Milli Re 2025 Annual Report

33 Employee benefit expenses As of December 31, 2025, and 2024, employee benefit expenses are disclosed as follows: January 1 - December 31, 2025 January 1 - December 31, 2024 Wages and salaries 3.955.126.586 3.438.539.323 Employer’s share in social security premiums 1.278.426.802 863.206.018 Pension fund benefits 158.457.437 61.614.975 Other 334.815.656 226.288.576 Total (Note 32) 5.726.826.481 4.589.648.892 34 Financial costs As of December 31, 2025, interest expense arising from the leases that the Group has subject to TFRS 16 Leasing Standards amounting to TRY 48.396.210 (31 December 2025: TRY 43.624.128) has accounted under “Investment Management Expenses - Including Interest”; amortization expense amounting to TRY 77.704.075 has been accounted under “Depreciation and Amortization Expense” accounts (January 1 - December 31, 2024: TRY 59.322.796). As of December 31, 2025, discounted repayment plans for the Group’s operating leases are as follows (December 31, 2024: TRY 230.916.234): Operating lease repayments -TRY Up to 1 year 40.358.521 1 - 2 years 66.365.062 2 - 3 years 59.791.651 Total 166.515.234 35 Income tax Income tax expense in the accompanying consolidated financial statements is as follows: January 1 - December 31, 2025 January 1 - December 31, 2024 Current tax expense provision: Corporate tax provision (3.773.887.472) (3.278.435.206) Deferred taxes expense/income: Origination and reversal of temporary differences (148.449.513) (155.885.646) Total income tax expense/(income) (3.922.336.985) (3.434.320.852) (*) The offset for the Corporate Tax Provision is included in the “Deferred Tax Asset Account 306 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)