MILLIRE 2021 ANNUAL REPORT

(Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) The accompanying notes are an integral part of these unconsolidated financial statements. Millî Reasürans Türk Anonim Şirketi Note Audited Current Period 1 January- December 31, 2021 Audited Prior Period 1 January- December 31, 2020 A - Cash flows from operating activities 1- Cash provided from insurance activities - - 2- Cash provided from reinsurance activities 3.143.349.688 2.114.800.101 3- Cash provided from individual pension business - - 4- Cash used in insurance activities - - 5- Cash used in reinsurance activities (2.811.251.277) (2.016.674.033) 6- Cash used in individual pension business - - 7- Cash provided by operating activities 332.098.411 98.126.068 8- Interest paid - - 9- Income taxes paid (51.468.799) (40.123.021) 10- Other cash inflows 125.557.276 51.578.645 11- Other cash outflows (103.180.281) (70.753.096) 12- Net cash provided by operating activities 303.006.607 38.828.596 B - Cash flows from investing activities - - 1- Proceeds from disposal of tangible assets 1.115 441.347 2- Acquisition of tangible assets 6, 8 (22.601.574) (7.280.291) 3- Acquisition of financial assets 11 (1.654.642.870) (2.707.677.529) 4- Proceeds from disposal of financial assets 11 1.400.667.377 2.382.035.721 5- Interests received 417.115.634 233.485.806 6- Dividends received 96.694.326 80.183.212 7- Other cash inflows 543.242.206 373.333.895 8- Other cash outflows (1.038.865.468) (465.594.809) 9- Net cash provided by investing activities (258.389.254) (111.072.648) C- Cash flows from financing activities - - 1- Equity shares issued - - 2- Cash provided from loans and borrowings - - 3- Finance lease payments - - 4- Dividends paid 2.23 (42.986.569) (42.986.879) 5- Other cash inflows - - 6- Other cash outflows - - 7- Net cash used in financing activities (42.986.569) (42.986.879) D- Effect of exchange rate fluctuations on cash and cash equivalents 330.118.121 48.578 E- Net increase in cash and cash equivalents 331.748.905 (115.182.353) F- Cash and cash equivalents at the beginning of the year 14 1.436.644.494 1.551.826.847 G- Cash and cash equivalents at the end of the year 14 1.768.393.399 1.436.644.494 UNCONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2021 100 MİLLÎ REASÜRANS ANNUAL REPORT 2021 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