Milli Re 2025 Annual Report

I- TECHNICAL SECTION Note Audited Current Period January 1- December 31, 2025 Audited Prior Period January 1- December 31, 2024 3- Changes in Other Technical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 29 (1.349.997.395) (672.476.519) 4-Operating Expenses (-) 32 (23.442.208.182) (16.206.167.034) 5-Changes in Mathematical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) - - 5.1- Mathematical Reserves (-) - - 5.2- Reinsurance Share of Mathematical Reserves (+) - - 6-Other Technical Expenses (-)  47 (1.982.186.938) (1.599.282.516) 6.1.- Gross Other Technical Expenses (-) (1.994.916.171) (1.618.268.618) 6.2.- Reinsurance Share of Other Technical Expenses (+) 12.729.233 18.986.102 C- Non Life Technical Net Profit (A-B) 18.442.708.039 12.998.988.946 D- Life Technical Income 152.850.597 62.119.444 1- Earned Premiums (Net of Reinsurer Share) 103.817.357 35.429.875 1.1- Written Premiums (Net of Reinsurer Share) 17 125.489.936 73.127.468 1.1.1- Gross Written Premiums (+) 17 158.130.849 92.945.103 1.1.2- Ceded Premiums to Reinsurers (-) 10,17 (32.640.913) (19.817.635) 1.2- Change in Unearned Premiums Reserve (Net of Reinsurers Shares and Reserves Carried Forward) (+/-) 17,29 (21.672.579) (37.697.593) 1.2.1- Unearned Premium Reserves (-) 17 (28.471.053) (38.762.083) 1.2.2- Unearned Premium Reserves Reinsurer Share (+) 10,17 6.798.474 1.064.490 1.3- Changes in Unexpired Risks Reserve (Net of Reinsurer Share and Reserves Carried Forward)(+/-) - - 1.3.1- Unexpired Risks Reserves (-) - - 1.3.2- Unexpired Risks Reserves Reinsurer Share (+) - - 2- Life Branch Investment Income 46.198.356 26.221.477 3-Unrealized Income from Investments - - 4-Other Technical Income (Net of Reinsurer Share) (+/-)  47 2.834.884 468.092 4.1- Gross Other Technical Income (+/-) 2.705.156 408.355 4.2- Reinsurance Share of Other Technical Income (+/-) 129.728 59.737 5-Accrued Subrogation and Salvage Income (+) - - 216 MİLLÎ REASÜRANS 2025 Annual Report Millî Reasürans Türk Anonim Şirketi The accompanying notes are an integral part of these consolidated financial statements. (Currency: Turkish Lira (TRY)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) Consolidated Statement of Income For the Year Ended December 31, 2025