| Contents | 3 |
| 1. INFORMATION ON M.R.M.’S ACTIVITIES | 5 |
| 1.1 General presentation of the Company | 5 |
| 1.2 Key fi gures | 5 |
| 1.2.1 The Group’s asset profi le | 5 |
| 1.2.2 Financial data | 8 |
| 1.3 Company history | 12 |
| 1.4 Presentation of the Company | 14 |
| 1.4.1 General presentation of the activity | 14 |
| 1.4.2 The real estate market in 2018 and the retail segment | 15 |
| 1.4.3 The Group’s analysis of market trends | 21 |
| 1.4.4 M.R.M.’s asset portfolio as of 31 December 2018 | 22 |
| 1.4.5 Subsequent events and ongoing projects | 25 |
| 1.4.6 Main investments carried out by the Company in the last three years | 26 |
| 1.4.7 Strategy and outlook | 26 |
| 1.5 Group ownership structure | 27 |
| 1.6 Group organisation | 28 |
| 1.7 Human resources | 29 |
| 1.8 Research and development | 29 |
| 1.9 Environmental policy | 29 |
| 1.10 Signifi cant changes in the fi nancial or commercial position | 29 |
| 2. RISK FACTORS | 31 |
| 2.1 Legal risks | 31 |
| 2.2 Risks related to the business environment | 32 |
| 2.3 Market risks – Financial risks | 37 |
| 2.4 Insurance | 38 |
| GENERAL INFORMATION ON THE ISSUER AND ITS CAPITAL | 39 |
| 3.1 General information | 39 |
| 3.1.1 Company name | 39 |
| 3.1.2 Company registration place and number | 39 |
| 3.1.3 Registered offi ce, legal status and laws governing the Company’s business | 39 |
| 3.1.4 Consultation of legal documents | 39 |
| 3.1.5 Lifetime of the Company | 39 |
| 3.1.6 Financial period of the Company | 39 |
| 3.1.7 Corporate purpose | 39 |
| 3.1.8 Appropriation of earnings according to the Articles of Association | 40 |
| 3.1.9 Management and administration | 40 |
| 3.1.10 General Meetings | 40 |
| 3.1.11 Shareholders’rights | 41 |
| 3.2 Information about the share capital | 41 |
| 3.2.1 Share capital | 41 |
| 3.2.2 Unissued authorised share capital | 41 |
| 3.2.3 Convertible securities | 42 |
| 3.2.4 Non-equity securities | 42 |
| 3.2.5 Securities giving access to the capital | 42 |
| 3.2.6 Summary of current authorisations | 42 |
| 3.2.7 Treasury shares - Share buyback programme | 42 |
| 3.2.8 Complex securities | 43 |
| 3.2.9 Options or agreements involving the Company’s share capital | 43 |
| 3.2.10 Pledged shares | 43 |
| 3.2.11 Changes in the share capital | 43 |
| 3.2.12 Shareholder structure | 44 |
| 3.3 Share price | 48 |
| 3.4 Employee profit-sharing plan | 49 |
| 3.5 Dividend payout policy | 49 |
| 3.6 Management report for the year ended 31 December 2018 | 49 |
| 3.7 Consolidated fi nancial statements for the financial year ended 31 December 2018 | 68 |
| 3.8 Statutory Auditors’report on the consolidated fi nancial statements for the year ended 31 December 2018 | 102 |
| 3.9 Annual financial statements for the year ended 31 December 2018 | 106 |
| 3.10 Statutory Auditors’report on the financial statements for the year ended 31 December 2018 | 116 |
| 4. CORPORATE GOVERNANCE | 121 |
| 4.1 Corporate governance report | 121 |
| 4.2 Transactions with related parties | 152 |
| 4.2.1 Regulated agreements | 152 |
| 4.2.2 Other agreements with related parties | 152 |
| 4.3 Statutory Auditors’report on regulated agreements and commitments | 153 |
| 4.4 Statutory Auditors | 155 |
| 5. SIGNIFICANT CONTRACTS | 157 |
| 6. INFORMATION ON INVESTMENTS | 158 |
| 7. PERSON RESPONSIBLE FOR THE FINANCIAL INFORMATION | 159 |
| 8. FINANCIAL CALENDAR | 160 |
| 9. DOCUMENTS ACCESSIBLE TO THE PUBLIC | 161 |
| 10. CERTIFICATION BY THE PERSON RESPONSIBLE FOR THE REGISTRATION DOCUMENT | 162 |
| 10.1 Person responsible for the Registration Document | 162 |
| 10.2 Certification by the person responsible for the Registration Document | 162 |
| 11. CROSS-REFERENCE TABLE | 163 |