MILLI RE 2023 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) The accompanying notes are an integral part of these consolidated financial statements. LIABILITIES III- Short-Term Liabilities Note Audited Current Period December 31, 2023 Audited Prior Period December 31, 2022 A- Borrowings 19,20 32.390.854 29.654.164 1- Loans to Financial Institutions - - 2- Finance Lease Payables - - 3- Deferred Finance Lease Borrowing Costs (-) - - 4- Current Portion of Long Term Borrowings - - 5- Principal, Instalments and Interests on Issued Bills (Bonds) - - 6- Other Financial Assets Issued - - 7- Value Differences on Issued Financial Assets (-) - - 8- Other Financial Borrowings (Liabilities) 19,20 32.390.854 29.654.164 B- Payables From Main Operations 19 6.084.112.704 2.555.052.856 1- Payables Due to Insurance Operations 19 3.779.204.033 1.781.540.403 2- Payables Due to Reinsurance Operations 19 1.054.765.152 144.614.141 3- Cash Deposited by Insurance & Reinsurance Companies 19 154.050.372 15.316.979 4- Payables Due to Pension Operations - - 5- Payables from Other Operations 19 1.098.325.737 615.562.351 6- Rediscount on Other Payables From Main Operations (-) 19 (2.232.590) (1.981.018) C- Due to Related Parties 19 2.085.823 1.262.116 1- Due to Shareholders 19 193.699 193.699 2- Due to Affiliates 19 - - 3- Due to Subsidiaries - - 4- Due to Joint Ventures - - 5- Due to Personnel 19 1.830.978 806.004 6- Due to Other Related Parties 19 61.146 262.413 D- Other Payables 19 668.894.604 381.363.305 1- Deposits and Guarantees Received 19 37.078.397 24.950.846 2- Due to SSI regarding Treatment Expenses 19 209.150.205 146.358.652 3- Other Payables 19 438.014.266 215.394.213 4- Discount on Other Payables (-) 19 (15.348.264) (5.340.406) E- Insurance Technical Reserves 17 46.660.903.986 26.451.760.997 1- Unearned Premiums Reserve - Net 17 23.557.427.485 12.433.417.488 2- Unexpired Risk Reserves - Net 17 1.762.308.460 818.496.039 3- Mathematical Reserves - Net - - 4- Outstanding Claims Reserve - Net 17 21.341.168.041 13.199.847.470 5- Provision for Bonus and Discounts - Net 17 - - 6- Other Technical Reserves - Net - - F- Taxes and Other Liabilities and Relevant Provisions 19 800.540.106 394.550.536 1- Taxes and Dues Payable 19 530.240.046 272.169.431 2- Social Security Premiums Payable 19 41.942.887 19.611.154 3- Overdue, Deferred or By Instalment Taxes and Other Liabilities - - 4- Other Taxes and Liabilities - - 5- Corporate Tax Liability Provision on Period Profit 19 1.664.485.864 276.782.469 6- Prepaid Taxes and Other Liabilities on Period Profit (-) 19 (1.436.128.691) (174.012.518) 7- Provisions for Other Taxes and Liabilities - - G- Provisions for Other Risks - - 1- Provision for Employment Termination Benefits - - 2- Pension Fund Deficit Provision - - 3- Provisions for Costs - - H- Deferred Income and Expense Accruals 19 1.155.454.167 616.183.112 1- Deferred Commission Income 10,19 644.038.671 346.493.633 2- Expense Accruals 19 509.421.983 268.367.636 3- Other Deferred Income 19 1.993.513 1.321.843 I- Other Short Term Liabilities 21,23 22.210.647 11.902.901 1- Deferred Tax Liability - - 2- Inventory Count Differences - - 3- Other Short Term Liabilities 23 22.210.647 11.902.901 III- Total Short Term Liabilities 55.426.592.891 30.441.729.987 Consolidated Balance Sheet As of December 31, 2023 174 MİLLİ RE