Compagnie des Alpes // 2020 Universal Registration Document

3 REPORT ON CORPORATE GOVERNANCE Compensation of corporate officers

3.3.1.2 Compensation policy

during the fiscal year, and until otherwise decided. The compensation is allocated on the basis of the following principles: l for the Board of Directors and the committees: fixed compensation of €1,500 is allocated to each Director on the basis of their actual attendance at Board and Committee meetings and time spent on Board and Committee work; It should be noted that the Directors representing the employees do not receive any compensation linked to their corporate office due to holding an employment contract with the Company. It should be recalled that the Chairman and Chief Executive Officer in his role as Chairman of the Board of Directors does not receive any compensation related to the activity of Director (formerly Directors’ fees) and it is specified that within the framework of the separation of functions such as announced by the Company on 27 November 2020, the non-executive Chairman, whose term of office would be renewed by the next Shareholders’ Meeting, would not receive compensation for his office as a Director; l for the non-voting member: the Board of Directors’ meeting of 14 March 2013 decided to grant the non-voting member compensation of €1,500 per Board meeting or Committee meeting attended, for the services he provides in his role as non-voting member. This compensation was maintained upon the renewal of term as a non-voting member by the Board of Directors on 9 March 2017. The compensation policy may be revised under the conditions provided for in Article L. 22-10-8 of the French Commercial Code when the Ordinary Shareholders’ Meeting does not approve the compensation policy presented to it and the Board of Directors then submits a revised compensation policy to the next Shareholders’ Meeting, taking into account the foregoing shareholders’ vote. In accordance with the provisions of Article L. 22-10-8 III of the French Commercial Code, the Board of Directors, on the advice of the Appointments and Compensation Committee, would have the right to waive the application of the compensation policy concerning the compensation of corporate officers in the event of exceptional circumstances and whether this exemption is temporary and in line with the Company’s interests and necessary to guarantee the Company’s sustainability or viability. As part of the decision-making process followed to determine, revise and implement the compensation policy, the Company’s Corporate Governance Charter is applied, by virtue of which the corporate officers strive to ensure that they avoid any conflict that may exist between their moral and material interests and those of the Company. They will inform the Board of any conflict of interest, even potential, in which they may be involved. Should they be unable to avoid a conflict of interest, even potential, they will refrain from taking part in discussions and from any decision-making in relation to the matters concerned. At its meeting of 19 November 2020, on the recommendation of the Appointments and Compensation Committee, the Board of Directors decided to allocate a total of €144,000 to the Directors and the non-voting member for the 2019/2020 fiscal year. The compensation allotted for one fiscal year (in relation to the meetings held in this fiscal year) is paid during the next fiscal year. The table presented in section 3.3.2.3. summarises all compensation paid to Board members for FY 2018/2019 and 2019/2020 by the Company, by controlled companies within the meaning of Article L. 233-16 of the French Commercial Code or by the controlling companies. B. Application of the compensation policy to the members of the Board of Directors

for the members of the Board of Directors for FY 2020/2021 (Article L. 22-10-8 of the French Commercial Code)

A. General principles relating to the determination, review and implementation of the compensation policy for the members of the Board of Directors for FY 2020/2021 This report on the compensation policy for corporate officers was drawn up with the assistance of the Appointments and Compensation Committee and was approved by the Board of Directors on 7 December 2020, in accordance with Article L. 22-10-8 of the French Commercial Code. This report describes all the components of the fixed and variable compensation of corporate officers and explains the decision-making process followed to determine, revise and implement it. The establishment of the compensation policy for Directors and non-voting members of the Board is the responsibility of the Board of Directors, on the recommendation of the Appointments and Compensation Committee, after the Shareholders’ Meeting sets a budget representing a total amount to be paid to the Directors and non-voting members of the Board. In this context, it decides each year on the distribution of this compensation among its members, taking into consideration, where applicable, the attendance of members at meetings of the Board of Directors and committees as well as any waivers of compensation. Directors and the non- voting member of the Board whose term of office expires or is newly appointed during the past fiscal year will receive compensation calculated at the end of the year prorata temporis . The compensation policy for corporate officers is therefore established by the Board of Directors and reviewed annually after the closing of the financial statements, after consulting the Appointments and Compensation Committee. The Board of Directors may award exceptional compensation, in cash or in kind, for specific assignments entrusted to some of its members or because of the member’s distinctive profile or role; any such compensation must be approved through the regulated agreements procedure. Except within the framework of a legally-agreed employment contract, no other compensation may be awarded to Directors. Compensation is assessed in the context of a core business and market, in line with the compensation of corporate officers with similar responsibilities in listed companies of the same size. This policy is in line with the Company’s corporate interest, contributes to its sustainability and is part of its commercial strategy. In accordance with Article R. 225-29-1 of the French Commercial Code, if a new Director or non-voting member is appointed, the compensation policy applicable to the current members of the Board of Directors would be applied. The remuneration policy is implemented by the Board of Directors in accordance with the resolutions passed by the Shareholders’ Meeting. The Shareholders’ Meeting of 18 March 2010 set the maximum annual amount that can be awarded to Board members at a total of €250,000 per fiscal year. This amount has not been modified since then and is thus applicable to all Directors and the non-voting member in office

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Compagnie des Alpes I 2020 Universal registration document