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) CONSOLIDATED STATEMENT OF PROFIT DISTRIBUTION FOR THE PERIOD ENDED DECEMBER 31, 2020 Note Audited Current Period December 31, 2020 (*) Audited Prior Period December 31, 2019 I. PROFIT DISTRIBUTION 1.1. CURRENT YEAR PROFIT (*) 381.115.664 350.548.490 1.2. TAX AND FUNDS PAYABLE 35 (29.030.769) (37.227.141) 1.2.1. Corporate Income Tax (Income Tax) 35 (29.030.769) (37.227.141) 1.2.2. Income tax deduction - 1.2.3. Other taxes and Duties - A. NET PROFIT (1.1 - 1.2) 352.084.895 313.321.349 1.3. PREVIOUS PERIOD LOSSES (-) 1.4. FIR S T LEGAL RESERVE (17.604.245) (15.666.067) 1.5. STATUTORY FUND (-) - B. NET PROFIT DISTRIBUTION [(A-(1.3 + 1.4 + 1.5)] 334.480.650 297.655.282 1.6. FIRST DIVIDEND TO SHAREHOLDERS (-) - (29.765.528) 1.6.1. Holders of shares - (29.765.528) 1.6.2. Holders of Preferred shares - - 1.6.3. Holders of Redeemed shares - - 1.6.4. Holders of Participation Bond - - 1.6.5. Holders of Profit and Loss sharing certificate - - 1.7. DIVIDEND TO PERSONNEL (-) - (3.939.929) 1.8. DIVIDENDS TO BOARD OF DIRECTORS (-) - - 1.9. SECOND DIVIDEND TO SHAREHOLDERS (-) - - 1.9.1. Holders of shares - (13.234.472) 1.9.2. Holders of Preferred shares - (13.234.472) 1.9.3. Holders of Redeemed shares - - 1.9.4. Holders of Participation Bond - - 1.9.5. Holders of Profit and Loss sharing certificate - - 1.10. SECOND LEGAL RESERVE (-) - - 1.11. STATUTORY RESERVES (-) - (1.393.993) 1.12. EXTRAORDINARY RESERVES - - 1.13. OTHER RESERVES - - 1.14. SPECIAL FUNDS - - II. DISTRIBUTION OF RESERVES - - 2.1. DISTRIBUTION OF RESERVES - - 2.2. SECOND LEGAL RESERVES (-) - - 2.3. COMMON SHARES (-) - - 2.3.1. Holders of shares - - 2.3.2. Holders of Preferred shares - - 2.3.3. Holders of Redeemed shares - - 2.3.4. Holders of Participation Bond - - 2.3.5. Holders of Profit and Loss sharing certificate - - 2.4. DIVIDENDS TO PERSONNEL (-) - - 2.5. DIVIDENDS TO BOARD OF DIRECTORS (-) - - III. PROFIT PER SHARE - - 3.1. HOLDERS OF SHARES - - 3.2. HOLDERS OF SHARES (%) - 313.321.349 3.3. HOLDERS OF PREFERRED SHARES - 47,4729 3.4. HOLDERS OF PREFERRED SHARES (%) - - IV. DIVIDEND PER SHARE - - 4.1. HOLDERS OF SHARES - - 4.2. HOLDERS OF SHARES (%) - 43.000.000 4.3. HOLDERS OF PREFERRED SHARES - 6,5152 4.4. HOLDERS OF PREFERRED SHARES (%) - - (*) Since the profit distribution proposal for the year 2020 has not prepared by the Board of Directors, profit distribution table has not been filled yet. (**) As of December 31, 2020, the dividend to be paid to personnel amounting to TL 4.231.201 (December 31, 2019: TL 3.939.929), which is allocated in accordance with TAS 19, has also been added to the profit. In the profit of the period of December 31, 2020, in accordance with the 5th article of Corporate Tax Law, 75% of the sales income arising from the sales income of the affiliate amounting to TL 162.083 which is allocated to be followed under Non-Distributable Period Profit has not been subject to Profit Distribution. In our financial statements which are prepared in accordance with the equity method in accordance with TAS 27 - Consolidated and Individual Financial Statements standard, TL 583.131 (December 31, 2019: TL 3.129.194) Non-Distribution Period Profit, which comes from the accounting of our subsidiary Anadolu Hayat Emeklilik by equity method, has not been subject to Profit Distribution. Financial Status Risks and Assessment of the Governing Body Unconsolidated Financial Statements Together with Independent Auditors’ Report Thereon Consolidated Financial Statements Together with Independent Auditors’ Report Thereon Milli Re Annual Report 2020 179