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) Outstanding claims reserve December 31, 2023 Gross Ceded Net Outstanding claims reserve at the beginning of the period 4.174.390.046 (129.947.122) 4.044.442.924 Claims reported during the period and changes in the estimations of outstanding claims reserve provided at the beginning of the period 20.901.595.604 (13.312.351.131) 7.589.244.473 Claims paid during the period (12.315.558.993) 7.622.976.582 (4.692.582.411) Discount effect (935.028.799) 11.917.580 (923.111.219) Outstanding claims reserve at the end of the period 11.825.397.858 (5.807.404.091) 6.017.993.767 Outstanding claims reserve December 31, 2022 Gross Ceded Net Outstanding claims reserve at the beginning of the period 2.375.596.576 (106.787.271) 2.268.809.305 Claims reported during the period and changes in the estimations of outstanding claims reserve provided at the beginning of the period 4.732.308.654 (133.099.597) 4.599.209.057 Claims paid during the period (2.423.531.546) 102.412.195 (2.321.119.351) Discount effect (509.983.638) 7.527.551 (502.456.087) Outstanding claims reserve at the end of the period 4.174.390.046 (129.947.122) 4.044.442.924 Total amount of guarantee that should be placed by the Company for life and non-life branches and guarantees placed for the life and non-life branches in respect of related assets The Company, being a reinsurance Company, has no obligation of providing guarantees. Total amount of insurance risk on a branch basis Total amount of insurance risk on branch basis for non-life insurance branch is not kept by the Company. Company’s number of life insurance policies, additions, disposals during the year and the related mathematical reserves None. Distribution of new life insurance policyholders in terms of numbers and gross and net premiums as individual or group during the period None. Distribution of mathematical reserves for life insurance policyholders who left the Company’s portfolio as individual or group during the period None. Pension investment funds established by the Company and their unit prices None. Number and amount of participation certificates in portfolio and circulation None. Portfolio amounts in terms of number of new participants, left or cancelled participants, and existing participants for individuals and groups None. Valuation methods used in profit share calculation for saving life contracts with profit sharing None. Distribution of new participants in terms of their numbers and gross and net contributions for individuals and groups None. 149 2023 Annual Report GENERAL INFORMATION FINANCIAL RIGHTS PROVIDEDTOTHE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RISKS AND ASSESSMENT OF THE GOVERNING BODY ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES RESEARCH & DEVELOPMENT ACTIVITIES FINANCIAL STATUS FINANCIAL INFORMATION