MILLI_RE_ANNUAL REPORT 2022

Unearned premiums reserve December 31, 2021 Gross Ceded SSI Share Net Unearned premiums reserve at the beginning of the period 4.737.678.185 (1.089.324.599) (94.034.856) 3.554.318.730 Written premiums during the period 12.972.968.425 (3.329.771.438) (209.441.766) 9.433.755.221 Earned premiums during the period (10.955.773.81) 2.855.764.074 183.648.753 (7.916.361.017) Unearned premiums reserve at the end of the period 6.754.872.769 (1.563.331.963) (119.827.869) 5.071.712.934 Outstanding claims reserves December 31, 2022 Gross Ceded Net Outstanding claims reserve at the beginning of the period 11.605.438.124 (2.957.988.891) 8.647.449.234 Claims reported during the period and changes in the estimations of outstanding claims reserves provided at the beginning of the period 18.495.257.199 (3.391.961.453) 15.103.295.745 Claims paid during the period (12.338.631.967) 1.787.734.458 (10.550.897.509) Outstanding claims reserve at the end of the period 17.762.063.356 (4.562.215.886) 13.199.847.470 Outstanding claims reserves December 31, 2021 Gross Ceded Net Outstanding claims reserve at the beginning of the period 8.565.250.176 (2.179.921.969) 6.385.328.207 Claims reported during the period and changes in the estimations of outstanding claims reserves provided at the beginning of the period 9.619.250.798 (1.664.245.142) 7.955.005.656 Claims paid during the period (6.579.062.850) 886.178.220 (5.692.884.630) Outstanding claims reserve at the end of the period 11.605.438.124 (2.957.988.891) 8.647.449.233 Table of development of damages The main assumption used in estimating the provision for outstanding claims is Anadolu Sigorta’s previous experience of loss development. The Company management uses its own judgments in determining how external factors such as legal decisions or changes in laws will affect the outstanding claim provision. The sensitivity of some variables, such as legal changes and uncertainties in the estimation process, is not measurable. In addition, long delays between the occurrence of the damage and the time the payment is made prevent the precise determination of the provision for outstanding claims as of the end of the reporting period. Therefore, the total liabilities may change depending on the subsequent developments and the differences resulting from the re-estimation of the total liabilities are reflected in the financial statements in the following periods. 250 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 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