Milli Re 2025 Annual Report

December 31, 2024 Book value Up to 1 month 1 to 3 months 3 to 6 months 6 to 12 months Over 1 year Assets Cash and cash equivalents 28.723.699.579 14.719.933.070 13.459.991.672 375.658.419 168.116.418 - Financial assets (*) 36.440.883.206 22.619.983.431 1.254.321.956 3.413.651.942 7.885.445.894 1.267.479.983 Receivables from main operations 19.988.016.871 2.801.051.710 6.195.420.880 4.733.966.108 5.825.924.252 431.653.921 Other receivables and current assets 1.056.546.961 680.423.254 24.458.107 38.395.794 312.719.926 549.880 Total monetary assets 86.209.146.617 40.821.391.465 20.934.192.615 8.561.672.263 14.192.206.490 1.699.683.784 Liabilities Financial liabilities 230.916.234 1.314.057 2.583.126 3.766.083 55.098.052 168.154.916 Payables arising from main operations 8.681.517.422 459.474.541 1.427.666.946 780.162.782 6.014.174.273 38.880 Due to related parties 13.571.284 13.571.284 - - - - Other liabilities 1.077.319.956 680.541.839 350.634.931 - 46.143.186 - Outstanding Claims Reserve - Net (**) 29.107.781.396 2.574.397.566 4.266.370.914 5.070.668.031 7.583.031.642 9.613.313.244 Provisions for taxes and other similar obligations 1.811.692.682 882.697.119 917.900.121 11.095.442 - - Provisions for other risks and expense accruals 2.611.581.242 36.595.829 211.492.052 - 1.494.556.000 868.937.362 Total monetary liabilities 43.534.380.216 4.648.592.235 7.176.648.090 5.865.692.338 15.193.003.153 10.650.444.402 (*) Equity shares amounting to TRY 6.463.281.685 are not included. (**) Provisions for outstanding claims are subject to maturity distribution, taking into account the estimated payment dates, and all of the provisions for outstanding claims are presented under current liabilities in the accompanying consolidated financial statements. Provisions for outstanding claims that could not be distributed consistently are shown in the “more than 1 year” column. Market risk Market risk is the risk that changes in market prices, such as interest rate, foreign exchange rates and credit spreads will affect the Group’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimizing the return on risk. Foreign currency risk The Group is exposed to foreign currency risk through insurance and reinsurance transactions in foreign currencies. Foreign exchange gains and losses arising from foreign currency transactions are recorded at transaction dates. At the end of the reporting periods, foreign currency assets and liabilities evaluated by the Central Bank of the Republic of Turkey’s spot purchase rates and the differences arising from foreign currency rates are recorded as foreign exchange gain or loss in the statement of operations. 270 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)