MILLI RE 2023 ANNUAL REPORT

Notes to the Consolidated 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) 5 Segment information A segment is a distinguishable component of the Group 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. Business segment Financial information of the Group is presented on life and non-life basis in the accompanying consolidated financial statements. Geographical segment The main geographical segment which the Group operates is Turkey. Hence, the Group has not disclosed report on geographical segments. 6 Tangible assets Movement in tangible assets in the period from January 1 to December 31, 2023 is presented below: January 1, 2023 Addition Foreign currency translation effect (*) Transfers Valuation differences December 31, 2023 Cost: Investment properties (Note 7) (**) 1.894.516.000 - - 1.324.750.000 1.671.336.000 4.890.602.000 Buildings for own use 802.940.000 - - (1.324.750.000) 736.914.000 215.104.000 Machinery and equipment 138.654.988 50.146.939 - (10.007) - 188.791.920 Furniture and fixtures 49.504.580 48.476.345 2.630.094 (32.709.616) - 67.901.403 Land vehicles 12.062.655 - 1.426.373 - - 13.489.028 Other tangible assets (including leasehold improvements) 36.384.889 61.391.526 - - - 97.776.415 Leased tangible assets 3.987.805 - 74.515 - - 4.062.320 Operating Lease vehicles 85.186.741 75.797.779 8.057.000 (9.311.651) - 159.729.869 Operating Lease Buildings 19.255.629 4.391.372 - - - 23.647.001 Construction in progress (***) 11.444.885 89.568.020 - (81.350.454) - 19.662.451 3.053.938.172 329.771.981 12.187.982 (123.381.728) 2.408.250.000 5.680.766.407 Accumulated depreciation: Buildings for own use 19.180 4.111.803 - (3.997.474) - 133.509 Machinery and equipment 91.342.146 20.543.488 - - - 111.885.634 Furniture and fixtures 27.903.639 8.496.326 2.524.234 (3.501.508) - 35.422.691 Land Vehiclesss 6.254.209 2.405.914 935.644 - - 9.595.767 Other tangible assets (including leasehold improvements) 28.658.895 3.885.073 - - - 32.543.968 Leased tangible assets 3.868.886 32.954 (2.915) - - 3.898.925 Operating Lease Vehicles 3.379.521 7.064.916 - - - 10.444.437 Operating Lease Buildings 35.318.218 23.999.353 1.527.325 (9.311.651) - 51.533.245 196.744.694 70.539.827 4.984.288 (16.810.633) - 255.458.176 Net book value 2.857.193.478 5.425.308.231 (*) 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. (***) The costs related to heating and cooling group renewal in the investment in ongoing investments. 221 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