Milli Re 2025 Annual Report

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, 2025 is presented below: January 1, 2025 Additions Transfers Foreign currency translation effects (*) Disposals December 31, 2025 Cost: Other intangible assets 653.512.652 244.416.120 176.782 (54.810) 73.353.735 971.404.479 Advances given for intangible assets 355.413.876 152.419.421 - - (73.353.735) 434.479.562 Goodwill 16.250.000 - - - - 16.250.000 Research & Development 18.657.453 65.630.889 (16.810) - - 84.271.532 1.043.833.981 462.466.430 159.972 (54.810) - 1.506.405.573 Accumulated amortization: Rights 475.614.418 111.318.943 166.326 (54.810) - 587.044.877 475.614.418 111.318.943 166.326 (54.810) - 587.044.877 Net book value 568.219.563 919.360.696 (*) Foreign currency translation effect resulted from Singapore Branch. (**) TFRS 17/TFRS 9 has been given with reference to licensing-consultation and computer software. Movement in intangible assets in the period from January 1 to December 31, 2024 is presented below: January 1, 2024 Additions Transfers Foreign currency translation effects (*) Disposals December 31, 2024 Cost: Rights 526.278.411 115.191.555 231.183 (48.064.224) 59.875.727 653.512.652 Advances given for intangible assets 264.168.937 91.244.939 - - - 355.413.876 Goodwill 16.250.000 - - - - 16.250.000 Research & Development 18.657.453 59.875.727 - - (59.875.727) 18.657.453 825.354.801 266.312.221 231.183 (48.064.224) - 1.043.833.981 Accumulated amortization: Rights 433.942.972 89.538.361 197.309 (48.064.224) - 475.614.418 433.942.972 89.538.361 197.309 (48.064.224) - 475.614.418 Net book value 391.411.829 568.219.563 (*) Foreign currency translation effect resulted from Singapore Branch. (**) TFRS 17/TFRS 9 has been given with reference to licensing-consultation and computer software. 280 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)