MILLIRE 2021 ANNUAL REPORT

NOTES TO THE CONSOLIDATED 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) The Group’s exposure to foreign currency risk is as follows: December 31, 2021 US Dollar Euro Other currencies Total Assets: Cash and cash equivalents 328.755.849 327.035.564 99.231.469 755.022.882 Financial assets and financial investments with risks on policyholders 5.319.979.824 632.265.575 - 5.952.245.399 Receivables from main operations 1.359.979.579 463.521.950 547.212.377 2.370.713.906 Total foreign currency assets 7.008.715.252 1.422.823.089 646.443.846 9.077.982.187 Liabilities: Payables arising from main operations (3.453.872.230) (660.656.397) (71.197.246) (4.185.725.873) Insurance technical reserve (*) (109.127.512) (13.483.559) (270.897.303) (393.508.374) Financial Liabilities (3.473.100.234) (662.188.119) (3.234.894) (4.138.523.247) Total foreign currency liabilities (7.036.099.976) (1.336.328.075) (345.329.443) (8.717.757.494) Net financial position (27.384.724) 86.495.014 301.114.403 360.224.693 December 31, 2020 US Dollar Euro Other currencies Total Assets: Cash and cash equivalents 369.842.503 871.399.712 17.550.673 1.258.792.888 Financial assets and financial investments with risks on policyholders 2.822.423.120 305.096.009 - 3.127.519.129 Receivables from main operations 709.983.476 225.066.788 339.148.850 1.274.199.114 Total foreign currency assets 3.902.249.099 1.401.562.509 356.699.523 5.660.511.131 Liabilities: Payables arising from main operations (308.611.765) (95.059.214) (26.460.549) (430.131.528) Insurance technical reserve (*) (767.302.439) (300.700.771) (300.480.850) (1.368.484.060) Financial liabilities (2.211.365.385) (1.037.827.549) - (3.249.192.934) Total foreign currency liabilities (3.287.279.589) (1.433.587.534) (326.941.399) (5.047.808.522) Net financial position 614.969.510 (32.025.025) 29.758.124 612.702.609 (*) According to the “Communiqué on Amendments to Communiqué on Technical Reserves for Insurance, Reinsurance and Pension Companies and the Related Assets That Should Be Invested Against Those Technical Reserves” published in Official Gazette no 27655 dated July 28, 2010; foreign currency denominated claims provisions evaluated by the Central Bank of the Republic of Turkey’s spot sales rates. In order to evaluate the table above, the TL equivalents of the relevant foreign currency amounts are shown. If no exchange rate is specified, foreign currency technical reserves are valued at theTCMB’s selling rate of foreign currency as of December 31, 2021, while other foreign currency transactions are accounted at the prevailing exchange rates on the date of the transaction, and as of the end of the reporting period, active items in foreign currency at the TCMB buying rates and liabilities as of December 31, 2021. It is valued with the TCMB selling rates. Foreign currency rates used for the translation of foreign currency denominated monetary assets and liabilities As of December 31, 2021 and 2020 are as follows: End of the period (Buying) End of the period (Selling) Average US Dollar Euro US Dollar Euro US Dollar Euro 31 December 2021 13,3290 15,0867 13,3530 15,1139 8,8557 10,4408 31 December 2020 7,3405 9,0079 7,3537 9,0241 7,0034 8,0140 218 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