MRM - 2018 Registration document

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General information on the issuer and its capital Management report for the year ended 31 December 2018

1.7.2 Internal control parties

Concerning the administrative and financial management of the Company and the entities it owns, the Chief Financial Officer is responsible for: • managing the cash and banking transactions of these entities; • supervising the preparation of all tax and social security returns and legal disclosures of the Company and its subsidiaries; • managing the administration of the entities and coordinating the work of various external consultants and auditors; • conducting internal control assessments of the Company and its subsidiaries; • informing the Audit Committee of the results of these internal control assessments; • and, more generally, managing the relationship with third parties involved in the areas for which the Chief Financial Officer is responsible. The Finance Department also carries out management controls, notably to reinforce the Group’s management procedures, as well as to monitor the property managers’management reports and investment budgets, and to measure the Group’s property and financial performance. The Head of Asset Management In 2015, the Company recruited a Head of Asset Management. The creation of this position is part of the new organisation of the Company, which decided in 2015, to move partially in-house the asset management of its properties in order to strengthen control of its operations and costs, and to optimally enhance the value its retail portfolio. Reporting to the Chief Executive Officer, the Head of Asset Management oversees the management of the retail properties owned by the Group and, as part of preparing the accounting and financial information, is responsible for: • drawing up, in conjunction with the Chief Financial Officer, cash flow forecasts for each asset and their monitoring for end-of-period accounting formalities as well as the financial reporting to executive management and the Strategic Committee; and • providing all information necessary for the appraisers in charge of the half-yearly valuation estimates of the Company’s property assets.

The Chief Executive Officer The Chief Executive Officer is responsible for the communication and coordination of financial information between the various parties involved in pursuit of the defined strategy. This person ensures the quality of the internal control and risk management systems. The Chief Executive Officer, the Chairman of the Board of directors and the Board of directors oversee the companies in the M.R.M. group in general and make sure that their legal, contractual, financial, fiscal and administrative obligations are fulfilled so that the Company is managed in the best and most efficient way. In the proper execution of his duties the Chief Executive Officer makes sure he is informed by the Chief Financial Officer and the Head of Asset Management about all matters relating to the Group’s buildings, takes any steps necessary to collect such information, approves the decisions taken, and alerts the competent bodies of the potentially unfavourable consequences of decisions left unresolved. The Chief Executive Officer oversees the actions of the Chief Financial Officer and the Head of Asset Management and is responsible for preparing and presenting the general budget and business plan setting out the objectives and strategy for the short and medium term. The Chief Financial Officer Among other things the Chief Financial Officer is responsible for: • gathering operational, financial and accounting information to prepare the activity reports and annual, interim, quarterly and monthly regulatory information, if necessary; • coordinating and supervising the work of the different parties involved (e.g. property managers, chartered accountants, lawyers, consultants) with a view to establishing said reports; • supervising the preparation of the corporate and consolidated financial statements, within the given deadlines, in accordance with the laws and accounting standards in force, in particular with IFRS; • ensuring that the Company’s financial and accounting information is comprehensive and consistent; • establishing and monitoring the Group’s bank financing; • communicating with investors and financial markets (e.g. press releases, results presentations, website content and layout).

M.R.M. 2018 REGISTRATION DOCUMENT

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