Milli Re 2025 Annual Report

An actuarial report has been obtained from registered actuary regarding calculation of the amount to be paid to the Social Security Institution by the Company in accordance with the new law. The CSO 1980 mortality table for December 31, 2025 9.8% of technical deficit interest rate are taken into account in the calculation of the said technical deficit. No real increase/decrease is anticipated in salary and health expenses. The health benefits to be paid will be considered by the Group management due to the changes in the Social Security Institution legislation and other regulations. At December 31, 2025 and 2024, technical deficit from pension funds comprised the following. December 31, 2025 December 31, 2024 Net present value of total liabilities other than health (1.896.961.285) (1.318.482.732) Net present value of insurance premiums 670.576.973 466.569.320 Net present value of total liabilities other than health (1.226.384.312) (851.913.412) Net present value of health liabilities (309.573.316) (191.390.413) Net present value of health premiums 397.714.555 291.491.390 Net present value of health assets 88.141.239 100.100.977 Retirement Benefit Provision for Pension Fund (-) (43.771.194) (39.153.892) Pension fund assets 202.475.918 136.423.906 Amount of actuarial and technical deficit (-) (979.538.349) (654.542.421) Pension fund’s assets are comprised of the following items: December 31, 2025 December 31, 2024 Cash and cash equivalents 30.044 23.352 Associates 176.850.015 117.874.690 Other 25.595.859 18.525.864 Total plan assets 202.475.918 136.423.906 23 Other liabilities and expense accruals As of December 31, 2025, and 2024; the provisions for other risks are disclosed as follows: December 31, 2025 December 31, 2024 Provision for pension fund deficits (Note 22) 979.538.349 654.542.421 Provision for employee termination benefits 33.617.555 23.189.092 Total provision for other risks 1.013.155.904 677.731.513 188 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)