MILLI_RE_ANNUAL REPORT 2022

Gain and losses from financial assets Gains and losses recognized in the statement of income, net: December 31, 2022 December 31, 2021 Gains transferred from the statement of equity to the statement of income on disposal of available for sale financial assets ( Note 15) (498.127) 7.489.833 Interest income from bank deposits 267.603.923 297.325.249 Interest income from debt securities classified as available-for-sale financial assets 249.441.527 105.706.767 Income from equity shares classified as available-for-sale financial assets 55.360 1.395.274 Income from equity shares classified as held for trading financial assets 5.950.406 - Foreign exchange gains 407.982.385 423.659.936 Income from mutual funds classified as available for sale financial assets 56.339.583 4.777.848 Income from mutual funds classified as trading financial assets 142.978.076 51.512.922 Interest income from repos 136.744 160.753 Income from subsidiaries 598.440.531 257.964.520 Income from affiliates 173.412.281 87.218.513 Income from derivative products 25.351.060 - Investment income 1.927.193.749 1.237.211.615 Losses from derivatives transactions (7.060.875) - Foreign exchange losses (17.582.999) (23.195.899) Loss from disposal of financial assets (196.394) (498.511) Investment management expenses (including interest) (303.487) (53.257) Investment expenses (25.143.755) (23.747.667) Investment income, net 1.902.049.994 1.213.463.948 Gains and losses recognized in the statement of equity, net: December 31, 2022 December 31, 2021 Fair value changes in available for sale financial assets (Note 15) 744.443.090 (248.564.546) Gains transferred from the statement of equity to the statement of income on disposal of available for sale financial assets ( Note 15) 498.127 (7.489.833) Total 747.941.217 (256.054.379) Capital management The Company’s capital management policies include the following: • To comply with the insurance capital requirements required by Republic of Turkey Ministry of Treasury and Finance • To safeguard the Company’s ability to continue as a going concern In accordance with the “Communiqué on Measurement and Assessment of Capital Adequacy for Insurance, Reinsurance and Individual Pension Companies” issued by Republic of Turkey Ministry of Treasury and Finance on August 23, 2015 dated and 29454 numbered; the Company measured its minimum capital requirement as TL 1.689.163.840 (December 31, 2021: 980.075.804) As of December 31, 2022. As of December 31, 2022, and 2021, the capital amount of the Company presented in the unconsolidated financial statements are TL 5.170.486.290 and TL 2.955.427.565 respectively and capital surplus of the Company is amounting to TL 3.481.322.450 (December 31, 2021: TL 1.975.351.761) according to the communiqué. 144 MİLLİ RE 2022 ANNUAL REPORT Notes to the Unconsolidated Financial Statements As of December 31, 2022 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 GENERAL INFORMATION FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RESEARCH & DEVELOPMENT ACTIVITIES ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES