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. I- TECHNICAL SECTION Note Audited Current Period January 1- December 31, 2023 Audited Prior Period January 1- December 31, 2022 E- Life Technical Expense (7.801.698) (5.190.292) 1- Total Claims (Net of Reinsurer Share) (5.491.684) 622.997 1.1- Claims Paid (Net of Reinsurer Share) 17,29 (6.831.487) (9.292.133) 1.1.1- Gross Claims Paid (-) 17 (9.400.117) (9.673.464) 1.1.2- Claims Paid Reinsurer Share (+) 10,17 2.568.630 381.331 1.2- Changes in Outstanding Claims Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 17,29 1.339.803 9.915.130 1.2.1- Outstanding Claims Reserve (-) 17 (228.621) 8.330.720 1.2.2- Reinsurance Share of Outstanding Claims Reserve (+) 10,17 1.568.424 1.584.410 2- Changes in Bonus and Discount Reserve (Net of Reinsurer Share and Reserves Carried Forward) (+/-) - - 2.1- Bonus and Discount Reserve (-) - - 2.2- Reinsurance Share of Bonus and Discount Reserve (+) - - 3- Changes in Mathematical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 29 - - 3.1- Mathematical Reserves (-) 29 - - 3.1.1- Actuarial Mathematical Reserve (-) 29 - - 3.1.2- Profit Share Reserve (Reserves for Life Insurance Policies Including Investment Risk) (-) - - 3.2- Reinsurer Share of Mathematical Reserves (+) - - 3.2.1- Reinsurance Share of Actuarial Mathematical Reserve (+) - - 3.2.2- Reinsurance Share of Profit Share Reserve (Reserves for Life Insurance Policies Including Investment Risk) (-) - - 4- Changes in Other Technical Reserves (Net of Reinsurer Share and Reserves Carried Forward) (+/-) 29 2.485.278 (101.353) 5- Operating Expenses (-) 32 (4.795.292) (5.711.936) 6- Investment Expenses (-) - - 7- Unrealized Losses from Investments (-) - - 8- Investment Income Transferred to Non-Technical Part (-) - - F- Life Technical Profit (D-E) 11.785.905 6.092.590 G- Individual Retirement Technical Income - - 1- Fund Management Fee - - 2- Management Fee Deduction - - 3- Initial Contribution Fee - - 4- Management Fee In Case Of Temporary Suspension - - 5- Witholding tax - - 6- Increase in Market Value of Capital Commitment Advances - - 7- Other Technical Income - - H- Individual Retirement Technical Expense - - 1- Fund Management Expenses (-) - - 2- Decrease in Market Value of Capital Commitment Advances (-) - - 3- Operating Expenses (-) - - 4- Other Technical Expense (-) - - I- Individual Retirement Technical Profit (G-H) - - Consolidated Statement of Income For the Year Ended December 31, 2023 178 MİLLİ RE