MILLI_RE_ANNUAL REPORT 2022

As of December 31, 2022, and 2021, the details of bank deposits as follows: December 31, 2022 December 31, 2021 Foreign currency denominated bank deposits - time deposits 561.136.862 223.883.970 - demand deposits 116.626.088 71.456.715 Bank deposits in Turkish Lira - time deposits 1.011.826.258 1.644.191.595 - demand deposits 711.921 469.478 Bank deposits 1.690.301.129 1.940.001.758 15 Equity Paid in capital The shareholder having direct or indirect control over the shares of the Company is İş Bankası Group having 87,60% of outstanding shares. As of December 31, 2022, and, 2021, the shareholding structure of the Company is as follows: Name December 31, 2022 December 31, 2021 Shareholding amount(TL) Shareholding rate (%) Shareholding amount (TL) Shareholding rate (%) Türkiye İş Bankası A.Ş. 578.177.926 87,60 578.177.926 87,60 Groupama Hayat A.Ş. 38.809.894 5,88 38.809.894 5,88 Ankara Doğal Elektrik Üretim ve Ticaret A.Ş. 22.240.456 3,37 22.240.456 3,37 T.C. Ziraat Bankası A.Ş. 16.430.944 2,49 16.430.944 2,49 Other 4.340.780 0,66 4.340.780 0,66 Paid in capital 660.000.000 100,00 660.000.000 100,00 As of December 31, 2021, the issued share capital of the Company is TL 660.000.000 (December 31, 2021: TL 660.000.000) and the share capital of the Company consists of 66.000.000.000 (December 31, 2021: 66.000.000.000 shares) issued shares with TL 0,01 nominal value each. There are no privileges over the shares of the Company. There are not any treasury shares held by the Company itself or by its subsidiaries or associates. There are not any treasury shares issued which will be subject to sale in accordance with forward transactions and contracts. Legal reserves The legal reserves consist of first and second legal reserves in accordance with the Turkish Commercial Code. The first legal reserve is appropriated out of the statutory profits at the rate of 5%, until the total reserve reaches a maximum of 20% of the entity’s share capital. The second legal reserve is appropriated at the rate of 10% of all distributions in excess of 5% of the entity’s share capital. The first and second legal reserves are not available for distribution unless they exceed 50% of the share capital but may be used to absorb losses in the event that the general reserve is exhausted. The movements of legal reserves are as follows: December 31, 2022 December 31, 2021 Legal reserves at the beginning of the period 226.709.388 194.945.022 Transfer from profit 29.616.804 19.027.365 Accounted according to the equity method 5.486.282 12.737.001 Legal reserves at the end of the period 261.812.474 226.709.388 As of December 31, 2022, and December 31, 2021, “Other Reserves and Retained Earnings” includes extraordinary reserves, gains to be added to equity and buildings for own use revaluation differences and other profit reserves. 154 MİLLİ RE 2022 ANNUAL REPORT Notes to the Unconsolidated Financial Statements As of December 31, 2022 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1 GENERAL INFORMATION FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RESEARCH & DEVELOPMENT ACTIVITIES ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES