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) Movement in tangible assets in the period from January 1 to December 31, 2022 is presented below: January 1, 2022 Addition Foreign currency translation effect (*) Transfers Valuation differences December 31, 2022 Cost: Investment properties (Note 7) 635.476.000 - - - 1.259.040.000 1.894.516.000 Buildings for own use 256.634.240 - - (159.840) 546.465.600 802.940.000 Machinery and equipment 118.226.398 25.350.215 - (4.921.625) - 138.654.988 Furniture and fixtures 31.332.500 17.851.597 1.294.499 (974.016) - 49.504.580 Land vehiclesss 7.828.373 4.108.912 713.100 (587.730) - 12.062.655 Other tangible assets (including leasehold improvements) 33.256.305 3.128.584 - - - 36.384.889 Leased tangible assets 3.858.073 - - - - 3.858.074 Operating Lease vehicles 73.154.608 9.487.982 2.673.882 - - 85.316.472 Operating Lease Buildings - 19.255.629 - - - 19.255.629 Construction in progress (**) 5.924.030 5.520.855 - - - 11.444.885 1.165.690.527 84.703.774 4.681.481 (6.643.211) 1.805.505.600 3.053.938.171 Accumulated depreciation: Buildings for own use 280.881 1.309.806 - (3.700) (1.567.807) 19.180 Machinery and equipment 78.738.239 17.431.879 - (4.827.972) - 91.342.146 Furniture and fixtures 23.207.163 4.332.762 1.225.518 (861.804) - 27.903.639 Land Vehiclesss 4.527.402 2.007.920 306.617 (587.730) - 6.254.209 Other tangible assets (including leasehold improvements) 26.095.169 2.563.726 - - - 28.658.895 Leased tangible assets 3.858.074 - - - - 3.858.074 Operating Lease Vehicles - 3.379.521 - - - 3.379.521 Operating Lease Buildings 21.289.473 12.166.750 1.872.806 - - 35.329.029 157.996.401 43.192.364 3.404.941 (6.281.206) (1.567.807) 196.744.694 Net book value 1.007.694.127 2.857.193.478 (*) Foreign currency translation effect resulted from Singapore Branch. (**) There are costs related to heating and cooling group renewal in the account of investments in progress. As of 31 December 2023 and 31 December 2022, the Group’s real estates, some of which are for investment purposes and some for use, are valued at their fair value and are valued in this context. The appraisal reports for these real estates were prepared by the CMB licensed real estate appraisal Company in December 2023 for Anadolu Sigorta and in December 2023 for Milli Reasürans. There is no mortgage on the Group’s real estate for use. Milli Re’s real estate for use was revalued as of December 2023, and the appraisal reports for these real estates were prepared in December 2023 by a real estate appraisal Company licensed by the CMB. 222 MİLLİ RE