MILLIRE 2021 ANNUAL REPORT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2021 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) Provisions for overdue receivables and receivables not due yet a) Receivables under legal or administrative follow up (due): TL 102.222.152 for main operations (December 31, 2020: TL 72.007.562) and TL 1.061.329 (December 31, 2020: TL 832.788) for other receivables. b) Provision for premium receivables (due): None (December 31, 2020: None). c) Provision for subrogation receivables: TL 549.930.583 (December 31, 2020: TL 440.968.520). 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, 2021, the Group has derivative financial instruments recognized in the financial assets held for trading amounting to TL 9.288.303 (December 31, 2020: TL 63.599.896). As of December 31, 2021, the Group has accounted in income accruals and other financial liabilities amounting to TL 145.419.619 (December 31, 2020: TL 183.754.467) that is increase in value while there is TL 326.794.946 impairment balance under the other financial liabilities account (December 31, 2020: None) due to forward foreign currency agreement. 14 Cash and cash equivalents As of December 31, 2021, and December 31, 2020, the details of the cash and cash equivalents are as follows: December 31, 2021 December 31, 2020 At the end of the period At the beginning of the period At the end of the period At the beginning of the period Cash on hand 103.408 76.079 76.079 117.671 Cheques received - 400.138 400.138 240.000 Bank deposits 4.012.403.163 4.097.477.416 4.097.477.416 5.803.536.011 Cheques given and payment orders (19.566) (8.020) (8.020) (35.083) Bank guaranteed credit card receivables with maturities less than three months 1.104.473.014 771.479.380 771.479.380 587.341.970 Cash and cash equivalents in the balance sheet 5.116.960.019 4.869.424.993 4.869.424.993 6.391.200.569 Bank deposits - blocked (*) (272.352.942) (836.221.606) (836.221.606) (467.204.688) Time deposits with maturities longer than 3 months (180.310.274) (145.142.438) (145.142.438) (2.191.076.064) Interest accruals on banks deposits (26.751.424) (16.704.794) (16.704.794) (11.488.428) Cash and cash equivalents presented in the statement of cash flows 4.637.545.379 3.871.356.155 3.871.356.155 3.721.431.389 (*) As of December 31, 2021, cash collateral amounting to TL 226.986.014 is kept in favour of the T.C. Sigortacılık ve Özel Emeklilik Düzenleme ve Denetleme Kurumuand Finance and ve 45.366.428 is kept in favour of Agricultural Insurance Pool as a guarantee for the insurance activities of Anadolu Sigorta.. 234 MİLLÎ REASÜRANS ANNUAL REPORT 2021 ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES GENERAL INFORMATION FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RESEARCH & DEVELOPMENT ACTIVITIES