Compagnie des Alpes // 2020 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

Borrowings break down by maturity as follows:

Up to 1 year 143.2 131.9 206.4

From 1 to 2 years

From 2 to 3 years

From 3 to 4 years

From 4 to 5 years

Over 5 years

TOTAL 841.2 664.2 562.8

(in millions of euros)

30/09/2020 (With IFRS 16)

242.7 231.3

33.3 21.9 33.8

121.0 109.6

68.2 58.7 112.2

232.8 110.8 161.2

30/09/2020 (Excluding IFRS 16) 30/09/2019 (Excluding IFRS 16)

27.7

21.5

Bond debt The €260 million bond debt of Compagnie des Alpes breaks down as follows: l a loan of €65 million issued on the USPP market (“USPP”), under French law, for an average period of 10 years and final maturity at 12 years; l a loan of €45 million issued on the Euro PP market for a period of 8 years; l a loan of €50 million issued on the USPP market, under French law, for an average period of 10 years and final maturity at 12 years; l a loan for an amount of €100 million issued in May 2014 on the Euro PP market, with a maturity of ten years. At 30 September 2020, the fair value of the four bonds was as follows: l 2014 bond: €107.9 million; l Euro PP 2017 loan: €46.9 million; l USPP 2017 loan: €54.0 million; l USPP 2019 loan: €78.7 million. Depreciable bank debt The amortisable bank debt, in the amount of €86.5 million, breaks down as follows: l a redeemable term loan of €80 million fully mobilised on 31 October 2017, of which the outstanding capital was equal to €64 million as at 30 September 2020. This loan was taken out with the Group’s long-standing banking partners, plus a Chinese bank. This loan has a maturity of five years for 50% and six years for the remaining 50%; l a redeemable term loan in the amount of €25 million fully mobilised on 18 October 2017, of which the outstanding capital was equal to €22.5 million as at 30 September 2020. This loan was granted by a new French banking partner, with a final maturity of seven years. Bank debt in fine The amortisable bank debt, in the amount of €205 million, breaks down as follows: l a term loan of €5 million mobilised on 23 March 2020 and granted by an Austrian partner with a final maturity of six years; l a State-guaranteed Loan (SGL) in the amount of €200 million mobilised on 29 June 2020 and taken out with the Group’s long- standing banking partners, for an initial period of 12 months. It may be extended for a period of one to five years, at the request of the Group. The assumption made by the Group at the end of the period was of an extension of the SGL by an additional year.

Market financing Compagnie des Alpes has a short-term marketable securities issuance programme (Negotiable European Commercial Paper – NEU CP), for a maximum amount of €240 million, which, it should be recalled, was registered on 4 February 2019 with Banque de France. This programme is backed by a revolving credit facility of €250 million (expiring in May 2023), to which a swingline sub-limit of €80 million has been added. The programme is run by four Investment Agents (BNP Paribas, CACIB, CIC and Société Générale), and the Domiciliary Agent is CACEIS Corporate Trust. The outstanding amount at 30 September 2020 is €80 million. Revolving bank debt The Group has a revolving credit facility for a maximum amount of €250 million expiring on 6 May 2023. The revolving credit facility was not drawn down at 30 September 2020. Furthermore, with the aim of boosting the liquidity of the NEU CP programme, a swingline sub-limit of €80 million was added to the revolving credit. Hedging instruments The Group arranged interest rate hedging instruments (borrowings- backed) for its floating-rate commitments. At 30 September 2020, the hedges implemented amounted to €89 million. The hedging instruments used are made up of two fixed-rate swaps and an adjusted CAP purchase: l two swaps representing €64 million of the hedged debt, 0.35% with maturity in 2023 and 0.27% with maturity in 2022 respectively, activated with the mobilisation of the €80 million loan on 31 October 2017 (amortised in the amount of €16 million at 30 September 2020); l purchase of adjusted CAP of €25 million at an exercise price of 0.25% and maturing at three years with a starting date of 1 June 2018. The fair-value impact of hedging instruments is recognised under borrowings from credit institutions (-€0.7 million).

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Compagnie des Alpes I 2020 Universal registration document