MILLI RE 2023 ANNUAL REPORT

Notes to the Unconsolidated Financial Statements As of December 31, 2023 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) 1 General information 1.1 Name of the Company and the ultimate owner of the group The shareholder having direct or indirect control over the shares of Millî Reasürans Türk Anonim Şirketi (“the Company”) is Türkiye İş Bankası AŞ Group (“İş Bankası”) having 87.60% of the outstanding shares. The Company was established in February 26, 1929 and has been operating since in July 19, 1929. 1.2 The Company’s address and legal structure and address of its registered country and registered office (or, if the Company’s address is different from its registered office, the original location where the Company’s actual operations are performed) The Company was registered in Turkey in July 16, 1929 and has the status of ‘Incorporated Company’. The address of the Company’s registered office is “İş Kuleleri, Kule 3, Kat:20-21-22, 34330 Levent, Beşiktaş, İstanbul ” 1.3 Main operations of the Company The Company is primarily engaged in reinsurance and retrocession businesses in domestic and international markets. In 2007, the Company opened a branch in Singapore upon the completion of the necessary local formalities according to the local legislation. Singapore branch has been operating since 2008. 1.4 Details of the Company’s operations and nature of field of activities The Company conducts its operations in accordance with the Insurance Law No. 5684 (“the Insurance Law”) issued in June 14, 2007 dated and 26552 numbered Official Gazette and the communiqués and other regulations in force issued by Republic of Turkey Ministry of Treasury and Finance based on the Insurance Law. The purpose and activities of the Company as stated at the Articles of Association of the Company are as follows: - Providing life and non-life reinsurance and other related products and services in all insurance branches and sub-branches to Turkish and foreign insurance companies; - Managing and participating in reinsurance operations of Pools, - Purchasing, selling, constructing and renting real estates, - Purchasing debt instruments and shares issued by all sorts of commercial, industrial and financial institutions and government agencies as well as providing capital or participating in the establishment of such institutions to provide a consistent, secure and adequate financial income, - In addition to these, carrying out other operations upon recommendation by the Board of Directors and resolution of the General Meeting which are deemed to be beneficial and material for the Company and are not prohibited by the law. 1.5 Average number of the Company’s personnel based on their categories The average number of the personnel during the year in consideration of their categories is as follows: December 31, 2023 December 31, 2022 Top executive 5 5 Managers 28 36 Officers 129 127 Contracted personnel 1 3 Other personnel 11 28 Total 174 199 1.6 Remuneration and similar benefits provided to top management For the year ended December 31, 2023, wages and similar benefits provided to the top management including chairman, members of the board of the directors, general manager, general coordinator, and deputy general managers is amounting to TL 31.011.166 (December 31, 2022: TL 14.904.661). 1.7 Keys used in the distribution of investment income and operating expenses (personnel, administrative, research and development, marketing and selling, services rendered from third parties and other operating expenses) in the financial statements Procedures and principles related to keys used in the financial statements of the companies are determined in accordance with the January 4, 2008 dated and 2008/1 numbered “Communiqué Related to the Procedures and Principles for the Keys Used in the Financial Statements Being Prepared In Accordance With Insurance Accounting Plan” issued by Republic of Turkey Ministry of Treasury and Finance. 106 MİLLİ RE