Milli Re 2025 Annual Report

Extraordinary reserves The movement of extraordinary reserves is as follows: December 31, 2025 December 31, 2024 Legal reserves at the beginning of the period 4.518.846.761 1.448.635.062 Accounted according to the equity method 3.476.157.164 3.070.211.699 Legal reserves at the end of the period 7.995.003.925 4.518.846.761 As a result of the revaluation application made under Article 298 (repeated) of the Tax Procedure Law (VUK), the revaluation fund amounting to 21.819.457 TL has been classified under “Extraordinary Reserves” in accordance with the Communiqué Amending the VUK General Communiqué (Serial No: 547) dated January 14, 2023 (December 31, 2024: None). No additional fund has been accounted for in the non-consolidated balance sheet dated December 31, 2025, regarding this application; however, a classification has been made within the extraordinary reserves for the amount calculated according to the relevant tax legislation. Since this fund is set aside in accordance with the relevant tax legislation, it cannot be subject to profit distribution. Special funds (reserves) As of December 31, 2025, special funds accounted according to the equity method is amounting to TL 1.966.149.193 (December 31, 2024: 241.519.108). The movements of special funds are as follows: December 31, 2025 December 31, 2024 Legal reserves at the beginning of the period 330.452.130 184.820.637 Accounted according to the equity method 1.724.630.085 145.631.493 Legal reserves at the end of the period 2.055.082.215 330.452.130 Other profit reserves In accordance with IAS 19, actuarial losses resulting from the calculation of the provision for severance pay have been accounted for under “Other Profit Reserves” within equity. The movement schedule for other profit reserves is as follows: December 31, 2025 December 31, 2024 Other profit reserves at the beginning of the period (39.645.612) (16.950.092) Actuarial gains/losses (224.510) (8.013.181) Accounted according to the equity method (80.718.013) (14.682.339) Other profit reserves at the end of the period (120.588.135) (39.645.612) Statutory reserves After the allocation of first legal reserves and first dividend to shareholders, reserve for natural disasters and catastrophe might be allocated, if deemed necessary, based on the suggestion of the Board of Directors and decision of the General Assembly. As of December 31, 2025, there are no funds allocated in this manner (December 31, 2024: None). As of December 31, 2025, the statutory reverses that are accounted according to the equity method amounting to TL 1.089.589.919 (December 31, 2024: TL 572.615.467). 179 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)