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) As at December 31, 2023 and 2022, receivables from main operations are detailed as follows: December 31, 2023 December 31, 2022 Receivables from insurance companies 869.202.522 373.732.189 Receivables from reinsurance companies (Note 10) 2.907.188.037 895.875.747 Receivables from agencies, brokers and intermediaries 1.971.092.327 159.960.121 Total receivables from reinsurance operations, net 5.747.482.886 1.429.568.057 Receivables from agencies, brokers and other intermediaries Receivables from insurance and reinsurance companies 8.202.425.696 1.133.384.268 3.898.531.449 175.515.037 Long term receivable which is bank guarantee and three months credit card 1.598.638.932 943.476.394 Salvage and subrogation receivables (Note 2.21) 449.617.028 202.751.310 Receivables from policyholders 181.714.908 47.533.914 Total receivables from insurance operations, net 11.565.780.832 5.267.808.104 Cash deposited to insurance and reinsurance companies (Note 4.2) 1.512.369.005 1.005.162.022 Provisions for receivables from insurance operations - subrogation receivables (Note 2.21) (156.811.592) (58.689.982) Doubtful receivables from main operations - premium receivables 191.817.299 117.934.272 Provision for doubtful receivables from main operations - premium receivables (191.817.299) (117.934.272) Doubtful receivables from insurance operations - subrogation receivables 986.553.472 702.048.592 Provisions for doubtful receivables from insurance operations - subrogation receivables (986.553.472) (702.048.592) Receivables from main operations 18.668.821.131 7.643.848.201 As of December 31, 2023, and 2022, mortgages and collaterals obtained for receivables are disclosed as follows: December 31, 2023 December 31, 2022 Mortgage notes 244.510.302 211.326.333 Letters of guarantees 409.683.801 279.676.711 Other guarantees 302.647.538 151.779.037 Government bonds and treasury bills 230.000 243.656 Total 957.071.641 643.025.737 Provisions for overdue receivables and receivables not due yet a) Receivables under legal or administrative follow up (due): TL 191.817.299 for main operations (December 31, 2022: TL 117.934.272) and TL 705.142 (December 31, 2022: TL 705.142) for other receivables. b) Provision for premium receivables (due): TL 1.143.365.064 (December 31, 2022: TL 760.738.574) The Company’s receivables from and payables to shareholders, associates and subsidiaries are detailed in Note 45 - Related party transactions. The details of the receivables and payables denominated in foreign currencies and foreign currency rates used for the translation are presented in Note 4.2- Financial risk management . 13 Derivative financial assets As of December 31, 2023, the Group has derivative financial instruments recognized in the financial assets held for trading amounting to TL 118.720.901 (December 31, 2022: None). As of December 31, 2023, the company has a fair value gain balance of TL 6.219.723 (December 31, 2022: TL 2.115.363) under the income accruals for forward foreign exchange contracts. There is no fair value loss balance under other financial liabilities (obligations) (December 31, 2022: TL (18.749.281)). 230 MİLLİ RE