MILLI_RE_ANNUAL REPORT 2022

Liquidity risk Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset as a result of the imbalance between the Group’s cash inflows and outflows in terms of maturity and volume. The Group’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities. In respect of this risk which is measured by quantitative methods, any liquidity deficit is observed via the maturity analysis of assets and liabilities in the statement of balance sheet. Furthermore, liquidity structure of the Group is monitored by using the following basic indicators in respect of liquidity ratios: • Liquid Assets/Total Assets • Liquidity Ratio • Current Ratio • Premium and Reinsurance Receivables/Total Assets The results evaluated by the Risk Committee and reported regularly to the Board of Directors. Action plan is determined by the Board of Directors in the case of having exposure higher than acceptable level of risk and probability. Management of the liquidity risk The Group considers the maturity match between asset and liabilities for the purpose of avoiding liquidity risk and ensure that it will always have sufficient liquidity to meet its liabilities when due . Maturity distribution of monetary assets and liabilities: December 31, 2022 Book value Up to 1 month 1 to 3 months 3 to 6 months 6 to 12 months Over 1 year Assets Cash and cash equivalents 10.943.641.244 6.949.494.750 3.803.488.062 136.764.533 53.893.899 - Financial assets and financial investments with risks on policyholders (*) 12.385.912.362 2.847.675.456 362.620.950 245.858.041 976.849.032 7.952.908.883 Receivables from main operations 7.643.848.201 668.169.430 2.230.649.329 1.911.490.332 427.663.016 2.405.876.094 Other receivables and current assets 199.971.764 156.483.292 6.502.464 6.303.123 29.575.759 1.107.126 Total monetary assets 31.173.373.571 10.621.822.928 6.403.260.805 2.300.416.029 1.487.981.706 10.359.892.103 Liabilities Financial liabilities 99.915.061 18.751.852 5.107 7.579 10.889.626 70.260.897 Payables arising from main operations 2.596.858.889 610.549.537 502.355.492 548.686.494 893.461.333 41.806.033 Due to related parties 1.262.116 1.262.116 - - - - Other liabilities 381.363.305 343.519.844 12.892.612 - 24.950.849 - Insurance technical reserves (**) 13.199.847.470 1.138.063.241 1.954.420.290 2.663.673.173 1.000.692.585 6.442.998.181 Provisions for taxes and other similar obligations 394.550.536 291.780.585 102.769.951 - - - Provisions for other risks and expense accruals 651.059.351 133.815.801 56.771.151 - 194.656.421 265.815.978 Total monetary liabilities 17.324.856.728 2.537.742.976 2.629.214.603 3.212.367.246 2.124.650.814 6.820.881.089 (*) Equity shares amounting to TL 1.514.404.180 are not included. (**) Provisions for outstanding claims are subject to maturity distribution, taking into account the estimated payment dates, and all of the provisions for outstanding claims are presented under current liabilities in the accompanying consolidated financial statements. Provisions for outstanding claims that could not be distributed consistently are shown in the “more than 1 year” column. 225 MİLLİ RE 2022 ANNUAL REPORT Notes to the Consolidated 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