MILLIRE 2021 ANNUAL REPORT

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 66 MİLLİ RE ANNUAL REPORT 2021 COMPANY CAPITAL The Company’s capital adequacy is calculated in accordance with the principles set out in the “Regulation on the Measurement and Evaluation of Capital Adequacy of Insurance, Reinsurance and Pension Companies” published in the Official Gazette issue 29454 dated 23 August 2015. According to the calculation based on the principles specified by the Regulation, Milli Re had a surplus of TL 1,975 million as at end of 2021. The Company has sufficient shareholders’ equity to cover liabilities that might result from its existing and potential risks. Capital Adequacy (TL million) 2021 2020 * 2019 Required Capital 980 719 581 Available Capital 2,955 2,532 1,985 Capital Adequacy Result 1,975 1,813 1,403 *2020 was restated according to the “Circular (2021/2) on Reinsurance Companies Satisfying Fiscal and Technical Criteria”. Hence, it differs from Note 4.2 Financial Risk Management under Footnotes to the Consolidated and Unconsolidated Financial Statements as at year end 31 December 2020.