MILLI RE 2020 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) NOTES TO THE CONSOLIDATED 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) Insurance risk concentrations The Group’s gross and net insurance risk concentrations (after reinsurance) in terms of insurance branches are summarized as below: Branches December 31, 2020 Gross total claims liability (*) Reinsurance share of total claims liability Net total claims liability Land Vehicles Liability 1.165.767.103 (269.972.050) 895.795.053 Land Vehicles 908.889.970 (2.631.714) 906.258.256 Fire and Natural Disasters 940.369.820 (158.681.964) 781.687.856 General Damages 575.606.131 (54.120.165) 521.485.966 General Liability 151.999.159 (17.735.646) 134.263.513 Sea Vehicles 134.620.558 (36.502.132) 98.118.426 Casualty 33.706.699 (3.067.045) 30.639.654 Marine 72.734.760 (15.062.376) 57.672.384 Life 11.471.676 (3.304.640) 8.167.036 Air Vehicles 166.591.587 (148.035.805) 18.555.782 Health 573.596.008 (27.476.952) 546.119.056 Fidelity Guarantees 2.622.715 (152.399) 2.470.316 Air Vehicles Liability 5.642.962 (802.508) 4.840.454 Legal Protection 421.233 - 421.233 Sea Vehicles Liability 150 - 150 Financial Losses 57.807.756 (33.998.643) 23.809.113 Credits 4.265.608 (667.916) 3.597.692 Total 4.806.113.895 (772.211.955) 4.033.901.940 Branches December 31, 2019 Gross total claims liability (*) Reinsurance share of total claims liability Net total claims liability Land Vehicles Liability 1.147.132.099 (222.298.884) 924.833.215 Land Vehicles 769.928.845 (4.116.796) 765.812.049 Fire and Natural Disasters 907.754.242 (180.566.480) 727.187.762 Health 672.148.717 (37.946.849) 634.201.868 General Damages 531.705.389 (95.853.717) 435.851.672 General Liability 114.399.766 (17.357.975) 97.041.791 Sea Vehicles 145.393.312 (64.253.374) 81.139.938 Marine 64.346.326 (19.131.539) 45.214.787 Casualty 37.420.502 (4.583.387) 32.837.115 Air Vehicles 256.064.429 (229.485.354) 26.579.075 Financial Losses 52.888.453 (33.344.584) 19.543.869 Life 6.307.867 (882.208) 5.425.659 Fidelity Guarantees 6.148.381 (4.119.721) 2.028.660 Air Vehicles Liability 3.820.485 (2.552.384) 1.268.101 Credits 2.206.515 (1.866.169) 340.346 Legal Protection 150.491 - 150.491 Total 4.717.815.819 (918.359.421) 3.799.456.398 (*) Total claims liability includes outstanding claims reserve (paid). Effects of the changes in assumptions used in the measurement of insurance assets and liabilities showing the effect of each change separately that has significant effect on financial statements In the current year, there are no material changes in the assumptions of measurement of insurance assets and liabilities. 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 207