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) CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2020 ASSETS II- Non-Current Assets Note Audited Current Period December 31, 2020 Audited Prior Period December 31, 2019 A- Receivables From Main Operations 163.933.921 165.250.624 1- Receivables From Insurance Operations - - 2- Provision for Receivables From Insurance Operations (-) - - 3- Receivables From Reinsurance Operations 4.2,12 50.447.197 68.753.775 4- Provision for Receivables From Reinsurance Operations (-) - - 5- Cash Deposited for Insurance & Reinsurance Companies 4.2,12 113.486.724 96.496.849 6- Loans to Policyholders - - 7- Provision for Loans to Policyholders (-) - - 8- Receivables From Pension Operations - - 9- Doubtful Receivables from Main Operations 4.2,12 35.056.517 28.638.564 10- Provision for Doubtful Receivables from Main Operations 4.2,12 (35.056.517) (28.638.564) B- 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- Discount on Receivables Due from Related Parties (-) - - 8- Doubtful Receivables Due from Related Parties - - 9- Provisions for Doubtful Receivables Due from Related Parties (-) - - C- Other Receivables 4.2,12 326.932 326.932 1- Leasing Receivables - - 2- Unearned Leasing Interest Income (-) - - 3- Deposits and Guarantees Given 4.2,12 326.932 326.932 4- Other Receivables - - 5- Discount on Other Receivables (-) - - 6- Other Doubtful Receivables - - 7- Provisions for Other Doubtful Receivables (-) - - D- Financial Assets 9 340.193.695 273.779.014 1- Investments In Associates - - 2- Affiliates 9 336.397.607 270.036.755 3- Capital Commitments to Affiliates (-) - - 4- Subsidiaries 9 3.796.088 3.742.259 5- Capital Commitments to Subsidiaries (-) - - 6- Joint Ventures - - 7- Capital Commitments to Joint Ventures (-) - - 8- Financial Assets and Investments with Risks on Policy Holders - - 9- Other Financial Assets - - 10- Diminution in Value of Financial Assets (-) - - E- Tangible Fixed Assets 6 823.453.113 779.370.918 1- Investment Properties 6,7 532.918.500 482.776.000 2- Diminution in Value for Investment Properties (-) - - 3- Buildings for Own Use 6 198.426.240 195.012.000 4- Machinery and Equipments 6 92.149.319 91.841.231 5- Furnitures and Fixtures 6 27.217.474 22.434.892 6- Vehicles 6 7.033.036 6.919.173 7- Other Tangible Assets (Including Leasehold Improvements) 6 30.451.919 28.826.269 8- Leased Tangible Fixed Assets 6 70.393.383 65.358.069 9- Accumulated Depreciation (-) 6 (135.136.758) (113.796.716) 10- Advances Paid for Tangible Fixed Assets (Including Construction In Progresses) - - F- Intangible Fixed Assets 8 157.224.202 140.544.531 1- Rights 8 325.342.220 227.639.545 2- Goodwill 8 16.250.000 16.250.000 3- Establishment Costs - - 4- Research and Development Expenses - - 6- Other Intangible Assets - - 7- Accumulated Amortizations (-) 8 (193.489.327) (145.530.086) 8- Advances Regarding Intangible Assets 8 9.121.309 42.185.072 G- Prepaid Expenses and Income Accruals 2.411.371 1.818.180 1- Deferred Commission Expenses 17 2.167.444 1.444.448 2- Accrued Interest and Rent Income - - 3- Other Prepaid Expenses 4.2 243.927 373.732 H- Other Non-current Assets 21 - 48.255.857 1- Effective Foreign Currency Accounts - - 2- Foreign Currency Accounts - - 3- Inventories - - 4- Prepaid Taxes and Funds - - 5- Deferred Tax Assets 21 - 48.255.857 6- Other Non-current Assets - - 7- Other Non-current Assets Amortization (-) - - 8- Provision for Other Non-current Assets (-) - - II- Total Non-current Assets 1.487.543.234 1.409.346.056 TOTAL ASSETS 15.770.695.567 12.906.325.302 Financial Status Risks and Assessment of the Governing Body Unconsolidated Financial Statements Together with Independent Auditors’ Report Thereon Consolidated Financial Statements Together with Independent Auditors’ Report Thereon Milli Re Annual Report 2020 169