MILLIRE 2021 ANNUAL REPORT

NOTES TO THE CONSOLIDATED 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) As of December 31, 2021, 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, 2021) Net Book Value (December 31, 2020) Headquarter September 2021 234.955.000 234.710.806 178.902.180 İzmir Regional Headquarter December 2021 10.480.000 10.452.348 9.494.289 Adana Regional Headquarter December 2021 3.310.000 3.306.772 2.942.774 Lefkoşe Cyprus Branch December 2021 7.244.000 7.239.810 4.346.962 Adana Office December 2021 414.000 413.093 591.972 Other December 2021 210.000 230.530 863.417 Total 256.613.000 256.353.359 197.141.594 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, 2021, and 2020, 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, 2021 and 2020 on balance sheet and the Company’s investment properties gained TL 50.142.500 amount of value in 2020 in the context of expertise report prepared by independent professional valuation specialists authorized by Capital Markets Board. For the year ended December 31, 2021, the Group has rental income from investment properties amounting to TL 102.557.500 (December 31, 2020: TL 20.661.395). As of December 31, 2021, inflation adjusted cost and carrying amounts of the Company’s investment properties are amounting to TL 635.476.000 (December 31, 2020: TL 532.918.500) 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 September 2019. There is no mortgage on Group’s investment properties. As of December 31, 2021, and 2020, details of investment properties and the fair values are as follows: December 31, 2021 Net book value December 31, 2020 Net book value Date of expertise report Value of expertise report Operating Center Rental Offices 265.345.000 212.300.000 September 2021 265.345.000 Suadiye Fitness Center 48.770.000 45.840.000 September 2021 48.770.000 Tunaman Garage 182.925.000 155.075.000 September 2021 182.925.000 Villa Office Block 52.850.000 45.600.000 September 2021 52.850.000 Çifteler Land 6.000 6.000 September 2021 6.000 Other buildings 85.580.000 74.097.500 September 2021 85.580.000 Net book value 635.476.000 532.918.500 635.476.000 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. 226 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