MILLI_RE_ANNUAL REPORT 2022

As at December 31, 2022 and 2021, receivables from main operations are detailed as follows: December 31, 2022 December 31, 2021 Receivables from insurance companies 373.732.189 197.350.065 Receivables from reinsurance companies (Note 10) 895.875.747 467.249.577 Receivables from agencies, brokers and intermediaries 159.960.121 109.364.567 Total receivables from reinsurance operations, net 1.429.568.057 773.964.209 Receivables from agencies, brokers and other intermediaries Receivables from insurance and reinsurance companies 3.898.531.449 175.515.037 2.178.274.951 430.432.842 Long term receivable which is bank guarantee and three months credit card 943.476.394 42.690.388 Salvage and subrogation receivables (Note 2.21) 202.751.310 142.555.437 Receivables from policyholders 47.533.914 133.135.883 Total receivables from insurance operations, net 5.267.808.104 2.927.089.501 Cash deposited to insurance and reinsurance companies (Note 4.2) 1.005.162.022 631.657.233 Provisions for receivables from insurance operations – subrogation receivables (Note 2.21) (58.689.982) (37.902.336) Doubtful receivables from main operations – premium receivables 117.934.272 102.222.152 Provision for doubtful receivables from main operations – premium receivables (117.934.272) (102.222.152) Doubtful receivables from insurance operations – subrogation receivables 702.048.592 512.028.247 Provisions for doubtful receivables from insurance operations – subrogation receivables (702.048.592) (512.028.247) Receivables from main operations 7.643.848.201 4.294.808.607 As of December 31, 2022, and 2021, mortgages and collaterals obtained for receivables are disclosed as follows: December 31, 2022 December 31, 2021 Mortgage notes 211.326.333 99.845.138 Letters of guarantees 279.676.711 162.734.100 Other guarantees 151.779.037 131.947.292 Government bonds and treasury bills 243.656 73.656 Total 643.025.737 394.600.186 Provisions for overdue receivables and receivables not due yet a) Receivables under legal or administrative follow up (due): TL 117.934.272 for main operations (December 31, 2021: TL 102.222.152) and TL 705.142 (December 31, 2021: TL 1.061.329) for other receivables. b) Provision for premium receivables (due): TL 760.738.574 (December 31, 2021: TL 549.930.583) The Company’s receivables from and payables to shareholders, associates and subsidiaries are detailed in Note 45 – Related party transactions. The details of the receivables and payables denominated in foreign currencies and foreign currency rates used for the translation are presented in Note 4.2– Financial risk management . 13 Derivative financial assets As of December 31, 2022, the Group has not have any derivative financial instruments recognized in the financial assets held for trading. (December 31, 2021: TL 9.288.303). As of December 31, 2022, the Group has accounted in income accruals and other financial liabilities amounting to TL 2.115.363 (December 31, 2021: TL 145.419.619) that is increase in value while there is TL (18.749.281) impairment balance under the other financial liabilities account (December 31, 2021: TL 326.794.946) due to forward foreign currency agreement. 243 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