of incurred but not reported c (“IBNR”) allocated by the Company on a branch basis and the IBNR calculation methods it has chosen are given in the table below: Milli Reasürans December 31, 2025 December 31, 2024 Branches Calculation Method Net IBNR (*) Net IBNR (*) Fire and Natural Disasters ACLM- Paid Claims 2.196.966.753 748.210.321 General Losses (***) ACLM- Paid Claims 1.426.314.419 820.698.727 General Liabilities (**) ACLM- Paid Claims 741.880.602 860.809.044 Motor Third Party Liability ACLM- Paid Claims 567.750.265 365.686.798 Marine ACLM- Paid Claims 101.979.917 (97.517.324) Other branches, total ACLM- Paid Claims 35.770.481 63.950.503 Other branches, total Sector Average (TSB) 9.750.117 1.777.924 Total 5.080.412.554 2.763.615.993 (*) Excludes amounts allocated for the Singapore branch. (**) In accordance with the “Circular numbered 2020/11 on Making Amendments on Communique regarding Provision for Outstanding Claim Files numbered 2014/16”, an additional calculation is made in terms of Compulsory Financial Liability Insurance regarding Medical Malpractice sub-branch and calculation is made in terms of other sub-branches under General Liability through excluding Compulsory Financial Liability Insurance regarding Medical Malpractice. (***) Two separate calculations have been made as agriculture and non-agriculture subbranches. Singapore December 31, 2025 December 31, 2024 Branches Net IBNR Net IBNR Fire and Natural Disasters 164.065.303 118.675.189 General Losses 64.113.053 51.622.682 Marine 11.023.944 9.257.351 Sea Vehicles 7.250.163 9.454.004 Other branches, total 5.519.701 3.016.175 General Liabilities 377.825 233.175 Total 252.349.989 192.258.576 The Company, selects data, adjustments, applicable methods and development factors by itself over the data obtained from insurance companies on a branch basis via actuarial methods. According to the article 11 clause 5 of “Circular on Actuarial Report for Non-Life Insurance Branch” dated November 6, 2008, selections and results should be assessed in detail in actuarial report by the actuary. Due to the insufficient data available to the Company in the sea vehicles liability, air vehicles liability, surety and credit branches and the irregular distribution of the data in the loss development tables, the Company could not find the opportunity to obtain a result by subjecting the relevant data to the correction process. For this reason, values representing the sector averages were used in the branches. (The IBNR calculated from the industry average as of September 30, 2025, is determined by dividing the reported industry IBNR for the relevant line by the total industry twelve- month premium for that line, and then multiplying the resulting ratio by the Company’s annual premium). On the other hand, for Financial Losses and Life branches where a similar method was applied as of December 31, 2022, calculations were made using the Standard Chain method as of 31.12.2022 due to the data reaching a certain maturity. 144 MİLLÎ REASÜRANS 2025 Annual Report Notes to the Unconsolidated Financial Statements As of December 31, 2025 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TRY)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish)