Milli Re 2025 Annual Report

December 31, 2024 Nominal value Cost Fair value Net book value Debt instruments: Government bons - TL 39.293.493 59.490.880 114.506.740 114.506.740 Government bonds - EUR 26.320.000 556.100.696 1.003.869.190 1.003.869.190 Government bonds - USD 7.067.000 163.870.948 266.808.486 266.808.486 Private sector bonds - USD 19.006.000 661.119.144 689.699.762 689.699.762 Private sector bonds - TL 543.000.000 524.342.000 540.933.483 540.933.483 1.964.923.668 2.615.817.661 2.615.817.661 Non-fixed income financial assets: Equity shares 61.938.846 785.210.400 785.210.400 Investment funds 27.000.000 27.944.617 27.944.617 88.938.846 813.155.017 813.155.017 Total available-for-sale financial assets 2.053.862.514 3.428.972.678 3.428.972.678 As of December 31, 2024, 2024 the details of the Company’s held for trading assets are as follows. Cost Fair value Net book value Investment funds TL 1.086.131.172 1.246.316.818 1.246.316.818 Investment funds YP 1.372.393.585 1.531.971.880 1.531.971.880 Equity shares 99.750.000 97.300.000 97.300.000 Total 2.558.274.757 2.875.588.698 2.875.588.698 Cost Fair value Net book value Investment funds TL 989.976.416 1.197.829.527 1.197.829.527 Investment funds YP 573.285.998 571.764.574 571.764.574 Equity shares 102.624.024 100.257.225 100.257.225 Total available-for-sale financial assets 1.665.886.438 1.869.851.326 1.869.851.326 Debt instruments presented above are traded in the capital markets. As of December 31, 2025, equity shares classified as available for sale financial assets with a carrying amount of TL 91.492 are not publicly traded (December 31, 2024: TL 91.492). 173 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)