MILLIRE 2021 ANNUAL REPORT

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2021 Millî Reasürans Türk Anonim Şirketi (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) (Currency: Turkish Lira (TL)) 8 Intangible Assets Movement in intangible assets in the period from January 1 to December 31, 2021 is presented below: January 1, 2021 Additions Transfers Foreign currency translation effects (*) Disposals December 31, 2021 Cost: Other intangible assets 325.342.220 19.091.943 80.582.381 128.815 - 425.145.359 Goodwill 9.121.309 96.260.406 (80.582.381) - - 24.799.334 Advances given for intangible assets (**) 16.250.000 - - - - 16.250.000 350.713.529 115.352.349 - 128.815 - 466.194.693 Accumulated amortization: Other intangible assets 193.489.327 70.618.233 - 95.737 - 264.203.297 193.489.327 70.618.233 - 95.737 - 264.203.297 Net book value 157.224.202 201.991.396 (*) Foreign currency translation effect resulted from Singapore Branch. (**) IFRS 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, 2020 is presented below: January 1, 2020 Additions Transfers Foreign currency translation effects (*) Disposals December 31, 2020 Cost: Other intangible assets 227.639.545 7.644.681 93.651.275 866.720 (4.460.001) 325.342.220 Goodwill 42.185.072 60.587.512 (93.651.275) - - 9.121.309 Advances given for intangible assets 16.250.000 - - - - 16.250.000 286.074.617 68.232.193 - 866.720 (4.460.001) 350.713.529 Accumulated amortization: Other intangible assets 145.530.086 51.552.459 - 866.783 (4.460.001) 193.489.327 145.530.086 51.552.459 - 866.783 (4.460.001) 193.489.327 Net book value 140.544.531 157.224.202 (*) Foreign currency translation effect resulted from Singapore Branch. 9 Investments in associates December 31, 2021 December 31, 2020 Book value Participation rate % Book value Participation rate % Anadolu Hayat Emeklilik A.Ş. 395.748.095 21,00 336.397.607 21,00 Affiliates, net 395.748.095 336.397.607 Miltaş Turizm Inşaat Ticaret Anonim Şirketi 3.992.980 78,00 3.796.088 77,00 Subsidiaries, net 3.992.980 3.796.088 Total financial asset 399.741.075 340.193.695 227 MİLLÎ REASÜRANS ANNUAL REPORT 2021 FINANCIAL STATUS RISKS AND ASSESSMENT OF THE GOVERNING BODY UNCONSOLIDATED FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITORS’ REPORT THEREON CONSOLIDATED FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITORS’ REPORT THEREON