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) As of December 31, 2023, the amounting of the expense accruals TL 39.421.809 (December 31, 2022: TL 17.174.294) are detailed in the table below. December 31,2023 December 31, 2022 Dividend accrual 14.165.226 7.368.043 Other accruals 25.256.583 9.806.251 Total 39.421.809 17.174.294 Prepaid income and expense accruals are TL 391.612 (December 31, 2022: TL 270.806) consist of long-term and short term other deferred income. Corporate tax liabilities and prepaid taxes are disclosed below: December 31, 2023 December 31, 2022 Taxes paid during the year 9.170.386 13.673.790 Corporate tax liabilities - - Prepaid assets, net 9.170.386 13.673.790 Total amount of investment incentives which will be benefited in current and forthcoming periods None. 20 Financial liabilities As of 31 December 2023 and 2022, discounted repayment plans for the Company’s operating leases are as follows: December 31, 2023 December 31, 2022 Within one year 13.252.134 30.126 1 yıldan uzun 16.593.962 96.133 Total 29.846.096 126.259 21 Deferred tax As of December 31, 2023, and 2022, deferred tax assets and liabilities are attributable to the following: December 31, 2023 December 31, 2022 Deferred tax assets/(liabilities) Deferred tax assets/(liabilities) Unexpired risks reserve 10.148.069 3.291.046 Equalization provision 1.099.686 59.979.691 Provision for the pension fund deficits 101.784.902 58.816.795 Provisions for employee termination benefits 6.608.445 7.637.199 Provision for doubtful receivables 12.899.994 1.946.412 Personnel bonus accrual 4.249.568 1.842.012 Valuation differences in financial assets (37.779.613) 6.012.445 Rediscount of receivables and payables 130.202 (26.240) Time deposits 289.568 398.499 Amortization correction differences 17.460.381 (1.739.745) Profit commission accrual (19.400.593) (10.968.672) Real estate valuation differences (6.565.100) (294.503.668) Prepaid expenses 484.096 - Deferred tax (liabilities)/assets, net 91.409.605 (167.314.226) 151 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