MRM - 2018 Registration document

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Information on M.R.M.’s activities

Group organisation

Group organisation

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Since M.R.M.’s recapitalisation on 29 May 2013, SCOR SE has held 59.9% of its share capital. The SCOR group is the fifth largest reinsurer in the world with over 4,000 clients. It issued more than €15.3 billion in gross premiums in 2018 and employs 2,887 people worldwide with 65 different nationalities represented in 30 countries. The SCOR Group runs two business lines in reinsurance and an asset management business: • SCOR Global P&C (property & casualty) has reinsurance operations in Property and Casualty, Specialty, Business Solutions (discretionary), Joint-Ventures, and Partnerships; • SCOR Global Life (life reinsurance) has life reinsurance operations; • SCOR Investment Partners SE is an asset management company wholly owned by SCOR SE. It has been fully operational since 2009 and is regulated by the AMF. The SCOR Group is organised around four principle hubs located in Paris/London and Zurich/Cologne for Europe, Singapore for Asia and New York/Charlotte/Kansas City for the Americas. As M.R.M.’s majority shareholder and by virtue of it having a seat on its Board of directors and Strategic Committee (see Section 1.3 “Composition of the Board of directors” of the corporate governance report in Section 4.1 of this Registration Document), SCOR SE intends to support the Company’s new positioning as a real-estate investment company focused exclusively on the holding and management of a retail asset portfolio.

In addition to the dividends M.R.M. may pay out to SCOR SE in its capacity as a shareholder, the financial flows between the two parties are restricted to (i) rents and service charges paid to SCOR SE under the lease for office premises at avenue Kléber in Paris for €50,000 annually including expenses but excluding tax, and (ii) amounts paid to SCOR SE under the loan granted to an M.R.M. subsidiary (see Section 1.18 “Agreements referred to in Articles L.225-38 and L.225-40-1 of the French Commercial Code” of the corporate governance report in Section 4.1 of this Registration Document). For more information on SCOR SE, see www.scor.com. M.R.M.’s management team (Executive management and Financial Management) has been in-house since 1 August 2013. In 2015, in order to strengthen the control of its operations and costs and to optimise asset value-enhancement, M.R.M. set up a new organisation for managing its shopping centre assets by partially bringing asset management back in house. To this end, M.R.M. recruited a Head of Asset management in August 2015. In 2017, the property asset management consultancy agreement binding M.R.M. and some of its subsidiaries to CBRE Global Investors ended. For the rental management (collection and recovery of rental payments) and technical management of its properties, the Group uses experienced property management companies with skills acknowledged on the market.

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M.R.M. 2018 REGISTRATION DOCUMENT