MILLIRE ENG2024

As of December 31, 2024, and 2023, details of investment properties and the fair values are as follows: December 31, 2024 Net book value December 31, 2023 Net book value Date of expertise report Value of expertise report Villa İş Hanı (*) - 30.000.000 Aralık 2023 30.000.000 - Sports facility - 30.000.000 Aralık 2023 30.000.000 Carrying amounts - 30.000.000 30.000.000 (*) The sale transaction of Villa İş Hanı Sports Facility was completed on May 27, 2024. On August 25, 2023, the Board of Directors decided that the real estate assets registered in the Company’s books, both for use and investment purposes, would be transferred to Miltaş Turizm İnşaat Ticaret A.Ş., a 100% subsidiary of the Company, as capital through a partial spin-off, based on the Corporate Tax Law articles 19 and 20, and the Turkish Commercial Code articles 159 to 179, considering the VUK (Tax Procedure Law) financial statements. The fair value of the real estate transferred as of December 31, 2023, was 4,613,156,000 TL. Fair value measurement The fair values of investment properties were determined by market comparison technique. 8 Intangible assets Movement in intangible assets in the period from January 1 to December 31, 2024 is presented below: January 1, 2024 Additions Foreign currency translation effects (*) Disposal Transfers December 31, 2024 Cost: Rights 61.830.210 307.644 231.183 (48.064.224) - 14.304.813 Advances on intangible fixed assets (**) 37.611.025 35.742.710 - - - 73.353.735 99.441.235 36.050.354 231.183 (48.064.224) - 87.658.548 Accumulated amortization: Rights 54.082.786 4.424.862 197.309 (48.064.224) - 10.640.733 54.082.786 4.424.862 197.309 (48.064.224) - 10.640.733 Carrying amounts 45.358.449 77.017.815 (*) Foreign currency translation effect resulted from Singapore Branch. (**) Given referring to TFRS 17 consultation and softwares. Movement in intangible assets in the period from January 1 to December 31, 2023 is presented below: January 1, 2023 Additions Foreign currency translation effects (*) Disposal Transfers December 31, 2023 Cost: Rights 56.102.890 5.998.740 424.999 (696.419) - 61.830.210 Advances on intangible fixed assets (**) 16.109.082 21.501.943 - - - 37.611.025 72.211.972 27.500.683 424.999 (696.419) - 99.441.235 Accumulated amortization: Rights 47.345.521 6.992.157 298.552 (553.444) - 54.082.786 47.345.521 6.992.157 298.552 (553.444) - 54.082.786 Carrying amounts 24.866.451 45.358.449 (*) Foreign currency translation effect resulted from Singapore Branch. (**) Given referring to TFRS 17 consultation and softwares. 145 2024 Annual Report Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) Notes to the Unconsolidated Financial Statements As of December 31, 2024 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) GENERAL INFORMATION FINANCIAL RIGHTS PROVIDEDTOTHE MEMBERS OF THE GOVERNING BODY AND SENIOR EXECUTIVES RISKS AND ASSESSMENT OF THE GOVERNING BODY ACTIVITIES AND MAJOR DEVELOPMENTS RELATED TO ACTIVITIES RESEARCH & DEVELOPMENT ACTIVITIES FINANCIAL STATUS FINANCIAL INFORMATION