MRM // 2022 Universal Registration Document

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General information on the issuer and its share capital

Consolidated financial statements for the financial year ended 31 December 2022

The pro forma consolidated income statement, if the acquisition had taken place on 1 January 2022, would look like this:

31/12/2022 Pro forma

(in thousands of euros)

Gross rental income

15,475 -2,333 13,142 -2,515

External property expenses not recovered

NET RENTAL INCOME

Operating expenses

Reversals of provisions and impairment

2,515

Depreciation and amortisation expenses, impairment and provisions

-2,204

Other operating income Other operating expenses

132

-1,306

OPERATING INCOME BEFORE DISPOSALS AND CHANGE IN FAIR VALUE OF PROPERTIES

9,764

Change in fair value of properties

-8,798

OPERATING INCOME Gross borrowing cost

966

-2,557

Change in fair value of financial instruments and marketable securities

1,626

Discounting of payables and receivables

-163

NET FINANCIAL INCOME (EXPENSE)

-1,094

PROFIT (LOSS) BEFORE TAX

-128

Income tax expense

-

PROFIT (LOSS) FOR THE PERIOD

-128

For more information on the principles used to prepare this pro forma consolidated income statement and its explanatory notes, see Section 3.9 “Pro forma financial information” of the 2022 Universal Registration Document.

4.2 Intangible assets

Accounting principles

In accordance with IAS 38, intangible assets are measured at historical cost less cumulative depreciation and impairment. They are not subject to any revaluation. Intangible assets that have indefinite useful lives are not amortised. They are tested for impairment annually or more frequently if there are indications of impairment. If the value in use is lower than the net carrying amount, an impairment charge is recognised.

Intangible assets with definite useful lives are amortised on a straight-line basis over their estimated useful lives.

4.3 Rights of use

Accounting principles

From 1 January 2019, Group leases are recognised according to IFRS 16 – Leases, under which a right-of-use asset and a lease liability are recorded in the balance sheet. In the income statement, rental expenses are replaced by a depreciation expense of the right-of-use asset recorded under “Provisions and impairment” and by interest expenses recorded under “Gross borrowing cost”.

M.R.M. 2022 UNIVERSAL REGISTRATION DOCUMENT

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