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) 8 Intangible Assets Movement in intangible assets in the period from January 1 to December 31, 2023 is presented below: January 1, 2023 Additions Transfers Foreign currency translation effects (*) Disposals December 31, 2023 Cost: Other intangible assets 471.857.967 53.515.553 424.999 (696.419) 1.176.311 526.278.411 Advances given for intangible assets ** 170.780.752 93.388.185 - - - 264.168.937 Goodwill 16.250.000 - - - - 16.250.000 Research & Development 896.749 18.937.015 - - (1.176.311) 18.657.453 659.785.468 165.840.753 424.999 (696.419) - 825.354.801 Accumulated amortization: Other intangible assets 355.227.517 78.970.347 298.552 (553.444) - 433.942.972 355.227.517 78.970.347 298.552 (553.444) - 433.942.972 Net book value 304.557.951 391.411.829 (*) Foreign currency translation effect resulted from Singapore Branch. (**) TFRS 17 has been given with reference to licensing-consultation and computer software. 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 (*) Disposals Transfers December 31, 2022 Cost: Other intangible assets 425.145.359 33.819.038 144.997 - 12.748.573 471.857.967 Advances given for intangible assets 24.799.334 159.626.74 - (13.645.322) 170.780.752 Goodwill 16.250.000 - - - - 16.250.000 Research & Development - - - - 896.749 896.749 466.194.693 193.445.778 144.997 - 659.785.468 Accumulated amortization: Other intangible assets 264.203.297 90.918.471 105.749 - - 355.227.517 264.203.297 90.918.471 105.749 - - 355.227.517 Net book value 201.991.396 304.557.951 (*) Foreign currency translation effect resulted from Singapore Branch. (**) TFRS 17 has been given with reference to licensing-consultation and computer software. 9 Investments in associates December 31, 2023 December 31, 2022 Book value Participation rate % Book value Participation rate % Anadolu Hayat Emeklilik A.Ş. 1.354.386.089 21 ,00 727.903.437 21,00 Affiliates, net 1.354.386.089 727.903.437 Miltaş Turizm Inşaat Ticaret Anonim Şirketi - - 4.523.190 100,00 Subsidiaries, net - 4.523.190 Total financial asset 1.354.386.089 732.426.627 224 MİLLİ RE