MILLI_RE_ANNUAL REPORT 2022

As of December 31, 2022, the fair values (excluding VAT) and net carrying values of buildings for own use are presented below: Owner occupied land and buildings Expertise date Expertise value Net Book Value (December 31, 2022) Net Book Value (December 31, 2021) Headquarter December 2022 744.475.000 744.475.000 234.710.806 İzmir Regional Headquarter December 2022 35.480.000 35.468.961 10.452.348 Adana Regional Headquarter December 2022 13.050.000 13.044.943 3.306.772 Lefkoşe Cyprus Branch December 2022 8.990.000 8.987.283 7.239.810 Adana Office December 2022 270.000 269.975 413.093 Other December 2022 675.000 674.658 230.530 Total 802.940.000 802.920.820 256.353.359 Fair value measurement The fair values of self-used land and buildings were determined by market comparison technique. The fair value measurement of owner occupied land and buildings is classified as Level 2. As of December 31, 2022, and 2021, there is no mortgage on Group’s tangible assets. 7 Investment properties Additions and disposals for investment properties is given “6- Tangible Assets” note in table of current period movement of tangible assets. Investment properties are started to be presented by fair value method As of December 31, 2022 and 2021 on balance sheet and the Company’s investment properties gained TL 1.259.040.000 amount of value in 2022 in the context of expertise report prepared by independent professional valuation specialists authorized by Capital Markets Board. For the year ended December 31, 2022, the Group has rental income from investment properties amounting to TL 41.102.822 (December 31, 2021: TL 28.519.880). As of December 31, 2022, inflation adjusted cost and carrying amounts of the Company’s investment properties are amounting to TL 1.894.516.000 (December 31, 2021: TL 635.476.000) Property based value of expertise report (excluding VAT) and fair values of investment properties are as follows. Expertise reports regarding these properties are prepared by independent professional valuation specialists authorized by CMB in December 2022. There is no mortgage on Group’s investment properties. As of December 31, 2022, and 2021, details of investment properties and the fair values are as follows: December 31, 2022 Net book value December 31, 2021 Net book value Date of expertise report Value of expertise report Operating Center Rental Offices 871.650.000 265.345.000 December 2022 871.650.000 Suadiye Fitness Center 76.150.000 48.770.000 December 2022 76.150.000 Tunaman Garage 528.325.000 182.925.000 December 2022 528.325.000 Villa Office Block 174.000.000 52.850.000 December 2022 174.000.000 Çifteler Land 6.000 6.000 December 2022 6.000 Other buildings 244.385.000 85.580.000 December 2022 244.385.000 Net book value 1.894.516.000 635.476.000 1.894.516.000 Fair value measurement The fair values of investment properties were determined by market comparison technique. The fair value measurement of owner occupied land and buildings is classified as Level 2. 235 MİLLİ RE 2022 ANNUAL REPORT Notes to the Consolidated 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 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 FINANCIAL STATUS