MILLI_RE_ANNUAL REPORT 2022

Unconsolidated Statement of Income For the Year Ended December 31, 2022 II-NON-TECHNICAL SECTION Note Audited Current Period December 31, 2022 Audited Prior Period December 31, 2021 C- Non-Life Technical Profit (A-B) 317.526.796 224.556.505 F- Life Technical Profit (D-E) 6.092.590 (3.402.391) I - Individual Retirement Technical Profit (G-H) - - J- Total Technical Profit (C+F+I) 323.619.386 221.154.114 K- Investment Income 3.067.317.755 1.353.558.990 1- Income From Financial Investment 4.2 459.394.897 395.751.183 2- Income from Sales of Financial Investments 4.2 115.496.788 38.571.294 3- Revaluation of Financial Investments 4.2 147.115.807 34.046.169 4- Foreign Exchange Gains 4.2 407.982.385 423.659.936 5- Income from Affiliates 4.2 173.412.281 87.218.513 6- Income from Subsidiaries and Joint Ventures 4.2 598.440.531 257.964.520 7- Income Received from Land and Building 7 1.137.381.257 116.346.333 8- Income from Derivatives 4.2 25.351.060 - 9- Other Investments 2.742.749 1.042 10- Investment Income transferred from Life Technical Part - - L- Investment Expenses (-) (2.251.785.865) (865.902.058) 1- Investment Management Expenses (including interest) (-) 4.2 (303.487) (53.257) 2- Valuation Allowance of Investments (-) - - 3- Losses On Sales of Investments (-) 4.2 (196.394) (498.511) 4- Investment Income Transferred to Non-Life Technical Part (-) (2.170.788.001) (795.304.266) 5- Losses from Derivatives (-) (7.060.875) - 6- Foreign Exchange Losses (-) 4.2 (17.582.999) (23.195.899) 7- Depreciation Expenses (-) 6,8 (24.330.752) (19.469.027) 8- Other Investment Expenses (-) (31.523.357) (27.381.098) M- Other Income and Expenses (+/-) (250.531.510) (30.947.807) 1- Provisions Account (+/-) 47 (150.438.548) (62.599.328) 2- Discount account (+/-) 47 (9.520.269) (1.091.600) 3- Mandatory Earthquake Insurance Account (+/-) - - 4- Inflation Adjustment Account (+/-) - - 5- Deferred Tax Asset Accounts (+/-) 21,35 - 23.899.257 6- Deferred Tax Expense Accounts (-) (103.908.015) - 7- Other Income and Revenues 13.516.934 8.945.526 8- Other Expense and Losses (-) (181.612) (101.662) 9- Prior Period Income - - 10- Prior Period Losses (-) - - N- Net Profit/(Loss) 888.619.766 548.965.648 1- Profit/(Loss) Before Tax 888.619.766 677.863.239 2- Corporate Tax Liability Provision (-) - (128.897.591) 3- Net Profit (Loss) 888.619.766 548.965.648 4- Inflation Adjustment Account - - 107 MİLLİ RE 2022 ANNUAL REPORT 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 accompanying notes are an integral part of these unconsolidated financial statements. 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 FINANCIAL STATUS