MILLI REASURANS ANNUAL REPORT 2018

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 consolidated financial statements. CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2018 ASSETS II- Non-Current Assets Note Audited Current Period December 31, 2018 Audited-Restated (*) Prior Period December 31, 2017 A- Receivables From Main Operations - - 1- Receivables From Insurance Operations - - 2- Provision for Receivables From Insurance Operations (-) - - 3- Receivables From Reinsurance Operations - - 4- Provision for Receivables From Reinsurance Operations (-) - - 5- Cash Deposited for Insurance & Reinsurance Companies - - 6- Loans to Policyholders - - 7- Provision for Loans to Policyholders (-) - - 8- Receivables From Pension Operations - - 9- Doubtful Receivables from Main Operations 4.2,12 25.352.034 17.966.058 10-Provision for Doubtful Receivables from Main Operations 4.2,12 (25.352.034) (17.966.058) B- Due from Related Parties - - 1- Due from Shareholders - - 2- Due from Affiliates - - 3- Due from Subsidiaries - - 4- Due from Joint Ventures - - 5- Due from Personnel - - 6- Due from Other Related Parties - - 7- Discount on Receivables Due from Related Parties (-) - - 8- Doubtful Receivables Due from Related Parties - - 9- Provisions for Doubtful Receivables Due from Related Parties (-) - - C- Other Receivables 4.2,12 1.627.433 2.205.704 1- Leasing Receivables - - 2- Unearned Leasing Interest Income (-) - - 3- Deposits and Guarantees Given 332.552 320.795 4- Other Receivables 4.2,12 1.419.890 2.129.835 5- Discount on Other Receivables (-) 4.2,12 (125.009) (244.926) 6- Other Doubtful Receivables - - 7- Provisions for Other Doubtful Receivables (-) - - D- Financial Assets 9 202.752.320 199.362.557 1- Investments In Associates - - 2- Affiliates 9 199.307.030 196.165.815 3- Capital Commitments to Affiliates (-) - - 4- Subsidiaries 9 3.445.290 3.196.742 5- Capital Commitments to Subsidiaries (-) - - 6- Joint Ventures - - 7- Capital Commitments to Joint Ventures (-) - - 8- Financial Assets and Investments with Risks on Policy Holders - - 9- Other Financial Assets - - 10- Diminution in Value of Financial Assets (-) - - E- Tangible Fixed Assets 6 693.803.644 616.339.449 1- Investment Properties 6,7 455.721.000 427.026.000 2- Diminution in Value for Investment Properties (-) - - 3- Buildings for Own Use 6 194.296.000 161.310.000 4- Machinery and Equipments 6 80.830.314 56.957.217 5- Furnitures and Fixtures 6 20.572.714 19.688.504 6- Vehicles 6 4.048.489 1.894.818 7- Other Tangible Assets (Including Leasehold Improvements) 6 26.004.573 23.486.838 8- Leased Tangible Fixed Assets 6 3.858.074 3.858.074 9- Accumulated Depreciation (-) 6 (91.527.520) (77.882.002) 10- Advances Paid for Tangible Fixed Assets (Including Construction In Progresses) - - F- Intangible Fixed Assets 8 105.158.740 83.327.989 1- Rights 8 150.150.335 126.607.897 2- Goodwill 8 16.250.000 16.250.000 3- Establishment Costs - - 4- Research and Development Expenses - - 6- Other Intangible Assets - - 7- Accumulated Amortizations (-) 8 (119.916.179) (104.579.269) 8- Advances Regarding Intangible Assets 8 58.674.584 45.049.361 G- Prepaid Expenses and Income Accruals 9.646.135 6.690.268 1- Deferred Commission Expenses 17 9.445.638 6.639.202 2- Accrued Interest and Rent Income - - 3- Other Prepaid Expenses 4.2 200.497 51.066 H- Other Non-current Assets 21 30.913.525 22.161.260 1- Effective Foreign Currency Accounts - - 2- Foreign Currency Accounts - - 3- Inventories - - 4- Prepaid Taxes and Funds - - 5- Deferred Tax Assets 21 30.913.525 22.161.260 6- Other Non-current Assets - - 7- Other Non-current Assets Amortization (-) - - 8- Provision for Other Non-current Assets (-) - - II- Total Non-current Assets 1.043.901.796 930.087.227 TOTAL ASSETS 10.541.911.365 9.044.415.373 (*) Information related to restated financial statements has been disclosed in Note 2.1.6 “Accounting Policies, Changes and Mistakes in Accounting Estimates. Millî Reasürans Annual Report 2018 Consolidated Financial Statements and Independent Auditors’ Report / 165