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 intangible assets in the period from January 1 to December 31, 2022 is presented below: January 1, 2022 Additions Foreign currency translation effects (*) Disposal Transfers December 31,2022 Cost: Rights 49.916.464 6.041.429 144.997 - - 56.102.890 Advances on intangible fixed assets (**) 12.469.277 3.639.805 - - - 16.109.082 62.385.741 9.681.234 144.997 - - 72.211.972 Accumulated amortization: Rights 31.644.076 15.595.696 105.749 - - 47.345.521 31.644.076 15.595.696 105.749 - - 47.345.521 Carrying amounts 30.741.665 24.866.451 (*) Foreign currency translation effect resulted from Singapore Branch. 9 Investments in associates The Company accounts for its subsidiaries, its investments in associates and its joint ventures using the equity method defined in TAS 27 - “Consolidated and Separate Financial Statements” in preparing the unconsolidated financial statements. As of the reporting date, the carrying values of the investments accounted for using equity method accounted in balance sheet in the unconsolidated financial statements of the Company are as follows: December 31, 2023 December 31, 2022 Net book value Participation rate % Net book value Participation rate % Anadolu Hayat Emeklilik 803.602.412 12,46 431.889.372 12,46 Investments in associates, net 803.602.412 431.889.372 Anadolu Sigorta 6.262.532.543 57,31 2.328.905.247 57,31 Miltaş Turizm İnşaat Ticaret Anonim Şirketi 3.626.312.896 100,00 4.523.189 100,00 Investments in subsidiaries, net 9.888.845.439 2.333.428.436 Total financial asset 10.692.447.851 2.765.317.808 Name Total assets Shareholders’ equity Retained earnings Profit for the year Audited Period Associates: Anadolu Hayat Emeklilik (*) 162.865.081.357 6.449.457.562 91.094.305 2.853.815.200 Audited. December 31, 2023 Subsidiaries: Miltaş Turizm İnşaat Tic.A.Ş. 4.642.943.000 3.626.312.896 (578.308) 38.478.694 Unaudited. December 31, 2023 Anadolu Sigorta (*) 56.381.517.782 12.217.135.544 533.542.963 6.380.159.747 Audited. December 31, 2023 (*) As of December 31, 2023, consolidated financial informations of Anadolu Sigorta and Anadolu Hayat Emeklilik are shown. 139 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