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)) Capital management The Company’s capital management policies include the following: -- To comply with the insurance capital requirements required by Republic of Turkey Ministry of Treasury and Finance -- To safeguard the Company’s ability to continue as a going concern In accordance with the “Communiqué on Measurement and Assessment of Capital Adequacy for Insurance, Reinsurance and Individual Pension Companies” issued by Republic of Turkey Ministry of Treasury and Finance on August 23, 2015 dated and 29454 numbered; the Company measured its minimum capital requirement as TL 980.075.804 (December 31, 2020: 719.335.487) As of December 31, 2021. As of December 31, 2021, and 2020, the capital amount of the Company presented in the unconsolidated financial statements are TL 3.000.442.620 and TL 2.638.633.525 respectively and capital surplus of the Company is amounting to TL 1.975.351.761 (December 31, 2020: TL 1.813.120.282) according to the communiqué. 5 Segment Information A segment is a distinguishable component of the Company that is engaged either in providing products or services (business segment), or in providing products or services within a particular economic environment (geographical segment), which is subject to risks and rewards that are different from those of other segments. As of December 31, 2021, the Company operates in life and non-life branches and is not required to present segment reporting since its debt or equity instruments are not traded in a public market. 6 Tangible assets Movement in tangible assets in the period from January 1 to December 31, 2021 is presented below: January 1, 2021 Additions Foreign currency translation effect (*) Disposals Revaluation surplus December 31, 2021 Cost: Investment properties (Note 7) 458.821.000 - - - 91.075.000 549.896.000 Buildings for own use 180.163.740 364.783 - - 54.426.477 234.955.000 Furniture and fixtures 9.712.433 1.841.501 1.432.218 (412.737) - 12.573.415 Land vehicles 2.439.414 - 795.337 - - 3.234.751 Operating leases 3.631.739 4.146.302 2.491.467 (3.631.739) - 6.637.769 Construction in progress (**) - 5.924.030 - - - 5.924.030 654.768.326 12.276.616 4.719.022 (4.044.476) 145.501.477 813.220.965 Accumulated depreciation: Buildings for own use 1.261.560 630.591 - (1.647.957) 244.194 Furniture and fixtures 6.349.770 1.172.819 1.373.935 (100.057) - 8.796.467 Land vehicles 1.049.002 528.130 238.120 - - 1.815.252 Operating leases 3.631.739 2.205.046 1.113.838 (3.631.738) - 3.318.885 12.292.071 4.536.586 2.725.893 (3.731.796) (1.647.957) 14.174.798 Carrying amounts 642.476.255 799.046.167 (*) Foreign currency translation effect resulted from Singapore Branch. (**) There are costs related to heating and cooling group renewal in the calculation of the construction in progress. 135 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