MILLI RE 2020 ANNUAL REPORT

Millî Reasürans Türk Anonim Şirketi (Currency: Turkish Lira (TL)) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2020 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) 6 Tangible assets Movement in tangible assets in the period from January 1 to December 31, 2020 is presented below: January 1, 2020 Addition Foreign currency translation effect (*) Disposals Transfers Valuation differences December 31, 2020 Cost: Investment properties (Note 7) 482.776.000 - - - - 50.142.500 532.918.500 Buildings for own use 195.012.000 823.740 - (208.000) - 2.798.500 198.426.240 Machinery and equipment 91.841.231 4.842.705 - (4.534.617) - - 92.149.319 Furniture and fixtures 22.434.892 4.744.853 333.799 (296.070) - - 27.217.474 Land Vehiclesss 6.919.173 974.897 202.973 (1.064.007) - 7.033.036 Other tangible assets (including leasehold improvements) 28.826.269 1.627.487 - (1.837) - - 30.451.919 Leased tangible assets 3.858.074 - - - - - 3.858.074 Operating Lease Buildings 61.499.995 4.342.511 692.803 - - - 66.535.309 893.167.634 17.356.193 1.229.575 (6.104.531) - 52.941.000 958.589.871 Accumulated depreciation: Buildings for own use 726.874 881.207 - (13.915) - (309.520) 1.284.646 Machinery and equipment 59.615.955 12.669.645 - (4.506.356) - - 67.779.244 Furniture and fixtures 17.763.834 1.781.762 324.416 (293.185) - - 19.576.827 Land Vehiclesss 2.165.780 1.391.360 164.772 (868.940) - - 2.852.972 Other tangible assets (including leasehold improvements) 22.399.857 1.744.078 - (1.837) - - 24.142.098 Leased tangible assets 3.858.074 - - - - - 3.858.074 Operating Lease Buildings 7.266.342 7.935.326 441.229 - - - 15.642.897 113.796.716 26.403.378 930.417 (5.684.233) - (309.520) 135.136.758 Net book value 779.370.918 823.453.113 (*) Foreign currency translation effect resulted from Singapore Branch. Financial Status 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 Milli Re Annual Report 2020 217