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

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Presentation of the financial statements – Earnings for the past year

2.1 Company financial statements The annual financial statements for the year ended 31 December 2017, which we submit to you for approval (provided in appendix 5 of this report), were drawn up according to the format and using the valuation methods prescribed by the rules and regulations in force. Presentation and valuation rules used were the same as for the previous financial year. M.R.M.’s business over the period was that of a holding company. Its 2017 earnings reflect: • Revenue of €252 thousand (compared with €206 thousand in 2016); • Other purchases and external expenses of €(684) thousand (compared with €(696) thousand in 2016); • Taxes of €(116) thousand (compared with €(88) thousand in 2016); • Payroll expenses of €(1,037) thousand (compared with €(861) thousand in 2016); • Provisions on current accounts of €(6,150) thousand, granted to the subsidiaries Noratlas and DB Neptune; • Other expenses of €(62) thousand; • Financial income of €1,212 thousand, of which €1,204 thousand from equity investments (revenue from current accounts); • Financial expense of €(24) thousand in interest and similar expenses. Net financial income totalled €1,188 thousand compared with €5,985 thousand as of 31 December 2016. Net income amounted to a loss of €6,587 thousand compared with a profit of €415 thousand as of 31 December 2016. At year-end total assets stood at €98,603 thousand mostly made up of equity securities from directly or indirectly wholly- owned subsidiaries, of current accounts between the Company and its subsidiaries, and of the Company’s cash assets. A table showing the Company’s results for the last five years is appended to this report in appendix 1 in accordance with Article R.225-102 of the French Commercial Code.

2.2 Consolidated financial statements Pursuant to Regulation (EC) 1606/2002 of 19 July 2002, M.R.M. group’s consolidated financial statements as of 31 December 2017 were prepared in accordance with the standards and interpretations applicable on that date published by the International Accounting Standards Board (IASB), adopted by the European Union and in force at the date of issue of the financial statements by the Board of directors. Texts adopted by the European Union as of 31 December 2017 Standards, amendments to standards and interpretations published by the IASB and presented below are applicable for the financial year beginning 1 January 2017: • Amendments to IAS 7 – Disclosure Initiative applicable as of 1 January 2017; • Amendments to IAS 12 – Recognition of Deferred Tax Assets for Unrealised Losses applicable as of 1 January 2017; • Annual improvements to IFRS – Cycle 2014-2016 – IFRS 12. These amendments did not have a material impact on the Group’s results and financial position. The following standards and amendments adopted by the European Union as of 31 December 2017 but with a subsequent effective date of application were not adopted in advance: • IFRS 9 – Financial Instruments (recognition and measurement of financial assets and liabilities); • IFRS 15 – Revenue from Contracts with Customers applicable as of 1 January 2018; • IFRS 16 – Leases applicable as of 1 January 2019. Texts adopted by the European Union as of 31 December 2017 Standards, amendments and interpretations not mandatory as of 1 January 2017

M.R.M. 2017 REGISTRATION DOCUMENT

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