MILLIRE 2021 ANNUAL REPORT

NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2021 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) Movement in tangible assets in the period from January 1 to December 31, 2021 is presented below: January 1, 2020 Additions Foreign currency translation effect (*) Disposals Revaluation surplus December 31, 2020 Cost: Investment properties (Note 7) 415.891.000 - - - 42.930.000 458.821.000 Buildings for own use 179.340.000 823.740 - - - 180.163.740 Furniture and fixtures 7.535.039 2.097.289 333.799 (253.694) - 9.712.433 Operating leases 2.325.551 974.897 202.973 (1.064.007) - 2.439.414 Land vehicles 2.938.936 - 692.803 - - 3.631.739 608.030.526 3.895.926 1.229.575 (1.317.701) 42.930.000 654.768.326 Accumulated depreciation: Buildings for own use 699.341 562.219 - - - 1.261.560 Furniture and fixtures 5.360.612 916.514 324.416 (251.772) - 6.349.770 Land vehicles 1.269.990 483.180 164.772 (868.940) - 1.049.002 Operating leases 1.533.358 1.657.152 441.229 - - 3.631.739 8.863.301 3.619.065 930.417 (1.120.712) - 12.292.071 Carrying amounts 599.167.225 642.476.255 (*) Foreign currency translation effect resulted from Singapore Branch. Expertise reports regarding the Company’s property are prepared by independent professional valuation specialists authorized by CMB in December 2021. As of December 31, 2021, and 2020, the fair values (excluding VAT) and net carrying values of property for own used are presented below: Owner occupied land and buildings Expertise date Expertise value Net Book Value (December 31, 20201 Net Book Value (December 31, 2020) Headquarter Building September 2021 234.955.000 234.710.806 178.902.180 Total 234.955.000 234.710.806 178.902.180 Fair value measurement The fair values of property for own use 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, 2021, and 2020, there is no mortgage on Company’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 presented by fair value method As of December 31, 2021 and 2020 on balance sheet and The Company’s investment properties gained TL 91.075.000 amount of value in 2021 in the context of expertise report prepared by independent professional valuation specialists authorized by Capital Markets Board of Turkey. From investment property, TL 91.075.000 amount of rent income is obtained from investment properties in the current accounting period (December 31, 2020: TL 17.841.090). 136 MİLLÎ REASÜRANS ANNUAL REPORT 2021 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