MILLIRE 2021 ANNUAL REPORT

NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2021 Millî Reasürans Türk Anonim Şirketi (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) (Currency: Turkish Lira (TL)) The Company’s exposure to foreign currency risk is as follows: December 31, 2021 US Dollar Euro Other currencies Total Assets: Cash and cash equivalents 208.041.899 5.287.510 82.016.209 295.345.618 Financial assets and financial investments of risky insurers 778.479.183 270.388.959 - 1.048.868.142 Receivables from main operations 164.898.876 70.688.653 287.351.740 522.939.269 Total foreign currency assets 1.151.419.958 346.365.122 369.367.950 1.867.153.028 Liabilities: Payables arising from main operations (21.137.455) (4.556.502) (71.197.246) (96.891.203) Insurance technical reserves (*) (597.712.006) (263.913.694) (279.939.610) (1.141.565.310) Financial liabilities - - (3.234.894) (3.234.894) Total foreign currency liabilities (618.849.461) (268.470.196) (354.371.750) (1.241.691.407) Net financial position 532.570.497 77.894.926 14.996.198 625.461.621 December 31, 2020 US Dollar Euro Other currencies Total Assets: Cash and cash equivalents 255.831.573 34.279.547 4.470.228 294.581.348 Financial assets and financial investments of risky insurers 340.721.866 55.397.567 - 396.119.433 Receivables from main operations 98.596.016 41.684.005 208.762.775 349.042.796 Total foreign currency assets 695.149.455 131.361.119 213.233.003 1.039.743.577 Liabilities: Payables arising from main operations (20.742.798) (4.800.405) (27.946.680) (53.489.883) Insurance technical reserves (*) (353.021.324) (154.013.462) (178.734.536) (685.769.322) Financial liabilities - - - - Total foreign currency liabilities (373.764.122) (158.813.867) (206.681.216) (739.259.205) Net financial position 321.385.333 (27.452.748) 6.551.787 300.484.372 (*) According to the “Communiqué on Amendments to Communiqué on Technical Reserves for Insurance, Reinsurance and Pension Companies and the Related Assets That Should Be Invested Against Those Technical Reserves” published in Official Gazette no 27655 dated July 28, 2010; foreign currency denominated claims provisions evaluated by the Central Bank of Republic of Turkey’s spot sales rates. TL equivalents of the related monetary amounts denominated in foreign currencies are presented in the above table. Foreign currency rates used for the translation of foreign currency denominated monetary assets and liabilities As of December 31, 2021 and 2020 dates are as follows: Buying Selling Average US Dollar Euro US Dollar Euro US Dollar Euro 31 December 2021 13,3290 15,0867 13,3530 15,1139 8,8557 10,4408 31 December 2020 7,3405 9,0079 7,3537 9,0241 7,0034 8,0140 131 MİLLÎ REASÜRANS ANNUAL REPORT 2021 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