Compagnie des Alpes // 2020 Universal Registration Document

A VALUE CREATION

MODEL BASED ON

SHARED KNOW-HOW

COMPAGNIE DES ALPES IS CONTINUING TO DEVELOP ITS TWO MAIN ACTIVITIES, SKI AREAS AND LEISURE PARKS, RELYING ON SHARED EXPERTISE.

INDUSTRY TRENDS

RESOURCES

Beyond the ongoing strong growth in the tourist industry, the business of Compagnie des Alpes is buoyed by specific socio-environmental and societal trends that the Group fully integrates into its strategy.

INVESTING Human resources

PAYROLL From €185 million in 18/19 to €175 million in 19/20, measures to reduce staff costs (partial unemployment benefits, postponement of hires) were taken in order to partially offset the loss of revenue NET CAPITAL EXPENDITURE From €209 million in 18/19 to €175 million in 19/20, following an adjustment of around €30 million compared to the budget NET DEBT From €540 million in 18/19 to €648 million (excluding IFRS 16) in 19/20

Financial

CLIMATE AND WEATHER CONDITIONS:

• Located at high altitudes, the Group’s ski areas enjoy favourable snow conditions. • The seasonal complementary of the Group’s two business lines reduces its sensitivity to weather conditions. The artificial snow-making programmes in the mountains reinforce this advantage. • The development of new offers bolsters summer activities in the mountains and especially autumn/winter activities in leisure parks. • Compagnie des Alpes is rolling out initiatives for new international customers and new generations. • The growing appetite for short stays is a real opportunity for leisure parks. INCREASINGLY HIGHER EXPECTATIONS OF CORPORATE RESPONSE TO CSR-RELATED ISSUES: • The Company must contribute to the creation of shared value, reconciling the economy and sustainability, as well as global issues and local challenges CHANGING CONSUMER HABITS:

DISTRIBUTING AND CAPITALISING ON FLOWS Intangible assets

“Destination” brands with a Europe-wide or even worldwide reputation Well-known retail brands in France Adaptation of distribution channels in 19/20 to offset the closure of some of them (groups, tour operators, works councils, etc.) Appetite for local tourism and for the mountains in summer in the context of the health crisis

Real estate

SKI AREAS Real estate agencies: 25% market share in Group resorts, ( i.e. 13,500 beds under management)

LEISURE PARKS 3 sites with a hotel offering: Walibi Holland, Futuroscope, Parc Astérix

WELCOMING Human resources From 3,000 non-permanent FTEs welcomed each year to 2,321 in 2019/2020 Real estate 11 ski areas, 9 outdoor parks and 4 indoor sites: restricted operation in 2019/2020 Natural resources Leisure sites close to major cities and Alpine sites with exceptional landscapes and environmental quality

OPERATING AND SECURING Human resources

Recognised know-how and operational excellence Total headcount = 4,315 FTEs: 13% managers, of which 39% are women

Natural resources Weather and climatic conditions Intangible assets

4 Green Globe certified sites, 1 ISO 50001 certified site

COOPERATING AND INTERACTING Financial resources Several hundred million euros in purchases resources Societal

in the regions where it operates (see pages 14/15 of these noes).

19/20: close collaboration with all national and local stakeholders to manage the health crisis and its impacts

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Compagnie des Alpes I 2020 Universal registration document