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. Note Audited Current Period January 1- December 31, 2023 Audited Prior Period January 1- December 31, 2022 A. CASH FLOWS FROM THE OPERATING ACTIVITIES 1. Cash inflows from the insurance operations 46.662.245.743 20.034.992.326 2. Cash inflows from the reinsurance operations 30.957.075.145 11.702.248.196 3. Cash inflows from the pension operations - - 4. Cash outflows due to the insurance operations (-) (41.096.628.696) (19.548.388.589) 5. Cash outflows due to the reinsurance operations (-) (32.657.768.872) (7.896.465.107) 6. Cash outflows due to the pension operations (-) - - 7. Cash generated from the operating activities (A1+A2+A3-A4-A5-A6) 3.864.923.320 4.292.386.826 8. Interest payments (-) - - 9. Income tax payments (-) (1.551.533.765) (205.778.215) 10. Other cash inflows 1.218.208.561 35.583.036 11. Other cash outflows (-) (1.318.502.273) (2.054.092.022) 12. Net cash generated from the operating activities 2.213.095.843 2.068.099.625 B. CASH FLOWS FROM THE INVESTING ACTIVITIES 1. Sale of tangible assets 10.007 3.045.697 2. Purchase of tangible assets (-) 6, 8 (415.423.583) (249.405.941) 3. Acquisition of financial assets (-) 11 (73.428.555.685) (30.503.976.689) 4. Sale of financial assets 11 70.505.325.504 32.212.751.677 5. Interest received 2.389.795.410 2.156.971.227 6. Dividends received 73.552.552 - 7. Other cash inflows 4.631.651.998 1.472.632.791 8. Other cash outflows (-) (5.530.046.063) (3.221.856.964) 9. Net cash generated from the investing activities (1.773.689.860) 1.870.161.798 C. CASH FLOWS FROM THE FINANCING ACTIVITIES 1. Issue of equity shares - - 2. Cash inflows from the loans to policyholders - - 3. Payments of financial leases (-) (9.143.022) - 4. Dividend paid (-) - (47.984.125) 5. Other cash inflows - - 6. Other cash outflows (-) - - 7. Cash generated from the financing activities (9.143.022) (47.984.125) D. EFFECTS OF EXCHANGE RATE DIFFERENCES ON CASH AND CASH EQUIVALENTS 510.330.117 621.262.884 E. Net increase/(decrease) in cash and cash equivalents (A12+B9+C7+D) 940.593.078 4.511.540.183 F. Cash and cash equivalents at the beginning of the period 14 9.149.085.562 4.637.545.379 G. Cash and cash equivalents at the end of the period (E+F) 14 10.089.678.640 9.149.085.562 Consolidated Statement of Cash Flows For the Year Ended December 31, 2023 182 MİLLİ RE