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) 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 presented by fair value method As of December 31, 2023 and 2022 on balance sheet and The Company’s investment properties gained TL 1.533.275.000 amount of value in 2023 in the context of expertise report prepared by independent professional valuation specialists authorized by Capital Markets Board of Turkey. From investment property, TL 62.859.475 amount of rent income is obtained from investment properties in the current accounting period (December 31, 2022: TL 37.146.257). As of December 31, 2023, inflation adjusted cost and fair value amounts of the Company’s investment properties are amounting to TL 30.000.000 (December 31, 2022: TL 1.650.131.000). The expertise (excluding VAT) and net book values of investment properties are as follows per real estate. Expertise reports regarding these properties are prepared by independent professional valuation specialists authorized by CMB in December 2023. There is no mortgage on the real estates. As of December 31, 2023, and 2022, details of investment properties and the fair values are as follows: December 31, 2023 Net book value December 31, 2022 Net book value Date of expertise report Value of expertise report Çifteler Land - 6.000 December 2023 - Villa Office Block 30.000.000 174.000.000 December 2023 30.000.000 - Spor Tesisi 30.000.000 20.000.000 December 2023 30.000.000 - Türkiye İş Bankası Şubesi - 154.000.000 December 2023 - Suadiye Fitness Center - 76.150.000 December 2023 - Tunaman Garage - 528.325.000 December 2023 - Operating Center Rental Offices - 871.650.000 December 2023 - Carrying amounts 30.000.000 1.650.131.000 30.000.000 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. 8 Intangible assets Movement in intangible assets in the period from January 1 to December 31, 2023 is presented below: January 1, 2023 Additions Foreign currency translation effects (*) Disposal Transfers December 31, 2023 Cost: Rights 56.102.890 5.998.740 424.999 (696.419) - 61.830.210 Advances on intangible fixed assets (**) 16.109.082 21.501.943 - - - 37.611.025 72.211.972 27.500.683 424.999 (696.419) - 99.441.235 Accumulated amortization: Rights 47.345.521 6.992.157 298.552 (553.444) - 54.082.786 47.345.521 6.992.157 298.552 (553.444) - 54.082.786 Carrying amounts 24.866.451 45.358.449 (*) Foreign currency translation effect resulted from Singapore Branch. (**) Given referring to TFRS 17 consultation and softwares. 138 MİLLİ RE