Milli Re 2025 Annual Report

Explanatory note for the amounts and nature of previous years’ income and losses None. As of and for the year ended December 31, 2025 and 2024, details of discount and provision expenses are as follows: January 1 - December 31, 2025 January 1 - December 31, 2024 Provision expense/income for doubtful receivables (*) (1.474.402.897) (647.088.499) Provision for pension fund deficits (324.995.929) (315.259.415) Provision expense for employee termination benefits (Note 23) (47.688.850) 63.894.943 Provision expenses for unused vacation (Note 23) (29.157.965) (23.661.059) Terminated provision income/(expense) 197.454 1.013.564 Other provision expenses (8.386.345) (31.847.483) Provision expenses (1.884.434.532) (952.947.949) (*) The provision expense for doubtful receivables arises from the valuation of foreign currency denominated doubtful receivables from insurance operations and main activities, as well as from the doubtful receivable provisions allocated in the current period. January 1 - December 31, 2025 January 1 - December 31, 2024 Rediscount income/(expense) from main operations receivables 1.169.470.844 (1.149.018.628) Rediscount income/(expense) from main operations payables (1.395.372.495) 770.036.205 Total of rediscounts (225.901.651) (378.982.423) Fees related to services obtained from the Group’s Independent Auditor/Independent Audit Firm (*) : December 31, 2025 (**) December 31, 2024 Independent audit fee for the reporting period 26.449.879 7.405.741 Fees for tax advisory services 1.550.000 2.078.030 Non audit assurance services 5.234.650 - Total 33.234.529 9.483.771 (*) It is the fee excluding VAT. (**) The fees for the current period include the assurance audit of the 2024 TSRS sustainability report conducted in 2025 following the approval of the financial statements for the fiscal period of January 1 - December 31, 2024, as well as the audit fees for the IFRS 17 financial statements from previous periods. 312 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)