MRM // 2022 Universal Registration Document

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General information on the issuer and its share capital

Annual financial statements for the financial year ended 31 December 2022

Appendix

The balance sheet for the year ended 31 December 2022, covering a period of twelve months like the previous year, presents a total, before appropriation of income, of €124,585,961 and a loss of €369,547.

Lastly, the two shopping centres have a value-enhancement potential that would give M.R.M. an opportunity to deploy its know-how in asset management (refurbishment, partial redevelopment, dynamic rental management, change in the retailer mix). A financing structure that keeps the Group’s net debt under control The acquisition was carried out through contributions in kind and disposals by Altarea to two M.R.M. subsidiaries. It was remunerated partly in cash for a total amount of €68.9 million and partly by the issue of new M.R.M. shares for a total amount of €21 million, the latter taking the form of an increase in M.R.M.’s share capital reserved for Altarea at an issue price corresponding to its replacement NAV as of 30 June 2022, namely €48.92 per share. The cash payment of €68.9 million resulted from: • a new bank loan of €42 million; • current account advance from SCOR SE in the amount of €25 million; • the Group’s available cash. In a second step, M.R.M. carried out a share capital increase in cash with maintenance of the preferential subscription rights in the amount of €29 million at a unit subscription price equal to the replacement NAV of M.R.M. as of 30 June 2022, namely €48.92 per share: • SCOR SE subscribed for an amount of €25 million by capitalisation of the aforementioned current account advance; • Altarea subscribed by exercising its preferential subscription rights for an amount of €4 million. In the end, the transaction resulted in two share capital increases of M.R.M. for a total amount of €50 million subscribed for €25 million by SCOR SE and €25 million by Altarea. This financing structure enables the Group to maintain a net LTV ratio of less than 45%: 43.6% as of 31 December 2022 compared to 40.0% a year earlier. Strengthening M.R.M.’s shareholding structure and governance Following the issue of new shares related to the two share capital increases carried out as part of the Acquisition Transaction, SCOR SE and Altarea now hold respective stakes of 56.63% and 15.94%.

Highlights of the year (French commercial code – Article R.123-196-3)

Acquisition of two shopping centres from Altarea: a transformative transaction Pursuing its strategy of diversification and development of its assets, on 28 July 2022, M.R.M. signed a memorandum of understanding with Altarea, SCOR SE, Retail Flins, Retail Ollioules, Foncière Altarea, Alta Ollioules 1 and Alta Ollioules 2, relating to the acquisition from Altarea of two shopping centres, through disposals and contributions in kind, for a total amount of €90.4 million (including transfer taxes). On 7 December 2022, M.R.M. announced the completion of this acquisition and its financing. This transaction resulted in an increase of more than 50% in the value of the Group’s portfolio. Located in Flins-sur Seine (Yvelines) and Ollioules (Var), these two assets – both adjacent to Carrefour hypermarkets – are reference centres in their catchment areas. These are high-performance assets, combining yield and value-enhancement potential. A significant increase in the M.R.M. portfolio The acquisition of the Flins regional shopping centre and the Carrefour Ollioules shopping centre for a total amount of €90.4 million (including transfer taxes) enabled the Group to expand. While extending the Group’s geographical presence in two dynamic regions, this transaction significantly increases the size of its portfolio, which increased from €162.0 million as of 31 December 2021 to €244.9 million as of 31 December 2022, an increase of 51%. This entry into the portfolio resulted in a sharp increase in the Group’s net annualised rents, which rose from €9.3 million on 1 January 2022 to €15.1 million on 1 January 2023, thus raising the Group’s net annualised rents target from €10 million to €16 million. M.R.M. also anticipates a positive impact of the increase in its rental income on the Group’s net operating cash flow and aims, in the medium term, to increase its level of profitability through better absorption of its fixed costs.

M.R.M. 2022 UNIVERSAL REGISTRATION DOCUMENT

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