Compagnie des Alpes // 2020 Universal Registration Document

2 RISK FACTORS

2.1 RISK MANAGEMENT PROCEDURES

34

2.5 REGULATORY AND COMPLIANCE RISKS 39 2.5.1 Risk of non-compliance 39 2.5.2 Risk of loss of major public service concession 39

2.2 STRATEGIC RISKS

35

2.2.1 Risks related to changes in leisure consumption habits

2.6 CRISIS MANAGEMENT PROCEDURES

39

35 36 36 36 36 37 37 37 37 38 38 38 39

2.2.2 Risks related to the current real estate market 2.2.3 Risks related to the effects of climate change 2.2.4 Risks related to the competitive environment 2.2.5 Risks related to a major epidemic-pandemic

2.7 INSURANCE – RISK COVER

40 40

2.7.1 Civil liability insurance

2.7.2 Property damage and business interruption insurance

40

2.3 OPERATIONAL RISKS 2.3.1 Risks of cyber attack 2.3.2 Risks of IT system failure

2.8 INTERNAL CONTROL PROCEDURES

40 40

2.8.1 Internal control procedures

2.8.2 Process for preparing accounting and financial information

2.3.3 Risk of bodily injury

42 43

2.3.4 Security risks

2.8.3 Oversight

2.4 HUMAN RISKS

2.4.1 Risks of human resource shortage 2.4.2 Risks relating to employee safety

33

Compagnie des Alpes I 2020 Universal registration document