Milli Re 2025 Annual Report

December 31, 2025 and 2024, the aging of the receivables from main operations and related provisions are as follows: December 31, 2025 December 31, 2024 Gross Amount Provision Gross Amount Provision Not past due 27.386.777.839 - 17.953.804.222 - Past due 0-30 days 2.304.499.940 (46.461.137) 1.364.374.375 (27.859.547) Past due 31-60 days 312.566.725 (34.145.509) 318.184.906 (20.847.644) Past due 61-90 days 285.112.847 (40.756.406) 169.935.735 (21.032.361) More than 90 days (*) 3.777.271.602 (3.485.206.993) 2.222.545.238 (1.971.088.053) TOTAL 34.066.228.953 (3.606.570.045) 22.028.844.476 (2.040.827.605) (*) As per the February 3, 2005 dated and B.02.1.HM.O.SGM.0.3.1/01/05 numbered Circular issued by the Republic of Turkey Ministry of Treasury and Finance, in case where subrogation is subject to claim/legal action, related subrogation amount is recognized as doubtful receivables and allowance for doubtful receivables is provided by the same amount in the financial statements. Related amounts are presented in “More than 90 days” line in the above table. The movements of the allowances for impairment losses for receivables from main operations during the period are as follows: December 31, 2025 December 31, 2024 The beginning of the year - January 1 1.824.465.476 1.178.370.771 Collections during the period (Note 47) (197.454) (1.013.564) Impairment losses provided during the period (Note 47) (43.810.717) 139.238.828 Impairment losses provided for subrogation - salvage receivables during the period (Note 47) 1.470.246.256 482.959.557 Fx exchange Valuation of doubtful receivables (Note 47) 47.115.537 24.909.884 The end of the year - December 31 3.297.819.098 1.824.465.476 Liquidity risk Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset as a result of the imbalance between the Group’s cash inflows and outflows in terms of maturity and volume. The Group’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities . In respect of this risk which is measured by quantitative methods, any liquidity deficit is observed via the maturity analysis of assets and liabilities in the statement of balance sheet. Furthermore, liquidity structure of the Group is monitored by using the following basic indicators in respect of liquidity ratios: – Liquidity ratio related to funding – Liquidity ratio related to the market – Current Ratio The results evaluated by the Audit Committee and reported regularly to the Board of Directors. Action plan is determined by the Board of Directors in the case of having exposure higher than acceptable level of risk and probability.. 268 MİLLÎ REASÜRANS 2025 Annual Report Notes to the Consolidated 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)