MILLI RE 2020 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) NOTES TO THE UNCONSOLIDATED 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) 45 Related party transactions For the purpose of the accompanying unconsolidated financial statements, shareholders, key management and members of board of directors together with their families and companies controlled by or affiliated with them, and associated companies are considered and referred to as related parties. The related party balances as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 Türkiye İş Bankası A.Ş. 848.282.685 1.413.861.995 Other 3.779 3.034 Banks 848.286.464 1.413.865.029 Investment funds founded by İş Portföy Yönetimi A.Ş. ( Note 11) 260.487.753 227.606.541 Equity shares of the related parties (Note 11) 157.594.734 77.776.570 Bond issued by Türkiye İş Bankası A.Ş. (Note 11) 100.980.000 26.200.250 Eurobonds issued by Türkiye İş Bankası A.Ş. (Note 11) 90.460.138 74.327.048 Bonds issued by İş GYO A.Ş. (Note 11) 67.265.664 - Bonds issued by İş Faktoring A.Ş. (Note 11) 59.002.800 - Industrial Development Bank of Turkey as bonds issued Inc. (Note 11) 15.229.923 - Financial assets 751.021.012 405.910.409 Türkiye Sigorta A.Ş (Güneş Sigorta A.Ş) 9.979.614 - Halk Hayat ve Emek.(Türkiye Hayat ve Emeklilik A.Ş) 8.505.261 - Halk Sigorta A.Ş.(Türkiye Sigorta A.Ş) 3.869.428 - Anadolu Sigorta 3.691.018 2.551.533 Ziraat Sigorta A.Ş.(Türkiye Sigorta A.Ş) 2.887.098 3.586.897 Türkiye Hayat ve Emeklilik A.Ş (Vakıf Hayat ve Emeklilik A.Ş) 2.398.064 - Anadolu Hayat Emeklilik A.Ş 1.016.579 901.580 İstanbul Umum Sigorta A.Ş 188.991 169.977 Groupama Sigorta A.Ş 97.516 3.416.718 Güven Sigorta T.A.Ş 12.903 - Ziraat Hayat ve Emeklilik(Türkiye Hayat ve Emeklilik A.Ş) 3.834 86.250 HDI Sigorta A.Ş. - 102.879 Liberty Sigorta A.Ş. (HDI Sigorta A.Ş.) - 87.846 Receivables from main operations 32.650.306 10.903.680 Due to shareholders 127.553 116.208 Due to other related parties 8.661 25.166 Due to related parties 136.214 141.374 Allianz Sigorta A.Ş 3.347.558 1.836.870 Axa Sigorta A.Ş 3.116.280 4.481.577 Ergo Sigorta A.Ş. (HDI Sigorta A.Ş.) 766.597 1.519.469 HDI Sigorta A.Ş. 448.088 - Liberty Sigorta A.Ş. (HDI Sigorta A.Ş.) 181.993 65.482 Güven Sigorta T.A.Ş 69.749 124.933 Groupama Sigorta A.Ş 48.697 41.766 Türkiye Sigorta A.Ş (Güneş Sigorta A.Ş) 42.916 - İstanbul Umum Sigorta A.Ş 29.063 22.541 Anadolu Sigorta 15.963 13.406 Halk Sigorta A.Ş.(Türkiye Sigorta A.Ş) 9.338 - Payables from main operations 8.076.242 8.106.044 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 156