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) Gain and losses from financial assets Gains and losses recognized in the statement of income, net: December 31, 2021 December 31, 2020 Income from derivative transactions 1.808.979.313 787.297.521 Interest income from bank deposits 593.147.319 354.970.495 Foreign exchange gains 3.822.076.685 1.112.174.319 Interest income from available-for-sale financial assets 226.125.665 127.162.085 Income from participates 146.997.494 110.657.245 Income from investment funds reclassified as available for sale financial assets 236.423.276 96.729.941 Income from equity shares classified as held for trading financial assets 36.991.428 33.099.883 Income from investment funds reclassified as held for trading financial assets 116.041.312 40.222.452 Income from equity shares 58.920.201 34.236.406 Income from subsidiaries 148.939 63.549 Interest income from repos 160.753 50 Gains transferred from the statement of equity to the statement of income on disposal of available for sale financial assets ( Note 15) 251.244.060 100.066.628 Interest income from debt securities classified as held to maturity financial investments 94.636.714 56.474.517 Other 7.093.015 5.806.771 Investment income 7.398.986.174 2.858.961.862 Loss from valuation of financial assets (2.037.569) (3.920.793) Loss from derivative transactions (3.017.776.367) (776.356.453) Investment management expenses (including interest) (31.565.502) (19.235.674) Loss from disposal of financial assets (97.064.043) (57.271.018) Foreign exchange losses (843.340.003) (608.836.954) Investment expenses (3.991.783.484) (1.465.620.892) Investment income, net 3.407.202.690 1.393.340.970 Financial gains and losses recognized in equity, net: December 31, 2021 December 31, 2020 Fair value changes in available for sale financial assets (Note 15) (4.810.318) 284.664.373 Gains transferred from the statement of equity to the statement of income on disposal of available for sale financial assets ( Note 15) (251.244.060) (100.066.628) Total (256.054.378) 184.597.745 222 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