MILLI RE 2023 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) The accompanying notes are an integral part of these unconsolidated financial statements. LIABILITIES III- Short-Term Liabilities Note Audited Current Period December 31, 2023 Audited Prior Period December 31, 2022 A- Borrowings 20 13.252.134 30.126 1- Loans to Financial Institutions - - 2- Finance Lease Payables - - 3- Deferred Finance Lease Borrowing Costs (-) - - 4- Current Portion of Long-Term Borrowings - - 5- Principal, Installments and Interests on Issued Bills (Bonds) - - 6- Other Financial Assets Issued - - 7- Value Differences on Issued Financial Assets (-) - - 8- Other Financial Borrowings (Liabilities) 20 13.252.134 30.126 B- Payables From Main Operations 4.2,19 841.900.196 115.476.899 1- Payables Due to Insurance Operations - - 2- Payables Due to Reinsurance Operations 4.2,19 840.462.577 114.466.447 3- Cash Deposited by Insurance & Reinsurance Companies 4.2,19 1.437.619 1.010.452 4- Payables Due to Pension Operations - - 5- Payables from Other Operations - - 6- Rediscount on Other Payables From Main Operations (-) - - C- Due to Related Parties 4.2,19 722.655 419.272 1- Due to Shareholders 45 156.859 156.859 2- Due to Affiliates - - 3- Due to Subsidiaries 503.277 - 4- Due to Joint Ventures - - 5- Due to Personnel 1.373 - 6- Due to Other Related Parties 45 61.146 262.413 D- Other Payables 19 9.665.367 13.057.845 1- Deposits and Guarantees Received 19 - - 2- Due to SSI regarding Treatment Expenses - - 3- Other Payables 19,4.2 9.665.367 13.057.845 4- Discount on Other Payables (-) - - E- Insurance Technical Reserves 17 10.962.460.038 6.301.850.313 1- Unearned Premiums Reserve - Net 17 4.910.639.373 2.244.243.203 2- Unexpired Risk Reserves - Net 17 33.826.898 13.164.186 3- Mathematical Reserves - Net 17 - - 4- Outstanding Claims Reserve - Net 4.2,17 6.017.993.767 4.044.442.924 5- Provision for Bonus and Discounts - Net - - 6- Other Technical Reserves - Net - - F- Taxes and Other Liabilities and Relevant Provisions 4.2,19 15.176.235 6.317.060 1- Taxes and Dues Payable 19 14.144.157 5.951.043 2- Social Security Premiums Payable 19 1.032.078 366.017 3- Overdue, Deferred or By Installment Taxes and Other Liabilities - - 4- Other Taxes and Liabilities - - 5- Corporate Tax Liability Provision on Period Profit - - 6- Prepaid Taxes and Other Liabilities on Period Profit (-) - - 7- Provisions for Other Taxes and Liabilities - - G- Provisions for Other Risks - - 1- Provision for Employment Termination Benefits - - 2- Pension Fund Deficit Provision - - 3- Provisions for Costs - - H- Deferred Income and Expense Accruals 19 48.379.059 26.927.997 1- Deferred Commission Income 10,19 8.565.638 9.482.897 2- Expense Accruals 19 39.421.809 17.174.294 3- Other Deferred Income 19 391.612 270.806 I- Other Short-Term Liabilities - - 1- Deferred Tax Liability - - 2- Inventory Count Differences - - 3- Other Short-Term Liabilities - - III - Total Short-Term Liabilities 11.891.555.684 6.464.079.512 Unconsolidated Balance Sheet As of December 31, 2023 96 MİLLİ RE