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) Movement in tangible assets in the period from January 1 to December 31, 2022 is presented below: January 1, 2022 Additions Foreign currency translation effect (*) Disposals Revaluation surplus December 31, 2022 Cost: Investment properties (Note 7) 549.896.000 - - - 1.100.235.000 1.650.131.000 Buildings for own use 234.955.000 - - - 509.520.000 744.475.000 Furniture and fixtures 12.573.415 16.947.889 1.294.499 (862.275) - 29.953.528 Operating leases 3.234.751 - 713.100 (587.730) - 3.360.121 Land vehicles 6.637.769 129.731 2.673.882 - - 9.441.382 Construction in progress (**) 5.924.030 5.520.855 - - - 11.444.885 813.220.965 22.598.475 4.681.481 (1.450.005) 1.609.755.000 2.448.805.916 Accumulated depreciation: 244.194 895.378 - - (1.139.572) - Buildings for own use 8.796.467 3.074.321 1.225.520 (800.516) - 12.295.792 Furniture and fixtures 1.815.252 634.584 306.616 (587.730) - 2.168.722 Land vehicles 3.318.885 4.130.773 1.872.805 - - 9.322.463 Operating leases 14.174.798 8.735.056 3.404.941 (1.388.246) (1.139.572) 23.786.977 Carrying amounts 799.046.167 2.425.018.939 (*) Foreign currency translation effect resulted from Singapore Branch. Expertise reports regarding the Company’s property are prepared by independent professional valuation specialists authorized by CMB in December 2023. As of December 31, 2023, and 2022, the fair values (excluding VAT) and net carrying values of property for own used are presented below: Owner occupied land and buildings Expertise date Expertise value Net Book Value (December 31, 2023 Net Book Value (December 31, 2022) Headquarter Building December 2023 - - 744.475.000 Total - - 744.475.000 Fair value measurement The fair values of property for own use 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, 2023, and 2022, there is no mortgage on Company’s tangible assets. 137 2023 Annual Report GENERAL INFORMATION FINANCIAL RIGHTS PROVIDEDTOTHE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RISKS AND ASSESSMENT OF THE GOVERNING BODY ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES RESEARCH & DEVELOPMENT ACTIVITIES FINANCIAL STATUS FINANCIAL INFORMATION