Milli Re 2025 Annual Report

Audited Changes in Equity - December 31, 2024 Note Paid-in capital Equity Share Owned by Company Revaluation of financial assets Inflation Adjustment on Capital I- Balance at the end of the previous year - December 31, 2023 660.000.000 - 1.576.301.376 - II- Change in Accounting Standards - - - - III- Restated balances (I+II) - January 1, 2024 660.000.000 - 1.576.301.376 - A- Capital increase (A1+A2) - - - - 1- In cash - - - - 2- From reserves - - - - B- Purchase of own shares - - - - C- Purchase of own shares - - - - D- Gains or losses that are not included in the statement of income 11 - - 288.405.332 - E- Change in the value of financial assets - - - - F- Other gains or losses - - - - G- Inflation adjustment differences - - - - H- Net profit for the year - - - - I- Other reserves and transfers from retained earnings - - - - J- Dividends paid - - - - IV- Balance at the end of the year - December 31, 2024 660.000.000 - 1.864.706.708 - Audited Changes in Equity - December 31, 2025 Note Paid-in capital Equity Share Owned by Company Revaluation of financial assets Inflation Adjustment on Capital I- Balance at the end of the previous year - December 31, 2024 660.000.000 - 1.864.706.708 - II- Change in Accounting Standards - - - - III- Restated balances (I+II) - January 1, 2025 660.000.000 - 1.864.706.708 - A- Capital increase (A1+A2) - - - - 1- In cash - - - - 2- From reserves - - - - B- Purchase of own shares - - - - C- Purchase of own shares - - - - D- Gains or losses that are not included in the statement of income 11 - - 465.750.453 - E- Change in the value of financial assets - - - - F- Other gains or losses - - - - G- Inflation adjustment differences - - - - H- Net profit for the year - - - - I- Other reserves and transfers from retained earnings - - - - J- Dividends paid 38 - - - - IV- Balance at the end of the year - December 31, 2025 660.000.000 - 2.330.457.161 - 220 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 Changes in Equity For the Year Ended December 31, 2025