MILLI RE 2023 ANNUAL REPORT

CORPORATE PROFILE SINCE 1929 MİLLİ RE IS THE WORLD’S FIRST AND ONLY PRIVATELY OWNED COMPANY THAT MANAGED A COMPULSORY REINSURANCE SYSTEM FOR ALL LINES OF BUSINESS. MİLLİ RE’S MAIN OBJECTIVE IS TO ACHIEVE SUSTAINABLE GROWTH BY TRANSLATING ITS STRONG POSITION IN THE LOCAL INSURANCE MARKET AND ITS PROFIT- ORIENTED BUSINESS MODEL, WHICH INCORPORATES CLOSELY MONITORING OF RISK/RETURN BALANCE TO INTERNATIONAL MARKETS. CORPORATE PROFILE Milli Re was established by Türkiye İş Bankası (İşbank) on 26 February 1929 to manage the compulsory reinsurance system and commenced operations on 19 July 1929. As the world’s first and only privately owned company that managed a compulsory reinsurance system for all lines of business, Milli Re has played an important role in the formation and development of the insurance industry in Türkiye. Following the termination of the compulsory reinsurance system, the Company redefined its goals and strategies in alignment with the current conditions and via its strategy of opening to international markets, today continues to serve as a global, prestigious, and trusted reinsurer. Milli Re has been making every effort to support the development of the insurance industry in Türkiye and provide high quality service. The Company meets reinsurance needs of the market with best possible terms and conditions, contributing significantly to the satisfaction of insurance companies by providing prompt claim settlements. While operating the compulsory reinsurance system, the Company also made various contributions to the country such as; • Nationalization of the Turkish insurance industry, • Generation of continuous revenue for the Undersecretariat of Turkish Treasury, • Significant reduction in the outflow of foreign currency, • Providing insurance training and education programs for the insurance industry, • Conducting top notch international relations. Milli Re managed Turkish Reinsurance Pool from 1963 to 1985, and the Economic Cooperation Organization (ECO) Pool from 1967 to 1995, which was originally established under the name of RCD Pool. 6 MİLLİ RE