MILLI RE 2020 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2020 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) 12 Loans and receivables December 31, 2020 December 31, 2019 Receivables from main operations (Note 4.2) 429.575.728 343.722.732 Prepaid taxes and funds (Note 19) 11.092.252 6.312.824 Other receivables (Note 4.2) 1.604.433 1.746.065 Other current asset 106.950 10.000 Total 442.379.363 351.791.621 Short-term receivables 278.445.442 186.540.997 Medium and long-term receivables 163.933.921 165.250.624 Total 442.379.363 351.791.621 As of December 31, 2020, and 2019, receivables from main operations are detailed as follows: December 31, 2020 December 31, 2019 Receivables from insurance companies 120.993.013 72.720.084 Receivables from brokers and intermediaries 56.023.124 60.768.061 Receivables from reinsurance companies (Note 10) 48.027.209 60.633.142 Total receivables from insurance operations, net 225.043.346 194.121.287 Cash deposited to insurance and reinsurance companies 204.532.382 149.601.445 Doubtful receivables from main operations 35.056.517 28.638.564 Provision for doubtful receivables from main operations (35.056.517) (28.638.564) Receivables from main operations 429.575.728 343.722.732 As of December 31, 2020, and 2019, mortgages and collaterals obtained for receivables are disclosed as follows: December 31, 2020 December 31, 2019 Letters of guarantees 15.467.376 13.852.965 Other Guarantees 400.138 240.000 Total 15.867.514 14.092.965 Provisions for overdue receivables and receivables not due yet a) Receivables under legal or administrative follow up (due): TL 35.056.517 for main operations (December 31, 2019: TL 28.638.564) and TL 832.788 (December 31, 2019: TL 754.788) for other receivables. b) Provision for premium receivables (due): None (December 31, 2019: None). 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, 2020, and 2019, the Company has no derivative financial instruments. Financial Status Risks and Assessment of the Governing Body Unconsolidated Financial Statements Together with Independent Auditors’ Report Thereon Consolidated Financial Statements Together with Independent Auditors’ Report Thereon Milli Re Annual Report 2020 141