MRM // 2021 Universal Registration Document

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Risk factors

Main risk factors

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11 CLIMATE CHANGE

Description of the risk and its impacts

Risk mitigation measures

We have observed many climatic variations due to climate change, including increased temperatures and an increase in the number of extreme weather events, including floods, storms, heatwaves and droughts. M.R.M.’s property assets could potentially be exposed to damage caused by the impacts of climate change, such as: • disruptions to shopping centre activities, lower footfall in or temporary closures of shopping centres during heatwaves, storms, floods, etc.; • damage to buildings and higher construction or operating costs; • changes in consumer habits.

Over recent years, M.R.M. has prioritised the integration of environmental, social and governance (“ESG”) criteria into its business activities, both at a corporate level and at the level of its property asset portfolio. An overview of these topics can be found in Sections 4.2 and 4.3 of the management report, which appears in Chapter 3.6 of this Universal Registration Document. In 2020, M.R.M. took a further step by formalising its strategic commitments in terms of corporate social responsibility (CSR), by mapping its climate change risks, and by introducing a coherent operational action plan, in line with the Company’s goal of reducing its carbon footprint. The structural aspects of this strategy can be found in Section 4.1 of the management report, which appears in Chapter 3.6 of this Universal Registration Document. Furthermore, M.R.M. carries out energy and biodiversity audits on its assets and implements procedures to reduce its energy consumption and improve environmental efficiency, and incorporates major environmental risks into its investment and/ or acquisition decisions. Finally, M.R.M. is also insured against extreme weather events.

M.R.M. 2021 UNIVERSAL REGISTRATION DOCUMENT

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