MILLI REASURANS ANNUAL REPORT 2018

(Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) Millî Reasürans Türk Anonim Şirketi The accompanying notes are an integral part of these unconsolidated financial statements. UNCONSOLIDATED 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 - - 1- Leasing Receivables - - 2- Unearned Leasing Interest Income (-) - - 3- Deposits and Guarantees Given - - 4- Other Receivables - - 5- Discount on Other Receivables (-) - - 6- Other Doubtful Receivables - - 7- Provisions for Other Doubtful Receivables (-) - - D- Financial Assets 9 768.947.999 663.651.785 1- Investments In Associates - - 2- Affiliates 9 118.255.503 116.391.717 3- Capital Commitments to Affiliates (-) - - 4- Subsidiaries 9 650.692.496 547.260.068 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 6 573.877.977 515.627.790 1- Investment Properties 6,7 392.041.000 365.981.000 2- Diminution in Value for Investment Properties (-) - - 3- Building for own use 6 179.340.000 147.915.000 4- Machinery and Equipments - - 5- Furnitures and Fixtures 6 6.065.122 5.695.006 6- Vehicles 6 2.270.724 1.604.238 7- Other Tangible Assets (Including Leasehold Improvements) - - 8- Leased Tangible Fixed Assets - - 9- Accumulated Depreciation (-) 6 (5.838.869) (5.567.454) 10- Advances Paid for Tangible Fixed Assets (Including Construction In Progresses) - - F- Intangible Fixed Assets 8 32.355.257 21.834.988 1- Rights 8 8.428.284 6.029.231 2- Goodwill - - 3- Establishment Costs - - 4- Research and Development Expenses - - 6- Other Intangible Assets - - 7- Accumulated Amortizations (-) 8 (6.176.494) (4.242.018) 8- Advances Regarding Intangible Assets 8 30.103.467 20.047.775 G- Prepaid Expenses and Income Accruals 200.497 51.066 1- Deferred Commission Expenses - - 2- Accrued Interest and Rent Income - - 3- Other Prepaid Expenses 200.497 51.066 H- Other Non-current Assets - - 1- Effective Foreign Currency Accounts - - 2- Foreign Currency Accounts - - 3- Inventories - - 4- Prepaid Taxes and Funds - - 5- Deferred Tax Assets - - 6- Other Non-current Assets - - 7- Other Non-current Assets Amortization (-) - - 8- Provision for Other Non-current Assets (-) - - II- Total Non-current Assets 1.375.381.730 1.201.165.629 TOTAL ASSETS 3.738.241.986 3.179.504.466 (*) 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 Unconsolidated Financial Statements and Independent Auditors’ Report / 89