MRM_REGISTRATION_DOCUMENT_2017

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General information on the issuer and its share capital

Consolidated financial statements for the year ended 31 December 2017

Rents receivable under firm leases in the portfolio

31/12/2017

(in thousands of euros)

Future minimum payment amounts Less than 1 year

10,257 16,997

Between 1 and 5 years

Over 5 years

3,047

TOTAL FUTURE PAYMENTS

30,301

5.2 External property expenses not recovered

Expenses paid for (net of billing back) break down as follows:

31/12/2017

31/12/2016

(in thousands of euros)

Land tax and tax on offices and retail property

698 514

836

Maintenance expenses

75

Rental and co-ownership expenses

2,164

2,586

TOTAL EXTERNAL PROPERTY EXPENSES NOT RECOVERED

3,376

3,497

5.3 Operating expenses

Overheads break down as follows:

31/12/2017

31/12/2016

(in thousands of euros)

Fees (1)

1,301

1,801

Bank charges

38

41

Other external purchases and expenses

259 126

402 110 857

Other taxes and duties

Employee benefits expense

1,034

TOTAL OPERATING EXPENSES

2,758

3,211

(1) Fees are primarily composed of management fees and legal fees.

5.4 Other operating income and expenses

Accounting principles Other operating income and expenses correspond to unusual, abnormal or rare events as set out in paragraph 28 of the IASB Framework. They usually consist of transactional indemnities, which seldom occur in practice, paid to or received from tenants, and indemnities received from insurance providers in the event of a claim.

In 2017, other operating income amounted to €66 thousand and primarily consisted of an insurance payout of €44 thousand. Other operating expenses amounted to €1,494 thousand and primarily consisted of losses on receivables written off

of €517 thousand, transfer taxes on the Urban property plus interest on arrears for a total of €469 thousand, claims paid to tenants of €444 thousand and directors’ fees of €46 thousand.

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M.R.M. 2017 REGISTRATION DOCUMENT