MILLI RE 2023 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi The accompanying notes are an integral part of these consolidated financial statements. (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) ASSETS II- Non-Current Assets Note Audited Current Period December 31, 2023 Audited Prior Period December 31, 2022 A- Receivables From Main Operations 395.937.136 211.913.101 1- Receivables From Insurance Operations - - 2- Provision for Receivables From Insurance Operations (-) - - 3- Receivables From Reinsurance Operations 4.2,12 381.273.026 108.746.186 4- Provision for Receivables From Reinsurance Operations (-) - - 5- Cash Deposited for Insurance & Reinsurance Companies 4.2,12 14.664.110 103.166.915 6- Loans to Policyholders - - 7- Provision for Loans to Policyholders (-) - - 8- Receivables From Pension Operations - - 9- Doubtful Receivables from Main Operations 4.2,12 153.566.800 78.486.484 10- Provision for Doubtful Receivables from Main Operations 4.2,12 (153.566.800) (78.486.484) B- Due from Related Parties - - 1- Due from Shareholders - - 2- Due from Affiliates - - 3- Due from Subsidiaries - - 4- Due from Joint Ventures - - 5- Due from Personnel - - 6- Due from Other Related Parties - - 7- Discount on Receivables Due from Related Parties (-) - - 8- Doubtful Receivables Due from Related Parties - - 9- Provisions for Doubtful Receivables Due from Related Parties (-) - - C- Other Receivables 4.2,12 324.555 324.555 1- Leasing Receivables - - 2- Unearned Leasing Interest Income (-) - - 3- Deposits and Guarantees Given 4.2,12 324.555 324.555 4- Other Receivables - - 5- Discount on Other Receivables (-) - - 6- Other Doubtful Receivables - - 7- Provisions for Other Doubtful Receivables (-) - - D- Financial Assets 9 1.354.386.089 732.426.627 1- Investments In Associates - - 2- Affiliates 9 1.354.386.089 727.903.437 3- Capital Commitments to Affiliates (-) - - 4- Subsidiaries 9 - 4.523.190 5- Capital Commitments to Subsidiaries (-) - - 6- Joint Ventures - - 7- Capital Commitments to Joint Ventures (-) - - 8- Financial Assets and Investments with Risks on Policy Holders - - 9- Other Financial Assets - - 10- Diminution in Value of Financial Assets (-) - - E- Tangible Fixed Assets 6 5.425.308.231 2.857.193.478 1- Investment Properties 6,7 4.890.602.000 1.894.516.000 2- Diminution in Value for Investment Properties (-) - - 3- Buildings for Own Use 6 215.104.000 802.940.000 4- Machinery and Equipments 6 188.791.920 138.654.988 5- Furnitures and Fixtures 6 67.901.403 49.504.580 6- Vehicles 6 13.489.028 12.062.655 7- Other Tangible Assets (Including Leasehold Improvements) 6 97.776.415 36.384.889 8- Leased Tangible Fixed Assets 6 187.439.190 108.430.175 9- Accumulated Depreciation (-) 6 (255.458.176) (196.744.694) 10- Advances Paid for Tangible Fixed Assets (Including Construction In Progresses) 6 19.662.451 11.444.885 F- Intangible Fixed Assets 8 391.411.829 304.557.951 1- Rights 8 526.278.411 471.857.967 2- Goodwill 8 16.250.000 16.250.000 3- Establishment Costs - - 4- Research and Development Expenses 8 18.657.453 896.749 6- Other Intangible Assets - - 7- Accumulated Amortizations (-) 8 (433.942.972) (355.227.517) 8- Advances Regarding Intangible Assets 8 264.168.937 170.780.752 G- Prepaid Expenses and Income Accruals 3.421.242 23.157.901 1- Deferred Commission Expenses 17 2.160.700 22.375.330 2- Accrued Interest and Rent Income - - 3- Other Prepaid Expenses 4.2 1.260.542 782.571 H- Other Non-current Assets 21 843.879.875 183.130.486 1- Effective Foreign Currency Accounts - - 2- Foreign Currency Accounts - - 3- Inventories - - 4- Prepaid Taxes and Funds - - 5- Deferred Tax Assets 21 843.879.875 183.130.486 6- Other Non-current Assets - - 7- Other Non-current Assets Amortization (-) - - 8- Provision for Other Non-current Assets (-) - - II- Total Non-current Assets 8.414.668.957 4.312.704.099 TOTAL ASSETS 73.142.124.679 39.001.614.940 Consolidated Balance Sheet As of December 31, 2023 173 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