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Milli Re 2025 Annual Report

Gains and losses recognized in the consolidated statement of income in accordance with existing insurance and retrocession contracts are as follows: December 31, 2025 December 31, 2024 Premiums ceded during the period (Note 17) (22.487.440.984) (20.350.894.270) Unearned premiums reserve, ceded at the beginning of the period (Note 17) (6.186.511.289) (4.797.310.036) Unearned premiums reserve, ceded at the end of the period (Note 17) 6.929.266.451 6.186.511.289 Earned premiums, ceded (Note 17) (21.744.685.822) (18.961.693.017) Claims paid, ceded during the period (Note 17) 7.406.080.945 11.042.380.860 Outstanding claims reserves, ceded at the beginning of the period (Note 17) (11.481.005.210) (16.122.814.162) Outstanding claims reserves, ceded at the end of the period (Note 17) 13.271.862.352 11.481.005.210 Incurred claims, ceded (Note 17) 9.196.938.087 6.400.571.908 Commission income accrued from reinsurers during the period (Note 32) 1.965.121.388 1.347.834.282 Deferred commission income at the beginning of the period (Note 19) 943.652.041 644.038.671 Deferred commission income at the end of the period (Note 19) (900.159.962) (943.652.041) Commission income earned from reinsurers (Note 32) 2.008.613.467 1.048.220.912 Changes in unexpired risk reserves, reinsurers’ share (Note 17) (79.542.390) (316.447.194) Total, net (10.618.676.658) (11.829.347.391) 11 Financial assets As of December 31, 2025, and 2024, the Group’s financial assets are detailed as follows: December 31, 2025 December 31, 2024 Available for sale financial assets 35.301.529.157 14.830.675.259 Financial assets held for trading 28.634.669.506 27.736.534.750 Impairment loss on available for sale financial assets - 336.954.882 Total 63.936.198.663 42.904.164.891 282 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)

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