MILLIRE 2021 ANNUAL REPORT

NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2021 Millî Reasürans Türk Anonim Şirketi (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) (Currency: Turkish Lira (TL)) The Company’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities . In respect of this risk, which is measured by quantitative methods, any liquidity deficit is observed via the maturity analysis of assets and liabilities in the statement of balance sheet. Furthermore, liquidity structure of the Company is monitored by using the following basic indicators in respect of liquidity ratios: -- Liquid Assets/Total Assets -- Liquidity Ratio -- Current Ratio -- Premium and Reinsurance Receivables/Total Assets The results evaluated by the Risk Committee and reported regularly to the Board of Directors. Action plan is determined by the Board of Directors in the case of having exposure higher than acceptable level of risk and probability. Management of the liquidity risk The Company considers the maturity match between asset and liabilities for the purpose of avoiding liquidity risk and ensure that it will always have sufficient liquidity to meet its liabilities when due . Maturity distribution of monetary assets and liabilities: December 31, 2021 Carrying amount Up to 1 month 1 to 3 months 3 to 6 months 6 to 12 months 1 year and up Unallocated Cash and cash equivalents 1.940.023.286 1.242.797.880 598.622.685 57.764.758 40.837.963 - - Financial assets (*) 1.819.548.720 304.247.749 343.903.030 39.596.310 53.863.450 1.077.938.181 - Receivables from main operations 640.389.582 205.352.818 87.455.656 78.711.174 143.093.847 125.776.087 Other receivables and current assets 66.505.599 62.562.257 - - 3.922.849 20.493 - Total monetary assets 4.466.467.187 1.814.960.704 1.029.981.371 176.072.242 241.718.109 1.203.734.761 - Financial liabilities and other liabilities 6.851.224 6.851.224 - - - - - Payables arising from main operations 127.233.309 96.561.986 - - 181.166 30.490.157 - Due to related parties 156.141 156.141 - - - - - Insurance technical reserves (**) 2.268.809.305 - - - - - 2.268.809.305 Provisions for taxes and other similar obligations 81.489.082 4.060.290 77.428.792 - - - - Provisions for other risks and expense accruals 128.483.581 6.036.220 4.456.812 - - - 117.990.549 Total monetary liabilities 2.613.022.642 113.665.861 81.885.604 - 181.166 30.490.157 2.386.799.854 (*) Equity shares amounting to TL 104.466.071 are not included. (**) Net of outstanding claims reserve not subject to consistent distribution is presented in the “unallocated” column. 129 MİLLÎ REASÜRANS ANNUAL REPORT 2021 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