Milli Re 2025 Annual Report

As of December 31, 2025, and 2024, movements of the insurance liabilities and related reinsurance assets are presented below: Unearned premiums reserve December 31, 2025 Gross Ceded SSI Share Net Unearned premiums reserve at the beginning of the period 42.115.799.388 (6.186.511.289) (546.873.221) 35.382.414.878 Written premiums during the period 113.151.828.631 (22.487.440.984) (1.405.432.087) 89.258.955.560 Earned premiums during the period (97.800.405.764) 21.744.685.822 1.155.592.197 (74.900.127.745) Unearned premiums reserve at the end of the period 57.467.222.255 (6.929.266.451) (796.713.111) 49.741.242.693 Unearned premiums reserve December 31, 2024 Gross Ceded SSI Share Net Unearned premiums reserve at the beginning of the period 28.701.633.588 (4.797.310.036) (343.265.174) 23.561.058.378 Written premiums during the period 82.634.133.111 (20.350.894.270) (901.370.600) 61.381.868.241 Earned premiums during the period (69.219.967.311) 18.961.693.017 697.762.553 (49.560.511.741) Unearned premiums reserve at the end of the period 42.115.799.388 (6.186.511.289) (546.873.221) 35.382.414.878 Outstanding claims reserves December 31, 2025 Gross Ceded Net Outstanding claims reserve at the beginning of the period 40.588.786.606 (11.481.005.210) 29.107.781.396 Claims reported during the period and changes in the estimations of outstanding claims reserves provided at the beginning of the period 70.263.187.202 (9.196.938.087) 61.066.249.115 Claims paid during the period (54.555.119.058) 7.406.080.945 (47.149.038.113) Outstanding claims reserve at the end of the period 56.296.854.750 (13.271.862.352) 43.024.992.398 Outstanding claims reserves December 31, 2024 Gross Ceded Net Outstanding claims reserve at the beginning of the period 37.463.982.203 (16.122.814.162) 21.341.168.041 Claims reported during the period and changes in the estimations of outstanding claims reserves provided at the beginning of the period 45.403.132.760 (6.400.571.908) 39.002.560.852 Claims paid during the period (42.278.328.357) 11.042.380.860 (31.235.947.497) Outstanding claims reserve at the end of the period 40.588.786.606 (11.481.005.210) 29.107.781.396 294 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)