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) Movement of provision for employee termination benefits during the period is presented below: December 31, 2023 December 31, 2022 Provision at the beginning of the period 135.521.632 58.186.518 Interest cost (Note 47) 30.475.630 12.327.307 Service cost (Note 47) 9.211.044 3.864.187 Payments during the period (Note 47) (69.458.210) (5.252.349) Actuarial gain/loss 54.926.552 66.395.969 Provision at the end of the period 160.676.648 135.521.632 24 Net insurance premium revenue Net insurance premium revenue for non-life branches is presented in detailed in the accompanying consolidated statement of income. 25 Fee revenue None. 26 Investment income Investment income is presented in Note 4.2 - Financial risk management . 27 Net income accrual on financial asset Net realized gains on financial assets are presented in Note 4.2 - Financial risk management . 28 Assets held at fair value through profit or loss Presented in “ Note 4.2 - Financial Risk Management”. 29 Insurance rights and claims December 31, 2023 December 31, 2022 Claims paid, net off reinsurers’ share (19.682.445.639) (10.550.897.509) Changes in outstanding claims reserves, net off reinsurers’ share (8.141.320.571) (4.552.398.236) Changes in unearned premium reserves, net off reinsurers’ share (11.122.955.053) (7.366.390.393) Change in equalization reserves 54.664.362 (339.961.000) Changes in unexpired risks reserves, net off reinsurers’ share (943.812.421) (375.427.682) Total (39.835.869.322 ) (23.185.074.820) 30 Investment contract benefits None. 31 Other expenses The allocation of the expenses with respect to their nature or function is presented in Note 32 - Expenses by nature below. 243 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