MRM - 2019 Universal Registration Document

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Corporate governance

Corporate governance report

1.11 The Audit Committee’s work in 2019 The Audit Committee met six times during the 2019 financial year and its meetings, lasting two to three hours, mainly covered: • monitoring the financial commitments of the Company and its subsidiaries; • meeting with the Statutory Auditors and the Finance Department regarding the preparation of the interim consolidated financial statements; • meeting with the Statutory Auditors and the Finance Department regarding the preparation of the annual corporate and consolidated financial statements and in particular a presentation by the Statutory Auditors highlighting the essential points of the results of the statutory audit and of the accounting methods chosen;

• meeting with the Statutory Auditors and the Finance Department regarding the internal control procedures and in particular a presentation by the Statutory Auditors on the results of their “interim” duties; • meeting with the independent appraisers for the Group’s twice-yearly appraisal valuation of properties; • reviewing the annual budget and monitoring the Group’s 12-month cash flow forecast; • reviewing the new regulatory requirements for the Universal Registration Document.

In 2019, the average attendance rate of the Audit Committee’s members was 100%. The following table shows the attendance of each member of the Audit Committee during the past year:

Members of the Audit Committee

Attendance rate

Brigitte Gauthier-Darcet

6 meetings out of 6 (100%) 6 meetings out of 6 (100%) 5 meetings out of 5 (100%)

Gilles Castiel

Valérie Ohannessian (1)

OVERALL RATE

100%

(1) Director coopted on 21 February 2019.

1.12 Composition and duties of the Strategic Committee On 29 May 2013, the Board decided to establish a Strategic Committee with the following duties: • studying strategic issues involving the Group; • supervising the execution of Group strategy by general management; • reviewing any major investment, acquisition or disposal plans; • supervising the drafting of a business plan and monitoring its implementation;

• examining the financing policy of the Company and its subsidiaries (including any plans to change, repay early, renegotiate or refinance the existing debt). The Strategic Committee gives opinions and recommendations to the Board on matters within its competence. The following directors make up the Strategic Committee: • François de Varenne, Chairman of the Board of directors, Chairman of the Strategic Committee; • Jacques Blanchard, Chief Executive Officer of the Company and director; • Gilles Castiel, director.

M.R.M. 2019 UNIVERSAL REGISTRATION DOCUMENT

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