MILLI RE 2020 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2020 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) 14 Cash and cash equivalents As of December 31, 2020, and 2019, the details of cash and cash equivalents are as follows: December 31, 2020 December 31, 2019 At the end of the period At the beginning of the period At the end of the period At the beginning of the period Cash on hand 21.439 60.119 60.119 19.945 Bank deposits 1.591.695.487 1.754.500.598 1.754.500.598 1.742.194.280 Cheques received 400.138 240.000 240.000 - Cash and cash equivalents in the balance sheet 1.592.117.064 1.754.800.717 1.754.800.717 1.742.214.225 Bank deposits - blocked (500) (500) (500) (500) Time deposits with maturities longer than 3 months (145.142.438) (196.631.873) (196.631.873) (409.261.173) Interest accruals on bank deposits (10.329.632) (6.341.497) (6.341.497) (12.664.099) Cash and cash equivalents presented in the statement of cash flows 1.436.644.494 1.551.826.847 1.551.826.847 1.320.288.453 As of December 31, 2020, and 2019, the details of bank deposits as follows: December 31, 2020 December 31, 2019 Foreign currency denominated bank deposits - time deposits 257.078.486 331.620.931 - demand deposits 37.500.098 17.017.549 Bank deposits in Turkish Lira - time deposits 1.297.085.018 1.405.729.088 - demand deposits 31.885 133.030 Bank deposits 1.591.695.487 1.754.500.598 15 Equity Paid in capital The shareholder having direct or indirect control over the shares of the Company is İş Bankası Group having 87,60% of outstanding shares. As of December 31, 2020, and, 2019, the shareholding structure of the Company is as follows: Name December 31, 2020 December 31, 2019 Shareholding amount(TL) Shareholding rate (%) Shareholding amount (TL) Shareholding rate (%) Türkiye İş Bankası A.Ş. 578.177.926 87,60 508.573.072 77,06 Millî Reasürans T.A.Ş. Mensupları Yardımlaşma Sandığı Vakfı (*) - - 69.604.854 10,55 Groupama Hayat A.Ş. 38.809.894 5,88 38.809.894 5,88 Ankara Doğal Elektrik Üretim ve Ticaret A.Ş. 22.240.456 3,37 22.240.456 3,37 T.C. Ziraat Bankası A.Ş. 16.430.944 2,49 16.430.944 2,49 Other 4.340.780 0,66 4.340.780 0,65 Paid in capital 660.000.000 100,00 660.000.000 100,00 (*) As of August 21, 2020, Türkiye İş Bankası A.Ş. purchased 69,604,854 shares of nominal value of TL with all of the rate of 10.55% owned by one of the shareholders of the Company, Millî Reasürans T.A.Ş. Mensupları Yardımlaşma Sandığı Vakfı. It was approved by Milli Reasürans T.A.Ş.’s Board of Directors decision dated 26 August 2020 and numbered 1318. As of December 31, 2020, the issued share capital of the Company is TL 660.000.000 (December 31, 2019: TL 660.000.000) and the share capital of the Company consists of 66.000.000.000 (December 31, 2019: 66.000.000.000 shares) issued shares with TL 0,01 nominal value each. There are no privileges over the shares of the Company. There are not any treasury shares held by the Company itself or by its subsidiaries or associates. There are not any treasury shares issued which will be subject to sale in accordance with forward transactions and contracts. 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 Milli Re Annual Report 2020 142