MILLI RE 2020 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) The accompanying notes are an integral part of these unconsolidated financial statements. (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) UNCONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2020 ASSETS II- Non-Current Assets Note Audited Current Period December 31, 2020 Audited Prior Period December 31, 2019 A- Receivables From Main Operations 163.933.921 165.250.624 1- Receivables From Insurance Operations - - 2- Provision for Receivables From Insurance Operations (-) - - 3- Receivables From Reinsurance Operations 4.2,12 50.447.197 68.753.775 4- Provision for Receivables From Reinsurance Operations (-) - - 5- Cash Deposited for Insurance & Reinsurance Companies 4.2,12 113.486.724 96.496.849 6- Loans to Policyholders - - 7- Provision for Loans to Policyholders (-) - - 8- Receivables From Pension Operations - - 9- Doubtful Receivables from Main Operations 4.2,12 35.056.517 28.638.564 10- Provision for Doubtful Receivables from Main Operations 4.2,12 (35.056.517) (28.638.564) B- Due from Related Parties - - 1- Due from Shareholders - - 2- Due from Affiliates - - 3- Due from Subsidiaries - - 4- Due from Joint Ventures - - 5- Due from Personnel - - 6- Due from Other Related Parties - - 7- Discount on Receivables Due from Related Parties (-) - - 8- Doubtful Receivables Due from Related Parties - - 9- Provisions for Doubtful Receivables Due from Related Parties (-) - - C- Other Receivables - - 1- Leasing Receivables - - 2- Unearned Leasing Interest Income (-) - - 3- Deposits and Guarantees Given - - 4- Other Receivables - - 5- Discount on Other Receivables (-) - - 6- Other Doubtful Receivables - - 7- Provisions for Other Doubtful Receivables (-) - - D- Financial Assets 4.2,9 1.387.229.861 1.064.041.303 1- Investments In Associates - - 2- Affiliates 4.2,9  199.595.913 160.221.809 3- Capital Commitments to Affiliates (-) - - 4- Subsidiaries 4.2,9 1.187.633.948 903.819.494 5- Capital Commitments to Subsidiaries (-) - - 6- Joint Ventures - - 7- Capital Commitments to Joint Ventures (-) - - 8- Financial Assets and Investments with Risks on Policy Holders - - 9- Other Financial Assets - - 10- Diminution in Value of Financial Assets (-) - - E- Tangible Fixed Assets 6 642.476.255 599.167.225 1- Investment Properties 6,7 458.821.000 415.891.000 2- Diminution in Value for Investment Properties (-) - - 3- Building for own use 6 180.163.740 179.340.000 4- Machinery and Equipments - - 5- Furnitures and Fixtures 6 9.712.433 7.535.039 6- Vehicles 6 2.439.414 2.325.551 7- Other Tangible Assets (Including Leasehold Improvements) - - 8- Leased Tangible Fixed Assets 6  3.631.739 2.938.936 9- Accumulated Depreciation (-) 6 (12.292.071) (8.863.301) 10- Advances Paid for Tangible Fixed Assets (Including Construction In Progresses) - - F- Intangible Fixed Assets 8 31.169.768 40.303.287 1- Rights 8 47.785.666 10.494.461 2- Goodwill - - 3- Establishment Costs - - 4- Research and Development Expenses - - 6- Other Intangible Assets - - 7- Accumulated Amortizations (-) 8 (16.615.898) (7.691.295) 8- Advances Regarding Intangible Assets 8 - 37.500.121 G- Prepaid Expenses and Income Accruals 243.927 373.732 1- Deferred Commission Expenses - - 2- Accrued Interest and Rent Income - - 3- Other Prepaid Expenses 243.927 373.732 H- Other Non-current Assets - - 1- Effective Foreign Currency Accounts - - 2- Foreign Currency Accounts - - 3- Inventories - - 4- Prepaid Taxes and Funds - - 5- Deferred Tax Assets - - 6- Other Non-current Assets - - 7- Other Non-current Assets Amortization (-) - - 8- Provision for Other Non-current Assets (-) - - II- Total Non-current Assets 2.225.053.732 1.869.136.171 TOTAL ASSETS 5.506.298.142 4.531.965.239 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 93