MILLI RE 2020 ANNUAL REPORT

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 77 Milli Re Annual Report 2020 Out of TL 381,115,664 that constitutes the pretax profit reported in 2019 balance sheet, Less TL 29,030,769 Yielding TL 352,084,895 to be set aside as provision for taxes provided that there is a balance after accrual of taxes, such balance will be added to legal reserves; which is the pretax profit reported in 2019 balance sheet, TL 17,604,245 from the remaining amount of TL 334,480,650 which is 5% pretax profit, set aside for legal reserves as per section 27/a of the Articles of Association; TL 33,448,065 from the remaining amount of TL 301,032,585 which is 10% of pretax profit, be distributed to shareholders as first dividend, as per section 27/c of the Articles of Association, TL 4,231,201 from the remaining amount of TL 296,801,384 for distribution to the personnel, as per section 27/f of the Articles of Association, a total of TL 9,551,935 from the remaining amount of TL 287,249,449 be set aside for second dividend, as per section 27/g of the Articles of Association TL 1,423,120 from the remaining amount of TL 285,826,329 be set aside as statutory reserves as per Article 519/2 (c) of the Turkish Commercial Code TL 17,000,000 the entirety of the remaining amount of TL 268,826,329 to be set aside for acquiring venture capital mutual fund participation shares under Article 325/A of the Tax Procedure Law and Article 10 of the Corporate Tax Law be transferred to retained earnings. Provided that the proposal presented above is approved by your Esteemed Assembly, profit share distribution will take place on 31 March 2021. We extend our thanks to our business partners and our employees who contributed to the positive results achieved in 2020. BOARD OF DIRECTORS Dividend Distribution Proposal