Milli Re 2025 Annual Report

Movement in tangible assets in the period from January 1 to December 31, 2024 is presented below: January 1, 2024 Addition Foreign currency translation effect (*) Transfers Valuation differences December 31, 2024 Cost/Fair Value: Investment properties (Note 7) 4.890.602.000 - - (1.578.400.000) 2.024.319.000 5.336.521.000 Buildings for own use 215.104.000 - - - 102.518.500 317.622.500 Machinery and equipment 188.791.920 92.143.408 - - - 280.935.328 Furniture and fixtures 67.901.403 18.023.270 1.428.004 (2.451.215) - 84.901.462 Land Vehicles 13.489.028 27.760.268 775.893 (5.562.387) - 36.462.802 Other tangible assets (including leasehold improvements) 97.776.415 8.428.485 - - - 106.204.900 Leased Assets 187.439.190 135.956.731 4.692.563 - - 328.088.484 Construction in progress (**) 19.662.451 23.193.260 - - - 42.855.711 5.680.766.407 305.505.422 6.896.460 (1.586.413.602) 2.126.837.500 6.533.592.187 Accumulated depreciation:: Buildings for own use 133.509 1.670.933 - (1.611.736) - 192.706 Machinery and equipment 111.885.634 35.347.541 - - - 147.233.175 Furniture and fixtures 35.422.691 10.428.309 1.394.070 (2.446.989) - 44.798.081 Land Vehicles 9.595.767 2.872.111 659.237 (5.093.826) - 8.033.289 Other tangible assets (including leasehold improvements) 32.543.968 14.297.005 - - - 46.840.973 Financial Leased Assets 65.876.606 59.322.793 2.224.381 - - 127.423.780 255.458.175 123.938.692 4.277.688 (9.152.551) - 374.522.004 Net book value 5.425.308.232 6.159.070.183 (*) Foreign currency translation effect resulted from Singapore Branch (**) The ongoing investments account includes costs related to the heating and cooling group and the renovation of the real estate. As of December 31, 2025 and December 31, 2024, 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 2025 for Anadolu Sigorta and in December 2025 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 2025, and the appraisal reports for these real estates were prepared in December 2025 by a real estate appraisal Company licensed by the CMB. 278 MİLLÎ REASÜRANS 2025 Annual Report Notes to the Consolidated Financial Statements As of December 31, 2025 Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TRY)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish)