MILLIRE 2021 ANNUAL REPORT

(Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) The accompanying notes are an integral part of these unconsolidated financial statements. Millî Reasürans Türk Anonim Şirketi LIABILITIES III- Short-Term Liabilities Note Audited Current Period December 31, 2021 Audited Prior Period December 31, 2020 A- Borrowings 20 3.234.894 - 1- Loans to Financial Institutions - - 2- Finance Lease Payables - - 3- Deferred Finance Lease Borrowing Costs (-) - - 4- Current Portion of Long-Term Borrowings - - 5- Principal, Installments and Interests on Issued Bills (Bonds) - - 6- Other Financial Assets Issued - - 7- Value Differences on Issued Financial Assets (-) - - 8- Other Financial Borrowings (Liabilities) 20 3.234.894 - B- Payables From Main Operations 4.2,19 96.743.152 61.827.219 1- Payables Due to Insurance Operations - - 2- Payables Due to Reinsurance Operations 4.2,19 95.699.106 60.370.427 3- Cash Deposited by Insurance & Reinsurance Companies  4.2,19 1.044.046 1.456.792 4- Payables Due to Pension Operations - - 5- Payables from Other Operations - - 6- Rediscount on Other Payables From Main Operations (-) - - C- Due to Related Parties 4.2,19 156.141 136.214 1- Due to Shareholders 45 140.984 127.553 2- Due to Affiliates - - 3- Due to Subsidiaries - - 4- Due to Joint Ventures - - 5- Due to Personnel - - 6- Due to Other Related Parties 45 15.157 8.661 D- Other Payables 19 3.616.330 1.321.982 1- Deposits and Guarantees Received 19  - 400.138 2- Due to SSI regarding Treatment Expenses - - 3- Other Payables 19,4.2 3.616.330 921.844 4- Discount on Other Payables (-) - - E- Insurance Technical Reserves 17 3.588.338.932 2.499.551.753 1- Unearned Premiums Reserve - Net 17 1.163.683.910 819.936.604 2- Unexpired Risk Reserves - Net 17 155.845.717 48.148.394 3- Mathematical Reserves - Net 17 - 13.014 4- Outstanding Claims Reserve - Net 4.2,17 2.268.809.305 1.631.453.741 5- Provision for Bonus and Discounts - Net - - 6- Other Technical Reserves - Net - - F- Taxes and Other Liabilities and Relevant Provisions 4.2,19 81.489.082 2.358.902 1- Taxes and Dues Payable 19 3.838.323 2.181.669 2- Social Security Premiums Payable 19 221.967 177.233 3- Overdue, Deferred or By Installment Taxes and Other Liabilities - - 4- Other Taxes and Liabilities - - 5- Corporate Tax Liability Provision on Period Profit 19 128.897.591 29.030.769 6- Prepaid Taxes and Other Liabilities on Period Profit (-) 19 (51.468.799) (29.030.769) 7- Provisions for Other Taxes and Liabilities - - G- Provisions for Other Risks - - 1- Provision for Employment Termination Benefits - - 2- Pension Fund Deficit Provision - - 3- Provisions for Costs - - H- Deferred Income and Expense Accruals 19 14.791.526 10.087.217 1- Deferred Commission Income 10,19 4.098.066 2.760.960 2- Expense Accruals 19 10.493.032 6.988.383 3- Other Deferred Income 19 200.428 337.874 I- Other Short-Term Liabilities - - 1- Deferred Tax Liability - - 2- Inventory Count Differences - - 3- Other Short-Term Liabilities - - III - Total Short-Term Liabilities 3.788.370.057 2.575.283.287 UNCONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2021 92 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