MILLIRE 2021 ANNUAL REPORT

NOTES TO THE CONSOLIDATED 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)) December 31, 2020 Level 1 Level 2 Level 3 Total Financial assets: Available for sale financial assets (Note 11) (*) 3.822.019.091 512.127.114 - 4.334.146.205 Financial assets held for trading (Note 9) 372.949.587 47.692.962 - 420.642.549 Financial assets to be held to maturity (Note 11) 1.038.057.085 - - 1.038.057.085 Associates - 336.397.607 - 336.397.607 Subsidiaries - 3.796.088 - 3.796.088 Total financial assets 5.233.025.763 900.013.771 - 6.133.039.534 Tangible assets: Investment properties (Note 6) - 532.918.500 - 532.918.500 Owner occupied properties (Note 6) - 198.426.240 - 198.426.240 Total tangible assets - 731.344.740 - 731.344.740 Total 5.233.025.763 1.631.358.511 - 6.864.384.274 (*) As of December 31, 2021, securities that are not publicly traded amounting to TL 992.072 (December 31, 2020: TL 1.031.948) have been measured at cost. Equity share price risk Equity share price risk is defined as the risk of decreasing the market price of equity shares as a result of a decline in index. The effect on Group income as a result of 10% change in the fair value of equity instruments held as held for trading financial assets (traded at İstanbul Stock Exchange) due to a reasonably possible change in equity indices, with all other variables held constant, is as follows (excluding tax effect): December 31, 2021 December 31, 2020 Profit or loss Equity (*) Profit or loss Equity (*) Financial assets held for trading (5.534.272) (5.534.272) (2.975.448) (2.975.448) Available for sale financial assets - (43.683.779) - (47.107.203) Total, net (5.534.272) (49.218.051) (2.975.448) (50.082.651) (*) Equity impact includes impact of change of conjectural interest rates on income statement. 221 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