MILLI RE 2023 ANNUAL REPORT

Notes to the Unconsolidated Financial Statements As of December 31, 2023 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) Capital management The Company’s capital management policies include the following: - To comply with the insurance capital requirements required by Republic of Turkey Ministry of Treasury and Finance - To safeguard the Company’s ability to continue as a going concern In accordance with the “Communiqué on Measurement and Assessment of Capital Adequacy for Insurance, Reinsurance and Individual Pension Companies” issued by Republic of Turkey Ministry of Treasury and Finance on August 23, 2015 dated and 29454 numbered; the Company measured its minimum capital requirement as TL 3.296.213.822 as of December 31, 2023. As of December 31, 2023, and 2022, the capital amount of the Company presented in the unconsolidated financial statements are TL 10.107.826.960 and TL 5.170.486.290 respectively and capital surplus of the Company is more than amounting to TL 6.811.613.138 (December 31, 2022: TL 3.481.322.450) according to the communiqué. 5 Segment Information A segment is a distinguishable component of the Company that is engaged either in providing products or services (business segment), or in providing products or services within a particular economic environment (geographical segment), which is subject to risks and rewards that are different from those of other segments. As of December 31, 2023, the Company operates in life and non-life branches and is not required to present segment reporting since its debt or equity instruments are not traded in a public market. 6 Tangible assets Movement in tangible assets in the period from January 1 to December 31, 2023 is presented below: January 1, 2023 Additions Foreign currency translation effect (*) Disposals Revaluation surplus December 31, 2023 Cost: Investment properties (Note 7) 1.650.131.000 - - (3.153.406.000) 1.533.275.000 30.000.000 Buildings for own use 744.475.000 - - (1.459.750.000) 715.275.000 - Furniture and fixtures 29.953.528 43.313.945 2.630.094 (32.709.616) - 43.187.951 Land vehicles 3.360.121 - 1.426.373 - - 4.786.494 Operating leases 9.441.382 31.870.920 8.131.514 (9.311.651) - 40.132.165 Construction in progress (**) 11.444.885 69.905.568 - (81.350.453) - - Other Tangible Assets - 53.013.225 - - - 53.013.225 2.448.805.916 198.103.658 12.187.981 (4.736.527.720) 2.248.550.000 171.119.835 Accumulated depreciation: Buildings for own use - 3.592.916 - (3.592.916) - - Furniture and fixtures 12.295.792 5.903.317 2.524.234 (3.501.508) - 17.221.835 Land vehicles 2.168.722 704.702 935.644 - - 3.809.068 Operating leases 9.322.463 9.941.999 1.524.409 (9.311.652) - 11.477.219 Other Tangible Assets - 883.554 - - - 883.554 23.786.977 21.026.488 4.984.287 (16.406.076) - 33.391.676 Carrying amounts 2.425.018.939 137.728.159 (*) Foreign currency translation effect resulted from Singapore Branch. (**) With the decision of the Board of Directors dated 25.08.2023, it was decided that the real estate for use and investment purposes registered in the assets of our Company will be placed as capital in Miltaş Turizm İnşaat Ticaret A.Ş., which is a 100% subsidiary of our Company, through partial division within the framework of Articles 19 - 20 of the Corporate Tax Law and Articles 159 - 179 of the Turkish Commercial Code, based on the financial statements of Tax Procedure Law, and that the shares to be issued due to the capital increase will be given to our Company. As of December 31, 2023, the fair value of the transferred properties is TL 4.613.156.000. 136 MİLLİ RE