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) As of December 31, 2023, the fair values (excluding VAT) and net carrying values of buildings for own use are presented below: Owner occupied land and buildings Expertise date Expertise value Net Book Value (December 31,2023) Net Book Value (December 31, 2022) Suadiye Spor Salonu December 2023 135.000.000 135.000.000 - Headquarter December 2023 - - 744.475.000 İzmir Regional Headquarter December 2023 39.760.000 39.693.733 35.468.961 Adana Regional Headquarter December 2023 18.780.000 18.748.700 13.044.943 Lefkoşe Cyprus Branch December 2023 17.264.000 17.235.226 8.987.283 Adana Office December 2023 625.000 623.958 269.975 Other December 2023 3.675.000 3.668.875 674.658 Total 215.104.000 214.970.492 802.920.820 Fair value measurement The fair values of self-used land and buildings 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 Group’s tangible assets. 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 started to be presented by fair value method As of December 31, 2023 and 2022 on balance sheet and the Company’s investment properties gained TL 1.671.336.000 amount of value in 2023 in the context of expertise report prepared by independent professional valuation specialists authorized by Capital Markets Board. For the year ended December 31, 2023, the Group has rental income from investment properties amounting to TL 69.939.879 (December 31, 2022: TL 41.102.822). As of December 31, 2023, inflation adjusted cost and carrying amounts of the Company’s investment properties are amounting to TL 4.890.602.000 (December 31, 2022: TL 1.894.516.000) Property based value of expertise report (excluding VAT) and fair values of investment properties are as follows. Expertise reports regarding these properties are prepared by independent professional valuation specialists authorized by CMB in December 2023. There is no mortgage on Group’s investment properties. 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 Teşvikiye (*) 3.038.650.000 871.650.000 December 2023 3.038.650.000 Tunaman Garage 1.187.500.000 76.150.000 December 2023 1.187.500.000 Villa Office Block 282.000.000 528.325.000 December 2023 282.000.000 Suadiye Fitness Center - 174.000.000 December 2023 - Çifteler Land 6.000 6.000 December 2023 6.000 Other buildings 382.446.000 244.385.000 December 2023 382.446.000 Net book value 4.890.602.000 1.894.516.000 4.890.602.000 (*) 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. As of December 31, 2023, the fair value of investment properties transferred through partial division is TL 3,153,406,000. 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. 223 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