AGENCY FEES

For an acquisition or sale:

2.5% excluding VAT (3% including VAT) payable by the owner, 2.5% excluding VAT (3% including VAT) payable by the purchaser, paid upon signing the final deed at the notary.

For a long-term rental:

One month’s rent excluding VAT payable by the owner One month’s rent excluding VAT payable by the tenant paid upon signing the rental agreement.

VAT applicable in Morocco: 20%

For a short-term rental:

Less than 6 months: 25% of the monthly rent excluding VAT payable by the owner 25% of the monthly rent excluding VAT payable by the tenant

Greater than or equal to 6 months and less than 12 months: 50% of the monthly rent excluding VAT payable by the owner 50% of the monthly rent excluding VAT payable by the tenant

paid upon signing the rental agreement.

VAT applicable in Morocco: 20%

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PURCHASE COSTS

For residential premises or premises for commercial, professional or administrative use:

Registration fees for the sales agreement: 200 Dhs plus stamp duty. Registration fees for the deed of sale: 4% of the purchase price of the property. Land conservation fees: 1.5% to obtain the registration of the sale and the name of the buyer on the land title. Certificate of ownership: 100 Dhs Notary fees: 1% of the value of the property (with a minimum collection of 2,500 Dhs) + 20% VAT calculated on the basis of the notary fees + stamp and shipping costs (approximately 1,500 Dhs)

For undeveloped land:

Registration fees for the sales agreement: 200 Dhs plus stamp fees. Registration fees for the deed of sale: 5% of the transaction amount (4% if the buyer agrees to build buildings within 7 years) Land conservation fees: 1.5% to obtain the registration of the sale and the name of the buyer on the land title. Certificate of ownership: 100 Dhs Notary fees: 1% of the value of the property (with a minimum collection of 2,500 Dhs) + 20% VAT calculated on the basis of the notary fees + stamp and shipping costs (approximately 1,500 Dhs)

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SALE COSTS

For premises used for residential purposes or premises used for commercial, professional or administrative purposes:

Real Estate Profit Tax (TPI): 20% (with a minimum of 3% of the transfer price) Housing tax, depending on the rental value: – between 0 and 5,000 Dhs: 0% – between 5,001 and 20,000 Dhs: 10% – between 20,001 and 40,000 Dhs: 20% – greater than 40,000 Dhs: 30%

For MRE: 75% reduction of the rental value.

Municipal Services Tax (TSC): 10.5% of the rental value of a property in an urban area and 6.5% for those located on the outskirts.

For undeveloped land:

TPI, depending on the resale date:

• • before 4 years: 20%

• • between 4 and 6 years: 25%

• • more than 6 years: 30%

—— THE FOREIGN EXCHANGE OFFICE Foreign investors (non-resident foreigners, foreigners residing in Morocco, Moroccans residing abroad), individuals, companies and other professionals must comply with the regulations of the Foreign Exchange Office. For more information, we invite you to consult the website of the Office des Changes: https://www.oc.gov.ma/fr/investisseurs-etrangers/etrangers-non-residents#

SAAR TIM SARL

Siège social :

Avenue Moulay Ismail

Résidence Volubilis

Bloc C 1er Etage N° 53

90000 Tanger

SARL au capital de 10.000 MAD

Immatriculée auprès du Tribunal de Commerce de Tanger

ICE: 003607185000019