Milli Re 2025 Annual Report

The classification of fair value measurements of financial assets and liabilities measured at fair value is as follows: December 31, 2025 Level 1 Level 2 Level 3 Total Financial assets : Held for trading financial assets (Note 11) 2.875.588.698 - - 2.875.588.698 Available for sale financial assets (Note 11) (*) 4.013.131.687 2.905.555.254 - 6.918.686.941 Total financial assets 6.888.720.385 2.905.555.254 - 9.794.275.639 (*) As of December 31, 2025, securities that are not publicly traded amounting to TL 91.492 have been measured at cost. December 31, 2024 Level 1 Level 2 Level 3 Total Financial assets: Held for trading financial assets (Note 11) 1.869.851.326 - - 1.869.851.326 Available for sale financial assets (Note 11) (*) 3.428.881.186 - - 3.428.881.186 Total financial assets 5.298.732.512 - - 5.298.732.512 (*) As of December 31, 2024, securities that are not publicly traded amounting to TL 91.492 have been measured at cost. Equity share price risk Equity share price risk is defined as the risk of decreasing the market price of equity shares as a result of a decline in index. The effect of changes in fair values of the associates and the available-for-sale financial assets on equity that is resulted from the fluctuations on index (all of the other variables are assumed to be fixed) are as follows As of December 31, 2025 and 2024: Change in index December 31, 2025 December 31,2024 Market price of equity 10% 102.590.492 88.537.613 164 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)