MILLI RE 2023 ANNUAL REPORT

Notes to the Unconsolidated Financial Statements As of December 31, 2023 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) Insurance risk concentrations The Company’s gross and net insurance risk concentrations (net of reinsurer share) in terms of insurance branches are summarized as below: Branches December 31, 2023 Gross total claims liability (*) Reinsurance share of total claims liability Net total claims liability Fire and Natural Disasters 10.630.493.085 (7.579.866.355) 3.050.626.730 General Losses 1.014.234.797 (9.621.848) 1.004.612.949 Sea Vehicles 194.713.991 (19.056.273) 175.657.718 Land Vehicles Liability (MTPL) 122.487.913 (20.674) 122.467.239 Marine 130.022.396 (9.014.277) 121.008.119 General Liabilities 114.262.623 (1.333.033) 112.929.590 Land Vehicles 35.632.466 (30.689) 35.601.777 Financial Losses 27.025.157 (1.308.113) 25.717.044 Accident 23.964.451 (86.281) 23.878.170 Life 9.400.117 (2.568.630) 6.831.487 Air Vehicles 5.444.820 - 5.444.820 Health 4.437.711 - 4.437.711 Fidelity Guarantees 3.126.615 (70.409) 3.056.206 Credit 306.106 - 306.106 Legal Protection 6.745 - 6.745 Total 12.315.558.993 (7.622.976.582) 4.692.582.411 Branches December 31, 2022 Gross total claims liability (*) Reinsurance share of total claims liability Net total claims liability Fire and natural disasters 1.362.849.696 (76.749.524) 1.286.100.172 General Losses 648.262.475 (7.079.230) 641.183.245 Sea Vehicles 131.776.401 (12.877.478) 118.898.923 Land vehicles liability (MTPL) 72.197.651 (74.132) 72.123.519 General liabilities 65.032.276 (853.158) 64.179.118 Marine 67.729.846 (3.586.418) 64.143.428 Accident 22.010.989 (293.148) 21.717.841 Land Vehicles 17.603.249 (58.876) 17.544.373 Financial Losses 17.412.281 (454.968) 16.957.313 Life 9.673.464 (381.331) 9.292.133 Fidelity Guarantees 3.952.035 (3.932) 3.948.103 Health 2.929.038 - 2.929.038 Air Vehicles 1.532.403 - 1.532.403 Credit 564.341 - 564.341 Legal protection 5.111 - 5.111 Sea vehicles liabilities 290 - 290 Total 2.423.531.546 (102.412.195) 2.321.119.351 (*) Total claims liability includes outstanding claims reserve (paid). Effects of the changes in assumptions used in the measurement of insurance assets and liabilities showing the effect of each change separately that has significant effect on financial statements In the current year, there are no material changes in the assumptions of measurement of insurance assets and liabilities. 128 MİLLİ RE