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) 14 Cash and cash equivalents As of December 31, 2023, and December 31, 2022, the details of the cash and cash equivalents are as follows: December 31, 2023 December 31, 2022 At the end of the period At the beginning of the period At the end of the period At the beginning of the period Cash on hand 162.771 197.410 197.410 103.408 Cheques received - - - - Bank deposits 9.678.868.672 9.156.392.304 9.156.392.304 4.012.403.163 Cheques given and payment orders (3.167) (14.481) (14.481) (19.566) Bank guaranteed credit card receivables with maturities less than three months 3.452.368.687 1.787.066.011 1.787.066.011 1.104.473.014 Cash and cash equivalents in the balance sheet 13.131.396.963 10.943.641.244 10.943.641.244 5.116.960.019 Bank deposits - blocked (*) (1.734.196.100) (1.465.822.815) (1.465.822.815) (272.352.942) Time deposits with maturities longer than 3 months (1.227.671.164) (305.956.102) (305.956.102) (180.310.274) Interest accruals on banks deposits (79.851.059) (22.776.765) (22.776.765) (26.751.424) Cash and cash equivalents presented in the statement of cash flows 10.089.678.640 9.149.085.562 9.149.085.562 4.637.545.379 (*) As of December 31, 2023, cash collateral amounting to TL 1.363.261.798 is kept in favour of Turkey Insurance and Private Pension Regulation and Supervision Agency. As of December 31, 2023, and 2022, bank deposits are further analysed as follows: December 31, 2023 December 31, 2022 End of term Foreign currency denominated bank deposits - time deposits 619.948.782 953.684.068 - demand deposits 805.938.886 201.870.792 Bank deposits in Turkish Lira - time deposits 7.803.344.840 7.885.983.925 - demand deposits 449.636.164 114.853.519 Bank deposits 9.678.868.672 9.156.392.304 15 Equity Paid in Capital The shareholder having direct or indirect control over the shares of the Company is İş Bankası Group having 87.60% of outstanding shares. As of December 31, 2023, and 2022, the shareholding structure of the Company is presented below: Name December 31, 2023 December 31, 2022 Shareholding amount (TL) Shareholding rate (%) Shareholding amount (TL) Shareholding rate (%) Türkiye İş Bankası A.Ş. 578.177.926 87,60 578.177.926 87,60 Axa Hayat ve Emeklilik A.Ş. 38.809.894 5,88 38.809.894 5,88 Ankara Doğal Elektrik Üretim ve Ticaret A.Ş. 22.240.456 3,37 22.240.456 3,37 T.C. Ziraat Bankası A.Ş. 16.430.944 2,49 16.430.944 2,49 Other 4.340.780 0,66 4.340.780 0,66 Paid in capital 660.000.000 100,00 660.000.000 100,00 As of December 31, 2023, the issued share capital of the Group is TL 660.000.000 (December 31, 2022: TL 660.000.000) and the share capital of the Group consists of 66.000.000.000 (December 31, 2022: 66.000.000.000 shares) issued shares with TL 0,01 nominal value each. There are no privileges over the shares of the Group. There are not any treasury shares held by the Group itself or by its subsidiaries or associates. 231 2023 Annual Report GENERAL INFORMATION FINANCIAL RIGHTS PROVIDEDTOTHE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RISKS AND ASSESSMENT OF THE GOVERNING BODY ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES RESEARCH & DEVELOPMENT ACTIVITIES FINANCIAL STATUS FINANCIAL INFORMATION