MILLI_RE_ANNUAL REPORT 2022

Foreign currency rates used for the translation of foreign currency denominated monetary assets and liabilities As of December 31, 2022 and 2021 are as follows: End of the period (Buying) End of the period (Selling) Average US Dollar Euro US Dollar Euro US Dollar Euro December 31,2022 18,6983 19,9708 18,7320 19,9349 16,5512 17,3642 December 31,2021 13,3290 15,1139 13,3530 15,0867 8,8557 10,4408 Exposure to foreign currency risk A 20 percent depreciation of the TL against the following currencies As of December 31, 2022 and 2021 would have increased or decreased equity and profit or loss (excluding tax effects) by the amounts shown below (December 31, 2021: 20 percent depreciation of the TL). This analysis assumes that all other variables, in particular interest rates, remain constant. In case of a 20 percent appreciation of the TL against the following currencies, the effect will be in opposite direction. December 31, 2022 December 31, 2021 Profit or loss Equity (*) Profit or loss Equity (*) US Dollar 615.546.938 615.546.938 (5.476.945) (5.476.945) Euro 26.037.852 26.037.852 17.299.003 17.299.003 Others (25.697.008) (25.697.008) 60.222.881 60.222.881 Total, net 615.887.782 615.887.782 72.044.939 72.044.939 (*) Equity effect also includes profit or loss effect of 20% depreciation of TL against related currencies (December 31, 2021: 20% depreciation of TL). The principal risk to which non-trading portfolios are exposed is the risk of loss from fluctuations in the future cash flows or fair values of financial instrument because of a change in market interest rates. Interest rate risk is managed principally through monitoring interest rate gaps and by having pre-approved limits for repricing bands. 228 MİLLİ RE 2022 ANNUAL REPORT Notes to the Consolidated Financial Statements As of December 31, 2022 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 GENERAL INFORMATION FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RESEARCH & DEVELOPMENT ACTIVITIES ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES