MILLI_RE_ANNUAL REPORT 2022

Movement in tangible assets in the period from January 1 to December 31, 2021 is presented below: January 1, 2021 Additions Foreign currency translation effect (*) Disposals Revaluation surplus December 31, 2021 Cost: Investment properties (Note 7) 458.821.000 - - - 91.075.000 549.896.000 Buildings for own use 180.163.740 364.783 - - 54.426.477 234.955.000 Furniture and fixtures 9.712.433 1.841.501 1.432.218 (412.737) - 12.573.415 Operating leases 2.439.414 - 795.337 - - 3.234.751 Land vehicles 3.631.739 4.146.302 2.491.467 (3.631.739) - 6.637.769 Construction in progress (**) - 5.924.030 - - - 5.924.030 654.768.326 12.276.616 4.719.022 (4.044.476) 145.501.477 813.220.965 Accumulated depreciation: Buildings for own use 1.261.560 630.591 - (1.647.957) 244.194 Furniture and fixtures 6.349.770 1.172.819 1.373.935 (100.057) - 8.796.467 Land vehicles 1.049.002 528.130 238.120 - - 1.815.252 Operating leases 3.631.739 2.205.046 1.113.838 (3.631.738) - 3.318.885 12.292.071 4.536.586 2.725.893 (3.731.795) (1.647.957) 14.174.798 Carrying amounts 642.476.255 799.046.167 (*) 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, 2022, and 2021, 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, 2022 Net Book Value (December 31, 2021) Headquarter Building December 2022 744.475.000 744.475.000 234.710.806 Total 744.475.000 744.475.000 234.710.806 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, 2022, and 2021, 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, 2022 and 2021 on balance sheet and The Company’s investment properties gained TL 1.100.235.000 amount of value in 2022 in the context of expertise report prepared by independent professional valuation specialists authorized by Capital Markets Board of Turkey. From investment property, TL 37.146.257 amount of rent income is obtained from investment properties in the current accounting period (31 Aralık 2021: 25.271.333 TL). 146 MİLLİ RE 2022 ANNUAL REPORT Notes to the Unconsolidated Financial Statements As of December 31, 2022 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 GENERAL INFORMATION FINANCIAL RIGHTS PROVIDED TO THE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RESEARCH & DEVELOPMENT ACTIVITIES ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES