IST:AGESA Balance Sheet

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Investments in Equity & Preferred Securities	-	-	-	-	0.88	0.9
Policy Loans	799.02	790.13	679.16	569.56	376.79	297.74
Other Investments	3,782	3,395	2,116	786.28	757.34	195.49
Total Investments	8,627	9,877	5,253	2,252	1,994	878.01
Cash & Equivalents	10,923	8,948	5,752	2,115	1,079	844.56
Reinsurance Recoverable	2,221	1,574	867.08	-	-	-
Other Receivables	442,156	401,886	228,391	141,575	75,721	43,538
Separate Account Assets	39,021	36,153	22,950	15,363	7,357	4,258
Property, Plant & Equipment	934.11	912.13	305.02	133.5	98.45	79.85
Other Intangible Assets	1,882	1,724	693.27	420.27	236.64	139.22
Restricted Cash	310.06	270.06	195.33	80	13.56	201
Other Current Assets	5,701	4,778	3,462	2,930	949.65	214.12
Long-Term Deferred Tax Assets	490.06	343.69	376.79	203.28	115.62	43.04
Other Long-Term Assets	448.57	387.3	540.79	208.62	67.48	40.25
Total Assets	512,714	466,853	268,786	165,281	87,633	50,236
Accounts Payable	72.33	160.82	280.93	182.85	48.07	26.23
Accrued Expenses	1,800	1,582	1,075	603.46	261.12	136.13
Insurance & Annuity Liabilities	488,155	445,858	256,057	159,695	84,983	48,862
Unpaid Claims	856.53	814.69	460.85	156.85	124.67	82.39
Unearned Premiums	8,299	6,115	4,373	1,005	211.51	71.66
Current Portion of Leases	113.54	116.83	64.34	9.92	10.37	6.19
Current Income Taxes Payable	906.75	409.69	315.78	136.29	14.81	37.1
Long-Term Leases	229.41	207.14	160.29	50.83	29.14	26.7
Long-Term Deferred Tax Liabilities	-	7.63	-	-	-	-
Other Current Liabilities	1,591	1,176	395.25	234.53	81.97	49.14
Other Long-Term Liabilities	58.84	56.62	31.85	21	14.5	13.13
Total Liabilities	502,351	456,763	263,337	162,181	85,906	49,343
Common Stock	180	180	180	280	180	180
Retained Earnings	10,309	9,777	5,293	2,808	1,558	756.83
Comprehensive Income & Other	-125.44	133.9	-24.14	11.63	-11.53	-43.8
Shareholders' Equity	10,363	10,090	5,449	3,100	1,726	893.03
Total Liabilities & Equity	512,714	466,853	268,786	165,281	87,633	50,236
Filing Date Shares Outstanding	179.98	179.98	179.98	179.99	180	180
Total Common Shares Outstanding	179.98	179.98	179.98	179.99	180	180
Total Debt	342.95	323.96	224.63	60.75	39.51	32.89
Net Cash (Debt)	10,580	8,624	5,527	2,055	1,039	811.67
Net Cash Growth	50.85%	56.03%	169.02%	97.72%	28.03%	-0.58%
Net Cash Per Share	58.78	47.91	30.71	11.41	5.77	4.51
Book Value Per Share	57.58	56.06	30.27	17.22	9.59	4.96
Tangible Book Value	8,482	8,367	4,756	2,680	1,490	753.81
Tangible Book Value Per Share	47.13	46.49	26.42	14.89	8.28	4.19
Machinery	431.95	422.57	152.19	115.41	89.22	64.75