Milli Re 2025 Annual Report

As of December 31, 2025, and 2024, the Group’s available for sale financial assets are detailed as follows: December 31, 2025 Nominal value Cost Fair value Book Value Debt instruments: Government bonds - TRY 18.648.897.120 18.796.469.363 22.005.255.441 22.005.255.441 Government bonds - USD 4.613.822.265 5.548.892.942 6.165.599.429 6.165.599.429 Government bonds - EUR 840.780.787 1.152.715.710 1.339.116.073 1.339.116.073 Private sector bonds- TRY 2.332.500.000 2.325.654.750 2.487.948.547 2.487.948.547 Private sector bonds- USD 39.134.420 623.306.112 645.331.312 645.331.312 28.447.038.877 32.643.250.802 32.643.250.802 Non-fixed income financial assets: Equity shares 312.331.151 2.658.278.355 2.658.278.355 312.331.151 2.658.278.355 2.658.278.355 Total available for sale financial assets 28.759.370.028 35.301.529.157 35.301.529.157 December 31, 2024 Nominal value Cost Fair value Book Value Debt instruments: Government bonds - TRY 2.091.471.241 2.400.311.044 4.621.846.160 4.621.846.160 Government bonds - USD 4.774.987.863 4.726.946.763 5.346.977.292 5.346.977.292 Government bonds - EUR 99.792.400 630.473.133 1.080.860.500 1.080.860.500 Private sector bonds- TRY 599.400.000 580.742.000 599.417.528 599.417.528 Private sector bonds- USD 195.407.500 837.716.378 872.878.322 872.878.322 Private sector bonds- EUR 36.736.200 36.773.108 38.103.112 38.103.112 9.212.962.426 12.560.082.914 12.560.082.914 Non-fixed income financial assets: Equity shares 136.530.191 2.242.647.728 2.242.647.728 Investment funds 27.000.000 27.944.617 27.944.617 163.530.191 2.270.592.345 2.270.592.345 Total available for sale financial assets 9.376.492.617 14.830.675.259 14.830.675.259 All debt instruments presented above are traded in the capital markets, As of December 31, 2025, equity shares classified as available for sale financial assets with a carrying amount of TRY 1.606.239 are not publicly traded (December 31, 2024: TRY 805.244). 284 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)