MILLIRE 2021 ANNUAL REPORT

The accompanying notes are an integral part of these consolidated financial statements. 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) Audited Changes in Equity - December 31, 2020 Note Paid-in capital Equity Share Owned by Company Revaluation of financial assets Inflation Adjustment on Capital Currency translation reserves I - Balance at the end of the previous year - December 31, 2020 15 660.000.000 - 99.474.816 - (34.192.451) II - Change in Accounting Standards - - - - - III - Restated balances (I+II) - January 1, 2020 660.000.000 - 99.474.816 - (34.192.451) A- Capital increase (A1+A2) - - - - - 1- In cash - - - - - 2- From reserves - - - - - B - Effects of changes in group structure - - - - - C - Purchase of own shares - - - - - D - Gains or losses that are not included in the statement of income - - - - - E - Change in the value of financial assets 15 - - 184.597.745 - - F - Currency translation adjustments - - - - 13.025.795 G - Other gains or losses - - - - - H - Inflation adjustment differences - - - - - I - Net profit for the year - - - - - J - Other reserves and transfers from retained earnings 38 - - - - - K - Dividends paid 38 - - - - - IV -Balance at the end of the year - December 31, 2020 15 660.000.000 - 284.072.561 - (21.166.656) Audited Changes in Equity - December 31, 2021 Note Paid-in capital Equity Share Owned by Company Revaluation of financial assets Inflation Adjustment on Capital Currency translation reserves I - Balance at the end of the previous year - December 31, 2020 15 660.000.000 - 284.072.561 - (21.166.656) II - Change in Accounting Standards - - - - - III - Restated balances (I+II) - January 1, 2020 660.000.000 - 284.072.561 - (21.166.656) A- Capital increase (A1+A2) - - - - - 1- In cash - - - - - 2- From reserves - - - - - B - Effects of changes in group structure - - - - - C - Purchase of own shares - - - - - D - Gains or losses that are not included in the statement of income - - - - - E - Change in the value of financial assets 15 - - (256.054.378) - - F - Currency translation adjustments - - - - 63.166.265 G - Other gains or losses - - - - - H - Inflation adjustment differences - - - - - I - Net profit for the year - - - - - J - Other reserves and transfers from retained earnings 38 - - - - - K - Dividends paid 38 - - - - - IV- Balance at the end of the year - December 31, 2021 15 660.000.000 - 28.018.183 - 41.999.609 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31, 2021 178 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