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MILLI_RE_ANNUAL REPORT 2022

As of December 31, 2022, and 2021, technical reserves of the Company are as follows: December 31, 2022 December 31, 2021 Unearned premiums reserve, gross 2.293.557.896 1.187.333.155 Unearned premiums reserve, ceded (Note 10) (49.314.693) (23.649.245) Unearned premiums reserve, net 2.244.243.203 1.163.683.910 Outstanding claims reserve, gross 4.174.390.046 2.375.596.576 Outstanding claims reserve, ceded (Note 10) (129.947.122) (106.787.271) Outstanding claims reserve, net 4.044.442.924 2.268.809.305 Unexpired risks reserve, gross 13.916.585 158.300.804 Unexpired risks reserve, ceded (Note 10) (752.399) (2.455.087) Unexpired risks reserve, net 13.164.186 155.845.717 Equalization reserve, net 405.400.733 245.855.051 Mathematical reserves - - Total technical reserves, net 6.707.251.046 3.834.193.983 Short-term 6.301.850.313 3.588.338.932 Medium and long-term 405.400.733 245.855.051 Total technical reserves, net 6.707.251.046 3.834.193.983 As of December 31, 2022, and 2021, movements of the insurance liabilities and related reinsurance assets are presented below: Unearned premiums reserve December 31, 2022 Gross Ceded Net Unearned premiums reserve at the beginning of the period 1.187.333.155 (23.649.245) 1.163.683.910 Written premiums during the period 4.808.430.037 (701.343.384) 4.107.086.653 Earned premiums during the period (3.702.205.296) 675.677.936 (3.026.527.360) Unearned premiums reserve at the end of the period 2.293.557.896 (49.314.693) 2.244.243.203 Unearned premiums reserve December 31, 2021 Gross Ceded Net Unearned premiums reserve at the beginning of the period 840.067.426 (20.130.822) 819.936.604 Written premiums during the period 2.482.605.065 (330.959.315) 2.151.645.750 Earned premiums during the period (2.135.339.336) 327.440.892 (1.807.898.444) Unearned premiums reserve at the end of the period 1.187.333.155 (23.649.245) 1.163.683.910 157 MİLLİ RE 2022 ANNUAL REPORT Notes to the Unconsolidated Financial Statements As of December 31, 2022 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1 RISKS AND ASSESSMENT OF THE GOVERNING BODY UNCONSOLIDATED FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITORS’ REPORT THEREON CONSOLIDATED FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITORS’ REPORT THEREON FINANCIAL STATUS

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