MILLI RE 2020 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2020 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) As of December 31, 2020, and 2019, details of investment properties and the fair values are as follows: December 31, 2020 Net book value December 31, 2019 Net book value Date of expertise report Value of expertise report Çifteler Land 6.000 6.000 December 2020 6.000 Villa Office Block 45.600.000 45.600.000 December 2020 45.600.000 Suadiye Fitness Center 45.840.000 40.270.000 December 2020 45.840.000 Tunaman Garage 155.075.000 133.875.000 December 2020 155.075.000 Operating Center Rental Offices 212.300.000 196.140.000 December 2020 212.300.000 Carrying amounts 458.821.000 415.891.000 458.821.000 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. 8 Intangible assets Movement in intangible assets in the period from January 1 to December 31, 2020 is presented below: January 1, 2020 Additions Foreign currency translation effects (*) Disposal Transfers December 31, 2020 Cost: Rights 10.494.461 299.763 866.720 (4.460 .001) 40.584.723 47.785.666 Advances on intangible fixed assets (**) 37.500.121 3.084.602 - (40.584.723) - 47.994.582 3.384.365 866.720 (4.460.001) 47.785.666 Accumulated amortization: Rights 7.691.295 12.517.821 866.783 (4.460.001) - 16.615.898 7.691.295 12.517.821 866.783 (4.460.001) - 16.615.898 Carrying amounts 40.303.287 31.169.768 (*) Foreign currency translation effect resulted from Singapore Branch. (**) Given referring to reinsurance computer software. Movement in intangible assets in the period from January 1 to December 31, 2019 is presented below: January 1, 2019 Additions Foreign currency translation effects (*) Disposal December 31, 2019 Cost: Rights 8.428.284 1.645.879 420.298 - 10.494.461 Advances on intangible fixed assets (**) 30.103.467 7.396.654 - - 37.500.121 38.531.751 9.042.533 420.298 - 47.994.582 Accumulated amortization: Rights 6.176.494 1.094.877 419.924 - 7.691.295 6.176.494 1.094.877 419.924 - 7.691.295 Carrying amounts 32.355.257 40.303.287 (*) Foreign currency translation effect resulted from Singapore Branch. (**) Given referring to reinsurance computer software. Activities and Major Developments Related to Activities General Information Financial Rights Provided to the Members of the Governing Body and Senior Executives Research & Development Activities Milli Re Annual Report 2020 136