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) 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 15 170.939.417 155.868.041 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 15 167.674.813 165.814.981 C- Profit Reserves 1.266.340.895 903.648.247 1- Legal Reserves 15 194.945.022 155.933.971 2- Statutory Reserves 15 58.171.807 37.967.890 3- Extraordinary Reserves 15 692.870.924 588.605.263 4- Special Funds (Reserves) 15 16.900.903 - 5- Revaluation of Financial Assets 11,15 284.072.561 99.474.796 6- Other Profit Reserves 15 19.379.678 21.666.327 D- Previous Years’ Profits 192.754.305 103.813.987 1- Previous Years’ Profits 192.754.305 103.813.987 E- Previous Years’ Losses (-) - - 1- Previous Years’ Losses - - F- Net Profit of the Period 15 348.598.908 312.510.614 1- Net Profit of the Period 347.853.694 309.381.420 2- Net Loss of the Period (-) - - 3- Net Income not subject to distribution 745.214 3.129.194 Total Shareholders’ Equity 2.638.633.525 2.135.840.889 Total Liabilities and Shareholders’ Equity 5.506.298.142 4.531.965.239 UNCONSOLIDATED 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 96