MILLI_RE_ANNUAL REPORT 2022

Consolidated Statement of Income For the Year Ended December 31, 2022 II-NON-TECHNICAL SECTION Note Audited Current Period January 1- December 31, 2022 Audited Prior Period January 1- December 31, 2021 C- Net Technical Income – Non-Life (A-B) 1.706.065.313 1.008.636.041 F- Net Technical Income – Life (D-E) 6.092.590 (3.402.391) I - Net Technical Income – Pension Business (G-H) - - J- Total Net Technical Income (C+F+I) 1.712.157.903 1.005.233.650 K- Investment Income 9.755.996.405 7.530.233.160 1- Income From Financial Investment 4.2 1.184.235.352 961.030.637 2- Income from Sales of Financial Investments 4.2 1.666.385.607 382.305.022 3- Revaluation of Financial Investments 4.2 969.811.012 277.448.084 4- Foreign Exchange Gains 4.2 3.507.077.409 3.822.076.685 5- Income from Affiliates 4.2 292.267.890 146.997.494 6- Income from Subsidiaries and Joint Ventures 4.2 (592.172) 148.939 7- Income Received from Land and Building 7 1.300.142.822 131.245.944 8- Income from Derivatives 4.2 833.925.736 1.808.979.313 9- Other Investments 2.742.749 1.042 10- Investment Income transferred from Life Technical Part - - L- Investment Expense (9.496.149.955) (7.411.691.709) 1- Investment Management Expenses (including interest) (-) 4.2 (40.507.820) (31.565.502) 2- Valuation Allowance of Investments (-) 4.2 (1.336.747) (2.037.569) 3- Losses On Sales of Investments (-) 4.2 (223.871.017) (97.064.043) 4- Investment Income Transferred to Non-Life Technical Part (-) (7.086.316.988) (3.290.559.596) 5- Losses from Derivatives (-) 4.2 (1.245.098.558) (3.017.776.367) 6- Foreign Exchange Losses (-) 4.2 (733.384.634) (843.340.003) 7- Depreciation Expenses (-) 6,8 (134.110.836) (101.967.531) 8- Other Investment Expenses (-) (31.523.355) (27.381.098) M- Income and Expenses From Other and Extraordinary Operations (268.827.921) (78.577.712) 1- Provisions Account (+/-) 47 (356.390.392) (168.131.584) 2- Discount account (+/-) 47 (73.434.921) (15.554.657) 3- Mandatory Earthquake Insurance Account (+/-) - - 4- Inflation Adjustment Account (+/-) - - 5- Deferred Tax Asset Accounts(+/-) 35 143.342.143 92.278.186 6- Deferred Tax Expense Accounts (-) 35 - - 7- Other Income and Revenues 21.245.482 14.749.237 8- Other Expense and Losses (-) (3.590.233) (1.918.894) 9- Prior Period Income - - 10- Prior Period Losses (-) - - N- Net Profit for the Year 1.426.393.963 739.095.391 1- Profit/(Loss) Before Tax 1.703.176.432 1.045.197.389 2- Corporate Tax Liability Provision (-) 35 (276.782.469) (306.101.998) 3- Net Profit (Loss) 1.426.393.963 739.095.391 3.1-Groups Profit/(Loss) 861.369.752 487.295.000 3.2-Minority Shares 565.024.211 251.800.391 4- Monetary Gains and Losses - - Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1 187 MİLLİ RE 2022 ANNUAL REPORT Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) The accompanying notes are an integral part of these consolidated financial statements. RISKS AND ASSESSMENT OF THE GOVERNING BODY UNCONSOLIDATED FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITORS’ REPORT THEREON CONSOLIDATED FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITORS’ REPORT THEREON FINANCIAL STATUS