Compagnie des Alpes // 2020 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

Our solution We have examined the procedures for implementing the impairment tests performed by the Group. These are based in particular on medium- term business plans prepared for each site, reviewed and approved by the Group’s governance. We have assessed: l the quality of the process for drawing up and approving the 2020/2021 budget and, more broadly, the medium-term plans for 2020/2025 drawn up by the Group’s Executive Management, presented to the Board of Directors and revised by the latter in November 2020; l the reasonableness of the main estimates in relation to the various structuring scenarios for opening or operating both the Leisure parks and the Ski areas: cash flow forecasts (notably for 2020/2021), return to normal during the term of the plan, long-term growth rate, and discount rate used; l for other assets, the reasonableness of the estimates used. We also assessed the consistency of the scenario used by Management that led to the impairment of the assets and carried out our own sensitivity analyses on the impairment tests. These analyses were carried out with the assistance of our valuation experts and have been shared with the Group’s Executive Management. We have also assessed the appropriate character of the information presented for the impairment tests for assets and checked the quantified information provided in Note 6.1 to the consolidated financial statements and relating to the sensitivity tests. Specific checks We also carried out, in accordance with the standards of professional practice applicable in France, the specific checks required by the law and regulations on disclosures relating to the Group, given in the Board of Directors’ management report. We have no comment to make regarding their fairness and consistency with the consolidated financial statements. We certify that the consolidated Statement of Non-Financial Performance specified by Article L. 225-102-1 of the French Commercial Code is present in the management report, with the understanding that, in compliance with the provisions of Article L. 823-10 of this Code, we have not checked the faithfulness or consistency of the information contained in this statement with the consolidated financial statements, which must be performed by an independent third-party. Information under other legal and regulatory obligations Appointment of the Statutory Auditors We have been appointed Statutory Auditors of Compagnie des Alpes by the Shareholders’ Meeting, in 1998 in the case of Mazars and in 1991 in the case of PricewaterhouseCoopers Audit. On 30 September 2020, the firm Mazars was in the 23 rd year of its mission without interruption and the firm PricewaterhouseCoopers Audit was in its 30 th year, i.e. 23 and 27 years respectively since the Company’s shares were listed for trading on a regulated market. Responsibilities of the management and the persons responsible for corporate governance with regard to the consolidated financial statements It is the responsibility of the management to prepare consolidated financial statements that present a true image in accordance with the IFRS standards as adopted in the European Union and to set up the internal control it deems necessary to the preparation of consolidated financial statements and to ensure that they are free of material misstatements, whether these result from fraud or error. At the time of preparing the consolidated financial statements, it is the responsibility of the management to assess the Company’s ability to continue its operation, to present in these financial statements, where applicable, the necessary information relating to business continuity and to apply the accounting concept of a going concern, except where the Company plans to liquidate or cease trading. It is the responsibility of the Audit and Finance Committee to monitor the process by which financial information is prepared and the efficiency of the internal control and risk management systems, as well as, where applicable, that of the internal audit, with regard to procedures for preparing and processing accounting and financial information. The consolidated financial statements have been approved by the Board of Directors. Responsibilities of the Statutory Auditors regarding the audit of the consolidated financial statements Audit objective and approach It is our responsibility to prepare a report on the consolidated financial statements. Our aim is to obtain reasonable assurance that the consolidated financial statements, taken as a whole, are free from material misstatement. Reasonable assurance corresponds to a high level of assurance but does not guarantee that an audit performed in accordance with professional standards of practice will systematically detect all material misstatements. Misstatements can arise due to fraud or error and are considered to be material if they, individually or in the aggregate, could be reasonably expected to influence the economic decisions of users taken on the basis of the financial statements. As specified in Article L. 823-10-1 of the French Commercial Code, our mission to certify the financial statements does not consist in guaranteeing the viability or quality of the management of your Company. In the context of an audit performed in accordance with the professional standards of practice applicable in France, the Statutory Auditor exercises his or her professional judgement throughout the audit.

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Compagnie des Alpes I 2020 Universal registration document