Milli Re 2025 Annual Report

Branches December 31, 2024 Gross total claims liability (*) Reinsurance share of total claims liability Net total claims liability Fire and Natural Disasters 7.147.159.967 (4.573.446.732) 2.573.713.235 General Losses 1.634.583.440 (9.292.488) 1.625.290.952 Sea Vehicles 327.869.173 (32.295.210) 295.573.963 General Liabilities 214.406.429 (1.862.334) 212.544.095 Marine 221.955.057 (56.483.650) 165.471.407 Motor Third Party Liability (MTPL) 147.256.964 (15.447) 147.241.517 Financial Losses 89.638.356 (2.553.391) 87.084.965 Land Vehicles 73.824.733 (57.811) 73.766.922 Accident 25.980.453 (572.053) 25.408.400 Health 7.784.841 -- 7.784.841 Life 10.894.560 (3.522.521) 7.372.039 Fidelity Guarantees 5.581.260 (22.931) 5.558.329 Air Vehicles 4.208.193 -- 4.208.193 Credit 440.103 -- 440.103 Legal Protection 21.149 -- 21.149 Sea Vehicles liability 1.349 -- 1.349 Total 9.911.606.027 (4.680.124.568) 5.231.481.459 (*) Total claims liability includes outstanding claims reserve (paid). Effects of the changes in assumptions used in the measurement of insurance assets and liabilities showing the effect of each change separately that has significant effect on financial statements In the current year, there are no material changes in the assumptions of measurement of insurance assets and liabilities. 4.2 Management of financial risk Introduction and overview This note presents information about the Company’s exposure to each of the below risks, the Company’s objectives, policies and processes for measuring and managing risk, and the Company’s management of capital. The Company has exposure to the following risks from its use of financial instruments: – credit risk – liquidity risk – market risk The Company may be exposed to Credit Risk (counterparty risk, counterparty concentration risk), Market Risk (currency and parity risk, interest rate risk, equity position risk, off-balance sheet risk, financial instrument concentration risk), and Liquidity Risk (liquidity risk related to funding, market, and concentration) depending on the level and nature of its assets at any given time. The Company’s exposure to each of the above risks is assessed according to “Application Principles in Respect of Risk Limits”. 156 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)