MILLI_RE_ANNUAL REPORT 2022

As of December 31, 2022, inflation adjusted cost and fair value amounts of the Company’s investment properties are amounting to TL 1.650.131.000 (December 31, 2021: TL 549.896.000). The expertise (excluding VAT) and net book values of investment properties are as follows per real estate. Expertise reports regarding these properties are prepared by independent professional valuation specialists authorized by CMB in December 2022. There is no mortgage on the real estates. As of December 31, 2022, and 2021, details of investment properties and the fair values are as follows: December 31, 2022 Net book value December 31, 2021 Net book value Date of expertise report Value of expertise report Çifteler Land 6.000 6.000 December 2022 6.000 Villa Office Block 174.000.000 52.850.000 December 2022 174.000.000 Suadiye Fitness Center 76.150.000 48.770.000 December 2022 76.150.000 Tunaman Garage 528.325.000 182.925.000 December 2022 528.325.000 Operating Center Rental Offices 871.650.000 265.345.000 December 2022 871.650.000 Carrying amounts 1.650.131.000 549.896.000 1.650.131.000 Fair value measurement The fair values of investment properties were determined by market comparison technique. The fair value measurement of owner occupied land and buildings is classified as level 2. 8 Intangible assets Movement in intangible assets in the period from January 1 to December 31, 2022 is presented below: January 1, 2022 Additions Foreign currency translation effects (*) Disposal Transfers December 31, 2022 Cost: Rights 49.916.464 6.041.429 144.997 - - 56.102.890 Advances on intangible fixed assets (**) 12.469.277 3.639.805 - - - 16.109.082 62.385.741 9.681.234 144.997 - - 72.211.972 Accumulated amortization: Rights 31.644.076 15.595.696 105.749 - - 47.345.521 31.644.076 15.595.696 105.749 - - 47.345.521 Carrying amounts 30.741.665 24.866.451 (*) Foreign currency translation effect resulted from Singapore Branch. (**) Given referring to IFRS 17 consultation. 147 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 RISKS AND ASSESSMENT OF THE GOVERNING BODY UNCONSOLIDATED FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITORS’ REPORT THEREON CONSOLIDATED FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITORS’ REPORT THEREON FINANCIAL STATUS