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)) Classification relevant to fair value information TFRS 7 - Financial instruments: Disclosures requires the classification of fair value measurements into a fair value hierarchy by reference to the observability and significance of the inputs used in measuring fair value of financial instruments measured at fair value to be disclosed. This classification basically relies on whether the relevant inputs are observable or not. Observable inputs refer to the use of market data obtained from independent sources, whereas unobservable inputs refer to the use of predictions and assumptions about the market made by the Company. This distinction brings about a fair value measurement classification generally as follows. Level 1: Fair value measurements using quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2: Fair value measurements using inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices). Level 3: Fair value measurements using inputs for the assets or liability that are not based on observable market data (unobservable inputs). Classification requires the utilization of observable market data, if available. The classification of fair value measurements of financial assets and liabilities measured at fair value is as follows: December 31, 2021 Level 1 Level 2 Level 3 Total Financial assets: Held for trading financial assets (Note 11) 244.003.125 - - 244.003.125 Available for sale financial assets (Note 11) (*) 1.679.920.174 - - 1.679.920.174 Associates (Note 9) - 234.810.535 - 234.810.535 Subsidiaries (Note 9) - 1.248.547.233 - 1.248.547.233 Total financial assets 1.923.923.299 1.483.357.768 - 3.407.281.067 Tangible assets: Investment properties (Note 6) - 549.896.000 - 549.896.000 Owner Occupied Properties (Note 6) - 234.955.000 - 234.955.000 Total tangible assets - 784.851.000 - 784.851.000 Total 1.923.923.299 2.268.208.768 - 4.192.132.067 (*) As of December 31, 2021, securities that are not publicly traded amounting to TL 91.492 have been measured at cost. December 31, 2020 Level 1 Level 2 Level 3 Total Financial assets: Held for trading financial assets (Note 11) 190.742.811 - - 190.742.811 Available for sale financial assets (Note 11) (*) 968.120.094 - - 968.120.094 Associates (Note 9) - 199.595.913 - 199.595.913 Subsidiaries (Note 9) - 1.187.633.948 - 1.187.633.948 Total financial assets 1.158.862.905 1.387.229.861 - 2.546.092.766 Tangible assets: Investment properties (Note 6) - 458.821.000 - 458.821.000 Owner Occupied Properties (Note 6) - 180.163.740 - 180.163.740 Total tangible assets - 638.984.740 - 638.984.740 Total 1.158.862.905 2.026.214.601 - 3.185.077.506 (*) As of December 31, 2021, securities that are not publicly traded amounting to TL 91.491 have been measured at cost. 133 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