MRM // 2021 Universal Registration Document

1

Information on M.R.M.’s activities

Presentation of the Company

1.4.7 Strategy and outlook

Since the Company’s recapitalisation on 29 May 2013, which enabled it to strengthen its financial position and reduce its debt, M.R.M.’s strategy has been to refocus its activities on retail properties. In early 2019, M.R.M. finalised its exit from the office real estate sector with the disposal of its last office building. Since then, it has been a pure retail property company. With a sound financial structure, M.R.M. also committed to an investment plan in 2016 designed to take advantage of the potential value-enhancement of its retail assets. This includes seven value-enhancement programmes for a total projected investment of €35.5 million. The last programme in this plan was the extension of the Valentin shopping centre in Besançon, which was completed in June 2021. Although all retailers have gradually been able to reopen their doors to the public since 19 May 2021, conditions are still characterised by the potential risk of further developments in the health crisis.

M.R.M.’s priorities for 2022 as a whole are: • analysis and deployment of investment programmes to enhance the value of current portfolio assets; • letting available space; • the deployment of the ESG action plan and the Climate Plan adopted by the Company, with particular attention paid to reducing energy consumption; • dynamic management of the portfolio with analysis of potential acquisitions and disposals. Despite the disposals carried out in 2021, M.R.M. maintains its target of total annualised net rents in excess of €10 million, based on an assumed physical occupancy rate of 95%. This target is based on the current portfolio (excluding acquisitions and disposals). At the same time, in order to prepare the Company’s future, M.R.M. will look into opportunities for the acquisition and disposal of assets while paying special attention to sectorial trends (the desire for proximity and making meaningful purchases, development of digital technology and online sales) that already existed and have accelerated since the beginning of the health crisis.

M.R.M. 2021 UNIVERSAL REGISTRATION DOCUMENT

25