Aksigorta : A.Ş. 2023 - Annual Report

Together We Protect

the Valued

ANNUAL REPORT 2023

Contents

Corporate Profile	Activities	Financial Information and Risk
06	Aksigorta A.Ş. 2023 Ordinary	39	The Insurance Industry in	Management
07	General Assembly Agenda	40	2023	68	Information about
Aksigorta in Figures	Assessment of Aksigorta's		Transactions the Company
08	About Aksigorta		Operations in 2023		Enters into with Members of
09	Aksigorta Partnership		40	Customer-Oriented	69	Its Own Risk Group
10	Structure		42	Solutions	Financial Information and
Our Purpose, Our Strategic		Products	74	Risk Management
11	Choices, Our Values		46	Agencies	Quality Policy and Quality
Management's Assessment		48	Other Main Development	75	Management Systems
14	Financial Highlights	Corporate Governance	Risks and Assessment by the
15	Our Customer-Oriented		Management Body
16	Vision	52	Board of Directors	82 Notable Changes in
An Adventure that Dates	55	Statements of		Regulations - 2023
20	Back to 1960	57	Independence	83 Internal Audit Activities
Achievements Crowned with	Board of Auditors	84	Dividend Distribution
	Awards	57	Corporate Governance	85	Proposal
Sustainability	57	Committee	Independent Auditor's Report
Early Detection of Risk	87	on the Annual Report
22	Sustainability Policy	58	Committee	Unconsolidated Financial
25	Sustainability Performance	Executive Board		Statements and
26	Sustainable Products and	61	Corporate Governance		Independent Auditor's Report
27	Services		and Sustainability Principles	138 Information on Consolidated
Social Impact		Compliance Report		Subsidiaries
28	Sustainability Trainings				139 Consolidated Financial
29	Environmental Sustainability					Statements and
30	Corporate Governance					Independent Auditor's Report
32	Compliance with the Future				Contact
	of the Work

Aksigorta Beyond

What can people expect from an insurance company that goes beyond?

In short, can it meet the needs of people with completely different views of insurance?

To see their true needs, to provide a different set of products and services?

In short, can it totally transform people's perception of insurance?

To look at life from a different perspective, not as an insurer but through their own eyes.

People have a different set of priorities from their insurance, not just on the bad days. But what can you expect if an insurance company is there for the good days too?

There is an insurance company that lives to answer these questions.

Keep Living Türkiye

As a company that prioritizes social good, we recognize the importance of reaching the proper awareness level against earthquakes. We launched our Keep Living Türkiye Project in accordance with this awareness. In addition to raising insurance awareness against disasters in our society, this project also supports learning about potential risks and their measures from the subject matter experts. We also launched a donation campaign for our February 6th disaster victims in cooperation with the Needs Map. Within the scope of

the campaign, we transferred the proceeds from Aksigorta's home insurance sales to the disaster region and created an assistance fund.

Innovative Products,

Innovative Services

We listen to our customers' expectations and needs and render the most fitting and highest quality service to them. As

Aksigorta, we focused on the electric vehicle category, a brand new and rapidly growing segment in our country, and unveiled an electric vehicle insurance, the Aksigorta e-kasko insurance, for our customers as a first in our industry. This initiative enabled us to stay abreast of the changing customer trends and the technology of the future while solidifying our sustainability steps.

Differentiating Services,

Unique Customer Experience

We stand by our customers not just at the time of a loss occurrence, but also at the precaution stage before an occurrence. We are breaking new ground in the industry in digitalizing the claims processes. We build a customer experience shaped by advanced technological solutions and upgrade this experience to its best version. We work hard to reach our customers as quickly as possible in accordance with their needs.

Sustainability Steps,

Social Good

We see sustainability as a fundamental approach that is part of every aspect of our business. We focus on low-carbon economic

growth in our products and services to contribute to the development, prosperity, and higher quality of life of our society. We improve our environmental performance in our

operational processes and embrace the Net Zero and Zero Waste goal.

