Milli Re 2025 Annual Report

1 General information 1.1 Name of the Company and the ultimate owner of the group As of December 31, 2024, the shareholder having direct or indirect control over the shares of Millî Reasürans Türk Anonim Şirketi (the “Company”,“Milli Reasürans”) is Türkiye İş Bankası AŞ Group (“İş Bankası”) having 87,60% of the outstanding shares. The Company was established in February 26, 1929 and has been operating since in July 19, 1929. On September 30, 2010, the Company purchased 35,53% shares of Anadolu Sigorta Anonim Şirketi with nominal value of TRY 177.650.110 from İş Bankası amounting to TRY 248.710.154. The transaction is realized on the weighted average price on İstanbul Stock Exchange wholesale market. With the purchase, the share of the Company at Anadolu Sigorta increased to 57,31% and investment increased to TRY 286.550.106. The consolidated financial statements As of December 31, 2025 include the Company and its subsidaries Anadolu Sigorta and Miltaş Turizm İnşaat A.Ş. (together with “the Group”). 1.2 The Company’s address and legal structure and address of its registered country and registered office (or, if the Company’s address is different from its registered office, the original location where the Company’s actual operations are performed) The Company was registered in Turkey in July 16, 1929 and has the status of “Incorporated Company”. The address of the Company’s registered office is “İş Kuleleri, Kule 3, Kat:20-21-22-24 34330 Levent, Beşiktaş, İstanbul” 1.3 Main operations of the Company The Company is primarily engaged in reinsurance and retrocession businesses in domestic and international markets. In 2007, the Company opened a branch in Singapore upon the completion of the necessary local formalities according to the local legislation. Singapore branch has been operating since 2008. The subsidiary of the Company, Anadolu Sigorta operates in almost all non-life insurance branches consisting of mainly casualty, health, land vehicles, aircraft, ships, marine, fire and natural disasters, general losses, credits, financial losses, and legal protection. As of December 31, 2025, the Company’s subsidiary Anadolu Sigorta operates with a total of 3.280 agents, consisting of 3,139 authorized agents and 141 unauthorized agents (as of December 31, 2024: a total of 3.138 agents.) The subsidiary of the Company, Miltaş is engaged in all kinds of construction works, providing construction and contracting services domestically and internationally; carries out various architecture, engineering, construction, assembly, installation, landscaping, interior design, decoration jobs by executing studies, projects, supervision, consultancy and contracting services domestically and internationally; operates places in accommodation, leisure, travel, entertainment, sports, food and beverage by opening, leasing, subleasing and managing such places; engaging in all kinds of sports activities, leasing, subleasing and operating facilities of this kind.As of December 31, 2025, Miltaş employs 13 personnel. The Company’s subsidiary, Genesis, was established in 2025 as a Managing General Agent (MGA) company authorized to carry out various insurance activities on behalf of insurance or reinsurance companies, and it is expected to commence operations in 2026. 223 Notes to the Consolidated 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)