MILLI_RE_ANNUAL REPORT 2022

Valuation methods used in profit share calculation for saving life contracts with profit sharing None. Distribution of new participants in terms of their numbers and gross and net contributions for individuals and groups None. Distribution of new participants in terms of their numbers and gross and net contributions for individuals and groups which were transferred from other insurance companies during the year None. Distribution of individual and group participants and their gross and net contributions which were transferred from life insurance portfolio to private pension portfolio during the year None. Distribution of individual and group participants which were cancelled or transferred to other insurance companies in terms of their numbers and gross and net contributions None. Profit share distribution rate of life insurances None. Deferred commission expenses The Company capitalizes commissions paid to the intermediaries related to policy production under short-term and long-term prepaid expenses. As of December 31, 2022, deferred production expenses amounting to TL 540.362.676 (31 Aralık 2021: 281.625.876 TL) deferred production commissions amounting to TL 537.519.645 (31 December 2021: TL 280.371.627) and deferred loss surplus amounting to TL 2.843.031 (31 December 2021: TL 1.254.249) It consists of premiums. As of December 31, 2022, and 2021, the movement of deferred commission expenses is presented below: December 31, 2022 December 31, 2021 Deferred commission expenses at the beginning of the period 280.371.627 199.751.582 Commissions accrued during the period (Note 32) 1.091.429.957 578.447.634 Commissions expensed during the period (Note 32) (834.281.939) (497.827.589) Deferred commission expenses at the end of the period 537.519.645 280.371.627 18 Investment contract liabilities None. 159 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