MILLI RE 2023 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi The accompanying notes are an integral part of these consolidated 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 January 1- December 31, 2023 Audited Prior Period January 1- December 31, 2022 C- Net Technical Income - Non-Life (A-B) 7.535.613.133 1.706.065.313 F- Net Technical Income - Life (D-E) 11.785.905 6.092.590 I - Net Technical Income - Pension Business (G-H) - - J- Total Net Technical Income (C+F+I) 7.547.399.038 1.712.157.903 K- Investment Income 23.079.074.496 9.755.996.405 1- Income From Financial Investment 4.2 2.110.889.126 1.184.235.352 2- Income from Sales of Financial Investments 4.2 3.805.216.298 1.666.385.607 3- Revaluation of Financial Investments 4.2 2.489.203.929 969.811.012 4- Foreign Exchange Gains 4.2 11.036.934.305 3.507.077.409 5- Income from Affiliates 4.2 599.301.192 292.267.890 6- Income from Subsidiaries and Joint Ventures 4.2 - (592.172) 7- Income Received from Land and Building 7 1.741.275.879 1.300.142.822 8- Income from Derivatives 4.2 1.296.253.767 833.925.736 9- Other Investments - 2.742.749 10- Investment Income transferred from Life Technical Part - - L- Investment Expense (22.333.349.143) (9.496.149.955) 1- Investment Management Expenses (including interest) (-) 4.2 (214.728.643) (40.507.820) 2- Valuation Allowance of Investments (-) 4.2 (82.669.203) (1.336.747) 3- Losses On Sales of Investments (-) 4.2 (858.310.002) (223.871.017) 4- Investment Income Transferred to Non-Life Technical Part (-) (15.314.595.908) (7.086.316.988) 5- Losses from Derivatives (-) 4.2 (576.504.323) (1.245.098.558) 6- Foreign Exchange Losses (-) 4.2 (5.082.238.998) (733.384.634) 7- Depreciation Expenses (-) 6,8 (147.320.381) (134.110.836) 8- Other Investment Expenses (-) (56.981.685) (31.523.355) M- Income and Expenses From Other and Extraordinary Operations (273.211.707) (268.827.921) 1- Provisions Account (+/-) 47 (436.226.716) (356.390.392) 2- Discount account (+/-) 47 (100.156.604) (73.434.921) 3- Mandatory Earthquake Insurance Account (+/-) - - 4- Inflation Adjustment Account (+/-) - - 5- Deferred Tax Asset Accounts(+/-) 35 263.997.271 143.342.143 6- Deferred Tax Expense Accounts (-) 35 - - 7- Other Income and Revenues 43.429.481 21.245.482 8- Other Expense and Losses (-) (44.255.139) (3.590.233) 9- Prior Period Income - - 10- Prior Period Losses (-) - - N- Net Profit for the Year 6.355.426.820 1.426.393.963 1- Profit/(Loss) Before Tax 8.019.912.684 1.703.176.432 2- Corporate Tax Liability Provision (-) 35 (1.664.485.864) (276.782.469) 3- Net Profit (Loss) 6.355.426.820 1.426.393.963 3.1- Groups Profit/(Loss) 3.631.736.624 861.369.752 3.2- Minority Shares 2.723.690.196 565.024.211 4- Monetary Gains and Losses - - Consolidated Statement of Income For the Year Ended December 31, 2023 179 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