MILLIRE ENG2024

29 Insurance rights and claims December 31, 2024 December 31, 2023 Life Non-Life Life Non-Life Claims paid, net off reinsurers’ share (7.372.039) (5.224.109.420) (6.831.487) (4.685.750.924) Changes in outstanding claims reserve, net off reinsurers’ share (17.977.837) (3.577.341.641) 1.339.803 (1.974.890.646) Changes in unearned premiums reserve, net off reinsurers’ share (37.697.593) (952.193.404) (3.684.741) (2.662.711.429) Changes in unexpired risks reserve, net off reinsurers’ share -- 11.913.256 - (20.662.712) Change in equalization reserve, net off reinsurers’ share (615.487) (203.561.276) 2.485.278 132.356.168 Change in life mathematical reserves, net off reinsurers’ share - - - - Total (63.662.956) (9.945.292.485) (6.691.147) (9.211.659.543) 30 Investment contract benefits None. 31 Other expenses The allocation of the expenses with respect to their nature or function is presented in Note 32 - Expenses by nature below. 32 Operating expenses As of December 31, 2024, and 2023, the operating expenses are disclosed as follows: December 31, 2024 December 31, 2023 Life Non-Life Life Non-Life Commission expenses (Note 17) 11.669.139 2.886.597.214 3.346.009 1.646.341.293 Commissions to the intermediaries accrued during the period (Note 17) 24.985.888 3.024.341.885 3.771.452 2.256.165.183 Changes in deferred commission expenses (Note 17) (13.316.749) (137.744.671) (425.443) (609.823.890) Employee benefit expenses (Note 33) 2.239.693 512.648.431 655.383 272.151.223 Technical Operations Exchange Rate Expenses 665.680 720.899.824 647.435 1.374.124.698 Administration expenses 536.884 123.098.628 212.615 83.740.551 Commission income from reinsurers (Note 10) (1.531.550) (165.192.494) (170.880) (26.095.892) Commission income from reinsurers accrued during the period (Note 10) (1.531.550) (160.930.172) (170.880) (25.178.633) Change in deferred commission income (Note 10) -- (4.262.322) - (917.259) Outsourced benefits and services 197.545 40.117.714 77.353 27.548.567 Other 90.169 68.565.135 27.377 106.381.633 Total 13.867.560 4.186.734.452 4.795.292 3.484.192.073 164 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) Notes to the Unconsolidated Financial Statements As of December 31, 2024 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) MİLLİ RE