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) As of December 31, 2021, and 2020, the movement of the financial assets is presented below: December 31, 2021 Trading Available-for-Sale Held to maturity Total Balance at the beginning of the period 420.642.549 4.335.178.153 1.038.057.085 5.793.877.787 Acquisitions during the period 612.070.482 15.765.943.347 - 16.378.013.829 Disposals (sale and redemption) (730.037.032) (15.317.942.351) (303.407.858) (16.351.387.241) Change in the fair value of financial assets 601.686.722 54.702.285 - 656.389.007 Change in amortized cost of the financial assets - 1.847.947.238 736.868.792 2.584.816.030 Bonus shares acquired 23.716.245 244.641.718 - 268.357.963 Balance at the end of the period 928.078.966 6.930.470.390 1.471.518.019 9.330.067.375 December 31, 2020 Trading Available-for-Sale Held to maturity Total Balance at the beginning of the period 159.450.716 2.240.654.126 - 2.400.104.842 Acquisitions during the period 1.186.197.579 3.438.909.525 939.370.372 5.564.477.476 Disposals (sale and redemption) (1.030.171.284) (2.165.909.707) (96.797.056) (3.292.878.047) Change in the fair value of financial assets 105.165.538 517.626.648 - 622.792.186 Change in amortized cost of the financial assets - 260.612.248 195.483.769 456.096.017 Bonus shares acquired - 43.285.313 - 43.285.313 Balance at the end of the period 420.642.549 4.335.178.153 1.038.057.085 5.793.877.787 Details of the financial assets issued by related parties of the Group are as follows: December 31, 2021 Nominal value Cost Fair value Book value Available for sale financial assets - Investment funds 101.957.587 141.128.226 171.415.425 171.415.425 Available for sale financial assets - Private sector bonds 394.251.825 382.337.119 386.564.161 386.564.161 Available for sale financial assets - Private sector bonds 258.584.875 323.176.383 340.292.712 340.292.712 Financial assets held for trading - Investment funds 50.820.215 141.084.477 235.476.922 235.476.922 Available for sale financial assets - Equity shares - 61.871.244 104.398.469 104.398.469 Financial assets held to maturity - Bonds 466.781.580 454.396.713 461.614.653 469.932.162 Total 1.503.994.162 1.699.762.342 1.708.079.851 December 31, 2020 Nominal value Cost Fair value Book value Available for sale financial assets - Private sector bonds 249.800.000 242.267.052 247.006.728 247.006.728 Available for sale financial assets - Private sector bonds 274.294.130 345.092.297 373.603.758 373.603.758 Available for sale financial assets - Investment funds 18.109.391 223.246.721 273.173.933 273.173.933 Available for sale financial assets - Investment funds 120.369.810 349.955.709 400.926.647 400.926.647 Available for sale financial assets - Equity shares - 61.871.244 157.594.734 157.594.734 Financial assets held for trading - Bonds 323.914.244 316.334.308 333.297.510 324.113.258 Total - 1.538.767.331 1.785.603.310 1.776.419.058 As of December 31, 2021, and 2020, there is no financial assets blocked in favour of the Republic of Turkey Ministry of Treasury and Finance as a guarantee for the insurance activities. 232 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