MILLI RE 2020 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) The accompanying notes are an integral part of these consolidated financial statements. (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) ASSETS I- Current Assets Note Audited Current Period December 31, 2020 Audited Prior Period December 31, 2019 A- Cash and Cash Equivalents 14 4.869.424.993 6.391.200.569 1- Cash 14 76.079 117.671 2- Cheques Received 14 400.138 240.000 3- Banks 14 4.097.477.416 5.803.536.011 4- Cheques Given and Payment Orders (-) 14 (8.020) (35.083) 5- Receivables From Credit Cards with Bank Guarantee Due Less Than Three Months 14 771.479.380 587.341.970 6- Other Cash and Cash Equivalents - - B- Financial Assets and Investments with Risks on Policy Holders 11 5.793.877.787 2.400.104.842 1- Financial Assets Available for Sale 11 4.342.132.693 2.247.608.666 2- Financial Assets Held to Maturity 11 1.038.057.085 - 3- Financial Assets Held for Trading 11 420.642.549 159.450.716 4- Loans - - 5- Provision for Loans (-) - - 6- Investments with Risks on Policy Holders - - 7- Equity Shares - - 8- Impairment in Value of Financial Assets (-) 11 (6.954.540) (6.954.540) C- Receivables From Main Operations 12 2.573.475.445 2.019.309.386 1- Receivables From Insurance Operations 12 1.883.850.409 1.487.843.012 2- Provision for Receivables From Insurance Operations (-) 12 (24.744.443) (28.174.144) 3- Receivables From Reinsurance Operations 12 430.658.035 362.508.470 4- Provision for Receivables From Reinsurance Operations (-) - - 5- Cash Deposited For Insurance & Reinsurance Companies 12 283.711.444 197.132.048 6- Loans to Policyholders - - 7- Provision for Loans to Policyholders (-) - - 8- Receivables from Pension Operation - - 9- Doubtful Receivables From Main Operations 4.2,12 453.175.122 360.768.832 10- Provisions for Doubtful Receivables From Main Operations (-) 4.2,12 (453.175.122) (360.768.832) D- Due from Related Parties - - 1- Due from Shareholders - - 2- Due from Affiliates - - 3- Due from Subsidiaries - - 4- Due from Joint Ventures - - 5- Due from Personnel - - 6- Due from Other Related Parties - - 7- Rediscount on Receivables Due from Related Parties (-) - - 8- Doubtful Receivables Due from Related Parties - - 9- Provisions for Doubtful Receivables Due from Related Parties (-) - - E- Other Receivables 12 22.943.064 32.157.258 1- Leasing Receivables - - 2- Unearned Leasing Interest Income (-) - - 3- Deposits and Guarantees Given 12 521.527 411.381 4- Other Receivables 12 22.421.537 31.746.817 5- Discount on Other Receivables (-) - (940) 6- Other Doubtful Receivables 4.2,12 832.788 754.788 7- Provisions for Other Doubtful Receivables (-) 4.2,12 (832.788) (754.788) F- Prepaid Expenses and Income Accruals 976.854.646 646.100.472 1- Deferred Commission Expenses 17 737.789.750 606.023.035 2- Accrued Interest and Rent Income - - 3- Income Accruals 4.2,12 209.572.327 39.168.327 4- Other Prepaid Expenses 4.2,12 29.492.569 909.110 G- Other Current Assets 46.576.398 8.106.719 1- Inventories 1.170.423 1.130.541 2- Prepaid Taxes and Funds 12,19 44.338.424 6.312.824 3- Deferred Tax Assets - - 4- Job Advances 12 211.124 10.000 5- Advances Given to Personnel 12 - - 6- Stock Count Differences - - 7- Other Current Assets 12 856.427 653.354 8- Provision for Other Current Assets (-) - - I- Total Current Assets 14.283.152.333 11.496.979.246 CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2020 Activities and Major Developments Related to Activities General Information Financial Rights Provided to the Members of the Governing Body and Senior Executives Research & Development Activities Milli Re Annual Report 2020 168