Compagnie des Alpes - 2017 Registration Document

3 CORPORATE GOVERNANCE Report of the statutory auditors, drawn up in accordance with Article L. 225-235 of the French Commercial Code, on the report of the Chairman of the Board of Directors of Compagnie des Alpes SA

3.6 Report of the statutory auditors, drawn up in accordance with Article L. 225-235 of the French Commercial Code, on the report of the Chairman of the Board of Directors of Compagnie des Alpes SA In our capacity as Statutory auditors of Compagnie des Alpes SA and in accordance with the provisions of Article L. 225-235 of the French Commercial Code, we hereby present our report on the report prepared by the Chairman of your company as stipulated in the provisions of Article L. 225-37 of the French Commercial Code for the fiscal year ended 30 September 2017. It is the duty of the Chairman to prepare and submit a report, subject to approval by the Board of Directors, on procedures for internal control and risk management implemented in the company, and providing other information required by Article L. 225-37 of the French Commercial Code, particularly concerning corporate governance. It is our duty: z to give you our observations on the information provided in the Chairman’s report concerning the internal control and risk management procedures used for the preparation and treatment of accounting and financial information; and z to certify that the report contains additional disclosures as required by Article L. 225-37 of the French Commercial Code, with the stipulation that it it’s not our responsibility to verify the good faith of this information. We have performed our audit in accordance with the professional standards applicable in France. INFORMATION ON PROCEDURES FOR INTERNAL CONTROL AND RISK MANAGEMENT FOR THE PREPARATION AND TREATMENT OF ACCOUNTING AND FINANCIAL INFORMATION Industry standards require checks to determine the good faith of the information provided in the Chairman’s report on the procedures for internal control and risk management for the preparation and treatment of accounting and financial information. These checks consist of: z understanding the internal control and risk management procedures for the preparation and treatment of the accounting and financial information underlying the information presented in the Chairman’s report and in existing documentation; z understanding the work done to prepare this information and the existing documentation; z determining whether major deficiencies in internal control for the preparation and treatment of accounting and financial information that we discovered during our inspection are given appropriate mention in the Chairman’s report. On the basis of this work, we have no observations to make on the information on the company’s procedures for internal control and risk management for the preparation and treatment of accounting and financial information provided in the report of the Chairman of the Board of Directors, prepared in accordance with provisions of Article L. 225-37 of the French Commercial Code. (Fiscal year ended 30 September 2017) Dear Shareholders,

OTHER DISCLOSURES

We also certify that this report contains additional disclosures as required by Article L. 225-37 of the French Commercial Code.

Neuilly-sur-Seine and Courbevoie, 23 January 2018 Statutory auditors

PRICEWATERHOUSECOOPERS AUDIT

MAZARS

Françoise Garnier-Bel

Gilles Rainaut

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Compagnie des Alpes I 2017 Registration Document