MRM_REGISTRATION_DOCUMENT_2017

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Information on M.R.M.’s activities

Group organisation

Group organisation

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Since M.R.M.’s recapitalisation on 29 May 2013, SCOR SE has held 59.9% of its share capital. The SCOR group is the fourth largest reinsurer in the world with over 4,000 clients. It issued more than €14.8 billion in gross premiums in 2017 and employs 2,801 people worldwide with 64 different nationalities represented in 29 countries. The SCOR group runs two business lines in reinsurance and an asset management business: • SCOR Global P&C (property & casualty) has reinsurance operations in Property and Casualty, Specialty, Business Solutions (discretionary), Joint-Ventures, and Partnerships; • SCOR Global Life (life reinsurance) has life reinsurance operations; • SCOR Investment Partners SE is an asset management company wholly owned by SCOR SE. It has been fully operational since 2009 and is regulated by the AMF. The SCOR group is organised around four major hubs located in Paris/London and Zurich/Cologne for Europe, Singapore for Asia and New York/Charlotte/Kansas City for the Americas Hub. As M.R.M.’s majority shareholder and by virtue of sitting on its Board of directors and Strategic Committee (see paragraph 1.3 “Composition of the Board of directors” of the corporate governance report in section 4.1 of this Registration Document), SCOR SE intends to support the Company’s new strategy of refocusing on its retail portfolio.

In addition to the dividends M.R.M. may pay out to SCOR SE in its capacity as a shareholder, the financial flows between the two parties are restricted to (i) rents and service charges paid to SCOR SE under the lease for office premises at avenue Kléber in Paris for €54 thousand annually including expenses but excluding tax, and (ii) amounts paid to SCOR SE under the loan granted to an M.R.M. subsidiary (see paragraph 1.18 “Agreements referred to in Articles L.225-38 and L.225-40-1 of the French Commercial Code” of the corporate governance report in section 4.1 of this Registration Document). For more information on SCOR SE, see www.scor.com. M.R.M.’s management team (Executive management and Financial Management) has been in-house since 1 August 2013. In 2015, in order to strengthen control of its operations and costs, and to optimally assess its retail portfolio on which the Group is currently refocusing, M.R.M. implemented a new way to organise the asset management of its shopping centres by managing said assets in-house. To this end, M.R.M. recruited a Head of Asset management in August 2015. In 2017, the property asset management consultancy agreement binding M.R.M. and some of its subsidiaries to CBRE Global Investors ended. The contractual links between CBRE Global Investors and M.R.M. group are outlined in section 5 «Significant contracts» of this Registration Document. For the rental management (collection and recovery of rental payments) and technical management of its properties, the Group uses experienced property management companies with skills acknowledged on the market.

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M.R.M. 2017 REGISTRATION DOCUMENT