MILLI RE 2023 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi The accompanying notes are an integral part of these unconsolidated financial statements. (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) II- NON-TECHNICAL SECTION Note Audited Current Period December 31, 2023 Audited Prior Period December 31, 2022 C- Non-Life Technical Profit (A-B) 185.336.437 317.526.796 F- Life Technical Profit (D-E) 11.785.906 6.092.590 I - Individual Retirement Technical Profit (G-H) - - J- Total Technical Profit (C+F+I) 197.122.343 323.619.386 K- Investment Income 7.817.832.550 3.067.317.755 1- Income From Financial Investment 4.2 361.117.238 459.394.897 2- Income from Sales of Financial Investments 4.2 399.078.515 115.496.788 3- Revaluation of Financial Investments 4.2 30.178.754 147.115.807 4- Foreign Exchange Gains 4.2 1.593.897.170 407.982.385 5- Income from Affiliates 4.2 355.585.374 173.412.281 6- Income from Subsidiaries and Joint Ventures 4.2 3.367.901.023 598.440.531 7- Income Received from Land and Building 7 1.596.134.475 1.137.381.257 8- Income from Derivatives 4.2 113.940.001 25.351.060 9- Other Investments 2.742.749 10- Investment Income transferred from Life Technical Part - - L- Investment Expenses (-) (3.661.647.130) (2.251.785.865) 1- Investment Management Expenses (including interest) (-) 4.2 (577.324) (303.487) 2- Valuation Allowance of Investments (-) - - 3- Losses On Sales of Investments (-) 4.2 (13.345.686) (196.394) 4- Investment Income Transferred to Non-Life Technical Part (-) (3.516.302.860) (2.170.788.001) 5- Losses from Derivatives (-) (6.884.346) (7.060.875) 6- Foreign Exchange Losses (-) 4.2 (39.581.334) (17.582.999) 7- Depreciation Expenses (-) 6,8 (28.018.645) (24.330.752) 8- Other Investment Expenses (-) (56.936.935) (31.523.357) M- Other Income and Expenses (+/-) (724.299.710) (250.531.510) 1- Provisions Account (+/-) 47 (153.684.528) (150.438.548) 2- Discount account (+/-) 47 (45.990.646) (9.520.269) 3- Mandatory Earthquake Insurance Account (+/-) - - 4- Inflation Adjustment Account (+/-) - - 5- Deferred Tax Asset Accounts (+/-) 21,35 - - 6- Deferred Tax Expense Accounts (-) (523.942.071) (103.908.015) 7- Other Income and Revenues 2.964.787 13.516.934 8- Other Expense and Losses (-) (3.647.252) (181.612) 9- Prior Period Income - - 10- Prior Period Losses (-) - - N- Net Profit/(Loss) 3.629.008.053 888.619.766 1- Profit/(Loss) Before Tax 3.629.008.053 888.619.766 2- Corporate Tax Liability Provision (-) - - 3- Net Profit (Loss) 3.629.008.053 888.619.766 4- Inflation Adjustment Account - - Unconsolidated Statement of Income For the Year Ended December 31, 2023 101 2023 Annual Report GENERAL INFORMATION FINANCIAL RIGHTS PROVIDEDTOTHE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RISKS AND ASSESSMENT OF THE GOVERNING BODY ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES RESEARCH & DEVELOPMENT ACTIVITIES FINANCIAL STATUS FINANCIAL INFORMATION