MILLI RE 2023 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) The accompanying notes are an integral part of these consolidated financial statements. Audited Changes in Equity - December 31, 2022 Note Paid-in capital Equity Share Owned by Company Revaluation of financial assets Inflation Adjustment on Capital Currency translation reserves I- Balance at the end of the previous year - December 31, 2021 15 660.000.000 - 28.018.183 - 41.999.609 II- Change in Accounting Standards - - - - III- Restated balances (I+II) - January 1, 2022 660.000.000 - 28.018.183 - 41.999.609 A- Capital increase (A1+A2) - - - - - 1- In cash - - - - - 2- From reserves - - - - B- Effects of changes in group structure - - - - - C- Purchase of own shares - - - - - D- Gains or losses that are not included in the statement of income - - - - E- Change in the value of financial assets 15 - - 747.941.219 - - F- Currency translation adjustments - - - - 44.654.832 G- Other gains or losses - - - - - H- Inflation adjustment differences - - - - - I- Net profit for the year - - - - - J- Other reserves and transfers from retained earnings 38 - - - - - K- Dividends paid 38 - - - - - IV- Balance at the end of the year - December 31, 2022 15 660.000.000 - 775.959.402 - 86.654.441 Audited Changes in Equity - December 31, 2023 Note Paid-in capital Equity Share Owned by Company Revaluation of financial assets Inflation Adjustment on Capital Currency translation reserves I- Balance at the end of the previous year - December 31, 2022 15 660.000.000 - 775.959.402 - 86.654.441 II- Change in Accounting Standards - - - - - III- Restated balances (I+II) - January 1, 2023 660.000.000 - 775.959.402 - 86.654.441 A- Capital increase (A1+A2) - - - - - 1- In cash - - - - - 2- From reserves - - - - - B- Effects of changes in group structure - - - - - C- Purchase of own shares - - - - - D - Gains or losses that are not included in the statement of income - - - - - E- Change in the value of financial assets 15 - - 800.341.974 - - F- Currency translation adjustments - - - - 167.862.804 G- Other gains or losses - - - - - H- Inflation adjustment differences - - - - - I- Net profit for the year - - - - - J- Other reserves and transfers from retained earnings 38 - - - - - K- Dividends paid 38 - - - - - IV- Balance at the end of the year - December 31, 2023 15 660.000.000 - 1.576.301.376 - 254.517.245 Consolidated Statement of Changes in Equity For the Year Ended December 31, 2023 180 MİLLİ RE