MRM_REGISTRATION_DOCUMENT_2017

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General information on the issuer and its share capital Management report for the year ended 31 December 2017

of the Company, which decided in 2015, to move partially in-house the asset management of its properties in order to strengthen control of its operations and costs, and to optimally enhance the value its retail portfolio. Reporting to the Chief Executive Officer, the Head of Asset Management oversees the management of the retail properties owned by the Group and, as part of preparing the accounting and financial information, is responsible for: • In conjunction with the Chief Financial Officer, drawing up and monitoring cash flow forecasts per asset for end-of- period accounting formalities and the financial reporting to executive management and the Strategic Committee; and • Providing all information necessary for appraisers in charge of half-yearly valuation estimates of the Company’s property assets. The property managers The property managers manage the receipts and expenditures relating to the properties, in accordance with the accounting regulations in force in France. They are responsible for the electronic recording of payments, payment reminders, settlements, disputes and their results, so that the Head of Asset Management can have access to clear and up-to- date information. Property managers are also responsible for property and facilities management of the Company’s buildings. In particular, they draw up budgets for operating charges and works and rebill these to tenants. The agreements between the property managers and the Group subsidiaries provide for and organise the information and reporting obligations to which the property managers must adhere in performing their duties. Whenever necessary, the property managers provide the Head of Asset Management with the information required to prepare tax and social security returns. Every month, the information required to ensure that the accounting records are properly maintained is sent to the Financial Management as soon as possible. This information is reviewed by Financial Management, which may approach the property managers directly for further details or clarifications. The Audit Committee The Audit Committee monitors the processes used to prepare the corporate and consolidated financial statements and assesses the validity of the methods selected to process significant transactions. It reports to the Board of directors. This work is performed in conjunction with the work of the Statutory Auditors. It focuses primarily on the methods used to establish and examine the financial statements.

The Chief Financial Officer Among other things the Chief Financial Officer is responsible for: • Gathering operational, financial and accounting information to prepare the activity reports and annual, interim, quarterly and monthly regulatory information, if necessary; • Coordinating and supervising the work of the different parties involved (e.g. property managers, chartered accountants, lawyers, consultants) with a view to establishing said reports; • Supervising the preparation of the corporate and consolidated financial statements, within the given deadlines, in accordance with the laws and accounting standards in force, in particular with IFRS; • Ensuring that the Company’s financial and accounting information is comprehensive and consistent; • Establishing and monitoring the Group’s bank financing; • Communicating with investors and financial markets (e.g. press releases, results presentations, website content and layout). Concerning the administrative and financial management of the Company and the entities it owns, the Chief Financial Officer is responsible for: • Managing the cash and banking transactions of these entities; • Supervising the preparation of all tax and social security returns and legal disclosures of the Company and its subsidiaries; • Managing the administration of the entities and coordinating the work of various external consultants and auditors; • Conducting internal control assessments of the Company and its subsidiaries; • Informing the Audit Committee of the results of these internal control assessments; • And, more generally, managing the relationship with third parties involved in the areas for which the Chief Financial Officer is responsible. In 2015 the Finance Department hired a financial controller to strengthen the Group’s management procedures, monitor property managers’ asset management reports, monitor investment budgets, and measure the Group’s real estate and financial performance. The Head of Asset Management In 2015, the Company recruited a Head of Asset Management. The creation of this position is part of the new organisation

M.R.M. 2017 REGISTRATION DOCUMENT

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