MILLI_RE_ANNUAL REPORT 2022

8 Intangible Assets Movement in intangible assets in the period from January 1 to December 31, 2022 is presented below: January 1, 2022 Additions Transfers Foreign currency translation effects (*) Disposals December 31, 2022 Cost: Other intangible assets 425.145.359 33.819.038 144.997 - 12.748.573 471.857.967 Advances given for intangible assets ( **) 24.799.334 159.626.740 - - (13.645.322) 170.780.752 Goodwill 16.250.000 - - - - 16.250.000 Research & Development - - - - 896.749 896.749 466.194.693 193.445.778 144.997 - - 659.785.468 Accumulated amortization: Other intangible assets 264.203.297 90.918.471 105.749 - - 355.227.517 264.203.297 90.918.471 105.749 - - 355.227.517 Net book value 201.991.396 304.557.950 (*) Foreign currency translation effect resulted from Singapore Branch. (**) IFRS 17 has been given with reference to licensing-consultation and computer software. Movement in intangible assets in the period from January 1 to December 31, 2021 is presented below: January 1, 2021 Additions Foreign currency translation effects (*) Disposals Transfers December 31, 2021 Cost: Other intangible assets 325.342.220 19.091.943 128.815 - 80.582.381 425.145.359 Advances given for intangible assets 9.121.309 96.260.406 - - (80.582.381) 24.799.334 Goodwill 16.250.000 - - - - 16.250.000 350.713.529 115.352.349 128.815 - - 466.194.693 Accumulated amortization: Other intangible assets 193.489.327 70.618.233 95.737 - - 264.203.297 193.489.327 70.618.233 95.737 - - 264.203.297 Net book value 157.224.202 201.991.396 (*) Foreign currency translation effect resulted from Singapore Branch. (**) IFRS 17 has been given with reference to licensing-consultation and computer software. 9 Investments in associates December 31, 2022 December 31, 2021 Book value Participation rate % Book value Participation rate % Anadolu Hayat Emeklilik A.Ş. 727.903.437 21,00 395.748.095 21,00 Affiliates, net 727.903.437 395.748.095 Miltaş Turizm Inşaat Ticaret Anonim Şirketi 4.523.190 100,00 3.992.980 78,00 Subsidiaries, net 4.523.190 3.992.980 Total financial asset 732.426.627 399.741.075 236 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 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