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

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Current accounts related to equity investments

The adoption of SIIC status in 2008 resulted in the immediate taxation of unrealised capital gains on properties and investments in property companies at the reduced rate of 16.5% payable over four years. As such, no tax liability was recorded following the allocation of prior losses. Fixed assets The Company applies CRC Regulations 2002-10 of 12 December 2002 and 2004-06 of 23 November 2006 on defining, recognising, measuring, depreciating, amortising and impairing assets. 3.1 Equity investments The equity investments are recognised in the statement of financial position at cost in accordance with CRC Regulation No. 2004-06 on defining, recognising and measuring assets. Pursuant to the option provided by Article 321.10 the PCG (French GAAP), the Company has opted for acquisition costs to be included in the value of securities. These acquisition costs are subject to an exceptional depreciation over a period of five years. The majority of the equity investments held by M.R.M. are property companies owning one or more retail properties. At each reporting date, M.R.M. assesses the value of its equity investments relative to their value in use. The value in use of each subsidiary is determined with reference to the share of the net equity owned, remeasured on the basis of the present value of the property assets it owns, and with reference to its outlook. Real estate assets are appraised by independent appraisers at each closing. If the resulting value in use is under the net carrying amount, an impairment loss is recognised. Equity securities are not tested for impairment when the underlying real estate assets were acquired less than six months before the closing date. 3.2 Other financial assets They correspond to treasury shares held by M.R.M. outside the liquidity contract signed with Invest Securities. The treasury shares acquired within the framework of the liquidity contract are presented as marketable securities. 2. 3. Financial assets

The Company has entered into an agreement on current account advances with its subsidiaries. These advances are classified as assets under “Other receivables”. The current accounts in credit in M.R.M.’s books at the reporting date are classified as liabilities under “Loans and other borrowings”. At each reporting date, where the net equity of subsidiaries owned by the Company is negative, the current accounts are impaired up to the amount of the share of the net equity owned. Current accounts attached to equity interests are not tested for impairment when the underlying real estate assets were acquired less than six months before the closing date. Securities and treasury shares The gross amount represents the acquisition cost excluding ancillary expenses. When the inventory value falls below the gross value, the difference is impaired. The inventory value of treasury shares is based on the average share price over the month preceding the end of the reporting period. The gross amount of other long-term securities and investment securities represents the acquisition cost excluding ancillary expenses. 5. 6. Receivables and payables Receivables and payables are stated at face value. As regards receivables, the risk of non-collection is assessed at each reporting date and an impairment loss recognised where the inventory value falls below the book value. Provisions The provisions are valued in accordance with the provisions of CRC Regulation No. 2000-06. Provisions have in particular been funded for the negative net equity of property holding companies owned, less provisions already recognised on the asset side on current accounts. Concept of current and exceptional income Items stemming from ordinary activities, including those that are exceptional in terms of their frequency or amount, are included in current profit (loss). Only items not relating to the Company’s ordinary activities are recognised as exceptional items. 7. 8.

M.R.M. 2022 UNIVERSAL REGISTRATION DOCUMENT

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