MILLI RE 2020 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) The accompanying notes are an integral part of these consolidated financial statements. (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) EQUITY V- Equity Note Audited Current Period December 31, 2020 Audited Prior Period December 31, 2019 A- Paid in Capital 660.000.000 660.000.000 1- (Nominal) Capital 2.13,15 660.000.000 660.000.000 2- Unpaid Capital (-) - - 3- Positive Inflation Adjustment on Capital - - 4- Negative Inflation Adjustment on Capital (-) - - 5- Unregistered Capital - - B- Capital Reserves 15 170.939.417 155.868.049 1- Equity Share Premiums - - 2- Cancellation Profits of Equity Shares - - 3- Profit on Sale to be Transferred to Capital 15 24.431.260 24.245.511 4- Translation Reserves 15 (21.166.656) (34.192.451) 5- Other Capital Reserves 15 167.674.813 165.814.989 C- Profit Reserves 1.195.280.741 832.588.357 1- Legal Reserves 15 194.945.022 155.933.995 2- Statutory Reserves 15 58.171.807 37.967.904 3- Extraordinary Reserves 15 692.870.924 588.605.356 4- Special Funds (Reserves) 16.900.903 - 5- Revaluation of Financial Assets 11,15 284.072.561 99.474.816 6- Other Profit Reserves 15 19.379.678 21.666.335 7- Subsidiary Capital Correction 15 (71.060.154) (71.060.049) D- Previous Years’ Profits 253.955.801 167.547.326 1- Previous Years’ Profits 253.955.801 167.547.326 E- Previous Years’ Losses (-) - - 1- Previous Years’ Losses - - F- Net Profit of the Period 344.161.542 309.978.881 1- Net Profit of the Period 343.416.328 306.849.687 2- Net Loss of the Period (-) - - 3- Net Income not subject to distribution 15 745.214 3.129.194 G- Minority Shares 1.021.870.398 783.522.088 Total Shareholders’ Equity 3.646.207.899 2.909.504.701 Total Liabilities and Shareholders’ Equity 15.770.695.567 12.906.325.302 CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2020 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 172