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. EQUITY V- Equity Note Audited Current Period December 31, 2018 Audited-Restated (*) Prior Period December 31, 2017 A- Paid in Capital 660.000.000 660.000.000 1- (Nominal) Capital 2.13,15 660.000.000 660.000.000 2- Unpaid Capital (-) - - 3- Positive Inflation Adjustment on Capital - - 4- Negative Inflation Adjustment on Capital (-) - - 5- Unregistered Capital - - B- Capital Reserves 15 144.260.431 129.183.348 1- Equity Share Premiums - - 2- Cancellation Profits of Equity Shares - - 3- Profit on Sale to be Transferred to Capital 15 24.245.511 23.723.323 4- Translation Reserves 15 (43.734.932) (28.441.170) 5- Other Capital Reserves 15 163.749.852 133.901.195 C- Profit Reserves 344.299.731 305.814.004 1- Legal Reserves 15 123.041.486 104.684.320 2- Statutory Reserves 15 23.673.668 14.966.872 3- Extraordinary Reserves 15 284.629.618 179.927.446 4- Special Funds (Reserves) - - 5- Revaluation of Financial Assets 11,15 (38.392.942) 52.911.805 6- Other Profit Reserves 15 22.407.950 24.383.610 7- Subsidiary Capital Correction 15 (71.060.049) (71.060.049) D- Previous Years’ Profits 302.129.975 295.004.364 1- Previous Years’ Profits 302.129.975 295.004.364 E- Previous Years’ Losses (-) - - 1- Previous Years’ Losses - - F- Net Profit of the Period 278.283.572 189.669.469 1- Net Profit of the Period 276.733.853 189.669.469 2- Net Loss of the Period (-) - - 3- Net Income not subject to distribution 15 1.549.719 - G- Minority Shares 566.438.403 487.082.315 Total Shareholders’ Equity 2.295.412.112 2.066.753.500 Total Liabilities and Shareholders’ Equity 10.541.911.366 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. CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2018 Millî Reasürans Annual Report 2018 168 / Consolidated Financial Statements and Independent Auditors’ Report