MRM // 2021 Universal Registration Document

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General information on the issuer and its share capital Management report for the nancial year ended 31 December 2021

Standards, amendments and interpretations for application published by the IASB but not adopted by the European Union as of 1 January 2021 Subject to their final approval by the European Union, the standards, amendments to standards and interpretations published by the IASB and presented below are applicable according to the IASB as of the following dates: • amendments to IAS 1 - “Disclosures on accounting principles and policies”; • amendment to IAS 1 - “Classifcation of liabilities as current or non-current liabilities”; • IFRS 17 - “Insurance contracts”; • amendments to IAS 12 - “Deferred tax relating to assets and liabilities arising from the same transaction”; • amendments to IAS 8 - “Defnition of an Accounting Estimate”. The Group did not opt for the early adoption of these amendments, which will have no material impact on its results and financial position. 2.2.1 Changes in scope In 2021, a newly created company entered the scope of consolidation of the M.R.M. group. 2.2.2 Consolidated income statement Consolidated gross rental income from buildings was €9,745 thousand and reflected the rents generated by the Group’s portfolio. It was up by 2.5% compared to 2020. Unrecovered property expenses were down 3.0% compared with 2020 and amounted to €(1,789) thousand, resulting in net rental income of €7,956 thousand, up 3.9%. Net operating expenses amounted to €(3,483) thousand in 2021, including €(651) thousand in tenant support measures provisioned for the second lockdown period in 2020 and the lockdown period observed in 2021. This item was down by 8.9% compared to 2020. It breaks down as follows: • operating costs of €(2,468) thousand (compared with €(2,262) thousand in 2020); • net reversals of provisions for €(909) thousand (compared with a net provision of €(609) thousand in 2020); • and other net operating expenses for €106 thousand (compared to €2,169 thousand in 2020). Operating income before disposals and change in fair value of properties amounted to €4,473 thousand compared with €3,836 thousand in 2020.

After taking into account the income from disposal of properties of €475 thousand and the positive change in the fair value of properties for €2,643 thousand, operating income was a proft of €7,591 thousand. As a reminder, in 2020, there was a loss of €5,786 thousand. Net fnancial income amounted to €(1,988) thousand in 2021 and breaks down as follows: • net borrowing cost of €(1,205) thousand made up of interest and similar expenses; • decrease in the fair value of fnancial instruments for €(49) thousand; • discounting of payables and receivables for €(367) thousand; • other fnancial expenses related to the repayment of bank debt as part of its refnancing for €(367) thousand. In view of the above, net income after tax was a proft of €5,603 thousand in 2021, compared to a loss of €7,173 thousand in 2020. 2.2.3 Consolidated balance sheet As of 31 December 2021, non-current assets stood at €162,050 thousand, compared with €161,047 thousand as of 31 December 2020, and consisted mostly of investment properties in the amount of €161,985 thousand and right-of use assets in the amount of €63 thousand. As of 31 December 2021, current assets stood at €17,340 thousand compared with €18,332 thousand as of 31 December 2020. They mainly consisted of: • trade receivables of €4,248 thousand; • other receivables of €3,331 thousand (e.g. rental charge invoices, tax claims); and • cash and cash equivalents of €9,699 thousand. On the liabilities side, consolidated equity, after taking into account the net proft for the fnancial year of €5,603 thousand and the distribution to shareholders of €(2,181) thousand paid in 2021 in respect of the 2020 fnancial year, amounted to €97,365 thousand at the end of the fnancial year. As of 31 December 2020, this item totalled € 93,888 thousand. As of 31 December 2021, non-current liabilities payable at over one year totalled €75,505 thousand compared with €75,630 thousand as of 31 December 2020. These mainly comprised bank debt of €74,444 thousand and tenants’ security deposits of €1,029 thousand.

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M.R.M. 2021 UNIVERSAL REGISTRATION DOCUMENT