Milli Re 2025 Annual Report

As of the reporting period, the interest profile of the Company’s interest-bearing financial assets is detailed in the table below: December 31, 2025 December 31, 2024 Financial assets Financial assets with fixed interest rates : 12.148.748.017 6.417.269.221 Cash at banks (Note 14) 6.691.245.398 3.962.224.360 Available for sale financial assets - Government bonds - FC (Note 11) 1.199.853.002 114.506.740 Available for sale financial assets - Government bonds - TL (Note 11) 1.719.138.878 1.270.677.676 Available for sale financial assets - Private sector bonds - FC (Note 11) 1.919.687.000 380.160.683 Available for sale financial assets - Private sector bonds - TL (Note 11) 618.823.739 689.699.762 Financial assets with variable interest rate: 532.579.400 160.772.800 Available for sale financial assets - Private sector bonds - TL (Note 11) 532.579.400 160.772.800 Fair value information The estimated fair values of financial instruments have been determined using available market information, and where it exists, appropriate valuation methodologies. The Company has classified its financial assets as held for trading or available for sale. As of the reporting date, available for sale financial assets and financial assets held for trading are measured at their fair values based on their quoted prices or fair value information obtained from brokers in the accompanying unconsolidated financial statements. Management estimates that the fair value of other financial assets and liabilities are not materially different than their carrying values. Classification relevant to fair value information TFRS 7 - Financial instruments: Disclosures requires the classification of fair value measurements into a fair value hierarchy by reference to the observability and significance of the inputs used in measuring fair value of financial instruments measured at fair value to be disclosed. This classification basically relies on whether the relevant inputs are observable or not. Observable inputs refer to the use of market data obtained from independent sources, whereas unobservable inputs refer to the use of predictions and assumptions about the market made by the Company. This distinction brings about a fair value measurement classification generally as follows. Level 1: Fair value measurements using quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2: Fair value measurements using inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices). Level 3: Fair value measurements using inputs for the assets or liability that are not based on observable market data (unobservable inputs). Classification requires the utilization of observable market data, if available. 163 Notes to the Unconsolidated Financial Statements As of December 31, 2025 Millî Reasürans Türk Anonim Şirketi GENERAL INFORMATION FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RISKS AND ASSESSMENT OF THE GOVERNING BODY ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES RESEARCH & DEVELOPMENT ACTIVITIES FINANCIAL STATUS FINANCIAL INFORMATION (Currency: Turkish Lira (TRY)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish)