MRM - 2019 Universal Registration Document

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General information on the issuer and its share capital

Consolidated financial statements for the financial year ended 31 December 2019

1.3. Subsequent events Following Conforama’s decision to wind up the Maison Dépôt business due to the group’s financial difficulties, the lease covering an area of 3,300 m² in the Aria Parc retail park in Allonnes was subject to an early amicable cancellation in January 2020. M.R.M. received a cancellation penalty to redress the harm caused.

Simplification of the Group ownership structure In 2019, Noratlas, a non-trading property company ( société civile immobilière ), sold the last of its buildings, Urban, after which it underwent dissolution without liquidation through the universal transfer of its assets to M.R.M., thus simplifying the Group’s ownership structure and narrowing its scope of consolidation, which now comprises six instead of seven entities.

Note 2 Accounting principles

The main accounting methods applied in preparing the consolidated financial statements are presented below. Unless stated otherwise, these methods have been applied consistently across all periods presented.

2.1 Going concern principle The financial statements as of 31 December 2019 were prepared on the basis of the going concern principle, taking into account the operations carried out during the year and described in Section 1.2 “Highlights of the period”. financial statements in accordance with IFRS Pursuant to Regulation (EC) No. 1606/2002 of 19 July 2002, the M.R.M. group’s consolidated financial statements as of 31 December 2019 were prepared in accordance with the standards and interpretations applicable at that date as published by the International Accounting Standards Board (IASB) and adopted by the European Union at the date the financial statements were approved by the Board of directors. These accounting rules, which can be accessed via the European Commission’s website (https://ec.europa.eu/info/ business-economy-euro/company-reporting-and- auditing/ company-reporting/financial-reporting_en), are the international accounting standards (IAS) and international financial reporting standards (IFRS) and the interpretations by the Standing Interpretations Committee (SIC) and the International Financial Reporting Interpretations Committee (IFRIC). The Group’s consolidated financial statements were prepared on the basis of the historical cost principle except for investment properties, financial instruments and assets held for sale which are measured at fair value as per IAS 40, IAS 32 and 39 and IFRS 5. Preparing the financial statements in accordance with IFRS requires certain critical accounting estimates to be made. 2.2 Presentation of the consolidated

The Group is also required to exercise its judgement when applying accounting methods. The most critical areas in terms of judgement or complexity, or those for which the assumptions and estimates are material with respect to the consolidated financial statements, are set out in Note 4.5 on the fair value of investment properties. On 27 February 2020, the Board of directors authorised the publication of the Group’s consolidated financial statements as of 31 December 2019. The standards, amendments to standards and interpretations published by IASB and presented below are applicable for financial years beginning as of 1 January 2019: • IFRS 16 - Leases; • IFRIC 23 - Uncertainty over Income Tax Treatments; • amendments to IFRS 9 - Prepayment Features with Negative Compensation; • amendments to IAS 28 - Long-term Interests in Associates and Joint Ventures; • amendments to IAS 19 - Plan Amendment, Curtailment or Settlement; • annual improvements to IFRS - 2015-2017 cycle. These amendments did not have a material impact on the Group’s results and financial position. Standards, amendments and interpretations applicable as of 1 January 2019

M.R.M. 2019 UNIVERSAL REGISTRATION DOCUMENT

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