Milli Re 2025 Annual Report

Note Audited Current Period January 1- December 31, 2025 Audited Prior Period January 1- December 31, 2024 A. CASH FLOWS FROM THE OPERATING ACTIVITIES 1. Cash inflows from the insurance operations 84.008.504.701 59.986.501.570 2. Cash inflows from the reinsurance operations 8.895.218.425 7.686.408.782 3. Cash inflows from the pension operations - - 4. Cash outflows due to the insurance operations (-) (72.147.639.253) (45.839.917.002) 5. Cash outflows due to the reinsurance operations (-) (7.316.751.490) (8.099.972.903) 6. Cash outflows due to the pension operations (-) - - 7. Cash generated from the operating activities (A1+A2+A3-A4-A5-A6) 13.439.332.383 13.733.020.447 8. Interest payments (-) - - 9. Income tax payments (-) (3.760.607.844) (2.647.761.047) 10. Other cash inflows 393.843.114 220.947.142 11. Other cash outflows (-) (930.704.809) (3.562.151.572) 12. Net cash generated from the operating activities 9.141.862.844 7.744.054.970 B. CASH FLOWS FROM THE INVESTING ACTIVITIES 1. Sale of tangible assets 1.603.082.816 30.000.000 2. Purchase of tangible assets (-) 6, 8 (1.554.814.967) (435.860.912) 3. Acquisition of financial assets (-) 11 (175.575.131.226) (86.941.749.515) 4. Sale of financial assets 11 166.503.030.212 83.161.482.765 5. Interest received 12.545.542.333 5.414.026.424 6. Dividends received 623.933.984 287.038.441 7. Other cash inflows 211.379.976 2.512.141.657 8. Other cash outflows (-) (1.884.569.328) (1.007.041.025) 9. Net cash generated from the investing activities 2.472.453.800 3.020.037.835 C. CASH FLOWS FROM THE FINANCING ACTIVITIES 1. Issue of equity shares - - 2. Cash inflows from the loans to policyholders - - 3. Payments of financial leases (-) (137.196.705) (95.377.403) 4. Dividend paid (-) (1.492.012.717) - 5. Other cash inflows - - 6. Other cash outflows (-) - - 7. Cash generated from the financing activities (1.629.209.422) (95.377.403) D. EFFECTS OF EXCHANGE RATE DIFFERENCES ON CASH AND CASH EQUIVALENTS 602.019.406 491.108.566 E. Net increase/(decrease) in cash and cash equivalents (A12+B9+C7+D) 10.587.126.628 11.159.823.968 F. Cash and cash equivalents at the beginning of the period 14 21.249.502.608 10.089.678.640 G. Cash and cash equivalents at the end of the period (E+F) 14 31.836.629.236 21.249.502.608 219 Millî Reasürans Türk Anonim Şirketi The accompanying notes are an integral part of these consolidated financial statements. 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) Consolidated Statement of Cash Flows For the Year Ended December 31, 2025