MILLIRE 2021 ANNUAL REPORT

NOTES TO THE CONSOLIDATED 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)) 19 Trade and other payables and deferred income December 31, 2021 December 31, 2020 Financial payables 389.506.210 58.754.871 Payables from main operations 1.761.423.525 980.870.480 Other payables 196.778.372 136.517.896 Short/long term deferred income and expense accruals 333.738.596 231.208.040 Taxes and other liabilities and similar obligations 212.288.501 78.146.382 Due to related parties (Note 45) 583.728 224.447 Total 2.894.318.932 1.485.722.116 Short-term liabilities 2.808.385.630 1.416.703.424 Long-term liabilities 85.933.302 69.018.692 Total 2.894.318.932 1.485.722.116 As of December 31, 2021, other payables amounting to TL 196.778.372 (December 31, 2020: TL 136.517.896) consist of treatment cost payables to SSI amounting to TL 68.451.361 (December 31, 2020: TL 45.849.975) payables to Tarsim and DASK and outsourced benefits and services amounting to TL 111.984.975 (December 31, 2020: TL 78.890.696) and deposits and guarantees received amounting to TL 16.342.036 (December 31, 2020: 11.777.540). Payables arising from main operations of the Group As of December 31, 2021 and 2020 are as follows: December 31, 2021 December 31, 2020 Payables to reinsurance companies (Note 10) 1.243.712.653 622.634.390 Payables to agencies, brokers and intermediaries 130.981.175 91.095.216 Cash deposited by insurance and reinsurance companies 8.385.787 6.898.890 Total payables arising from reinsurance and insurance operations 1.383.079.615 720.628.496 Payables arising from other operating activities 378.343.910 260.241.984 Payables arising from main operations 1.761.423.525 980.870.480 Corporate tax liabilities and prepaid taxes are disclosed below: December 31, 2021 December 31, 2020 Taxes paid during the period 287.355.697 173.403.945 Corporate tax liabilities (306.101.998) (129.065.521) Corporate tax assets, net (18.746.301) 44.338.424 Total amount of investment incentives which will be benefited in current and forthcoming periods None. 20 Financial liabilities 31 December 2021 31 December 2020 Expense accruals arising from derivative contracts (Note 13) (*) 326.794.945 - Payables from operating leases (Note 34) (**) 62.711.265 58.754.871 Short-term 7.268.119 3.029.771 Medium and long-term 55.443.146 55.725.100 Total 389.506.210 58.754.871 (*) The company accrue expense from derivative contracts As of December 31, 2021. 326.794.945 (December 31, 2020: None). (**) As of December 31, 2021, the Group’s operating leases are explained in the Note 34 - Financial Costs . 243 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