MILLI RE 2023 ANNUAL REPORT

Notes to the Consolidated 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) December 31, 2023 and 2022, the aging of the receivables from main operations and related provisions are as follows: December 31, 2023 December 31, 2022 Brüt tutar Ayrılan karşılık Brüt tutar Ayrılan karşılık Not past due 15.358.254.844 - 6.889.315.306 - Past due 0-30 days 3.153.775.809 (15.197.891) 635.324.513 (8.788.242) Past due 31-60 days 64.170.230 (15.936.262) 28.099.419 (8.080.500) Past due 61-90 days 47.409.111 (15.997.861) 28.045.199 (6.385.277) More than 90 days (*) 1.380.393.500 (1.288.050.349) 941.736.609 (855.418.826) Toplam 20.004.003.494 (1.335.182.363) 8.522.521.046 (878.672.845) (*) As per the February 3, 2005 dated and B.02.1.HM.O.SGM.0.3.1/01/05 numbered Circular issued by the Republic of Turkey Ministry of Treasury and Finance, in case where subrogation is subject to claim/legal action, related subrogation amount is recognized as doubtful receivables and allowance for doubtful receivables is provided by the same amount in the financial statements. Related amounts are presented in “More than 90 days” line in the above table. The movements of the allowances for impairment losses for receivables from main operations during the period are as follows: December 31, 2023 December 31, 2022 Provision for receivables from insurance operations at the beginning of the year 819.982.864 614.250.399 Collections during the period (Note 47) (2.722.230) (972.045) Impairment losses provided during the period (Note 47) 1.524.942 1.455.458 Impairment losses provided for subrogation - salvage receivables during the period (Note 47) 315.423.102 190.020.345 Valuation of doubtful receivables (Note 47) 44.162.093 15.228.707 Provision for receivables from insurance operations at the end of the year 1.178.370.771 819.982.864 The movements of the allowances for impairment losses for other receivables are as follows: December 31, 2023 December 31, 2022 Provision for other receivables at the beginning of the year 705.142 1.061.329 Provision for impairment allocated during the period - (356.187) Provision for other receivables at the end of the year 705.142 705.142 Liquidity risk Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset as a result of the imbalance between the Group’s cash inflows and outflows in terms of maturity and volume. The Group’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities. In respect of this risk which is measured by quantitative methods, any liquidity deficit is observed via the maturity analysis of assets and liabilities in the statement of balance sheet. Furthermore, liquidity structure of the Group is monitored by using the following basic indicators in respect of liquidity ratios: - Liquid Assets/Total Assets - Liquidity Ratio - Current Ratio - Premium and Reinsurance Receivables/Total Assets The results evaluated by the Risk Committee and reported regularly to the Board of Directors. Action plan is determined by the Board of Directors in the case of having exposure higher than acceptable level of risk and probability. Management of the liquidity risk The Group considers the maturity match between asset and liabilities for the purpose of avoiding liquidity risk and ensure that it will always have sufficient liquidity to meet its liabilities when due . 214 MİLLİ RE