MILLIRE ENG2024

Movement in tangible assets in the period from January 1 to December 31, 2023 is presented below: January 1, 2023 Addition Foreign currency translation effect (*) Transfers Valuation differences December 31, 2023 Cost:: Investment properties (Note 7) 1.894.516.000 - - 1.324.750.000 1.671.336.000 4.890.602.000 Buildings for own use 802.940.000 - - (1.324.750.000) 736.914.000 215.104.000 Machinery and equipment 138.654.988 50.146.939 - (10.007) - 188.791.920 Furniture and fixtures 49.504.580 48.476.345 2.630.094 (32.709.616) - 67.901.403 Land vehiclesss 12.062.655 - 1.426.373 - - 13.489.028 Other tangible assets (including leasehold improvements 36.384.889 61.391.526 - - - 97.776.415 Leased tangible assets 108.430.175 80.189.151 8.131.515 (9.311.651) - 187.439.190 Construction in progress (**) 11.444.885 89.568.020 - (81.350.454) - 19.662.451 3.053.938.172 329.771.981 12.187.982 (123.381.728) 2.408.250.000 5.680.766.407 Accumulated depreciation Buildings for own use 19.180 4.111.803 - (3.997.474) - 133.509 Machinery and equipment 91.342.146 20.543.488 - - - 111.885.634 Furniture and fixtures 27.903.639 8.496.326 2.524.234 (3.501.508) - 35.422.691 Land Vehiclesss 6.254.209 2.405.914 935.644 - - 9.595.767 Other tangible assets (including leasehold improvements) 28.658.895 3.885.073 - - - 32.543.968 Leased tangible assets 42.566.625 31.097.223 1.524.410 (9.311.651) - 65.876.606 196.744.694 70.539.827 4.984.288 (16.810.633) - 255.458.176 Net book value 2.857.193.478 5.425.308.231 (*) Foreign currency translation effect resulted from Singapore Branch. (**) There are costs related to heating and cooling group renewal in the account of investments in progress. As of 31 December 2024 and 31 December 2023, the Group’s real estates, some of which are for investment purposes and some for use, are valued at their fair value and are valued in this context. The appraisal reports for these real estates were prepared by the CMB licensed real estate appraisal Company in December 2024 for Anadolu Sigorta and in December 2024 for Milli Reasürans. There is no mortgage on the Group’s real estate for use. Milli Re’s real estate for use was revalued as of December 2024, and the appraisal reports for these real estates were prepared in December 2024 by a real estate appraisal Company licensed by the CMB.As of December 31, 2024, 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, 2024) Net Book Value (December 31, 2023) Suadiye Spor Salonu December 2024 202.000.000 202.000.000 135.000.000 İzmir Regional Headquarter December 2024 62.260.000 62.156.233 39.693.733 Adana Regional Headquarter December 2024 28.325.000 28.277.791 18.748.700 Lefkoşe Cyprus Branch December 2024 20.145.000 20.111.425 17.235.226 Adana Office December 2024 855.000 853.575 623.958 Other December 2024 4.037.500 4.030.770 3.668.875 Total 317.622.500 317.429.794 214.970.492 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. 236 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) Notes to the Consolidated Financial Statements As of December 31, 2024 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish) MİLLİ RE