MILLI_RE_ANNUAL REPORT 2022

29 Insurance rights and claims December 31, 2022 December 31, 2021 Life Non-Life Life Non-Life Claims paid, net off reinsurers’ share (9.292.133) (2.311.827.218) (10.115.740) (1.305.915.455) Changes in outstanding claims reserve, net off reinsurers’ share 9.915.129 (1.785.548.748) (5.258.180) (632.097.384) Changes in unearned premiums reserve, net off reinsurers’ share (1.633.068) (1.078.926.225) 11.000.553 (354.747.859) Changes in unexpired risks reserve, net off reinsurers’ share 948.523 141.733.008 (948.523) (106.748.800) Change in equalization reserve, net off reinsurers’ share (101.352) (159.444.330) (5.725) (61.176.976) Change in life mathematical reserves, net off reinsurers’ share - - 13.014 - Total (162.901) (5.194.013.513) (5.314.601) (2.460.686.474) 30 Investment contract benefits None. 31 Other expenses The allocation of the expenses with respect to their nature or function is presented in Note 32 – Expenses by nature below. 32 Operating expenses As of December 31, 2022, and 2021, the operating expenses are disclosed as follows: December 31, 2022 December 31, 2021 Life Non-Life Life Non-Life Commission expenses (Note 17) 4.622.090 829.659.849 1.643.480 496.184.109 Commissions to the intermediaries accrued during the period (Note 17) 4.757.807 1.086.672.150 (2.331.747) 580.779.381 Changes in deferred commission expenses (Note 17) (135.717) (257.012.301) 3.975.227 (84.595.272) Employee benefit expenses (Note 33) 556.571 133.499.893 562.370 75.108.617 Foreign exchange losses 228.373 266.056.619 674.908 162.304.196 Administration expenses 215.306 45.790.907 219.627 25.380.454 Commission income from reinsurers (Note 10) - (16.634.487) - (8.838.442) Commission income from reinsurers accrued during the period (Note 10) - (25.072.841) - (10.175.548) Change in deferred commission income (Note 10) - 8.438.354 - 1.337.106 Outsourced benefits and services 63.145 12.080.160 67.763 7.297.745 Other 26.451 23.041.353 35.542 14.153.408 Total 5.711.936 1.293.494.294 3.203.690 771.590.087 164 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 GENERAL INFORMATION FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RESEARCH & DEVELOPMENT ACTIVITIES ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES