Compagnie des Alpes // 2020 Universal Registration Document

1 INTRODUCTION TO COMPAGNIE DES ALPES AND ITS ACTIVITIES Strategy and outlook

1.2 Strategy and outlook

Producing exceptional leisure activities for as many people as possible is the overall objective that the Company has set itself and has successfully implemented for several years. It is based on three pillars – the attractiveness of our sites, Very High Customer Satisfaction and the profitability of our activities – which are themselves broken down into action plans and rolled out by our teams. The results obtained in the three strategic areas listed below are the foundations on which the Company will build to build the future:

Ski areas: improving the experience on all links of the value chain to retain and renew our customers The continuous improvement of our ski offer and customer experience is the result of the constant modernisation of our infrastructures, the enhancement of our services and the enhancement of our assets. As a result, the Ski Areas Division grew 16.5% in six years (until 2018/2019, and therefore before the Covid-19 crisis) in a global context of slow decline in skiing in the French mountains and stagnation at the European level. This increase is explained by a positive price effect but above all by four consecutive years of growth in skier-days since 2015, which is the result of a series of actions and a proactive investment policy (€660 million invested since FY 2012/13 across out ski areas). Maintaining and developing the supply of “hot beds” in the resorts and renovating the apartments are a constant concern, which we address in particular through Foncière Rénovation Montagne (3,200 beds have been renovated and 3,000 created since 2014) and via our own mountain real estate agency network – the leader in France with 2,500 units under management – contributing to the efficient marketing of properties and better occupancy of beds in resorts (occupancy rate on average higher than competing agencies). Since 2018, our subsidiary Travel Factory, French leader in package holidays and accommodation in the mountains, has boosted distribution and helped to win over and retain new customers. The transformation underway in Risoul by Travel Factory of a former residence into an attractive “hostel” for the youngest customers shows our desire to lead the renewal of mountain accommodation. Finally, we are actively pursuing the roll-out of a forward-looking digital strategy to better understand and engage our customers. Leisure parks: enhancing our appeal by improving our offer and transforming our sites into short-stay destinations The Leisure Parks Division posted a nearly 50% growth in revenue in six years (until 2018/2019, before the Covid-19 crisis) and its EBITDA increased by 86% over the same period. These results underline the success of the strategy pursued: refocusing on our assets with potential (sale of five parks since 2012), and investment plan

supported to offer exceptional and immersive experiences to our visitors in order to retain them and win new ones. In total, more than €500 million has been invested over seven years in our leisure sites to increase their capacity and attractiveness, and thereby that of their regions. Customer satisfaction has increased steadily since 2014, including in 2020 during the health crisis. Our ambition of transforming several of our parks into destinations is growing: hotel development projects (Parc Astérix opened a third hotel in 2020, Quais de Lutèce was immediately voted the best themed hotel in the world by the international organisation TEA), launch of large-scale projects . In Futuroscope in particular, €300 million (including €200 million from CDA) will be invested over the next five years to transform the park, and in particular to develop an aquatic park and an attractive range of accommodation (a themed hotel and ecolodges). The extension of the season is driven by differentiating events, particularly for Christmas and Halloween. In our two business lines, increase our presence in Europe and develop our know-how internationally For several years, we have been strengthening our international presence as illustrated by the acquisition of Familypark in 2018 (the leading Austrian park, with growth prospects). The Group’s medium- term ambition is to expand in Europe through growth transactions including acquisitions and the start-up of sites in our two business lines (existing or greenfield). At the same time, via the CDA Management subsidiary in particular, the Company has been increasing its consulting assignments and management contracts in France and abroad for the past 10 years, mainly in emerging ski and leisure markets (China, Russia, Turkey, Morocco, Japan, Georgia, Lebanon, Kazakhstan, Colombia, etc.). In doing so, it shares its recognised know-how to revitalise or develop four-season sites that are attractive to new customers. It also ensures the visibility of CDA and develops unique internal expertise, which is particularly useful for supporting the development of its own sites. Thus, on the eve of the first lockdown in March 2020, the Company’s business continued to grow dynamically (+2.5% in revenue in our Ski areas compared to the previous fiscal year and +12.1% in Parks on a like-for-like basis).

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Compagnie des Alpes I 2020 Universal registration document