MRM // 2022 Universal Registration Document

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Information on M.R.M.’s activities

Presentation of the Company

In 2012, five retail properties (in Claye-Souilly, Coignières, Créteil, Montigny-lès-Cormeilles and Pierrelaye), an office property (on rue Niepce in Paris in the 14 th arrondissement ) t and a residential space (in a retail property in Tours) were sold for a total of €22.5 million excluding transfer taxes. Phase 3. Refocusing on retail As part of its strategy of refocusing on retail property, begun in mid-2013 following the entry of SCOR SE into its capital, M.R.M. has sold the following office properties and acquired the following retail assets: In 2013, an office property on rue de la Bourse, Paris (2 nd arrondissement ) was sold for €10.4 million excluding t transfer taxes. In 2014, two office buildings on rue Cadet in Paris (9 th arrondissement ) and Rungis were sold for €22.5 million t excluding transfer taxes. In 2015, an office property on rue de la Brèche-aux-Loups, Paris (12 th arrondissement ) was sold for €16.8 million excluding t transfer taxes. In 2016, three office properties located in Rueil-Malmaison, Les Ulis and Cergy-Pontoise were sold for a total amount of €38.4 million excluding transfer taxes.

In 2017, M.R.M. acquired the full ownership of the Aria Parc retail park in Allonnes, via the purchase of a 1,500 m 2 retail unit for €1.8 million excluding transfer taxes, and sold, for an insignificant amount, a small retail space previously operated by Gamm Vert. In 2018, M.R.M. sold the Nova office property in La Garenne Colombes for the sum of €38.0 million, excluding transfer taxes. In addition, as part of its active retail-portfolio management strategy, M.R.M. has also sold a small retail space previously operated by Gamm Vert for €0.2 million excluding transfer taxes. In January 2019, M.R.M. announced the sale of Urban, an unoccupied 7,970 m 2 office building in Montreuil, for the sum of €6.35 million excluding transfer taxes. This transaction marks the completion of the process to refocus M.R.M.’s asset portfolio on retail properties. It brings the cumulative amount of office properties sold by M.R.M. within the framework of its office asset disposal programme to €132.3 million, 9.8% higher than the appraisal values as of 30 June 2013 after taking CAPEX into account. At the end of 2022, M.R.M. acquired two shopping centres in Flins-sur-Seine and in Ollioules, for a total amount of €90.4 million including transfer taxes. This transformative acquisition enabled M.R.M. to change its scale. While expanding M.R.M.’s geographical presence into two dynamic regions, the Company has seen the size of its portfolio increase by 51% (see Section 1.2 of this Universal Registration Document).

Retail portfolio up by more than 50%

31/12/2022

31/12/2021

Value excluding transfer taxes

€244.9 m

€162.0 m

+51.2% vs 31/12/2021

+0.6% vs 31/12/2020

-0.9% excluding effect of acquisitions

+3.5% excluding effect of disposals

76,414 m 2 100% retail

Total area

89,600 m 2 100% retail

Value breakdown

The Group’s retail properties are located in the Paris region and in large cities in the provinces. Diverse assets types are covered, including shopping centres and malls, high-street retail units, independent suburban retail premises and premises in retail parks. The vast majority of the 232 tenants are national and international retail brands. Together, these retailers account for 80% of gross annualised rents.

As of 31 December 2022, the portfolio was valued at €244.9 million excluding transfer taxes and covered a surface area of 89,600 m 2 compared with €162.0 million and a surface area of 76,414 m 2 a year earlier. This increase follows the acquisition of the two shopping centres in Flins and Ollioules (see Section 1.2 of this Universal Registration Document). Within the scope of M.R.M.’s historical portfolio, 13 leases were signed in 2022, representing an amount of €0.9 million for a total surface area of 4,900 m 2 . The average reversion rate in relation to market rental values was +1%.

M.R.M. 2022 UNIVERSAL REGISTRATION DOCUMENT

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