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) 8 Intangible Assets Movement in intangible assets in the period from January 1 to December 31, 2020 is presented below: January 1, 2020 Additions Transfers Foreign currency translation effects (*) Disposals December 31, 2020 Cost: Other intangible assets 227.639.545 7.644.681 866.720 (4.460.001) 93.651.275 325.342.220 Goodwill 42.185.072 60.587.512 - - (93.651.275) 9.121.309 Advances given for intangible assets 16.250.000 - - - - 16.250.000 286.074.617 68.232.193 866.720 (4.460.001) - 350.713.529 Accumulated amortization: Other intangible assets 145.530.086 51.552.459 866.783 (4.460.001) - 193.489.327 145.530.086 51.552.459 866.783 (4.460.001) - 193.489.327 Net book value 140.544.531 157.224.202 (*) Foreign currency translation effect resulted from Singapore Branch. Movement in intangible assets in the period from January 1 to December 31, 2019 is presented below: January 1, 2019 Additions Transfers Foreign currency translation effects (*) Disposals December 31, 2019 Cost: Other intangible assets 150.150.335 5.902.730 71.166.182 420.298 - 227.639.545 Goodwill 16.250.000 - - - 16.250.000 Advances given for intangible assets 58.674.584 54.676.670 (71.166.182) - - 42.185.072 225.074.919 60.579.400 420.298 - 286.074.617 Accumulated amortization: Other intangible assets 119.916.179 25.193.983 419.924 - 145.530.086 119.916.179 25.193.983 419.924 - 145.530.086 Net book value 105.158.740 140.544.531 (*) Foreign currency translation effect resulted from Singapore Branch. 9 Investments in associates December 31, 2020 December 31, 2019 Book value Participation rate % Book value Participation rate % Anadolu Hayat Emeklilik A.Ş. 336.397.607 21,00 270.036.755 21,00 Affiliates, net 336.397.607 270.036.755 Miltaş Turizm Inşaat Ticaret Anonim Şirketi 3.796.088 77,00 3.742.259 77,00 Subsidiaries, net 3.796.088 3.742.259 Total financial asset 340.193.695 273.779.014 Activities and Major Developments Related to Activities General Information Financial Rights Provided to the Members of the Governing Body and Senior Executives Research & Development Activities Milli Re Annual Report 2020 220