MILLI RE 2020 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2020 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) 11 Financial assets As of December 31, 2020, and 2019, the Group’s financial assets are detailed as follows: December 31, 2020 December 31, 2019 Available for sale financial assets 4.342.132.693 2.247.608.666 Financial assets held for trading 420.642.549 159.450.716 Impairment loss on available for sale financial assets 1.038.057.085 - Impairment in value of financial assets (-) (6.954.540) (6.954.540) Total 5.793.877.787 2.400.104.842 As of December 31, 2020, and 2019, the Group’s financial assets held for trading are detailed as follows: December 31, 2020 Nominal value Cost Fair value Book value Debt instruments: Other TL - 54.089.810 54.114.245 54.114.245 - 54.089.810 54.114.245 54.114.245 Non-fixed income financial assets: Investment funds - 223.246.721 273.173.933 273.173.933 Equity shares - 21.340.238 29.754.475 29.754.475 Derivative guarantees - 61.319.726 63.599.896 63.599.896 - 305.906.685 366.528.304 366.528.304 Total financial assets held for trading - 359.996.495 420.642.549 420.642.549 December 31, 2019 Nominal value Cost Fair value Book value Debt instruments: Other TL - 13.310.217 13.313.760 13.313.760 - 13.310.217 13.313.760 13.313.760 Non-fixed income financial assets: Investment funds 77.430.047 107.307.443 107.307.443 Equity shares 27.805.318 27.358.390 27.358.390 Derivative guarantees 11.638.912 11.471.123 11.471.123 116.874.277 146.136.956 146.136.956 Total financial assets held for trading 130.184.494 159.450.716 159.450.716 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 222