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) The evolution of insurance liabilities makes it possible to measure Anadolu Sigorta’s performance in estimating its total claim liabilities. The figures shown at the top of the tables below show the change in Anadolu Sigorta’s total claims estimates in subsequent years, starting from the years in which the claims occurred. The figures shown at the bottom of the tables give the reconciliation of the total liabilities with the outstanding claims provisions shown in the consolidated financial statements. 31 December 2023 Year of claim 2019 2020 2021 2022 2023 Total Year of claim 3.084.992.257 3.495.603.368 5.217.227.738 10.924.622.868 38.693.556.119 61.416.002.350 1 year later 3.263.577.298 4.011.075.019 6.241.608.392 13.376.826.698 - 26.893.087.407 2 year later 3.382.129.581 4.259.781.610 6.726.519.251 - - 14.368.430.442 3 year later 3.504.278.805 4.541.680.778 - - - 8.045.959.583 4 year later 3.742.785.611 - - - - 3.742.785.611 Current estimate of claim 3.742.785.611 4.541.680.778 6.726.519.251 13.376.826.698 38.693.556.119 67.081.368.457 The total made to date is 3.017.796.412 3.422.653.430 5.548.562.331 10.306.549.987 20.697.020.766 42.992.582.926 The total amount in the financial statements 724.989.199 1.119.027.348 1.177.956.921 3.070.276.711 17.996.535.352 24.088.785.531 financial statements related to 2015 and before - - - - - 3.711.224.569 Total gross outstanding compensation shown in the period-end financial statements 27.800.010.100 31 December 2022 Year of claim 2018 2019 2020 2021 2022 Total Year of claim 2.885.360.315 3.196.222.254 3.398.547.245 4.513.091.132 11.202.394.776 25.195.615.722 1 year later 3.431.999.452 3.318.823.106 3.811.249.124 5.393.374.837 - 15.955.446.519 2 year later 3.545.770.065 3.504.841.865 4.124.284.189 - - 11.174.896.119 3 year later 3.653.070.742 3.582.376.878 - - - 7.235.447.620 4 year later 3.753.386.932 - - - - 3.753.386.932 Current estimate of claim 3.753.386.932 3.582.376.878 4.124.284.189 5.393.374.837 11.202.394.776 28.055.817.612 The total made to date is 3.059.249.196 2.955.099.153 3.088.594.620 4.141.170.529 5.682.481.343 18.926.594.841 The total amount in the financial statements 694.137.736 627.277.725 1.035.689.569 1.252.204.308 5.519.913.433 9.129.222.771 financial statements related to 2015 and before - - - - - 2.925.588.380 Total gross outstanding compensation shown in the period-end financial statements 12.054.811.151 Total amount of guarantee that should be placed by the Group for life and non-life branches and guarantees placed for the life and non-life branches in respect of related assets As the Company is a reinsurance company, there is not any guarantee that should be placed. The details given below are the amounts of guarantees for Anadolu Sigorta A.Ş. December 31, 2023 Should be placed (*) Placed Book value Non-life: Financial Assets (Note 11) - 2.631.289.711 2.631.289.711 Bank deposits (Note 14) - 1.363.261.798 1.363.261.798 Total 2.911.831.817 3.994.551.509 3.994.551.509 December 31, 2022 Should be placed (*) Placed Book value Non-life: Financial Assets (Note 11) - 2.055.744.693 2.055.744.693 Bank deposits (Note 14) - 1.465.822.315 1.465.822.315 Total 1.061.784.499 3.521.567.008 3.521.567.008 * According to the 7 th article of the “Circular Related to the Financial Structure of Insurance, Reinsurance, and Private Pension Companies” which regulates necessary guarantee amount, minimum guarantee fund for capital adequacy calculation period will be provided as a guarantee in two months following the calculation period. According to “Regulations Regarding to Capital Adequacy Measurement and Assessment of Insurance, Reinsurance, and Private Pension Companies”, companies must prepare their capital adequacy tables twice in a financial year at June and December periods and must sent capital adequacy tables to the Insurance and Private Pension Regulation and Supervisory Agency within two months. Since the amounts that to be provided as of December 31, 2023 (December 31, 2022) will be through the calculated amounts as of December 31, 2023 (December 31, 2022), the settled amounts as of December 31, 2023 (December 31, 2022) is presented as “to be provided” amounts. 237 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