MILLI RE 2023 ANNUAL REPORT

2023 FINANCIAL RESULTS Investment Expenses Due to the higher realization of technical provisions and investment income compared to the previous period, there has been an increase in investment income transferred from the non-technical segment to the technical segment. As a result of the fluctuations in foreign exchange rates in the current period, foreign exchange loss amounting to TL 39,581,334 was recorded. (TL) 2023 2022 Change (%) Investment Expenses (3,661,647,130) (2,251,785,865) 62.61 Investment Management Expenses – (Incl. Interest) (577,324) (303,487) 90.23 Loss from Disposal of Financial Assets (13,345,686) (196,394) 6,695.36 Investment Income Transferred to Non-life Technical Account (3,516,302,860) (2,170,788,001) 61.98 Losses from Derivatives (6,884,346) (7,060,875) - Foreign Exchange Losses (39,581,334) (17,582,999) 125.11 Depreciation and Amortization Expenses (28,018,645) (24,330,752) 15.16 Other Investment Expenses (56,936,935) (31,523,357) 80.62 Income and Expenses From Other and Extraordinary Operations As the result of the developments mentioned above, the company posted TL 523,942,071 in “Deferred Tax Liability Expenses” in 2023. (TL) 2023 2022 Change (%) Income and Expenses From Other and Extraordinary Operations (724,299,710) (250,531,510) 189.11 Provisions (153,684,528) (150,438,548) 2.16 Rediscounts (45,990,646) (9,520,269) 383.08 Deferred Taxation (Deferred Tax Assets) - - - Deferred Tax Liability Expense (523,942,071) (103,908,015) 404.24 Other Income 2,964,787 13,516,934 (78.07) Other Expenses and Losses (3,647,252) (181,612) 1,908.27 Gross Profit/Loss for the Period In the current period, there was no balance in the “Profit for the Period Tax and Other Legal Liability Provisions” item due to the Tax Procedure Law loss. (TL) 2023 2022 Change (%) Gross Profit/Loss for the Period 3,629,008,053 888,619,766 308.39 Profit/Loss for the Period 3,629,008,053 888,619,766 308.39 Profit for the Period Tax and Other Legal Liability Provisions - - - 74 MİLLİ RE