Milli Re 2025 Annual Report

Value increases in financial assets including equity shares classified as available for sale financial assets and subsidiaries for the last 3 years (including tax effects, excluding minority interest: Year Change in value increase Total increase in value 2025 465.750.453 2.330.457.161 2024 288.405.332 1.864.706.708 2023 800.341.974 1.576.301.376 As of December 31, 2025, there are no financial assets held to maturity. As of December 31, 2024, the Group’s held to maturity financial assets portfolio are detailed as follow : December 31, 2024 Nominal value Cost Fair value Net book value Debt instruments: Government bonds - EUR 325.445.996 326.271.969 338.277.261 336.954.882 Total held to maturity financial assets 326.271.969 338.277.261 336.954.882 As of December 31, 2025, and 2024, the movement of the financial assets is presented below: December 31, 2025 Trading Available-for-Sale Held to maturity Total Balance at the beginning of the period 27.736.534.750 14.830.675.259 336.954.882 42.904.164.891 Acquisitions during the period 139.917.877.427 35.657.253.799 - 175.575.131.226 Disposals (sale and redemption) (146.458.742.681) (19.707.332.649) (336.954.882) (166.503.030.212) Change in the fair value of financial assets 7.439.000.010 4.520.932.748 - 11.959.932.758 Balance at the end of the period 28.634.669.506 35.301.529.157 - 63.936.198.663 December 31, 2024 Trading Available-for-Sale Held to maturity Total Balance at the beginning of the period 14.388.404.707 13.902.404.460 329.439.782 28.620.248.949 Acquisitions during the period 71.695.685.793 15.246.063.722 - 86.941.749.515 Disposals (sale and redemption) (65.016.553.152) (18.095.135.577) (49.794.036) (83.161.482.765) Change in the fair value of financial assets 6.668.997.402 3.777.342.654 57.309.136 10.503.649.192 Balance at the end of the period 27.736.534.750 14.830.675.259 336.954.882 42.904.164.891 285 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)