Compagnie des Alpes // 2020 Universal Registration Document

5 FINANCIAL INFORMATION

Parent-company financial statements

5.4.4 SPECIAL REPORT OF THE STATUTORY AUDITORS ON REGULATED AGREEMENTS AND COMMITMENTS

Shareholders’ Meeting to approve the financial statements for the year ended 30 September 2020 To the Shareholders’ Meeting of Compagnie des Alpes, As Statutory Auditors of the Company, we hereby present to you our report on regulated agreements.

It is our duty to inform you, based on the information provided to us, of the basic features, terms and procedures and justification, in terms of interest for the Company, of the agreements brought to our attention, or that we identified in the course of our work, without having to comment on their utility or validity or look for other agreements. It is your responsibility, pursuant to the provisions of Article R. 225-31 of the French Commercial Code, to assess the benefits accruing from these agreements when considering their approval. In addition, where applicable, we are required to communicate the information provided for in Article R. 225-31 of the French Commercial Code regarding the performance, during the past fiscal year, of any agreements already approved by the Shareholders’ Meeting. For this mission we have applied due diligence that we consider to be in compliance with the professional standards of the French Statutory Auditors’ association (Compagnie Nationale des Commissaires aux Comptes). This due diligence consisted of verifying the consistency of the information provided to us with the information in the underlying documentation from which it was taken. Agreements submitted to the Shareholders’ Meeting for approval Pursuant to Article L. 225-40 of the French Commercial Code, we have been informed of the following agreements entered into during the past fiscal year which were subject to the prior authorisation of your Board of Directors. State-Guaranteed Loan (SGL) On 25 June 2020, the Board of Directors of Compagnie des Alpes (CDA) decided to authorise the signing of a State-Guaranteed Loan agreement by your Company acting as “Porte-Fort”, alongside» the “Borrower” - its subsidiary CDA Financement - and its usual banking pool including Banque Populaire Auvergne Rhône-Alpes, Caisse Régionale du Crédit Agricole des Savoie, and Caisse d’Epargne et de Prévoyance Rhône-Alpes as Lenders. This €200 million State-guaranteed loan, signed on 26 June 2020, has an initial term of 12 months; it may be extended by the Compagnie des Alpes Group for a period ranging from one to five years. It is 90%-guaranteed by the French State. An annual interest rate will be applied from the second year, expressed by each Lender as a percentage that reflects the cost of financing the outstanding amount in accordance with the SGL regulations. The cost of the guarantee is applied from the first year and in the event of extension, in accordance with SGL regulations. At 30 September 2020, no expense related to the annual interest rate of the SGL is to be taken into account and the expense related to the cost of the guarantee amounts to €258 thousand. Persons concerned: Banque Populaire Auvergne Rhône-Alpes represented by Maria Paublant, Crédit Agricole des Savoie represented by Emmanuelle Jianoux, and Caisse d’Epargne et de Prévoyance Rhône-Alpes represented by Jérôme Ballet, Directors of Compagnie des Alpes. Reason justifying its interest for the Company: the conclusion of this loan agreement is intended to finance the Group’s operating cash requirements generated by the state of health emergency related to the Covid-19 pandemic in order to enable it to preserve its business and its jobs in France. Agreements already approved by the Shareholders’ Meeting Pursuant to Article R. 225-30 of the French Commercial Code, we have been informed that the following agreements that had already been approved in previous fiscal years continued to be performed in the past reporting period. Services agreement with Parc du Futuroscope On 29 October 2015, the Board of Directors of Compagnie des Alpes (CDA) decided to authorise the implementation of a services agreement with Parc du Futuroscope (“Futuroscope”). CDA, the reference shareholder of Futuroscope, has the structure, experience, organisation and resources that make for its reputed and long- standing expertise in administrative, financial, technical and operational fields. This allows it to offer reliable and efficient support to its subsidiaries in the above-mentioned areas. Futuroscope has stated its desire to avail itself of the assistance and know-how that CDA can provide to optimise its management and the conduct of its business.

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Compagnie des Alpes I 2020 Universal registration document