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) Corporate tax liabilities and prepaid taxes are disclosed below: December 31, 2023 December 31, 2022 Taxes paid during the period 1.445.375.643 187.686.308 Corporate tax liabilities (1.664.485.864) (276.782.469) Corporate tax assets, net (219.110.221) (89.096.161) Total amount of investment incentives which will be benefited in current and forthcoming periods None. 20 Financial liabilities 31 December 2023 31 December 2022 Expense accruals arising from derivative contracts (Note 13) (*) - 18.749.281 Payables from operating leases (Note 34) (**) 144.295.014 81.165.780 Short-term 32.390.854 10.904.883 Medium and long-term 111.904.160 70.260.897 Total 144.295.014 99.915.061 (*) The Company has none expense accruals arising from derivative contracts As of December 31, 2023. (December 31, 2022: TL 18.749.281). (**) As of December 31, 2023, the Group’s operating leases are explained in the Note 34 - Financial Costs . 21 Deferred taxes As of December 31, 2023, and 2022, deferred tax assets and liabilities are attributable to the following: December 31, 2023 December 31, 2022 Deferred tax assets/(liabilities)) Deferred tax assets/(liabilities)) Equalization reserves 79.227.312 143.310.919 Other provisions 148.657.653 52.539.188 Unexpired risk reserves 528.692.539 204.624.010 Provision for the pension fund deficits 101.784.902 58.816.795 Provisions for employee termination benefits 50.956.692 36.269.241 Subrogation provision 47.043.478 14.672.496 Other 17.149.562 3.788.423 Time deposits 289.568 398.499 Discount of receivables and payables 5.315.763 10.617.888 Profit commission accruals (19.400.593) (10.968.672) Valuation differences in financial assets (119.815.402) (123.988.614) Subrogation receivables from third parties - (14.606.398) TAS adjustment differences in depreciation 57.220.954 (23.851.402) Valuation of real estate (1.043.673.541) (335.806.113) Prepaid exepenses 484.321 - Deferred tax assets/(liabilities), net (146.066.792) 15.816.260 240 MİLLİ RE