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) 24 Net insurance premium revenue Net insurance premium revenue for non-life branches is presented in detailed in the accompanying unconsolidated statement of income. 25 Fee revenue None. 26 Investment income Investment income is presented in Note 4.2 - Financial risk management . 27 Net income accrual on financial assets Net realized gains on financial assets are presented in Note 4.2 - Financial risk management . 28 Asset held at fair value through profit or loss Presented in “Note 4.2 - Financial Risk Management”. 29 Insurance rights and claims December 31, 2021 December 31, 2020 Life Non-Life Life Non-Life Claims paid, net off reinsurers’ share (10.115.740) (1.305.915.455) (8.167.036) (993.878.791) Changes in outstanding claims reserve, net off reinsurers’ share (5.258.180) (632.097.384) 1.113.555 (267.503.075) Changes in unearned premiums reserve, net off reinsurers’ share 11.000.553 (354.747.859) (6.971.463) (106.244.654) Changes in unexpired risks reserve, net off reinsurers’ share (948.523) (106.748.800) - (24.624.102) Change in equalization reserve, net off reinsurers’ share (5.725) (61.176.976) (345.929) (44.573.541) Change in life mathematical reserves, net off reinsurers’ share 13.014 - 25.677 - Total (5.314.601) (2.460.686.474) (14.345.196) (1.436.824.163) 30 Investment contract benefits None. 31 Other expenses The allocation of the expenses with respect to their nature or function is presented in Note 32 - Expenses by nature below. 154 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