Milli Re 2025 Annual Report

As of December 31, 2025, and 2024, the Group’s financial assets held for trading are detailed as follows: December 31, 2025 Cost Fair value Book value Non-fixed income financial assets: Investment funds 13.351.134.056 25.706.241.660 25.706.241.660 Investment funds YP 1.372.393.585 1.531.971.880 1.531.971.880 Equity shares 1.424.718.785 1.390.407.088 1.390.407.088 Futures and options guarantees 6.043.730 6.048.878 6.048.878 16.154.290.156 28.634.669.506 28.634.669.506 Total financial assets held for trading 16.154.290.156 28.634.669.506 28.634.669.506 December 31, 2024 Cost Fair value Book value Non-fixed income financial assets: Investment funds 14.524.012.546 21.559.814.485 21.559.814.485 Investment funds YP 573.285.998 571.764.574 571.764.574 Equity shares 4.403.715.323 4.220.633.960 4.220.633.960 Futures and options guarantees 230.259.174 235.256.132 235.256.132 Derivative guarantees (Currency protected deposits) 1.072.589.705 1.149.065.599 1.149.065.599 20.803.862.746 27.736.534.750 27.736.534.750 Total financial assets held for trading 20.803.862.746 27.736.534.750 27.736.534.750 283 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)