MILLIRE 2021 ANNUAL REPORT

NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2021 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) Movement in intangible assets in the period from January 1 to December 31, 2020 is presented below: January 1, 2020 Additions Foreign currency translation effects (*) Disposal Transfers December 31, 2020 Cost: Rights 10.494.461 299.763 866.720 (4.460.001) 40.584.723 47.785.666 Advances on intangible fixed assets (**) 37.500.121 3.084.602 - (40.584.723) - 47.994.582 3.384.365 866.720 (4.460.001) - 47.785.666 Accumulated amortization: Rights 7.691.295 12.517.821 866.783 (4.460.001) - 16.615.898 7.691.295 12.517.821 866.783 (4.460.001) - 16.615.898 Carrying amounts 40.303.287 31.169.768 (*) Foreign currency translation effect resulted from Singapore Branch. (**) Given referring to reinsurance computer software. 9 Investments in associates The Company accounts for its subsidiaries, its investments in associates and its joint ventures using the equity method defined in TAS 27 - “Consolidated and Separate Financial Statements” in preparing the unconsolidated financial statements. As of the reporting date, the carrying values of the investments accounted for using equity method accounted in balance sheet in the unconsolidated financial statements of the Company are as follows: December 31, 2021 December 31, 2020 Net book value Participation rate % Net book value Participation rate % Anadolu Hayat Emeklilik 234.810.535 12,46 199.595.913 12,46 Investments in associates, net 234.810.535 199.595.913 Anadolu Sigorta 1.244.554.254 57,31 1.183.837.861 57,31 Miltaş Turizm İnşaat Ticaret Anonim Şirketi 3.992.979 78,00 3.796.087 77,00 Investments in subsidiaries, net 1.248.547.233 1.187.633.948 Total financial asset 1.483.357.768 1.387.229.861 Name Total assets Shareholders’ equity Retained earnings Profit for the year Audited Period Associates: Anadolu Hayat Emeklilik (*) 51.499.992.517 1.884.514.731 108.600.909 699.988.065 Audited. December 31, 2021 Subsidiaries: Miltaş Turizm İnşaat Tic.A.Ş. 5.688.344 5.119.204 8.636 190.948 Not Audited. December 31, 2021 Anadolu Sigorta (*) 16.120.481.026 2.548.455.142 121.103.662 589.834.604 Audited. December 31, 2021 (*) As of December 31, 2021, consolidated financial informations of Anadolu Sigorta and Anadolu Hayat Emeklilik are shown. 138 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