Milli Re 2025 Annual Report

According to the Regulation on the Measurement and Evaluation of Capital Adequacy of Insurance, Reinsurance, and Pension Companies published by the Republic of Turkey’s Ministry of Treasury and Finance in the Official Gazette dated August 23, 2015, issue number 29454, and the Regulation Amending the Regulation on the Measurement and Evaluation of Capital Adequacy of Insurance, Reinsurance, and Pension Companies published in the Official Gazette dated December 31, 2024, issue number 32769, capital adequacy calculations are conducted four times a year, in the periods of March, June, September, and December. In accordance with the “Communiqué on Measurement and Assessment of Capital Adequacy for Insurance, Reinsurance and Individual Pension Companies” issued by Republic of Turkey Ministry of Treasury and Finance on August 23, 2015 dated and 29454 numbered; the Company measured its minimum capital requirement as TL 6.002.453.032 as of December 31, 2025. As of December 31, 2025, the Company’s equity, as determined by the capital adequacy regulations, is TL 26.136.121.739. According to the calculated capital adequacy result based on the regulations, there is a capital surplus of TL 20.133.668.707 as of December 31, 2025. 5 Segment Information A segment is a distinguishable component of the Company that is engaged either in providing products or services (business segment), or in providing products or services within a particular economic environment (geographical segment), which is subject to risks and rewards that are different from those of other segments. The Company does not prepare segment reporting since it is not publicly traded. 6 Tangible assets Movement in tangible assets in the period from January 1 to December 31, 2025 is presented below: January 1, 2025 Additions Foreign currency translation effect (*) Disposals Revaluation surplus December 31, 2024 Cost : Furniture and fixtures 50.164.806 10.704.835 1.759.732 (1.019.293) - 61.610.080 Land vehicles 13.395.172 - 1.699.343 - - 15.094.515 Leased Assets 52.016.197 56.995.708 6.076.775 (1.870.778) - 113.217.902 Other Tangible Assets 53.013.225 2.789.448 - - - 55.802.673 168.589.400 70.489.991 9.535.850 (2.890.071) - 245.725.170 Accumulated depreciation: Furniture and fixtures 24.463.644 10.525.459 1.712.172 (889.413) - 35.811.862 Land vehicles 852.109 2.866.768 237.103 - - 3.955.980 Leased Assets 27.496.353 32.651.089 4.945.143 (1.699.922) - 63.392.663 Other Tangible Assets 11.486.198 10.969.939 - - - 22.456.137 64.298.304 57.013.255 6.894.418 (2.589.335) - 125.616.642 Net Book Value 104.291.096 120.108.528 (*) Foreign currency translation effect resulted from Singapore Branch. 166 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)