MILLI_RE_ANNUAL REPORT 2022

Gain and losses from financial assets Gains and losses recognized in the statement of income, net: December 31, 2022 December 31, 2021 Income from derivative transactions 833.925.736 1.808.979.313 Interest income from bank deposits 567.105.246 593.147.319 Foreign exchange gains 3.507.077.409 3.822.076.685 Interest income from available-for-sale financial assets 219.858.409 226.125.665 Income from participates 292.267.890 146.997.494 Income from investment funds reclassified as available for sale financial assets 167.639.537 236.423.276 Income from equity shares classified as held for trading financial assets 909.959.207 36.991.428 Income from investment funds reclassified as held for trading financial assets 1.014.790.588 116.041.312 Income from equity shares 139.238.153 58.920.201 Income from subsidiaries (592.172) 148.939 Interest income from repos 136.744 160.753 Gains transferred from the statement of equity to the statement of income on disposal of available for sale financial assets ( Note 15) 669.897.779 251.244.060 Interest income from debt securities classified as held to maturity financial investments 129.402.652 94.636.714 Other 2.403.656 7.093.015 Investment income 8.453.110.834 7.398.986.174 Loss from valuation of financial assets (1.336.747) (2.037.569) Loss from derivative transactions (1.245.098.558) (3.017.776.367) Investment management expenses (including interest) (40.507.820) (31.565.502) Loss from disposal of financial assets (223.871.017) (97.064.043) Foreign exchange losses (733.384.634) (843.340.003) Investment expenses (2.244.198.776) (3.991.783.484) Investment income, net 6.208.912.058 3.407.202.690 Financial gains and losses recognized in equity, net: December 31, 2022 December 31, 2021 Fair value changes in available for sale financial assets (Note 15) 1.417.838.998 (4.810.318) Gains transferred from the statement of equity to the statement of income on disposal of available for sale financial assets ( Note 15) (669.897.779) (251.244.060) Total 747.941.219 (256.054.378) Capital management The Company’s capital management policies include the following: • To comply with the insurance capital requirements required by the Republic of Turkey Ministry of Treasury and Finance • To safeguard the Company’s ability to continue as a going concern In accordance with the “Communiqué on Measurement and Assessment of Capital Adequacy for Insurance, Reinsurance and Individual Pension Companies” issued by Republic of Turkey Ministry of Treasury and Finance on August 23, 2015 dated and 29454 numbered; the Company measured its minimum capital requirement as TL 1.689.163.840 (December 31, 2021: TL 980.075.804) As of December 31, 2022. As of December 31, 2022, and 2021, the capital amount of the Company presented in the unconsolidated financial statements are TL 5.170.486.290 and 2.955.427.565 respectively and capital surplus of the Company is amounting to TL 3.481.322.450 (December 31, 2021: TL 1.975.351.761) according to the communiqué. 232 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