6

Corporate Profile

Sustainability

Activities

Corporate Governance

Financial Information and Risk Management

Aksigorta A.Ş. 2023 Ordinary General Assembly Agenda

1. Opening, and appointment of the Chairmanship Committee of the Meeting,
2. Reading and discussion of the Board of Directors' Activity Report for 2023,
3. Reading of the Auditor Reports' summary for 2023,
4. Reading, discussion, and approval of the financial statements issued for 2023,
5. Release of the Board of Directors from its responsibilities arising out of business activities of 2023,
6. Determination of method of distribution and use of the profit of 2023 and the rates of dividends and profit shares to be distributed,
7. Election of the Board of Directors members and determination of their terms of office,
8. Determination of fees and such other rights as remuneration, bonus and premium of the Directors,
9. Election of auditor,
10. Discussion and approval of the proposed amendment to Article 84 of the Company's Articles of Association,
11. Discussion and approval of the proposed amendment to the Company's Profit Distribution Policy,
12. Discussion and approval of authorizing the Board of Directors to distribute interim dividends for the fiscal year 2024,
13. Presentation of information to General Assembly on donations and grants made during 2023,
14. Determination of limits of donations to be made by the Company within 2024,
15. Authorization granted to Chairman and other members of the board for transactions stipulated in Article 395 and 396 of Turkish Commercial Code,
16. Wishes and requests.

Aksigorta Annual Report 2023

7

Aksigorta in Figures

Aksigorta had TL 21.1 billion total assets as of end-2023.

21.1	3.3	1.6	27.3	1.2	6.7%
TL Billion	TL Billion	TL Billion	TL Billion	TL Billion	Market Share
Total Assets	Shareholders' Equity	Paid-in Capital	Premium Production	Net Profit
Aksigorta,	As of the end of	As of the end of	Aksigorta's	Aksigorta	Aksigorta
which focuses	2023, Aksigorta's	2023, Aksigorta	premium	reached a net	recorded market
on innovation	shareholders'	has TL 1,612 million	production	profit of TL 1,185	share of 6.7% at
with customer-	equity has	paid-in capital.	increased by 101%	million by the	end-2023.
oriented	reached		compared to the	end of 2023.
approaches, had	TL 3.3 billion.		previous year and
TL 21.1 billion total			amounted to
assets as of			TL 27,299 million.
end-2023.

8

Corporate Profile

Sustainability

Activities

Corporate Governance

Financial Information and Risk Management

About Aksigorta

Aksigorta aims to offer a unique insurance experience to its customers as a lifetime risk companion.

3,600+

Agencies

Aksigorta has acted with a customer- oriented and innovative vision and continues its journey with powerful steps forward thanks to its experience and knowledge since the day it was founded. Offering an extensive service network to individual and corporate customers, Aksigorta cooperates with 10 regional offices, 743 employees, over 3,600 independent agencies, 704 Akbank branches, 134 brokers, and nearly 6 thousand contracted institutions, prioritizing customer satisfaction.

In line with its vision, mission and corporate values, Aksigorta continues its operations in compliance with national and international legal regulations.

Following the partnership between Sabancı Holding and Belgian Ageas, the Company has increased its brand awareness and focused its efforts on simple, understandable, and accessible products and services with the "Next- Generation Insurance" approach.

Aksigorta aims to offer a unique insurance experience to its customers, not only at the time of damage, but also as a lifetime risk companion. The Company continues to be a pioneer in the insurance industry by bringing a new perspective to insurance with its customer orientation and innovation approach.

The major shareholders of Aksigorta, whose shares are publicly traded on the BIST National Market under the AKGRT ticker, are H.Ö. Sabancı Holding (36% stake) and Ageas Insurance International N.V. (36% stake). Maintaining to achieve strong financial results in 2023, Aksigorta's total assets reached TL 21,132 million as of year-end and shareholders' equity has reached TL 3,276 million. Aksigorta recorded a total premium production of TL 27,299 million, 101% more compared to the same period last year. Aksigorta recorded market share of 6.7% at end-2023.

743

Employees

10

Regional Offices