2023 Annual Report

Annual Report 2023

Confident progress

in every area

Contents

AgeSA at a Glance

1. Sabancı Group and Ageas

1. About AgeSA
2. Capital Structure and Shareholders of AgeSA
3. Our Ultimate Purpose and Values

1. Financial and Operational Indicators

1. 2023 in Brief

From Management

1. Message from the Chairman

1. Board of Directors

1. Message from the CEO

1. Senior Management

1. Organization Structure

Activities of AgeSA in 2023

1. Macroeconomic Outlook and Sector Overview for 2023

1. Product Management and Pricing

1. Bancassurance

1. Direct Sales Agencies and Corporate Projects

1. Customer Focus

1. Brand Management and Corporate Communication Activities

1. Corporate Social Responsibility

1. Human Resources and Sustainability Practices

1. Business Technologies Activities

1. Indemnity Unit

Corporate Governance

1. Board of Directors and Activities of the Committee

1. Statements of Independence

1. Statement of Compliance with Corporate Governance Principles
2. Corporate Governance Principles Compliance Information Form and Compliance Report
3. Disclosure Policy

1. Beneficiaries Policy

Financial Information and Risk Management

1. Internal Audit Activities
2. Risks and Assessment by the Management Body

1. Remarks on Special Audits and Statutory Audits in 2023

1. Subsidiaries
2. Legal Remarks
3. Ordinary General Assembly Meeting Agenda for 2023

1. Summary Report of the Board of Directors Submitted to the General Assembly
2. Assessment of the Financial Situation, Profitability and Claims Payment Solvency

1. Dividend Distribution Policy
2. Dividend Distribution Proposal for 2023
3. Dividend Distribution Table for 2023
4. Annual Report Compliance Statement

Financial Reports

1. Unconsolidated Financial Statements and Independent Auditor's Report

1. Information on Consolidated Subsidiaries
2. Consolidated Financial Statements and Independent Auditor's Report

Aiming for a secure future

Since our inception, we have been working tirelessly in light of the principles and values of our Republic to provide the good in the essence of our business toward the goal of a secure society full of happy individuals. We offer innovative solutions in the private pension, life insurance, and personal accident insurance segments to our more than 4 million customers in an effort to secure both the present day and the future. We focus on our customers first, and then on digitalization, in all services and experiences we offer. We prioritize national development and social progress through the countless projects

we undertake in light of social responsibility and sustainability principles.

In line with our good corporate citizen role, we will continue to carry out all products, services and projects that will create value for our country, our people, and our stakeholders.

Insuring every possibility: endowment life insurance

As a leading institution in the life insurance segment, we launched yet another product that focuses on customer needs. We asked ourselves "if anything is possible in life, why shouldn't your life insurance adapt to this?" and unveiled our Endowment Life Insurance product. With this new product, we secure our customers and their loved ones through death, life, and optional disability benefits.

More agile, more digital with every employee

We focus on adapting to the contemporary age with our innovative perspective and continue taking digital transformation steps aimed at increasing agility in our operational processes. Our agile transformation journey which started five years ago continues at the same pace with our training programs and applications. Within this scope, we developed artificial intelligence based virtual assistants to support our employees in their work processes. We carry out transformation initiatives with the goal of creating value, meeting needs quickly, and being a pioneer.