Milli Re 2025 Annual Report

As at December 31, 2025 and 2024, receivables from main operations are detailed as follows: December 31, 2025 December 31, 2024 Receivables from insurance companies 1.469.626.724 1.332.398.229 Receivables from reinsurance companies (Note 10) 3.171.511.793 2.521.327.822 Receivables from agencies, brokers and intermediaries 587.544.886 920.485.381 Total receivables from reinsurance operations, net 5.228.683.403 4.774.211.432 Receivables from agencies, brokers and other intermediaries 13.567.436.820 9.729.119.692 Long term receivable which is bank guarantee and three months credit card 6.847.066.520 2.488.815.298 Receivables from insurance and reinsurance companies 1.034.793.892 706.208.454 Salvage and subrogation receivables (Note 2.21) 952.432.345 723.408.965 Receivables from insurance and reinsurance companies 231.691.852 99.262.922 Total receivables from insurance operations, net 22.633.421.429 13.746.815.331 Cash deposited to insurance and reinsurance companies (Note 4.2) 2.906.305.025 1.683.352.236 Provisions for receivables from insurance operations - subrogation receivables (Note 2.21) (308.750.949) (216.362.128) Doubtful receivables from main operations - premium receivables 358.285.914 354.952.449 Provision for doubtful receivables from main operations - premium receivables (358.285.914) (354.952.449) Doubtful receivables from insurance operations - subrogation receivables 2.939.533.184 1.469.513.028 Provisions for doubtful receivables from insurance operations - subrogation receivables (2.939.533.184) (1.469.513.028) Receivables from main operations 30.459.658.908 19.988.016.871 As of December 31, 2025, and 2024, mortgages and collaterals obtained for receivables are disclosed as follows: December 31, 2025 December 31, 2024 Mortgage notes 343.557.682 331.150.182 Letters of guarantees 852.327.133 1.007.232.743 Other guarantees 1.068.531.098 992.943.682 Government bonds and treasury bills - 230.000 Total 2.264.415.913 2.331.556.607 Provisions for overdue receivables and receivables not due yet a) Receivables under legal or administrative follow up (due): TRY 358.285.914 for main operations (December 31, 2024: TRY 354.952.449) and TRY 705.142 (December 31, 2024: TRY 705.142) for other receivables.. b) Provision for premium receivables (due): TRY 3.248.284.133 (December 31, 2024: TRY 1.685.875.156) The Company’s receivables from and payables to shareholders, associates and subsidiaries are detailed in Note 45 - Related party transactions . The details of the receivables and payables denominated in foreign currencies and foreign currency rates used for the translation are presented in Note 4.2- Financial risk management . 287 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)