MILLI RE 2023 ANNUAL REPORT

Notes to the Consolidated 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) Value increases in financial assets including equity shares classified as available for sale financial assets and subsidiaries for the last 3 years (including tax effects, excluding minority interest): Year Change in value increase Total increase in value 2023 800.341.974 1.576.301.376 2022 747.941.219 775.959.402 2021 (256.054.379) 28.018.182 As of December 31, 2023, and 2022 the Group’s held to maturity financial assets portfolio are detailed as follows: December 31, 2023 Nominal value Cost Fair value Net book value Debt instruments: Government bonds - USD 29.438.200 27.819.099 30.371.400 29.900.615 Government bonds - EUR 288.572.180 290.038.963 300.728.500 299.539.167 Total held to maturity financial assets 317.858.062 331.099.900 329.439.782 December 31, 2022 Nominal value Cost Fair value Net book value Debt instruments: Government bonds - USD 176.603.279 177.949.150 181.556.360 183.784.275 Government bonds - EUR 196.332.150 184.271.747 199.246.961 196.007.978 Total held to maturity financial assets 362.220.897 380.803.321 379.792.253 As of December 31, 2023, and 2022, the movement of the financial assets is presented below: December 31, 2023 Trading Available-for-Sale Held to maturity Total Balance at the beginning of the period 3.365.235.815 10.155.288.474 379.792.253 13.900.316.542 Acquisitions during the period (51.593.389) 863.770.916 - 812.177.527 Disposals (sale and redemption) 70.117.488.773 3.311.066.912 - 73.428.555.685 Change in the fair value of financial assets (64.745.990.695) (5.497.774.688) (261.560.121) (70.505.325.504) Change in amortized cost of the financial assets 5.703.264.203 3.417.935.254 - 9.121.199.457 Bonus shares acquired - 1.652.117.592 211.207.650 1.863.325.242 Balance at the end of the period 14.388.404.707 13.902.404.460 329.439.782 28.620.248.949 December 31, 2022 Trading Available-for-Sale Held to maturity Total Balance at the beginning of the period 928.078.966 6.930.470.390 1.471.518.019 9.330.067.375 Acquisitions during the period 19.245.992.234 11.257.984.455 - 30.503.976.689 Disposals (sale and redemption) (19.016.601.356) (11.716.088.566) (1.480.061.755) (32.212.751.677) Change in the fair value of financial assets 2.179.888.827 1.887.167.267 - 4.067.056.094 Change in amortized cost of the financial assets - 1.463.883.233 388.335.989 1.852.219.222 Bonus shares acquired 27.877.144 331.871.695 - 359.748.839 Balance at the end of the period 3.365.235.815 10.155.288.474 379.792.253 13.900.316.542 228 MİLLİ RE