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) December 31, 2023 and 2022, the aging of the receivables from main operations and related provisions are as follows: December 31, 2023 December 31, 2022 Gross amount Provision Gross amount Provision Not past due 3.987.418.075 - 909.853.472 - Past due 0-30 days 4.251.560 - 14.681.533 - Past due 31-60 days 3.415.191 - - - Past due 61-90 days 827.664 - 12.641.076 - More than 90 days 245.909.951 (153.566.800) 164.804.266 (78.486.484) Total 4.241.822.441 (153.566.800) 1.101.980.347 (78.486.484) The movements of the allowances for impairment losses for receivables from main operations during the year are as follows: December 31, 2023 December 31, 2022 Provision for receivables from insurance operations at the beginning of the year 78.486.484 63.257.777 Collections during the period (Note 47) - - Provisions for doubtful receivables during the period ( Note 47) 30.918.223 - Foreign currency translation effect (Note 47) 44.162.093 15.228.707 Provision for receivables from insurance operations at the end of the year 153.566.800 78.486.484 The movements of the allowances for impairment losses for other receivables are as follows: December 31, 2023 December 31, 2022 Provision for other receivables at the beginning of the year 705.142 1.061.329 Impairment losses provided during the period (Note 47) - (356.187) Provision for other receivables at the end of the year 705.142 705.142 Liquidity risk Liquidity risk is the risk that the Company 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 Company’s cash inflows and outflows in terms of maturity and volume. The Company’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 Company 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 Company 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 . 130 MİLLİ RE