MILLI REASURANS ANNUAL REPORT 2018

Millî Reasürans Türk Anonim Şirketi NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2018 (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) The classification of fair value measurements of financial assets and liabilities measured at fair value is as follows: December 31, 2018 Level 1 Level 2 Level 3 Total Financial assets: Available for sale financial assets (Note 11) (*) 159.260.466 - - 159.260.466 Associates (Note 9) - 118.255.503 - 118.255.503 Subsidiaries (Note 9) - 650.692.496 - 650.692.496 Total financial assets 159.260.446 768.947.999 - 928.208.465 Tangible assets: Investment properties (Note 6) - 392.041.000 - 392.041.000 Owner Occupied Properties (Note 6) - 179.340.000 - 179.340.000 Total tangible assets - 571.381.000 - 571.381.000 Total 159.260.446 1.340.328.999 - 1.499.589.465 (*) As of December 31, 2018, securities that are not publicly traded amounting to TL 728.281 have been measured at cost. December 31, 2017 Level 1 Level 2 Level 3 Total Financial assets: Available for sale financial assets (Note 11) (*) 450.372.494 - - 450.372.494 Associates (Note 9) - 116.391.717 - 116.391.717 Subsidiaries (Note 9) - 547.260.068 - 547.260.068 Total financial assets 450.372.494 663.651.785 - 1.114.024.279 Tangible assets: Investment properties (Note 6) - 365.981.000 - 365.981.000 Owner Occupied Properties (Note 6) - 147.915.000 - 147.915.000 Total tangible assets - 513.896.000 - 513.896.000 Total 450.372.494 1.177.547.785 - 1.627.920.279 (*) As of December 31, 2017, securities that are not publicly traded amounting to TL 708.354 have been measured at cost. Equity share price risk Equity share price risk is defined as the risk of decreasing the market price of equity shares as a result of a decline in index. Millî Reasürans Annual Report 2018 Unconsolidated Financial Statements and Independent Auditors’ Report / 131