MILLI_RE_ANNUAL REPORT 2022

33 Employee benefit expenses As of December 31, 2022, and 2021, employee benefit expenses are disclosed as follows: December 31, 2022 December 31, 2021 Wages and salaries 573.362.338 295.557.164 Employer’s share in social security premiums 174.650.068 87.269.226 Pension fund benefits 16.587.462 7.137.463 Other 53.394.458 22.391.566 Total (Note 32) 817.994.326 412.355.419 34 Financial costs As of December 31, 2022, interest expense arising from the leases that the Group has subject to TFRS 16 Leasing Standards amounting to TL 16.386.267 (31 December 2021: 12.848.980 TL) has accounted under “Investment Management Expenses - Including Interest”; amortization expense amounting to TL 15.546.272 has been accounted under “Depreciation and Amortization Expense” accounts (January 1 – December 31, 2021: 9.277.263). As of December 31, 2022, discounted repayment plans for the Group’s operating leases are as follows (December 31, 2021: TL 62.711.265): Operating lease repayments -TL Up to 1 year 10.904.883 1 - 2 years 13.205.756 2 – 3 years 14.424.088 3 – 4 years 11.496.141 4 – 5 years 13.882.826 Over 5 years 17.252.086 Total 81.165.780 260 MİLLİ RE 2022 ANNUAL REPORT Notes to the Consolidated Financial Statements As of December 31, 2022 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 GENERAL INFORMATION FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RESEARCH & DEVELOPMENT ACTIVITIES ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES